Can I retire at age 56 with 417,000?

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 $417,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17%
1 years$34,435$34,129$33,829$33,537$33,252$32,304
2 years$17,047$16,730$16,422$16,124$15,834$14,887
3 years$11,252$10,933$10,626$10,331$10,046$9,128
4 years$8,355$8,037$7,733$7,443$7,165$6,284
5 years$6,617$6,301$6,001$5,717$5,447$4,605
6 years$5,459$5,145$4,850$4,572$4,310$3,509
7 years$4,632$4,321$4,030$3,759$3,505$2,744
8 years$4,012$3,704$3,418$3,153$2,908$2,187
9 years$3,530$3,225$2,944$2,686$2,449$1,767
10 years$3,145$2,843$2,567$2,315$2,086$1,443
11 years$2,830$2,531$2,260$2,015$1,794$1,188
12 years$2,567$2,271$2,005$1,767$1,555$984
13 years$2,346$2,053$1,792$1,560$1,356$820
14 years$2,156$1,866$1,610$1,385$1,189$686
15 years$1,991$1,704$1,453$1,235$1,047$576
16 years$1,847$1,564$1,318$1,106$925$485
17 years$1,721$1,440$1,199$994$820$409
18 years$1,608$1,331$1,095$896$729$346
19 years$1,508$1,233$1,002$809$650$293
20 years$1,417$1,146$920$733$581$248
21 years$1,336$1,068$846$665$520$211
22 years$1,261$997$780$605$466$179
23 years$1,194$932$720$551$418$153
24 years$1,132$873$666$502$376$130
25 years$1,075$819$617$459$338$111
26 years$1,023$770$572$419$305$94
27 years$974$725$531$384$275$80
28 years$929$683$494$352$248$69
29 years$888$644$459$323$224$58
30 years$849$609$428$296$202$50
31 years$813$575$399$272$183$43
32 years$779$544$372$250$165$36
33 years$747$515$348$230$150$31
34 years$717$489$325$211$135$27
35 years$689$463$304$195$123$23
36 years$662$440$284$179$111$19
37 years$637$418$266$165$101$17
38 years$614$397$249$152$91$14
39 years$591$377$233$140$83$12
40 years$570$359$219$129$75$10
41 years$550$342$205$119$68$9
42 years$531$326$192$110$62$8
43 years$513$310$180$102$56$6
44 years$495$296$169$94$51$5
45 years$479$282$159$87$46$5
46 years$463$269$149$80$42$4
47 years$448$257$140$74$38$3
48 years$434$245$132$68$35$3
49 years$420$234$124$63$31$3
50 years$407$224$117$58$29$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $417,000, adding $2,782 every year, while hoping to spend $26,970 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: 51/25/24 Blend
55$417,000$417,000$417,000$417,000
56$462,404$440,303$433,839$482,751
57$480,873$433,182$419,677$490,034
58$500,322$424,808$404,136$494,979
59$520,823$415,091$387,143$499,805
60$542,453$403,937$368,618$504,511
61$565,297$391,243$348,481$509,098
62$589,448$376,905$326,645$513,569
63$615,007$360,809$303,023$517,929
64$642,084$342,835$277,521$522,187
65$670,800$322,857$250,041$526,352
66$701,286$300,741$220,482$530,438
67$733,687$276,348$188,738$534,463
68$768,160$249,526$154,698$538,450
69$804,879$220,118$118,246$542,424
70$844,030$187,959$79,262$546,420
71$885,823$152,870$37,619$550,475
72$930,483$114,667$0$554,635
73$978,259$73,152$0$560,703
74$1,029,424$28,119$0$577,387
75$1,084,276$0$0$595,156
76$1,143,143$0$0$619,813
77$1,206,385$0$0$654,642
78$1,274,397$0$0$692,130
79$1,347,612$0$0$732,519
80$1,426,507$0$0$776,077
81$1,511,604$0$0$823,095
82$1,603,479$0$0$873,897
83$1,702,762$0$0$928,837
84$1,810,148$0$0$988,303
85$1,926,399$0$0$1,052,723
86$2,052,353$0$0$1,122,569
87$2,188,932$0$0$1,198,356
88$2,337,150$0$0$1,280,654
89$2,498,123$0$0$1,370,088
90$2,673,076$0$0$1,467,347
91$2,863,359$0$0$1,573,188
92$3,070,456$0$0$1,688,445
93$3,296,001$0$0$1,814,033
94$3,541,790$0$0$1,950,962
95$3,809,803$0$0$2,100,344
96$4,102,215$0$0$2,263,399
97$4,421,423$0$0$2,441,473
98$4,770,065$0$0$2,636,048
99$5,151,045$0$0$2,848,754
100$5,567,560$0$0$3,081,387