Can I retire at age 56 with 453,000?

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 $453,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.3%
1 years$37,408$37,075$36,750$36,433$36,123$34,772
2 years$18,519$18,174$17,840$17,516$17,201$15,856
3 years$12,223$11,877$11,544$11,222$10,913$9,616
4 years$9,076$8,731$8,401$8,085$7,783$6,543
5 years$7,188$6,845$6,519$6,210$5,917$4,737
6 years$5,930$5,590$5,269$4,966$4,682$3,564
7 years$5,032$4,694$4,378$4,083$3,808$2,751
8 years$4,358$4,024$3,713$3,425$3,159$2,163
9 years$3,835$3,503$3,198$2,918$2,660$1,723
10 years$3,416$3,088$2,788$2,515$2,267$1,387
11 years$3,074$2,749$2,455$2,189$1,949$1,125
12 years$2,789$2,467$2,178$1,920$1,689$918
13 years$2,548$2,230$1,946$1,695$1,473$753
14 years$2,342$2,027$1,749$1,505$1,291$620
15 years$2,163$1,852$1,579$1,342$1,137$512
16 years$2,007$1,699$1,431$1,201$1,005$424
17 years$1,869$1,565$1,303$1,079$891$352
18 years$1,747$1,446$1,189$973$792$292
19 years$1,638$1,340$1,089$879$706$243
20 years$1,540$1,245$999$796$631$203
21 years$1,451$1,160$919$723$564$169
22 years$1,370$1,083$847$657$506$141
23 years$1,297$1,012$782$598$454$118
24 years$1,230$949$723$546$408$99
25 years$1,168$890$670$498$367$82
26 years$1,111$837$621$456$331$69
27 years$1,058$787$577$417$298$58
28 years$1,010$742$536$382$269$48
29 years$964$700$499$350$243$40
30 years$922$661$465$322$220$34
31 years$883$625$433$295$199$28
32 years$846$591$404$271$180$24
33 years$811$560$378$250$163$20
34 years$779$531$353$230$147$17
35 years$748$503$330$211$133$14
36 years$719$478$309$195$121$12
37 years$692$454$289$179$109$10
38 years$667$431$270$165$99$8
39 years$642$410$253$152$90$7
40 years$619$390$237$141$82$6
41 years$597$371$223$130$74$5
42 years$577$354$209$120$67$4
43 years$557$337$196$111$61$3
44 years$538$321$184$102$55$3
45 years$520$306$173$94$50$2
46 years$503$292$162$87$46$2
47 years$487$279$152$80$41$2
48 years$471$266$143$74$38$1
49 years$457$254$135$69$34$1
50 years$442$243$127$63$31$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $453,000, adding $6,333 every year, while hoping to spend $34,378 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: 60/27/13 Blend
55$453,000$453,000$453,000$453,000
56$505,738$481,729$474,708$534,099
57$520,746$468,756$454,033$540,966
58$536,132$453,995$431,513$544,024
59$551,899$437,322$407,050$546,534
60$568,048$418,607$380,541$548,446
61$584,580$397,709$351,880$549,706
62$601,493$374,483$320,955$550,259
63$618,786$348,774$287,648$550,043
64$636,456$320,417$251,837$548,992
65$654,496$289,239$213,395$547,038
66$672,899$255,057$172,189$544,105
67$691,657$217,676$128,079$540,114
68$710,756$176,893$80,920$534,979
69$730,183$132,491$30,561$528,610
70$749,920$84,241$0$520,909
71$769,946$31,903$0$514,986
72$790,236$0$0$512,249
73$810,760$0$0$515,720
74$831,486$0$0$528,782
75$852,373$0$0$541,932
76$873,377$0$0$555,137
77$894,447$0$0$568,365
78$915,523$0$0$581,575
79$936,539$0$0$594,722
80$957,419$0$0$607,755
81$978,078$0$0$620,618
82$998,418$0$0$633,245
83$1,018,331$0$0$645,564
84$1,037,695$0$0$657,493
85$1,056,372$0$0$668,941
86$1,074,208$0$0$679,803
87$1,091,031$0$0$689,967
88$1,106,648$0$0$699,304
89$1,120,845$0$0$707,670
90$1,133,382$0$0$714,906
91$1,143,991$0$0$720,834
92$1,152,374$0$0$725,257
93$1,158,202$0$0$727,954
94$1,161,104$0$0$728,681
95$1,160,673$0$0$727,166
96$1,156,453$0$0$723,107
97$1,147,941$0$0$716,171
98$1,134,577$0$0$705,985
99$1,115,741$0$0$692,138
100$1,090,744$0$0$674,174