Can I retire at age 56 with 567,000?

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 $567,000?

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$46,822$46,405$45,998$45,601$45,213$44,985
2 years$23,179$22,748$22,329$21,924$21,530$21,300
3 years$15,299$14,866$14,449$14,047$13,660$13,434
4 years$11,360$10,928$10,515$10,120$9,742$9,524
5 years$8,997$8,568$8,160$7,773$7,406$7,195
6 years$7,423$6,996$6,594$6,216$5,860$5,656
7 years$6,298$5,875$5,480$5,111$4,766$4,570
8 years$5,455$5,036$4,647$4,287$3,954$3,766
9 years$4,800$4,385$4,003$3,652$3,330$3,149
10 years$4,276$3,865$3,490$3,148$2,837$2,664
11 years$3,848$3,441$3,072$2,740$2,440$2,275
12 years$3,491$3,088$2,727$2,403$2,114$1,957
13 years$3,189$2,791$2,436$2,121$1,844$1,693
14 years$2,931$2,537$2,189$1,883$1,616$1,473
15 years$2,708$2,318$1,976$1,679$1,423$1,287
16 years$2,512$2,126$1,792$1,504$1,258$1,128
17 years$2,340$1,958$1,630$1,351$1,115$992
18 years$2,187$1,809$1,488$1,218$992$875
19 years$2,050$1,677$1,363$1,100$884$773
20 years$1,927$1,558$1,250$996$789$685
21 years$1,816$1,452$1,150$904$706$607
22 years$1,715$1,355$1,060$822$633$540
23 years$1,623$1,267$979$749$568$480
24 years$1,539$1,187$905$683$511$428
25 years$1,462$1,114$838$624$460$381
26 years$1,391$1,047$778$570$414$340
27 years$1,325$986$722$522$373$304
28 years$1,264$929$671$478$337$272
29 years$1,207$876$625$439$304$243
30 years$1,154$827$582$403$275$218
31 years$1,105$782$542$370$249$195
32 years$1,059$740$506$340$225$174
33 years$1,015$701$473$312$203$156
34 years$975$664$442$287$184$140
35 years$937$630$413$265$167$126
36 years$901$598$386$244$151$113
37 years$867$568$361$225$137$101
38 years$834$540$338$207$124$91
39 years$804$513$317$191$113$82
40 years$775$488$297$176$102$73
41 years$748$465$279$162$93$66
42 years$722$443$261$150$84$59
43 years$697$422$245$138$76$53
44 years$674$402$230$128$69$48
45 years$651$383$216$118$63$43
46 years$630$366$203$109$57$38
47 years$610$349$191$101$52$35
48 years$590$333$179$93$47$31
49 years$571$318$169$86$43$28
50 years$554$304$158$79$39$25

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $567,000, adding $3,264 every year, while hoping to spend $28,242 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: 41/47/12 Blend
55$567,000$567,000$567,000$567,000
56$628,201$598,150$589,361$651,600
57$662,228$597,410$579,056$667,633
58$698,779$595,687$567,458$681,925
59$738,083$592,904$554,496$696,770
60$780,388$588,977$540,092$712,232
61$825,969$583,818$524,167$728,379
62$875,128$577,336$506,637$745,294
63$928,196$569,430$487,414$763,066
64$985,537$559,997$466,407$781,796
65$1,047,551$548,925$443,521$801,599
66$1,114,677$536,098$418,654$822,603
67$1,187,398$521,392$391,704$844,953
68$1,266,246$504,673$362,559$868,810
69$1,351,806$485,805$331,107$894,355
70$1,444,719$464,638$297,228$921,793
71$1,545,692$441,017$260,798$951,348
72$1,655,504$414,778$221,685$983,277
73$1,775,009$385,746$179,756$1,017,861
74$1,905,149$353,737$134,866$1,055,420
75$2,046,960$318,555$86,870$1,096,305
76$2,201,581$279,996$35,611$1,140,912
77$2,370,267$237,840$0$1,189,679
78$2,554,399$191,859$0$1,245,542
79$2,755,497$141,810$0$1,311,626
80$2,975,234$87,435$0$1,383,996
81$3,215,453$28,464$0$1,463,351
82$3,478,181$0$0$1,550,466
83$3,765,653$0$0$1,664,503
84$4,080,326$0$0$1,805,517
85$4,424,910$0$0$1,960,008
86$4,802,385$0$0$2,129,322
87$5,216,036$0$0$2,314,942
88$5,669,480$0$0$2,518,502
89$6,166,698$0$0$2,741,798
90$6,712,080$0$0$2,986,812
91$7,310,457$0$0$3,255,727
92$7,967,150$0$0$3,550,945
93$8,688,024$0$0$3,875,114
94$9,479,536$0$0$4,231,150
95$10,348,801$0$0$4,622,266
96$11,303,654$0$0$5,052,002
97$12,352,730$0$0$5,524,256
98$13,505,539$0$0$6,043,324
99$14,772,558$0$0$6,613,938
100$16,165,331$0$0$7,241,312