Can I retire at age 56 with 609,000?

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 $609,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.3%
1 years$50,291$49,843$49,406$48,979$48,563$47,699
2 years$24,896$24,433$23,983$23,548$23,125$22,258
3 years$16,433$15,967$15,519$15,087$14,671$13,828
4 years$12,202$11,737$11,294$10,869$10,464$9,650
5 years$9,664$9,202$8,764$8,349$7,954$7,173
6 years$7,972$7,514$7,083$6,677$6,294$5,546
7 years$6,765$6,311$5,886$5,489$5,119$4,404
8 years$5,859$5,409$4,992$4,605$4,247$3,565
9 years$5,156$4,710$4,299$3,922$3,576$2,928
10 years$4,593$4,151$3,748$3,381$3,047$2,431
11 years$4,133$3,696$3,300$2,942$2,621$2,036
12 years$3,750$3,317$2,929$2,581$2,271$1,717
13 years$3,426$2,998$2,617$2,279$1,980$1,456
14 years$3,148$2,725$2,351$2,023$1,736$1,241
15 years$2,908$2,489$2,123$1,804$1,528$1,062
16 years$2,698$2,284$1,924$1,615$1,351$911
17 years$2,513$2,103$1,751$1,451$1,198$784
18 years$2,349$1,944$1,599$1,308$1,065$676
19 years$2,202$1,801$1,463$1,182$949$584
20 years$2,070$1,674$1,343$1,070$848$506
21 years$1,951$1,559$1,235$971$759$438
22 years$1,842$1,455$1,139$883$680$381
23 years$1,743$1,361$1,051$804$611$331
24 years$1,653$1,275$972$734$549$288
25 years$1,570$1,197$901$670$494$250
26 years$1,494$1,125$835$613$445$218
27 years$1,423$1,059$776$561$401$190
28 years$1,357$998$721$514$362$166
29 years$1,296$941$671$471$327$144
30 years$1,240$889$625$432$295$126
31 years$1,187$840$583$397$267$110
32 years$1,137$795$544$365$241$96
33 years$1,091$753$508$336$219$84
34 years$1,047$713$474$309$198$73
35 years$1,006$677$443$284$179$64
36 years$967$642$415$262$162$56
37 years$931$610$388$241$147$49
38 years$896$580$364$222$133$43
39 years$864$551$341$205$121$37
40 years$833$525$319$189$110$33
41 years$803$499$299$174$100$29
42 years$775$476$281$161$90$25
43 years$749$453$263$149$82$22
44 years$724$432$247$137$74$19
45 years$700$412$232$127$68$17
46 years$677$393$218$117$61$15
47 years$655$375$205$108$56$13
48 years$634$358$193$100$51$11
49 years$614$342$181$92$46$10
50 years$595$326$170$85$42$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $609,000, adding $4,316 every year, while hoping to spend $30,617 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: 24/48/28 Blend
55$609,000$609,000$609,000$609,000
56$675,570$643,293$633,853$685,755
57$711,902$642,238$622,511$693,675
58$750,913$640,105$609,763$699,289
59$792,846$636,810$595,529$704,661
60$837,963$632,261$579,727$709,793
61$886,557$626,362$562,269$714,688
62$938,945$619,014$543,064$719,353
63$995,478$610,106$522,018$723,798
64$1,056,542$599,527$499,031$728,040
65$1,122,560$587,154$473,998$732,099
66$1,193,996$572,859$446,812$736,004
67$1,271,362$556,508$417,359$739,787
68$1,355,220$537,956$385,520$743,491
69$1,446,188$517,052$351,170$747,167
70$1,544,946$493,634$314,182$750,877
71$1,652,242$467,534$274,418$754,694
72$1,768,898$438,570$231,738$758,704
73$1,895,819$406,553$185,995$763,007
74$2,034,000$371,282$137,033$767,722
75$2,184,538$332,544$84,693$772,984
76$2,348,636$290,114$28,806$778,951
77$2,527,623$243,756$0$785,804
78$2,722,959$193,218$0$802,962
79$2,936,250$138,236$0$831,231
80$3,169,268$78,529$0$862,325
81$3,423,958$13,802$0$896,609
82$3,702,468$0$0$934,492
83$4,007,156$0$0$1,006,147
84$4,340,625$0$0$1,092,653
85$4,705,737$0$0$1,187,474
86$5,105,645$0$0$1,291,443
87$5,543,822$0$0$1,405,476
88$6,024,090$0$0$1,530,584
89$6,550,662$0$0$1,667,878
90$7,128,175$0$0$1,818,582
91$7,761,740$0$0$1,984,047
92$8,456,983$0$0$2,165,758
93$9,220,102$0$0$2,365,353
94$10,057,925$0$0$2,584,636
95$10,977,973$0$0$2,825,592
96$11,988,532$0$0$3,090,412
97$13,098,728$0$0$3,381,507
98$14,318,616$0$0$3,701,533
99$15,659,273$0$0$4,053,418
100$17,132,901$0$0$4,440,387