Can I retire at age 56 with 324,000?

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 $324,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.6%
1 years$26,756$26,517$26,285$26,058$25,836$25,663
2 years$13,245$12,999$12,760$12,528$12,303$12,128
3 years$8,743$8,495$8,256$8,027$7,806$7,634
4 years$6,492$6,245$6,008$5,783$5,567$5,401
5 years$5,141$4,896$4,663$4,442$4,232$4,072
6 years$4,241$3,998$3,768$3,552$3,349$3,194
7 years$3,599$3,357$3,131$2,920$2,723$2,575
8 years$3,117$2,878$2,656$2,450$2,259$2,117
9 years$2,743$2,506$2,287$2,087$1,903$1,766
10 years$2,443$2,209$1,994$1,799$1,621$1,491
11 years$2,199$1,966$1,756$1,565$1,394$1,270
12 years$1,995$1,765$1,558$1,373$1,208$1,090
13 years$1,823$1,595$1,392$1,212$1,054$941
14 years$1,675$1,450$1,251$1,076$924$816
15 years$1,547$1,324$1,129$960$813$711
16 years$1,435$1,215$1,024$859$719$622
17 years$1,337$1,119$932$772$637$545
18 years$1,250$1,034$850$696$567$479
19 years$1,171$958$779$629$505$422
20 years$1,101$890$715$569$451$373
21 years$1,038$829$657$517$404$330
22 years$980$774$606$470$362$292
23 years$928$724$559$428$325$259
24 years$879$678$517$390$292$230
25 years$835$637$479$356$263$205
26 years$795$598$444$326$237$182
27 years$757$563$413$298$213$162
28 years$722$531$384$273$193$144
29 years$690$501$357$251$174$129
30 years$660$473$332$230$157$115
31 years$631$447$310$211$142$103
32 years$605$423$289$194$128$92
33 years$580$401$270$179$116$82
34 years$557$380$252$164$105$73
35 years$535$360$236$151$95$65
36 years$515$342$221$139$86$58
37 years$495$325$207$128$78$52
38 years$477$308$193$118$71$47
39 years$459$293$181$109$64$42
40 years$443$279$170$101$58$37
41 years$427$266$159$93$53$33
42 years$412$253$149$86$48$30
43 years$398$241$140$79$44$27
44 years$385$230$132$73$40$24
45 years$372$219$124$67$36$21
46 years$360$209$116$62$33$19
47 years$348$199$109$58$30$17
48 years$337$190$102$53$27$15
49 years$327$182$96$49$24$14
50 years$316$174$91$45$22$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $324,000, adding $5,218 every year, while hoping to spend $22,724 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: 59/16/25 Blend
55$324,000$324,000$324,000$324,000
56$362,430$345,258$340,236$381,091
57$375,220$337,998$327,456$387,144
58$388,553$329,620$313,486$390,855
59$402,460$320,046$298,263$394,417
60$416,975$309,193$281,719$397,820
61$432,135$296,971$263,785$401,055
62$447,979$283,289$244,388$404,115
63$464,549$268,047$223,451$406,989
64$481,893$251,141$200,896$409,670
65$500,059$232,460$176,640$412,151
66$519,102$211,888$150,594$414,425
67$539,081$189,300$122,669$416,485
68$560,059$164,568$92,770$418,328
69$582,105$137,552$60,799$419,949
70$605,296$108,108$26,651$421,346
71$629,711$76,080$0$422,519
72$655,442$41,308$0$426,082
73$682,584$3,620$0$437,183
74$711,244$0$0$448,744
75$741,537$0$0$467,351
76$773,588$0$0$487,725
77$807,536$0$0$509,317
78$843,530$0$0$532,224
79$881,736$0$0$556,553
80$922,331$0$0$582,420
81$965,512$0$0$609,952
82$1,011,495$0$0$639,289
83$1,060,515$0$0$670,582
84$1,112,828$0$0$703,998
85$1,168,718$0$0$739,721
86$1,228,494$0$0$777,951
87$1,292,495$0$0$818,908
88$1,361,092$0$0$862,834
89$1,434,695$0$0$909,992
90$1,513,751$0$0$960,673
91$1,598,750$0$0$1,015,197
92$1,690,234$0$0$1,073,913
93$1,788,794$0$0$1,137,206
94$1,895,080$0$0$1,205,498
95$2,009,809$0$0$1,279,253
96$2,133,765$0$0$1,358,981
97$2,267,812$0$0$1,445,242
98$2,412,898$0$0$1,538,653
99$2,570,067$0$0$1,639,891
100$2,740,465$0$0$1,749,700