Can I retire at age 56 with 356,000?

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 $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%19.6%
1 years$29,398$29,136$28,881$28,631$28,388$27,294
2 years$14,554$14,282$14,020$13,765$13,518$12,429
3 years$9,606$9,334$9,072$8,819$8,576$7,526
4 years$7,133$6,861$6,602$6,354$6,117$5,114
5 years$5,649$5,379$5,123$4,880$4,650$3,697
6 years$4,660$4,393$4,140$3,903$3,679$2,776
7 years$3,954$3,689$3,441$3,209$2,992$2,139
8 years$3,425$3,162$2,918$2,692$2,482$1,679
9 years$3,014$2,753$2,513$2,293$2,091$1,335
10 years$2,685$2,427$2,191$1,976$1,781$1,072
11 years$2,416$2,160$1,929$1,720$1,532$868
12 years$2,192$1,939$1,712$1,509$1,328$707
13 years$2,003$1,752$1,530$1,332$1,158$579
14 years$1,840$1,593$1,374$1,182$1,015$475
15 years$1,700$1,455$1,241$1,054$893$392
16 years$1,577$1,335$1,125$944$790$324
17 years$1,469$1,230$1,024$848$700$268
18 years$1,373$1,136$934$765$623$222
19 years$1,287$1,053$855$691$555$185
20 years$1,210$978$785$626$496$153
21 years$1,140$911$722$568$444$128
22 years$1,077$851$666$516$398$106
23 years$1,019$796$615$470$357$89
24 years$966$746$568$429$321$74
25 years$918$700$526$392$289$62
26 years$873$658$488$358$260$51
27 years$832$619$453$328$234$43
28 years$793$583$421$300$212$36
29 years$758$550$392$275$191$30
30 years$725$520$365$253$173$25
31 years$694$491$341$232$156$21
32 years$665$465$318$213$141$17
33 years$638$440$297$196$128$15
34 years$612$417$277$180$116$12
35 years$588$396$259$166$105$10
36 years$565$375$242$153$95$9
37 years$544$357$227$141$86$7
38 years$524$339$213$130$78$6
39 years$505$322$199$120$71$5
40 years$487$307$187$111$64$4
41 years$470$292$175$102$58$3
42 years$453$278$164$94$53$3
43 years$438$265$154$87$48$2
44 years$423$252$145$80$43$2
45 years$409$241$136$74$39$2
46 years$396$230$128$68$36$1
47 years$383$219$120$63$33$1
48 years$370$209$113$58$30$1
49 years$359$200$106$54$27$1
50 years$348$191$99$50$24$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $356,000, adding $2,691 every year, while hoping to spend $20,637 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: 58/33/9 Blend
55$356,000$356,000$356,000$356,000
56$395,088$376,220$370,702$417,024
57$413,429$372,697$361,163$428,578
58$432,950$368,310$350,612$438,609
59$453,748$362,994$338,995$449,037
60$475,931$356,682$326,253$459,903
61$499,619$349,302$312,325$471,252
62$524,939$340,777$297,147$483,135
63$552,034$331,027$280,653$495,607
64$581,060$319,965$262,773$508,732
65$612,187$307,503$243,435$522,582
66$645,603$293,543$222,562$537,235
67$681,513$277,985$200,077$552,782
68$720,142$260,721$175,894$569,320
69$761,739$241,639$149,929$586,963
70$806,575$220,618$122,090$605,832
71$854,949$197,531$92,284$626,068
72$907,190$172,246$60,411$647,824
73$963,657$144,621$26,369$671,273
74$1,024,749$114,506$0$696,606
75$1,090,900$81,743$0$724,993
76$1,162,589$46,166$0$758,481
77$1,240,344$7,599$0$794,810
78$1,324,744$0$0$834,286
79$1,416,426$0$0$889,647
80$1,516,092$0$0$952,856
81$1,624,511$0$0$1,021,644
82$1,742,533$0$0$1,096,554
83$1,871,092$0$0$1,178,181
84$2,011,215$0$0$1,267,183
85$2,164,032$0$0$1,364,281
86$2,330,788$0$0$1,470,270
87$2,512,854$0$0$1,586,026
88$2,711,736$0$0$1,712,510
89$2,929,095$0$0$1,850,785
90$3,166,758$0$0$2,002,016
91$3,426,739$0$0$2,167,491
92$3,711,252$0$0$2,348,624
93$4,022,738$0$0$2,546,974
94$4,363,882$0$0$2,764,258
95$4,737,645$0$0$3,002,366
96$5,147,283$0$0$3,263,379
97$5,596,386$0$0$3,549,592
98$6,088,907$0$0$3,863,528
99$6,629,197$0$0$4,207,970
100$7,222,053$0$0$4,585,981