Can I retire at age 56 with 370,000?

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 $370,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.7%
1 years$30,554$30,282$30,017$29,757$29,504$28,814
2 years$15,126$14,844$14,571$14,306$14,050$13,359
3 years$9,984$9,701$9,428$9,166$8,914$8,243
4 years$7,413$7,131$6,862$6,604$6,357$5,712
5 years$5,871$5,591$5,325$5,072$4,833$4,215
6 years$4,844$4,565$4,303$4,056$3,824$3,234
7 years$4,110$3,834$3,576$3,335$3,110$2,548
8 years$3,560$3,286$3,033$2,798$2,580$2,046
9 years$3,132$2,861$2,612$2,383$2,173$1,666
10 years$2,790$2,522$2,277$2,054$1,851$1,371
11 years$2,511$2,245$2,005$1,788$1,592$1,138
12 years$2,278$2,015$1,779$1,568$1,380$952
13 years$2,081$1,821$1,590$1,384$1,203$800
14 years$1,913$1,655$1,428$1,229$1,055$675
15 years$1,767$1,512$1,290$1,096$929$572
16 years$1,639$1,388$1,169$981$821$486
17 years$1,527$1,278$1,064$882$728$414
18 years$1,427$1,181$971$795$647$353
19 years$1,338$1,094$889$718$577$302
20 years$1,258$1,017$816$650$515$259
21 years$1,185$947$751$590$461$222
22 years$1,119$884$692$537$413$191
23 years$1,059$827$639$489$371$164
24 years$1,004$775$591$446$333$141
25 years$954$727$547$407$300$121
26 years$907$683$507$372$270$104
27 years$864$643$471$341$244$90
28 years$825$606$438$312$220$78
29 years$788$572$408$286$199$67
30 years$753$540$380$263$179$58
31 years$721$510$354$241$162$50
32 years$691$483$330$222$147$43
33 years$663$457$308$204$133$37
34 years$636$433$288$188$120$32
35 years$611$411$269$173$109$28
36 years$588$390$252$159$99$24
37 years$565$371$236$147$89$21
38 years$544$352$221$135$81$18
39 years$525$335$207$125$73$15
40 years$506$319$194$115$67$13
41 years$488$303$182$106$60$11
42 years$471$289$171$98$55$10
43 years$455$275$160$90$50$9
44 years$440$262$150$83$45$7
45 years$425$250$141$77$41$6
46 years$411$239$133$71$37$6
47 years$398$228$124$66$34$5
48 years$385$217$117$61$31$4
49 years$373$208$110$56$28$4
50 years$361$198$103$52$25$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $370,000, adding $5,871 every year, while hoping to spend $31,772 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: 74/14/12 Blend
55$370,000$370,000$370,000$370,000
56$413,796$394,186$388,451$442,985
57$422,198$379,696$367,659$448,573
58$430,392$363,431$345,105$450,161
59$438,324$345,271$320,698$451,030
60$445,931$325,087$294,340$451,099
61$453,146$302,747$265,930$450,279
62$459,891$278,106$235,363$448,474
63$466,081$251,014$202,529$445,578
64$471,620$221,312$167,312$441,476
65$476,400$188,831$129,592$436,040
66$480,303$153,394$89,244$429,133
67$483,197$114,813$46,136$420,602
68$484,934$72,890$132$410,281
69$485,350$27,414$0$397,989
70$484,263$0$0$389,795
71$481,472$0$0$383,002
72$476,753$0$0$378,850
73$469,857$0$0$372,913
74$460,508$0$0$364,966
75$448,401$0$0$354,761
76$433,198$0$0$342,020
77$414,526$0$0$326,439
78$391,968$0$0$307,678
79$365,067$0$0$285,364
80$333,316$0$0$259,083
81$296,153$0$0$228,376
82$252,957$0$0$192,737
83$203,044$0$0$151,607
84$145,654$0$0$104,367
85$79,950$0$0$50,333
86$5,007$0$0$0
87$0$0$0$0
88$0$0$0$0
89$0$0$0$0
90$0$0$0$0
91$0$0$0$0
92$0$0$0$0
93$0$0$0$0
94$0$0$0$0
95$0$0$0$0
96$0$0$0$0
97$0$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0