Can I retire at age 56 with 330,000?

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 $330,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.3%
1 years$27,251$27,008$26,772$26,540$26,315$25,637
2 years$13,491$13,239$12,996$12,760$12,531$11,852
3 years$8,904$8,652$8,409$8,175$7,950$7,292
4 years$6,612$6,360$6,120$5,890$5,670$5,038
5 years$5,237$4,986$4,749$4,524$4,310$3,706
6 years$4,320$4,072$3,838$3,618$3,411$2,834
7 years$3,666$3,420$3,189$2,974$2,774$2,225
8 years$3,175$2,931$2,705$2,495$2,301$1,781
9 years$2,794$2,552$2,330$2,125$1,938$1,445
10 years$2,489$2,250$2,031$1,832$1,651$1,185
11 years$2,239$2,003$1,788$1,594$1,420$980
12 years$2,032$1,797$1,587$1,399$1,231$816
13 years$1,856$1,624$1,418$1,235$1,073$683
14 years$1,706$1,477$1,274$1,096$941$574
15 years$1,576$1,349$1,150$977$828$484
16 years$1,462$1,238$1,043$875$732$410
17 years$1,362$1,140$949$786$649$347
18 years$1,273$1,053$866$709$577$295
19 years$1,193$976$793$640$514$251
20 years$1,122$907$728$580$459$214
21 years$1,057$845$669$526$411$183
22 years$998$789$617$479$369$156
23 years$945$738$570$436$331$134
24 years$896$691$527$398$297$115
25 years$851$649$488$363$268$98
26 years$809$610$453$332$241$84
27 years$771$574$420$304$217$72
28 years$735$541$391$278$196$62
29 years$702$510$364$255$177$53
30 years$672$482$339$234$160$46
31 years$643$455$316$215$145$39
32 years$616$431$295$198$131$34
33 years$591$408$275$182$118$29
34 years$567$387$257$167$107$25
35 years$545$367$240$154$97$21
36 years$524$348$225$142$88$18
37 years$504$331$210$131$80$16
38 years$486$314$197$120$72$14
39 years$468$299$185$111$66$12
40 years$451$284$173$102$59$10
41 years$435$271$162$95$54$9
42 years$420$258$152$87$49$7
43 years$406$246$143$81$44$6
44 years$392$234$134$74$40$5
45 years$379$223$126$69$37$5
46 years$367$213$118$63$33$4
47 years$355$203$111$59$30$3
48 years$343$194$104$54$27$3
49 years$333$185$98$50$25$3
50 years$322$177$92$46$23$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $330,000, adding $6,547 every year, while hoping to spend $25,546 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: 30/49/21 Blend
55$330,000$330,000$330,000$330,000
56$370,413$352,923$347,808$378,935
57$381,015$343,036$332,279$376,079
58$391,841$331,808$315,373$370,271
59$402,889$319,146$297,018$363,485
60$414,152$304,953$277,137$355,655
61$425,625$289,125$255,651$346,707
62$437,299$271,552$232,475$336,563
63$449,164$252,118$207,523$325,143
64$461,207$230,701$180,704$312,359
65$473,415$207,170$151,923$298,119
66$485,771$181,389$121,080$282,326
67$498,256$153,213$88,072$264,876
68$510,846$122,489$52,791$245,661
69$523,517$89,055$15,123$224,563
70$536,237$52,741$0$201,461
71$548,974$13,366$0$181,841
72$561,688$0$0$163,928
73$574,336$0$0$159,990
74$586,867$0$0$163,192
75$599,226$0$0$166,307
76$611,349$0$0$169,313
77$623,166$0$0$172,186
78$634,595$0$0$174,899
79$645,548$0$0$177,421
80$655,925$0$0$179,718
81$665,613$0$0$181,751
82$674,486$0$0$183,478
83$682,405$0$0$184,851
84$689,215$0$0$185,819
85$694,741$0$0$186,322
86$698,790$0$0$186,295
87$701,148$0$0$185,665
88$701,575$0$0$184,353
89$699,807$0$0$182,270
90$695,548$0$0$179,315
91$688,472$0$0$175,381
92$678,217$0$0$170,346
93$664,381$0$0$164,074
94$646,518$0$0$156,419
95$624,137$0$0$147,214
96$596,689$0$0$136,277
97$563,573$0$0$123,408
98$524,118$0$0$108,382
99$477,585$0$0$90,954
100$423,156$0$0$70,852