Can I retire at age 56 with 821,000?

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 $821,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.3%
1 years$67,797$67,194$66,604$66,029$65,468$63,271
2 years$33,563$32,938$32,332$31,745$31,175$28,983
3 years$22,153$21,525$20,921$20,339$19,779$17,661
4 years$16,449$15,823$15,225$14,653$14,106$12,079
5 years$13,028$12,406$11,815$11,255$10,723$8,792
6 years$10,748$10,130$9,549$9,001$8,485$6,651
7 years$9,120$8,507$7,935$7,400$6,901$5,163
8 years$7,899$7,292$6,729$6,208$5,725$4,083
9 years$6,950$6,349$5,796$5,288$4,821$3,273
10 years$6,192$5,597$5,053$4,558$4,108$2,651
11 years$5,571$4,982$4,449$3,967$3,533$2,164
12 years$5,055$4,472$3,948$3,479$3,061$1,778
13 years$4,618$4,041$3,527$3,072$2,670$1,468
14 years$4,244$3,673$3,169$2,727$2,340$1,217
15 years$3,920$3,356$2,862$2,432$2,061$1,012
16 years$3,637$3,079$2,594$2,177$1,821$844
17 years$3,388$2,835$2,361$1,956$1,615$706
18 years$3,166$2,620$2,155$1,763$1,436$591
19 years$2,968$2,428$1,973$1,593$1,280$496
20 years$2,790$2,256$1,811$1,443$1,143$416
21 years$2,630$2,102$1,665$1,310$1,023$350
22 years$2,484$1,962$1,535$1,191$917$294
23 years$2,350$1,835$1,417$1,084$823$248
24 years$2,229$1,719$1,311$989$740$209
25 years$2,117$1,613$1,214$903$666$176
26 years$2,014$1,516$1,126$826$600$148
27 years$1,918$1,427$1,045$756$541$125
28 years$1,830$1,345$972$693$488$106
29 years$1,748$1,269$904$635$440$89
30 years$1,671$1,198$842$583$398$75
31 years$1,600$1,133$785$535$360$64
32 years$1,533$1,072$733$492$325$54
33 years$1,470$1,015$684$452$295$45
34 years$1,411$962$639$416$267$38
35 years$1,356$912$598$383$242$32
36 years$1,304$866$559$353$219$27
37 years$1,255$822$523$325$198$23
38 years$1,208$782$490$300$180$20
39 years$1,164$743$459$276$163$17
40 years$1,122$707$430$255$148$14
41 years$1,083$673$404$235$134$12
42 years$1,045$641$379$217$122$10
43 years$1,009$611$355$200$111$8
44 years$975$582$333$185$100$7
45 years$943$555$313$171$91$6
46 years$912$530$294$158$83$5
47 years$883$505$276$146$75$4
48 years$854$482$260$135$68$4
49 years$827$461$244$125$62$3
50 years$802$440$229$115$56$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $821,000, adding $5,894 every year, while hoping to spend $30,905 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: 64/25/11 Blend
55$821,000$821,000$821,000$821,000
56$910,822$867,309$854,583$966,496
57$970,843$876,924$850,329$1,014,030
58$1,035,950$885,975$844,897$1,061,789
59$1,106,630$894,401$838,214$1,113,175
60$1,183,418$902,137$830,205$1,168,539
61$1,266,900$909,116$820,791$1,228,270
62$1,357,726$915,265$809,889$1,292,796
63$1,456,606$920,505$797,412$1,362,588
64$1,564,324$924,754$783,270$1,438,167
65$1,681,742$927,924$767,367$1,520,108
66$1,809,810$929,922$749,604$1,609,044
67$1,949,571$930,649$729,876$1,705,674
68$2,102,176$929,999$708,075$1,810,769
69$2,268,889$927,860$684,087$1,925,178
70$2,451,104$924,114$657,792$2,049,841
71$2,650,355$918,634$629,066$2,185,792
72$2,868,331$911,286$597,779$2,334,172
73$3,106,890$901,929$563,795$2,496,240
74$3,368,082$890,412$526,971$2,673,384
75$3,654,160$876,576$487,158$2,867,137
76$3,967,607$860,252$444,201$3,079,188
77$4,311,159$841,260$397,938$3,311,400
78$4,687,828$819,412$348,199$3,565,829
79$5,100,930$794,507$294,808$3,844,742
80$5,554,119$766,332$237,578$4,150,639
81$6,051,420$734,663$176,317$4,486,277
82$6,597,265$699,261$110,824$4,854,698
83$7,196,537$659,876$40,887$5,259,255
84$7,854,614$616,241$0$5,703,649
85$8,577,423$568,075$0$6,195,918
86$9,371,490$515,080$0$6,741,979
87$10,244,005$456,942$0$7,342,018
88$11,202,890$393,329$0$8,001,533
89$12,256,873$323,891$0$8,726,587
90$13,415,568$248,255$0$9,523,865
91$14,689,567$166,030$0$10,400,734
92$16,090,540$76,804$0$11,365,317
93$17,631,346$0$0$12,426,566
94$19,326,151$0$0$13,599,817
95$21,190,563$0$0$14,913,788
96$23,241,778$0$0$16,359,477
97$25,498,746$0$0$17,950,248
98$27,982,343$0$0$19,700,824
99$30,715,573$0$0$21,627,427
100$33,723,781$0$0$23,747,934