Can I retire at age 56 with 301,000?

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 $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%15.2%
1 years$24,856$24,635$24,419$24,208$24,002$23,489
2 years$12,305$12,076$11,854$11,638$11,430$10,915
3 years$8,122$7,892$7,670$7,457$7,251$6,751
4 years$6,031$5,801$5,582$5,372$5,172$4,690
5 years$4,776$4,548$4,332$4,126$3,931$3,470
6 years$3,940$3,714$3,501$3,300$3,111$2,670
7 years$3,343$3,119$2,909$2,713$2,530$2,109
8 years$2,896$2,674$2,467$2,276$2,099$1,699
9 years$2,548$2,328$2,125$1,939$1,768$1,387
10 years$2,270$2,052$1,853$1,671$1,506$1,146
11 years$2,043$1,827$1,631$1,454$1,295$954
12 years$1,853$1,640$1,447$1,276$1,122$800
13 years$1,693$1,482$1,293$1,126$979$674
14 years$1,556$1,347$1,162$1,000$858$571
15 years$1,437$1,230$1,049$892$755$486
16 years$1,334$1,129$951$798$668$414
17 years$1,242$1,040$866$717$592$354
18 years$1,161$961$790$646$526$303
19 years$1,088$890$723$584$469$260
20 years$1,023$827$664$529$419$224
21 years$964$771$611$480$375$193
22 years$911$719$563$437$336$166
23 years$862$673$520$398$302$143
24 years$817$630$481$363$271$124
25 years$776$592$445$331$244$107
26 years$738$556$413$303$220$92
27 years$703$523$383$277$198$80
28 years$671$493$356$254$179$69
29 years$641$465$332$233$161$60
30 years$613$439$309$214$146$52
31 years$587$415$288$196$132$45
32 years$562$393$269$180$119$39
33 years$539$372$251$166$108$34
34 years$517$353$234$153$98$29
35 years$497$334$219$140$89$25
36 years$478$317$205$129$80$22
37 years$460$302$192$119$73$19
38 years$443$287$180$110$66$17
39 years$427$272$168$101$60$14
40 years$412$259$158$93$54$12
41 years$397$247$148$86$49$11
42 years$383$235$139$80$45$9
43 years$370$224$130$73$41$8
44 years$358$213$122$68$37$7
45 years$346$204$115$63$33$6
46 years$334$194$108$58$30$5
47 years$324$185$101$53$28$5
48 years$313$177$95$49$25$4
49 years$303$169$89$46$23$3
50 years$294$161$84$42$21$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $301,000, adding $5,032 every year, while hoping to spend $23,669 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: 65/13/22 Blend
55$301,000$301,000$301,000$301,000
56$336,893$320,940$316,274$356,578
57$346,072$311,482$301,686$360,978
58$355,394$300,768$285,815$362,650
59$364,849$288,710$268,595$363,928
60$374,425$275,218$249,953$364,776
61$384,106$260,193$229,817$365,153
62$393,877$243,535$208,108$365,016
63$403,718$225,134$184,745$364,318
64$413,608$204,876$159,644$363,009
65$423,520$182,639$132,717$361,033
66$433,427$158,296$103,871$358,333
67$443,296$131,712$73,010$354,843
68$453,090$102,743$40,033$350,497
69$462,766$71,239$4,836$345,219
70$472,279$37,041$0$338,928
71$481,575$0$0$339,222
72$490,595$0$0$340,036
73$499,271$0$0$345,893
74$507,529$0$0$351,439
75$515,286$0$0$356,613
76$522,447$0$0$361,350
77$528,909$0$0$365,573
78$534,555$0$0$369,198
79$539,256$0$0$372,134
80$542,866$0$0$374,274
81$545,226$0$0$375,505
82$546,156$0$0$375,698
83$545,459$0$0$374,710
84$542,914$0$0$372,383
85$538,276$0$0$368,541
86$531,275$0$0$362,990
87$521,610$0$0$355,514
88$508,948$0$0$345,873
89$492,920$0$0$333,803
90$473,116$0$0$319,011
91$449,085$0$0$301,171
92$420,325$0$0$279,925
93$386,284$0$0$254,874
94$346,347$0$0$225,580
95$299,837$0$0$191,556
96$246,006$0$0$152,266
97$184,025$0$0$107,114
98$112,978$0$0$55,445
99$31,856$0$0$0
100$0$0$0$0