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%11.3%
1 years$50,456$50,006$49,568$49,140$48,722$48,456
2 years$24,978$24,513$24,062$23,625$23,201$22,932
3 years$16,487$16,019$15,570$15,137$14,720$14,457
4 years$12,242$11,776$11,331$10,905$10,498$10,243
5 years$9,696$9,233$8,793$8,376$7,981$7,734
6 years$7,999$7,539$7,106$6,699$6,315$6,077
7 years$6,787$6,331$5,905$5,507$5,136$4,907
8 years$5,879$5,427$5,008$4,620$4,260$4,041
9 years$5,172$4,725$4,314$3,935$3,588$3,378
10 years$4,608$4,165$3,761$3,392$3,057$2,856
11 years$4,146$3,708$3,311$2,952$2,629$2,437
12 years$3,762$3,328$2,938$2,589$2,278$2,095
13 years$3,437$3,008$2,625$2,286$1,987$1,812
14 years$3,159$2,734$2,359$2,029$1,742$1,575
15 years$2,918$2,497$2,130$1,810$1,533$1,375
16 years$2,707$2,291$1,931$1,620$1,355$1,205
17 years$2,521$2,110$1,757$1,456$1,202$1,059
18 years$2,356$1,950$1,604$1,312$1,068$933
19 years$2,209$1,807$1,468$1,186$952$824
20 years$2,077$1,679$1,347$1,074$851$729
21 years$1,957$1,564$1,239$975$761$646
22 years$1,848$1,460$1,142$886$682$574
23 years$1,749$1,366$1,055$807$613$510
24 years$1,659$1,280$975$736$551$454
25 years$1,575$1,201$903$672$495$405
26 years$1,498$1,129$838$615$446$361
27 years$1,428$1,062$778$563$402$322
28 years$1,362$1,001$723$515$363$288
29 years$1,301$944$673$473$328$257
30 years$1,244$892$627$434$296$230
31 years$1,191$843$585$398$268$206
32 years$1,141$798$545$366$242$184
33 years$1,094$755$509$337$219$165
34 years$1,050$716$476$310$198$148
35 years$1,009$679$445$285$180$132
36 years$970$644$416$263$163$119
37 years$934$612$389$242$148$106
38 years$899$582$365$223$134$95
39 years$866$553$342$206$121$85
40 years$835$526$320$190$110$77
41 years$806$501$300$175$100$69
42 years$778$477$282$162$91$62
43 years$751$455$264$149$82$55
44 years$726$433$248$138$75$50
45 years$702$413$233$127$68$45
46 years$679$394$219$117$62$40
47 years$657$376$206$109$56$36
48 years$636$359$193$100$51$32
49 years$616$343$182$93$46$29
50 years$597$328$171$86$42$26

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $611,000, adding $4,670 every year, while hoping to spend $33,955 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: 68/25/7 Blend
55$611,000$611,000$611,000$611,000
56$678,139$645,756$636,286$723,148
57$711,181$641,270$621,473$749,098
58$746,456$635,427$605,027$772,904
59$784,155$628,123$586,855$798,023
60$824,488$619,250$566,864$824,575
61$867,686$608,694$544,955$852,698
62$914,002$596,332$521,023$882,540
63$963,714$582,035$494,960$914,269
64$1,017,125$565,667$466,654$948,067
65$1,074,570$547,083$435,985$984,141
66$1,136,416$526,130$402,830$1,022,715
67$1,203,066$502,646$367,061$1,064,039
68$1,274,962$476,460$328,541$1,108,392
69$1,352,591$447,389$287,130$1,156,078
70$1,436,487$415,243$242,681$1,207,439
71$1,527,237$379,818$195,039$1,262,850
72$1,625,487$340,901$144,045$1,322,727
73$1,731,947$298,265$89,530$1,387,531
74$1,847,396$251,671$31,319$1,457,770
75$1,972,693$200,865$0$1,534,008
76$2,108,781$145,581$0$1,619,171
77$2,256,698$85,536$0$1,714,291
78$2,417,588$20,433$0$1,817,807
79$2,592,705$0$0$1,930,575
80$2,783,432$0$0$2,067,313
81$2,991,291$0$0$2,222,493
82$3,217,957$0$0$2,391,746
83$3,465,271$0$0$2,576,454
84$3,735,262$0$0$2,778,136
85$4,030,163$0$0$2,998,464
86$4,352,433$0$0$3,239,280
87$4,704,776$0$0$3,502,611
88$5,090,172$0$0$3,790,688
89$5,511,903$0$0$4,105,970
90$5,973,580$0$0$4,451,163
91$6,479,181$0$0$4,829,246
92$7,033,086$0$0$5,243,502
93$7,640,121$0$0$5,697,545
94$8,305,597$0$0$6,195,355
95$9,035,366$0$0$6,741,317
96$9,835,874$0$0$7,340,258
97$10,714,219$0$0$7,997,499
98$11,678,221$0$0$8,718,897
99$12,736,492$0$0$9,510,905
100$13,898,520$0$0$10,380,633