Can I retire at age 56 with 596,000?

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 $596,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.7%
1 years$49,217$48,779$48,351$47,934$47,526$45,858
2 years$24,365$23,911$23,471$23,045$22,631$20,968
3 years$16,082$15,626$15,188$14,765$14,358$12,753
4 years$11,941$11,487$11,053$10,637$10,240$8,704
5 years$9,457$9,006$8,577$8,171$7,785$6,322
6 years$7,802$7,354$6,932$6,534$6,160$4,772
7 years$6,620$6,176$5,760$5,372$5,009$3,696
8 years$5,734$5,294$4,885$4,506$4,156$2,916
9 years$5,046$4,609$4,208$3,839$3,500$2,332
10 years$4,495$4,063$3,668$3,309$2,982$1,884
11 years$4,045$3,617$3,230$2,880$2,565$1,534
12 years$3,670$3,246$2,866$2,526$2,222$1,257
13 years$3,353$2,934$2,561$2,230$1,938$1,035
14 years$3,081$2,667$2,301$1,980$1,699$856
15 years$2,846$2,436$2,077$1,765$1,496$710
16 years$2,641$2,235$1,883$1,581$1,322$590
17 years$2,459$2,058$1,714$1,420$1,172$492
18 years$2,299$1,902$1,564$1,280$1,042$411
19 years$2,155$1,763$1,432$1,157$929$343
20 years$2,026$1,638$1,314$1,047$830$287
21 years$1,909$1,526$1,209$951$743$241
22 years$1,803$1,424$1,114$864$666$202
23 years$1,706$1,332$1,029$787$597$170
24 years$1,618$1,248$951$718$537$142
25 years$1,537$1,171$881$656$483$120
26 years$1,462$1,101$817$600$435$101
27 years$1,393$1,036$759$549$392$85
28 years$1,328$976$706$503$354$71
29 years$1,269$921$657$461$320$60
30 years$1,213$870$612$423$289$50
31 years$1,161$822$570$389$261$42
32 years$1,113$778$532$357$236$36
33 years$1,067$737$497$328$214$30
34 years$1,025$698$464$302$194$25
35 years$984$662$434$278$175$21
36 years$947$629$406$256$159$18
37 years$911$597$380$236$144$15
38 years$877$567$356$218$131$13
39 years$845$540$333$201$118$11
40 years$815$513$312$185$107$9
41 years$786$489$293$171$97$8
42 years$759$465$275$158$88$6
43 years$733$443$258$145$80$5
44 years$708$423$242$134$73$5
45 years$685$403$227$124$66$4
46 years$662$384$213$115$60$3
47 years$641$367$201$106$55$3
48 years$620$350$188$98$49$2
49 years$601$334$177$90$45$2
50 years$582$320$167$84$41$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $596,000, adding $6,730 every year, while hoping to spend $21,398 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: 39/31/30 Blend
55$596,000$596,000$596,000$596,000
56$663,734$632,146$622,908$683,508
57$708,668$640,354$621,008$706,832
58$757,467$648,247$618,327$729,587
59$810,505$655,787$614,817$753,793
60$868,189$662,933$610,426$779,597
61$930,970$669,642$605,101$807,160
62$999,342$675,868$598,786$836,665
63$1,073,851$681,562$591,421$868,310
64$1,155,097$686,671$582,946$902,318
65$1,243,738$691,139$573,296$938,933
66$1,340,501$694,907$562,404$978,428
67$1,446,186$697,912$550,199$1,021,104
68$1,561,674$700,086$536,606$1,067,294
69$1,687,932$701,357$521,550$1,117,368
70$1,826,028$701,651$504,949$1,171,735
71$1,977,136$700,885$486,718$1,230,847
72$2,142,551$698,975$466,770$1,295,204
73$2,323,695$695,829$445,011$1,365,362
74$2,522,139$691,351$421,346$1,441,932
75$2,739,608$685,439$395,672$1,525,592
76$2,978,006$677,984$367,885$1,617,093
77$3,239,428$668,870$337,875$1,717,262
78$3,526,182$657,977$305,525$1,827,017
79$3,840,809$645,174$270,717$1,947,371
80$4,186,108$630,325$233,323$2,079,444
81$4,565,165$613,284$193,213$2,224,473
82$4,981,376$593,899$150,250$2,383,825
83$5,438,484$572,007$104,290$2,559,013
84$5,940,609$547,436$55,184$2,751,706
85$6,492,295$520,004$2,777$2,963,748
86$7,098,544$489,519$0$3,197,176
87$7,764,867$455,777$0$3,471,254
88$8,497,337$418,564$0$3,773,507
89$9,302,643$377,651$0$4,105,848
90$10,188,155$332,799$0$4,471,364
91$11,161,994$283,753$0$4,873,462
92$12,233,106$230,245$0$5,315,900
93$13,411,348$171,992$0$5,802,821
94$14,707,580$108,694$0$6,338,795
95$16,133,768$40,035$0$6,928,861
96$17,703,097$0$0$7,578,577
97$19,430,093$0$0$8,305,778
98$21,330,764$0$0$9,121,235
99$23,422,745$0$0$10,018,868
100$25,725,470$0$0$11,007,028