Can I retire at age 56 with 546,000?

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 $546,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.7%
1 years$45,088$44,687$44,295$43,912$43,539$42,349
2 years$22,321$21,905$21,502$21,112$20,733$19,543
3 years$14,733$14,315$13,913$13,526$13,154$12,001
4 years$10,939$10,523$10,125$9,745$9,381$8,274
5 years$8,664$8,250$7,858$7,485$7,132$6,073
6 years$7,148$6,737$6,350$5,986$5,643$4,635
7 years$6,065$5,658$5,277$4,921$4,589$3,631
8 years$5,253$4,850$4,475$4,128$3,807$2,898
9 years$4,622$4,223$3,855$3,516$3,206$2,346
10 years$4,118$3,722$3,361$3,031$2,732$1,919
11 years$3,705$3,313$2,959$2,638$2,349$1,583
12 years$3,362$2,974$2,626$2,314$2,036$1,314
13 years$3,071$2,688$2,346$2,043$1,775$1,097
14 years$2,823$2,443$2,108$1,813$1,556$920
15 years$2,607$2,232$1,903$1,617$1,370$774
16 years$2,419$2,048$1,725$1,448$1,211$653
17 years$2,253$1,886$1,570$1,301$1,074$552
18 years$2,106$1,742$1,433$1,173$955$468
19 years$1,974$1,615$1,312$1,059$851$397
20 years$1,856$1,501$1,204$960$760$338
21 years$1,749$1,398$1,108$871$680$287
22 years$1,652$1,305$1,021$792$610$245
23 years$1,563$1,220$943$721$547$209
24 years$1,482$1,143$872$658$492$178
25 years$1,408$1,073$807$601$443$152
26 years$1,339$1,008$749$549$399$130
27 years$1,276$949$695$503$360$111
28 years$1,217$894$646$461$324$95
29 years$1,162$844$602$422$293$81
30 years$1,111$797$560$388$265$69
31 years$1,064$753$522$356$239$59
32 years$1,019$713$487$327$216$51
33 years$978$675$455$301$196$44
34 years$939$640$425$277$177$37
35 years$902$607$397$255$161$32
36 years$867$576$372$235$146$27
37 years$834$547$348$216$132$23
38 years$803$520$326$199$120$20
39 years$774$494$305$184$108$17
40 years$746$470$286$170$98$15
41 years$720$448$268$156$89$13
42 years$695$426$252$144$81$11
43 years$671$406$236$133$73$9
44 years$649$387$222$123$67$8
45 years$627$369$208$114$61$7
46 years$607$352$196$105$55$6
47 years$587$336$184$97$50$5
48 years$568$321$173$90$45$4
49 years$550$306$162$83$41$4
50 years$533$293$153$77$37$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $546,000, adding $6,477 every year, while hoping to spend $31,453 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: 70/15/15 Blend
55$546,000$546,000$546,000$546,000
56$608,373$579,435$570,972$648,428
57$636,961$574,362$556,634$670,824
58$667,411$567,985$540,761$690,937
59$699,880$560,209$523,269$712,139
60$734,539$550,931$504,070$734,533
61$771,576$540,040$483,070$758,231
62$811,198$527,423$460,174$783,360
63$853,629$512,957$435,280$810,060
64$899,120$496,511$408,281$838,484
65$947,940$477,951$379,069$868,805
66$1,000,389$457,129$347,527$901,211
67$1,056,794$433,894$313,535$935,913
68$1,117,515$408,083$276,966$973,143
69$1,182,947$379,524$237,690$1,013,159
70$1,253,523$348,037$195,568$1,056,245
71$1,329,721$313,429$150,458$1,102,717
72$1,412,063$275,498$102,209$1,152,924
73$1,501,126$234,029$50,665$1,207,252
74$1,597,542$188,798$0$1,266,129
75$1,702,006$139,563$0$1,330,720
76$1,815,282$86,074$0$1,409,554
77$1,938,213$28,064$0$1,495,120
78$2,071,723$0$0$1,588,086
79$2,216,829$0$0$1,694,926
80$2,374,650$0$0$1,816,192
81$2,546,417$0$0$1,948,202
82$2,733,486$0$0$2,091,999
83$2,937,346$0$0$2,248,734
84$3,159,639$0$0$2,419,671
85$3,402,171$0$0$2,606,204
86$3,666,929$0$0$2,809,863
87$3,956,100$0$0$3,032,338
88$4,272,095$0$0$3,275,485
89$4,617,563$0$0$3,541,349
90$4,995,426$0$0$3,832,182
91$5,408,897$0$0$4,150,463
92$5,861,515$0$0$4,498,921
93$6,357,180$0$0$4,880,564
94$6,900,183$0$0$5,298,700
95$7,495,251$0$0$5,756,976
96$8,147,591$0$0$6,259,408
97$8,862,935$0$0$6,810,417
98$9,647,600$0$0$7,414,874
99$10,508,541$0$0$8,078,145
100$11,453,420$0$0$8,806,138