Can I retire at age 56 with 613,000?

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 $613,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.9%
1 years$50,621$50,170$49,730$49,301$48,881$47,700
2 years$25,060$24,593$24,141$23,702$23,277$22,093
3 years$16,541$16,072$15,621$15,186$14,768$13,620
4 years$12,282$11,815$11,368$10,941$10,533$9,428
5 years$9,727$9,263$8,822$8,404$8,007$6,950
6 years$8,025$7,564$7,129$6,720$6,335$5,327
7 years$6,809$6,352$5,925$5,525$5,152$4,192
8 years$5,898$5,445$5,025$4,635$4,274$3,362
9 years$5,189$4,741$4,328$3,948$3,600$2,734
10 years$4,623$4,179$3,773$3,403$3,067$2,248
11 years$4,160$3,720$3,322$2,962$2,638$1,864
12 years$3,774$3,339$2,948$2,598$2,286$1,556
13 years$3,448$3,017$2,634$2,294$1,993$1,306
14 years$3,169$2,743$2,366$2,036$1,747$1,100
15 years$2,927$2,506$2,137$1,816$1,538$931
16 years$2,716$2,299$1,937$1,626$1,360$790
17 years$2,530$2,117$1,763$1,461$1,206$672
18 years$2,364$1,956$1,609$1,316$1,072$573
19 years$2,216$1,813$1,473$1,190$955$489
20 years$2,083$1,685$1,352$1,077$853$418
21 years$1,963$1,569$1,243$978$764$358
22 years$1,854$1,465$1,146$889$685$307
23 years$1,755$1,370$1,058$810$615$264
24 years$1,664$1,284$979$738$552$226
25 years$1,580$1,205$906$674$497$194
26 years$1,503$1,132$841$617$448$167
27 years$1,432$1,066$781$564$404$144
28 years$1,366$1,004$726$517$364$124
29 years$1,305$947$675$474$329$107
30 years$1,248$895$629$435$297$92
31 years$1,194$846$586$400$269$79
32 years$1,145$800$547$367$243$68
33 years$1,098$758$511$338$220$59
34 years$1,054$718$477$311$199$51
35 years$1,013$681$446$286$180$44
36 years$974$647$417$263$163$38
37 years$937$614$391$243$148$32
38 years$902$584$366$224$134$28
39 years$869$555$343$206$122$24
40 years$838$528$321$190$110$21
41 years$809$503$301$176$100$18
42 years$780$479$283$162$91$15
43 years$754$456$265$150$83$13
44 years$728$435$249$138$75$12
45 years$704$415$234$128$68$10
46 years$681$395$220$118$62$9
47 years$659$377$206$109$56$7
48 years$638$360$194$101$51$6
49 years$618$344$182$93$46$5
50 years$599$329$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 $613,000, adding $5,485 every year, while hoping to spend $38,257 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: 42/29/29 Blend
55$613,000$613,000$613,000$613,000
56$681,184$648,695$639,193$703,817
57$709,959$639,776$619,901$711,735
58$740,388$629,137$598,680$716,308
59$772,597$616,655$575,426$720,537
60$806,728$602,197$550,029$724,415
61$842,933$585,623$522,373$727,935
62$881,379$566,786$492,340$731,095
63$922,249$545,528$459,803$733,892
64$965,744$521,684$424,631$736,331
65$1,012,082$495,079$386,689$738,419
66$1,061,503$465,526$345,832$740,168
67$1,114,270$432,831$301,911$741,593
68$1,170,671$396,785$254,770$742,720
69$1,231,022$357,169$204,247$743,579
70$1,295,667$313,752$150,170$744,209
71$1,364,988$266,288$92,364$744,657
72$1,439,400$214,519$30,641$744,982
73$1,519,360$158,172$0$745,255
74$1,605,370$96,958$0$756,460
75$1,697,981$30,572$0$778,622
76$1,797,797$0$0$802,433
77$1,905,483$0$0$841,277
78$2,021,769$0$0$893,818
79$2,147,457$0$0$950,670
80$2,283,428$0$0$1,012,240
81$2,430,651$0$0$1,078,975
82$2,590,192$0$0$1,151,368
83$2,763,223$0$0$1,229,957
84$2,951,030$0$0$1,315,340
85$3,155,031$0$0$1,408,168
86$3,376,785$0$0$1,509,164
87$3,618,007$0$0$1,619,117
88$3,880,581$0$0$1,738,901
89$4,166,584$0$0$1,869,473
90$4,478,301$0$0$2,011,890
91$4,818,245$0$0$2,167,313
92$5,189,182$0$0$2,337,020
93$5,594,158$0$0$2,522,420
94$6,036,526$0$0$2,725,062
95$6,519,976$0$0$2,946,652
96$7,048,571$0$0$3,189,069
97$7,626,785$0$0$3,454,381
98$8,259,543$0$0$3,744,865
99$8,952,270$0$0$4,063,031
100$9,710,938$0$0$4,411,639