Can I retire at age 56 with 607,000?

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 $607,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.5%
1 years$50,125$49,679$49,243$48,818$48,403$47,310
2 years$24,815$24,352$23,905$23,470$23,049$21,953
3 years$16,379$15,915$15,468$15,038$14,623$13,560
4 years$12,162$11,699$11,257$10,834$10,429$9,406
5 years$9,632$9,172$8,736$8,321$7,928$6,948
6 years$7,946$7,490$7,060$6,655$6,273$5,337
7 years$6,742$6,290$5,867$5,471$5,102$4,209
8 years$5,840$5,392$4,975$4,590$4,233$3,384
9 years$5,139$4,694$4,285$3,909$3,564$2,759
10 years$4,578$4,138$3,736$3,370$3,037$2,274
11 years$4,119$3,684$3,289$2,933$2,612$1,890
12 years$3,737$3,306$2,919$2,572$2,263$1,582
13 years$3,414$2,988$2,608$2,271$1,974$1,331
14 years$3,138$2,716$2,343$2,016$1,730$1,125
15 years$2,899$2,481$2,116$1,798$1,523$954
16 years$2,689$2,276$1,918$1,610$1,346$812
17 years$2,505$2,096$1,745$1,446$1,194$693
18 years$2,341$1,937$1,593$1,304$1,061$592
19 years$2,195$1,795$1,459$1,178$946$507
20 years$2,063$1,668$1,339$1,067$845$435
21 years$1,944$1,554$1,231$968$756$374
22 years$1,836$1,451$1,135$880$678$321
23 years$1,738$1,357$1,048$802$609$277
24 years$1,648$1,271$969$731$547$238
25 years$1,565$1,193$898$668$492$205
26 years$1,489$1,121$832$611$443$177
27 years$1,418$1,055$773$559$400$153
28 years$1,353$994$719$512$361$132
29 years$1,292$938$669$470$326$114
30 years$1,236$886$623$431$294$99
31 years$1,183$837$581$396$266$85
32 years$1,133$792$542$364$241$74
33 years$1,087$750$506$334$218$64
34 years$1,044$711$473$308$197$55
35 years$1,003$675$442$283$179$48
36 years$964$640$413$261$162$41
37 years$928$608$387$240$147$36
38 years$893$578$362$222$133$31
39 years$861$549$339$204$121$27
40 years$830$523$318$188$109$23
41 years$801$498$298$174$99$20
42 years$773$474$280$160$90$17
43 years$746$452$263$148$82$15
44 years$721$430$247$137$74$13
45 years$697$410$231$126$67$11
46 years$674$392$217$117$61$10
47 years$653$374$204$108$56$8
48 years$632$357$192$100$50$7
49 years$612$341$180$92$46$6
50 years$593$325$170$85$42$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $607,000, adding $5,128 every year, while hoping to spend $29,596 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: 48/24/28 Blend
55$607,000$607,000$607,000$607,000
56$674,204$642,033$632,624$700,963
57$711,482$642,002$622,327$720,273
58$751,572$640,978$610,693$737,923
59$794,727$638,881$597,646$756,519
60$841,229$635,626$583,107$776,164
61$891,385$631,123$566,992$796,974
62$945,534$625,276$549,214$819,079
63$1,004,048$617,984$529,683$842,624
64$1,067,336$609,140$508,302$867,770
65$1,135,847$598,630$484,972$894,699
66$1,210,074$586,334$459,590$923,611
67$1,290,562$572,124$432,046$954,729
68$1,377,906$555,866$402,227$988,303
69$1,472,765$537,415$370,013$1,024,610
70$1,575,859$516,621$335,282$1,063,959
71$1,687,985$493,324$297,902$1,106,691
72$1,810,017$467,354$257,739$1,153,187
73$1,942,916$438,532$214,650$1,203,871
74$2,087,742$406,668$168,490$1,259,212
75$2,245,659$371,563$119,102$1,319,732
76$2,417,951$333,003$66,326$1,386,009
77$2,606,028$290,767$9,994$1,458,685
78$2,811,444$244,616$0$1,538,471
79$3,035,911$194,301$0$1,641,131
80$3,281,310$139,558$0$1,756,725
81$3,549,716$80,109$0$1,883,291
82$3,843,411$15,659$0$2,021,960
83$4,164,910$0$0$2,173,984
84$4,516,979$0$0$2,355,033
85$4,902,668$0$0$2,557,967
86$5,325,334$0$0$2,780,427
87$5,788,672$0$0$3,024,366
88$6,296,757$0$0$3,291,937
89$6,854,071$0$0$3,585,513
90$7,465,556$0$0$3,907,703
91$8,136,652$0$0$4,261,385
92$8,873,352$0$0$4,649,729
93$9,682,258$0$0$5,076,225
94$10,570,644$0$0$5,544,718
95$11,546,520$0$0$6,059,446
96$12,618,711$0$0$6,625,074
97$13,796,942$0$0$7,246,744
98$15,091,922$0$0$7,930,122
99$16,515,452$0$0$8,681,446
100$18,080,534$0$0$9,507,592