Can I retire at age 56 with 815,000?

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 $815,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.4%
1 years$67,302$66,702$66,118$65,547$64,989$64,607
2 years$33,318$32,697$32,096$31,513$30,947$30,561
3 years$21,991$21,368$20,768$20,191$19,634$19,257
4 years$16,329$15,708$15,114$14,546$14,003$13,637
5 years$12,933$12,315$11,729$11,173$10,645$10,292
6 years$10,669$10,056$9,479$8,935$8,423$8,083
7 years$9,053$8,445$7,877$7,346$6,850$6,523
8 years$7,841$7,239$6,680$6,162$5,683$5,369
9 years$6,899$6,303$5,754$5,249$4,786$4,485
10 years$6,146$5,556$5,016$4,525$4,078$3,790
11 years$5,531$4,946$4,416$3,938$3,507$3,232
12 years$5,018$4,439$3,919$3,454$3,039$2,776
13 years$4,584$4,012$3,502$3,049$2,650$2,400
14 years$4,213$3,647$3,146$2,707$2,323$2,085
15 years$3,892$3,331$2,841$2,414$2,045$1,819
16 years$3,611$3,056$2,575$2,162$1,808$1,592
17 years$3,363$2,815$2,344$1,942$1,603$1,398
18 years$3,143$2,601$2,139$1,750$1,425$1,231
19 years$2,947$2,411$1,958$1,581$1,270$1,087
20 years$2,770$2,240$1,797$1,432$1,135$961
21 years$2,610$2,086$1,653$1,300$1,015$851
22 years$2,465$1,948$1,524$1,182$910$755
23 years$2,333$1,822$1,407$1,076$817$671
24 years$2,212$1,707$1,301$982$734$597
25 years$2,101$1,602$1,205$897$661$531
26 years$1,999$1,505$1,118$820$595$473
27 years$1,904$1,417$1,038$750$537$422
28 years$1,816$1,335$965$688$484$377
29 years$1,735$1,259$898$630$437$336
30 years$1,659$1,189$836$579$395$301
31 years$1,588$1,124$780$531$357$269
32 years$1,522$1,064$727$488$323$240
33 years$1,460$1,007$679$449$292$215
34 years$1,401$955$635$413$265$192
35 years$1,346$906$593$380$240$172
36 years$1,294$860$555$350$217$154
37 years$1,246$816$520$323$197$138
38 years$1,199$776$487$298$179$124
39 years$1,156$738$456$274$162$111
40 years$1,114$702$427$253$147$99
41 years$1,075$668$401$233$133$89
42 years$1,038$636$376$215$121$80
43 years$1,002$606$353$199$110$72
44 years$968$578$331$184$100$64
45 years$936$551$311$170$90$58
46 years$905$526$292$157$82$52
47 years$876$502$274$145$75$46
48 years$848$479$258$134$68$42
49 years$821$457$242$124$61$37
50 years$796$437$228$114$56$33

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $815,000, adding $5,966 every year, while hoping to spend $42,814 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: 72/11/17 Blend
55$815,000$815,000$815,000$815,000
56$904,284$861,089$848,456$965,405
57$950,967$857,729$831,326$1,003,419
58$1,000,977$852,769$812,187$1,039,285
59$1,054,608$846,085$790,926$1,077,456
60$1,112,182$837,548$767,426$1,118,153
61$1,174,054$827,017$741,565$1,161,619
62$1,240,613$814,346$713,212$1,208,123
63$1,312,285$799,378$682,234$1,257,963
64$1,389,539$781,949$648,490$1,311,465
65$1,472,890$761,883$611,833$1,368,994
66$1,562,904$738,994$572,108$1,430,950
67$1,660,202$713,087$529,156$1,497,774
68$1,765,468$683,953$482,808$1,569,957
69$1,879,453$651,374$432,889$1,648,038
70$2,002,982$615,117$379,216$1,732,614
71$2,136,964$574,935$321,597$1,824,342
72$2,282,397$530,569$259,833$1,923,950
73$2,440,379$481,745$193,715$2,032,242
74$2,612,118$428,171$123,025$2,150,104
75$2,798,944$369,541$47,536$2,278,516
76$3,002,318$305,530$0$2,418,559
77$3,223,849$235,796$0$2,577,417
78$3,465,309$159,977$0$2,760,009
79$3,728,645$77,690$0$2,959,204
80$4,016,002$0$0$3,176,658
81$4,329,742$0$0$3,415,583
82$4,672,462$0$0$3,686,887
83$5,047,024$0$0$3,983,436
84$5,456,577$0$0$4,307,728
85$5,904,590$0$0$4,662,514
86$6,394,880$0$0$5,050,824
87$6,931,653$0$0$5,475,992
88$7,519,538$0$0$5,941,692
89$8,163,635$0$0$6,451,969
90$8,869,558$0$0$7,011,277
91$9,643,491$0$0$7,624,522
92$10,492,248$0$0$8,297,108
93$11,423,328$0$0$9,034,987
94$12,444,996$0$0$9,844,714
95$13,566,354$0$0$10,733,511
96$14,797,428$0$0$11,709,330
97$16,149,260$0$0$12,780,935
98$17,634,019$0$0$13,957,977
99$19,265,105$0$0$15,251,089
100$21,057,283$0$0$16,671,984