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%16.6%
1 years$67,880$67,275$66,685$66,110$65,547$63,782
2 years$33,604$32,978$32,372$31,783$31,213$29,447
3 years$22,180$21,552$20,947$20,364$19,803$18,091
4 years$16,469$15,843$15,244$14,671$14,124$12,480
5 years$13,044$12,421$11,830$11,269$10,737$9,165
6 years$10,761$10,143$9,560$9,012$8,495$6,998
7 years$9,131$8,518$7,945$7,409$6,909$5,485
8 years$7,909$7,301$6,738$6,215$5,732$4,381
9 years$6,959$6,357$5,803$5,294$4,827$3,549
10 years$6,199$5,603$5,059$4,564$4,113$2,905
11 years$5,578$4,988$4,454$3,972$3,537$2,398
12 years$5,061$4,477$3,953$3,484$3,065$1,992
13 years$4,624$4,046$3,532$3,076$2,673$1,664
14 years$4,249$3,678$3,173$2,730$2,343$1,396
15 years$3,925$3,360$2,865$2,435$2,063$1,175
16 years$3,642$3,083$2,598$2,180$1,823$992
17 years$3,392$2,839$2,364$1,959$1,617$840
18 years$3,170$2,623$2,158$1,765$1,437$712
19 years$2,972$2,431$1,975$1,595$1,281$605
20 years$2,794$2,259$1,813$1,445$1,144$515
21 years$2,633$2,104$1,667$1,311$1,024$438
22 years$2,487$1,964$1,537$1,192$918$374
23 years$2,353$1,837$1,419$1,086$824$319
24 years$2,231$1,721$1,312$990$741$272
25 years$2,119$1,615$1,215$904$666$233
26 years$2,016$1,518$1,127$827$600$199
27 years$1,921$1,429$1,047$757$541$170
28 years$1,832$1,346$973$693$488$146
29 years$1,750$1,270$906$636$441$125
30 years$1,673$1,200$843$584$398$107
31 years$1,602$1,134$786$536$360$91
32 years$1,535$1,073$734$493$326$78
33 years$1,472$1,016$685$453$295$67
34 years$1,413$963$640$417$267$57
35 years$1,358$913$598$384$242$49
36 years$1,306$867$560$353$219$42
37 years$1,256$823$524$326$199$36
38 years$1,210$783$491$300$180$31
39 years$1,166$744$460$277$163$27
40 years$1,124$708$431$255$148$23
41 years$1,084$674$404$235$134$20
42 years$1,047$642$379$217$122$17
43 years$1,011$612$356$201$111$14
44 years$977$583$334$185$100$12
45 years$944$556$313$171$91$11
46 years$913$530$294$158$83$9
47 years$884$506$277$146$75$8
48 years$855$483$260$135$68$7
49 years$828$461$244$125$62$6
50 years$803$441$230$115$56$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $822,000, adding $6,838 every year, while hoping to spend $41,815 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: 56/29/15 Blend
55$822,000$822,000$822,000$822,000
56$912,897$869,331$856,590$960,081
57$961,522$867,438$840,795$990,999
58$1,013,705$864,050$823,070$1,019,531
59$1,069,765$859,050$803,305$1,049,652
60$1,130,052$852,315$781,386$1,081,523
61$1,194,950$843,711$757,196$1,115,323
62$1,264,881$833,099$730,608$1,151,250
63$1,340,309$820,331$701,493$1,189,525
64$1,421,742$805,249$669,715$1,230,394
65$1,509,740$787,686$635,130$1,274,128
66$1,604,918$767,467$597,592$1,321,031
67$1,707,951$744,405$556,942$1,371,438
68$1,819,583$718,301$513,020$1,425,724
69$1,940,629$688,947$465,656$1,484,303
70$2,071,989$656,121$414,671$1,547,633
71$2,214,651$619,590$359,881$1,616,225
72$2,369,700$579,105$301,092$1,690,645
73$2,538,333$534,404$238,102$1,771,519
74$2,721,865$485,211$170,700$1,859,542
75$2,921,742$431,234$98,666$1,955,483
76$3,139,557$372,162$21,769$2,060,198
77$3,377,064$307,670$0$2,174,629
78$3,636,190$237,411$0$2,309,475
79$3,919,059$161,022$0$2,460,589
80$4,228,007$78,116$0$2,625,809
81$4,565,609$0$0$2,806,598
82$4,934,696$0$0$3,008,311
83$5,338,386$0$0$3,256,271
84$5,780,114$0$0$3,527,669
85$6,263,661$0$0$3,824,835
86$6,793,189$0$0$4,150,339
87$7,373,284$0$0$4,507,008
88$8,008,996$0$0$4,897,958
89$8,705,884$0$0$5,326,619
90$9,470,075$0$0$5,796,768
91$10,308,312$0$0$6,312,568
92$11,228,028$0$0$6,878,603
93$12,237,404$0$0$7,499,920
94$13,345,457$0$0$8,182,083
95$14,562,116$0$0$8,931,217
96$15,898,319$0$0$9,754,071
97$17,366,118$0$0$10,658,081
98$18,978,787$0$0$11,651,436
99$20,750,950$0$0$12,743,159
100$22,698,718$0$0$13,943,191