Can I retire at age 56 with 609,000?

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 $609,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.2%
1 years$50,291$49,843$49,406$48,979$48,563$48,317
2 years$24,896$24,433$23,983$23,548$23,125$22,877
3 years$16,433$15,967$15,519$15,087$14,671$14,429
4 years$12,202$11,737$11,294$10,869$10,464$10,229
5 years$9,664$9,202$8,764$8,349$7,954$7,728
6 years$7,972$7,514$7,083$6,677$6,294$6,075
7 years$6,765$6,311$5,886$5,489$5,119$4,908
8 years$5,859$5,409$4,992$4,605$4,247$4,045
9 years$5,156$4,710$4,299$3,922$3,576$3,383
10 years$4,593$4,151$3,748$3,381$3,047$2,862
11 years$4,133$3,696$3,300$2,942$2,621$2,443
12 years$3,750$3,317$2,929$2,581$2,271$2,102
13 years$3,426$2,998$2,617$2,279$1,980$1,819
14 years$3,148$2,725$2,351$2,023$1,736$1,582
15 years$2,908$2,489$2,123$1,804$1,528$1,382
16 years$2,698$2,284$1,924$1,615$1,351$1,212
17 years$2,513$2,103$1,751$1,451$1,198$1,066
18 years$2,349$1,944$1,599$1,308$1,065$940
19 years$2,202$1,801$1,463$1,182$949$830
20 years$2,070$1,674$1,343$1,070$848$735
21 years$1,951$1,559$1,235$971$759$652
22 years$1,842$1,455$1,139$883$680$580
23 years$1,743$1,361$1,051$804$611$516
24 years$1,653$1,275$972$734$549$459
25 years$1,570$1,197$901$670$494$410
26 years$1,494$1,125$835$613$445$366
27 years$1,423$1,059$776$561$401$327
28 years$1,357$998$721$514$362$292
29 years$1,296$941$671$471$327$261
30 years$1,240$889$625$432$295$234
31 years$1,187$840$583$397$267$209
32 years$1,137$795$544$365$241$187
33 years$1,091$753$508$336$219$168
34 years$1,047$713$474$309$198$151
35 years$1,006$677$443$284$179$135
36 years$967$642$415$262$162$121
37 years$931$610$388$241$147$109
38 years$896$580$364$222$133$98
39 years$864$551$341$205$121$88
40 years$833$525$319$189$110$79
41 years$803$499$299$174$100$71
42 years$775$476$281$161$90$63
43 years$749$453$263$149$82$57
44 years$724$432$247$137$74$51
45 years$700$412$232$127$68$46
46 years$677$393$218$117$61$41
47 years$655$375$205$108$56$37
48 years$634$358$193$100$51$33
49 years$614$342$181$92$46$30
50 years$595$326$170$85$42$27

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $609,000, adding $4,405 every year, while hoping to spend $30,933 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: 69/26/5 Blend
55$609,000$609,000$609,000$609,000
56$675,662$643,385$633,945$721,610
57$711,667$641,998$622,270$751,182
58$750,308$639,507$609,167$779,295
59$791,820$635,824$594,555$809,192
60$836,464$630,858$578,351$841,040
61$884,524$624,510$560,466$875,025
62$936,312$616,678$540,809$911,351
63$992,172$607,251$519,282$950,245
64$1,052,481$596,114$495,785$991,957
65$1,117,654$583,143$470,213$1,036,763
66$1,188,145$568,207$442,456$1,084,968
67$1,264,456$551,170$412,398$1,136,909
68$1,347,136$531,883$379,920$1,192,959
69$1,436,792$510,194$344,895$1,253,530
70$1,534,089$485,937$307,193$1,319,076
71$1,639,758$458,940$266,676$1,390,100
72$1,754,606$429,020$223,202$1,467,156
73$1,879,516$395,983$176,620$1,550,858
74$2,015,465$359,624$126,775$1,641,883
75$2,163,524$319,727$73,504$1,740,979
76$2,324,873$276,064$16,636$1,848,971
77$2,500,811$228,392$0$1,966,774
78$2,692,767$176,456$0$2,097,744
79$2,902,314$119,987$0$2,241,744
80$3,131,184$58,700$0$2,399,124
81$3,381,282$0$0$2,571,252
82$3,654,708$0$0$2,761,843
83$3,953,773$0$0$2,988,706
84$4,281,020$0$0$3,236,982
85$4,639,251$0$0$3,508,799
86$5,031,551$0$0$3,806,504
87$5,461,317$0$0$4,132,679
88$5,932,290$0$0$4,490,168
89$6,448,591$0$0$4,882,103
90$7,014,758$0$0$5,311,935
91$7,635,789$0$0$5,783,463
92$8,317,189$0$0$6,300,873
93$9,065,022$0$0$6,868,775
94$9,885,968$0$0$7,492,247
95$10,787,384$0$0$8,176,883
96$11,777,376$0$0$8,928,846
97$12,864,871$0$0$9,754,923
98$14,059,707$0$0$10,662,593
99$15,372,718$0$0$11,660,095
100$16,815,843$0$0$12,756,504