Can I retire at age 56 with 582,000?

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 $582,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.6%
1 years$48,061$47,633$47,215$46,808$46,409$46,098
2 years$23,793$23,349$22,920$22,504$22,100$21,785
3 years$15,704$15,259$14,831$14,418$14,021$13,714
4 years$11,661$11,217$10,793$10,388$10,000$9,702
5 years$9,235$8,794$8,376$7,979$7,602$7,314
6 years$7,619$7,181$6,769$6,381$6,015$5,738
7 years$6,465$6,031$5,625$5,246$4,892$4,626
8 years$5,600$5,169$4,770$4,401$4,058$3,803
9 years$4,927$4,501$4,109$3,748$3,418$3,173
10 years$4,389$3,967$3,582$3,231$2,912$2,678
11 years$3,950$3,532$3,154$2,812$2,504$2,281
12 years$3,583$3,170$2,799$2,467$2,170$1,957
13 years$3,274$2,865$2,501$2,178$1,893$1,689
14 years$3,009$2,604$2,247$1,933$1,659$1,466
15 years$2,779$2,379$2,028$1,724$1,461$1,277
16 years$2,578$2,183$1,839$1,544$1,291$1,117
17 years$2,402$2,010$1,674$1,387$1,145$979
18 years$2,245$1,857$1,528$1,250$1,018$861
19 years$2,104$1,721$1,399$1,129$907$759
20 years$1,978$1,600$1,284$1,023$810$670
21 years$1,864$1,490$1,181$928$725$593
22 years$1,761$1,391$1,088$844$650$525
23 years$1,666$1,301$1,005$769$583$466
24 years$1,580$1,219$929$701$524$414
25 years$1,500$1,144$861$640$472$368
26 years$1,427$1,075$798$585$425$327
27 years$1,360$1,012$741$536$383$291
28 years$1,297$953$689$491$346$259
29 years$1,239$899$641$450$312$231
30 years$1,185$849$597$413$282$206
31 years$1,134$803$557$379$255$184
32 years$1,087$760$519$349$231$164
33 years$1,042$719$485$321$209$147
34 years$1,001$682$453$295$189$131
35 years$961$647$424$272$171$117
36 years$924$614$396$250$155$105
37 years$889$583$371$230$141$94
38 years$856$554$347$212$127$84
39 years$825$527$325$196$116$75
40 years$796$501$305$181$105$67
41 years$768$477$286$167$95$60
42 years$741$454$268$154$86$54
43 years$716$433$252$142$78$48
44 years$691$413$236$131$71$43
45 years$669$394$222$121$65$39
46 years$647$375$208$112$59$35
47 years$626$358$196$103$53$31
48 years$606$342$184$95$48$28
49 years$587$327$173$88$44$25
50 years$568$312$163$82$40$22

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $582,000, adding $4,959 every year, while hoping to spend $39,740 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: 76/13/11 Blend
55$582,000$582,000$582,000$582,000
56$646,479$615,633$606,612$693,908
57$670,137$603,516$584,651$713,724
58$694,876$589,474$560,621$729,913
59$720,765$573,369$534,413$746,540
60$747,877$555,058$505,910$763,633
61$776,292$534,388$474,991$781,226
62$806,098$511,197$441,527$799,355
63$837,389$485,315$405,387$818,060
64$870,268$456,560$366,433$837,387
65$904,845$424,742$324,518$857,386
66$941,242$389,657$279,492$878,116
67$979,591$351,092$231,197$899,639
68$1,020,035$308,822$179,468$922,025
69$1,062,731$262,606$124,133$945,355
70$1,107,850$212,194$65,011$969,716
71$1,155,577$157,318$1,916$995,207
72$1,206,117$97,697$0$1,021,937
73$1,259,690$33,034$0$1,057,707
74$1,316,541$0$0$1,095,715
75$1,376,933$0$0$1,141,203
76$1,441,158$0$0$1,194,614
77$1,509,533$0$0$1,251,490
78$1,582,406$0$0$1,312,119
79$1,660,157$0$0$1,376,822
80$1,743,203$0$0$1,445,947
81$1,832,002$0$0$1,519,876
82$1,927,055$0$0$1,599,029
83$2,028,911$0$0$1,683,866
84$2,138,173$0$0$1,774,890
85$2,255,503$0$0$1,872,656
86$2,381,626$0$0$1,977,772
87$2,517,340$0$0$2,090,903
88$2,663,519$0$0$2,212,782
89$2,821,126$0$0$2,344,215
90$2,991,214$0$0$2,486,083
91$3,174,946$0$0$2,639,360
92$3,373,595$0$0$2,805,111
93$3,588,562$0$0$2,984,510
94$3,821,388$0$0$3,178,845
95$4,073,766$0$0$3,389,535
96$4,347,559$0$0$3,618,139
97$4,644,814$0$0$3,866,370
98$4,967,783$0$0$4,136,116
99$5,318,946$0$0$4,429,450
100$5,701,027$0$0$4,748,654