Can I retire at age 56 with 591,000?

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 $591,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.5%
1 years$48,804$48,370$47,945$47,531$47,127$46,830
2 years$24,161$23,711$23,274$22,852$22,442$22,142
3 years$15,947$15,495$15,060$14,641$14,238$13,945
4 years$11,841$11,391$10,960$10,548$10,155$9,871
5 years$9,378$8,930$8,505$8,102$7,719$7,445
6 years$7,737$7,292$6,874$6,479$6,108$5,844
7 years$6,565$6,124$5,712$5,327$4,967$4,714
8 years$5,686$5,249$4,844$4,469$4,121$3,877
9 years$5,003$4,571$4,172$3,806$3,470$3,237
10 years$4,457$4,029$3,638$3,281$2,957$2,734
11 years$4,011$3,587$3,202$2,856$2,543$2,330
12 years$3,639$3,219$2,842$2,505$2,204$2,000
13 years$3,324$2,909$2,539$2,211$1,922$1,728
14 years$3,055$2,644$2,281$1,963$1,685$1,500
15 years$2,822$2,416$2,060$1,751$1,483$1,308
16 years$2,618$2,216$1,868$1,567$1,311$1,144
17 years$2,439$2,041$1,699$1,408$1,162$1,004
18 years$2,279$1,886$1,551$1,269$1,034$884
19 years$2,137$1,748$1,420$1,147$921$779
20 years$2,009$1,624$1,303$1,039$823$689
21 years$1,893$1,513$1,199$943$736$610
22 years$1,788$1,412$1,105$857$660$540
23 years$1,692$1,321$1,020$781$592$480
24 years$1,604$1,238$944$712$533$426
25 years$1,524$1,161$874$650$479$379
26 years$1,449$1,092$810$594$432$338
27 years$1,381$1,027$753$544$389$301
28 years$1,317$968$700$499$351$268
29 years$1,258$913$651$457$317$239
30 years$1,203$862$606$420$286$214
31 years$1,152$815$565$385$259$191
32 years$1,103$771$528$354$234$171
33 years$1,058$731$493$326$212$153
34 years$1,016$692$460$300$192$136
35 years$976$657$430$276$174$122
36 years$939$623$402$254$158$109
37 years$903$592$377$234$143$98
38 years$870$563$353$216$129$87
39 years$838$535$331$199$117$78
40 years$808$509$310$183$106$70
41 years$779$485$290$169$97$63
42 years$752$461$272$156$88$56
43 years$727$440$256$144$80$50
44 years$702$419$240$133$72$45
45 years$679$400$225$123$66$40
46 years$657$381$212$114$60$36
47 years$635$364$199$105$54$33
48 years$615$347$187$97$49$29
49 years$596$332$176$90$45$26
50 years$577$317$165$83$40$23

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $591,000, adding $4,207 every year, while hoping to spend $36,007 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: 33/46/21 Blend
55$591,000$591,000$591,000$591,000
56$655,622$624,299$615,138$672,904
57$684,184$616,578$597,434$678,420
58$714,453$607,272$577,930$680,781
59$746,564$596,266$556,528$682,581
60$780,667$583,436$533,125$683,794
61$816,923$568,653$507,613$684,393
62$855,512$551,780$479,881$684,351
63$896,627$532,670$449,810$683,645
64$940,483$511,171$417,278$682,250
65$987,313$487,118$382,157$680,147
66$1,037,372$460,341$344,313$677,314
67$1,090,942$430,656$303,606$673,737
68$1,148,331$397,870$259,889$669,403
69$1,209,876$361,781$213,011$664,303
70$1,275,948$322,173$162,811$658,434
71$1,346,953$278,817$109,123$651,797
72$1,423,337$231,475$51,774$644,401
73$1,505,591$179,891$0$636,263
74$1,594,253$123,797$0$629,520
75$1,689,913$62,909$0$634,613
76$1,793,222$0$0$640,020
77$1,904,893$0$0$647,402
78$2,025,710$0$0$689,910
79$2,156,536$0$0$736,014
80$2,298,319$0$0$786,055
81$2,452,101$0$0$840,412
82$2,619,028$0$0$899,500
83$2,800,361$0$0$963,777
84$2,997,488$0$0$1,033,744
85$3,211,933$0$0$1,109,955
86$3,445,376$0$0$1,193,018
87$3,699,663$0$0$1,283,605
88$3,976,828$0$0$1,382,451
89$4,279,107$0$0$1,490,370
90$4,608,963$0$0$1,608,253
91$4,969,106$0$0$1,737,086
92$5,362,519$0$0$1,877,950
93$5,792,487$0$0$2,032,039
94$6,262,627$0$0$2,200,664
95$6,776,918$0$0$2,385,272
96$7,339,746$0$0$2,587,455
97$7,955,937$0$0$2,808,965
98$8,630,807$0$0$3,051,733
99$9,370,210$0$0$3,317,885
100$10,180,592$0$0$3,609,764