Can I retire at age 56 with 610,000?

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 $610,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.5%
1 years$50,373$49,925$49,487$49,059$48,642$48,134
2 years$24,937$24,473$24,023$23,586$23,163$22,651
3 years$16,460$15,993$15,544$15,112$14,696$14,196
4 years$12,222$11,757$11,312$10,887$10,481$9,998
5 years$9,680$9,217$8,779$8,363$7,967$7,502
6 years$7,985$7,527$7,095$6,688$6,304$5,857
7 years$6,776$6,321$5,896$5,498$5,127$4,698
8 years$5,869$5,418$5,000$4,612$4,253$3,843
9 years$5,164$4,718$4,306$3,929$3,582$3,189
10 years$4,600$4,158$3,754$3,387$3,052$2,677
11 years$4,140$3,702$3,305$2,947$2,625$2,268
12 years$3,756$3,323$2,933$2,585$2,275$1,935
13 years$3,431$3,003$2,621$2,282$1,984$1,660
14 years$3,153$2,729$2,355$2,026$1,739$1,432
15 years$2,913$2,493$2,126$1,807$1,531$1,240
16 years$2,703$2,288$1,928$1,618$1,353$1,078
17 years$2,517$2,107$1,754$1,454$1,200$939
18 years$2,353$1,947$1,601$1,310$1,067$821
19 years$2,205$1,804$1,466$1,184$951$719
20 years$2,073$1,677$1,345$1,072$849$630
21 years$1,954$1,562$1,237$973$760$554
22 years$1,845$1,458$1,140$885$681$487
23 years$1,746$1,363$1,053$806$612$429
24 years$1,656$1,277$974$735$550$379
25 years$1,573$1,199$902$671$495$334
26 years$1,496$1,127$837$614$446$295
27 years$1,425$1,060$777$562$402$261
28 years$1,360$999$722$515$362$231
29 years$1,299$943$672$472$327$204
30 years$1,242$890$626$433$296$181
31 years$1,189$841$584$398$267$160
32 years$1,139$796$544$366$242$142
33 years$1,092$754$508$336$219$126
34 years$1,049$715$475$309$198$112
35 years$1,008$678$444$285$179$99
36 years$969$643$415$262$163$88
37 years$932$611$389$242$147$78
38 years$898$581$364$223$134$69
39 years$865$552$341$205$121$61
40 years$834$525$320$189$110$55
41 years$805$500$300$175$100$48
42 years$777$476$281$161$90$43
43 years$750$454$264$149$82$38
44 years$725$433$248$137$75$34
45 years$701$412$233$127$68$30
46 years$678$394$218$117$61$27
47 years$656$376$205$108$56$24
48 years$635$358$193$100$51$21
49 years$615$342$181$93$46$19
50 years$596$327$170$86$42$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $610,000, adding $2,590 every year, while hoping to spend $26,071 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: 70/11/19 Blend
55$610,000$610,000$610,000$610,000
56$674,892$642,562$633,107$718,854
57$715,991$646,308$626,576$752,237
58$760,409$649,364$618,953$785,430
59$808,456$651,668$610,174$821,110
60$860,475$653,156$600,171$859,522
61$916,840$653,757$588,873$900,933
62$977,965$653,399$576,208$945,639
63$1,044,305$652,003$562,098$993,967
64$1,116,359$649,486$546,464$1,046,276
65$1,194,677$645,760$529,219$1,102,964
66$1,279,863$640,731$510,277$1,164,471
67$1,372,584$634,301$489,546$1,231,278
68$1,473,570$626,365$466,928$1,303,921
69$1,583,628$616,810$442,324$1,382,988
70$1,703,643$605,520$415,628$1,469,128
71$1,834,593$592,368$386,729$1,563,059
72$1,977,551$577,224$355,514$1,665,572
73$2,133,699$559,945$321,862$1,777,539
74$2,304,339$540,385$285,647$1,899,921
75$2,490,904$518,387$246,738$2,033,782
76$2,694,971$493,783$204,999$2,180,291
77$2,918,278$466,398$160,287$2,340,741
78$3,162,738$436,047$112,451$2,516,557
79$3,430,457$402,533$61,338$2,709,311
80$3,723,754$365,647$6,783$2,920,735
81$4,045,184$325,171$0$3,152,743
82$4,397,561$280,873$0$3,417,870
83$4,783,983$232,506$0$3,710,160
84$5,207,863$179,813$0$4,030,839
85$5,672,960$122,519$0$4,382,775
86$6,183,414$60,335$0$4,769,128
87$6,743,787$0$0$5,193,382
88$7,359,103$0$0$5,660,227
89$8,034,895$0$0$6,181,010
90$8,777,261$0$0$6,753,133
91$9,592,916$0$0$7,381,773
92$10,489,260$0$0$8,072,640
93$11,474,445$0$0$8,832,019
94$12,557,449$0$0$9,666,839
95$13,748,166$0$0$10,584,729
96$15,057,498$0$0$11,594,098
97$16,497,452$0$0$12,704,210
98$18,081,261$0$0$13,925,269
99$19,823,502$0$0$15,268,521
100$21,740,237$0$0$16,746,356