Can I retire at age 56 with 606,000?

Use the below retirement simulation to view the chances of a successful retirement.
Confused? Try the simple retirement calculator
About Your Retirement ?
Current Age
Retirement Age
Current Savings $
Annual Deposits $
Annual Withdrawals $
Stock market crash:
Portfolio ?
% in Stocks:
% in Bonds:
% in Cash:
Modify Stock Returns:
0%
Modify Bond Returns:
0%
Modify Cash Returns:
0%
Modify Inflation:
0%
How much money do I need to retire?

This retirement calculator runs simulations based on past data from the S&P 500, 10 Year Treasury Bond, 3 month T-Bill, and US inflation. For each year of each simulation, a random return and inflation amount is chosen.

How to use: Enter your current age and the age when you retire. Then enter your current savings, the amount that you can save annually before you retire, and the amount that you plan to withdraw after retirement. Your annual deposits and withdrawals take inflation into account. For example, if you need $50,000 to live on in retirement using today's dollars, we will automatically take into account the cost of living for your retirement years. The same is true for your annual deposits. Next, decide if you'd like to simulate a stock market crash.

In the portfolio section, choose the makeup of your portfolio with stocks, bonds, and cash. Cash assumes that your money is stored in a savings account. You can then alter the future returns and inflation. For example, if the market has historically returned about 10%, but you think the future will be worse, modify the stock returns by -3%, and the future returns will average out to 7%. Investment fees can also lower stock market returns. Many index funds and ETFs offer extremely low fees and expenses.

Many people receive income in retirement, such as social security, pension plans, part time jobs, annuities, and other benefits. This would allow you to take out smaller distributions every year. Please note that taxes must also be considered, but are not used in this simulation. A 401k, Roth IRA, and Traditional IRA are taxed differently than a standard investment account, as are dividends.

Note: This assumes that the future is at least somewhat like the past. In reality, anything could happen. The Soviet Union collapsed, Japan's Nikkei Index is still well below its 1989 peak. Numerous other markets have changed drastically and never recovered. However, this online tool is helpful in retirement planning and estimating how much you might need for retirement, especially those hoping to retire early. We recommend receiving advice from a financial planner.

Want to retire with $606,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.5%
1 years$50,043$49,597$49,162$48,738$48,323$46,664
2 years$24,774$24,312$23,865$23,432$23,011$21,357
3 years$16,352$15,888$15,442$15,013$14,599$13,001
4 years$12,142$11,680$11,238$10,816$10,412$8,883
5 years$9,616$9,157$8,721$8,308$7,915$6,459
6 years$7,933$7,477$7,048$6,644$6,263$4,880
7 years$6,731$6,279$5,857$5,462$5,094$3,784
8 years$5,830$5,383$4,967$4,582$4,226$2,989
9 years$5,130$4,687$4,278$3,903$3,559$2,393
10 years$4,570$4,131$3,730$3,364$3,032$1,936
11 years$4,112$3,678$3,284$2,928$2,608$1,578
12 years$3,731$3,301$2,914$2,568$2,260$1,295
13 years$3,409$2,983$2,604$2,267$1,971$1,068
14 years$3,133$2,711$2,339$2,013$1,727$884
15 years$2,894$2,477$2,112$1,795$1,521$734
16 years$2,685$2,273$1,915$1,607$1,344$611
17 years$2,501$2,093$1,743$1,444$1,192$510
18 years$2,337$1,934$1,591$1,301$1,060$427
19 years$2,191$1,792$1,456$1,176$945$357
20 years$2,060$1,666$1,336$1,065$844$300
21 years$1,941$1,551$1,229$967$755$252
22 years$1,833$1,448$1,133$879$677$211
23 years$1,735$1,354$1,046$800$608$178
24 years$1,645$1,269$967$730$546$149
25 years$1,562$1,191$896$667$491$126
26 years$1,486$1,119$831$610$443$106
27 years$1,416$1,053$772$558$399$89
28 years$1,351$993$717$511$360$75
29 years$1,290$936$668$469$325$63
30 years$1,234$884$622$430$294$53
31 years$1,181$836$580$395$266$45
32 years$1,132$791$541$363$240$38
33 years$1,085$749$505$334$217$32
34 years$1,042$710$472$307$197$27
35 years$1,001$673$441$283$178$23
36 years$962$639$413$260$162$19
37 years$926$607$386$240$146$16
38 years$892$577$362$221$133$14
39 years$859$549$339$204$120$12
40 years$828$522$318$188$109$10
41 years$799$497$298$174$99$8
42 years$772$473$279$160$90$7
43 years$745$451$262$148$82$6
44 years$720$430$246$137$74$5
45 years$696$410$231$126$67$4
46 years$673$391$217$116$61$4
47 years$651$373$204$108$55$3
48 years$631$356$192$99$50$2
49 years$611$340$180$92$46$2
50 years$592$325$169$85$42$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $606,000, adding $2,371 every year, while hoping to spend $34,591 every year in retirement. These numbers increase with inflation.
Reality usually performs much different than the expected returns. This uses historical averages, but anything can happen. In general, riskier investments have greater returns on average, but more volatility in the short term.
Age Total: 100% Stocks Total: 100% Bonds Total: 100% Cash Total: 44/37/19 Blend
55$606,000$606,000$606,000$606,000
56$670,258$638,140$628,747$695,970
57$701,819$632,604$613,005$708,757
58$735,441$625,638$595,577$719,014
59$771,296$617,134$576,369$729,410
60$809,575$606,980$555,284$739,975
61$850,486$595,057$532,220$750,743
62$894,258$581,236$507,072$761,756
63$941,140$565,385$479,727$773,060
64$991,408$547,360$450,069$784,711
65$1,045,363$527,012$417,977$796,773
66$1,103,335$504,181$383,325$809,320
67$1,165,688$478,699$345,979$822,436
68$1,232,820$450,387$305,801$836,218
69$1,305,168$419,057$262,647$850,778
70$1,383,215$384,510$216,364$866,240
71$1,467,486$346,535$166,796$882,750
72$1,558,564$304,909$113,778$900,469
73$1,657,086$259,398$57,138$919,582
74$1,763,753$209,752$0$940,297
75$1,879,335$155,710$0$963,520
76$2,004,681$96,993$0$1,001,251
77$2,140,723$33,310$0$1,042,231
78$2,288,484$0$0$1,086,839
79$2,449,094$0$0$1,150,008
80$2,623,792$0$0$1,233,534
81$2,813,944$0$0$1,324,516
82$3,021,050$0$0$1,423,681
83$3,246,764$0$0$1,531,828
84$3,492,904$0$0$1,649,839
85$3,761,473$0$0$1,778,683
86$4,054,672$0$0$1,919,426
87$4,374,927$0$0$2,073,243
88$4,724,910$0$0$2,241,429
89$5,107,558$0$0$2,425,405
90$5,526,108$0$0$2,626,741
91$5,984,125$0$0$2,847,162
92$6,485,531$0$0$3,088,569
93$7,034,648$0$0$3,353,057
94$7,636,234$0$0$3,642,930
95$8,295,530$0$0$3,960,728
96$9,018,306$0$0$4,309,247
97$9,810,919$0$0$4,691,568
98$10,680,371$0$0$5,111,082
99$11,634,372$0$0$5,571,528
100$12,681,416$0$0$6,077,022