Can I retire at age 56 with 817,000?

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 $817,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.6%
1 years$67,467$66,866$66,280$65,708$65,149$62,887
2 years$33,400$32,778$32,175$31,590$31,023$28,768
3 years$22,045$21,420$20,819$20,240$19,682$17,505
4 years$16,369$15,746$15,151$14,582$14,038$11,954
5 years$12,964$12,345$11,758$11,200$10,671$8,687
6 years$10,695$10,081$9,502$8,957$8,444$6,560
7 years$9,075$8,466$7,896$7,364$6,867$5,084
8 years$7,861$7,257$6,697$6,177$5,697$4,013
9 years$6,916$6,318$5,768$5,262$4,798$3,211
10 years$6,162$5,569$5,029$4,536$4,088$2,596
11 years$5,544$4,958$4,427$3,947$3,516$2,115
12 years$5,030$4,450$3,929$3,462$3,047$1,734
13 years$4,596$4,022$3,510$3,057$2,657$1,429
14 years$4,224$3,656$3,154$2,714$2,329$1,182
15 years$3,901$3,339$2,848$2,420$2,050$981
16 years$3,620$3,064$2,582$2,167$1,812$817
17 years$3,371$2,822$2,349$1,947$1,607$681
18 years$3,151$2,607$2,145$1,755$1,429$569
19 years$2,954$2,416$1,963$1,585$1,273$476
20 years$2,777$2,245$1,802$1,436$1,137$399
21 years$2,617$2,092$1,657$1,303$1,018$335
22 years$2,471$1,952$1,527$1,185$912$281
23 years$2,339$1,826$1,410$1,079$819$236
24 years$2,218$1,711$1,304$984$736$198
25 years$2,106$1,606$1,208$899$662$167
26 years$2,004$1,509$1,120$822$597$140
27 years$1,909$1,420$1,040$752$538$118
28 years$1,821$1,338$967$689$485$99
29 years$1,739$1,262$900$632$438$84
30 years$1,663$1,192$838$580$396$70
31 years$1,592$1,127$782$533$358$59
32 years$1,525$1,066$729$490$324$50
33 years$1,463$1,010$681$450$293$42
34 years$1,405$957$636$414$265$36
35 years$1,349$908$595$381$240$30
36 years$1,298$862$556$351$218$25
37 years$1,249$818$521$324$197$21
38 years$1,202$778$488$298$179$18
39 years$1,158$740$457$275$162$15
40 years$1,117$704$428$254$147$13
41 years$1,078$670$402$234$134$11
42 years$1,040$638$377$216$121$9
43 years$1,005$608$353$199$110$8
44 years$971$579$332$184$100$6
45 years$938$552$312$170$91$5
46 years$908$527$293$157$82$5
47 years$878$503$275$145$75$4
48 years$850$480$258$134$68$3
49 years$823$459$243$124$62$3
50 years$798$438$228$115$56$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $817,000, adding $4,709 every year, while hoping to spend $27,057 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: 45/43/12 Blend
55$817,000$817,000$817,000$817,000
56$905,191$861,890$849,227$942,634
57$968,732$875,335$848,887$982,554
58$1,037,848$888,531$847,630$1,022,689
59$1,113,078$901,438$845,395$1,065,607
60$1,195,016$914,013$842,120$1,111,575
61$1,284,317$926,209$837,740$1,160,888
62$1,381,700$937,976$832,187$1,213,872
63$1,487,957$949,260$825,389$1,270,887
64$1,603,960$960,005$817,271$1,332,330
65$1,730,668$970,150$807,754$1,398,641
66$1,869,139$979,630$796,756$1,470,303
67$2,020,535$988,375$784,191$1,547,852
68$2,186,136$996,313$769,969$1,631,878
69$2,367,353$1,003,363$753,994$1,723,033
70$2,565,739$1,009,444$736,169$1,822,038
71$2,783,003$1,014,465$716,389$1,929,688
72$3,021,028$1,018,333$694,547$2,046,859
73$3,281,888$1,020,946$670,529$2,174,522
74$3,567,866$1,022,198$644,217$2,313,746
75$3,881,477$1,021,974$615,487$2,465,711
76$4,225,492$1,020,155$584,210$2,631,720
77$4,602,961$1,016,612$550,250$2,813,214
78$5,017,246$1,011,209$513,467$3,011,778
79$5,472,049$1,003,802$473,712$3,229,167
80$5,971,448$994,238$430,831$3,467,314
81$6,519,935$982,354$384,662$3,728,354
82$7,122,458$967,980$335,039$4,014,643
83$7,784,470$950,932$281,783$4,328,780
84$8,511,976$931,018$224,713$4,673,633
85$9,311,592$908,032$163,636$5,052,369
86$10,190,609$881,760$98,352$5,468,479
87$11,157,055$851,971$28,651$5,925,817
88$12,219,780$818,422$0$6,428,634
89$13,388,531$780,859$0$6,987,476
90$14,674,049$739,008$0$7,605,956
91$16,088,165$692,583$0$8,286,142
92$17,643,918$641,280$0$9,034,361
93$19,355,673$584,778$0$9,857,591
94$21,239,258$522,738$0$10,763,530
95$23,312,111$454,801$0$11,760,662
96$25,593,448$380,588$0$12,858,345
97$28,104,442$299,699$0$14,066,900
98$30,868,422$211,711$0$15,397,702
99$33,911,094$116,178$0$16,863,300
100$37,260,782$12,627$0$18,477,524