Can I retire at age 56 with 839,000?

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 $839,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.6%
1 years$69,284$68,667$68,065$67,477$66,903$65,365
2 years$34,299$33,660$33,041$32,441$31,859$30,318
3 years$22,639$21,997$21,380$20,785$20,212$18,717
4 years$16,810$16,170$15,559$14,975$14,416$12,977
5 years$13,313$12,678$12,074$11,502$10,959$9,580
6 years$10,983$10,352$9,758$9,198$8,671$7,355
7 years$9,320$8,694$8,109$7,562$7,052$5,798
8 years$8,072$7,452$6,877$6,344$5,850$4,658
9 years$7,103$6,489$5,923$5,404$4,927$3,796
10 years$6,327$5,719$5,164$4,658$4,198$3,126
11 years$5,694$5,092$4,546$4,054$3,610$2,597
12 years$5,166$4,570$4,035$3,556$3,129$2,172
13 years$4,720$4,130$3,605$3,139$2,728$1,826
14 years$4,337$3,754$3,239$2,787$2,392$1,543
15 years$4,006$3,429$2,924$2,485$2,106$1,308
16 years$3,717$3,146$2,651$2,225$1,861$1,112
17 years$3,462$2,898$2,413$1,999$1,650$948
18 years$3,236$2,678$2,202$1,802$1,467$810
19 years$3,033$2,482$2,016$1,628$1,308$693
20 years$2,851$2,306$1,850$1,475$1,168$594
21 years$2,687$2,148$1,702$1,338$1,045$510
22 years$2,538$2,005$1,569$1,217$937$438
23 years$2,402$1,875$1,448$1,108$841$377
24 years$2,277$1,757$1,339$1,011$756$324
25 years$2,163$1,649$1,241$923$680$279
26 years$2,058$1,550$1,151$844$613$241
27 years$1,960$1,458$1,068$772$552$208
28 years$1,870$1,374$993$708$498$179
29 years$1,786$1,296$924$649$450$155
30 years$1,708$1,224$861$596$407$133
31 years$1,635$1,157$803$547$368$115
32 years$1,567$1,095$749$503$333$100
33 years$1,503$1,037$699$462$301$86
34 years$1,442$983$653$425$273$74
35 years$1,386$932$611$392$247$64
36 years$1,333$885$571$361$224$56
37 years$1,282$840$535$332$203$48
38 years$1,235$799$501$306$184$41
39 years$1,190$760$469$282$167$36
40 years$1,147$723$440$260$151$31
41 years$1,107$688$412$240$137$27
42 years$1,068$655$387$222$124$23
43 years$1,032$624$363$205$113$20
44 years$997$595$341$189$103$17
45 years$964$567$320$175$93$15
46 years$932$541$300$161$84$13
47 years$902$517$282$149$77$11
48 years$873$493$265$138$70$10
49 years$846$471$249$127$63$8
50 years$819$450$234$118$57$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $839,000, adding $6,978 every year, while hoping to spend $21,424 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: 53/31/16 Blend
55$839,000$839,000$839,000$839,000
56$931,776$887,309$874,304$976,795
57$1,004,022$907,992$880,799$1,029,029
58$1,082,919$928,971$886,792$1,082,976
59$1,169,123$950,236$892,246$1,141,197
60$1,263,356$971,780$897,119$1,204,103
61$1,366,413$993,592$901,366$1,272,149
62$1,479,168$1,015,659$904,944$1,345,833
63$1,602,586$1,037,970$907,802$1,425,707
64$1,737,728$1,060,508$909,892$1,512,377
65$1,885,762$1,083,259$911,159$1,606,512
66$2,047,976$1,106,204$911,548$1,708,849
67$2,225,786$1,129,325$911,002$1,820,200
68$2,420,753$1,152,599$909,457$1,941,459
69$2,634,597$1,176,003$906,851$2,073,612
70$2,869,212$1,199,513$903,116$2,217,746
71$3,126,682$1,223,100$898,182$2,375,059
72$3,409,306$1,246,734$891,973$2,546,870
73$3,719,614$1,270,383$884,413$2,734,634
74$4,060,395$1,294,012$875,421$2,939,955
75$4,434,718$1,317,582$864,911$3,164,600
76$4,845,968$1,341,051$852,793$3,410,516
77$5,297,870$1,364,377$838,976$3,679,851
78$5,794,532$1,387,510$823,360$3,974,971
79$6,340,475$1,410,399$805,844$4,298,485
80$6,940,685$1,432,990$786,321$4,653,267
81$7,600,650$1,455,222$764,678$5,042,487
82$8,326,421$1,477,032$740,799$5,469,637
83$9,124,660$1,498,351$714,561$5,938,567
84$10,002,712$1,519,107$685,835$6,453,522
85$10,968,667$1,539,221$654,489$7,019,178
86$12,031,438$1,558,610$620,381$7,640,692
87$13,200,846$1,577,183$583,365$8,323,748
88$14,487,713$1,594,846$543,289$9,074,608
89$15,903,963$1,611,496$499,992$9,900,178
90$17,462,733$1,627,025$453,307$10,808,068
91$19,178,499$1,641,317$403,061$11,806,666
92$21,067,212$1,654,248$349,070$12,905,219
93$23,146,448$1,665,687$291,144$14,113,917
94$25,435,573$1,675,493$229,084$15,443,994
95$27,955,927$1,683,517$162,684$16,907,830
96$30,731,024$1,689,602$91,726$18,519,072
97$33,786,773$1,693,577$15,984$20,292,761
98$37,151,727$1,695,265$0$22,245,475
99$40,857,344$1,694,474$0$24,406,556
100$44,938,293$1,691,004$0$26,788,707