Can I retire at age 56 with 571,000?

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 $571,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.2%
1 years$47,153$46,733$46,323$45,923$45,532$44,022
2 years$23,343$22,908$22,487$22,078$21,682$20,175
3 years$15,407$14,971$14,550$14,146$13,756$12,300
4 years$11,440$11,005$10,589$10,191$9,811$8,416
5 years$9,061$8,628$8,218$7,828$7,458$6,129
6 years$7,475$7,046$6,641$6,260$5,901$4,639
7 years$6,343$5,917$5,519$5,147$4,799$3,603
8 years$5,494$5,072$4,680$4,317$3,982$2,851
9 years$4,834$4,416$4,031$3,677$3,353$2,287
10 years$4,306$3,892$3,514$3,170$2,857$1,853
11 years$3,875$3,465$3,094$2,759$2,457$1,514
12 years$3,516$3,110$2,746$2,420$2,129$1,245
13 years$3,212$2,811$2,453$2,136$1,857$1,028
14 years$2,952$2,555$2,204$1,896$1,628$853
15 years$2,727$2,334$1,990$1,691$1,433$710
16 years$2,530$2,141$1,804$1,514$1,267$593
17 years$2,356$1,972$1,642$1,361$1,123$496
18 years$2,202$1,822$1,499$1,226$999$416
19 years$2,064$1,689$1,372$1,108$890$349
20 years$1,941$1,569$1,259$1,004$795$293
21 years$1,829$1,462$1,158$911$711$247
22 years$1,727$1,365$1,068$828$638$208
23 years$1,635$1,276$986$754$572$175
24 years$1,550$1,196$912$688$515$148
25 years$1,472$1,122$844$628$463$124
26 years$1,400$1,055$783$574$417$105
27 years$1,334$993$727$526$376$89
28 years$1,273$935$676$482$339$75
29 years$1,216$882$629$442$306$63
30 years$1,162$833$586$405$277$53
31 years$1,113$788$546$372$250$45
32 years$1,066$745$510$342$226$38
33 years$1,023$706$476$315$205$32
34 years$982$669$445$290$185$27
35 years$943$635$416$267$168$23
36 years$907$602$389$245$152$20
37 years$873$572$364$226$138$17
38 years$840$544$341$208$125$14
39 years$810$517$319$192$113$12
40 years$781$492$299$177$103$10
41 years$753$468$281$164$93$8
42 years$727$446$263$151$85$7
43 years$702$425$247$139$77$6
44 years$678$405$232$129$70$5
45 years$656$386$218$119$63$4
46 years$634$368$205$110$58$4
47 years$614$352$192$101$52$3
48 years$594$336$181$94$47$3
49 years$575$320$170$87$43$2
50 years$557$306$160$80$39$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $571,000, adding $6,411 every year, while hoping to spend $36,429 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: 53/41/6 Blend
55$571,000$571,000$571,000$571,000
56$635,855$605,592$596,741$668,337
57$661,952$596,506$577,972$681,963
58$689,490$585,753$557,353$692,237
59$718,577$573,215$534,784$702,529
60$749,333$558,763$510,160$712,848
61$781,885$542,263$483,370$723,205
62$816,376$523,572$454,301$733,614
63$852,958$502,539$422,833$744,091
64$891,802$479,005$388,840$754,661
65$933,090$452,801$352,191$765,349
66$977,026$423,749$312,749$776,188
67$1,023,828$391,658$270,372$787,217
68$1,073,740$356,331$224,911$798,482
69$1,127,025$317,555$176,209$810,037
70$1,183,974$275,107$124,104$821,946
71$1,244,904$228,752$68,427$834,283
72$1,310,165$178,241$8,999$847,133
73$1,380,138$123,311$0$860,596
74$1,455,242$63,684$0$878,268
75$1,535,939$0$0$897,638
76$1,622,733$0$0$918,711
77$1,716,179$0$0$972,374
78$1,816,887$0$0$1,030,249
79$1,925,524$0$0$1,092,726
80$2,042,828$0$0$1,160,233
81$2,169,604$0$0$1,233,242
82$2,306,742$0$0$1,312,269
83$2,455,216$0$0$1,397,884
84$2,616,100$0$0$1,490,713
85$2,790,574$0$0$1,591,443
86$2,979,934$0$0$1,700,830
87$3,185,608$0$0$1,819,708
88$3,409,165$0$0$1,948,991
89$3,652,331$0$0$2,089,686
90$3,917,006$0$0$2,242,902
91$4,205,281$0$0$2,409,859
92$4,519,455$0$0$2,591,897
93$4,862,059$0$0$2,790,495
94$5,235,880$0$0$3,007,278
95$5,643,985$0$0$3,244,036
96$6,089,748$0$0$3,502,738
97$6,576,887$0$0$3,785,554
98$7,109,492$0$0$4,094,872
99$7,692,069$0$0$4,433,320
100$8,329,577$0$0$4,803,795