Can I retire at age 56 with 422,000?

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 $422,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.5%
1 years$34,848$34,538$34,235$33,940$33,651$33,025
2 years$17,252$16,930$16,619$16,317$16,024$15,396
3 years$11,387$11,064$10,754$10,455$10,166$9,556
4 years$8,455$8,133$7,826$7,532$7,251$6,662
5 years$6,696$6,377$6,073$5,785$5,512$4,947
6 years$5,524$5,207$4,908$4,626$4,361$3,821
7 years$4,688$4,373$4,079$3,804$3,547$3,031
8 years$4,060$3,748$3,459$3,191$2,943$2,450
9 years$3,572$3,264$2,979$2,718$2,478$2,010
10 years$3,183$2,877$2,597$2,343$2,111$1,667
11 years$2,864$2,561$2,287$2,039$1,816$1,394
12 years$2,598$2,299$2,029$1,788$1,574$1,174
13 years$2,374$2,077$1,813$1,579$1,372$995
14 years$2,182$1,888$1,629$1,402$1,203$847
15 years$2,015$1,725$1,471$1,250$1,059$723
16 years$1,870$1,583$1,334$1,119$936$620
17 years$1,741$1,457$1,213$1,006$830$532
18 years$1,627$1,347$1,108$906$738$459
19 years$1,526$1,248$1,014$819$658$396
20 years$1,434$1,160$931$742$588$342
21 years$1,352$1,080$856$673$526$296
22 years$1,277$1,008$789$612$471$257
23 years$1,208$943$728$557$423$223
24 years$1,146$884$674$508$380$193
25 years$1,088$829$624$464$342$168
26 years$1,035$779$579$424$308$146
27 years$986$734$537$389$278$127
28 years$941$691$500$356$251$111
29 years$898$652$465$326$226$96
30 years$859$616$433$300$205$84
31 years$822$582$404$275$185$73
32 years$788$551$377$253$167$64
33 years$756$522$352$233$151$56
34 years$725$494$329$214$137$48
35 years$697$469$307$197$124$42
36 years$670$445$287$181$112$37
37 years$645$423$269$167$102$32
38 years$621$402$252$154$92$28
39 years$598$382$236$142$84$24
40 years$577$363$221$131$76$21
41 years$557$346$207$121$69$19
42 years$537$329$195$112$63$16
43 years$519$314$183$103$57$14
44 years$501$299$171$95$52$12
45 years$485$285$161$88$47$11
46 years$469$272$151$81$42$9
47 years$454$260$142$75$39$8
48 years$439$248$133$69$35$7
49 years$425$237$125$64$32$6
50 years$412$226$118$59$29$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $422,000, adding $6,798 every year, while hoping to spend $34,658 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: 26/44/30 Blend
55$422,000$422,000$422,000$422,000
56$472,056$449,690$443,149$479,803
57$483,330$434,849$421,119$471,904
58$494,592$418,119$397,189$460,057
59$505,805$399,372$371,259$446,647
60$516,926$378,469$343,225$431,565
61$527,906$355,268$312,976$414,698
62$538,691$329,615$280,400$395,924
63$549,219$301,348$245,375$375,113
64$559,423$270,297$207,778$352,129
65$569,223$236,281$167,479$326,826
66$578,535$199,110$124,340$299,049
67$587,261$158,582$78,221$268,633
68$595,294$114,484$28,973$235,403
69$602,511$66,591$0$199,173
70$608,780$14,667$0$167,294
71$613,949$0$0$142,394
72$617,853$0$0$135,132
73$620,305$0$0$134,515
74$621,099$0$0$133,381
75$620,006$0$0$131,664
76$616,772$0$0$129,289
77$611,114$0$0$126,174
78$602,719$0$0$122,228
79$591,240$0$0$117,349
80$576,291$0$0$111,426
81$557,448$0$0$104,336
82$534,237$0$0$95,941
83$506,136$0$0$86,090
84$472,568$0$0$74,616
85$432,892$0$0$61,333
86$386,400$0$0$46,037
87$332,312$0$0$28,502
88$269,761$0$0$8,479
89$197,791$0$0$0
90$115,347$0$0$0
91$21,261$0$0$0
92$0$0$0$0
93$0$0$0$0
94$0$0$0$0
95$0$0$0$0
96$0$0$0$0
97$0$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0