Can I retire at age 56 with 822,000?

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 $822,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.5%
1 years$67,880$67,275$66,685$66,110$65,547$63,297
2 years$33,604$32,978$32,372$31,783$31,213$28,969
3 years$22,180$21,552$20,947$20,364$19,803$17,635
4 years$16,469$15,843$15,244$14,671$14,124$12,049
5 years$13,044$12,421$11,830$11,269$10,737$8,761
6 years$10,761$10,143$9,560$9,012$8,495$6,620
7 years$9,131$8,518$7,945$7,409$6,909$5,133
8 years$7,909$7,301$6,738$6,215$5,732$4,054
9 years$6,959$6,357$5,803$5,294$4,827$3,246
10 years$6,199$5,603$5,059$4,564$4,113$2,626
11 years$5,578$4,988$4,454$3,972$3,537$2,141
12 years$5,061$4,477$3,953$3,484$3,065$1,756
13 years$4,624$4,046$3,532$3,076$2,673$1,448
14 years$4,249$3,678$3,173$2,730$2,343$1,199
15 years$3,925$3,360$2,865$2,435$2,063$996
16 years$3,642$3,083$2,598$2,180$1,823$829
17 years$3,392$2,839$2,364$1,959$1,617$692
18 years$3,170$2,623$2,158$1,765$1,437$579
19 years$2,972$2,431$1,975$1,595$1,281$485
20 years$2,794$2,259$1,813$1,445$1,144$406
21 years$2,633$2,104$1,667$1,311$1,024$341
22 years$2,487$1,964$1,537$1,192$918$287
23 years$2,353$1,837$1,419$1,086$824$241
24 years$2,231$1,721$1,312$990$741$203
25 years$2,119$1,615$1,215$904$666$171
26 years$2,016$1,518$1,127$827$600$144
27 years$1,921$1,429$1,047$757$541$121
28 years$1,832$1,346$973$693$488$102
29 years$1,750$1,270$906$636$441$86
30 years$1,673$1,200$843$584$398$72
31 years$1,602$1,134$786$536$360$61
32 years$1,535$1,073$734$493$326$51
33 years$1,472$1,016$685$453$295$43
34 years$1,413$963$640$417$267$37
35 years$1,358$913$598$384$242$31
36 years$1,306$867$560$353$219$26
37 years$1,256$823$524$326$199$22
38 years$1,210$783$491$300$180$19
39 years$1,166$744$460$277$163$16
40 years$1,124$708$431$255$148$13
41 years$1,084$674$404$235$134$11
42 years$1,047$642$379$217$122$9
43 years$1,011$612$356$201$111$8
44 years$977$583$334$185$100$7
45 years$944$556$313$171$91$6
46 years$913$530$294$158$83$5
47 years$884$506$277$146$75$4
48 years$855$483$260$135$68$3
49 years$828$461$244$125$62$3
50 years$803$441$230$115$56$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $822,000, adding $2,214 every year, while hoping to spend $36,352 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: 33/38/29 Blend
55$822,000$822,000$822,000$822,000
56$908,128$864,562$851,821$930,043
57$962,079$868,247$841,678$950,632
58$1,020,314$870,895$829,978$969,434
59$1,083,233$872,415$816,629$988,998
60$1,151,273$872,714$801,536$1,009,417
61$1,224,916$871,690$784,601$1,030,797
62$1,304,691$869,236$765,719$1,053,256
63$1,391,180$865,240$744,782$1,076,929
64$1,485,024$859,580$721,676$1,101,966
65$1,586,927$852,130$696,281$1,128,537
66$1,697,662$842,752$668,475$1,156,832
67$1,818,081$831,305$638,127$1,187,064
68$1,949,121$817,635$605,100$1,219,474
69$2,091,814$801,582$569,254$1,254,329
70$2,247,294$782,974$530,439$1,291,929
71$2,416,810$761,632$488,500$1,332,611
72$2,601,735$737,362$443,275$1,376,749
73$2,803,583$709,964$394,596$1,424,761
74$3,024,018$679,221$342,284$1,477,116
75$3,264,873$644,908$286,156$1,534,333
76$3,528,166$606,785$226,018$1,596,993
77$3,816,118$564,597$161,670$1,665,743
78$4,131,177$518,077$92,900$1,741,302
79$4,476,034$466,940$19,489$1,824,471
80$4,853,656$410,887$0$1,916,141
81$5,267,310$349,601$0$2,035,513
82$5,720,591$282,747$0$2,173,094
83$6,217,462$209,972$0$2,324,148
84$6,762,284$130,902$0$2,490,110
85$7,359,864$45,143$0$2,672,572
86$8,015,493$0$0$2,873,290
87$8,735,002$0$0$3,114,164
88$9,524,811$0$0$3,399,420
89$10,391,994$0$0$3,712,752
90$11,344,343$0$0$4,056,992
91$12,390,441$0$0$4,435,258
92$13,539,744$0$0$4,850,988
93$14,802,668$0$0$5,307,968
94$16,190,690$0$0$5,810,368
95$17,716,451$0$0$6,362,784
96$19,393,881$0$0$6,970,278
97$21,238,324$0$0$7,638,430
98$23,266,688$0$0$8,373,384
99$25,497,601$0$0$9,181,913
100$27,951,584$0$0$10,071,476