Can I retire at age 56 with 619,000?

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 $619,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.3%
1 years$51,116$50,661$50,217$49,783$49,360$47,514
2 years$25,305$24,834$24,377$23,934$23,505$21,666
3 years$16,703$16,229$15,774$15,335$14,912$13,139
4 years$12,402$11,930$11,479$11,048$10,636$8,941
5 years$9,822$9,353$8,908$8,486$8,085$6,473
6 years$8,103$7,638$7,199$6,786$6,397$4,870
7 years$6,876$6,414$5,983$5,579$5,203$3,759
8 years$5,956$5,498$5,074$4,680$4,316$2,955
9 years$5,240$4,787$4,370$3,987$3,635$2,354
10 years$4,668$4,220$3,810$3,437$3,097$1,895
11 years$4,201$3,756$3,354$2,991$2,664$1,537
12 years$3,811$3,372$2,977$2,623$2,308$1,254
13 years$3,482$3,047$2,659$2,316$2,013$1,029
14 years$3,200$2,770$2,390$2,056$1,764$847
15 years$2,956$2,530$2,157$1,833$1,554$699
16 years$2,742$2,321$1,956$1,642$1,373$579
17 years$2,554$2,138$1,780$1,475$1,217$480
18 years$2,387$1,975$1,625$1,329$1,082$399
19 years$2,238$1,831$1,487$1,201$965$332
20 years$2,104$1,701$1,365$1,088$862$277
21 years$1,983$1,585$1,256$987$771$231
22 years$1,872$1,479$1,157$898$691$193
23 years$1,772$1,384$1,069$818$621$161
24 years$1,680$1,296$988$746$558$135
25 years$1,596$1,216$915$681$502$113
26 years$1,518$1,143$849$623$452$94
27 years$1,446$1,076$788$570$408$79
28 years$1,380$1,014$733$522$368$66
29 years$1,318$956$682$479$332$55
30 years$1,260$903$635$439$300$46
31 years$1,206$854$592$404$271$39
32 years$1,156$808$553$371$245$32
33 years$1,109$765$516$341$222$27
34 years$1,064$725$482$314$201$23
35 years$1,022$688$451$289$182$19
36 years$983$653$422$266$165$16
37 years$946$620$395$245$150$13
38 years$911$589$370$226$136$11
39 years$878$560$346$208$123$9
40 years$846$533$324$192$112$8
41 years$816$507$304$177$101$7
42 years$788$483$285$164$92$6
43 years$761$461$268$151$83$5
44 years$735$439$251$139$76$4
45 years$711$419$236$129$69$3
46 years$688$399$222$119$62$3
47 years$665$381$208$110$57$2
48 years$644$364$196$102$51$2
49 years$624$347$184$94$47$2
50 years$604$332$173$87$42$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $619,000, adding $2,048 every year, while hoping to spend $22,426 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: 40/32/28 Blend
55$619,000$619,000$619,000$619,000
56$684,251$651,444$641,849$705,893
57$730,183$659,503$639,490$729,874
58$780,049$667,206$636,300$753,567
59$834,226$674,511$632,228$778,773
60$893,129$681,374$627,220$805,645
61$957,216$687,749$621,219$834,352
62$1,026,988$693,585$614,167$865,082
63$1,103,000$698,830$606,000$898,043
64$1,185,859$703,426$596,654$933,465
65$1,276,236$707,313$586,062$971,604
66$1,374,869$710,428$574,151$1,012,744
67$1,482,568$712,701$560,848$1,057,197
68$1,600,227$714,061$546,074$1,105,310
69$1,728,831$714,431$529,748$1,157,467
70$1,869,462$713,728$511,784$1,214,095
71$2,023,312$711,866$492,094$1,275,663
72$2,191,695$708,752$470,584$1,342,693
73$2,376,055$704,289$447,157$1,415,760
74$2,577,987$698,372$421,710$1,495,503
75$2,799,241$690,893$394,137$1,582,626
76$3,041,750$681,733$364,327$1,677,909
77$3,307,640$670,769$332,163$1,782,215
78$3,599,253$657,871$297,525$1,896,497
79$3,919,169$642,899$260,284$2,021,808
80$4,270,230$625,706$220,309$2,159,314
81$4,655,565$606,137$177,460$2,310,302
82$5,078,621$584,027$131,594$2,476,195
83$5,543,198$559,201$82,560$2,658,565
84$6,053,477$531,475$30,199$2,859,148
85$6,614,069$500,655$0$3,079,863
86$7,230,050$466,533$0$3,330,502
87$7,907,014$428,891$0$3,615,859
88$8,651,122$387,499$0$3,929,541
89$9,469,163$342,114$0$4,274,459
90$10,368,616$292,476$0$4,653,823
91$11,357,723$238,315$0$5,071,172
92$12,445,560$179,342$0$5,530,413
93$13,642,132$115,254$0$6,035,851
94$14,958,458$45,730$0$6,592,237
95$16,406,681$0$0$7,204,808
96$18,000,181$0$0$7,889,754
97$19,753,698$0$0$8,661,296
98$21,683,476$0$0$9,510,488
99$23,807,410$0$0$10,445,219
100$26,145,220$0$0$11,474,180