Can I retire at age 56 with 423,000?

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 $423,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.9%
1 years$34,931$34,620$34,316$34,020$33,731$32,521
2 years$17,293$16,970$16,658$16,356$16,062$14,857
3 years$11,414$11,090$10,779$10,479$10,191$9,027
4 years$8,475$8,153$7,844$7,550$7,268$6,155
5 years$6,712$6,392$6,088$5,799$5,525$4,466
6 years$5,537$5,219$4,920$4,637$4,372$3,367
7 years$4,699$4,383$4,088$3,813$3,555$2,605
8 years$4,070$3,757$3,467$3,198$2,950$2,053
9 years$3,581$3,271$2,986$2,724$2,484$1,639
10 years$3,190$2,884$2,604$2,348$2,116$1,323
11 years$2,871$2,567$2,292$2,044$1,820$1,076
12 years$2,604$2,304$2,034$1,793$1,577$880
13 years$2,379$2,082$1,817$1,583$1,375$724
14 years$2,187$1,893$1,633$1,405$1,206$598
15 years$2,020$1,729$1,474$1,253$1,062$495
16 years$1,874$1,586$1,337$1,122$938$411
17 years$1,745$1,461$1,216$1,008$832$342
18 years$1,631$1,350$1,110$908$740$285
19 years$1,529$1,251$1,016$821$659$238
20 years$1,438$1,163$933$743$589$199
21 years$1,355$1,083$858$675$527$166
22 years$1,280$1,011$791$613$472$139
23 years$1,211$945$730$559$424$117
24 years$1,148$886$675$510$381$98
25 years$1,091$831$625$465$343$82
26 years$1,037$781$580$425$309$69
27 years$988$735$539$389$279$58
28 years$943$693$501$357$251$49
29 years$900$654$466$327$227$41
30 years$861$617$434$300$205$34
31 years$824$584$405$276$185$29
32 years$790$552$378$253$168$24
33 years$758$523$353$233$152$20
34 years$727$496$329$214$137$17
35 years$699$470$308$197$124$14
36 years$672$446$288$182$113$12
37 years$646$424$270$168$102$10
38 years$622$403$253$154$93$9
39 years$600$383$237$142$84$7
40 years$578$364$222$131$76$6
41 years$558$347$208$121$69$5
42 years$539$330$195$112$63$4
43 years$520$315$183$103$57$4
44 years$503$300$172$95$52$3
45 years$486$286$161$88$47$3
46 years$470$273$152$81$43$2
47 years$455$260$142$75$39$2
48 years$440$249$134$69$35$2
49 years$426$237$126$64$32$1
50 years$413$227$118$59$29$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $423,000, adding $4,410 every year, while hoping to spend $33,409 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: 78/7/15 Blend
55$423,000$423,000$423,000$423,000
56$470,695$448,276$441,719$505,585
57$483,159$434,695$420,970$515,613
58$495,774$419,328$398,406$521,929
59$508,522$402,053$373,931$527,925
60$521,378$382,741$347,445$533,557
61$534,317$361,253$318,842$538,774
62$547,307$337,445$288,014$543,525
63$560,316$311,163$254,845$547,749
64$573,302$282,244$219,216$551,384
65$586,222$250,517$181,003$554,358
66$599,024$215,800$140,075$556,594
67$611,652$177,902$96,295$558,010
68$624,042$136,620$49,521$558,511
69$636,120$91,740$0$557,998
70$647,805$43,036$0$556,422
71$659,006$0$0$562,064
72$669,622$0$0$567,631
73$679,537$0$0$575,903
74$688,625$0$0$583,456
75$696,742$0$0$590,167
76$703,731$0$0$595,899
77$709,413$0$0$600,501
78$713,594$0$0$603,801
79$716,053$0$0$605,613
80$716,547$0$0$605,728
81$714,807$0$0$603,911
82$710,533$0$0$599,906
83$703,391$0$0$593,425
84$693,012$0$0$584,152
85$678,988$0$0$571,734
86$660,866$0$0$555,782
87$638,142$0$0$535,863
88$610,261$0$0$511,499
89$576,608$0$0$482,161
90$536,502$0$0$447,263
91$489,188$0$0$406,157
92$433,835$0$0$358,126
93$369,520$0$0$302,378
94$295,225$0$0$238,036
95$209,824$0$0$164,134
96$112,074$0$0$79,601
97$600$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0