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%15.4%
1 years$68,788$68,176$67,578$66,994$66,425$64,951
2 years$34,054$33,419$32,805$32,209$31,631$30,154
3 years$22,477$21,840$21,227$20,637$20,068$18,633
4 years$16,690$16,055$15,448$14,867$14,313$12,932
5 years$13,218$12,587$11,988$11,420$10,880$9,557
6 years$10,905$10,278$9,688$9,132$8,609$7,345
7 years$9,253$8,632$8,051$7,508$7,002$5,797
8 years$8,015$7,399$6,828$6,298$5,808$4,663
9 years$7,052$6,442$5,881$5,365$4,892$3,804
10 years$6,282$5,678$5,127$4,625$4,168$3,137
11 years$5,653$5,055$4,514$4,025$3,584$2,609
12 years$5,129$4,537$4,006$3,530$3,106$2,185
13 years$4,686$4,100$3,579$3,117$2,709$1,840
14 years$4,306$3,727$3,216$2,767$2,374$1,556
15 years$3,978$3,405$2,903$2,467$2,091$1,321
16 years$3,691$3,124$2,632$2,209$1,848$1,125
17 years$3,437$2,877$2,395$1,985$1,638$960
18 years$3,213$2,658$2,187$1,789$1,457$822
19 years$3,012$2,464$2,002$1,616$1,298$704
20 years$2,831$2,289$1,837$1,464$1,160$605
21 years$2,668$2,133$1,690$1,329$1,038$520
22 years$2,520$1,991$1,557$1,208$930$447
23 years$2,385$1,862$1,438$1,100$835$385
24 years$2,261$1,744$1,330$1,003$751$332
25 years$2,148$1,637$1,232$916$675$287
26 years$2,043$1,539$1,142$838$608$247
27 years$1,946$1,448$1,061$767$549$214
28 years$1,857$1,364$986$703$495$185
29 years$1,773$1,287$918$644$447$160
30 years$1,696$1,216$855$591$404$138
31 years$1,623$1,149$797$543$365$119
32 years$1,555$1,087$744$499$330$103
33 years$1,492$1,030$694$459$299$89
34 years$1,432$976$649$422$271$77
35 years$1,376$926$606$389$245$67
36 years$1,323$879$567$358$222$58
37 years$1,273$834$531$330$201$50
38 years$1,226$793$497$304$182$43
39 years$1,181$754$466$280$165$38
40 years$1,139$717$437$259$150$33
41 years$1,099$683$409$239$136$28
42 years$1,061$650$384$220$124$24
43 years$1,024$620$360$203$112$21
44 years$990$591$338$188$102$18
45 years$957$563$318$173$92$16
46 years$925$537$298$160$84$14
47 years$895$513$280$148$76$12
48 years$867$490$263$137$69$10
49 years$839$467$248$126$63$9
50 years$813$447$233$117$57$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $833,000, adding $5,753 every year, while hoping to spend $40,250 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: 58/24/18 Blend
55$833,000$833,000$833,000$833,000
56$923,900$879,751$866,840$972,808
57$975,312$880,033$853,053$1,006,927
58$1,030,620$878,980$837,456$1,039,214
59$1,090,177$876,484$819,944$1,073,501
60$1,154,373$872,430$800,411$1,109,989
61$1,223,637$866,697$778,743$1,148,900
62$1,298,439$859,156$754,821$1,190,479
63$1,379,295$849,670$728,523$1,235,000
64$1,466,773$838,095$699,719$1,282,765
65$1,561,499$824,276$668,274$1,334,110
66$1,664,157$808,051$634,047$1,389,406
67$1,775,503$789,247$596,890$1,449,065
68$1,896,367$767,683$556,648$1,513,543
69$2,027,662$743,165$513,161$1,583,344
70$2,170,391$715,488$466,260$1,659,029
71$2,325,660$684,436$415,769$1,741,215
72$2,494,684$649,780$361,503$1,830,589
73$2,678,800$611,277$303,272$1,927,908
74$2,879,481$568,673$240,874$2,034,011
75$3,098,345$521,695$174,101$2,149,827
76$3,337,176$470,057$102,733$2,276,383
77$3,597,935$413,458$26,542$2,414,814
78$3,882,784$351,576$0$2,566,376
79$4,194,100$284,076$0$2,742,978
80$4,534,501$210,598$0$2,941,759
81$4,906,870$130,768$0$3,159,364
82$5,314,381$44,185$0$3,397,721
83$5,760,529$0$0$3,658,958
84$6,249,163$0$0$3,958,513
85$6,784,520$0$0$4,299,568
86$7,371,269$0$0$4,673,434
87$8,014,551$0$0$5,083,398
88$8,720,027$0$0$5,533,075
89$9,493,933$0$0$6,026,452
90$10,343,138$0$0$6,567,917
91$11,275,208$0$0$7,162,304
92$12,298,477$0$0$7,814,939
93$13,422,125$0$0$8,531,689
94$14,656,265$0$0$9,319,015
95$16,012,037$0$0$10,184,037
96$17,501,714$0$0$11,134,597
97$19,138,817$0$0$12,179,336
98$20,938,240$0$0$13,327,772
99$22,916,392$0$0$14,590,392
100$25,091,354$0$0$15,978,750