Can I retire at age 56 with 429,000?

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 $429,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.9%
1 years$35,426$35,111$34,803$34,502$34,209$33,796
2 years$17,538$17,211$16,895$16,588$16,290$15,874
3 years$11,576$11,248$10,932$10,628$10,335$9,929
4 years$8,595$8,268$7,956$7,657$7,371$6,979
5 years$6,807$6,482$6,174$5,881$5,603$5,226
6 years$5,616$5,293$4,989$4,703$4,434$4,071
7 years$4,765$4,445$4,146$3,867$3,606$3,258
8 years$4,128$3,811$3,516$3,244$2,991$2,659
9 years$3,632$3,318$3,029$2,763$2,519$2,202
10 years$3,235$2,924$2,640$2,382$2,146$1,844
11 years$2,911$2,603$2,325$2,073$1,846$1,558
12 years$2,641$2,337$2,063$1,818$1,600$1,326
13 years$2,413$2,112$1,843$1,605$1,395$1,135
14 years$2,218$1,919$1,656$1,425$1,223$976
15 years$2,049$1,753$1,495$1,271$1,077$843
16 years$1,901$1,609$1,356$1,138$952$731
17 years$1,770$1,482$1,234$1,022$844$635
18 years$1,654$1,369$1,126$921$750$553
19 years$1,551$1,269$1,031$832$669$483
20 years$1,458$1,179$946$754$597$422
21 years$1,374$1,098$870$684$534$370
22 years$1,298$1,025$802$622$479$325
23 years$1,228$959$741$567$430$285
24 years$1,165$898$685$517$387$251
25 years$1,106$843$634$472$348$221
26 years$1,052$792$588$432$313$194
27 years$1,002$746$546$395$282$171
28 years$956$703$508$362$255$151
29 years$913$663$473$332$230$133
30 years$873$626$440$305$208$118
31 years$836$592$410$280$188$104
32 years$801$560$383$257$170$92
33 years$768$530$358$236$154$81
34 years$738$503$334$218$139$72
35 years$709$477$312$200$126$63
36 years$681$452$292$184$114$56
37 years$656$430$273$170$104$50
38 years$631$408$256$157$94$44
39 years$608$388$240$144$85$39
40 years$587$369$225$133$77$34
41 years$566$352$211$123$70$30
42 years$546$335$198$113$64$27
43 years$527$319$186$105$58$24
44 years$510$304$174$97$52$21
45 years$493$290$164$89$48$19
46 years$477$277$154$82$43$16
47 years$461$264$144$76$39$15
48 years$446$252$136$70$36$13
49 years$432$241$128$65$32$11
50 years$419$230$120$60$29$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $429,000, adding $5,093 every year, while hoping to spend $28,318 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: 39/50/11 Blend
55$429,000$429,000$429,000$429,000
56$478,011$455,274$448,625$494,876
57$496,638$447,453$433,524$499,467
58$516,216$438,299$416,968$501,262
59$536,812$427,717$398,878$502,574
60$558,499$415,607$379,172$503,371
61$581,356$401,862$357,765$503,623
62$605,470$386,369$334,566$503,296
63$630,936$369,009$309,481$502,359
64$657,856$349,655$282,413$500,778
65$686,342$328,173$253,259$498,519
66$716,518$304,422$221,912$495,550
67$748,516$278,253$188,260$491,836
68$782,485$249,507$152,186$487,345
69$818,583$218,018$113,570$482,043
70$856,987$183,608$72,282$475,900
71$897,887$146,093$28,191$468,886
72$941,493$105,274$0$460,970
73$988,037$60,943$0$454,340
74$1,037,769$12,881$0$450,435
75$1,090,965$0$0$445,937
76$1,147,929$0$0$462,386
77$1,208,992$0$0$487,654
78$1,274,519$0$0$514,810
79$1,344,909$0$0$544,024
80$1,420,602$0$0$575,484
81$1,502,078$0$0$609,397
82$1,589,866$0$0$645,987
83$1,684,549$0$0$685,505
84$1,786,763$0$0$728,222
85$1,897,210$0$0$774,440
86$2,016,662$0$0$824,488
87$2,145,964$0$0$878,729
88$2,286,048$0$0$937,562
89$2,437,939$0$0$1,001,426
90$2,602,762$0$0$1,070,804
91$2,781,756$0$0$1,146,226
92$2,976,283$0$0$1,228,276
93$3,187,841$0$0$1,317,598
94$3,418,080$0$0$1,414,897
95$3,668,813$0$0$1,520,952
96$3,942,037$0$0$1,636,619
97$4,239,948$0$0$1,762,841
98$4,564,965$0$0$1,900,656
99$4,919,748$0$0$2,051,204
100$5,307,227$0$0$2,215,744