Can I retire at age 56 with 534,000?

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 $534,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.2%
1 years$44,097$43,704$43,321$42,947$42,582$42,367
2 years$21,830$21,424$21,030$20,648$20,277$20,060
3 years$14,409$14,001$13,608$13,229$12,865$12,652
4 years$10,699$10,292$9,903$9,531$9,175$8,969
5 years$8,474$8,069$7,685$7,321$6,975$6,776
6 years$6,991$6,589$6,211$5,854$5,519$5,327
7 years$5,932$5,533$5,161$4,813$4,488$4,304
8 years$5,138$4,743$4,377$4,038$3,724$3,546
9 years$4,521$4,130$3,770$3,439$3,136$2,966
10 years$4,027$3,640$3,287$2,965$2,672$2,509
11 years$3,624$3,241$2,894$2,580$2,298$2,142
12 years$3,288$2,909$2,568$2,263$1,991$1,843
13 years$3,004$2,629$2,294$1,998$1,736$1,595
14 years$2,761$2,389$2,061$1,774$1,522$1,387
15 years$2,550$2,183$1,861$1,582$1,340$1,212
16 years$2,366$2,003$1,687$1,416$1,184$1,062
17 years$2,204$1,844$1,536$1,272$1,050$934
18 years$2,059$1,704$1,402$1,147$934$824
19 years$1,931$1,579$1,283$1,036$832$728
20 years$1,815$1,468$1,178$938$743$645
21 years$1,710$1,367$1,083$852$665$572
22 years$1,615$1,276$998$774$596$508
23 years$1,529$1,194$922$705$535$452
24 years$1,450$1,118$853$643$481$403
25 years$1,377$1,049$790$587$433$359
26 years$1,310$986$732$537$390$321
27 years$1,248$928$680$492$352$286
28 years$1,190$875$632$450$317$256
29 years$1,137$825$588$413$286$229
30 years$1,087$779$548$379$259$205
31 years$1,041$737$511$348$234$183
32 years$997$697$477$320$212$164
33 years$956$660$445$294$192$147
34 years$918$626$416$271$173$132
35 years$882$593$389$249$157$118
36 years$848$563$364$230$142$106
37 years$816$535$340$211$129$95
38 years$786$508$319$195$117$86
39 years$757$483$299$180$106$77
40 years$730$460$280$166$96$69
41 years$704$438$262$153$87$62
42 years$680$417$246$141$79$56
43 years$657$397$231$130$72$50
44 years$634$379$217$120$65$45
45 years$613$361$204$111$59$40
46 years$593$344$191$103$54$36
47 years$574$329$180$95$49$33
48 years$556$314$169$88$44$29
49 years$538$300$159$81$40$26
50 years$521$286$149$75$37$24

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $534,000, adding $3,070 every year, while hoping to spend $35,113 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: 68/15/17 Blend
55$534,000$534,000$534,000$534,000
56$591,635$563,333$555,056$629,247
57$614,621$553,576$536,290$644,980
58$638,776$542,164$515,719$657,768
59$664,181$528,980$493,245$670,882
60$690,924$513,897$468,766$684,351
61$719,104$496,783$442,175$698,210
62$748,826$477,499$413,361$712,495
63$780,205$455,896$382,208$727,250
64$813,367$431,816$348,593$742,523
65$848,450$405,094$312,390$758,367
66$885,603$375,555$273,467$774,846
67$924,990$343,013$231,683$792,027
68$966,790$307,271$186,895$809,989
69$1,011,198$268,122$138,951$828,820
70$1,058,428$225,348$87,694$848,617
71$1,108,714$178,717$32,958$869,490
72$1,162,312$127,984$0$891,563
73$1,219,504$72,891$0$919,592
74$1,280,597$13,166$0$955,794
75$1,345,927$0$0$994,392
76$1,415,864$0$0$1,044,111
77$1,490,813$0$0$1,099,744
78$1,571,218$0$0$1,159,448
79$1,657,568$0$0$1,223,589
80$1,750,397$0$0$1,292,568
81$1,850,293$0$0$1,366,824
82$1,957,901$0$0$1,446,841
83$2,073,930$0$0$1,533,148
84$2,199,158$0$0$1,626,328
85$2,334,441$0$0$1,727,022
86$2,480,717$0$0$1,835,932
87$2,639,021$0$0$1,953,834
88$2,810,489$0$0$2,081,577
89$2,996,367$0$0$2,220,096
90$3,198,031$0$0$2,370,418
91$3,416,989$0$0$2,533,676
92$3,654,903$0$0$2,711,113
93$3,913,600$0$0$2,904,096
94$4,195,089$0$0$3,114,132
95$4,501,583$0$0$3,342,877
96$4,835,515$0$0$3,592,154
97$5,199,564$0$0$3,863,969
98$5,596,676$0$0$4,160,529
99$6,030,097$0$0$4,484,265
100$6,503,397$0$0$4,837,852