Can I retire at age 56 with 618,000?

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 $618,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.6%
1 years$51,034$50,579$50,136$49,703$49,280$47,953
2 years$25,264$24,794$24,338$23,896$23,467$22,139
3 years$16,676$16,203$15,748$15,310$14,888$13,601
4 years$12,382$11,911$11,461$11,030$10,618$9,383
5 years$9,807$9,338$8,894$8,472$8,072$6,891
6 years$8,090$7,625$7,188$6,775$6,387$5,261
7 years$6,865$6,404$5,973$5,570$5,194$4,124
8 years$5,946$5,489$5,066$4,673$4,309$3,294
9 years$5,232$4,779$4,363$3,980$3,629$2,668
10 years$4,661$4,213$3,804$3,431$3,092$2,184
11 years$4,194$3,750$3,349$2,986$2,659$1,803
12 years$3,805$3,366$2,972$2,619$2,305$1,498
13 years$3,476$3,042$2,655$2,312$2,010$1,251
14 years$3,195$2,765$2,386$2,053$1,762$1,049
15 years$2,951$2,526$2,154$1,831$1,551$883
16 years$2,738$2,318$1,953$1,639$1,371$746
17 years$2,550$2,134$1,777$1,473$1,215$631
18 years$2,383$1,972$1,622$1,327$1,081$535
19 years$2,234$1,828$1,485$1,199$963$455
20 years$2,100$1,699$1,363$1,086$860$387
21 years$1,979$1,582$1,254$986$770$330
22 years$1,869$1,477$1,155$896$690$281
23 years$1,769$1,381$1,067$816$620$240
24 years$1,678$1,294$987$744$557$205
25 years$1,593$1,215$914$680$501$175
26 years$1,516$1,141$848$622$451$150
27 years$1,444$1,074$787$569$407$128
28 years$1,377$1,012$732$521$367$109
29 years$1,316$955$681$478$332$94
30 years$1,258$902$634$439$300$80
31 years$1,204$853$591$403$271$69
32 years$1,154$807$552$370$245$59
33 years$1,107$764$515$341$222$50
34 years$1,062$724$481$313$201$43
35 years$1,021$687$450$288$182$37
36 years$982$652$421$266$165$32
37 years$944$619$394$245$149$27
38 years$909$588$369$226$135$23
39 years$876$559$346$208$123$20
40 years$845$532$324$192$111$17
41 years$815$507$304$177$101$15
42 years$787$483$285$163$92$13
43 years$760$460$267$151$83$11
44 years$734$438$251$139$76$9
45 years$710$418$236$129$69$8
46 years$687$399$221$119$62$7
47 years$664$380$208$110$57$6
48 years$643$363$195$101$51$5
49 years$623$347$184$94$47$4
50 years$603$331$173$87$42$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $618,000, adding $5,250 every year, while hoping to spend $31,324 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: 61/28/11 Blend
55$618,000$618,000$618,000$618,000
56$686,451$653,697$644,118$726,246
57$723,141$652,400$632,368$752,277
58$762,523$649,989$619,174$776,626
59$804,839$646,378$604,455$802,424
60$850,354$641,472$588,126$829,812
61$899,360$635,173$570,098$858,947
62$952,176$627,378$550,277$890,002
63$1,009,153$617,974$528,566$923,171
64$1,070,677$606,846$504,864$958,666
65$1,137,172$593,867$479,063$996,724
66$1,209,104$578,907$451,052$1,037,606
67$1,286,985$561,826$420,715$1,081,604
68$1,371,379$542,477$387,930$1,129,039
69$1,462,904$520,703$352,570$1,180,266
70$1,562,241$496,338$314,502$1,235,680
71$1,670,140$469,209$273,588$1,295,717
72$1,787,424$439,130$229,683$1,360,860
73$1,914,998$405,905$182,635$1,431,644
74$2,053,862$369,327$132,286$1,508,661
75$2,205,110$329,179$78,472$1,592,564
76$2,369,951$285,228$21,021$1,684,079
77$2,549,713$237,232$0$1,784,007
78$2,745,859$184,932$0$1,897,962
79$2,959,998$128,055$0$2,025,137
80$3,193,903$66,314$0$2,164,166
81$3,449,523$0$0$2,316,274
82$3,729,006$0$0$2,482,992
83$4,034,717$0$0$2,687,750
84$4,369,259$0$0$2,911,865
85$4,735,499$0$0$3,157,264
86$5,136,594$0$0$3,426,067
87$5,576,020$0$0$3,720,612
88$6,057,605$0$0$4,043,471
89$6,585,566$0$0$4,397,477
90$7,164,546$0$0$4,785,751
91$7,799,661$0$0$5,211,730
92$8,496,545$0$0$5,679,201
93$9,261,401$0$0$6,192,334
94$10,101,067$0$0$6,755,724
95$11,023,072$0$0$7,374,429
96$12,035,709$0$0$8,054,026
97$13,148,116$0$0$8,800,655
98$14,370,359$0$0$9,621,081
99$15,713,526$0$0$10,522,758
100$17,189,834$0$0$11,513,896