Can I retire at age 56 with 832,000?

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 $832,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.3%
1 years$68,706$68,094$67,497$66,914$66,345$65,434
2 years$34,013$33,379$32,765$32,170$31,593$30,677
3 years$22,450$21,814$21,201$20,612$20,044$19,151
4 years$16,670$16,035$15,429$14,850$14,295$13,433
5 years$13,202$12,572$11,974$11,406$10,867$10,038
6 years$10,892$10,266$9,677$9,121$8,599$7,803
7 years$9,242$8,621$8,041$7,499$6,993$6,231
8 years$8,005$7,390$6,820$6,291$5,801$5,073
9 years$7,043$6,434$5,874$5,358$4,886$4,191
10 years$6,275$5,672$5,121$4,619$4,163$3,501
11 years$5,646$5,049$4,508$4,020$3,580$2,951
12 years$5,123$4,532$4,001$3,526$3,103$2,505
13 years$4,680$4,095$3,575$3,113$2,705$2,138
14 years$4,301$3,723$3,212$2,763$2,372$1,834
15 years$3,973$3,401$2,900$2,464$2,088$1,580
16 years$3,686$3,120$2,629$2,207$1,845$1,365
17 years$3,433$2,873$2,392$1,983$1,636$1,183
18 years$3,209$2,655$2,184$1,787$1,455$1,028
19 years$3,008$2,461$1,999$1,614$1,297$895
20 years$2,828$2,287$1,835$1,462$1,158$780
21 years$2,665$2,130$1,688$1,327$1,037$682
22 years$2,517$1,988$1,555$1,207$929$596
23 years$2,382$1,860$1,436$1,099$834$522
24 years$2,258$1,742$1,328$1,002$750$457
25 years$2,145$1,635$1,230$915$675$401
26 years$2,041$1,537$1,141$837$608$352
27 years$1,944$1,446$1,060$766$548$309
28 years$1,854$1,363$985$702$494$272
29 years$1,771$1,286$917$644$446$239
30 years$1,694$1,214$854$591$403$210
31 years$1,621$1,148$796$542$365$185
32 years$1,553$1,086$743$499$330$163
33 years$1,490$1,028$693$458$299$144
34 years$1,430$975$648$422$270$127
35 years$1,374$925$606$388$245$111
36 years$1,321$878$567$358$222$98
37 years$1,272$833$530$330$201$87
38 years$1,224$792$497$304$182$76
39 years$1,180$753$465$280$165$67
40 years$1,137$717$436$258$150$59
41 years$1,097$682$409$238$136$52
42 years$1,059$650$384$220$123$46
43 years$1,023$619$360$203$112$41
44 years$989$590$338$187$102$36
45 years$956$563$317$173$92$32
46 years$924$537$298$160$84$28
47 years$894$512$280$148$76$25
48 years$866$489$263$137$69$22
49 years$838$467$247$126$63$19
50 years$812$446$232$117$57$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $832,000, adding $5,460 every year, while hoping to spend $26,007 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: 33/48/19 Blend
55$832,000$832,000$832,000$832,000
56$922,496$878,400$865,504$947,364
57$988,919$893,770$866,827$981,635
58$1,061,246$909,022$867,323$1,015,769
59$1,140,051$924,122$866,936$1,052,012
60$1,225,967$939,035$865,609$1,090,563
61$1,319,690$953,722$863,281$1,131,645
62$1,421,985$968,141$859,888$1,175,503
63$1,533,697$982,249$855,364$1,222,408
64$1,655,754$995,999$849,638$1,272,661
65$1,789,177$1,009,339$842,637$1,326,593
66$1,935,092$1,022,216$834,285$1,384,571
67$2,094,739$1,034,572$824,500$1,447,001
68$2,269,481$1,046,344$813,200$1,514,332
69$2,460,820$1,057,468$800,294$1,587,059
70$2,670,411$1,067,871$785,692$1,665,730
71$2,900,077$1,077,480$769,296$1,750,952
72$3,151,822$1,086,214$751,005$1,843,393
73$3,427,858$1,093,989$730,713$1,943,795
74$3,730,617$1,100,712$708,310$2,052,973
75$4,062,781$1,106,288$683,680$2,171,833
76$4,427,303$1,110,614$656,701$2,301,372
77$4,827,435$1,113,581$627,247$2,442,694
78$5,266,759$1,115,073$595,186$2,597,017
79$5,749,222$1,114,965$560,379$2,765,687
80$6,279,173$1,113,128$522,681$2,950,191
81$6,861,399$1,109,422$481,942$3,152,170
82$7,501,178$1,103,700$438,002$3,373,440
83$8,204,321$1,095,804$390,699$3,616,001
84$8,977,233$1,085,570$339,858$3,882,065
85$9,826,968$1,072,820$285,301$4,174,075
86$10,761,298$1,057,368$226,838$4,494,725
87$11,788,788$1,039,016$164,275$4,846,993
88$12,918,872$1,017,556$97,405$5,234,162
89$14,161,944$992,763$26,016$5,659,861
90$15,529,459$964,405$0$6,128,092
91$17,034,034$932,231$0$6,653,444
92$18,689,573$895,979$0$7,236,911
93$20,511,397$855,369$0$7,878,645
94$22,516,385$810,107$0$8,584,635
95$24,723,136$759,882$0$9,361,488
96$27,152,143$704,363$0$10,216,490
97$29,825,986$643,202$0$11,157,676
98$32,769,548$576,030$0$12,193,909
99$36,010,245$502,458$0$13,334,963
100$39,578,286$422,075$0$14,591,616