Can I retire at age 56 with 814,000?

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 $814,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.9%
1 years$67,219$66,621$66,036$65,466$64,910$62,582
2 years$33,277$32,657$32,057$31,474$30,909$28,589
3 years$21,964$21,342$20,743$20,166$19,610$17,371
4 years$16,309$15,688$15,095$14,528$13,986$11,844
5 years$12,917$12,300$11,715$11,159$10,632$8,594
6 years$10,656$10,044$9,467$8,924$8,413$6,479
7 years$9,042$8,435$7,867$7,337$6,842$5,013
8 years$7,832$7,230$6,672$6,155$5,676$3,950
9 years$6,891$6,295$5,747$5,243$4,780$3,155
10 years$6,139$5,549$5,010$4,519$4,073$2,545
11 years$5,524$4,940$4,411$3,933$3,503$2,070
12 years$5,012$4,434$3,914$3,450$3,035$1,694
13 years$4,579$4,007$3,497$3,046$2,647$1,393
14 years$4,208$3,642$3,142$2,704$2,320$1,150
15 years$3,887$3,327$2,837$2,411$2,043$952
16 years$3,606$3,053$2,572$2,159$1,806$791
17 years$3,359$2,811$2,341$1,940$1,601$658
18 years$3,139$2,598$2,137$1,748$1,423$549
19 years$2,943$2,408$1,956$1,580$1,269$458
20 years$2,767$2,237$1,795$1,431$1,133$383
21 years$2,607$2,084$1,651$1,298$1,014$320
22 years$2,462$1,945$1,522$1,180$909$268
23 years$2,330$1,819$1,405$1,075$816$225
24 years$2,210$1,705$1,300$981$733$189
25 years$2,099$1,600$1,204$895$660$158
26 years$1,996$1,503$1,116$819$595$133
27 years$1,902$1,415$1,037$749$536$111
28 years$1,814$1,333$964$687$484$94
29 years$1,733$1,258$897$630$437$79
30 years$1,657$1,188$835$578$395$66
31 years$1,586$1,123$779$531$357$56
32 years$1,520$1,063$727$488$323$47
33 years$1,458$1,006$678$449$292$39
34 years$1,399$954$634$413$264$33
35 years$1,345$905$593$380$239$28
36 years$1,293$859$554$350$217$23
37 years$1,244$815$519$322$197$20
38 years$1,198$775$486$297$178$16
39 years$1,154$737$455$274$162$14
40 years$1,113$701$427$253$147$12
41 years$1,074$667$400$233$133$10
42 years$1,036$636$375$215$121$8
43 years$1,001$606$352$199$110$7
44 years$967$577$331$183$99$6
45 years$935$550$310$169$90$5
46 years$904$525$292$156$82$4
47 years$875$501$274$145$74$3
48 years$847$478$257$134$68$3
49 years$820$457$242$123$61$2
50 years$795$436$227$114$56$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $814,000, adding $6,372 every year, while hoping to spend $50,258 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: 47/46/7 Blend
55$814,000$814,000$814,000$814,000
56$903,601$860,459$847,842$944,075
57$942,294$849,147$822,770$961,217
58$983,249$835,597$795,175$974,017
59$1,026,645$819,645$764,917$986,733
60$1,072,674$801,119$731,853$999,373
61$1,121,550$779,837$695,833$1,011,947
62$1,173,504$755,605$656,700$1,024,471
63$1,228,791$728,219$614,289$1,036,966
64$1,287,688$697,462$568,427$1,049,460
65$1,350,499$663,105$518,937$1,061,986
66$1,417,559$624,906$465,630$1,074,586
67$1,489,231$582,608$408,310$1,087,314
68$1,565,918$535,941$346,774$1,100,229
69$1,648,057$484,617$280,806$1,113,407
70$1,736,130$428,335$210,185$1,126,934
71$1,830,667$366,774$134,677$1,140,914
72$1,932,245$299,597$54,039$1,155,465
73$2,041,502$226,445$0$1,170,727
74$2,159,137$146,943$0$1,189,253
75$2,285,917$60,691$0$1,213,298
76$2,422,684$0$0$1,239,057
77$2,570,366$0$0$1,283,363
78$2,729,978$0$0$1,364,523
79$2,902,641$0$0$1,452,394
80$3,089,582$0$0$1,547,612
81$3,292,154$0$0$1,650,875
82$3,511,843$0$0$1,762,951
83$3,750,282$0$0$1,884,685
84$4,009,269$0$0$2,017,006
85$4,290,781$0$0$2,160,937
86$4,596,994$0$0$2,317,601
87$4,930,299$0$0$2,488,238
88$5,293,331$0$0$2,674,207
89$5,688,986$0$0$2,877,009
90$6,120,454$0$0$3,098,293
91$6,591,244$0$0$3,339,875
92$7,105,220$0$0$3,603,752
93$7,666,634$0$0$3,892,127
94$8,280,167$0$0$4,207,420
95$8,950,974$0$0$4,552,300
96$9,684,730$0$0$4,929,703
97$10,487,683$0$0$5,342,862
98$11,366,712$0$0$5,795,340
99$12,329,396$0$0$6,291,056
100$13,384,076$0$0$6,834,330