Can I retire at age 56 with 558,000?

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 $558,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.9%
1 years$46,079$45,669$45,268$44,877$44,496$43,777
2 years$22,811$22,387$21,975$21,576$21,188$20,466
3 years$15,057$14,630$14,219$13,824$13,443$12,739
4 years$11,180$10,755$10,348$9,959$9,588$8,909
5 years$8,854$8,432$8,030$7,650$7,288$6,636
6 years$7,305$6,885$6,490$6,117$5,767$5,142
7 years$6,198$5,782$5,393$5,030$4,690$4,092
8 years$5,369$4,956$4,574$4,219$3,891$3,320
9 years$4,724$4,315$3,939$3,594$3,277$2,733
10 years$4,208$3,804$3,434$3,098$2,792$2,275
11 years$3,787$3,386$3,024$2,696$2,401$1,910
12 years$3,436$3,039$2,683$2,365$2,081$1,615
13 years$3,139$2,747$2,397$2,088$1,814$1,374
14 years$2,885$2,497$2,154$1,853$1,591$1,174
15 years$2,665$2,281$1,945$1,653$1,400$1,007
16 years$2,472$2,093$1,763$1,480$1,238$866
17 years$2,303$1,927$1,605$1,330$1,097$748
18 years$2,152$1,781$1,465$1,198$976$647
19 years$2,017$1,650$1,341$1,083$870$560
20 years$1,896$1,534$1,231$981$777$487
21 years$1,787$1,429$1,132$890$695$423
22 years$1,688$1,333$1,043$809$623$368
23 years$1,597$1,247$963$737$559$321
24 years$1,515$1,169$891$672$503$280
25 years$1,439$1,097$825$614$452$244
26 years$1,369$1,031$765$561$408$214
27 years$1,304$970$711$514$367$187
28 years$1,244$914$661$471$332$163
29 years$1,188$862$615$432$299$143
30 years$1,136$814$573$396$271$125
31 years$1,087$770$534$364$245$110
32 years$1,042$728$498$334$221$96
33 years$999$690$465$307$200$84
34 years$959$654$435$283$181$74
35 years$922$620$406$260$164$65
36 years$886$589$380$240$149$57
37 years$853$559$356$221$135$50
38 years$821$531$333$204$122$44
39 years$791$505$312$188$111$38
40 years$763$481$293$173$101$34
41 years$736$457$274$160$91$29
42 years$710$436$257$148$83$26
43 years$686$415$241$136$75$23
44 years$663$396$227$126$68$20
45 years$641$377$213$116$62$17
46 years$620$360$200$107$56$15
47 years$600$344$188$99$51$13
48 years$581$328$176$92$46$12
49 years$562$313$166$85$42$10
50 years$545$299$156$78$38$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $558,000, adding $6,836 every year, while hoping to spend $29,791 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: 83/6/11 Blend
55$558,000$558,000$558,000$558,000
56$621,967$592,393$583,744$671,893
57$653,711$589,723$571,602$702,916
58$687,693$585,924$558,055$732,311
59$724,112$580,908$543,024$763,691
60$763,183$574,585$526,427$797,240
61$805,144$566,855$508,179$833,159
62$850,255$557,617$488,188$871,669
63$898,800$546,760$466,363$913,013
64$951,095$534,168$442,603$957,461
65$1,007,483$519,719$416,806$1,005,309
66$1,068,343$503,282$388,866$1,056,881
67$1,134,091$484,720$358,670$1,112,537
68$1,205,184$463,886$326,101$1,172,673
69$1,282,124$440,628$291,036$1,237,725
70$1,365,463$414,781$253,348$1,308,173
71$1,455,808$386,173$212,904$1,384,546
72$1,553,827$354,622$169,563$1,467,427
73$1,660,254$319,935$123,180$1,557,461
74$1,775,897$281,909$73,603$1,655,355
75$1,901,643$240,328$20,674$1,761,890
76$2,038,471$194,964$0$1,877,928
77$2,187,455$145,577$0$2,008,620
78$2,349,779$91,914$0$2,153,672
79$2,526,745$33,707$0$2,311,830
80$2,719,786$0$0$2,484,385
81$2,930,480$0$0$2,674,699
82$3,160,563$0$0$2,884,967
83$3,411,946$0$0$3,114,712
84$3,686,734$0$0$3,365,858
85$3,987,243$0$0$3,640,526
86$4,316,025$0$0$3,941,046
87$4,675,889$0$0$4,269,989
88$5,069,926$0$0$4,630,184
89$5,501,545$0$0$5,024,745
90$5,974,494$0$0$5,457,103
91$6,492,906$0$0$5,931,036
92$7,061,330$0$0$6,450,706
93$7,684,776$0$0$7,020,696
94$8,368,765$0$0$7,646,052
95$9,119,375$0$0$8,332,337
96$9,943,302$0$0$9,085,674
97$10,847,924$0$0$9,912,809
98$11,841,364$0$0$10,821,174
99$12,932,574$0$0$11,818,957
100$14,131,415$0$0$12,915,175