Can I retire at age 56 with 840,000?

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 $840,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.7%
1 years$69,366$68,749$68,146$67,557$66,983$66,228
2 years$34,340$33,700$33,080$32,479$31,897$31,137
3 years$22,666$22,023$21,405$20,810$20,236$19,495
4 years$16,830$16,190$15,578$14,992$14,433$13,716
5 years$13,329$12,693$12,089$11,516$10,972$10,281
6 years$10,996$10,365$9,770$9,209$8,681$8,018
7 years$9,331$8,704$8,119$7,571$7,060$6,424
8 years$8,082$7,461$6,885$6,351$5,857$5,249
9 years$7,111$6,496$5,930$5,410$4,933$4,351
10 years$6,335$5,726$5,170$4,663$4,203$3,648
11 years$5,700$5,098$4,552$4,059$3,615$3,086
12 years$5,172$4,575$4,039$3,560$3,132$2,630
13 years$4,725$4,135$3,609$3,143$2,731$2,254
14 years$4,342$3,758$3,243$2,790$2,394$1,941
15 years$4,011$3,433$2,928$2,488$2,108$1,679
16 years$3,722$3,150$2,654$2,228$1,863$1,457
17 years$3,466$2,901$2,415$2,002$1,652$1,268
18 years$3,240$2,681$2,205$1,804$1,469$1,106
19 years$3,037$2,484$2,019$1,630$1,309$967
20 years$2,855$2,309$1,853$1,476$1,169$847
21 years$2,690$2,150$1,704$1,340$1,047$743
22 years$2,541$2,007$1,570$1,218$938$653
23 years$2,405$1,877$1,450$1,109$842$575
24 years$2,280$1,759$1,341$1,012$757$506
25 years$2,166$1,651$1,242$924$681$446
26 years$2,060$1,551$1,152$845$613$393
27 years$1,963$1,460$1,070$773$553$347
28 years$1,872$1,376$994$709$499$307
29 years$1,788$1,298$925$650$451$271
30 years$1,710$1,226$862$596$407$240
31 years$1,637$1,159$804$548$368$212
32 years$1,568$1,096$750$503$333$187
33 years$1,504$1,038$700$463$301$166
34 years$1,444$984$654$426$273$147
35 years$1,387$933$612$392$247$130
36 years$1,334$886$572$361$224$115
37 years$1,284$841$535$333$203$102
38 years$1,236$800$501$307$184$90
39 years$1,191$760$470$283$167$80
40 years$1,148$723$440$261$151$71
41 years$1,108$689$413$241$137$63
42 years$1,069$656$387$222$125$56
43 years$1,033$625$363$205$113$50
44 years$998$596$341$189$103$44
45 years$965$568$320$175$93$39
46 years$933$542$301$161$85$35
47 years$903$517$283$149$77$31
48 years$874$494$266$138$70$27
49 years$847$471$250$127$63$24
50 years$820$450$235$118$58$21

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $840,000, adding $6,120 every year, while hoping to spend $30,029 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: 40/45/15 Blend
55$840,000$840,000$840,000$840,000
56$931,993$887,473$874,453$964,888
57$995,105$899,008$871,796$1,000,338
58$1,063,649$910,103$868,044$1,035,276
59$1,138,146$920,702$863,129$1,072,426
60$1,219,171$930,751$856,977$1,112,005
61$1,307,356$940,187$849,516$1,154,249
62$1,403,396$948,946$840,664$1,199,423
63$1,508,057$956,959$830,341$1,247,820
64$1,622,181$964,153$818,460$1,299,762
65$1,746,696$970,448$804,930$1,355,607
66$1,882,621$975,762$789,658$1,415,751
67$2,031,080$980,006$772,543$1,480,632
68$2,193,309$983,086$753,482$1,550,735
69$2,370,670$984,900$732,367$1,626,595
70$2,564,662$985,344$709,085$1,708,806
71$2,776,934$984,303$683,517$1,798,023
72$3,009,305$981,657$655,538$1,894,971
73$3,263,775$977,279$625,019$2,000,452
74$3,542,548$971,033$591,825$2,115,353
75$3,848,050$962,776$555,814$2,240,654
76$4,182,955$952,356$516,837$2,377,438
77$4,550,206$939,611$474,741$2,526,903
78$4,953,045$924,370$429,362$2,690,373
79$5,395,043$906,452$380,534$2,869,308
80$5,880,134$885,664$328,078$3,065,327
81$6,412,650$861,804$271,811$3,280,213
82$6,997,364$834,656$211,540$3,515,941
83$7,639,534$803,993$147,066$3,774,688
84$8,344,951$769,573$78,177$4,058,861
85$9,119,995$731,141$4,655$4,371,119
86$9,971,695$688,428$0$4,714,397
87$10,907,795$641,148$0$5,103,749
88$11,936,825$588,999$0$5,532,506
89$13,068,183$531,662$0$6,003,914
90$14,312,225$468,801$0$6,522,377
91$15,680,359$400,059$0$7,092,757
92$17,185,153$325,059$0$7,720,415
93$18,840,456$243,404$0$8,411,268
94$20,661,526$154,675$0$9,171,843
95$22,665,175$58,427$0$10,009,341
96$24,869,925$0$0$10,931,706
97$27,296,186$0$0$11,970,383
98$29,966,446$0$0$13,145,488
99$32,905,483$0$0$14,439,008
100$36,140,600$0$0$15,862,977