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%12.1%
1 years$67,385$66,784$66,199$65,627$65,069$64,497
2 years$33,359$32,737$32,135$31,551$30,985$30,409
3 years$22,018$21,394$20,794$20,215$19,658$19,095
4 years$16,349$15,727$15,132$14,564$14,020$13,475
5 years$12,949$12,330$11,743$11,187$10,658$10,132
6 years$10,682$10,069$9,490$8,946$8,433$7,928
7 years$9,064$8,456$7,887$7,355$6,859$6,373
8 years$7,851$7,248$6,688$6,170$5,690$5,225
9 years$6,908$6,311$5,761$5,255$4,792$4,347
10 years$6,154$5,563$5,022$4,530$4,083$3,658
11 years$5,538$4,952$4,422$3,943$3,511$3,106
12 years$5,024$4,445$3,924$3,458$3,043$2,656
13 years$4,590$4,017$3,506$3,053$2,653$2,286
14 years$4,218$3,651$3,150$2,710$2,326$1,976
15 years$3,897$3,335$2,844$2,417$2,048$1,716
16 years$3,615$3,060$2,579$2,164$1,810$1,495
17 years$3,367$2,818$2,346$1,944$1,605$1,307
18 years$3,147$2,604$2,142$1,752$1,427$1,145
19 years$2,950$2,413$1,961$1,583$1,272$1,006
20 years$2,773$2,243$1,800$1,434$1,136$885
21 years$2,613$2,089$1,655$1,302$1,017$780
22 years$2,468$1,950$1,526$1,183$911$688
23 years$2,336$1,824$1,409$1,078$818$608
24 years$2,215$1,709$1,303$983$735$538
25 years$2,104$1,604$1,207$898$662$476
26 years$2,001$1,507$1,119$821$596$422
27 years$1,907$1,418$1,039$751$537$374
28 years$1,819$1,337$966$688$485$332
29 years$1,737$1,261$899$631$438$295
30 years$1,661$1,191$837$579$396$262
31 years$1,590$1,126$781$532$358$233
32 years$1,524$1,065$728$489$324$207
33 years$1,461$1,009$680$450$293$184
34 years$1,403$956$635$414$265$164
35 years$1,348$907$594$381$240$146
36 years$1,296$861$556$351$218$130
37 years$1,247$817$520$323$197$116
38 years$1,201$777$487$298$179$103
39 years$1,157$739$456$275$162$92
40 years$1,116$703$428$253$147$82
41 years$1,076$669$401$234$133$73
42 years$1,039$637$376$216$121$65
43 years$1,003$607$353$199$110$58
44 years$970$579$331$184$100$52
45 years$937$552$311$170$91$46
46 years$907$526$292$157$82$41
47 years$877$502$275$145$75$37
48 years$849$480$258$134$68$33
49 years$822$458$243$124$62$29
50 years$797$437$228$114$56$26

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $816,000, adding $2,447 every year, while hoping to spend $39,220 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: 76/19/5 Blend
55$816,000$816,000$816,000$816,000
56$901,756$858,508$845,860$969,834
57$952,005$858,845$832,467$1,015,211
58$1,006,066$857,884$817,310$1,059,629
59$1,064,284$855,521$800,290$1,107,158
60$1,127,042$851,642$781,301$1,158,089
61$1,194,759$846,131$760,233$1,212,743
62$1,267,895$838,862$736,971$1,271,477
63$1,346,956$829,702$711,395$1,334,681
64$1,432,498$818,510$683,379$1,402,785
65$1,525,132$805,135$652,791$1,476,266
66$1,625,529$789,421$619,494$1,555,648
67$1,734,430$771,200$583,344$1,641,508
68$1,852,646$750,292$544,190$1,734,485
69$1,981,071$726,512$501,875$1,835,281
70$2,120,688$699,659$456,236$1,944,671
71$2,272,579$669,523$407,101$2,063,512
72$2,437,934$635,881$354,290$2,192,745
73$2,618,062$598,498$297,617$2,333,411
74$2,814,403$557,124$236,887$2,486,658
75$3,028,545$511,495$171,895$2,653,750
76$3,262,231$461,334$102,429$2,836,083
77$3,517,385$406,345$28,266$3,035,197
78$3,796,119$346,217$0$3,252,788
79$4,100,763$280,622$0$3,493,443
80$4,433,881$209,212$0$3,758,298
81$4,798,293$131,620$0$4,048,135
82$5,197,109$47,459$0$4,365,479
83$5,633,750$0$0$4,713,115
84$6,111,984$0$0$5,103,244
85$6,635,961$0$0$5,541,592
86$7,210,251$0$0$6,022,063
87$7,839,887$0$0$6,548,871
88$8,530,414$0$0$7,126,659
89$9,287,936$0$0$7,760,540
90$10,119,179$0$0$8,456,147
91$11,031,551$0$0$9,219,682
92$12,033,212$0$0$10,057,980
93$13,133,150$0$0$10,978,568
94$14,341,267$0$0$11,989,738
95$15,668,471$0$0$13,100,625
96$17,126,778$0$0$14,321,292
97$18,729,426$0$0$15,662,826
98$20,491,000$0$0$17,137,441
99$22,427,566$0$0$18,758,591
100$24,556,826$0$0$20,541,104