Can I retire at age 56 with 560,000?

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 $560,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.2%
1 years$46,244$45,832$45,430$45,038$44,655$44,244
2 years$22,893$22,467$22,054$21,653$21,264$20,850
3 years$15,111$14,682$14,270$13,873$13,491$13,087
4 years$11,220$10,793$10,385$9,995$9,622$9,230
5 years$8,886$8,462$8,059$7,677$7,314$6,937
6 years$7,331$6,910$6,513$6,139$5,788$5,425
7 years$6,220$5,803$5,412$5,048$4,707$4,358
8 years$5,388$4,974$4,590$4,234$3,905$3,571
9 years$4,741$4,331$3,953$3,607$3,288$2,969
10 years$4,223$3,817$3,447$3,109$2,802$2,497
11 years$3,800$3,398$3,034$2,706$2,410$2,119
12 years$3,448$3,050$2,693$2,373$2,088$1,811
13 years$3,150$2,757$2,406$2,095$1,821$1,557
14 years$2,895$2,506$2,162$1,860$1,596$1,346
15 years$2,674$2,289$1,952$1,659$1,405$1,168
16 years$2,481$2,100$1,770$1,485$1,242$1,017
17 years$2,311$1,934$1,610$1,334$1,101$888
18 years$2,160$1,787$1,470$1,203$979$778
19 years$2,025$1,656$1,346$1,087$873$682
20 years$1,903$1,539$1,235$984$780$600
21 years$1,794$1,434$1,136$893$698$528
22 years$1,694$1,338$1,047$812$625$466
23 years$1,603$1,252$967$740$561$411
24 years$1,520$1,173$894$675$505$364
25 years$1,444$1,101$828$616$454$322
26 years$1,373$1,034$768$563$409$285
27 years$1,308$973$713$516$369$253
28 years$1,248$917$663$472$333$224
29 years$1,192$865$617$433$300$199
30 years$1,140$817$575$398$271$176
31 years$1,091$773$536$365$245$157
32 years$1,046$731$500$336$222$139
33 years$1,003$692$467$309$201$124
34 years$963$656$436$284$182$110
35 years$925$622$408$261$165$98
36 years$889$591$381$241$149$87
37 years$856$561$357$222$135$77
38 years$824$533$334$204$123$69
39 years$794$507$313$188$111$61
40 years$766$482$294$174$101$55
41 years$739$459$275$160$92$49
42 years$713$437$258$148$83$43
43 years$689$417$242$137$75$39
44 years$665$397$227$126$68$34
45 years$643$379$214$117$62$31
46 years$622$361$201$108$56$27
47 years$602$345$188$99$51$24
48 years$583$329$177$92$47$22
49 years$564$314$166$85$42$19
50 years$547$300$156$78$38$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $560,000, adding $5,174 every year, while hoping to spend $34,951 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: 35/50/15 Blend
55$560,000$560,000$560,000$560,000
56$622,457$592,777$584,097$641,195
57$648,760$584,635$566,477$647,112
58$676,575$574,924$547,095$649,818
59$706,018$563,528$525,855$651,983
60$737,218$550,327$502,657$653,578
61$770,315$535,193$477,397$654,574
62$805,462$517,992$449,964$654,942
63$842,825$498,581$420,245$654,653
64$882,589$476,807$388,119$653,682
65$924,953$452,511$353,461$652,000
66$970,138$425,523$316,141$649,585
67$1,018,382$395,664$276,022$646,413
68$1,069,950$362,744$232,962$642,466
69$1,125,130$326,564$186,811$637,725
70$1,184,239$286,911$137,415$632,179
71$1,247,624$243,563$84,611$625,819
72$1,315,666$196,282$28,230$618,641
73$1,388,784$144,818$0$610,649
74$1,467,434$88,910$0$606,965
75$1,552,123$28,276$0$607,649
76$1,643,403$0$0$608,237
77$1,741,881$0$0$629,366
78$1,848,227$0$0$669,045
79$1,963,172$0$0$711,999
80$2,087,525$0$0$758,538
81$2,222,171$0$0$809,003
82$2,368,085$0$0$863,767
83$2,526,338$0$0$923,243
84$2,698,110$0$0$987,884
85$2,884,697$0$0$1,058,188
86$3,087,523$0$0$1,134,703
87$3,308,158$0$0$1,218,033
88$3,548,328$0$0$1,308,842
89$3,809,932$0$0$1,407,860
90$4,095,058$0$0$1,515,892
91$4,406,008$0$0$1,633,823
92$4,745,313$0$0$1,762,627
93$5,115,758$0$0$1,903,377
94$5,520,410$0$0$2,057,254
95$5,962,647$0$0$2,225,558
96$6,446,185$0$0$2,409,720
97$6,975,118$0$0$2,611,317
98$7,553,951$0$0$2,832,085
99$8,187,648$0$0$3,073,936
100$8,881,673$0$0$3,338,974