Can I retire at age 56 with 615,000?

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 $615,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.8%
1 years$50,786$50,334$49,892$49,462$49,041$48,671
2 years$25,142$24,673$24,220$23,780$23,353$22,980
3 years$16,595$16,124$15,672$15,236$14,816$14,451
4 years$12,322$11,853$11,405$10,977$10,567$10,213
5 years$9,759$9,293$8,851$8,431$8,033$7,692
6 years$8,051$7,588$7,153$6,742$6,356$6,028
7 years$6,831$6,373$5,944$5,543$5,169$4,854
8 years$5,917$5,463$5,041$4,650$4,288$3,986
9 years$5,206$4,756$4,342$3,961$3,611$3,322
10 years$4,638$4,192$3,785$3,414$3,077$2,800
11 years$4,173$3,732$3,332$2,971$2,646$2,382
12 years$3,787$3,350$2,957$2,606$2,293$2,041
13 years$3,459$3,027$2,642$2,301$2,000$1,760
14 years$3,179$2,752$2,374$2,043$1,753$1,525
15 years$2,937$2,514$2,144$1,822$1,544$1,327
16 years$2,725$2,306$1,943$1,631$1,364$1,158
17 years$2,538$2,124$1,768$1,466$1,210$1,015
18 years$2,372$1,963$1,614$1,321$1,075$891
19 years$2,224$1,819$1,478$1,193$959$784
20 years$2,090$1,690$1,356$1,081$856$691
21 years$1,970$1,574$1,248$981$766$611
22 years$1,860$1,470$1,150$892$687$540
23 years$1,761$1,375$1,062$812$617$478
24 years$1,669$1,288$982$741$554$424
25 years$1,586$1,209$909$677$499$376
26 years$1,508$1,136$843$619$449$334
27 years$1,437$1,069$783$566$405$297
28 years$1,371$1,007$728$519$365$264
29 years$1,309$950$678$476$330$235
30 years$1,252$897$631$437$298$210
31 years$1,198$848$588$401$270$187
32 years$1,148$803$549$369$244$167
33 years$1,101$760$513$339$221$148
34 years$1,057$721$479$312$200$132
35 years$1,016$683$448$287$181$118
36 years$977$649$419$264$164$105
37 years$940$616$392$244$149$94
38 years$905$585$367$225$135$84
39 years$872$557$344$207$122$75
40 years$841$530$322$191$111$67
41 years$811$504$302$176$101$60
42 years$783$480$284$163$91$54
43 years$756$458$266$150$83$48
44 years$731$436$250$139$75$43
45 years$706$416$235$128$68$38
46 years$683$397$220$118$62$34
47 years$661$379$207$109$56$31
48 years$640$361$194$101$51$27
49 years$620$345$183$93$46$24
50 years$600$330$172$86$42$22

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $615,000, adding $2,742 every year, while hoping to spend $34,914 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: 84/5/11 Blend
55$615,000$615,000$615,000$615,000
56$680,558$647,963$638,431$736,285
57$712,827$642,565$622,670$767,751
58$747,217$635,733$605,211$797,350
59$783,908$627,358$585,960$828,797
60$823,096$617,328$564,819$862,257
61$864,997$605,523$541,686$897,913
62$909,847$591,814$516,453$935,964
63$957,906$576,067$489,008$976,630
64$1,009,457$558,138$459,235$1,020,154
65$1,064,812$537,878$427,010$1,066,803
66$1,124,314$515,125$392,206$1,116,870
67$1,188,338$489,710$354,689$1,170,680
68$1,257,297$461,454$314,319$1,228,588
69$1,331,643$430,168$270,951$1,290,990
70$1,411,876$395,651$224,433$1,358,316
71$1,498,540$357,691$174,605$1,431,045
72$1,592,239$316,065$121,301$1,509,702
73$1,693,631$270,536$64,348$1,594,867
74$1,803,443$220,854$3,566$1,687,179
75$1,922,473$166,755$0$1,787,340
76$2,051,599$107,960$0$1,903,322
77$2,191,787$44,175$0$2,029,700
78$2,344,098$0$0$2,167,020
79$2,509,701$0$0$2,317,717
80$2,689,879$0$0$2,484,333
81$2,886,048$0$0$2,665,746
82$3,099,763$0$0$2,863,394
83$3,332,736$0$0$3,078,864
84$3,586,852$0$0$3,313,898
85$3,864,183$0$0$3,570,418
86$4,167,014$0$0$3,850,535
87$4,497,858$0$0$4,156,576
88$4,859,480$0$0$4,491,102
89$5,254,927$0$0$4,856,932
90$5,687,553$0$0$5,257,171
91$6,161,050$0$0$5,695,236
92$6,679,485$0$0$6,174,891
93$7,247,336$0$0$6,700,282
94$7,869,533$0$0$7,275,972
95$8,551,509$0$0$7,906,989
96$9,299,243$0$0$8,598,869
97$10,119,324$0$0$9,357,710
98$11,019,007$0$0$10,190,227
99$12,006,284$0$0$11,103,820
100$13,089,959$0$0$12,106,636