Can I retire at age 56 with 613,000?

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 $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%18.6%
1 years$50,621$50,170$49,730$49,301$48,881$47,185
2 years$25,060$24,593$24,141$23,702$23,277$21,585
3 years$16,541$16,072$15,621$15,186$14,768$13,134
4 years$12,282$11,815$11,368$10,941$10,533$8,969
5 years$9,727$9,263$8,822$8,404$8,007$6,518
6 years$8,025$7,564$7,129$6,720$6,335$4,922
7 years$6,809$6,352$5,925$5,525$5,152$3,815
8 years$5,898$5,445$5,025$4,635$4,274$3,011
9 years$5,189$4,741$4,328$3,948$3,600$2,409
10 years$4,623$4,179$3,773$3,403$3,067$1,948
11 years$4,160$3,720$3,322$2,962$2,638$1,587
12 years$3,774$3,339$2,948$2,598$2,286$1,301
13 years$3,448$3,017$2,634$2,294$1,993$1,072
14 years$3,169$2,743$2,366$2,036$1,747$887
15 years$2,927$2,506$2,137$1,816$1,538$736
16 years$2,716$2,299$1,937$1,626$1,360$613
17 years$2,530$2,117$1,763$1,461$1,206$511
18 years$2,364$1,956$1,609$1,316$1,072$427
19 years$2,216$1,813$1,473$1,190$955$357
20 years$2,083$1,685$1,352$1,077$853$299
21 years$1,963$1,569$1,243$978$764$251
22 years$1,854$1,465$1,146$889$685$211
23 years$1,755$1,370$1,058$810$615$177
24 years$1,664$1,284$979$738$552$149
25 years$1,580$1,205$906$674$497$125
26 years$1,503$1,132$841$617$448$105
27 years$1,432$1,066$781$564$404$89
28 years$1,366$1,004$726$517$364$75
29 years$1,305$947$675$474$329$63
30 years$1,248$895$629$435$297$53
31 years$1,194$846$586$400$269$45
32 years$1,145$800$547$367$243$38
33 years$1,098$758$511$338$220$32
34 years$1,054$718$477$311$199$27
35 years$1,013$681$446$286$180$22
36 years$974$647$417$263$163$19
37 years$937$614$391$243$148$16
38 years$902$584$366$224$134$13
39 years$869$555$343$206$122$11
40 years$838$528$321$190$110$10
41 years$809$503$301$176$100$8
42 years$780$479$283$162$91$7
43 years$754$456$265$150$83$6
44 years$728$435$249$138$75$5
45 years$704$415$234$128$68$4
46 years$681$395$220$118$62$3
47 years$659$377$206$109$56$3
48 years$638$360$194$101$51$2
49 years$618$344$182$93$46$2
50 years$599$329$171$86$42$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $613,000, adding $2,066 every year, while hoping to spend $33,255 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: 67/27/6 Blend
55$613,000$613,000$613,000$613,000
56$677,657$645,168$635,667$722,312
57$711,395$641,398$621,578$748,416
58$747,460$636,329$605,904$772,729
59$786,053$629,862$588,554$798,413
60$827,398$621,892$569,437$825,596
61$871,736$612,308$548,457$854,419
62$919,334$600,993$525,512$885,041
63$970,487$587,822$500,497$917,636
64$1,025,514$572,663$473,302$952,397
65$1,084,770$555,377$443,810$989,539
66$1,148,641$535,814$411,902$1,029,298
67$1,217,553$513,820$377,452$1,071,936
68$1,291,975$489,229$340,328$1,117,744
69$1,372,420$461,865$300,392$1,167,044
70$1,459,453$431,542$257,502$1,220,192
71$1,553,695$398,066$211,507$1,277,580
72$1,655,830$361,229$162,250$1,339,647
73$1,766,608$320,813$109,568$1,406,873
74$1,886,854$276,585$53,291$1,479,792
75$2,017,477$228,301$0$1,558,995
76$2,159,476$175,704$0$1,645,568
77$2,313,949$118,521$0$1,743,469
78$2,482,107$56,463$0$1,850,094
79$2,665,278$0$0$1,966,340
80$2,864,928$0$0$2,096,397
81$3,082,668$0$0$2,256,568
82$3,320,271$0$0$2,431,386
83$3,579,689$0$0$2,622,291
84$3,863,072$0$0$2,830,871
85$4,172,784$0$0$3,058,870
86$4,511,432$0$0$3,308,212
87$4,881,881$0$0$3,581,013
88$5,287,290$0$0$3,879,603
89$5,731,136$0$0$4,206,550
90$6,217,248$0$0$4,564,678
91$6,749,841$0$0$4,957,102
92$7,333,559$0$0$5,387,247
93$7,973,516$0$0$5,858,890
94$8,675,345$0$0$6,376,187
95$9,445,249$0$0$6,943,720
96$10,290,062$0$0$7,566,531
97$11,217,309$0$0$8,250,177
98$12,235,282$0$0$9,000,779
99$13,353,113$0$0$9,825,078
100$14,580,863$0$0$10,730,502