Can I retire at age 56 with 829,000?

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 $829,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.7%
1 years$68,458$67,848$67,253$66,673$66,106$64,824
2 years$33,890$33,259$32,647$32,054$31,479$30,193
3 years$22,369$21,735$21,125$20,537$19,971$18,721
4 years$16,610$15,978$15,374$14,796$14,244$13,039
5 years$13,155$12,527$11,930$11,365$10,828$9,672
6 years$10,852$10,229$9,642$9,089$8,568$7,462
7 years$9,208$8,590$8,012$7,472$6,968$5,912
8 years$7,976$7,363$6,795$6,268$5,781$4,775
9 years$7,018$6,411$5,853$5,339$4,868$3,912
10 years$6,252$5,651$5,102$4,602$4,148$3,240
11 years$5,626$5,031$4,492$4,005$3,567$2,707
12 years$5,104$4,515$3,987$3,513$3,091$2,277
13 years$4,663$4,081$3,562$3,102$2,696$1,926
14 years$4,286$3,709$3,200$2,753$2,363$1,637
15 years$3,959$3,388$2,889$2,456$2,081$1,396
16 years$3,673$3,109$2,620$2,199$1,839$1,195
17 years$3,421$2,863$2,384$1,975$1,630$1,025
18 years$3,197$2,646$2,176$1,780$1,450$882
19 years$2,997$2,452$1,992$1,609$1,292$760
20 years$2,818$2,278$1,828$1,457$1,154$656
21 years$2,655$2,122$1,682$1,322$1,033$567
22 years$2,508$1,981$1,550$1,202$926$490
23 years$2,373$1,853$1,431$1,095$831$425
24 years$2,250$1,736$1,323$999$747$368
25 years$2,137$1,629$1,226$912$672$319
26 years$2,033$1,531$1,137$834$605$277
27 years$1,937$1,441$1,056$763$546$241
28 years$1,848$1,358$981$699$493$209
29 years$1,765$1,281$913$641$445$182
30 years$1,687$1,210$851$589$402$158
31 years$1,615$1,144$793$541$363$138
32 years$1,548$1,082$740$497$329$120
33 years$1,485$1,025$691$457$297$104
34 years$1,425$971$646$420$269$91
35 years$1,369$921$604$387$244$79
36 years$1,317$874$565$356$221$69
37 years$1,267$830$528$328$200$60
38 years$1,220$789$495$303$182$52
39 years$1,176$750$464$279$165$46
40 years$1,133$714$435$257$149$40
41 years$1,093$680$407$237$136$35
42 years$1,055$647$382$219$123$30
43 years$1,019$617$359$202$112$26
44 years$985$588$337$187$101$23
45 years$952$561$316$173$92$20
46 years$921$535$297$159$83$17
47 years$891$510$279$147$76$15
48 years$863$487$262$136$69$13
49 years$835$465$246$126$63$12
50 years$809$444$232$116$57$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $829,000, adding $6,240 every year, while hoping to spend $56,026 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: 80/15/5 Blend
55$829,000$829,000$829,000$829,000
56$919,995$876,058$863,208$992,938
57$954,223$859,373$832,514$1,024,888
58$990,065$839,993$798,915$1,051,870
59$1,027,625$817,727$762,252$1,079,761
60$1,067,019$792,372$722,364$1,108,621
61$1,108,370$763,714$679,078$1,138,517
62$1,151,814$731,525$632,217$1,169,523
63$1,197,496$695,567$581,593$1,201,721
64$1,245,575$655,585$527,012$1,235,201
65$1,296,226$611,310$468,269$1,270,064
66$1,349,637$562,460$405,151$1,306,421
67$1,406,013$508,734$337,437$1,344,394
68$1,465,578$449,814$264,894$1,384,119
69$1,528,579$385,366$187,279$1,425,748
70$1,595,281$315,036$104,340$1,469,447
71$1,665,976$238,450$15,812$1,515,402
72$1,740,984$155,212$0$1,563,816
73$1,820,652$64,906$0$1,619,114
74$1,905,363$0$0$1,678,523
75$1,995,532$0$0$1,746,927
76$2,091,617$0$0$1,831,247
77$2,194,118$0$0$1,921,211
78$2,303,583$0$0$2,017,301
79$2,420,611$0$0$2,120,047
80$2,545,861$0$0$2,230,027
81$2,680,054$0$0$2,347,878
82$2,823,982$0$0$2,474,298
83$2,978,514$0$0$2,610,050
84$3,144,603$0$0$2,755,976
85$3,323,294$0$0$2,912,996
86$3,515,737$0$0$3,082,124
87$3,723,193$0$0$3,264,471
88$3,947,048$0$0$3,461,258
89$4,188,826$0$0$3,673,828
90$4,450,199$0$0$3,903,654
91$4,733,007$0$0$4,152,359
92$5,039,271$0$0$4,421,723
93$5,371,214$0$0$4,713,706
94$5,731,280$0$0$5,030,462
95$6,122,158$0$0$5,374,359
96$6,546,803$0$0$5,748,003
97$7,008,468$0$0$6,154,262
98$7,510,730$0$0$6,596,287
99$8,057,526$0$0$7,077,550
100$8,653,187$0$0$7,601,867