Can I retire at age 56 with 418,000?

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 $418,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.7%
1 years$34,518$34,211$33,911$33,618$33,332$32,162
2 years$17,088$16,770$16,461$16,162$15,872$14,706
3 years$11,279$10,959$10,652$10,355$10,070$8,944
4 years$8,375$8,056$7,752$7,460$7,182$6,105
5 years$6,633$6,316$6,016$5,730$5,460$4,434
6 years$5,472$5,158$4,862$4,583$4,320$3,347
7 years$4,643$4,331$4,040$3,768$3,513$2,592
8 years$4,022$3,713$3,426$3,161$2,915$2,045
9 years$3,539$3,233$2,951$2,692$2,455$1,635
10 years$3,152$2,849$2,573$2,321$2,091$1,321
11 years$2,837$2,537$2,265$2,020$1,799$1,076
12 years$2,574$2,277$2,010$1,771$1,559$881
13 years$2,351$2,058$1,796$1,564$1,359$726
14 years$2,161$1,870$1,614$1,388$1,191$600
15 years$1,996$1,709$1,457$1,238$1,049$498
16 years$1,852$1,568$1,321$1,109$927$414
17 years$1,725$1,444$1,202$996$822$345
18 years$1,612$1,334$1,097$898$731$288
19 years$1,511$1,236$1,004$811$652$241
20 years$1,421$1,149$922$735$582$202
21 years$1,339$1,070$848$667$521$169
22 years$1,264$999$781$606$467$142
23 years$1,197$934$722$552$419$119
24 years$1,135$875$667$504$377$100
25 years$1,078$821$618$460$339$84
26 years$1,025$772$573$420$305$71
27 years$977$727$532$385$275$59
28 years$932$685$495$353$248$50
29 years$890$646$460$323$224$42
30 years$851$610$429$297$203$35
31 years$814$577$400$273$183$30
32 years$780$546$373$250$166$25
33 years$749$517$348$230$150$21
34 years$719$490$325$212$136$18
35 years$690$464$304$195$123$15
36 years$664$441$285$180$111$13
37 years$639$419$266$166$101$11
38 years$615$398$250$153$92$9
39 years$593$378$234$141$83$8
40 years$571$360$219$130$75$6
41 years$551$343$205$120$68$5
42 years$532$326$193$110$62$4
43 years$514$311$181$102$56$4
44 years$497$296$170$94$51$3
45 years$480$283$159$87$46$3
46 years$464$270$150$80$42$2
47 years$449$257$141$74$38$2
48 years$435$246$132$69$35$2
49 years$421$235$124$63$32$1
50 years$408$224$117$59$29$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $418,000, adding $5,794 every year, while hoping to spend $26,814 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: 36/48/16 Blend
55$418,000$418,000$418,000$418,000
56$466,613$444,459$437,980$480,940
57$485,677$437,707$424,122$485,076
58$505,788$429,726$408,901$486,578
59$527,022$420,427$392,244$487,627
60$549,467$409,716$374,072$488,196
61$573,214$397,494$354,306$488,259
62$598,367$383,656$332,860$487,790
63$625,035$368,090$309,645$486,762
64$653,341$350,679$284,571$485,150
65$683,418$331,299$257,540$482,927
66$715,411$309,816$228,452$480,068
67$749,479$286,094$197,201$476,548
68$785,797$259,983$163,678$472,346
69$824,555$231,329$127,768$467,439
70$865,962$199,966$89,351$461,808
71$910,248$165,723$48,302$455,435
72$957,663$128,413$4,491$448,306
73$1,008,485$87,845$0$440,410
74$1,063,013$43,813$0$438,957
75$1,121,581$0$0$438,016
76$1,184,553$0$0$438,909
77$1,252,327$0$0$464,819
78$1,325,344$0$0$492,778
79$1,404,084$0$0$522,976
80$1,489,078$0$0$555,622
81$1,580,907$0$0$590,946
82$1,680,211$0$0$629,201
83$1,787,693$0$0$670,664
84$1,904,124$0$0$715,640
85$2,030,356$0$0$764,467
86$2,167,322$0$0$817,512
87$2,316,049$0$0$875,182
88$2,477,667$0$0$937,924
89$2,653,421$0$0$1,006,231
90$2,844,676$0$0$1,080,643
91$3,052,939$0$0$1,161,757
92$3,279,864$0$0$1,250,226
93$3,527,276$0$0$1,346,774
94$3,797,178$0$0$1,452,194
95$4,091,779$0$0$1,567,360
96$4,413,509$0$0$1,693,235
97$4,765,044$0$0$1,830,878
98$5,149,327$0$0$1,981,457
99$5,569,602$0$0$2,146,255
100$6,029,440$0$0$2,326,687