Can I retire at age 56 with 829,000?

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 $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%18.5%
1 years$68,458$67,848$67,253$66,673$66,106$63,836
2 years$33,890$33,259$32,647$32,054$31,479$29,216
3 years$22,369$21,735$21,125$20,537$19,971$17,786
4 years$16,610$15,978$15,374$14,796$14,244$12,152
5 years$13,155$12,527$11,930$11,365$10,828$8,835
6 years$10,852$10,229$9,642$9,089$8,568$6,676
7 years$9,208$8,590$8,012$7,472$6,968$5,177
8 years$7,976$7,363$6,795$6,268$5,781$4,089
9 years$7,018$6,411$5,853$5,339$4,868$3,274
10 years$6,252$5,651$5,102$4,602$4,148$2,648
11 years$5,626$5,031$4,492$4,005$3,567$2,159
12 years$5,104$4,515$3,987$3,513$3,091$1,771
13 years$4,663$4,081$3,562$3,102$2,696$1,461
14 years$4,286$3,709$3,200$2,753$2,363$1,209
15 years$3,959$3,388$2,889$2,456$2,081$1,004
16 years$3,673$3,109$2,620$2,199$1,839$837
17 years$3,421$2,863$2,384$1,975$1,630$698
18 years$3,197$2,646$2,176$1,780$1,450$584
19 years$2,997$2,452$1,992$1,609$1,292$489
20 years$2,818$2,278$1,828$1,457$1,154$410
21 years$2,655$2,122$1,682$1,322$1,033$344
22 years$2,508$1,981$1,550$1,202$926$289
23 years$2,373$1,853$1,431$1,095$831$243
24 years$2,250$1,736$1,323$999$747$204
25 years$2,137$1,629$1,226$912$672$172
26 years$2,033$1,531$1,137$834$605$145
27 years$1,937$1,441$1,056$763$546$122
28 years$1,848$1,358$981$699$493$103
29 years$1,765$1,281$913$641$445$87
30 years$1,687$1,210$851$589$402$73
31 years$1,615$1,144$793$541$363$62
32 years$1,548$1,082$740$497$329$52
33 years$1,485$1,025$691$457$297$44
34 years$1,425$971$646$420$269$37
35 years$1,369$921$604$387$244$31
36 years$1,317$874$565$356$221$26
37 years$1,267$830$528$328$200$22
38 years$1,220$789$495$303$182$19
39 years$1,176$750$464$279$165$16
40 years$1,133$714$435$257$149$13
41 years$1,093$680$407$237$136$11
42 years$1,055$647$382$219$123$9
43 years$1,019$617$359$202$112$8
44 years$985$588$337$187$101$7
45 years$952$561$316$173$92$6
46 years$921$535$297$159$83$5
47 years$891$510$279$147$76$4
48 years$863$487$262$136$69$3
49 years$835$465$246$126$63$3
50 years$809$444$232$116$57$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $829,000, adding $2,543 every year, while hoping to spend $43,479 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$829,000$829,000$829,000$829,000
56$916,181$872,244$859,395$934,235
57$963,370$868,723$841,923$945,304
58$1,013,915$863,572$822,409$953,278
59$1,068,113$856,665$800,738$960,999
60$1,126,289$847,869$776,790$968,475
61$1,188,798$837,043$750,441$975,722
62$1,256,035$824,037$721,560$982,760
63$1,328,427$808,692$690,009$989,615
64$1,406,449$790,840$655,647$996,321
65$1,490,618$770,303$618,322$1,002,923
66$1,581,505$746,891$577,880$1,009,472
67$1,679,735$720,406$534,156$1,016,032
68$1,785,999$690,636$486,980$1,022,679
69$1,901,051$657,358$436,175$1,029,505
70$2,025,724$620,335$381,553$1,036,616
71$2,160,934$579,316$322,920$1,044,136
72$2,307,685$534,039$260,074$1,052,210
73$2,467,084$484,222$192,801$1,061,006
74$2,640,348$429,571$120,882$1,070,717
75$2,828,817$369,773$44,085$1,081,565
76$3,033,963$304,498$0$1,093,806
77$3,257,406$233,397$0$1,119,850
78$3,500,931$156,104$0$1,163,754
79$3,766,501$72,227$0$1,211,851
80$4,056,276$0$0$1,264,654
81$4,372,634$0$0$1,331,145
82$4,718,192$0$0$1,439,492
83$5,095,834$0$0$1,558,026
84$5,508,731$0$0$1,687,759
85$5,960,378$0$0$1,829,805
86$6,454,619$0$0$1,985,392
87$6,995,691$0$0$2,155,870
88$7,588,257$0$0$2,342,729
89$8,237,454$0$0$2,547,606
90$8,948,938$0$0$2,772,306
91$9,728,937$0$0$3,018,820
92$10,584,314$0$0$3,289,335
93$11,522,625$0$0$3,586,264
94$12,552,192$0$0$3,912,265
95$13,682,184$0$0$4,270,264
96$14,922,701$0$0$4,663,486
97$16,284,865$0$0$5,095,483
98$17,780,932$0$0$5,570,168
99$19,424,400$0$0$6,091,851
100$21,230,141$0$0$6,665,282