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%16.6%
1 years$68,541$67,930$67,334$66,753$66,185$64,403
2 years$33,931$33,299$32,687$32,093$31,517$29,733
3 years$22,396$21,761$21,150$20,562$19,996$18,267
4 years$16,630$15,997$15,392$14,814$14,261$12,601
5 years$13,171$12,542$11,945$11,378$10,841$9,254
6 years$10,865$10,241$9,653$9,099$8,578$7,066
7 years$9,220$8,601$8,022$7,481$6,976$5,539
8 years$7,986$7,372$6,803$6,276$5,788$4,424
9 years$7,026$6,419$5,860$5,346$4,874$3,583
10 years$6,260$5,658$5,109$4,608$4,153$2,933
11 years$5,633$5,037$4,497$4,010$3,572$2,421
12 years$5,110$4,521$3,991$3,518$3,095$2,011
13 years$4,669$4,086$3,566$3,105$2,699$1,680
14 years$4,291$3,714$3,204$2,757$2,366$1,409
15 years$3,963$3,393$2,893$2,458$2,083$1,186
16 years$3,677$3,113$2,623$2,201$1,841$1,002
17 years$3,425$2,867$2,387$1,978$1,632$848
18 years$3,201$2,649$2,179$1,782$1,451$719
19 years$3,001$2,455$1,995$1,611$1,294$611
20 years$2,821$2,281$1,830$1,459$1,156$520
21 years$2,658$2,125$1,684$1,324$1,034$443
22 years$2,511$1,983$1,552$1,204$927$377
23 years$2,376$1,855$1,433$1,096$832$322
24 years$2,253$1,738$1,325$1,000$748$275
25 years$2,140$1,631$1,227$913$673$235
26 years$2,036$1,533$1,138$835$606$201
27 years$1,939$1,443$1,057$764$547$172
28 years$1,850$1,359$983$700$493$147
29 years$1,767$1,283$914$642$445$126
30 years$1,690$1,211$852$589$402$108
31 years$1,617$1,145$794$541$364$92
32 years$1,550$1,083$741$497$329$79
33 years$1,486$1,026$692$457$298$68
34 years$1,427$972$646$421$270$58
35 years$1,371$922$604$387$244$50
36 years$1,318$875$565$357$221$43
37 years$1,268$831$529$329$201$37
38 years$1,221$790$495$303$182$31
39 years$1,177$751$464$279$165$27
40 years$1,135$715$435$258$150$23
41 years$1,095$680$408$238$136$20
42 years$1,057$648$383$219$123$17
43 years$1,021$617$359$203$112$15
44 years$986$589$337$187$101$12
45 years$953$561$317$173$92$11
46 years$922$535$297$160$84$9
47 years$892$511$279$147$76$8
48 years$864$488$262$136$69$7
49 years$836$466$247$126$63$6
50 years$810$445$232$116$57$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $830,000, adding $3,043 every year, while hoping to spend $32,423 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: 57/32/11 Blend
55$830,000$830,000$830,000$830,000
56$917,799$873,809$860,944$967,459
57$976,917$882,128$855,288$1,009,660
58$1,040,977$889,767$848,355$1,051,760
59$1,110,452$896,661$840,070$1,096,858
60$1,185,856$902,735$830,350$1,145,247
61$1,267,759$907,915$819,113$1,197,247
62$1,356,786$912,118$806,269$1,253,215
63$1,453,625$915,259$791,725$1,313,542
64$1,559,032$917,244$775,386$1,378,663
65$1,673,841$917,977$757,149$1,449,056
66$1,798,968$917,352$736,908$1,525,250
67$1,935,421$915,261$714,552$1,607,830
68$2,084,310$911,585$689,966$1,697,439
69$2,246,857$906,200$663,028$1,794,790
70$2,424,408$898,975$633,611$1,900,669
71$2,618,443$889,770$601,582$2,015,945
72$2,830,591$878,436$566,802$2,141,575
73$3,062,648$864,817$529,127$2,278,619
74$3,316,591$848,745$488,405$2,428,244
75$3,594,594$830,044$444,477$2,591,741
76$3,899,055$808,528$397,179$2,770,532
77$4,232,611$783,999$346,338$2,966,190
78$4,598,170$756,248$291,773$3,180,450
79$4,998,931$725,052$233,295$3,415,226
80$5,438,420$690,178$170,709$3,672,632
81$5,920,520$651,377$103,808$3,954,999
82$6,449,506$608,387$32,378$4,264,903
83$7,030,089$560,932$0$4,605,182
84$7,667,457$508,717$0$4,984,119
85$8,367,327$451,433$0$5,404,415
86$9,135,994$388,752$0$5,866,111
87$9,980,393$320,329$0$6,373,448
88$10,908,166$245,798$0$6,931,101
89$11,927,730$164,773$0$7,544,228
90$13,048,357$76,846$0$8,218,517
91$14,280,264$0$0$8,960,241
92$15,634,707$0$0$9,782,801
93$17,124,085$0$0$10,717,143
94$18,762,060$0$0$11,744,786
95$20,563,686$0$0$12,875,187
96$22,545,546$0$0$14,118,759
97$24,725,914$0$0$15,486,981
98$27,124,922$0$0$16,992,496
99$29,764,753$0$0$18,649,239
100$32,669,849$0$0$20,472,559