Can I retire at age 56 with 357,000?

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 $357,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.4%
1 years$29,481$29,218$28,962$28,712$28,468$27,723
2 years$14,594$14,323$14,059$13,804$13,556$12,811
3 years$9,633$9,360$9,097$8,844$8,601$7,878
4 years$7,153$6,881$6,620$6,372$6,134$5,440
5 years$5,665$5,394$5,138$4,894$4,663$3,999
6 years$4,673$4,405$4,152$3,914$3,690$3,057
7 years$3,966$3,699$3,450$3,218$3,001$2,399
8 years$3,435$3,171$2,926$2,699$2,489$1,918
9 years$3,022$2,761$2,520$2,299$2,096$1,556
10 years$2,692$2,434$2,197$1,982$1,786$1,275
11 years$2,423$2,166$1,934$1,725$1,536$1,054
12 years$2,198$1,945$1,717$1,513$1,331$877
13 years$2,008$1,757$1,534$1,336$1,161$733
14 years$1,846$1,597$1,378$1,186$1,018$616
15 years$1,705$1,459$1,244$1,057$896$519
16 years$1,582$1,339$1,128$947$792$439
17 years$1,473$1,233$1,027$851$702$372
18 years$1,377$1,139$937$767$624$316
19 years$1,291$1,056$858$693$556$269
20 years$1,213$981$787$627$497$229
21 years$1,143$914$724$569$445$195
22 years$1,080$853$667$518$399$167
23 years$1,022$798$616$472$358$143
24 years$969$748$570$430$322$122
25 years$920$702$528$393$289$104
26 years$876$659$490$359$261$89
27 years$834$621$455$329$235$77
28 years$796$585$423$301$212$66
29 years$760$552$393$276$192$56
30 years$727$521$366$253$173$48
31 years$696$492$342$233$156$41
32 years$667$466$319$214$142$36
33 years$639$441$298$197$128$30
34 years$614$418$278$181$116$26
35 years$590$397$260$167$105$22
36 years$567$377$243$153$95$19
37 years$546$358$228$141$86$17
38 years$525$340$213$130$78$14
39 years$506$323$200$120$71$12
40 years$488$307$187$111$64$10
41 years$471$293$175$102$58$9
42 years$455$279$165$94$53$8
43 years$439$266$154$87$48$7
44 years$424$253$145$80$44$6
45 years$410$241$136$74$40$5
46 years$397$230$128$69$36$4
47 years$384$220$120$63$33$4
48 years$372$210$113$59$30$3
49 years$360$200$106$54$27$3
50 years$349$191$100$50$24$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $357,000, adding $6,570 every year, while hoping to spend $27,641 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: 42/36/22 Blend
55$357,000$357,000$357,000$357,000
56$400,191$381,270$375,736$414,179
57$411,601$370,542$358,914$414,039
58$423,248$358,363$340,601$410,729
59$435,127$344,631$320,720$406,586
60$447,233$329,240$299,186$401,547
61$459,556$312,079$275,915$395,548
62$472,088$293,027$250,815$388,518
63$484,816$271,961$223,792$380,383
64$497,726$248,746$194,749$371,064
65$510,803$223,243$163,581$360,476
66$524,026$195,303$130,182$348,532
67$537,373$164,769$94,439$335,135
68$550,818$131,476$56,236$320,184
69$564,331$95,248$15,450$303,572
70$577,879$55,901$0$285,185
71$591,422$13,240$0$271,491
72$604,916$0$0$260,069
73$618,311$0$0$260,231
74$631,552$0$0$265,542
75$644,573$0$0$270,726
76$657,303$0$0$275,748
77$669,662$0$0$280,571
78$681,559$0$0$285,152
79$692,892$0$0$289,443
80$703,549$0$0$293,391
81$713,402$0$0$296,936
82$722,310$0$0$300,011
83$730,115$0$0$302,543
84$736,641$0$0$304,449
85$741,692$0$0$305,638
86$745,051$0$0$306,006
87$746,476$0$0$305,442
88$745,696$0$0$303,820
89$742,415$0$0$300,999
90$736,299$0$0$296,826
91$726,981$0$0$291,129
92$714,054$0$0$283,717
93$697,065$0$0$274,380
94$675,514$0$0$262,886
95$648,846$0$0$248,975
96$616,447$0$0$232,363
97$577,639$0$0$212,733
98$531,669$0$0$189,735
99$477,706$0$0$162,984
100$414,830$0$0$132,052