Can I retire at age 56 with 837,000?

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 $837,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.1%
1 years$69,119$68,503$67,902$67,316$66,744$65,611
2 years$34,217$33,580$32,962$32,363$31,783$30,645
3 years$22,585$21,945$21,329$20,736$20,164$19,057
4 years$16,770$16,132$15,522$14,939$14,381$13,313
5 years$13,282$12,648$12,046$11,474$10,932$9,906
6 years$10,957$10,328$9,735$9,176$8,650$7,667
7 years$9,297$8,673$8,090$7,544$7,035$6,096
8 years$8,053$7,434$6,861$6,329$5,836$4,940
9 years$7,086$6,473$5,909$5,391$4,915$4,062
10 years$6,312$5,706$5,152$4,647$4,188$3,376
11 years$5,680$5,079$4,535$4,044$3,602$2,832
12 years$5,153$4,559$4,025$3,547$3,121$2,391
13 years$4,708$4,120$3,596$3,132$2,722$2,031
14 years$4,327$3,745$3,231$2,780$2,386$1,733
15 years$3,997$3,421$2,917$2,479$2,101$1,484
16 years$3,708$3,139$2,645$2,220$1,857$1,276
17 years$3,454$2,891$2,407$1,995$1,646$1,099
18 years$3,228$2,671$2,197$1,797$1,464$949
19 years$3,026$2,476$2,011$1,624$1,305$822
20 years$2,845$2,300$1,846$1,471$1,165$712
21 years$2,681$2,143$1,698$1,335$1,043$618
22 years$2,532$2,000$1,565$1,214$935$538
23 years$2,396$1,871$1,445$1,105$839$468
24 years$2,272$1,753$1,336$1,008$754$407
25 years$2,158$1,645$1,238$921$679$355
26 years$2,053$1,546$1,148$842$611$310
27 years$1,956$1,455$1,066$771$551$270
28 years$1,865$1,371$991$706$497$236
29 years$1,782$1,293$922$647$449$206
30 years$1,704$1,221$859$594$406$180
31 years$1,631$1,155$801$546$367$158
32 years$1,563$1,093$747$502$332$138
33 years$1,499$1,035$698$461$300$121
34 years$1,439$981$652$424$272$106
35 years$1,383$930$609$391$246$92
36 years$1,329$883$570$360$223$81
37 years$1,279$838$534$331$202$71
38 years$1,232$797$500$306$183$62
39 years$1,187$758$468$282$166$54
40 years$1,144$721$439$260$151$48
41 years$1,104$686$411$240$137$42
42 years$1,066$654$386$221$124$36
43 years$1,029$623$362$204$113$32
44 years$994$594$340$189$102$28
45 years$961$566$319$174$93$25
46 years$930$540$300$161$84$21
47 years$900$515$282$149$77$19
48 years$871$492$265$137$70$16
49 years$844$470$249$127$63$14
50 years$817$449$234$117$57$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $837,000, adding $2,562 every year, while hoping to spend $27,412 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: 81/10/9 Blend
55$837,000$837,000$837,000$837,000
56$925,017$880,656$867,682$998,537
57$990,202$894,642$867,583$1,061,061
58$1,061,118$908,394$866,563$1,125,793
59$1,138,319$921,873$864,560$1,196,018
60$1,222,418$935,035$861,513$1,272,271
61$1,314,086$947,833$857,355$1,355,143
62$1,414,064$960,218$852,018$1,445,283
63$1,523,168$972,138$845,429$1,543,405
64$1,642,293$983,534$837,513$1,650,298
65$1,772,427$994,348$828,190$1,766,829
66$1,914,658$1,004,514$817,377$1,893,955
67$2,070,182$1,013,964$804,988$2,032,727
68$2,240,316$1,022,624$790,931$2,184,307
69$2,426,512$1,030,416$775,111$2,349,971
70$2,630,366$1,037,257$757,427$2,531,130
71$2,853,639$1,043,058$737,777$2,729,333
72$3,098,268$1,047,725$716,050$2,946,290
73$3,366,385$1,051,158$692,132$3,183,885
74$3,660,342$1,053,250$665,903$3,444,193
75$3,982,725$1,053,888$637,240$3,729,501
76$4,336,387$1,052,952$606,010$4,042,328
77$4,724,465$1,050,313$572,079$4,385,452
78$5,150,419$1,045,837$535,302$4,761,931
79$5,618,058$1,039,380$495,531$5,175,138
80$6,131,579$1,030,788$452,610$5,628,788
81$6,695,604$1,019,901$406,377$6,126,975
82$7,315,226$1,006,546$356,660$6,674,212
83$7,996,054$990,542$303,283$7,275,469
84$8,744,268$971,696$246,061$7,936,228
85$9,566,679$949,803$184,798$8,662,525
86$10,470,785$924,649$119,294$9,461,015
87$11,464,852$896,004$49,338$10,339,032
88$12,557,984$863,625$0$11,304,656
89$13,760,213$827,258$0$12,369,226
90$15,082,591$786,629$0$13,545,339
91$16,537,295$741,453$0$14,839,091
92$18,137,741$691,427$0$16,262,427
93$19,898,712$636,228$0$17,828,508
94$21,836,496$575,519$0$19,551,838
95$23,969,041$508,941$0$21,448,398
96$26,316,119$436,115$0$23,535,800
97$28,899,519$356,641$0$25,833,450
98$31,743,250$270,096$0$28,362,735
99$34,873,764$176,034$0$31,147,220
100$38,320,212$73,983$0$34,212,874