Can I retire at age 56 with 833,000?

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 $833,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16%
1 years$68,788$68,176$67,578$66,994$66,425$64,792
2 years$34,054$33,419$32,805$32,209$31,631$29,997
3 years$22,477$21,840$21,227$20,637$20,068$18,483
4 years$16,690$16,055$15,448$14,867$14,313$12,788
5 years$13,218$12,587$11,988$11,420$10,880$9,421
6 years$10,905$10,278$9,688$9,132$8,609$7,217
7 years$9,253$8,632$8,051$7,508$7,002$5,677
8 years$8,015$7,399$6,828$6,298$5,808$4,550
9 years$7,052$6,442$5,881$5,365$4,892$3,699
10 years$6,282$5,678$5,127$4,625$4,168$3,039
11 years$5,653$5,055$4,514$4,025$3,584$2,518
12 years$5,129$4,537$4,006$3,530$3,106$2,100
13 years$4,686$4,100$3,579$3,117$2,709$1,761
14 years$4,306$3,727$3,216$2,767$2,374$1,484
15 years$3,978$3,405$2,903$2,467$2,091$1,254
16 years$3,691$3,124$2,632$2,209$1,848$1,063
17 years$3,437$2,877$2,395$1,985$1,638$904
18 years$3,213$2,658$2,187$1,789$1,457$770
19 years$3,012$2,464$2,002$1,616$1,298$657
20 years$2,831$2,289$1,837$1,464$1,160$562
21 years$2,668$2,133$1,690$1,329$1,038$481
22 years$2,520$1,991$1,557$1,208$930$412
23 years$2,385$1,862$1,438$1,100$835$353
24 years$2,261$1,744$1,330$1,003$751$303
25 years$2,148$1,637$1,232$916$675$260
26 years$2,043$1,539$1,142$838$608$223
27 years$1,946$1,448$1,061$767$549$192
28 years$1,857$1,364$986$703$495$165
29 years$1,773$1,287$918$644$447$142
30 years$1,696$1,216$855$591$404$122
31 years$1,623$1,149$797$543$365$105
32 years$1,555$1,087$744$499$330$91
33 years$1,492$1,030$694$459$299$78
34 years$1,432$976$649$422$271$67
35 years$1,376$926$606$389$245$58
36 years$1,323$879$567$358$222$50
37 years$1,273$834$531$330$201$43
38 years$1,226$793$497$304$182$37
39 years$1,181$754$466$280$165$32
40 years$1,139$717$437$259$150$27
41 years$1,099$683$409$239$136$24
42 years$1,061$650$384$220$124$20
43 years$1,024$620$360$203$112$18
44 years$990$591$338$188$102$15
45 years$957$563$318$173$92$13
46 years$925$537$298$160$84$11
47 years$895$513$280$148$76$10
48 years$867$490$263$137$69$8
49 years$839$467$248$126$63$7
50 years$813$447$233$117$57$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $833,000, adding $4,899 every year, while hoping to spend $26,496 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: 77/16/7 Blend
55$833,000$833,000$833,000$833,000
56$923,019$878,870$865,959$992,928
57$988,976$893,743$866,777$1,054,400
58$1,060,772$908,457$866,734$1,117,867
59$1,138,975$922,976$865,774$1,186,674
60$1,224,210$937,261$863,837$1,261,340
61$1,317,164$951,272$860,861$1,342,439
62$1,418,595$964,964$856,779$1,430,598
63$1,529,334$978,290$851,524$1,526,513
64$1,650,299$991,199$845,023$1,630,948
65$1,782,499$1,003,638$837,201$1,744,745
66$1,927,045$1,015,547$827,979$1,868,831
67$2,085,161$1,026,867$817,274$2,004,229
68$2,258,195$1,037,530$804,999$2,152,063
69$2,447,628$1,047,466$791,064$2,313,575
70$2,655,095$1,056,601$775,374$2,490,132
71$2,882,395$1,064,855$757,829$2,683,239
72$3,131,508$1,072,142$738,325$2,894,555
73$3,404,617$1,078,372$716,754$3,125,910
74$3,704,125$1,083,449$693,002$3,379,317
75$4,032,678$1,087,270$666,949$3,656,997
76$4,393,191$1,089,726$638,472$3,961,397
77$4,788,875$1,090,702$607,440$4,295,212
78$5,223,269$1,090,074$573,718$4,661,414
79$5,700,267$1,087,713$537,162$5,063,276
80$6,224,162$1,083,478$497,625$5,504,406
81$6,799,682$1,077,224$454,951$5,988,782
82$7,432,035$1,068,794$408,978$6,520,784
83$8,126,961$1,058,023$359,536$7,105,243
84$8,890,780$1,044,735$306,450$7,747,480
85$9,730,457$1,028,745$249,533$8,453,360
86$10,653,664$1,009,854$188,593$9,229,347
87$11,668,856$987,855$123,429$10,082,565
88$12,785,346$962,527$53,831$11,020,865
89$14,013,395$933,634$0$12,052,898
90$15,364,310$900,930$0$13,189,729
91$16,850,546$864,153$0$14,444,728
92$18,485,830$823,024$0$15,825,470
93$20,285,283$777,251$0$17,344,738
94$22,265,568$726,522$0$19,016,619
95$24,445,045$670,510$0$20,856,637
96$26,843,942$608,868$0$22,881,899
97$29,484,550$541,229$0$25,111,257
98$32,391,430$467,205$0$27,565,487
99$35,591,644$386,387$0$30,267,484
100$39,115,014$298,341$0$33,242,480