Can I retire at age 56 with 357,000?

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 $357,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.7%
1 years$29,481$29,218$28,962$28,712$28,468$27,916
2 years$14,594$14,323$14,059$13,804$13,556$13,002
3 years$9,633$9,360$9,097$8,844$8,601$8,062
4 years$7,153$6,881$6,620$6,372$6,134$5,615
5 years$5,665$5,394$5,138$4,894$4,663$4,165
6 years$4,673$4,405$4,152$3,914$3,690$3,213
7 years$3,966$3,699$3,450$3,218$3,001$2,546
8 years$3,435$3,171$2,926$2,699$2,489$2,056
9 years$3,022$2,761$2,520$2,299$2,096$1,684
10 years$2,692$2,434$2,197$1,982$1,786$1,395
11 years$2,423$2,166$1,934$1,725$1,536$1,166
12 years$2,198$1,945$1,717$1,513$1,331$981
13 years$2,008$1,757$1,534$1,336$1,161$829
14 years$1,846$1,597$1,378$1,186$1,018$705
15 years$1,705$1,459$1,244$1,057$896$601
16 years$1,582$1,339$1,128$947$792$515
17 years$1,473$1,233$1,027$851$702$442
18 years$1,377$1,139$937$767$624$380
19 years$1,291$1,056$858$693$556$327
20 years$1,213$981$787$627$497$282
21 years$1,143$914$724$569$445$244
22 years$1,080$853$667$518$399$211
23 years$1,022$798$616$472$358$183
24 years$969$748$570$430$322$159
25 years$920$702$528$393$289$138
26 years$876$659$490$359$261$119
27 years$834$621$455$329$235$104
28 years$796$585$423$301$212$90
29 years$760$552$393$276$192$78
30 years$727$521$366$253$173$68
31 years$696$492$342$233$156$59
32 years$667$466$319$214$142$52
33 years$639$441$298$197$128$45
34 years$614$418$278$181$116$39
35 years$590$397$260$167$105$34
36 years$567$377$243$153$95$30
37 years$546$358$228$141$86$26
38 years$525$340$213$130$78$22
39 years$506$323$200$120$71$20
40 years$488$307$187$111$64$17
41 years$471$293$175$102$58$15
42 years$455$279$165$94$53$13
43 years$439$266$154$87$48$11
44 years$424$253$145$80$44$10
45 years$410$241$136$74$40$9
46 years$397$230$128$69$36$7
47 years$384$220$120$63$33$7
48 years$372$210$113$59$30$6
49 years$360$200$106$54$27$5
50 years$349$191$100$50$24$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $357,000, adding $2,147 every year, while hoping to spend $20,942 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: 69/14/17 Blend
55$357,000$357,000$357,000$357,000
56$395,629$376,708$371,174$421,181
57$413,701$372,884$361,326$434,663
58$432,914$368,171$350,447$446,727
59$453,363$362,504$338,479$459,401
60$475,152$355,812$325,363$472,743
61$498,392$348,021$311,037$486,817
62$523,208$339,055$295,437$501,695
63$549,736$328,829$278,495$517,456
64$578,124$317,257$260,140$534,188
65$608,536$304,246$240,298$551,988
66$641,150$289,697$218,892$570,964
67$676,163$273,508$195,840$591,237
68$713,791$255,569$171,059$612,939
69$754,269$235,763$144,461$636,217
70$797,857$213,968$115,954$661,236
71$844,841$190,055$85,441$688,176
72$895,534$163,887$52,822$717,238
73$950,280$135,319$17,993$748,643
74$1,009,457$104,198$0$782,639
75$1,073,481$70,363$0$822,975
76$1,142,809$33,644$0$870,184
77$1,217,943$0$0$921,354
78$1,299,435$0$0$977,824
79$1,387,894$0$0$1,044,763
80$1,483,986$0$0$1,117,498
81$1,588,448$0$0$1,196,585
82$1,702,088$0$0$1,282,640
83$1,825,794$0$0$1,376,339
84$1,960,546$0$0$1,478,425
85$2,107,422$0$0$1,589,718
86$2,267,606$0$0$1,711,118
87$2,442,404$0$0$1,843,617
88$2,633,252$0$0$1,988,307
89$2,841,730$0$0$2,146,390
90$3,069,579$0$0$2,319,189
91$3,318,716$0$0$2,508,159
92$3,591,250$0$0$2,714,906
93$3,889,504$0$0$2,941,194
94$4,216,037$0$0$3,188,969
95$4,573,664$0$0$3,460,372
96$4,965,489$0$0$3,757,762
97$5,394,927$0$0$4,083,734
98$5,865,741$0$0$4,441,150
99$6,382,075$0$0$4,833,160
100$6,948,493$0$0$5,263,234