Can I retire at age 56 with 820,000?

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 $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%13.9%
1 years$67,715$67,112$66,523$65,949$65,388$64,331
2 years$33,522$32,898$32,293$31,706$31,137$30,075
3 years$22,126$21,499$20,896$20,314$19,755$18,721
4 years$16,429$15,804$15,207$14,635$14,089$13,091
5 years$13,012$12,391$11,801$11,241$10,710$9,752
6 years$10,735$10,118$9,537$8,990$8,475$7,556
7 years$9,108$8,497$7,925$7,391$6,892$6,014
8 years$7,889$7,283$6,721$6,200$5,718$4,879
9 years$6,942$6,342$5,789$5,281$4,815$4,016
10 years$6,184$5,590$5,047$4,552$4,103$3,343
11 years$5,565$4,976$4,443$3,962$3,529$2,807
12 years$5,049$4,466$3,943$3,475$3,058$2,374
13 years$4,613$4,036$3,523$3,068$2,666$2,018
14 years$4,239$3,669$3,165$2,723$2,337$1,725
15 years$3,916$3,352$2,858$2,429$2,058$1,479
16 years$3,633$3,075$2,591$2,175$1,819$1,273
17 years$3,384$2,832$2,358$1,954$1,613$1,099
18 years$3,162$2,617$2,152$1,761$1,434$950
19 years$2,965$2,425$1,970$1,591$1,278$824
20 years$2,787$2,254$1,808$1,441$1,142$715
21 years$2,626$2,099$1,663$1,308$1,022$622
22 years$2,480$1,960$1,533$1,189$916$541
23 years$2,348$1,833$1,416$1,083$822$472
24 years$2,226$1,717$1,309$988$739$412
25 years$2,114$1,611$1,212$902$665$359
26 years$2,011$1,515$1,125$825$599$314
27 years$1,916$1,425$1,044$755$540$274
28 years$1,828$1,343$971$692$487$240
29 years$1,746$1,267$903$634$440$210
30 years$1,669$1,197$841$582$398$184
31 years$1,598$1,131$784$535$359$161
32 years$1,531$1,070$732$491$325$141
33 years$1,468$1,014$683$452$294$124
34 years$1,410$961$639$416$266$108
35 years$1,354$911$597$383$241$95
36 years$1,302$865$558$352$219$83
37 years$1,253$821$523$325$198$73
38 years$1,207$781$489$299$180$64
39 years$1,163$742$459$276$163$56
40 years$1,121$706$430$255$148$49
41 years$1,082$672$403$235$134$43
42 years$1,044$640$378$217$122$38
43 years$1,008$610$355$200$110$33
44 years$974$581$333$185$100$29
45 years$942$555$313$171$91$26
46 years$911$529$294$158$83$23
47 years$882$505$276$146$75$20
48 years$853$482$259$135$68$17
49 years$826$460$244$124$62$15
50 years$801$440$229$115$56$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $820,000, adding $3,218 every year, while hoping to spend $23,235 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: 71/9/20 Blend
55$820,000$820,000$820,000$820,000
56$906,959$863,499$850,789$966,727
57$974,747$881,089$854,569$1,024,550
58$1,048,671$898,762$857,696$1,084,769
59$1,129,332$916,497$860,125$1,150,123
60$1,217,391$934,273$861,807$1,221,118
61$1,313,578$952,065$862,691$1,298,310
62$1,418,694$969,848$862,722$1,382,314
63$1,533,623$987,592$861,845$1,473,806
64$1,659,336$1,005,268$860,001$1,573,533
65$1,796,905$1,022,843$857,127$1,682,316
66$1,947,507$1,040,280$853,159$1,801,060
67$2,112,442$1,057,543$848,029$1,930,763
68$2,293,138$1,074,590$841,665$2,072,526
69$2,491,170$1,091,376$833,992$2,227,560
70$2,708,271$1,107,855$824,933$2,397,202
71$2,946,351$1,123,977$814,404$2,582,923
72$3,207,513$1,139,686$802,321$2,786,348
73$3,494,073$1,154,924$788,593$3,009,263
74$3,808,583$1,169,631$773,126$3,253,640
75$4,153,855$1,183,738$755,821$3,521,653
76$4,532,983$1,197,176$736,576$3,815,694
77$4,949,378$1,209,869$715,282$4,138,404
78$5,406,797$1,221,735$691,827$4,492,692
79$5,909,380$1,232,689$666,093$4,881,762
80$6,461,685$1,242,640$637,955$5,309,149
81$7,068,736$1,251,488$607,286$5,778,747
82$7,736,067$1,259,131$573,950$6,294,848
83$8,469,775$1,265,458$537,807$6,862,183
84$9,276,577$1,270,350$498,708$7,485,967
85$10,163,874$1,273,683$456,501$8,171,947
86$11,139,819$1,275,324$411,024$8,926,455
87$12,213,397$1,275,131$362,109$9,756,475
88$13,394,504$1,272,953$309,581$10,669,699
89$14,694,048$1,268,632$253,256$11,674,608
90$16,124,045$1,261,999$192,944$12,780,549
91$17,697,734$1,252,873$128,444$13,997,822
92$19,429,704$1,241,065$59,548$15,337,781
93$21,336,029$1,226,373$0$16,812,939
94$23,434,421$1,208,582$0$18,440,069
95$25,744,396$1,187,466$0$20,245,144
96$28,287,457$1,162,785$0$22,232,244
97$31,087,301$1,134,285$0$24,419,885
98$34,170,035$1,101,695$0$26,828,470
99$37,564,432$1,064,731$0$29,480,482
100$41,302,192$1,023,091$0$32,400,696