Can I retire at age 56 with 618,000?

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 $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%18.2%
1 years$51,034$50,579$50,136$49,703$49,280$47,646
2 years$25,264$24,794$24,338$23,896$23,467$21,836
3 years$16,676$16,203$15,748$15,310$14,888$13,312
4 years$12,382$11,911$11,461$11,030$10,618$9,109
5 years$9,807$9,338$8,894$8,472$8,072$6,634
6 years$8,090$7,625$7,188$6,775$6,387$5,021
7 years$6,865$6,404$5,973$5,570$5,194$3,900
8 years$5,946$5,489$5,066$4,673$4,309$3,086
9 years$5,232$4,779$4,363$3,980$3,629$2,475
10 years$4,661$4,213$3,804$3,431$3,092$2,006
11 years$4,194$3,750$3,349$2,986$2,659$1,639
12 years$3,805$3,366$2,972$2,619$2,305$1,347
13 years$3,476$3,042$2,655$2,312$2,010$1,113
14 years$3,195$2,765$2,386$2,053$1,762$923
15 years$2,951$2,526$2,154$1,831$1,551$769
16 years$2,738$2,318$1,953$1,639$1,371$642
17 years$2,550$2,134$1,777$1,473$1,215$537
18 years$2,383$1,972$1,622$1,327$1,081$450
19 years$2,234$1,828$1,485$1,199$963$377
20 years$2,100$1,699$1,363$1,086$860$317
21 years$1,979$1,582$1,254$986$770$267
22 years$1,869$1,477$1,155$896$690$225
23 years$1,769$1,381$1,067$816$620$189
24 years$1,678$1,294$987$744$557$160
25 years$1,593$1,215$914$680$501$135
26 years$1,516$1,141$848$622$451$114
27 years$1,444$1,074$787$569$407$96
28 years$1,377$1,012$732$521$367$81
29 years$1,316$955$681$478$332$68
30 years$1,258$902$634$439$300$58
31 years$1,204$853$591$403$271$49
32 years$1,154$807$552$370$245$41
33 years$1,107$764$515$341$222$35
34 years$1,062$724$481$313$201$30
35 years$1,021$687$450$288$182$25
36 years$982$652$421$266$165$21
37 years$944$619$394$245$149$18
38 years$909$588$369$226$135$15
39 years$876$559$346$208$123$13
40 years$845$532$324$192$111$11
41 years$815$507$304$177$101$9
42 years$787$483$285$163$92$8
43 years$760$460$267$151$83$7
44 years$734$438$251$139$76$6
45 years$710$418$236$129$69$5
46 years$687$399$221$119$62$4
47 years$664$380$208$110$57$3
48 years$643$363$195$101$51$3
49 years$623$347$184$94$47$2
50 years$603$331$173$87$42$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $618,000, adding $4,611 every year, while hoping to spend $45,919 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: 55/22/23 Blend
55$618,000$618,000$618,000$618,000
56$685,792$653,038$643,459$718,966
57$706,886$636,180$616,158$725,369
58$728,591$616,956$586,402$727,130
59$750,924$595,203$554,063$728,077
60$773,897$570,746$519,003$728,144
61$797,524$543,402$481,079$727,266
62$821,818$512,976$440,142$725,368
63$846,794$479,262$396,037$722,375
64$872,463$442,042$348,600$718,206
65$898,838$401,086$297,663$712,775
66$925,931$356,151$243,046$705,990
67$953,753$306,980$184,565$697,756
68$982,315$253,300$122,027$687,970
69$1,011,625$194,826$55,228$676,523
70$1,041,691$131,253$0$663,300
71$1,072,521$62,262$0$652,121
72$1,104,120$0$0$653,636
73$1,136,492$0$0$657,218
74$1,169,637$0$0$676,312
75$1,203,556$0$0$695,843
76$1,238,245$0$0$715,808
77$1,273,698$0$0$736,204
78$1,309,906$0$0$757,022
79$1,346,855$0$0$778,254
80$1,384,527$0$0$799,888
81$1,422,902$0$0$821,909
82$1,461,951$0$0$844,301
83$1,501,641$0$0$867,041
84$1,541,933$0$0$890,104
85$1,582,779$0$0$913,460
86$1,624,124$0$0$937,075
87$1,665,903$0$0$960,907
88$1,708,041$0$0$984,909
89$1,750,451$0$0$1,009,029
90$1,793,036$0$0$1,033,204
91$1,835,681$0$0$1,057,364
92$1,878,259$0$0$1,081,431
93$1,920,623$0$0$1,105,312
94$1,962,607$0$0$1,128,908
95$2,004,026$0$0$1,152,101
96$2,044,668$0$0$1,174,765
97$2,084,296$0$0$1,196,751
98$2,122,646$0$0$1,217,899
99$2,159,418$0$0$1,238,025
100$2,194,280$0$0$1,256,924