Can I retire at age 56 with 830,000?

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 $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%18.1%
1 years$68,541$67,930$67,334$66,753$66,185$64,015
2 years$33,931$33,299$32,687$32,093$31,517$29,351
3 years$22,396$21,761$21,150$20,562$19,996$17,903
4 years$16,630$15,997$15,392$14,814$14,261$12,257
5 years$13,171$12,542$11,945$11,378$10,841$8,930
6 years$10,865$10,241$9,653$9,099$8,578$6,763
7 years$9,220$8,601$8,022$7,481$6,976$5,256
8 years$7,986$7,372$6,803$6,276$5,788$4,161
9 years$7,026$6,419$5,860$5,346$4,874$3,340
10 years$6,260$5,658$5,109$4,608$4,153$2,708
11 years$5,633$5,037$4,497$4,010$3,572$2,214
12 years$5,110$4,521$3,991$3,518$3,095$1,821
13 years$4,669$4,086$3,566$3,105$2,699$1,506
14 years$4,291$3,714$3,204$2,757$2,366$1,250
15 years$3,963$3,393$2,893$2,458$2,083$1,041
16 years$3,677$3,113$2,623$2,201$1,841$870
17 years$3,425$2,867$2,387$1,978$1,632$728
18 years$3,201$2,649$2,179$1,782$1,451$611
19 years$3,001$2,455$1,995$1,611$1,294$513
20 years$2,821$2,281$1,830$1,459$1,156$431
21 years$2,658$2,125$1,684$1,324$1,034$363
22 years$2,511$1,983$1,552$1,204$927$306
23 years$2,376$1,855$1,433$1,096$832$258
24 years$2,253$1,738$1,325$1,000$748$218
25 years$2,140$1,631$1,227$913$673$184
26 years$2,036$1,533$1,138$835$606$155
27 years$1,939$1,443$1,057$764$547$131
28 years$1,850$1,359$983$700$493$111
29 years$1,767$1,283$914$642$445$94
30 years$1,690$1,211$852$589$402$79
31 years$1,617$1,145$794$541$364$67
32 years$1,550$1,083$741$497$329$57
33 years$1,486$1,026$692$457$298$48
34 years$1,427$972$646$421$270$41
35 years$1,371$922$604$387$244$34
36 years$1,318$875$565$357$221$29
37 years$1,268$831$529$329$201$25
38 years$1,221$790$495$303$182$21
39 years$1,177$751$464$279$165$18
40 years$1,135$715$435$258$150$15
41 years$1,095$680$408$238$136$13
42 years$1,057$648$383$219$123$11
43 years$1,021$617$359$203$112$9
44 years$986$589$337$187$101$8
45 years$953$561$317$173$92$7
46 years$922$535$297$160$84$6
47 years$892$511$279$147$76$5
48 years$864$488$262$136$69$4
49 years$836$466$247$126$63$3
50 years$810$445$232$116$57$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $830,000, adding $6,172 every year, while hoping to spend $52,348 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: 82/5/13 Blend
55$830,000$830,000$830,000$830,000
56$921,026$877,036$864,171$993,807
57$959,273$864,313$837,423$1,029,721
58$999,667$849,212$808,025$1,061,638
59$1,042,371$831,562$775,831$1,095,140
60$1,087,564$811,179$740,693$1,130,357
61$1,135,441$787,873$702,452$1,167,434
62$1,186,215$761,438$660,943$1,206,532
63$1,240,120$731,659$615,995$1,247,827
64$1,297,409$698,307$567,428$1,291,513
65$1,358,362$661,142$515,055$1,337,804
66$1,423,284$619,907$458,678$1,386,936
67$1,492,508$574,332$398,093$1,439,169
68$1,566,401$524,131$333,086$1,494,791
69$1,645,363$469,002$263,434$1,554,118
70$1,729,834$408,627$188,902$1,617,499
71$1,820,295$342,668$109,249$1,685,319
72$1,917,275$270,768$24,218$1,758,003
73$2,021,353$192,552$0$1,836,020
74$2,133,164$107,621$0$1,929,114
75$2,253,409$15,555$0$2,032,812
76$2,382,852$0$0$2,144,421
77$2,522,335$0$0$2,269,303
78$2,672,784$0$0$2,404,940
79$2,835,213$0$0$2,551,393
80$3,010,738$0$0$2,709,671
81$3,200,587$0$0$2,880,880
82$3,406,107$0$0$3,066,241
83$3,628,780$0$0$3,267,090
84$3,870,237$0$0$3,484,901
85$4,132,269$0$0$3,721,293
86$4,416,847$0$0$3,978,046
87$4,726,139$0$0$4,257,119
88$5,062,530$0$0$4,560,667
89$5,428,644$0$0$4,891,061
90$5,827,369$0$0$5,250,908
91$6,261,881$0$0$5,643,080
92$6,735,677$0$0$6,070,736
93$7,252,606$0$0$6,537,353
94$7,816,903$0$0$7,046,758
95$8,433,231$0$0$7,603,164
96$9,106,723$0$0$8,211,209
97$9,843,030$0$0$8,875,999
98$10,648,375$0$0$9,603,156
99$11,529,607$0$0$10,398,869
100$12,494,270$0$0$11,269,956