Can I retire at age 56 with 379,000?

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 $379,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.2%
1 years$31,297$31,019$30,747$30,481$30,222$29,456
2 years$15,494$15,205$14,926$14,654$14,391$13,624
3 years$10,227$9,937$9,658$9,389$9,131$8,387
4 years$7,594$7,305$7,028$6,764$6,512$5,797
5 years$6,014$5,727$5,454$5,196$4,950$4,266
6 years$4,961$4,676$4,408$4,155$3,917$3,265
7 years$4,210$3,927$3,663$3,416$3,186$2,565
8 years$3,646$3,366$3,107$2,866$2,643$2,053
9 years$3,208$2,931$2,676$2,441$2,226$1,667
10 years$2,858$2,584$2,333$2,104$1,896$1,368
11 years$2,572$2,300$2,054$1,831$1,631$1,132
12 years$2,334$2,064$1,823$1,606$1,413$943
13 years$2,132$1,866$1,628$1,418$1,232$790
14 years$1,959$1,696$1,463$1,259$1,080$664
15 years$1,810$1,549$1,321$1,123$951$561
16 years$1,679$1,421$1,198$1,005$841$475
17 years$1,564$1,309$1,090$903$745$403
18 years$1,462$1,210$995$814$663$343
19 years$1,370$1,121$911$735$591$292
20 years$1,288$1,042$836$666$528$249
21 years$1,214$970$769$605$472$213
22 years$1,146$906$709$550$423$182
23 years$1,085$847$654$501$380$156
24 years$1,029$794$605$457$342$134
25 years$977$745$560$417$307$115
26 years$930$700$520$381$277$98
27 years$886$659$483$349$250$84
28 years$845$621$449$320$225$72
29 years$807$586$418$293$203$62
30 years$771$553$389$269$184$53
31 years$739$523$363$247$166$46
32 years$708$495$338$227$150$39
33 years$679$468$316$209$136$34
34 years$652$444$295$192$123$29
35 years$626$421$276$177$112$25
36 years$602$400$258$163$101$22
37 years$579$380$242$150$92$19
38 years$558$361$226$138$83$16
39 years$537$343$212$128$75$14
40 years$518$326$199$118$68$12
41 years$500$311$186$109$62$10
42 years$483$296$175$100$56$9
43 years$466$282$164$92$51$8
44 years$450$269$154$85$46$6
45 years$435$256$145$79$42$6
46 years$421$244$136$73$38$5
47 years$407$233$128$67$35$4
48 years$394$223$120$62$31$4
49 years$382$213$113$57$29$3
50 years$370$203$106$53$26$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $379,000, adding $6,820 every year, while hoping to spend $24,036 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: 57/28/15 Blend
55$379,000$379,000$379,000$379,000
56$424,693$404,606$398,731$446,880
57$442,437$398,857$386,515$456,951
58$461,186$392,022$373,083$464,700
59$481,017$384,020$358,371$472,589
60$502,013$374,769$342,309$480,636
61$524,266$364,181$324,824$488,861
62$547,877$352,162$305,842$497,290
63$572,956$338,613$285,283$505,948
64$599,622$323,430$263,065$514,869
65$628,008$306,503$239,101$524,090
66$658,256$287,713$213,303$533,651
67$690,525$266,938$185,575$543,602
68$724,987$244,046$155,820$553,996
69$761,831$218,899$123,935$564,897
70$801,264$191,351$89,813$576,376
71$843,514$161,248$53,343$588,511
72$888,829$128,426$14,407$601,395
73$937,484$92,714$0$615,129
74$989,778$53,928$0$634,173
75$1,046,042$11,876$0$657,057
76$1,106,637$0$0$681,639
77$1,171,960$0$0$718,471
78$1,242,448$0$0$762,191
79$1,318,581$0$0$809,438
80$1,400,885$0$0$860,544
81$1,489,941$0$0$915,872
82$1,586,384$0$0$975,822
83$1,690,916$0$0$1,040,832
84$1,804,305$0$0$1,111,385
85$1,927,399$0$0$1,188,013
86$2,061,129$0$0$1,271,301
87$2,206,519$0$0$1,361,889
88$2,364,696$0$0$1,460,487
89$2,536,900$0$0$1,567,872
90$2,724,496$0$0$1,684,900
91$2,928,985$0$0$1,812,514
92$3,152,019$0$0$1,951,751
93$3,395,417$0$0$2,103,752
94$3,661,182$0$0$2,269,775
95$3,951,516$0$0$2,451,202
96$4,268,847$0$0$2,649,557
97$4,615,846$0$0$2,866,516
98$4,995,453$0$0$3,103,927
99$5,410,907$0$0$3,363,821
100$5,865,773$0$0$3,648,439