Can I retire at age 56 with 611,000?

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 $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%13.3%
1 years$50,456$50,006$49,568$49,140$48,722$48,053
2 years$24,978$24,513$24,062$23,625$23,201$22,529
3 years$16,487$16,019$15,570$15,137$14,720$14,064
4 years$12,242$11,776$11,331$10,905$10,498$9,865
5 years$9,696$9,233$8,793$8,376$7,981$7,371
6 years$7,999$7,539$7,106$6,699$6,315$5,730
7 years$6,787$6,331$5,905$5,507$5,136$4,576
8 years$5,879$5,427$5,008$4,620$4,260$3,726
9 years$5,172$4,725$4,314$3,935$3,588$3,078
10 years$4,608$4,165$3,761$3,392$3,057$2,571
11 years$4,146$3,708$3,311$2,952$2,629$2,167
12 years$3,762$3,328$2,938$2,589$2,278$1,839
13 years$3,437$3,008$2,625$2,286$1,987$1,570
14 years$3,159$2,734$2,359$2,029$1,742$1,347
15 years$2,918$2,497$2,130$1,810$1,533$1,160
16 years$2,707$2,291$1,931$1,620$1,355$1,003
17 years$2,521$2,110$1,757$1,456$1,202$869
18 years$2,356$1,950$1,604$1,312$1,068$755
19 years$2,209$1,807$1,468$1,186$952$657
20 years$2,077$1,679$1,347$1,074$851$573
21 years$1,957$1,564$1,239$975$761$501
22 years$1,848$1,460$1,142$886$682$438
23 years$1,749$1,366$1,055$807$613$383
24 years$1,659$1,280$975$736$551$336
25 years$1,575$1,201$903$672$495$295
26 years$1,498$1,129$838$615$446$259
27 years$1,428$1,062$778$563$402$227
28 years$1,362$1,001$723$515$363$200
29 years$1,301$944$673$473$328$176
30 years$1,244$892$627$434$296$155
31 years$1,191$843$585$398$268$136
32 years$1,141$798$545$366$242$120
33 years$1,094$755$509$337$219$105
34 years$1,050$716$476$310$198$93
35 years$1,009$679$445$285$180$82
36 years$970$644$416$263$163$72
37 years$934$612$389$242$148$64
38 years$899$582$365$223$134$56
39 years$866$553$342$206$121$49
40 years$835$526$320$190$110$44
41 years$806$501$300$175$100$38
42 years$778$477$282$162$91$34
43 years$751$455$264$149$82$30
44 years$726$433$248$138$75$26
45 years$702$413$233$127$68$23
46 years$679$394$219$117$62$21
47 years$657$376$206$109$56$18
48 years$636$359$193$100$51$16
49 years$616$343$182$93$46$14
50 years$597$328$171$86$42$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $611,000, adding $6,170 every year, while hoping to spend $37,424 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: 66/26/8 Blend
55$611,000$611,000$611,000$611,000
56$679,686$647,303$637,833$723,104
57$709,196$639,202$619,381$744,653
58$740,460$629,450$599,058$763,156
59$773,620$617,926$576,759$782,395
60$808,828$604,503$552,379$802,436
61$846,250$589,046$525,806$823,355
62$886,070$571,411$496,922$845,236
63$928,486$551,447$465,606$868,173
64$973,718$528,995$431,730$892,272
65$1,022,006$503,883$395,161$917,649
66$1,073,611$475,934$355,760$944,434
67$1,128,821$444,957$313,380$972,775
68$1,187,953$410,752$267,870$1,002,832
69$1,251,352$373,107$219,072$1,034,787
70$1,319,398$331,797$166,818$1,068,842
71$1,392,507$286,586$110,938$1,105,220
72$1,471,137$237,223$51,248$1,144,171
73$1,555,791$183,444$0$1,185,973
74$1,647,018$124,970$0$1,231,998
75$1,745,426$61,505$0$1,286,262
76$1,851,679$0$0$1,344,787
77$1,966,510$0$0$1,410,092
78$2,090,720$0$0$1,499,797
79$2,225,194$0$0$1,596,947
80$2,370,903$0$0$1,702,247
81$2,528,915$0$0$1,816,474
82$2,700,403$0$0$1,940,481
83$2,886,660$0$0$2,075,207
84$3,089,106$0$0$2,221,684
85$3,309,303$0$0$2,381,047
86$3,548,972$0$0$2,554,548
87$3,810,003$0$0$2,743,561
88$4,094,479$0$0$2,949,599
89$4,404,691$0$0$3,174,327
90$4,743,161$0$0$3,419,581
91$5,112,665$0$0$3,687,376
92$5,516,257$0$0$3,979,935
93$5,957,302$0$0$4,299,703
94$6,439,503$0$0$4,649,373
95$6,966,936$0$0$5,031,908
96$7,544,092$0$0$5,450,574
97$8,175,914$0$0$5,908,964
98$8,867,844$0$0$6,411,036
99$9,625,878$0$0$6,961,150
100$10,456,617$0$0$7,564,105