Can I retire at age 56 with 561,000?

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 $561,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.1%
1 years$46,327$45,914$45,512$45,119$44,735$43,796
2 years$22,934$22,507$22,093$21,692$21,302$20,361
3 years$15,138$14,709$14,296$13,898$13,515$12,600
4 years$11,240$10,812$10,404$10,013$9,639$8,758
5 years$8,902$8,477$8,074$7,691$7,327$6,483
6 years$7,344$6,922$6,525$6,150$5,798$4,990
7 years$6,232$5,813$5,422$5,057$4,715$3,945
8 years$5,398$4,983$4,598$4,242$3,912$3,179
9 years$4,749$4,339$3,961$3,613$3,294$2,598
10 years$4,231$3,824$3,453$3,115$2,807$2,147
11 years$3,807$3,404$3,040$2,711$2,414$1,789
12 years$3,454$3,056$2,698$2,378$2,092$1,501
13 years$3,156$2,761$2,410$2,099$1,824$1,266
14 years$2,900$2,510$2,166$1,863$1,599$1,073
15 years$2,679$2,293$1,955$1,662$1,408$913
16 years$2,485$2,104$1,773$1,488$1,244$779
17 years$2,315$1,938$1,613$1,337$1,103$667
18 years$2,164$1,790$1,473$1,205$981$572
19 years$2,028$1,659$1,348$1,089$874$491
20 years$1,907$1,542$1,237$986$781$422
21 years$1,797$1,436$1,138$895$699$364
22 years$1,697$1,341$1,049$814$627$314
23 years$1,606$1,254$968$741$562$271
24 years$1,523$1,175$896$676$505$234
25 years$1,446$1,102$830$617$455$203
26 years$1,376$1,036$769$564$410$175
27 years$1,311$975$714$517$369$152
28 years$1,250$919$664$473$333$131
29 years$1,194$867$618$434$301$114
30 years$1,142$819$576$398$272$99
31 years$1,093$774$537$366$246$86
32 years$1,047$732$501$336$222$74
33 years$1,005$693$468$309$201$64
34 years$964$657$437$284$182$56
35 years$927$623$408$262$165$49
36 years$891$592$382$241$150$42
37 years$857$562$358$222$136$37
38 years$826$534$335$205$123$32
39 years$795$508$314$189$111$28
40 years$767$483$294$174$101$24
41 years$740$460$276$161$92$21
42 years$714$438$259$148$83$18
43 years$690$417$243$137$76$16
44 years$667$398$228$126$69$14
45 years$644$379$214$117$62$12
46 years$623$362$201$108$56$10
47 years$603$345$189$100$51$9
48 years$584$330$177$92$47$8
49 years$565$315$167$85$42$7
50 years$548$301$157$79$38$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $561,000, adding $3,980 every year, while hoping to spend $23,894 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: 39/33/28 Blend
55$561,000$561,000$561,000$561,000
56$622,327$592,594$583,899$641,303
57$660,382$596,208$578,036$659,141
58$701,517$599,199$571,177$675,923
59$746,022$601,510$563,261$693,614
60$794,214$603,082$554,229$712,312
61$846,443$603,852$544,014$732,127
62$903,092$603,753$532,551$753,181
63$964,585$602,714$519,769$775,612
64$1,031,386$600,660$505,594$799,572
65$1,104,005$597,510$489,949$825,229
66$1,183,005$593,179$472,754$852,774
67$1,269,004$587,578$453,924$882,416
68$1,362,683$580,610$433,371$914,389
69$1,464,791$572,174$411,003$948,953
70$1,576,152$562,163$386,724$986,399
71$1,697,673$550,463$360,434$1,027,046
72$1,830,354$536,953$332,026$1,071,253
73$1,975,292$521,507$301,391$1,119,416
74$2,133,699$503,987$268,415$1,171,974
75$2,306,907$484,253$232,977$1,229,418
76$2,496,382$462,152$194,952$1,292,288
77$2,703,740$437,525$154,210$1,361,185
78$2,930,759$410,202$110,615$1,436,777
79$3,179,399$380,003$64,022$1,519,801
80$3,451,815$346,741$14,285$1,611,076
81$3,750,384$310,215$0$1,711,509
82$4,077,720$270,213$0$1,833,694
83$4,436,707$226,512$0$1,972,462
84$4,830,516$178,876$0$2,124,821
85$5,262,643$127,056$0$2,292,188
86$5,736,939$70,788$0$2,476,125
87$6,257,645$9,795$0$2,678,359
88$6,829,432$0$0$2,900,795
89$7,457,447$0$0$3,165,952
90$8,147,359$0$0$3,461,230
91$8,905,414$0$0$3,785,756
92$9,738,491$0$0$4,142,485
93$10,654,171$0$0$4,534,674
94$11,660,804$0$0$4,965,910
95$12,767,592$0$0$5,440,147
96$13,984,669$0$0$5,961,738
97$15,323,203$0$0$6,535,483
98$16,795,500$0$0$7,166,668
99$18,415,114$0$0$7,861,117
100$20,196,983$0$0$8,625,249