Can I retire at age 56 with 816,000?

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 $816,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.7%
1 years$67,385$66,784$66,199$65,627$65,069$63,291
2 years$33,359$32,737$32,135$31,551$30,985$29,207
3 years$22,018$21,394$20,794$20,215$19,658$17,935
4 years$16,349$15,727$15,132$14,564$14,020$12,366
5 years$12,949$12,330$11,743$11,187$10,658$9,077
6 years$10,682$10,069$9,490$8,946$8,433$6,927
7 years$9,064$8,456$7,887$7,355$6,859$5,426
8 years$7,851$7,248$6,688$6,170$5,690$4,332
9 years$6,908$6,311$5,761$5,255$4,792$3,506
10 years$6,154$5,563$5,022$4,530$4,083$2,868
11 years$5,538$4,952$4,422$3,943$3,511$2,366
12 years$5,024$4,445$3,924$3,458$3,043$1,964
13 years$4,590$4,017$3,506$3,053$2,653$1,640
14 years$4,218$3,651$3,150$2,710$2,326$1,375
15 years$3,897$3,335$2,844$2,417$2,048$1,156
16 years$3,615$3,060$2,579$2,164$1,810$976
17 years$3,367$2,818$2,346$1,944$1,605$825
18 years$3,147$2,604$2,142$1,752$1,427$699
19 years$2,950$2,413$1,961$1,583$1,272$594
20 years$2,773$2,243$1,800$1,434$1,136$505
21 years$2,613$2,089$1,655$1,302$1,017$429
22 years$2,468$1,950$1,526$1,183$911$366
23 years$2,336$1,824$1,409$1,078$818$312
24 years$2,215$1,709$1,303$983$735$266
25 years$2,104$1,604$1,207$898$662$227
26 years$2,001$1,507$1,119$821$596$194
27 years$1,907$1,418$1,039$751$537$166
28 years$1,819$1,337$966$688$485$142
29 years$1,737$1,261$899$631$438$121
30 years$1,661$1,191$837$579$396$104
31 years$1,590$1,126$781$532$358$89
32 years$1,524$1,065$728$489$324$76
33 years$1,461$1,009$680$450$293$65
34 years$1,403$956$635$414$265$56
35 years$1,348$907$594$381$240$48
36 years$1,296$861$556$351$218$41
37 years$1,247$817$520$323$197$35
38 years$1,201$777$487$298$179$30
39 years$1,157$739$456$275$162$26
40 years$1,116$703$428$253$147$22
41 years$1,076$669$401$234$133$19
42 years$1,039$637$376$216$121$16
43 years$1,003$607$353$199$110$14
44 years$970$579$331$184$100$12
45 years$937$552$311$170$91$10
46 years$907$526$292$157$82$9
47 years$877$502$275$145$75$7
48 years$849$480$258$134$68$6
49 years$822$458$243$124$62$5
50 years$797$437$228$114$56$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $816,000, adding $6,296 every year, while hoping to spend $22,544 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: 33/44/23 Blend
55$816,000$816,000$816,000$816,000
56$905,726$862,478$849,830$929,062
57$974,124$880,753$854,313$965,354
58$1,048,742$899,168$858,190$1,001,958
59$1,130,192$917,705$861,418$1,040,951
60$1,219,146$936,347$863,950$1,082,557
61$1,316,344$955,074$865,738$1,127,025
62$1,422,601$973,862$866,730$1,174,628
63$1,538,814$992,689$866,873$1,225,669
64$1,665,971$1,011,528$866,110$1,280,482
65$1,805,158$1,030,352$864,384$1,339,436
66$1,957,575$1,049,129$861,631$1,402,937
67$2,124,539$1,067,828$857,787$1,471,435
68$2,307,503$1,086,412$852,784$1,545,425
69$2,508,067$1,104,845$846,550$1,625,455
70$2,727,992$1,123,084$839,012$1,712,128
71$2,969,218$1,141,087$830,090$1,806,112
72$3,233,883$1,158,805$819,703$1,908,143
73$3,524,341$1,176,188$807,765$2,019,032
74$3,843,184$1,193,182$794,185$2,139,677
75$4,193,270$1,209,729$778,871$2,271,066
76$4,577,743$1,225,765$761,723$2,414,293
77$5,000,071$1,241,226$742,639$2,570,562
78$5,464,071$1,256,039$721,511$2,741,203
79$5,973,950$1,270,129$698,225$2,927,685
80$6,534,342$1,283,414$672,665$3,131,628
81$7,150,352$1,295,808$644,706$3,354,817
82$7,827,605$1,307,219$614,220$3,599,227
83$8,572,296$1,317,549$581,072$3,867,034
84$9,391,254$1,326,693$545,122$4,160,637
85$10,292,000$1,334,538$506,221$4,482,686
86$11,282,821$1,340,968$464,217$4,836,105
87$12,372,849$1,345,856$418,948$5,224,117
88$13,572,144$1,349,067$370,247$5,650,278
89$14,891,790$1,350,459$317,938$6,118,514
90$16,344,003$1,349,881$261,839$6,633,152
91$17,942,238$1,347,172$201,757$7,198,966
92$19,701,324$1,342,162$137,494$7,821,224
93$21,637,600$1,334,668$68,841$8,505,733
94$23,769,068$1,324,500$0$9,258,900
95$26,115,566$1,311,454$0$10,088,878
96$28,698,951$1,295,312$0$11,020,472
97$31,543,309$1,275,847$0$12,045,425
98$34,675,179$1,252,816$0$13,173,274
99$38,123,805$1,225,962$0$14,414,535
100$41,921,411$1,195,012$0$15,780,801