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%11.2%
1 years$67,797$67,194$66,604$66,029$65,468$65,137
2 years$33,563$32,938$32,332$31,745$31,175$30,841
3 years$22,153$21,525$20,921$20,339$19,779$19,452
4 years$16,449$15,823$15,225$14,653$14,106$13,790
5 years$13,028$12,406$11,815$11,255$10,723$10,418
6 years$10,748$10,130$9,549$9,001$8,485$8,190
7 years$9,120$8,507$7,935$7,400$6,901$6,617
8 years$7,899$7,292$6,729$6,208$5,725$5,453
9 years$6,950$6,349$5,796$5,288$4,821$4,560
10 years$6,192$5,597$5,053$4,558$4,108$3,858
11 years$5,571$4,982$4,449$3,967$3,533$3,294
12 years$5,055$4,472$3,948$3,479$3,061$2,833
13 years$4,618$4,041$3,527$3,072$2,670$2,452
14 years$4,244$3,673$3,169$2,727$2,340$2,133
15 years$3,920$3,356$2,862$2,432$2,061$1,863
16 years$3,637$3,079$2,594$2,177$1,821$1,633
17 years$3,388$2,835$2,361$1,956$1,615$1,437
18 years$3,166$2,620$2,155$1,763$1,436$1,267
19 years$2,968$2,428$1,973$1,593$1,280$1,120
20 years$2,790$2,256$1,811$1,443$1,143$992
21 years$2,630$2,102$1,665$1,310$1,023$880
22 years$2,484$1,962$1,535$1,191$917$782
23 years$2,350$1,835$1,417$1,084$823$695
24 years$2,229$1,719$1,311$989$740$619
25 years$2,117$1,613$1,214$903$666$552
26 years$2,014$1,516$1,126$826$600$493
27 years$1,918$1,427$1,045$756$541$440
28 years$1,830$1,345$972$693$488$393
29 years$1,748$1,269$904$635$440$352
30 years$1,671$1,198$842$583$398$315
31 years$1,600$1,133$785$535$360$282
32 years$1,533$1,072$733$492$325$253
33 years$1,470$1,015$684$452$295$226
34 years$1,411$962$639$416$267$203
35 years$1,356$912$598$383$242$182
36 years$1,304$866$559$353$219$163
37 years$1,255$822$523$325$198$146
38 years$1,208$782$490$300$180$131
39 years$1,164$743$459$276$163$118
40 years$1,122$707$430$255$148$106
41 years$1,083$673$404$235$134$95
42 years$1,045$641$379$217$122$85
43 years$1,009$611$355$200$111$77
44 years$975$582$333$185$100$69
45 years$943$555$313$171$91$62
46 years$912$530$294$158$83$56
47 years$883$505$276$146$75$50
48 years$854$482$260$135$68$45
49 years$827$461$244$125$62$40
50 years$802$440$229$115$56$36

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $821,000, adding $6,048 every year, while hoping to spend $27,749 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: 28/45/27 Blend
55$821,000$821,000$821,000$821,000
56$910,981$867,468$854,742$928,720
57$974,376$880,449$853,851$956,293
58$1,043,307$893,136$852,000$983,091
59$1,118,311$905,486$849,128$1,011,319
60$1,199,975$917,451$845,171$1,041,120
61$1,288,948$928,981$840,059$1,072,652
62$1,385,943$940,024$833,724$1,106,088
63$1,491,746$950,522$826,091$1,141,625
64$1,607,221$960,414$817,081$1,179,479
65$1,733,318$969,636$806,615$1,219,888
66$1,871,086$978,117$794,605$1,263,121
67$2,021,676$985,784$780,964$1,309,474
68$2,186,359$992,559$765,598$1,359,274
69$2,366,531$998,358$748,409$1,412,887
70$2,563,731$1,003,091$729,294$1,470,716
71$2,779,653$1,006,665$708,147$1,533,210
72$3,016,164$1,008,978$684,857$1,600,866
73$3,275,318$1,009,923$659,305$1,674,235
74$3,559,379$1,009,387$631,369$1,753,927
75$3,870,837$1,007,249$600,922$1,840,620
76$4,212,439$1,003,381$567,830$1,935,061
77$4,587,208$997,647$531,953$2,038,082
78$4,998,475$989,902$493,144$2,150,600
79$5,449,906$979,995$451,251$2,273,634
80$5,945,544$967,761$406,115$2,408,308
81$6,489,838$953,031$357,569$2,555,868
82$7,087,693$935,621$305,439$2,717,694
83$7,744,510$915,338$249,543$2,895,310
84$8,466,239$891,979$189,692$3,090,403
85$9,259,435$865,326$125,687$3,304,838
86$10,131,321$835,151$57,321$3,540,678
87$11,089,854$801,211$0$3,800,204
88$12,143,799$763,250$0$4,090,441
89$13,302,813$720,996$0$4,427,587
90$14,577,538$674,163$0$4,798,258
91$15,979,697$622,447$0$5,205,928
92$17,522,207$565,527$0$5,654,430
93$19,219,299$503,065$0$6,147,995
94$21,086,653$434,701$0$6,691,292
95$23,141,548$360,058$0$7,289,472
96$25,403,020$278,735$0$7,948,220
97$27,892,045$190,309$0$8,673,809
98$30,631,734$94,335$0$9,473,157
99$33,647,555$0$0$10,353,901
100$36,967,568$0$0$11,329,246