Can I retire at age 56 with 842,000?

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 $842,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.5%
1 years$69,532$68,912$68,308$67,718$67,142$66,719
2 years$34,422$33,781$33,159$32,557$31,973$31,546
3 years$22,720$22,076$21,456$20,859$20,285$19,867
4 years$16,870$16,228$15,615$15,028$14,467$14,063
5 years$13,361$12,723$12,118$11,543$10,998$10,607
6 years$11,023$10,389$9,793$9,231$8,702$8,326
7 years$9,353$8,725$8,138$7,589$7,077$6,716
8 years$8,101$7,479$6,902$6,367$5,871$5,524
9 years$7,128$6,512$5,944$5,423$4,944$4,612
10 years$6,350$5,740$5,182$4,675$4,213$3,895
11 years$5,714$5,110$4,562$4,068$3,623$3,319
12 years$5,184$4,586$4,049$3,568$3,140$2,850
13 years$4,736$4,145$3,618$3,150$2,738$2,462
14 years$4,353$3,767$3,250$2,797$2,400$2,137
15 years$4,021$3,442$2,935$2,494$2,113$1,863
16 years$3,730$3,158$2,661$2,233$1,868$1,630
17 years$3,474$2,908$2,421$2,006$1,656$1,431
18 years$3,247$2,687$2,210$1,808$1,472$1,259
19 years$3,044$2,490$2,023$1,634$1,312$1,110
20 years$2,862$2,314$1,857$1,480$1,172$981
21 years$2,697$2,156$1,708$1,343$1,049$868
22 years$2,547$2,012$1,574$1,221$940$770
23 years$2,411$1,882$1,453$1,112$844$683
24 years$2,286$1,763$1,344$1,014$759$607
25 years$2,171$1,655$1,245$926$683$540
26 years$2,065$1,555$1,155$847$615$481
27 years$1,967$1,464$1,072$775$554$429
28 years$1,877$1,379$997$710$500$382
29 years$1,792$1,301$928$651$452$341
30 years$1,714$1,229$864$598$408$305
31 years$1,641$1,162$806$549$369$272
32 years$1,572$1,099$752$505$334$243
33 years$1,508$1,041$702$464$302$217
34 years$1,448$986$656$427$274$194
35 years$1,391$936$613$393$248$174
36 years$1,337$888$573$362$224$156
37 years$1,287$843$537$333$203$139
38 years$1,239$802$503$307$184$125
39 years$1,194$762$471$283$167$112
40 years$1,151$725$441$261$152$100
41 years$1,111$690$414$241$138$89
42 years$1,072$657$388$223$125$80
43 years$1,035$626$364$205$113$72
44 years$1,000$597$342$190$103$64
45 years$967$569$321$175$93$58
46 years$935$543$302$162$85$52
47 years$905$518$283$150$77$46
48 years$876$495$266$138$70$42
49 years$849$473$250$128$64$37
50 years$822$451$235$118$58$33

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $842,000, adding $3,606 every year, while hoping to spend $54,452 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: 62/21/17 Blend
55$842,000$842,000$842,000$842,000
56$931,604$886,978$873,927$985,151
57$968,691$872,503$845,267$1,007,151
58$1,007,736$855,494$813,822$1,024,701
59$1,048,881$835,769$779,441$1,042,576
60$1,092,281$813,136$741,966$1,060,813
61$1,138,105$787,391$701,233$1,079,452
62$1,186,536$758,319$657,070$1,098,543
63$1,237,777$725,690$609,296$1,118,140
64$1,292,046$689,265$557,723$1,138,308
65$1,349,583$648,787$502,155$1,159,119
66$1,410,650$603,987$442,387$1,180,658
67$1,475,534$554,579$378,203$1,203,019
68$1,544,546$500,262$309,381$1,226,311
69$1,618,031$440,716$235,687$1,250,657
70$1,696,364$375,605$156,876$1,276,197
71$1,779,955$304,571$72,693$1,303,088
72$1,869,255$227,240$0$1,331,508
73$1,964,758$143,214$0$1,364,770
74$2,067,004$52,072$0$1,414,262
75$2,176,588$0$0$1,467,093
76$2,294,160$0$0$1,534,379
77$2,420,434$0$0$1,619,613
78$2,556,195$0$0$1,711,295
79$2,702,303$0$0$1,810,013
80$2,859,703$0$0$1,916,411
81$3,029,434$0$0$2,031,198
82$3,212,635$0$0$2,155,152
83$3,410,560$0$0$2,289,127
84$3,624,587$0$0$2,434,064
85$3,856,227$0$0$2,590,994
86$4,107,146$0$0$2,761,054
87$4,379,172$0$0$2,945,493
88$4,674,318$0$0$3,145,682
89$4,994,795$0$0$3,363,133
90$5,343,037$0$0$3,599,507
91$5,721,722$0$0$3,856,630
92$6,133,794$0$0$4,136,515
93$6,582,493$0$0$4,441,373
94$7,071,386$0$0$4,773,638
95$7,604,396$0$0$5,135,991
96$8,185,843$0$0$5,531,380
97$8,820,481$0$0$5,963,052
98$9,513,541$0$0$6,434,580
99$10,270,784$0$0$6,949,897
100$11,098,553$0$0$7,513,335