Can I retire at age 56 with 362,000?

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 $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%11.3%
1 years$29,894$29,627$29,368$29,114$28,866$28,709
2 years$14,799$14,523$14,256$13,997$13,746$13,587
3 years$9,768$9,491$9,225$8,968$8,721$8,565
4 years$7,253$6,977$6,713$6,461$6,220$6,069
5 years$5,744$5,470$5,210$4,963$4,728$4,582
6 years$4,739$4,467$4,210$3,969$3,741$3,601
7 years$4,021$3,751$3,499$3,263$3,043$2,907
8 years$3,483$3,215$2,967$2,737$2,524$2,394
9 years$3,065$2,800$2,556$2,331$2,126$2,001
10 years$2,730$2,468$2,228$2,010$1,811$1,692
11 years$2,457$2,197$1,962$1,749$1,558$1,444
12 years$2,229$1,972$1,741$1,534$1,350$1,241
13 years$2,036$1,782$1,555$1,354$1,177$1,073
14 years$1,871$1,620$1,397$1,202$1,032$933
15 years$1,729$1,480$1,262$1,072$909$815
16 years$1,604$1,358$1,144$960$803$714
17 years$1,494$1,250$1,041$863$712$627
18 years$1,396$1,155$950$777$633$553
19 years$1,309$1,071$870$702$564$488
20 years$1,230$995$798$636$504$432
21 years$1,159$927$734$577$451$383
22 years$1,095$865$677$525$404$340
23 years$1,036$809$625$478$363$302
24 years$983$758$578$436$326$269
25 years$933$711$535$398$294$240
26 years$888$669$496$364$264$214
27 years$846$629$461$333$238$191
28 years$807$593$429$305$215$170
29 years$771$559$399$280$194$152
30 years$737$528$371$257$175$136
31 years$705$499$346$236$159$122
32 years$676$473$323$217$144$109
33 years$648$447$302$199$130$98
34 years$622$424$282$184$118$87
35 years$598$402$264$169$107$78
36 years$575$382$247$156$97$70
37 years$553$363$231$143$87$63
38 years$533$345$216$132$79$56
39 years$513$328$202$122$72$51
40 years$495$312$190$112$65$45
41 years$477$297$178$104$59$41
42 years$461$283$167$96$54$37
43 years$445$269$157$88$49$33
44 years$430$257$147$82$44$29
45 years$416$245$138$75$40$26
46 years$402$234$130$70$36$24
47 years$389$223$122$64$33$21
48 years$377$213$114$59$30$19
49 years$365$203$108$55$27$17
50 years$353$194$101$51$25$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $362,000, adding $4,662 every year, while hoping to spend $24,779 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: 76/12/12 Blend
55$362,000$362,000$362,000$362,000
56$403,733$384,547$378,936$433,116
57$418,549$377,025$365,266$445,608
58$434,046$368,304$350,307$455,707
59$450,267$358,299$333,990$466,084
60$467,258$346,920$316,244$476,759
61$485,072$334,073$296,991$487,752
62$503,762$319,655$276,153$499,089
63$523,389$303,561$253,647$510,795
64$544,017$285,679$229,387$522,899
65$565,718$265,888$203,283$535,435
66$588,568$244,063$175,239$548,440
67$612,651$220,071$145,158$561,955
68$638,057$193,770$112,937$576,026
69$664,887$165,013$78,469$590,704
70$693,249$133,642$41,641$606,046
71$723,261$99,491$2,336$622,117
72$755,051$62,384$0$638,986
73$788,762$22,137$0$661,806
74$824,548$0$0$686,241
75$862,576$0$0$714,939
76$903,033$0$0$748,586
77$946,118$0$0$784,427
78$992,054$0$0$822,649
79$1,041,083$0$0$863,453
80$1,093,469$0$0$907,060
81$1,149,504$0$0$953,715
82$1,209,507$0$0$1,003,684
83$1,273,826$0$0$1,057,260
84$1,342,846$0$0$1,114,763
85$1,416,987$0$0$1,176,546
86$1,496,711$0$0$1,242,996
87$1,582,526$0$0$1,314,536
88$1,674,989$0$0$1,391,633
89$1,774,710$0$0$1,474,798
90$1,882,362$0$0$1,564,595
91$1,998,684$0$0$1,661,642
92$2,124,487$0$0$1,766,617
93$2,260,662$0$0$1,880,267
94$2,408,192$0$0$2,003,413
95$2,568,152$0$0$2,136,959
96$2,741,730$0$0$2,281,895
97$2,930,230$0$0$2,439,315
98$3,135,084$0$0$2,610,418
99$3,357,872$0$0$2,796,526
100$3,600,329$0$0$2,999,092