Can I retire at age 56 with 820,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $820,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.1%
1 years$67,715$67,112$66,523$65,949$65,388$65,085
2 years$33,522$32,898$32,293$31,706$31,137$30,831
3 years$22,126$21,499$20,896$20,314$19,755$19,456
4 years$16,429$15,804$15,207$14,635$14,089$13,799
5 years$13,012$12,391$11,801$11,241$10,710$10,430
6 years$10,735$10,118$9,537$8,990$8,475$8,204
7 years$9,108$8,497$7,925$7,391$6,892$6,632
8 years$7,889$7,283$6,721$6,200$5,718$5,468
9 years$6,942$6,342$5,789$5,281$4,815$4,576
10 years$6,184$5,590$5,047$4,552$4,103$3,873
11 years$5,565$4,976$4,443$3,962$3,529$3,309
12 years$5,049$4,466$3,943$3,475$3,058$2,848
13 years$4,613$4,036$3,523$3,068$2,666$2,467
14 years$4,239$3,669$3,165$2,723$2,337$2,147
15 years$3,916$3,352$2,858$2,429$2,058$1,877
16 years$3,633$3,075$2,591$2,175$1,819$1,646
17 years$3,384$2,832$2,358$1,954$1,613$1,449
18 years$3,162$2,617$2,152$1,761$1,434$1,279
19 years$2,965$2,425$1,970$1,591$1,278$1,131
20 years$2,787$2,254$1,808$1,441$1,142$1,002
21 years$2,626$2,099$1,663$1,308$1,022$890
22 years$2,480$1,960$1,533$1,189$916$791
23 years$2,348$1,833$1,416$1,083$822$704
24 years$2,226$1,717$1,309$988$739$628
25 years$2,114$1,611$1,212$902$665$560
26 years$2,011$1,515$1,125$825$599$500
27 years$1,916$1,425$1,044$755$540$447
28 years$1,828$1,343$971$692$487$400
29 years$1,746$1,267$903$634$440$358
30 years$1,669$1,197$841$582$398$321
31 years$1,598$1,131$784$535$359$287
32 years$1,531$1,070$732$491$325$258
33 years$1,468$1,014$683$452$294$231
34 years$1,410$961$639$416$266$207
35 years$1,354$911$597$383$241$186
36 years$1,302$865$558$352$219$167
37 years$1,253$821$523$325$198$150
38 years$1,207$781$489$299$180$135
39 years$1,163$742$459$276$163$121
40 years$1,121$706$430$255$148$109
41 years$1,082$672$403$235$134$98
42 years$1,044$640$378$217$122$88
43 years$1,008$610$355$200$110$79
44 years$974$581$333$185$100$71
45 years$942$555$313$171$91$64
46 years$911$529$294$158$83$57
47 years$882$505$276$146$75$52
48 years$853$482$259$135$68$46
49 years$826$460$244$124$62$42
50 years$801$440$229$115$56$38

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $820,000, adding $2,081 every year, while hoping to spend $51,865 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: 50/23/27 Blend
55$820,000$820,000$820,000$820,000
56$905,787$862,327$849,617$944,070
57$942,993$849,397$822,895$958,083
58$982,256$834,095$793,539$967,958
59$1,023,731$816,250$761,408$977,667
60$1,067,586$795,682$726,350$987,218
61$1,114,007$772,197$688,210$996,623
62$1,163,196$745,594$646,825$1,005,899
63$1,215,371$715,658$602,023$1,015,068
64$1,270,775$682,161$553,626$1,024,158
65$1,329,670$644,863$501,449$1,033,205
66$1,392,345$603,510$445,296$1,042,251
67$1,459,114$557,832$384,963$1,051,348
68$1,530,323$507,545$320,240$1,060,560
69$1,606,351$452,350$250,902$1,069,961
70$1,687,612$391,928$176,720$1,079,637
71$1,774,560$325,944$97,452$1,089,691
72$1,867,693$254,043$12,844$1,100,242
73$1,967,557$175,851$0$1,111,427
74$2,074,753$90,972$0$1,145,716
75$2,189,937$0$0$1,186,378
76$2,313,832$0$0$1,230,256
77$2,447,231$0$0$1,302,352
78$2,591,005$0$0$1,380,120
79$2,746,109$0$0$1,464,085
80$2,913,595$0$0$1,554,826
81$3,094,617$0$0$1,652,976
82$3,290,444$0$0$1,759,233
83$3,502,470$0$0$1,874,365
84$3,732,231$0$0$1,999,215
85$3,981,410$0$0$2,134,710
86$4,251,864$0$0$2,281,870
87$4,545,631$0$0$2,441,817
88$4,864,954$0$0$2,615,785
89$5,212,303$0$0$2,805,133
90$5,590,391$0$0$3,011,354
91$6,002,206$0$0$3,236,092
92$6,451,037$0$0$3,481,158
93$6,940,502$0$0$3,748,542
94$7,474,583$0$0$4,040,437
95$8,057,665$0$0$4,359,256
96$8,694,572$0$0$4,707,655
97$9,390,616$0$0$5,088,560
98$10,151,647$0$0$5,505,189
99$10,984,104$0$0$5,961,089
100$11,895,076$0$0$6,460,163