Can I retire at age 56 with 834,000?

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 $834,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.4%
1 years$68,871$68,257$67,659$67,075$66,504$65,837
2 years$34,095$33,460$32,844$32,247$31,669$30,997
3 years$22,504$21,866$21,252$20,661$20,092$19,436
4 years$16,710$16,074$15,466$14,885$14,330$13,695
5 years$13,234$12,602$12,002$11,433$10,893$10,281
6 years$10,918$10,291$9,700$9,143$8,619$8,031
7 years$9,264$8,642$8,061$7,517$7,010$6,446
8 years$8,024$7,408$6,836$6,306$5,815$5,275
9 years$7,060$6,450$5,888$5,371$4,897$4,381
10 years$6,290$5,685$5,133$4,630$4,173$3,680
11 years$5,660$5,061$4,519$4,030$3,589$3,119
12 years$5,135$4,543$4,011$3,535$3,110$2,662
13 years$4,691$4,105$3,583$3,120$2,712$2,286
14 years$4,311$3,732$3,220$2,770$2,377$1,973
15 years$3,982$3,409$2,907$2,470$2,093$1,710
16 years$3,695$3,128$2,635$2,212$1,850$1,487
17 years$3,441$2,880$2,398$1,987$1,640$1,297
18 years$3,216$2,662$2,189$1,791$1,458$1,134
19 years$3,015$2,467$2,004$1,618$1,300$994
20 years$2,835$2,292$1,839$1,466$1,161$872
21 years$2,671$2,135$1,692$1,330$1,039$767
22 years$2,523$1,993$1,559$1,209$931$675
23 years$2,388$1,864$1,440$1,102$836$595
24 years$2,264$1,746$1,331$1,005$751$526
25 years$2,150$1,639$1,233$918$676$464
26 years$2,045$1,540$1,144$839$609$410
27 years$1,949$1,450$1,062$768$549$363
28 years$1,859$1,366$987$704$496$322
29 years$1,775$1,289$919$645$447$285
30 years$1,698$1,217$856$592$404$252
31 years$1,625$1,151$798$544$366$224
32 years$1,557$1,089$744$500$331$199
33 years$1,494$1,031$695$460$299$176
34 years$1,434$977$649$423$271$156
35 years$1,378$927$607$389$245$139
36 years$1,325$880$568$358$222$123
37 years$1,275$835$532$330$202$109
38 years$1,227$794$498$304$183$97
39 years$1,183$755$466$281$166$86
40 years$1,140$718$437$259$150$77
41 years$1,100$684$410$239$136$68
42 years$1,062$651$385$220$124$61
43 years$1,025$620$361$204$112$54
44 years$991$591$339$188$102$48
45 years$958$564$318$174$93$43
46 years$927$538$299$160$84$38
47 years$897$513$281$148$76$34
48 years$868$490$264$137$69$30
49 years$840$468$248$126$63$27
50 years$814$447$233$117$57$24

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $834,000, adding $2,289 every year, while hoping to spend $27,117 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: 60/14/26 Blend
55$834,000$834,000$834,000$834,000
56$921,429$877,227$864,300$970,143
57$986,563$891,359$864,402$1,017,709
58$1,057,431$905,274$863,598$1,066,464
59$1,134,590$918,934$861,830$1,119,085
60$1,218,653$932,296$859,036$1,175,953
61$1,310,292$945,316$855,150$1,237,489
62$1,410,250$957,944$850,106$1,304,160
63$1,519,342$970,130$843,831$1,376,477
64$1,638,467$981,819$836,252$1,455,006
65$1,768,614$992,951$827,289$1,540,372
66$1,910,870$1,003,463$816,861$1,633,263
67$2,066,436$1,013,290$804,883$1,734,439
68$2,236,630$1,022,358$791,263$1,844,739
69$2,422,905$1,030,592$775,910$1,965,086
70$2,626,861$1,037,912$758,723$2,096,500
71$2,850,261$1,044,230$739,600$2,240,105
72$3,095,045$1,049,454$718,434$2,397,144
73$3,363,349$1,053,487$695,111$2,568,983
74$3,657,528$1,056,225$669,515$2,757,133
75$3,980,173$1,057,557$641,521$2,963,257
76$4,334,140$1,057,366$611,000$3,189,193
77$4,722,572$1,055,528$577,820$3,436,964
78$5,148,936$1,051,910$541,837$3,708,805
79$5,617,044$1,046,371$502,906$4,007,178
80$6,131,102$1,038,762$460,873$4,334,799
81$6,695,739$1,028,926$415,577$4,694,663
82$7,316,056$1,016,695$366,850$5,090,074
83$7,997,672$1,001,891$314,518$5,524,674
84$8,746,777$984,326$258,396$6,002,478
85$9,570,191$963,801$198,295$6,527,917
86$10,475,427$940,104$134,015$7,105,872
87$11,470,764$913,012$65,347$7,741,730
88$12,565,320$882,288$0$8,441,426
89$13,769,144$847,681$0$9,213,708
90$15,093,306$808,927$0$10,083,082
91$16,550,004$765,745$0$11,039,423
92$18,152,675$717,838$0$12,091,573
93$19,916,129$664,892$0$13,249,277
94$21,856,678$606,576$0$14,523,271
95$23,992,301$542,540$0$15,925,391
96$26,342,804$472,413$0$17,468,677
97$28,930,011$395,802$0$19,167,503
98$31,777,972$312,296$0$21,037,708
99$34,913,183$221,456$0$23,096,747
100$38,364,842$122,822$0$25,363,856