Can I retire at age 56 with 301,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $301,000?

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$24,856$24,635$24,419$24,208$24,002$23,851
2 years$12,305$12,076$11,854$11,638$11,430$11,277
3 years$8,122$7,892$7,670$7,457$7,251$7,102
4 years$6,031$5,801$5,582$5,372$5,172$5,027
5 years$4,776$4,548$4,332$4,126$3,931$3,792
6 years$3,940$3,714$3,501$3,300$3,111$2,976
7 years$3,343$3,119$2,909$2,713$2,530$2,401
8 years$2,896$2,674$2,467$2,276$2,099$1,975
9 years$2,548$2,328$2,125$1,939$1,768$1,649
10 years$2,270$2,052$1,853$1,671$1,506$1,392
11 years$2,043$1,827$1,631$1,454$1,295$1,187
12 years$1,853$1,640$1,447$1,276$1,122$1,019
13 years$1,693$1,482$1,293$1,126$979$880
14 years$1,556$1,347$1,162$1,000$858$764
15 years$1,437$1,230$1,049$892$755$666
16 years$1,334$1,129$951$798$668$583
17 years$1,242$1,040$866$717$592$511
18 years$1,161$961$790$646$526$450
19 years$1,088$890$723$584$469$397
20 years$1,023$827$664$529$419$351
21 years$964$771$611$480$375$310
22 years$911$719$563$437$336$275
23 years$862$673$520$398$302$244
24 years$817$630$481$363$271$217
25 years$776$592$445$331$244$193
26 years$738$556$413$303$220$172
27 years$703$523$383$277$198$153
28 years$671$493$356$254$179$137
29 years$641$465$332$233$161$122
30 years$613$439$309$214$146$109
31 years$587$415$288$196$132$97
32 years$562$393$269$180$119$87
33 years$539$372$251$166$108$78
34 years$517$353$234$153$98$69
35 years$497$334$219$140$89$62
36 years$478$317$205$129$80$56
37 years$460$302$192$119$73$50
38 years$443$287$180$110$66$45
39 years$427$272$168$101$60$40
40 years$412$259$158$93$54$36
41 years$397$247$148$86$49$32
42 years$383$235$139$80$45$29
43 years$370$224$130$73$41$26
44 years$358$213$122$68$37$23
45 years$346$204$115$63$33$21
46 years$334$194$108$58$30$18
47 years$324$185$101$53$28$17
48 years$313$177$95$49$25$15
49 years$303$169$89$46$23$13
50 years$294$161$84$42$21$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $301,000, adding $6,494 every year, while hoping to spend $21,373 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: 46/43/11 Blend
55$301,000$301,000$301,000$301,000
56$338,401$322,448$317,782$352,635
57$350,177$315,507$305,687$356,209
58$362,438$307,510$292,471$357,366
59$375,210$298,382$278,072$358,140
60$388,524$288,044$262,430$358,502
61$402,409$276,414$245,477$358,423
62$416,899$263,403$227,145$357,874
63$432,031$248,918$207,363$356,822
64$447,844$232,861$186,055$355,234
65$464,380$215,126$163,143$353,076
66$481,684$195,605$138,546$350,312
67$499,806$174,180$112,177$346,904
68$518,800$150,728$83,949$342,815
69$538,723$125,120$53,767$338,005
70$559,640$97,217$21,535$332,432
71$581,617$66,876$0$326,055
72$604,731$33,942$0$320,339
73$629,062$0$0$316,527
74$654,698$0$0$312,882
75$681,735$0$0$325,989
76$710,278$0$0$339,841
77$740,441$0$0$354,495
78$772,349$0$0$370,012
79$806,138$0$0$386,463
80$841,955$0$0$403,921
81$879,964$0$0$422,468
82$920,343$0$0$442,193
83$963,284$0$0$463,194
84$1,009,001$0$0$485,577
85$1,057,726$0$0$509,461
86$1,109,714$0$0$534,973
87$1,165,244$0$0$562,254
88$1,224,622$0$0$591,459
89$1,288,183$0$0$622,755
90$1,356,295$0$0$656,329
91$1,429,360$0$0$692,385
92$1,507,822$0$0$731,145
93$1,592,166$0$0$772,854
94$1,682,925$0$0$817,783
95$1,780,685$0$0$866,227
96$1,886,089$0$0$918,510
97$1,999,842$0$0$974,991
98$2,122,722$0$0$1,036,060
99$2,255,581$0$0$1,102,149
100$2,399,356$0$0$1,173,732