Can I retire at age 56 with 362,000?

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 $362,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12%
1 years$29,894$29,627$29,368$29,114$28,866$28,625
2 years$14,799$14,523$14,256$13,997$13,746$13,502
3 years$9,768$9,491$9,225$8,968$8,721$8,483
4 years$7,253$6,977$6,713$6,461$6,220$5,989
5 years$5,744$5,470$5,210$4,963$4,728$4,506
6 years$4,739$4,467$4,210$3,969$3,741$3,527
7 years$4,021$3,751$3,499$3,263$3,043$2,837
8 years$3,483$3,215$2,967$2,737$2,524$2,327
9 years$3,065$2,800$2,556$2,331$2,126$1,937
10 years$2,730$2,468$2,228$2,010$1,811$1,631
11 years$2,457$2,197$1,962$1,749$1,558$1,386
12 years$2,229$1,972$1,741$1,534$1,350$1,186
13 years$2,036$1,782$1,555$1,354$1,177$1,021
14 years$1,871$1,620$1,397$1,202$1,032$884
15 years$1,729$1,480$1,262$1,072$909$768
16 years$1,604$1,358$1,144$960$803$670
17 years$1,494$1,250$1,041$863$712$586
18 years$1,396$1,155$950$777$633$513
19 years$1,309$1,071$870$702$564$451
20 years$1,230$995$798$636$504$397
21 years$1,159$927$734$577$451$350
22 years$1,095$865$677$525$404$309
23 years$1,036$809$625$478$363$274
24 years$983$758$578$436$326$242
25 years$933$711$535$398$294$215
26 years$888$669$496$364$264$190
27 years$846$629$461$333$238$169
28 years$807$593$429$305$215$150
29 years$771$559$399$280$194$133
30 years$737$528$371$257$175$119
31 years$705$499$346$236$159$106
32 years$676$473$323$217$144$94
33 years$648$447$302$199$130$84
34 years$622$424$282$184$118$74
35 years$598$402$264$169$107$66
36 years$575$382$247$156$97$59
37 years$553$363$231$143$87$53
38 years$533$345$216$132$79$47
39 years$513$328$202$122$72$42
40 years$495$312$190$112$65$37
41 years$477$297$178$104$59$33
42 years$461$283$167$96$54$30
43 years$445$269$157$88$49$26
44 years$430$257$147$82$44$24
45 years$416$245$138$75$40$21
46 years$402$234$130$70$36$19
47 years$389$223$122$64$33$17
48 years$377$213$114$59$30$15
49 years$365$203$108$55$27$13
50 years$353$194$101$51$25$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $362,000, adding $6,209 every year, while hoping to spend $28,182 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: 53/26/21 Blend
55$362,000$362,000$362,000$362,000
56$405,329$386,143$380,532$424,169
57$416,687$375,078$363,294$426,730
58$428,259$362,527$344,534$426,064
59$440,037$348,387$324,172$424,739
60$452,011$332,548$302,122$422,702
61$464,171$314,897$278,298$419,895
62$476,501$295,312$252,605$416,258
63$488,986$273,664$224,950$411,725
64$501,606$249,818$195,230$406,226
65$514,341$223,629$163,340$399,687
66$527,164$194,947$129,172$392,027
67$540,046$163,611$92,611$383,161
68$552,954$129,451$53,537$372,998
69$565,850$92,289$11,825$361,440
70$578,691$51,936$0$348,381
71$591,428$8,192$0$341,035
72$604,007$0$0$335,260
73$616,364$0$0$339,508
74$628,430$0$0$345,910
75$640,127$0$0$352,076
76$651,366$0$0$357,954
77$662,049$0$0$363,485
78$672,066$0$0$368,605
79$681,292$0$0$373,240
80$689,591$0$0$377,310
81$696,808$0$0$380,723
82$702,774$0$0$383,380
83$707,297$0$0$385,169
84$710,165$0$0$385,965
85$711,144$0$0$385,629
86$709,973$0$0$384,008
87$706,359$0$0$380,932
88$699,983$0$0$376,212
89$690,485$0$0$369,637
90$677,471$0$0$360,976
91$660,500$0$0$349,971
92$639,088$0$0$336,337
93$612,694$0$0$319,758
94$580,724$0$0$299,886
95$542,517$0$0$276,333
96$497,343$0$0$248,672
97$444,396$0$0$216,431
98$382,782$0$0$179,086
99$311,515$0$0$136,061
100$229,504$0$0$86,716