Can I retire at age 56 with 823,000?

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 $823,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.4%
1 years$67,963$67,357$66,767$66,190$65,627$64,700
2 years$33,645$33,018$32,411$31,822$31,251$30,319
3 years$22,207$21,578$20,972$20,389$19,827$18,918
4 years$16,489$15,862$15,262$14,689$14,141$13,263
5 years$13,060$12,436$11,844$11,283$10,750$9,905
6 years$10,774$10,155$9,572$9,023$8,506$7,696
7 years$9,142$8,528$7,954$7,418$6,917$6,142
8 years$7,918$7,310$6,746$6,223$5,739$4,998
9 years$6,967$6,365$5,810$5,300$4,833$4,126
10 years$6,207$5,610$5,065$4,569$4,118$3,445
11 years$5,585$4,994$4,460$3,976$3,541$2,902
12 years$5,067$4,483$3,958$3,488$3,069$2,461
13 years$4,629$4,051$3,536$3,079$2,676$2,100
14 years$4,255$3,682$3,177$2,733$2,346$1,800
15 years$3,930$3,364$2,868$2,438$2,066$1,550
16 years$3,646$3,086$2,601$2,183$1,826$1,338
17 years$3,396$2,842$2,367$1,961$1,619$1,159
18 years$3,174$2,626$2,160$1,767$1,439$1,006
19 years$2,976$2,434$1,978$1,597$1,283$875
20 years$2,797$2,262$1,815$1,446$1,146$763
21 years$2,636$2,107$1,669$1,313$1,025$666
22 years$2,490$1,967$1,539$1,194$919$582
23 years$2,356$1,839$1,421$1,087$825$509
24 years$2,234$1,723$1,314$991$742$446
25 years$2,122$1,617$1,217$905$667$391
26 years$2,018$1,520$1,129$828$601$343
27 years$1,923$1,431$1,048$758$542$301
28 years$1,834$1,348$974$694$489$264
29 years$1,752$1,272$907$637$442$232
30 years$1,675$1,201$845$584$399$204
31 years$1,604$1,135$787$537$361$179
32 years$1,537$1,074$735$493$326$158
33 years$1,474$1,017$686$454$295$139
34 years$1,415$964$641$417$267$122
35 years$1,359$915$599$384$242$108
36 years$1,307$868$560$354$219$95
37 years$1,258$824$525$326$199$83
38 years$1,211$783$491$300$180$74
39 years$1,167$745$460$277$163$65
40 years$1,125$709$431$256$148$57
41 years$1,085$675$405$236$135$50
42 years$1,048$643$379$218$122$44
43 years$1,012$612$356$201$111$39
44 years$978$584$334$185$101$34
45 years$945$557$314$171$91$30
46 years$914$531$295$158$83$27
47 years$885$507$277$146$75$24
48 years$856$484$260$135$68$21
49 years$829$462$245$125$62$18
50 years$804$441$230$115$56$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $823,000, adding $3,840 every year, while hoping to spend $55,300 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: 46/28/26 Blend
55$823,000$823,000$823,000$823,000
56$910,907$867,288$854,531$945,843
57$944,981$850,946$824,319$954,553
58$980,677$831,950$791,242$958,309
59$1,018,102$810,112$755,145$961,299
60$1,057,372$785,232$715,866$963,480
61$1,098,614$757,098$673,237$964,809
62$1,141,964$725,487$627,082$965,243
63$1,187,571$690,163$577,217$964,737
64$1,235,599$650,876$523,448$963,251
65$1,286,222$607,361$465,576$960,740
66$1,339,633$559,338$403,389$957,165
67$1,396,042$506,512$336,669$952,485
68$1,455,677$448,571$265,187$946,664
69$1,518,788$385,183$188,703$939,667
70$1,585,648$316,000$106,967$931,462
71$1,656,553$240,653$19,720$922,023
72$1,731,830$158,753$0$911,326
73$1,811,833$69,889$0$919,715
74$1,896,953$0$0$933,983
75$1,987,614$0$0$956,859
76$2,084,284$0$0$1,004,266
77$2,187,474$0$0$1,054,927
78$2,297,742$0$0$1,109,125
79$2,415,702$0$0$1,167,169
80$2,542,028$0$0$1,229,398
81$2,677,457$0$0$1,296,184
82$2,822,797$0$0$1,367,937
83$2,978,938$0$0$1,445,103
84$3,146,855$0$0$1,528,176
85$3,327,616$0$0$1,617,697
86$3,522,399$0$0$1,714,258
87$3,732,493$0$0$1,818,513
88$3,959,318$0$0$1,931,177
89$4,204,431$0$0$2,053,040
90$4,469,545$0$0$2,184,966
91$4,756,544$0$0$2,327,908
92$5,067,496$0$0$2,482,913
93$5,404,677$0$0$2,651,131
94$5,770,590$0$0$2,833,828
95$6,167,987$0$0$3,032,398
96$6,599,896$0$0$3,248,371
97$7,069,647$0$0$3,483,434
98$7,580,905$0$0$3,739,441
99$8,137,700$0$0$4,018,432
100$8,744,470$0$0$4,322,654