Can I retire at age 56 with 428,000?

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 $428,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.1%
1 years$35,344$35,029$34,722$34,422$34,129$33,277
2 years$17,497$17,171$16,855$16,549$16,252$15,399
3 years$11,549$11,221$10,906$10,603$10,311$9,484
4 years$8,575$8,249$7,937$7,639$7,354$6,559
5 years$6,792$6,467$6,160$5,867$5,590$4,829
6 years$5,603$5,281$4,978$4,692$4,423$3,697
7 years$4,754$4,435$4,137$3,858$3,597$2,907
8 years$4,118$3,802$3,508$3,236$2,984$2,328
9 years$3,623$3,310$3,022$2,757$2,513$1,891
10 years$3,228$2,918$2,634$2,376$2,141$1,553
11 years$2,904$2,597$2,319$2,068$1,842$1,286
12 years$2,635$2,331$2,058$1,814$1,596$1,072
13 years$2,408$2,107$1,839$1,601$1,392$898
14 years$2,213$1,915$1,652$1,422$1,220$756
15 years$2,044$1,749$1,492$1,268$1,074$639
16 years$1,896$1,605$1,352$1,135$949$541
17 years$1,766$1,478$1,231$1,020$842$460
18 years$1,651$1,366$1,123$919$748$391
19 years$1,547$1,266$1,028$831$667$334
20 years$1,455$1,176$944$752$596$285
21 years$1,371$1,096$868$683$533$244
22 years$1,295$1,023$800$621$478$209
23 years$1,225$957$739$565$429$179
24 years$1,162$896$683$516$386$153
25 years$1,103$841$633$471$347$131
26 years$1,050$791$587$431$313$113
27 years$1,000$744$545$394$282$97
28 years$954$701$507$361$254$83
29 years$911$661$472$331$230$72
30 years$871$625$439$304$207$62
31 years$834$590$409$279$188$53
32 years$799$559$382$256$170$46
33 years$766$529$357$236$154$39
34 years$736$501$333$217$139$34
35 years$707$476$312$200$126$29
36 years$680$451$291$184$114$25
37 years$654$429$273$170$103$21
38 years$630$407$255$156$94$18
39 years$607$387$239$144$85$16
40 years$585$369$224$133$77$14
41 years$565$351$210$123$70$12
42 years$545$334$197$113$63$10
43 years$526$318$185$104$58$9
44 years$509$304$174$96$52$8
45 years$492$289$163$89$47$6
46 years$475$276$153$82$43$6
47 years$460$263$144$76$39$5
48 years$445$252$135$70$36$4
49 years$431$240$127$65$32$4
50 years$418$229$120$60$29$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $428,000, adding $4,875 every year, while hoping to spend $31,870 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: 39/31/30 Blend
55$428,000$428,000$428,000$428,000
56$476,685$454,001$447,367$490,885
57$491,397$442,337$428,444$490,080
58$506,542$429,034$407,819$485,938
59$522,130$413,977$385,402$480,862
60$538,171$397,046$361,097$474,789
61$554,676$378,114$334,805$467,650
62$571,656$357,044$306,424$459,375
63$589,120$333,694$275,844$449,887
64$607,079$307,914$242,954$439,108
65$625,543$279,543$207,634$426,953
66$644,521$248,413$169,763$413,333
67$664,022$214,346$129,210$398,155
68$684,057$177,153$85,843$381,319
69$704,632$136,635$39,520$362,721
70$725,756$92,582$0$342,251
71$747,437$44,772$0$322,966
72$769,679$0$0$315,276
73$792,490$0$0$308,837
74$815,873$0$0$317,886
75$839,832$0$0$327,151
76$864,367$0$0$336,632
77$889,479$0$0$346,326
78$915,167$0$0$356,234
79$941,427$0$0$366,351
80$968,251$0$0$376,675
81$995,632$0$0$387,200
82$1,023,557$0$0$397,919
83$1,052,011$0$0$408,826
84$1,080,975$0$0$419,910
85$1,110,425$0$0$431,160
86$1,140,334$0$0$442,563
87$1,170,668$0$0$454,102
88$1,201,388$0$0$465,761
89$1,232,448$0$0$477,516
90$1,263,793$0$0$489,345
91$1,295,364$0$0$501,219
92$1,327,089$0$0$513,105
93$1,358,887$0$0$524,968
94$1,390,666$0$0$536,766
95$1,422,322$0$0$548,452
96$1,453,735$0$0$559,973
97$1,484,773$0$0$571,271
98$1,515,283$0$0$582,277
99$1,545,095$0$0$592,918
100$1,574,019$0$0$603,108