Can I retire at age 56 with 822,000?

Use the below retirement simulation to view the chances of a successful retirement.
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%18.4%
1 years$67,880$67,275$66,685$66,110$65,547$63,323
2 years$33,604$32,978$32,372$31,783$31,213$28,994
3 years$22,180$21,552$20,947$20,364$19,803$17,659
4 years$16,469$15,843$15,244$14,671$14,124$12,071
5 years$13,044$12,421$11,830$11,269$10,737$8,782
6 years$10,761$10,143$9,560$9,012$8,495$6,639
7 years$9,131$8,518$7,945$7,409$6,909$5,151
8 years$7,909$7,301$6,738$6,215$5,732$4,071
9 years$6,959$6,357$5,803$5,294$4,827$3,261
10 years$6,199$5,603$5,059$4,564$4,113$2,640
11 years$5,578$4,988$4,454$3,972$3,537$2,154
12 years$5,061$4,477$3,953$3,484$3,065$1,768
13 years$4,624$4,046$3,532$3,076$2,673$1,459
14 years$4,249$3,678$3,173$2,730$2,343$1,209
15 years$3,925$3,360$2,865$2,435$2,063$1,005
16 years$3,642$3,083$2,598$2,180$1,823$837
17 years$3,392$2,839$2,364$1,959$1,617$699
18 years$3,170$2,623$2,158$1,765$1,437$585
19 years$2,972$2,431$1,975$1,595$1,281$490
20 years$2,794$2,259$1,813$1,445$1,144$412
21 years$2,633$2,104$1,667$1,311$1,024$346
22 years$2,487$1,964$1,537$1,192$918$291
23 years$2,353$1,837$1,419$1,086$824$245
24 years$2,231$1,721$1,312$990$741$206
25 years$2,119$1,615$1,215$904$666$173
26 years$2,016$1,518$1,127$827$600$146
27 years$1,921$1,429$1,047$757$541$123
28 years$1,832$1,346$973$693$488$104
29 years$1,750$1,270$906$636$441$88
30 years$1,673$1,200$843$584$398$74
31 years$1,602$1,134$786$536$360$62
32 years$1,535$1,073$734$493$326$53
33 years$1,472$1,016$685$453$295$44
34 years$1,413$963$640$417$267$37
35 years$1,358$913$598$384$242$32
36 years$1,306$867$560$353$219$27
37 years$1,256$823$524$326$199$23
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$14
41 years$1,084$674$404$235$134$11
42 years$1,047$642$379$217$122$10
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$4
49 years$828$461$244$125$62$3
50 years$803$441$230$115$56$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $822,000, adding $6,862 every year, while hoping to spend $23,570 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: 48/30/22 Blend
55$822,000$822,000$822,000$822,000
56$912,922$869,356$856,615$950,752
57$980,962$886,876$860,233$995,362
58$1,055,152$904,465$863,183$1,040,868
59$1,136,094$922,101$865,417$1,089,798
60$1,224,452$939,760$866,884$1,142,487
61$1,320,956$957,418$867,534$1,199,300
62$1,426,408$975,046$867,312$1,260,641
63$1,541,694$992,616$866,159$1,326,955
64$1,667,788$1,010,095$864,017$1,398,735
65$1,805,762$1,027,449$860,821$1,476,522
66$1,956,797$1,044,642$856,506$1,560,915
67$2,122,193$1,061,632$851,001$1,652,572
68$2,303,382$1,078,377$844,235$1,752,222
69$2,501,942$1,094,832$836,132$1,860,667
70$2,719,608$1,110,947$826,610$1,978,791
71$2,958,294$1,126,670$815,588$2,107,573
72$3,220,107$1,141,943$802,977$2,248,087
73$3,507,367$1,156,707$788,685$2,401,522
74$3,822,629$1,170,897$772,617$2,569,187
75$4,168,710$1,184,444$754,673$2,752,528
76$4,548,711$1,197,274$734,746$2,953,138
77$4,966,047$1,209,308$712,729$3,172,775
78$5,424,484$1,220,464$688,504$3,413,376
79$5,928,165$1,230,650$661,953$3,677,080
80$6,481,659$1,239,773$632,950$3,966,244
81$7,089,997$1,247,731$601,363$4,283,467
82$7,758,723$1,254,416$567,054$4,631,618
83$8,493,944$1,259,713$529,882$5,013,857
84$9,302,387$1,263,501$489,694$5,433,672
85$10,191,467$1,265,649$446,335$5,894,906
86$11,169,351$1,266,020$399,641$6,401,801
87$12,245,036$1,264,467$349,441$6,959,031
88$13,428,439$1,260,834$295,557$7,571,751
89$14,730,483$1,254,958$237,801$8,245,646
90$16,163,204$1,246,663$175,979$8,986,982
91$17,739,864$1,235,763$109,887$9,802,671
92$19,475,076$1,222,061$39,314$10,700,332
93$21,384,940$1,205,348$0$11,688,365
94$23,487,198$1,185,405$0$12,784,483
95$25,801,398$1,161,995$0$14,000,846
96$28,349,079$1,134,871$0$15,339,530
97$31,153,975$1,103,770$0$16,813,007
98$34,242,240$1,068,414$0$18,435,022
99$37,642,690$1,028,508$0$20,220,725
100$41,387,080$983,740$0$22,186,815