Can I retire at age 56 with 830,000?

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 $830,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17%
1 years$68,541$67,930$67,334$66,753$66,185$64,299
2 years$33,931$33,299$32,687$32,093$31,517$29,631
3 years$22,396$21,761$21,150$20,562$19,996$18,169
4 years$16,630$15,997$15,392$14,814$14,261$12,508
5 years$13,171$12,542$11,945$11,378$10,841$9,167
6 years$10,865$10,241$9,653$9,099$8,578$6,984
7 years$9,220$8,601$8,022$7,481$6,976$5,462
8 years$7,986$7,372$6,803$6,276$5,788$4,352
9 years$7,026$6,419$5,860$5,346$4,874$3,517
10 years$6,260$5,658$5,109$4,608$4,153$2,871
11 years$5,633$5,037$4,497$4,010$3,572$2,364
12 years$5,110$4,521$3,991$3,518$3,095$1,959
13 years$4,669$4,086$3,566$3,105$2,699$1,632
14 years$4,291$3,714$3,204$2,757$2,366$1,365
15 years$3,963$3,393$2,893$2,458$2,083$1,146
16 years$3,677$3,113$2,623$2,201$1,841$965
17 years$3,425$2,867$2,387$1,978$1,632$814
18 years$3,201$2,649$2,179$1,782$1,451$688
19 years$3,001$2,455$1,995$1,611$1,294$583
20 years$2,821$2,281$1,830$1,459$1,156$494
21 years$2,658$2,125$1,684$1,324$1,034$420
22 years$2,511$1,983$1,552$1,204$927$357
23 years$2,376$1,855$1,433$1,096$832$304
24 years$2,253$1,738$1,325$1,000$748$258
25 years$2,140$1,631$1,227$913$673$220
26 years$2,036$1,533$1,138$835$606$188
27 years$1,939$1,443$1,057$764$547$160
28 years$1,850$1,359$983$700$493$136
29 years$1,767$1,283$914$642$445$116
30 years$1,690$1,211$852$589$402$99
31 years$1,617$1,145$794$541$364$85
32 years$1,550$1,083$741$497$329$72
33 years$1,486$1,026$692$457$298$62
34 years$1,427$972$646$421$270$53
35 years$1,371$922$604$387$244$45
36 years$1,318$875$565$357$221$39
37 years$1,268$831$529$329$201$33
38 years$1,221$790$495$303$182$28
39 years$1,177$751$464$279$165$24
40 years$1,135$715$435$258$150$21
41 years$1,095$680$408$238$136$18
42 years$1,057$648$383$219$123$15
43 years$1,021$617$359$203$112$13
44 years$986$589$337$187$101$11
45 years$953$561$317$173$92$9
46 years$922$535$297$160$84$8
47 years$892$511$279$147$76$7
48 years$864$488$262$136$69$6
49 years$836$466$247$126$63$5
50 years$810$445$232$116$57$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $830,000, adding $3,440 every year, while hoping to spend $23,667 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: 56/16/28 Blend
55$830,000$830,000$830,000$830,000
56$918,208$874,218$861,353$962,368
57$986,684$891,874$865,027$1,010,788
58$1,061,351$909,601$868,031$1,060,770
59$1,142,816$927,378$870,317$1,114,750
60$1,231,746$945,183$871,836$1,173,121
61$1,328,877$962,989$872,535$1,236,318
62$1,435,017$980,770$872,359$1,304,820
63$1,551,057$998,496$871,252$1,379,154
64$1,677,978$1,016,135$869,151$1,459,903
65$1,816,859$1,033,653$865,995$1,547,709
66$1,968,889$1,051,013$861,717$1,643,281
67$2,135,378$1,068,175$856,246$1,747,400
68$2,317,767$1,085,096$849,511$1,860,927
69$2,517,644$1,101,730$841,434$1,984,813
70$2,736,757$1,118,029$831,936$2,120,105
71$2,977,033$1,133,939$820,933$2,267,958
72$3,240,593$1,149,404$808,336$2,429,648
73$3,529,772$1,164,364$794,055$2,606,578
74$3,847,146$1,178,754$777,992$2,800,299
75$4,195,547$1,192,506$760,047$3,012,520
76$4,578,099$1,205,545$740,115$3,245,124
77$4,998,241$1,217,793$718,085$3,500,189
78$5,459,763$1,229,166$693,842$3,780,006
79$5,966,838$1,239,575$667,265$4,087,102
80$6,524,067$1,248,924$638,229$4,424,263
81$7,136,513$1,257,113$606,602$4,794,558
82$7,809,759$1,264,034$572,245$5,201,375
83$8,549,955$1,269,571$535,015$5,648,448
84$9,363,873$1,273,603$494,761$6,139,894
85$10,258,979$1,276,000$451,326$6,680,251
86$11,243,495$1,276,625$404,545$7,274,523
87$12,326,481$1,275,330$354,248$7,928,228
88$13,517,921$1,271,960$300,254$8,647,449
89$14,828,814$1,266,350$242,377$9,438,891
90$16,271,277$1,258,326$180,421$10,309,948
91$17,858,665$1,247,701$114,183$11,268,769
92$19,605,689$1,234,278$43,448$12,324,340
93$21,528,561$1,217,850$0$13,486,565
94$23,645,143$1,198,193$0$14,775,936
95$25,975,117$1,175,075$0$16,209,392
96$28,540,172$1,148,246$0$17,787,281
97$31,364,203$1,117,443$0$19,524,306
98$34,473,542$1,082,389$0$21,436,668
99$37,897,206$1,042,788$0$23,542,224
100$41,667,164$998,328$0$25,860,652