Can I retire at age 56 with 611,000?

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 $611,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13%
1 years$50,456$50,006$49,568$49,140$48,722$48,113
2 years$24,978$24,513$24,062$23,625$23,201$22,588
3 years$16,487$16,019$15,570$15,137$14,720$14,122
4 years$12,242$11,776$11,331$10,905$10,498$9,921
5 years$9,696$9,233$8,793$8,376$7,981$7,425
6 years$7,999$7,539$7,106$6,699$6,315$5,781
7 years$6,787$6,331$5,905$5,507$5,136$4,624
8 years$5,879$5,427$5,008$4,620$4,260$3,771
9 years$5,172$4,725$4,314$3,935$3,588$3,121
10 years$4,608$4,165$3,761$3,392$3,057$2,612
11 years$4,146$3,708$3,311$2,952$2,629$2,206
12 years$3,762$3,328$2,938$2,589$2,278$1,876
13 years$3,437$3,008$2,625$2,286$1,987$1,605
14 years$3,159$2,734$2,359$2,029$1,742$1,379
15 years$2,918$2,497$2,130$1,810$1,533$1,190
16 years$2,707$2,291$1,931$1,620$1,355$1,031
17 years$2,521$2,110$1,757$1,456$1,202$895
18 years$2,356$1,950$1,604$1,312$1,068$779
19 years$2,209$1,807$1,468$1,186$952$680
20 years$2,077$1,679$1,347$1,074$851$594
21 years$1,957$1,564$1,239$975$761$520
22 years$1,848$1,460$1,142$886$682$456
23 years$1,749$1,366$1,055$807$613$400
24 years$1,659$1,280$975$736$551$352
25 years$1,575$1,201$903$672$495$309
26 years$1,498$1,129$838$615$446$272
27 years$1,428$1,062$778$563$402$240
28 years$1,362$1,001$723$515$363$211
29 years$1,301$944$673$473$328$186
30 years$1,244$892$627$434$296$164
31 years$1,191$843$585$398$268$145
32 years$1,141$798$545$366$242$128
33 years$1,094$755$509$337$219$113
34 years$1,050$716$476$310$198$100
35 years$1,009$679$445$285$180$88
36 years$970$644$416$263$163$78
37 years$934$612$389$242$148$69
38 years$899$582$365$223$134$61
39 years$866$553$342$206$121$54
40 years$835$526$320$190$110$47
41 years$806$501$300$175$100$42
42 years$778$477$282$162$91$37
43 years$751$455$264$149$82$33
44 years$726$433$248$138$75$29
45 years$702$413$233$127$68$26
46 years$679$394$219$117$62$23
47 years$657$376$206$109$56$20
48 years$636$359$193$100$51$18
49 years$616$343$182$93$46$16
50 years$597$328$171$86$42$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $611,000, adding $2,464 every year, while hoping to spend $38,073 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: 33/50/17 Blend
55$611,000$611,000$611,000$611,000
56$675,864$643,481$634,010$694,520
57$704,292$634,502$614,740$699,513
58$734,345$623,807$593,548$701,190
59$766,146$611,272$570,331$702,185
60$799,834$596,765$544,977$702,459
61$835,557$580,146$517,374$701,974
62$873,479$561,269$487,402$700,690
63$913,780$539,977$454,935$698,569
64$956,654$516,104$419,844$695,572
65$1,002,315$489,476$381,992$691,662
66$1,050,999$459,908$341,236$686,801
67$1,102,962$427,205$297,428$680,956
68$1,158,485$391,158$250,413$674,092
69$1,217,876$351,551$200,028$666,178
70$1,281,474$308,151$146,103$657,187
71$1,349,649$260,715$88,462$647,094
72$1,422,808$208,985$26,921$635,880
73$1,501,397$152,689$0$623,530
74$1,585,907$91,538$0$617,067
75$1,676,875$25,228$0$615,127
76$1,774,891$0$0$612,869
77$1,880,605$0$0$635,968
78$1,994,729$0$0$675,961
79$2,118,045$0$0$719,249
80$2,251,416$0$0$766,144
81$2,395,786$0$0$816,988
82$2,552,196$0$0$872,159
83$2,721,789$0$0$932,070
84$2,905,823$0$0$997,177
85$3,105,680$0$0$1,067,981
86$3,322,881$0$0$1,145,034
87$3,559,100$0$0$1,228,941
88$3,816,178$0$0$1,320,371
89$4,096,141$0$0$1,420,059
90$4,401,217$0$0$1,528,812
91$4,733,860$0$0$1,647,521
92$5,096,770$0$0$1,777,166
93$5,492,918$0$0$1,918,825
94$5,925,576$0$0$2,073,686
95$6,398,345$0$0$2,243,055
96$6,915,190$0$0$2,428,372
97$7,480,476$0$0$2,631,222
98$8,099,010$0$0$2,853,350
99$8,776,082$0$0$3,096,679
100$9,517,522$0$0$3,363,323