Can I retire at age 56 with 609,000?

Use the below retirement simulation to view the chances of a successful retirement.
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%17.6%
1 years$50,291$49,843$49,406$48,979$48,563$47,065
2 years$24,896$24,433$23,983$23,548$23,125$21,629
3 years$16,433$15,967$15,519$15,087$14,671$13,224
4 years$12,202$11,737$11,294$10,869$10,464$9,076
5 years$9,664$9,202$8,764$8,349$7,954$6,631
6 years$7,972$7,514$7,083$6,677$6,294$5,035
7 years$6,765$6,311$5,886$5,489$5,119$3,925
8 years$5,859$5,409$4,992$4,605$4,247$3,116
9 years$5,156$4,710$4,299$3,922$3,576$2,509
10 years$4,593$4,151$3,748$3,381$3,047$2,041
11 years$4,133$3,696$3,300$2,942$2,621$1,674
12 years$3,750$3,317$2,929$2,581$2,271$1,381
13 years$3,426$2,998$2,617$2,279$1,980$1,146
14 years$3,148$2,725$2,351$2,023$1,736$955
15 years$2,908$2,489$2,123$1,804$1,528$798
16 years$2,698$2,284$1,924$1,615$1,351$669
17 years$2,513$2,103$1,751$1,451$1,198$562
18 years$2,349$1,944$1,599$1,308$1,065$473
19 years$2,202$1,801$1,463$1,182$949$399
20 years$2,070$1,674$1,343$1,070$848$337
21 years$1,951$1,559$1,235$971$759$285
22 years$1,842$1,455$1,139$883$680$241
23 years$1,743$1,361$1,051$804$611$204
24 years$1,653$1,275$972$734$549$173
25 years$1,570$1,197$901$670$494$146
26 years$1,494$1,125$835$613$445$124
27 years$1,423$1,059$776$561$401$105
28 years$1,357$998$721$514$362$89
29 years$1,296$941$671$471$327$76
30 years$1,240$889$625$432$295$64
31 years$1,187$840$583$397$267$55
32 years$1,137$795$544$365$241$47
33 years$1,091$753$508$336$219$40
34 years$1,047$713$474$309$198$34
35 years$1,006$677$443$284$179$29
36 years$967$642$415$262$162$24
37 years$931$610$388$241$147$21
38 years$896$580$364$222$133$18
39 years$864$551$341$205$121$15
40 years$833$525$319$189$110$13
41 years$803$499$299$174$100$11
42 years$775$476$281$161$90$9
43 years$749$453$263$149$82$8
44 years$724$432$247$137$74$7
45 years$700$412$232$127$68$6
46 years$677$393$218$117$61$5
47 years$655$375$205$108$56$4
48 years$634$358$193$100$51$3
49 years$614$342$181$92$46$3
50 years$595$326$170$85$42$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $609,000, adding $6,914 every year, while hoping to spend $42,354 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: 33/37/30 Blend
55$609,000$609,000$609,000$609,000
56$678,250$645,973$636,533$694,290
57$702,367$632,561$612,793$693,722
58$727,525$617,073$586,838$688,900
59$753,784$599,361$558,548$682,894
60$781,211$579,271$527,801$675,631
61$809,879$556,639$494,466$667,033
62$839,863$531,291$458,408$657,018
63$871,248$503,044$419,483$645,502
64$904,124$471,702$377,545$632,396
65$938,590$437,060$332,438$617,608
66$974,752$398,903$284,001$601,043
67$1,012,727$356,998$232,064$582,602
68$1,052,639$311,105$176,452$562,181
69$1,094,625$260,966$116,981$539,673
70$1,138,834$206,311$53,457$514,969
71$1,185,429$146,854$0$487,954
72$1,234,584$82,291$0$463,098
73$1,286,493$12,305$0$454,250
74$1,341,365$0$0$444,226
75$1,399,429$0$0$458,801
76$1,460,935$0$0$479,590
77$1,526,156$0$0$501,680
78$1,595,389$0$0$525,178
79$1,668,962$0$0$550,200
80$1,747,230$0$0$576,876
81$1,830,585$0$0$605,346
82$1,919,454$0$0$635,763
83$2,014,306$0$0$668,295
84$2,115,653$0$0$703,127
85$2,224,057$0$0$740,463
86$2,340,137$0$0$780,524
87$2,464,566$0$0$823,553
88$2,598,089$0$0$869,820
89$2,741,518$0$0$919,617
90$2,895,747$0$0$973,267
91$3,061,757$0$0$1,031,124
92$3,240,625$0$0$1,093,578
93$3,433,535$0$0$1,161,057
94$3,641,786$0$0$1,234,031
95$3,866,807$0$0$1,313,017
96$4,110,167$0$0$1,398,582
97$4,373,592$0$0$1,491,351
98$4,658,978$0$0$1,592,011
99$4,968,410$0$0$1,701,318
100$5,304,183$0$0$1,820,102