Can I retire at age 56 with 617,000?

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 $617,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11%
1 years$50,951$50,497$50,055$49,622$49,200$48,993
2 years$25,223$24,754$24,298$23,857$23,429$23,219
3 years$16,649$16,177$15,723$15,285$14,864$14,659
4 years$12,362$11,892$11,442$11,012$10,601$10,403
5 years$9,791$9,323$8,880$8,458$8,059$7,867
6 years$8,077$7,613$7,176$6,764$6,377$6,192
7 years$6,854$6,393$5,963$5,561$5,186$5,008
8 years$5,936$5,480$5,057$4,665$4,302$4,131
9 years$5,223$4,772$4,356$3,974$3,623$3,459
10 years$4,653$4,206$3,798$3,425$3,087$2,930
11 years$4,187$3,744$3,343$2,981$2,655$2,505
12 years$3,799$3,361$2,967$2,615$2,301$2,157
13 years$3,471$3,037$2,651$2,309$2,006$1,869
14 years$3,190$2,761$2,382$2,049$1,759$1,628
15 years$2,946$2,522$2,150$1,828$1,549$1,424
16 years$2,734$2,314$1,950$1,636$1,369$1,250
17 years$2,546$2,131$1,774$1,470$1,213$1,101
18 years$2,380$1,969$1,620$1,325$1,079$972
19 years$2,231$1,825$1,483$1,197$962$860
20 years$2,097$1,696$1,361$1,084$859$763
21 years$1,976$1,580$1,252$984$769$678
22 years$1,866$1,474$1,154$895$689$603
23 years$1,766$1,379$1,065$815$619$538
24 years$1,675$1,292$985$743$556$480
25 years$1,591$1,213$912$679$500$428
26 years$1,513$1,140$846$621$451$383
27 years$1,442$1,072$786$568$406$342
28 years$1,375$1,011$730$520$367$307
29 years$1,313$953$680$477$331$275
30 years$1,256$900$633$438$299$246
31 years$1,202$851$590$402$270$221
32 years$1,152$805$551$370$245$198
33 years$1,105$763$514$340$221$178
34 years$1,061$723$480$313$200$160
35 years$1,019$686$449$288$182$143
36 years$980$651$420$265$164$129
37 years$943$618$393$244$149$116
38 years$908$587$368$225$135$104
39 years$875$559$345$208$123$94
40 years$844$531$323$192$111$84
41 years$814$506$303$177$101$76
42 years$786$482$284$163$92$68
43 years$759$459$267$151$83$61
44 years$733$438$251$139$75$55
45 years$709$417$235$128$68$50
46 years$685$398$221$119$62$45
47 years$663$380$208$110$56$40
48 years$642$363$195$101$51$36
49 years$622$346$183$94$47$33
50 years$602$331$172$86$42$29

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $617,000, adding $4,699 every year, while hoping to spend $54,149 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: 78/13/9 Blend
55$617,000$617,000$617,000$617,000
56$684,781$652,080$642,517$736,867
57$697,015$626,418$606,427$746,082
58$708,681$597,683$567,313$748,715
59$719,666$565,669$525,017$750,023
60$729,840$530,155$479,373$749,851
61$739,059$490,908$430,208$748,028
62$747,165$447,685$377,342$744,367
63$753,978$400,224$320,585$738,660
64$759,301$348,251$259,741$730,682
65$762,911$291,477$194,604$720,185
66$764,563$229,595$124,959$706,895
67$763,985$162,281$50,582$690,514
68$760,873$89,195$0$670,712
69$754,891$9,974$0$649,894
70$745,666$0$0$630,262
71$732,784$0$0$617,381
72$715,786$0$0$602,377
73$694,165$0$0$583,386
74$667,357$0$0$559,924
75$634,740$0$0$531,456
76$595,624$0$0$497,389
77$549,247$0$0$457,065
78$494,765$0$0$409,761
79$431,245$0$0$354,673
80$357,655$0$0$290,914
81$272,856$0$0$217,503
82$175,586$0$0$133,358
83$64,455$0$0$37,280
84$0$0$0$0
85$0$0$0$0
86$0$0$0$0
87$0$0$0$0
88$0$0$0$0
89$0$0$0$0
90$0$0$0$0
91$0$0$0$0
92$0$0$0$0
93$0$0$0$0
94$0$0$0$0
95$0$0$0$0
96$0$0$0$0
97$0$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0