Can I retire at age 56 with 612,000?

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 $612,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16%
1 years$50,538$50,088$49,649$49,220$48,802$47,603
2 years$25,019$24,553$24,101$23,664$23,239$22,038
3 years$16,514$16,046$15,595$15,162$14,744$13,579
4 years$12,262$11,795$11,349$10,923$10,515$9,396
5 years$9,711$9,248$8,808$8,390$7,994$6,922
6 years$8,012$7,551$7,118$6,709$6,325$5,302
7 years$6,798$6,342$5,915$5,516$5,144$4,171
8 years$5,888$5,436$5,016$4,627$4,267$3,343
9 years$5,181$4,733$4,321$3,942$3,594$2,717
10 years$4,615$4,172$3,767$3,398$3,062$2,233
11 years$4,153$3,714$3,316$2,957$2,633$1,850
12 years$3,768$3,333$2,943$2,594$2,282$1,543
13 years$3,443$3,012$2,629$2,290$1,990$1,294
14 years$3,164$2,738$2,363$2,033$1,744$1,090
15 years$2,922$2,501$2,133$1,813$1,536$921
16 years$2,711$2,295$1,934$1,623$1,357$781
17 years$2,525$2,114$1,760$1,458$1,204$664
18 years$2,360$1,953$1,606$1,314$1,070$566
19 years$2,213$1,810$1,471$1,188$954$483
20 years$2,080$1,682$1,350$1,076$852$413
21 years$1,960$1,567$1,241$976$762$353
22 years$1,851$1,463$1,144$888$683$302
23 years$1,752$1,368$1,056$808$614$259
24 years$1,661$1,282$977$737$551$222
25 years$1,578$1,203$905$673$496$191
26 years$1,501$1,130$839$616$447$164
27 years$1,430$1,064$779$563$403$141
28 years$1,364$1,002$725$516$364$121
29 years$1,303$946$674$473$328$104
30 years$1,246$893$628$434$297$90
31 years$1,193$844$585$399$268$77
32 years$1,143$799$546$367$243$67
33 years$1,096$757$510$337$220$57
34 years$1,052$717$477$310$199$49
35 years$1,011$680$446$286$180$42
36 years$972$645$417$263$163$37
37 years$935$613$390$242$148$32
38 years$901$583$365$223$134$27
39 years$868$554$342$206$122$23
40 years$837$527$321$190$110$20
41 years$807$502$301$175$100$17
42 years$779$478$282$162$91$15
43 years$753$455$265$149$82$13
44 years$727$434$249$138$75$11
45 years$703$414$233$127$68$10
46 years$680$395$219$118$62$8
47 years$658$377$206$109$56$7
48 years$637$360$194$100$51$6
49 years$617$343$182$93$46$5
50 years$598$328$171$86$42$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $612,000, adding $3,482 every year, while hoping to spend $41,206 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: 64/17/19 Blend
55$612,000$612,000$612,000$612,000
56$678,016$645,580$636,094$717,936
57$703,330$633,370$613,560$732,982
58$729,846$619,181$588,890$744,419
59$757,642$602,873$561,970$755,942
60$786,804$584,296$532,678$767,562
61$817,424$563,293$500,889$779,291
62$849,604$539,697$466,472$791,146
63$883,454$513,332$429,289$803,146
64$919,093$484,012$389,196$815,313
65$956,651$451,540$346,045$827,675
66$996,271$415,706$299,679$840,264
67$1,038,105$376,291$249,933$853,118
68$1,082,324$333,061$196,638$866,281
69$1,129,110$285,770$139,614$879,803
70$1,178,665$234,159$78,677$893,744
71$1,231,208$177,951$13,632$908,170
72$1,286,978$116,858$0$923,160
73$1,346,238$50,571$0$950,111
74$1,409,273$0$0$981,500
75$1,476,398$0$0$1,018,693
76$1,547,957$0$0$1,068,450
77$1,624,325$0$0$1,121,577
78$1,705,915$0$0$1,178,364
79$1,793,177$0$0$1,239,128
80$1,886,609$0$0$1,304,218
81$1,986,751$0$0$1,374,016
82$2,094,202$0$0$1,448,942
83$2,209,613$0$0$1,529,455
84$2,333,703$0$0$1,616,062
85$2,467,260$0$0$1,709,316
86$2,611,148$0$0$1,809,828
87$2,766,318$0$0$1,918,266
88$2,933,814$0$0$2,035,365
89$3,114,782$0$0$2,161,934
90$3,310,483$0$0$2,298,860
91$3,522,303$0$0$2,447,119
92$3,751,763$0$0$2,607,785
93$4,000,540$0$0$2,782,037
94$4,270,474$0$0$2,971,173
95$4,563,590$0$0$3,176,619
96$4,882,116$0$0$3,399,947
97$5,228,503$0$0$3,642,882
98$5,605,446$0$0$3,907,325
99$6,015,912$0$0$4,195,367
100$6,463,164$0$0$4,509,308