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%13.5%
1 years$26,756$26,517$26,285$26,058$25,836$25,461
2 years$13,245$12,999$12,760$12,528$12,303$11,925
3 years$8,743$8,495$8,256$8,027$7,806$7,438
4 years$6,492$6,245$6,008$5,783$5,567$5,212
5 years$5,141$4,896$4,663$4,442$4,232$3,890
6 years$4,241$3,998$3,768$3,552$3,349$3,021
7 years$3,599$3,357$3,131$2,920$2,723$2,410
8 years$3,117$2,878$2,656$2,450$2,259$1,960
9 years$2,743$2,506$2,287$2,087$1,903$1,617
10 years$2,443$2,209$1,994$1,799$1,621$1,349
11 years$2,199$1,966$1,756$1,565$1,394$1,136
12 years$1,995$1,765$1,558$1,373$1,208$963
13 years$1,823$1,595$1,392$1,212$1,054$821
14 years$1,675$1,450$1,251$1,076$924$703
15 years$1,547$1,324$1,129$960$813$605
16 years$1,435$1,215$1,024$859$719$522
17 years$1,337$1,119$932$772$637$452
18 years$1,250$1,034$850$696$567$392
19 years$1,171$958$779$629$505$341
20 years$1,101$890$715$569$451$297
21 years$1,038$829$657$517$404$259
22 years$980$774$606$470$362$226
23 years$928$724$559$428$325$197
24 years$879$678$517$390$292$173
25 years$835$637$479$356$263$151
26 years$795$598$444$326$237$133
27 years$757$563$413$298$213$116
28 years$722$531$384$273$193$102
29 years$690$501$357$251$174$90
30 years$660$473$332$230$157$79
31 years$631$447$310$211$142$69
32 years$605$423$289$194$128$61
33 years$580$401$270$179$116$53
34 years$557$380$252$164$105$47
35 years$535$360$236$151$95$41
36 years$515$342$221$139$86$36
37 years$495$325$207$128$78$32
38 years$477$308$193$118$71$28
39 years$459$293$181$109$64$25
40 years$443$279$170$101$58$22
41 years$427$266$159$93$53$19
42 years$412$253$149$86$48$17
43 years$398$241$140$79$44$15
44 years$385$230$132$73$40$13
45 years$372$219$124$67$36$12
46 years$360$209$116$62$33$10
47 years$348$199$109$58$30$9
48 years$337$190$102$53$27$8
49 years$327$182$96$49$24$7
50 years$316$174$91$45$22$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $324,000, adding $5,609 every year, while hoping to spend $24,698 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: 51/42/7 Blend
55$324,000$324,000$324,000$324,000
56$362,834$345,662$340,640$380,421
57$373,564$336,321$325,773$383,664
58$384,562$325,694$309,580$384,054
59$395,827$313,693$291,991$383,889
60$407,360$300,223$272,931$383,124
61$419,162$285,185$252,325$381,708
62$431,230$268,472$230,092$379,589
63$443,562$249,974$206,147$376,710
64$456,155$229,573$180,403$373,012
65$469,004$207,144$152,767$368,429
66$482,103$182,554$123,146$362,894
67$495,444$155,665$91,437$356,333
68$509,017$126,330$57,538$348,669
69$522,810$94,394$21,339$339,819
70$536,809$59,691$0$329,694
71$550,996$22,049$0$319,491
72$565,353$0$0$309,603
73$579,857$0$0$306,987
74$594,480$0$0$314,610
75$609,192$0$0$322,264
76$623,959$0$0$329,929
77$638,739$0$0$337,583
78$653,487$0$0$345,198
79$668,153$0$0$352,744
80$682,676$0$0$360,190
81$696,992$0$0$367,495
82$711,025$0$0$374,619
83$724,692$0$0$381,513
84$737,900$0$0$388,124
85$750,542$0$0$394,391
86$762,500$0$0$400,249
87$773,644$0$0$405,621
88$783,826$0$0$410,424
89$792,881$0$0$414,565
90$800,627$0$0$417,940
91$806,859$0$0$420,433
92$811,351$0$0$421,917
93$813,850$0$0$422,248
94$814,076$0$0$421,268
95$811,717$0$0$418,800
96$806,427$0$0$414,649
97$797,824$0$0$408,598
98$785,480$0$0$400,407
99$768,926$0$0$389,810
100$747,637$0$0$376,512