Can I retire at age 56 with 356,000?

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 $356,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.2%
1 years$29,398$29,136$28,881$28,631$28,388$27,668
2 years$14,554$14,282$14,020$13,765$13,518$12,797
3 years$9,606$9,334$9,072$8,819$8,576$7,878
4 years$7,133$6,861$6,602$6,354$6,117$5,445
5 years$5,649$5,379$5,123$4,880$4,650$4,007
6 years$4,660$4,393$4,140$3,903$3,679$3,066
7 years$3,954$3,689$3,441$3,209$2,992$2,409
8 years$3,425$3,162$2,918$2,692$2,482$1,929
9 years$3,014$2,753$2,513$2,293$2,091$1,566
10 years$2,685$2,427$2,191$1,976$1,781$1,285
11 years$2,416$2,160$1,929$1,720$1,532$1,063
12 years$2,192$1,939$1,712$1,509$1,328$886
13 years$2,003$1,752$1,530$1,332$1,158$742
14 years$1,840$1,593$1,374$1,182$1,015$624
15 years$1,700$1,455$1,241$1,054$893$527
16 years$1,577$1,335$1,125$944$790$446
17 years$1,469$1,230$1,024$848$700$379
18 years$1,373$1,136$934$765$623$322
19 years$1,287$1,053$855$691$555$274
20 years$1,210$978$785$626$496$234
21 years$1,140$911$722$568$444$200
22 years$1,077$851$666$516$398$171
23 years$1,019$796$615$470$357$146
24 years$966$746$568$429$321$125
25 years$918$700$526$392$289$108
26 years$873$658$488$358$260$92
27 years$832$619$453$328$234$79
28 years$793$583$421$300$212$68
29 years$758$550$392$275$191$58
30 years$725$520$365$253$173$50
31 years$694$491$341$232$156$43
32 years$665$465$318$213$141$37
33 years$638$440$297$196$128$32
34 years$612$417$277$180$116$27
35 years$588$396$259$166$105$24
36 years$565$375$242$153$95$20
37 years$544$357$227$141$86$17
38 years$524$339$213$130$78$15
39 years$505$322$199$120$71$13
40 years$487$307$187$111$64$11
41 years$470$292$175$102$58$10
42 years$453$278$164$94$53$8
43 years$438$265$154$87$48$7
44 years$423$252$145$80$43$6
45 years$409$241$136$74$39$5
46 years$396$230$128$68$36$4
47 years$383$219$120$63$33$4
48 years$370$209$113$58$30$3
49 years$359$200$106$54$27$3
50 years$348$191$99$50$24$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $356,000, adding $2,408 every year, while hoping to spend $20,981 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: 66/14/20 Blend
55$356,000$356,000$356,000$356,000
56$394,796$375,928$370,410$418,715
57$412,741$372,025$360,495$431,150
58$431,814$367,227$349,545$442,111
59$452,107$361,469$337,502$453,595
60$473,722$354,681$324,308$465,652
61$496,769$346,788$309,901$478,340
62$521,371$337,712$294,214$491,723
63$547,662$327,371$277,181$505,871
64$575,787$315,676$258,730$520,864
65$605,907$302,534$238,787$536,790
66$638,199$287,847$217,276$553,746
67$672,854$271,510$194,113$571,840
68$710,085$253,415$169,216$591,193
69$750,125$233,443$142,496$611,938
70$793,229$211,473$113,861$634,225
71$839,677$187,373$83,214$658,219
72$889,777$161,008$50,454$684,102
73$943,867$132,230$15,478$712,078
74$1,002,320$100,888$0$742,372
75$1,065,544$66,818$0$779,896
76$1,133,987$29,850$0$824,092
77$1,208,144$0$0$871,987
78$1,288,558$0$0$925,518
79$1,375,825$0$0$988,622
80$1,470,602$0$0$1,057,175
81$1,573,611$0$0$1,131,705
82$1,685,646$0$0$1,212,787
83$1,807,583$0$0$1,301,057
84$1,940,382$0$0$1,397,215
85$2,085,102$0$0$1,502,030
86$2,242,908$0$0$1,616,348
87$2,415,081$0$0$1,741,102
88$2,603,033$0$0$1,877,317
89$2,808,317$0$0$2,026,123
90$3,032,643$0$0$2,188,762
91$3,277,893$0$0$2,366,604
92$3,546,140$0$0$2,561,155
93$3,839,666$0$0$2,774,075
94$4,160,985$0$0$3,007,190
95$4,512,862$0$0$3,262,514
96$4,898,346$0$0$3,542,261
97$5,320,792$0$0$3,848,871
98$5,783,896$0$0$4,185,034
99$6,291,729$0$0$4,553,707
100$6,848,774$0$0$4,958,151