Can I retire at age 56 with 617,000?

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 $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%14.6%
1 years$50,951$50,497$50,055$49,622$49,200$48,266
2 years$25,223$24,754$24,298$23,857$23,429$22,491
3 years$16,649$16,177$15,723$15,285$14,864$13,953
4 years$12,362$11,892$11,442$11,012$10,601$9,723
5 years$9,791$9,323$8,880$8,458$8,059$7,216
6 years$8,077$7,613$7,176$6,764$6,377$5,570
7 years$6,854$6,393$5,963$5,561$5,186$4,416
8 years$5,936$5,480$5,057$4,665$4,302$3,568
9 years$5,223$4,772$4,356$3,974$3,623$2,925
10 years$4,653$4,206$3,798$3,425$3,087$2,424
11 years$4,187$3,744$3,343$2,981$2,655$2,026
12 years$3,799$3,361$2,967$2,615$2,301$1,706
13 years$3,471$3,037$2,651$2,309$2,006$1,444
14 years$3,190$2,761$2,382$2,049$1,759$1,228
15 years$2,946$2,522$2,150$1,828$1,549$1,048
16 years$2,734$2,314$1,950$1,636$1,369$898
17 years$2,546$2,131$1,774$1,470$1,213$771
18 years$2,380$1,969$1,620$1,325$1,079$663
19 years$2,231$1,825$1,483$1,197$962$572
20 years$2,097$1,696$1,361$1,084$859$494
21 years$1,976$1,580$1,252$984$769$427
22 years$1,866$1,474$1,154$895$689$370
23 years$1,766$1,379$1,065$815$619$321
24 years$1,675$1,292$985$743$556$278
25 years$1,591$1,213$912$679$500$242
26 years$1,513$1,140$846$621$451$210
27 years$1,442$1,072$786$568$406$182
28 years$1,375$1,011$730$520$367$159
29 years$1,313$953$680$477$331$138
30 years$1,256$900$633$438$299$120
31 years$1,202$851$590$402$270$105
32 years$1,152$805$551$370$245$91
33 years$1,105$763$514$340$221$79
34 years$1,061$723$480$313$200$69
35 years$1,019$686$449$288$182$60
36 years$980$651$420$265$164$53
37 years$943$618$393$244$149$46
38 years$908$587$368$225$135$40
39 years$875$559$345$208$123$35
40 years$844$531$323$192$111$30
41 years$814$506$303$177$101$26
42 years$786$482$284$163$92$23
43 years$759$459$267$151$83$20
44 years$733$438$251$139$75$18
45 years$709$417$235$128$68$15
46 years$685$398$221$119$62$13
47 years$663$380$208$110$56$12
48 years$642$363$195$101$51$10
49 years$622$346$183$94$47$9
50 years$602$331$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 $617,000, adding $4,286 every year, while hoping to spend $33,029 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: 34/39/27 Blend
55$617,000$617,000$617,000$617,000
56$684,355$651,654$642,091$701,907
57$719,017$648,442$628,458$712,262
58$756,107$643,967$613,262$720,157
59$795,838$638,129$596,415$728,026
60$838,444$630,829$577,825$735,889
61$884,181$621,955$557,398$743,772
62$933,331$611,393$535,033$751,704
63$986,200$599,021$510,627$759,723
64$1,043,129$584,710$484,069$767,871
65$1,104,489$568,322$455,247$776,201
66$1,170,690$549,712$424,040$784,772
67$1,242,179$528,727$390,324$793,656
68$1,319,451$505,204$353,970$802,935
69$1,403,047$478,971$314,840$812,704
70$1,493,564$449,847$272,793$823,072
71$1,591,657$417,639$227,682$834,165
72$1,698,047$382,144$179,350$846,126
73$1,813,526$343,147$127,636$859,120
74$1,938,965$300,421$72,371$873,333
75$2,075,324$253,726$13,380$888,977
76$2,223,656$202,808$0$906,292
77$2,385,123$147,400$0$939,832
78$2,561,002$87,218$0$980,664
79$2,752,696$21,964$0$1,025,334
80$2,961,754$0$0$1,074,289
81$3,189,876$0$0$1,148,923
82$3,438,936$0$0$1,240,784
83$3,710,997$0$0$1,341,217
84$4,008,328$0$0$1,451,071
85$4,333,430$0$0$1,571,280
86$4,689,054$0$0$1,702,876
87$5,078,231$0$0$1,846,991
88$5,504,297$0$0$2,004,874
89$5,970,926$0$0$2,177,901
90$6,482,165$0$0$2,367,584
91$7,042,470$0$0$2,575,593
92$7,656,748$0$0$2,803,764
93$8,330,405$0$0$3,054,120
94$9,069,395$0$0$3,328,890
95$9,880,273$0$0$3,630,529
96$10,770,264$0$0$3,961,742
97$11,747,323$0$0$4,325,506
98$12,820,215$0$0$4,725,104
99$13,998,594$0$0$5,164,150
100$15,293,096$0$0$5,646,627