Can I retire at age 56 with 576,000?

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 $576,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.8%
1 years$47,566$47,142$46,728$46,325$45,931$44,301
2 years$23,547$23,109$22,684$22,272$21,872$20,247
3 years$15,542$15,102$14,678$14,270$13,876$12,308
4 years$11,541$11,101$10,682$10,280$9,897$8,397
5 years$9,140$8,704$8,289$7,896$7,523$6,095
6 years$7,540$7,107$6,699$6,315$5,953$4,598
7 years$6,398$5,969$5,567$5,192$4,841$3,560
8 years$5,542$5,116$4,721$4,355$4,016$2,806
9 years$4,876$4,455$4,066$3,710$3,382$2,243
10 years$4,344$3,926$3,545$3,198$2,882$1,811
11 years$3,909$3,496$3,121$2,783$2,479$1,473
12 years$3,546$3,137$2,770$2,441$2,148$1,207
13 years$3,240$2,835$2,475$2,155$1,873$993
14 years$2,978$2,577$2,224$1,913$1,642$820
15 years$2,750$2,354$2,008$1,706$1,446$680
16 years$2,552$2,160$1,820$1,528$1,278$565
17 years$2,377$1,989$1,656$1,373$1,133$471
18 years$2,221$1,838$1,512$1,237$1,007$393
19 years$2,083$1,704$1,384$1,118$898$328
20 years$1,958$1,583$1,270$1,012$802$274
21 years$1,845$1,475$1,168$919$718$230
22 years$1,742$1,376$1,077$835$643$193
23 years$1,649$1,287$994$761$577$161
24 years$1,564$1,206$920$694$519$136
25 years$1,485$1,132$852$634$467$114
26 years$1,413$1,064$790$579$421$96
27 years$1,346$1,001$734$530$379$80
28 years$1,284$943$682$486$342$67
29 years$1,226$890$635$446$309$57
30 years$1,172$841$591$409$279$48
31 years$1,122$795$551$376$252$40
32 years$1,075$752$514$345$228$34
33 years$1,032$712$480$317$207$28
34 years$990$675$449$292$187$24
35 years$951$640$419$269$169$20
36 years$915$608$392$248$154$17
37 years$880$577$367$228$139$14
38 years$848$548$344$210$126$12
39 years$817$521$322$194$114$10
40 years$787$496$302$179$104$8
41 years$760$472$283$165$94$7
42 years$733$450$266$152$85$6
43 years$708$429$249$141$78$5
44 years$684$408$234$130$70$4
45 years$662$390$220$120$64$4
46 years$640$372$206$111$58$3
47 years$619$355$194$102$53$3
48 years$599$339$182$95$48$2
49 years$580$323$171$87$43$2
50 years$562$309$161$81$39$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $576,000, adding $3,973 every year, while hoping to spend $24,696 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: 40/39/21 Blend
55$576,000$576,000$576,000$576,000
56$638,850$608,322$599,394$660,291
57$677,737$611,854$593,198$679,565
58$719,762$614,730$585,966$697,753
59$765,219$616,894$577,638$716,926
60$814,433$618,284$568,150$737,187
61$867,759$618,833$557,436$758,653
62$925,586$618,471$545,426$781,452
63$988,345$617,126$532,047$805,727
64$1,056,509$614,718$517,224$831,638
65$1,130,597$611,163$500,875$859,362
66$1,211,181$606,373$482,917$889,098
67$1,298,891$600,255$463,264$921,065
68$1,394,418$592,708$441,824$955,508
69$1,498,525$583,627$418,501$992,699
70$1,612,050$572,900$393,196$1,032,941
71$1,735,916$560,408$365,805$1,076,568
72$1,871,138$546,027$336,218$1,123,955
73$2,018,835$529,623$304,323$1,175,515
74$2,180,237$511,056$269,999$1,231,706
75$2,356,701$490,177$233,123$1,293,040
76$2,549,717$466,828$193,565$1,360,081
77$2,760,928$440,843$151,190$1,433,455
78$2,992,144$412,046$105,856$1,513,858
79$3,245,357$380,250$57,416$1,602,059
80$3,522,759$345,258$5,715$1,698,911
81$3,826,768$306,863$0$1,805,360
82$4,160,043$264,844$0$1,933,534
83$4,525,515$218,969$0$2,075,596
84$4,926,411$168,992$0$2,231,587
85$5,366,286$114,654$0$2,402,966
86$5,849,056$55,681$0$2,591,349
87$6,379,034$0$0$2,798,517
88$6,960,971$0$0$3,029,965
89$7,600,101$0$0$3,310,483
90$8,302,189$0$0$3,618,715
91$9,073,586$0$0$3,957,459
92$9,921,290$0$0$4,329,798
93$10,853,010$0$0$4,739,130
94$11,877,237$0$0$5,189,195
95$13,003,327$0$0$5,684,118
96$14,241,589$0$0$6,228,439
97$15,603,379$0$0$6,827,165
98$17,101,210$0$0$7,485,808
99$18,748,867$0$0$8,210,445
100$20,561,541$0$0$9,007,769