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%15.3%
1 years$67,880$67,275$66,685$66,110$65,547$64,119
2 years$33,604$32,978$32,372$31,783$31,213$29,781
3 years$22,180$21,552$20,947$20,364$19,803$18,412
4 years$16,469$15,843$15,244$14,671$14,124$12,785
5 years$13,044$12,421$11,830$11,269$10,737$9,454
6 years$10,761$10,143$9,560$9,012$8,495$7,270
7 years$9,131$8,518$7,945$7,409$6,909$5,740
8 years$7,909$7,301$6,738$6,215$5,732$4,620
9 years$6,959$6,357$5,803$5,294$4,827$3,771
10 years$6,199$5,603$5,059$4,564$4,113$3,112
11 years$5,578$4,988$4,454$3,972$3,537$2,590
12 years$5,061$4,477$3,953$3,484$3,065$2,170
13 years$4,624$4,046$3,532$3,076$2,673$1,829
14 years$4,249$3,678$3,173$2,730$2,343$1,548
15 years$3,925$3,360$2,865$2,435$2,063$1,315
16 years$3,642$3,083$2,598$2,180$1,823$1,120
17 years$3,392$2,839$2,364$1,959$1,617$957
18 years$3,170$2,623$2,158$1,765$1,437$820
19 years$2,972$2,431$1,975$1,595$1,281$703
20 years$2,794$2,259$1,813$1,445$1,144$604
21 years$2,633$2,104$1,667$1,311$1,024$520
22 years$2,487$1,964$1,537$1,192$918$448
23 years$2,353$1,837$1,419$1,086$824$386
24 years$2,231$1,721$1,312$990$741$333
25 years$2,119$1,615$1,215$904$666$287
26 years$2,016$1,518$1,127$827$600$248
27 years$1,921$1,429$1,047$757$541$215
28 years$1,832$1,346$973$693$488$186
29 years$1,750$1,270$906$636$441$161
30 years$1,673$1,200$843$584$398$139
31 years$1,602$1,134$786$536$360$120
32 years$1,535$1,073$734$493$326$104
33 years$1,472$1,016$685$453$295$90
34 years$1,413$963$640$417$267$78
35 years$1,358$913$598$384$242$68
36 years$1,306$867$560$353$219$59
37 years$1,256$823$524$326$199$51
38 years$1,210$783$491$300$180$44
39 years$1,166$744$460$277$163$38
40 years$1,124$708$431$255$148$33
41 years$1,084$674$404$235$134$29
42 years$1,047$642$379$217$122$25
43 years$1,011$612$356$201$111$22
44 years$977$583$334$185$100$19
45 years$944$556$313$171$91$16
46 years$913$530$294$158$83$14
47 years$884$506$277$146$75$12
48 years$855$483$260$135$68$11
49 years$828$461$244$125$62$9
50 years$803$441$230$115$56$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $822,000, adding $4,638 every year, while hoping to spend $40,063 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: 29/41/30 Blend
55$822,000$822,000$822,000$822,000
56$910,628$867,062$854,321$928,530
57$960,885$866,921$840,314$943,019
58$1,014,926$865,431$824,495$954,824
59$1,073,094$862,483$806,761$966,730
60$1,135,767$857,961$787,005$978,774
61$1,203,358$851,744$765,112$991,001
62$1,276,324$843,703$740,967$1,003,465
63$1,355,164$833,700$714,444$1,016,229
64$1,440,428$821,589$685,416$1,029,365
65$1,532,721$807,216$653,747$1,042,959
66$1,632,707$790,418$619,296$1,057,109
67$1,741,117$771,022$581,916$1,071,929
68$1,858,754$748,845$541,452$1,087,549
69$1,986,500$723,692$497,745$1,104,118
70$2,125,329$695,358$450,625$1,121,805
71$2,276,309$663,627$399,917$1,140,806
72$2,440,616$628,268$345,438$1,161,340
73$2,619,544$589,039$286,995$1,183,657
74$2,814,517$545,681$224,389$1,208,040
75$3,027,102$497,924$157,411$1,234,808
76$3,259,025$445,481$85,843$1,264,321
77$3,512,183$388,047$9,456$1,296,984
78$3,788,667$325,302$0$1,333,255
79$4,090,777$256,908$0$1,396,712
80$4,421,045$182,505$0$1,469,595
81$4,782,260$101,717$0$1,549,600
82$5,177,493$14,143$0$1,637,536
83$5,610,124$0$0$1,734,302
84$6,083,876$0$0$1,877,277
85$6,602,848$0$0$2,041,019
86$7,171,556$0$0$2,220,590
87$7,794,971$0$0$2,417,575
88$8,478,570$0$0$2,633,723
89$9,228,385$0$0$2,870,959
90$10,051,058$0$0$3,131,404
91$10,953,907$0$0$3,417,394
92$11,944,992$0$0$3,731,502
93$13,033,192$0$0$4,076,564
94$14,228,288$0$0$4,455,703
95$15,541,053$0$0$4,872,358
96$16,983,357$0$0$5,330,320
97$18,568,275$0$0$5,833,766
98$20,310,212$0$0$6,387,295
99$22,225,038$0$0$6,995,977
100$24,330,236$0$0$7,665,395