Can I retire at age 56 with 393,000?

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 $393,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.9%
1 years$32,454$32,164$31,882$31,607$31,338$30,960
2 years$16,066$15,767$15,477$15,196$14,923$14,542
3 years$10,604$10,304$10,015$9,736$9,468$9,096
4 years$7,874$7,574$7,288$7,014$6,753$6,393
5 years$6,236$5,938$5,656$5,388$5,133$4,787
6 years$5,145$4,849$4,571$4,309$4,062$3,729
7 years$4,365$4,072$3,798$3,542$3,303$2,985
8 years$3,781$3,491$3,221$2,972$2,740$2,436
9 years$3,327$3,039$2,774$2,531$2,308$2,017
10 years$2,964$2,679$2,419$2,182$1,966$1,689
11 years$2,667$2,385$2,130$1,899$1,691$1,427
12 years$2,420$2,141$1,890$1,666$1,465$1,214
13 years$2,211$1,934$1,688$1,470$1,278$1,040
14 years$2,032$1,758$1,517$1,305$1,120$894
15 years$1,877$1,606$1,370$1,164$986$772
16 years$1,741$1,474$1,242$1,042$872$669
17 years$1,622$1,357$1,130$937$773$582
18 years$1,516$1,254$1,032$844$687$507
19 years$1,421$1,162$944$763$613$442
20 years$1,336$1,080$867$691$547$387
21 years$1,259$1,006$797$627$490$339
22 years$1,189$939$735$570$439$297
23 years$1,125$878$678$519$394$261
24 years$1,067$823$627$473$354$230
25 years$1,013$772$581$432$319$202
26 years$964$726$539$395$287$178
27 years$918$683$500$362$259$157
28 years$876$644$465$332$234$138
29 years$837$607$433$304$211$122
30 years$800$573$403$279$191$108
31 years$766$542$376$256$172$95
32 years$734$513$351$235$156$84
33 years$704$486$328$217$141$74
34 years$676$460$306$199$128$66
35 years$649$437$286$183$116$58
36 years$624$414$268$169$105$51
37 years$601$394$251$156$95$45
38 years$578$374$235$143$86$40
39 years$557$356$220$132$78$35
40 years$537$338$206$122$71$31
41 years$518$322$193$113$64$28
42 years$500$307$181$104$58$25
43 years$483$292$170$96$53$22
44 years$467$279$160$89$48$19
45 years$451$266$150$82$44$17
46 years$437$254$141$76$40$15
47 years$422$242$132$70$36$13
48 years$409$231$124$64$33$12
49 years$396$221$117$60$30$10
50 years$384$211$110$55$27$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $393,000, adding $3,804 every year, while hoping to spend $20,509 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: 61/23/16 Blend
55$393,000$393,000$393,000$393,000
56$437,010$416,181$410,089$461,682
57$459,763$414,752$402,006$477,326
58$484,150$412,566$392,964$491,751
59$510,316$409,564$382,911$507,009
60$538,419$405,684$371,789$523,183
61$568,634$400,859$359,540$540,364
62$601,153$395,019$346,103$558,654
63$636,186$388,091$331,413$578,167
64$673,965$379,995$315,403$599,027
65$714,743$370,648$298,003$621,374
66$758,799$359,962$279,139$645,361
67$806,441$347,844$258,734$671,161
68$858,005$334,195$236,708$698,961
69$913,861$318,911$212,978$728,974
70$974,417$301,880$187,455$761,430
71$1,040,122$282,986$160,048$796,588
72$1,111,467$262,105$130,663$834,734
73$1,188,994$239,106$99,198$876,184
74$1,273,301$213,851$65,550$921,289
75$1,365,042$186,195$29,611$970,435
76$1,464,940$155,981$0$1,024,053
77$1,573,788$123,049$0$1,084,109
78$1,692,460$87,224$0$1,155,129
79$1,821,918$48,326$0$1,232,655
80$1,963,222$6,161$0$1,317,351
81$2,117,535$0$0$1,409,952
82$2,286,142$0$0$1,521,259
83$2,470,454$0$0$1,644,668
84$2,672,026$0$0$1,779,665
85$2,892,570$0$0$1,927,398
86$3,133,972$0$0$2,089,137
87$3,398,308$0$0$2,266,274
88$3,687,862$0$0$2,460,347
89$4,005,154$0$0$2,673,048
90$4,352,954$0$0$2,906,238
91$4,734,318$0$0$3,161,972
92$5,152,607$0$0$3,442,507
93$5,611,527$0$0$3,750,335
94$6,115,157$0$0$4,088,198
95$6,667,992$0$0$4,459,114
96$7,274,983$0$0$4,866,413
97$7,941,582$0$0$5,313,760
98$8,673,798$0$0$5,805,191
99$9,478,249$0$0$6,345,155
100$10,362,224$0$0$6,938,552