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%14.4%
1 years$50,786$50,334$49,892$49,462$49,041$48,149
2 years$25,142$24,673$24,220$23,780$23,353$22,458
3 years$16,595$16,124$15,672$15,236$14,816$13,945
4 years$12,322$11,853$11,405$10,977$10,567$9,727
5 years$9,759$9,293$8,851$8,431$8,033$7,227
6 years$8,051$7,588$7,153$6,742$6,356$5,584
7 years$6,831$6,373$5,944$5,543$5,169$4,432
8 years$5,917$5,463$5,041$4,650$4,288$3,586
9 years$5,206$4,756$4,342$3,961$3,611$2,943
10 years$4,638$4,192$3,785$3,414$3,077$2,442
11 years$4,173$3,732$3,332$2,971$2,646$2,044
12 years$3,787$3,350$2,957$2,606$2,293$1,723
13 years$3,459$3,027$2,642$2,301$2,000$1,460
14 years$3,179$2,752$2,374$2,043$1,753$1,243
15 years$2,937$2,514$2,144$1,822$1,544$1,063
16 years$2,725$2,306$1,943$1,631$1,364$912
17 years$2,538$2,124$1,768$1,466$1,210$784
18 years$2,372$1,963$1,614$1,321$1,075$676
19 years$2,224$1,819$1,478$1,193$959$583
20 years$2,090$1,690$1,356$1,081$856$505
21 years$1,970$1,574$1,248$981$766$437
22 years$1,860$1,470$1,150$892$687$379
23 years$1,761$1,375$1,062$812$617$329
24 years$1,669$1,288$982$741$554$286
25 years$1,586$1,209$909$677$499$249
26 years$1,508$1,136$843$619$449$216
27 years$1,437$1,069$783$566$405$188
28 years$1,371$1,007$728$519$365$164
29 years$1,309$950$678$476$330$143
30 years$1,252$897$631$437$298$125
31 years$1,198$848$588$401$270$109
32 years$1,148$803$549$369$244$95
33 years$1,101$760$513$339$221$83
34 years$1,057$721$479$312$200$72
35 years$1,016$683$448$287$181$63
36 years$977$649$419$264$164$55
37 years$940$616$392$244$149$48
38 years$905$585$367$225$135$42
39 years$872$557$344$207$122$37
40 years$841$530$322$191$111$32
41 years$811$504$302$176$101$28
42 years$783$480$284$163$91$24
43 years$756$458$266$150$83$21
44 years$731$436$250$139$75$19
45 years$706$416$235$128$68$16
46 years$683$397$220$118$62$14
47 years$661$379$207$109$56$12
48 years$640$361$194$101$51$11
49 years$620$345$183$93$46$10
50 years$600$330$172$86$42$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $615,000, adding $3,721 every year, while hoping to spend $48,207 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: 55/36/9 Blend
55$615,000$615,000$615,000$615,000
56$681,568$648,973$639,441$717,360
57$699,796$629,481$609,570$722,500
58$718,268$607,418$577,083$722,466
59$736,957$582,607$541,841$721,274
60$755,834$554,862$503,700$718,821
61$774,862$523,984$462,507$714,998
62$794,002$489,763$418,106$709,686
63$813,208$451,979$370,330$702,759
64$832,427$410,398$319,007$694,081
65$851,599$364,772$263,958$683,504
66$870,655$314,839$204,994$670,872
67$889,520$260,323$141,919$656,016
68$908,105$200,934$74,528$638,753
69$926,314$136,361$2,606$618,889
70$944,035$66,280$0$596,212
71$961,146$0$0$577,618
72$977,509$0$0$560,296
73$992,967$0$0$568,652
74$1,007,349$0$0$576,324
75$1,020,460$0$0$583,192
76$1,032,085$0$0$589,126
77$1,041,983$0$0$593,978
78$1,049,886$0$0$597,584
79$1,055,496$0$0$599,764
80$1,058,482$0$0$600,315
81$1,058,476$0$0$599,012
82$1,055,067$0$0$595,607
83$1,047,803$0$0$589,822
84$1,036,179$0$0$581,351
85$1,019,637$0$0$569,854
86$997,557$0$0$554,955
87$969,253$0$0$536,236
88$933,966$0$0$513,234
89$890,853$0$0$485,439
90$838,984$0$0$452,285
91$777,329$0$0$413,144
92$704,746$0$0$367,325
93$619,977$0$0$314,062
94$521,626$0$0$252,508
95$408,153$0$0$181,727
96$277,856$0$0$100,686
97$128,853$0$0$8,242
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0