Can I retire at age 56 with 831,000?

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 $831,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.2%
1 years$68,623$68,012$67,416$66,833$66,265$65,383
2 years$33,972$33,339$32,726$32,131$31,555$30,667
3 years$22,423$21,788$21,176$20,587$20,020$19,155
4 years$16,650$16,016$15,411$14,832$14,278$13,442
5 years$13,187$12,557$11,959$11,392$10,854$10,050
6 years$10,879$10,254$9,665$9,110$8,588$7,816
7 years$9,231$8,611$8,032$7,490$6,985$6,245
8 years$7,995$7,381$6,811$6,283$5,794$5,088
9 years$7,035$6,427$5,867$5,352$4,880$4,205
10 years$6,267$5,665$5,115$4,613$4,158$3,515
11 years$5,639$5,043$4,503$4,015$3,576$2,965
12 years$5,117$4,526$3,996$3,522$3,099$2,518
13 years$4,674$4,090$3,570$3,109$2,702$2,151
14 years$4,296$3,718$3,208$2,760$2,369$1,847
15 years$3,968$3,397$2,896$2,461$2,086$1,592
16 years$3,682$3,116$2,626$2,204$1,843$1,376
17 years$3,429$2,870$2,390$1,980$1,634$1,194
18 years$3,205$2,652$2,181$1,785$1,453$1,038
19 years$3,004$2,458$1,997$1,613$1,295$904
20 years$2,824$2,284$1,833$1,460$1,157$789
21 years$2,662$2,127$1,686$1,325$1,035$690
22 years$2,514$1,986$1,554$1,205$928$604
23 years$2,379$1,857$1,435$1,098$833$529
24 years$2,256$1,740$1,327$1,001$749$464
25 years$2,142$1,633$1,229$914$674$407
26 years$2,038$1,535$1,140$836$607$358
27 years$1,942$1,444$1,058$765$547$315
28 years$1,852$1,361$984$701$494$277
29 years$1,769$1,284$915$643$446$244
30 years$1,692$1,213$853$590$403$214
31 years$1,619$1,146$795$542$364$189
32 years$1,552$1,085$742$498$329$166
33 years$1,488$1,027$693$458$298$147
34 years$1,429$974$647$421$270$129
35 years$1,373$923$605$388$244$114
36 years$1,320$876$566$357$222$101
37 years$1,270$832$530$329$201$89
38 years$1,223$791$496$303$182$78
39 years$1,178$752$465$280$165$69
40 years$1,136$716$436$258$150$61
41 years$1,096$681$408$238$136$54
42 years$1,058$649$383$220$123$48
43 years$1,022$618$360$203$112$42
44 years$987$589$337$187$102$37
45 years$955$562$317$173$92$33
46 years$923$536$298$160$84$29
47 years$893$512$280$148$76$25
48 years$865$488$263$136$69$23
49 years$837$466$247$126$63$20
50 years$811$445$232$116$57$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $831,000, adding $4,277 every year, while hoping to spend $43,054 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: 86/8/6 Blend
55$831,000$831,000$831,000$831,000
56$920,174$876,131$863,250$998,709
57$968,222$873,252$846,360$1,047,660
58$1,019,729$868,789$827,461$1,095,062
59$1,075,001$862,619$806,440$1,145,763
60$1,134,375$854,612$783,180$1,200,062
61$1,198,222$844,628$757,557$1,258,292
62$1,266,947$832,522$729,442$1,320,819
63$1,340,997$818,137$698,700$1,388,042
64$1,420,863$801,310$665,190$1,460,405
65$1,507,082$781,865$628,765$1,538,393
66$1,600,246$759,618$589,270$1,622,544
67$1,701,005$734,373$546,545$1,713,446
68$1,810,073$705,923$500,420$1,811,749
69$1,928,237$674,050$450,721$1,918,169
70$2,056,360$638,522$397,263$2,033,493
71$2,195,393$599,093$339,855$2,158,590
72$2,346,379$555,504$278,296$2,294,416
73$2,510,467$507,482$212,377$2,442,024
74$2,688,923$454,736$141,879$2,602,574
75$2,883,136$396,962$66,576$2,777,345
76$3,094,638$333,834$0$2,967,745
77$3,325,111$265,012$0$3,176,209
78$3,576,409$190,135$0$3,408,171
79$3,850,572$108,821$0$3,661,264
80$4,149,845$20,668$0$3,937,583
81$4,476,699$0$0$4,239,435
82$4,833,854$0$0$4,575,940
83$5,224,306$0$0$4,945,816
84$5,651,353$0$0$5,350,367
85$6,118,624$0$0$5,793,035
86$6,630,118$0$0$6,277,608
87$7,190,237$0$0$6,808,259
88$7,803,830$0$0$7,389,582
89$8,476,235$0$0$8,026,637
90$9,213,333$0$0$8,724,995
91$10,021,599$0$0$9,490,795
92$10,908,166$0$0$10,330,796
93$11,880,890$0$0$11,252,443
94$12,948,425$0$0$12,263,937
95$14,120,303$0$0$13,374,311
96$15,407,023$0$0$14,593,516
97$16,820,152$0$0$15,932,514
98$18,372,431$0$0$17,403,379
99$20,077,895$0$0$19,019,413
100$21,952,009$0$0$20,795,270