Can I retire at age 56 with 841,000?

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 $841,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.6%
1 years$69,449$68,830$68,227$67,638$67,063$66,060
2 years$34,381$33,740$33,120$32,518$31,935$30,927
3 years$22,693$22,050$21,431$20,835$20,261$19,279
4 years$16,850$16,209$15,596$15,010$14,450$13,502
5 years$13,345$12,708$12,103$11,529$10,985$10,073
6 years$11,009$10,377$9,781$9,220$8,692$7,818
7 years$9,342$8,715$8,128$7,580$7,069$6,233
8 years$8,091$7,470$6,893$6,359$5,864$5,066
9 years$7,120$6,504$5,937$5,416$4,939$4,177
10 years$6,343$5,733$5,176$4,669$4,208$3,483
11 years$5,707$5,104$4,557$4,063$3,619$2,930
12 years$5,178$4,581$4,044$3,564$3,136$2,483
13 years$4,731$4,140$3,613$3,147$2,735$2,115
14 years$4,348$3,763$3,247$2,793$2,397$1,811
15 years$4,016$3,437$2,931$2,491$2,111$1,557
16 years$3,726$3,154$2,658$2,230$1,865$1,342
17 years$3,470$2,905$2,418$2,004$1,654$1,161
18 years$3,243$2,684$2,208$1,806$1,471$1,006
19 years$3,041$2,487$2,021$1,632$1,311$874
20 years$2,858$2,311$1,855$1,478$1,171$761
21 years$2,694$2,153$1,706$1,341$1,048$663
22 years$2,544$2,010$1,572$1,220$939$578
23 years$2,408$1,880$1,452$1,111$843$505
24 years$2,283$1,761$1,343$1,013$758$442
25 years$2,168$1,653$1,244$925$682$387
26 years$2,063$1,553$1,153$846$614$339
27 years$1,965$1,462$1,071$774$554$297
28 years$1,874$1,378$996$709$500$260
29 years$1,790$1,300$926$651$451$228
30 years$1,712$1,227$863$597$408$200
31 years$1,639$1,160$805$548$369$176
32 years$1,570$1,098$751$504$333$154
33 years$1,506$1,040$701$463$302$136
34 years$1,446$985$655$426$273$119
35 years$1,389$935$612$393$247$105
36 years$1,336$887$573$362$224$92
37 years$1,285$842$536$333$203$81
38 years$1,238$801$502$307$184$71
39 years$1,193$761$470$283$167$63
40 years$1,150$724$441$261$152$55
41 years$1,109$689$413$241$137$48
42 years$1,071$657$388$222$125$43
43 years$1,034$626$364$205$113$37
44 years$999$596$342$189$103$33
45 years$966$569$321$175$93$29
46 years$934$543$301$162$85$26
47 years$904$518$283$149$77$22
48 years$875$494$266$138$70$20
49 years$848$472$250$128$63$17
50 years$821$451$235$118$58$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $841,000, adding $5,504 every year, while hoping to spend $43,222 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: 88/6/6 Blend
55$841,000$841,000$841,000$841,000
56$932,459$887,886$874,851$1,013,857
57$981,582$885,405$858,171$1,065,197
58$1,034,267$881,353$839,483$1,115,012
59$1,090,832$875,609$818,675$1,168,356
60$1,151,625$868,042$795,628$1,225,551
61$1,217,028$858,514$770,220$1,286,952
62$1,287,463$846,879$742,320$1,352,950
63$1,363,391$832,983$711,795$1,423,975
64$1,445,319$816,660$678,501$1,500,498
65$1,533,803$797,739$642,293$1,583,041
66$1,629,456$776,033$603,015$1,672,176
67$1,732,951$751,349$560,506$1,768,532
68$1,845,026$723,480$514,598$1,872,805
69$1,966,496$692,207$465,114$1,985,758
70$2,098,254$657,301$411,871$2,108,232
71$2,241,284$618,516$354,676$2,241,154
72$2,396,666$575,595$293,329$2,385,544
73$2,565,591$528,263$227,620$2,542,525
74$2,749,366$476,233$157,330$2,713,335
75$2,949,432$419,200$82,232$2,899,337
76$3,167,373$356,840$2,086$3,102,032
77$3,404,933$288,813$0$3,323,076
78$3,664,031$214,759$0$3,569,632
79$3,946,777$134,297$0$3,838,855
80$4,255,498$47,028$0$4,132,841
81$4,592,753$0$0$4,454,045
82$4,961,358$0$0$4,808,306
83$5,364,415$0$0$5,199,080
84$5,805,339$0$0$5,626,572
85$6,287,891$0$0$6,094,431
86$6,816,211$0$0$6,606,670
87$7,394,858$0$0$7,167,711
88$8,028,855$0$0$7,782,425
89$8,723,730$0$0$8,456,173
90$9,485,575$0$0$9,194,861
91$10,321,096$0$0$10,004,995
92$11,237,683$0$0$10,893,738
93$12,243,472$0$0$11,868,982
94$13,347,427$0$0$12,939,420
95$14,559,423$0$0$14,114,626
96$15,890,334$0$0$15,405,149
97$17,352,142$0$0$16,822,605
98$18,958,046$0$0$18,379,795
99$20,722,586$0$0$20,090,819
100$22,661,780$0$0$21,971,211