Can I retire at age 56 with 821,000?

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 $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%19.4%
1 years$67,797$67,194$66,604$66,029$65,468$62,995
2 years$33,563$32,938$32,332$31,745$31,175$28,712
3 years$22,153$21,525$20,921$20,339$19,779$17,404
4 years$16,449$15,823$15,225$14,653$14,106$11,837
5 years$13,028$12,406$11,815$11,255$10,723$8,566
6 years$10,748$10,130$9,549$9,001$8,485$6,440
7 years$9,120$8,507$7,935$7,400$6,901$4,969
8 years$7,899$7,292$6,729$6,208$5,725$3,903
9 years$6,950$6,349$5,796$5,288$4,821$3,108
10 years$6,192$5,597$5,053$4,558$4,108$2,500
11 years$5,571$4,982$4,449$3,967$3,533$2,026
12 years$5,055$4,472$3,948$3,479$3,061$1,652
13 years$4,618$4,041$3,527$3,072$2,670$1,354
14 years$4,244$3,673$3,169$2,727$2,340$1,114
15 years$3,920$3,356$2,862$2,432$2,061$919
16 years$3,637$3,079$2,594$2,177$1,821$761
17 years$3,388$2,835$2,361$1,956$1,615$631
18 years$3,166$2,620$2,155$1,763$1,436$524
19 years$2,968$2,428$1,973$1,593$1,280$436
20 years$2,790$2,256$1,811$1,443$1,143$363
21 years$2,630$2,102$1,665$1,310$1,023$302
22 years$2,484$1,962$1,535$1,191$917$252
23 years$2,350$1,835$1,417$1,084$823$211
24 years$2,229$1,719$1,311$989$740$176
25 years$2,117$1,613$1,214$903$666$147
26 years$2,014$1,516$1,126$826$600$123
27 years$1,918$1,427$1,045$756$541$103
28 years$1,830$1,345$972$693$488$86
29 years$1,748$1,269$904$635$440$72
30 years$1,671$1,198$842$583$398$60
31 years$1,600$1,133$785$535$360$50
32 years$1,533$1,072$733$492$325$42
33 years$1,470$1,015$684$452$295$35
34 years$1,411$962$639$416$267$30
35 years$1,356$912$598$383$242$25
36 years$1,304$866$559$353$219$21
37 years$1,255$822$523$325$198$17
38 years$1,208$782$490$300$180$15
39 years$1,164$743$459$276$163$12
40 years$1,122$707$430$255$148$10
41 years$1,083$673$404$235$134$9
42 years$1,045$641$379$217$122$7
43 years$1,009$611$355$200$111$6
44 years$975$582$333$185$100$5
45 years$943$555$313$171$91$4
46 years$912$530$294$158$83$4
47 years$883$505$276$146$75$3
48 years$854$482$260$135$68$2
49 years$827$461$244$125$62$2
50 years$802$440$229$115$56$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $821,000, adding $5,138 every year, while hoping to spend $37,417 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: 58/15/27 Blend
55$821,000$821,000$821,000$821,000
56$910,042$866,529$853,803$955,860
57$963,055$869,177$842,594$990,441
58$1,020,221$870,702$829,756$1,023,731
59$1,081,924$871,007$815,194$1,059,252
60$1,148,587$869,993$798,809$1,097,229
61$1,220,674$867,553$780,500$1,137,915
62$1,298,693$863,574$760,157$1,181,586
63$1,383,206$857,935$737,669$1,228,552
64$1,474,828$850,510$712,916$1,279,152
65$1,574,238$841,162$685,776$1,333,765
66$1,682,181$829,749$656,120$1,392,807
67$1,799,476$816,120$623,813$1,456,743
68$1,927,025$800,112$588,713$1,526,083
69$2,065,820$781,556$550,673$1,601,394
70$2,216,953$760,271$509,540$1,683,303
71$2,381,624$736,067$465,152$1,772,501
72$2,561,156$708,740$417,341$1,869,756
73$2,757,004$678,078$365,931$1,975,914
74$2,970,768$643,853$310,739$2,091,913
75$3,204,211$605,827$251,574$2,218,788
76$3,459,274$563,746$188,235$2,357,683
77$3,738,093$517,342$120,514$2,509,865
78$4,043,019$466,333$48,192$2,676,730
79$4,376,642$410,419$0$2,859,824
80$4,741,814$349,284$0$3,069,205
81$5,141,674$282,594$0$3,313,765
82$5,579,681$209,996$0$3,581,761
83$6,059,640$131,118$0$3,875,566
84$6,585,747$45,567$0$4,197,800
85$7,162,620$0$0$4,551,347
86$7,795,345$0$0$4,947,160
87$8,489,525$0$0$5,389,740
88$9,251,332$0$0$5,875,509
89$10,087,563$0$0$6,408,811
90$11,005,707$0$0$6,994,431
91$12,014,011$0$0$7,637,639
92$13,121,563$0$0$8,344,243
93$14,338,372$0$0$9,120,639
94$15,675,465$0$0$9,973,873
95$17,144,991$0$0$10,911,710
96$18,760,333$0$0$11,942,702
97$20,536,237$0$0$13,076,272
98$22,488,947$0$0$14,322,801
99$24,636,361$0$0$15,693,728
100$26,998,198$0$0$17,201,655