Can I retire at age 56 with 608,000?

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 $608,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.2%
1 years$50,208$49,761$49,325$48,899$48,483$48,036
2 years$24,855$24,393$23,944$23,509$23,087$22,637
3 years$16,406$15,941$15,493$15,062$14,647$14,208
4 years$12,182$11,718$11,275$10,852$10,447$10,021
5 years$9,648$9,187$8,750$8,335$7,941$7,531
6 years$7,959$7,502$7,071$6,666$6,284$5,890
7 years$6,754$6,300$5,876$5,480$5,110$4,732
8 years$5,850$5,400$4,984$4,597$4,240$3,877
9 years$5,147$4,702$4,292$3,916$3,570$3,224
10 years$4,585$4,145$3,742$3,375$3,042$2,711
11 years$4,126$3,690$3,295$2,938$2,616$2,300
12 years$3,743$3,312$2,924$2,577$2,267$1,966
13 years$3,420$2,993$2,612$2,275$1,977$1,691
14 years$3,143$2,720$2,347$2,019$1,733$1,461
15 years$2,903$2,485$2,119$1,801$1,526$1,268
16 years$2,694$2,280$1,921$1,613$1,349$1,104
17 years$2,509$2,100$1,748$1,449$1,196$964
18 years$2,345$1,940$1,596$1,306$1,063$844
19 years$2,198$1,798$1,461$1,180$948$741
20 years$2,066$1,671$1,341$1,069$846$651
21 years$1,947$1,557$1,233$970$758$574
22 years$1,839$1,453$1,137$882$679$506
23 years$1,741$1,359$1,050$803$610$447
24 years$1,650$1,273$971$732$548$395
25 years$1,568$1,195$899$669$493$349
26 years$1,491$1,123$834$612$444$309
27 years$1,421$1,057$774$560$400$274
28 years$1,355$996$720$513$361$243
29 years$1,294$939$670$470$326$216
30 years$1,238$887$624$432$295$191
31 years$1,185$839$582$396$266$170
32 years$1,135$794$543$364$241$151
33 years$1,089$752$507$335$218$134
34 years$1,045$712$473$308$198$119
35 years$1,004$676$443$284$179$106
36 years$966$641$414$261$162$94
37 years$929$609$388$241$147$84
38 years$895$579$363$222$133$75
39 years$862$550$340$205$121$67
40 years$831$524$319$189$110$59
41 years$802$498$299$174$99$53
42 years$774$475$280$161$90$47
43 years$748$452$263$148$82$42
44 years$722$431$247$137$74$37
45 years$698$411$232$127$67$33
46 years$675$392$218$117$61$30
47 years$654$374$205$108$56$26
48 years$633$357$192$100$50$23
49 years$613$341$181$92$46$21
50 years$594$326$170$85$42$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $608,000, adding $3,818 every year, while hoping to spend $34,019 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: 61/24/15 Blend
55$608,000$608,000$608,000$608,000
56$673,954$641,730$632,306$712,320
57$706,502$636,979$617,293$733,846
58$741,229$630,855$600,636$753,156
59$778,322$623,255$582,245$773,419
60$817,985$614,069$562,025$794,730
61$860,443$603,181$539,876$817,196
62$905,941$590,470$515,694$840,933
63$954,748$575,804$489,371$866,074
64$1,007,160$559,046$460,793$892,766
65$1,063,501$540,051$429,840$921,171
66$1,124,128$518,663$396,390$951,471
67$1,189,432$494,720$360,312$983,868
68$1,259,842$468,049$321,470$1,018,585
69$1,335,830$438,468$279,723$1,055,873
70$1,417,914$405,782$234,924$1,096,009
71$1,506,665$369,789$186,917$1,139,300
72$1,602,708$330,272$135,542$1,186,088
73$1,706,733$287,003$80,631$1,236,753
74$1,819,494$239,742$22,007$1,291,714
75$1,941,826$188,232$0$1,351,441
76$2,074,643$132,206$0$1,422,941
77$2,218,952$71,380$0$1,504,478
78$2,375,861$5,453$0$1,593,196
79$2,546,587$0$0$1,689,834
80$2,732,471$0$0$1,812,610
81$2,934,989$0$0$1,947,984
82$3,155,764$0$0$2,095,606
83$3,396,582$0$0$2,256,677
84$3,659,410$0$0$2,432,518
85$3,946,412$0$0$2,624,583
86$4,259,971$0$0$2,834,473
87$4,602,710$0$0$3,063,951
88$4,977,518$0$0$3,314,956
89$5,387,574$0$0$3,589,627
90$5,836,380$0$0$3,890,315
91$6,327,791$0$0$4,219,611
92$6,866,053$0$0$4,580,369
93$7,455,842$0$0$4,975,731
94$8,102,307$0$0$5,409,156
95$8,811,120$0$0$5,884,457
96$9,588,526$0$0$6,405,830
97$10,441,406$0$0$6,977,901
98$11,377,338$0$0$7,605,761
99$12,404,669$0$0$8,295,020
100$13,532,592$0$0$9,051,858