Can I retire at age 56 with 377,000?

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 $377,000?

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$31,132$30,855$30,584$30,320$30,063$29,360
2 years$15,412$15,125$14,847$14,577$14,315$13,611
3 years$10,173$9,884$9,607$9,340$9,082$8,399
4 years$7,553$7,266$6,991$6,729$6,478$5,820
5 years$5,982$5,697$5,426$5,168$4,924$4,295
6 years$4,935$4,652$4,385$4,133$3,896$3,295
7 years$4,188$3,907$3,644$3,398$3,169$2,596
8 years$3,627$3,349$3,090$2,851$2,629$2,085
9 years$3,192$2,916$2,662$2,428$2,214$1,698
10 years$2,843$2,570$2,320$2,093$1,886$1,397
11 years$2,558$2,288$2,043$1,822$1,622$1,160
12 years$2,321$2,053$1,813$1,598$1,406$970
13 years$2,121$1,856$1,620$1,411$1,226$815
14 years$1,949$1,687$1,455$1,252$1,075$688
15 years$1,800$1,541$1,314$1,117$946$583
16 years$1,670$1,414$1,191$1,000$836$495
17 years$1,556$1,302$1,084$898$741$422
18 years$1,454$1,203$990$810$659$360
19 years$1,363$1,115$906$732$588$308
20 years$1,281$1,036$831$663$525$264
21 years$1,207$965$765$601$470$226
22 years$1,140$901$705$547$421$194
23 years$1,079$843$651$498$378$167
24 years$1,023$789$602$454$340$144
25 years$972$741$557$415$306$124
26 years$925$696$517$379$275$106
27 years$881$655$480$347$248$92
28 years$840$618$446$318$224$79
29 years$803$583$415$292$202$68
30 years$767$550$387$268$183$59
31 years$735$520$361$246$165$51
32 years$704$492$337$226$149$44
33 years$675$466$314$208$135$38
34 years$648$442$294$191$122$33
35 years$623$419$274$176$111$28
36 years$599$398$257$162$101$24
37 years$576$378$240$149$91$21
38 years$555$359$225$138$83$18
39 years$535$341$211$127$75$16
40 years$515$325$198$117$68$14
41 years$497$309$185$108$62$12
42 years$480$294$174$100$56$10
43 years$464$280$163$92$51$9
44 years$448$267$153$85$46$8
45 years$433$255$144$78$42$7
46 years$419$243$135$72$38$6
47 years$405$232$127$67$34$5
48 years$392$222$119$62$31$4
49 years$380$212$112$57$28$4
50 years$368$202$105$53$26$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $377,000, adding $5,638 every year, while hoping to spend $25,069 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: 68/21/11 Blend
55$377,000$377,000$377,000$377,000
56$421,270$401,289$395,445$448,554
57$437,566$394,279$382,019$460,403
58$454,684$386,085$367,304$469,822
59$472,682$376,623$351,228$479,470
60$491,621$365,803$333,720$489,363
61$511,570$353,531$314,704$499,523
62$532,603$339,707$294,099$509,976
63$554,800$324,224$271,823$520,748
64$578,249$306,971$247,788$531,871
65$603,046$287,828$221,904$543,380
66$629,296$266,670$194,077$555,316
67$657,112$243,365$164,206$567,723
68$686,619$217,772$132,190$580,653
69$717,955$189,743$97,918$594,162
70$751,268$159,122$61,280$608,316
71$786,721$125,743$22,157$623,187
72$824,494$89,431$0$638,857
73$864,781$50,002$0$657,717
74$907,797$7,261$0$680,495
75$953,778$0$0$704,718
76$1,002,981$0$0$739,542
77$1,055,687$0$0$778,659
78$1,112,207$0$0$820,621
79$1,172,881$0$0$865,684
80$1,238,081$0$0$914,125
81$1,308,217$0$0$966,253
82$1,383,738$0$0$1,022,402
83$1,465,138$0$0$1,082,942
84$1,552,959$0$0$1,148,280
85$1,647,797$0$0$1,218,861
86$1,750,305$0$0$1,295,175
87$1,861,204$0$0$1,377,761
88$1,981,285$0$0$1,467,210
89$2,111,416$0$0$1,564,174
90$2,252,553$0$0$1,669,369
91$2,405,749$0$0$1,783,582
92$2,572,159$0$0$1,907,678
93$2,753,055$0$0$2,042,611
94$2,949,836$0$0$2,189,427
95$3,164,041$0$0$2,349,281
96$3,397,366$0$0$2,523,441
97$3,651,673$0$0$2,713,302
98$3,929,014$0$0$2,920,403
99$4,231,648$0$0$3,146,433
100$4,562,059$0$0$3,393,256