Can I retire at age 56 with 390,000?

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 $390,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.2%
1 years$32,206$31,919$31,639$31,366$31,099$30,559
2 years$15,943$15,647$15,359$15,080$14,809$14,266
3 years$10,523$10,225$9,938$9,662$9,396$8,867
4 years$7,814$7,517$7,232$6,961$6,701$6,192
5 years$6,189$5,893$5,613$5,347$5,094$4,605
6 years$5,105$4,812$4,536$4,276$4,031$3,562
7 years$4,332$4,041$3,769$3,515$3,278$2,830
8 years$3,752$3,464$3,197$2,949$2,719$2,292
9 years$3,302$3,016$2,753$2,512$2,290$1,884
10 years$2,941$2,659$2,400$2,165$1,951$1,565
11 years$2,647$2,367$2,113$1,884$1,678$1,312
12 years$2,401$2,124$1,875$1,653$1,454$1,107
13 years$2,194$1,920$1,676$1,459$1,268$939
14 years$2,016$1,745$1,506$1,295$1,112$801
15 years$1,862$1,594$1,359$1,155$979$686
16 years$1,728$1,463$1,232$1,034$865$589
17 years$1,609$1,347$1,121$929$767$507
18 years$1,504$1,245$1,024$838$682$438
19 years$1,410$1,154$937$757$608$379
20 years$1,325$1,072$860$685$543$328
21 years$1,249$998$791$622$486$284
22 years$1,180$932$729$566$436$247
23 years$1,117$872$673$515$391$215
24 years$1,059$817$623$470$351$187
25 years$1,005$766$577$429$316$163
26 years$956$720$535$392$285$142
27 years$911$678$497$359$257$124
28 years$869$639$462$329$232$108
29 years$830$603$430$302$209$94
30 years$794$569$400$277$189$82
31 years$760$538$373$254$171$72
32 years$728$509$348$234$155$63
33 years$698$482$325$215$140$55
34 years$670$457$304$198$127$48
35 years$644$433$284$182$115$42
36 years$619$411$266$168$104$37
37 years$596$391$249$154$94$32
38 years$574$371$233$142$85$28
39 years$553$353$218$131$77$25
40 years$533$336$204$121$70$22
41 years$514$320$192$112$64$19
42 years$497$305$180$103$58$16
43 years$480$290$169$95$52$14
44 years$463$277$158$88$48$13
45 years$448$264$149$81$43$11
46 years$433$252$140$75$39$10
47 years$419$240$131$69$36$8
48 years$406$229$123$64$32$7
49 years$393$219$116$59$29$6
50 years$381$209$109$55$27$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $390,000, adding $5,568 every year, while hoping to spend $25,165 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: 84/5/11 Blend
55$390,000$390,000$390,000$390,000
56$435,523$414,853$408,808$470,862
57$453,171$408,406$395,728$488,359
58$471,776$400,799$381,366$503,627
59$491,408$391,949$365,653$519,630
60$512,146$381,769$348,516$536,426
61$534,073$370,163$329,880$554,081
62$557,282$357,035$309,664$572,666
63$581,873$342,278$287,786$592,259
64$607,957$325,782$264,160$612,946
65$635,653$307,430$238,694$634,822
66$665,093$287,098$211,294$657,992
67$696,421$264,654$181,861$682,571
68$729,795$239,961$150,291$708,686
69$765,386$212,871$116,478$736,476
70$803,384$183,230$80,309$766,096
71$843,995$150,875$41,666$797,715
72$887,447$115,632$426$831,520
73$933,988$77,319$0$867,717
74$983,890$35,744$0$911,650
75$1,037,454$0$0$958,839
76$1,095,007$0$0$1,010,039
77$1,156,911$0$0$1,067,229
78$1,223,560$0$0$1,128,808
79$1,295,389$0$0$1,195,179
80$1,372,877$0$0$1,266,784
81$1,456,547$0$0$1,344,107
82$1,546,976$0$0$1,427,684
83$1,644,797$0$0$1,518,099
84$1,750,707$0$0$1,615,997
85$1,865,472$0$0$1,722,088
86$1,989,932$0$0$1,837,149
87$2,125,014$0$0$1,962,037
88$2,271,736$0$0$2,097,696
89$2,431,217$0$0$2,245,161
90$2,604,691$0$0$2,405,572
91$2,793,511$0$0$2,580,185
92$2,999,170$0$0$2,770,380
93$3,223,309$0$0$2,977,675
94$3,467,734$0$0$3,203,743
95$3,734,434$0$0$3,450,424
96$4,025,596$0$0$3,719,743
97$4,343,629$0$0$4,013,930
98$4,691,186$0$0$4,335,440
99$5,071,185$0$0$4,686,974
100$5,486,842$0$0$5,071,508