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%16.2%
1 years$50,291$49,843$49,406$48,979$48,563$47,331
2 years$24,896$24,433$23,983$23,548$23,125$21,892
3 years$16,433$15,967$15,519$15,087$14,671$13,476
4 years$12,202$11,737$11,294$10,869$10,464$9,315
5 years$9,664$9,202$8,764$8,349$7,954$6,855
6 years$7,972$7,514$7,083$6,677$6,294$5,246
7 years$6,765$6,311$5,886$5,489$5,119$4,121
8 years$5,859$5,409$4,992$4,605$4,247$3,299
9 years$5,156$4,710$4,299$3,922$3,576$2,679
10 years$4,593$4,151$3,748$3,381$3,047$2,198
11 years$4,133$3,696$3,300$2,942$2,621$1,819
12 years$3,750$3,317$2,929$2,581$2,271$1,515
13 years$3,426$2,998$2,617$2,279$1,980$1,269
14 years$3,148$2,725$2,351$2,023$1,736$1,068
15 years$2,908$2,489$2,123$1,804$1,528$901
16 years$2,698$2,284$1,924$1,615$1,351$763
17 years$2,513$2,103$1,751$1,451$1,198$648
18 years$2,349$1,944$1,599$1,308$1,065$551
19 years$2,202$1,801$1,463$1,182$949$469
20 years$2,070$1,674$1,343$1,070$848$401
21 years$1,951$1,559$1,235$971$759$342
22 years$1,842$1,455$1,139$883$680$293
23 years$1,743$1,361$1,051$804$611$251
24 years$1,653$1,275$972$734$549$215
25 years$1,570$1,197$901$670$494$184
26 years$1,494$1,125$835$613$445$158
27 years$1,423$1,059$776$561$401$135
28 years$1,357$998$721$514$362$116
29 years$1,296$941$671$471$327$100
30 years$1,240$889$625$432$295$86
31 years$1,187$840$583$397$267$74
32 years$1,137$795$544$365$241$63
33 years$1,091$753$508$336$219$54
34 years$1,047$713$474$309$198$47
35 years$1,006$677$443$284$179$40
36 years$967$642$415$262$162$35
37 years$931$610$388$241$147$30
38 years$896$580$364$222$133$26
39 years$864$551$341$205$121$22
40 years$833$525$319$189$110$19
41 years$803$499$299$174$100$16
42 years$775$476$281$161$90$14
43 years$749$453$263$149$82$12
44 years$724$432$247$137$74$10
45 years$700$412$232$127$68$9
46 years$677$393$218$117$61$8
47 years$655$375$205$108$56$7
48 years$634$358$193$100$51$6
49 years$614$342$181$92$46$5
50 years$595$326$170$85$42$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $609,000, adding $4,316 every year, while hoping to spend $42,532 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: 66/27/7 Blend
55$609,000$609,000$609,000$609,000
56$675,570$643,293$633,853$719,042
57$699,224$629,561$609,834$734,740
58$723,866$613,730$583,584$746,398
59$749,551$595,653$554,985$758,012
60$776,339$575,174$523,910$769,572
61$804,294$552,126$490,230$781,071
62$833,488$526,336$453,808$792,498
63$863,994$497,617$414,502$803,846
64$895,896$465,774$372,161$815,109
65$929,280$430,600$326,632$826,280
66$964,242$391,875$277,749$837,356
67$1,000,886$349,368$225,345$848,334
68$1,039,324$302,835$169,242$859,213
69$1,079,677$252,016$109,254$869,996
70$1,122,078$196,639$45,188$880,687
71$1,166,671$136,415$0$891,296
72$1,213,612$71,040$0$903,565
73$1,263,070$191$0$919,495
74$1,315,233$0$0$935,745
75$1,370,300$0$0$975,082
76$1,428,494$0$0$1,016,727
77$1,490,053$0$0$1,060,800
78$1,555,240$0$0$1,107,490
79$1,624,343$0$0$1,157,004
80$1,697,674$0$0$1,209,570
81$1,775,576$0$0$1,265,436
82$1,858,423$0$0$1,324,874
83$1,946,625$0$0$1,388,181
84$2,040,630$0$0$1,455,683
85$2,140,931$0$0$1,527,736
86$2,248,066$0$0$1,604,731
87$2,362,625$0$0$1,687,096
88$2,485,254$0$0$1,775,301
89$2,616,662$0$0$1,869,860
90$2,757,629$0$0$1,971,339
91$2,909,008$0$0$2,080,358
92$3,071,735$0$0$2,197,597
93$3,246,839$0$0$2,323,804
94$3,435,451$0$0$2,459,797
95$3,638,810$0$0$2,606,480
96$3,858,280$0$0$2,764,842
97$4,095,357$0$0$2,935,970
98$4,351,688$0$0$3,121,060
99$4,629,080$0$0$3,321,427
100$4,929,522$0$0$3,538,514