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%19.9%
1 years$69,532$68,912$68,308$67,718$67,142$64,478
2 years$34,422$33,781$33,159$32,557$31,973$29,322
3 years$22,720$22,076$21,456$20,859$20,285$17,730
4 years$16,870$16,228$15,615$15,028$14,467$12,029
5 years$13,361$12,723$12,118$11,543$10,998$8,682
6 years$11,023$10,389$9,793$9,231$8,702$6,510
7 years$9,353$8,725$8,138$7,589$7,077$5,008
8 years$8,101$7,479$6,902$6,367$5,871$3,922
9 years$7,128$6,512$5,944$5,423$4,944$3,113
10 years$6,350$5,740$5,182$4,675$4,213$2,496
11 years$5,714$5,110$4,562$4,068$3,623$2,017
12 years$5,184$4,586$4,049$3,568$3,140$1,639
13 years$4,736$4,145$3,618$3,150$2,738$1,339
14 years$4,353$3,767$3,250$2,797$2,400$1,098
15 years$4,021$3,442$2,935$2,494$2,113$903
16 years$3,730$3,158$2,661$2,233$1,868$744
17 years$3,474$2,908$2,421$2,006$1,656$615
18 years$3,247$2,687$2,210$1,808$1,472$509
19 years$3,044$2,490$2,023$1,634$1,312$421
20 years$2,862$2,314$1,857$1,480$1,172$350
21 years$2,697$2,156$1,708$1,343$1,049$290
22 years$2,547$2,012$1,574$1,221$940$241
23 years$2,411$1,882$1,453$1,112$844$201
24 years$2,286$1,763$1,344$1,014$759$167
25 years$2,171$1,655$1,245$926$683$139
26 years$2,065$1,555$1,155$847$615$116
27 years$1,967$1,464$1,072$775$554$96
28 years$1,877$1,379$997$710$500$80
29 years$1,792$1,301$928$651$452$67
30 years$1,714$1,229$864$598$408$56
31 years$1,641$1,162$806$549$369$46
32 years$1,572$1,099$752$505$334$39
33 years$1,508$1,041$702$464$302$32
34 years$1,448$986$656$427$274$27
35 years$1,391$936$613$393$248$22
36 years$1,337$888$573$362$224$19
37 years$1,287$843$537$333$203$16
38 years$1,239$802$503$307$184$13
39 years$1,194$762$471$283$167$11
40 years$1,151$725$441$261$152$9
41 years$1,111$690$414$241$138$8
42 years$1,072$657$388$223$125$6
43 years$1,035$626$364$205$113$5
44 years$1,000$597$342$190$103$4
45 years$967$569$321$175$93$4
46 years$935$543$302$162$85$3
47 years$905$518$283$150$77$3
48 years$876$495$266$138$70$2
49 years$849$473$250$128$64$2
50 years$822$451$235$118$58$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $842,000, adding $4,813 every year, while hoping to spend $22,073 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: 23/49/28 Blend
55$842,000$842,000$842,000$842,000
56$932,849$888,223$875,172$945,970
57$1,004,514$908,260$881,004$977,739
58$1,082,749$928,539$886,293$1,009,565
59$1,168,201$949,050$890,995$1,043,170
60$1,261,582$969,777$895,068$1,078,716
61$1,363,676$990,709$898,465$1,116,381
62$1,475,346$1,011,829$901,139$1,156,362
63$1,597,542$1,033,120$903,038$1,198,876
64$1,731,311$1,054,563$904,110$1,244,164
65$1,877,806$1,076,137$904,299$1,292,491
66$2,038,295$1,097,820$903,545$1,344,150
67$2,214,176$1,119,588$901,789$1,399,465
68$2,406,988$1,141,414$898,965$1,458,794
69$2,618,426$1,163,269$895,006$1,522,532
70$2,850,357$1,185,121$889,840$1,591,116
71$3,104,839$1,206,937$883,395$1,665,028
72$3,384,135$1,228,680$875,591$1,744,801
73$3,690,742$1,250,310$866,349$1,831,024
74$4,027,407$1,271,785$855,581$1,924,347
75$4,397,159$1,293,059$843,199$2,025,487
76$4,803,333$1,314,082$829,110$2,135,239
77$5,249,602$1,334,802$813,215$2,254,477
78$5,740,016$1,355,162$795,412$2,384,168
79$6,279,033$1,375,100$775,594$2,525,382
80$6,871,566$1,394,551$753,648$2,679,296
81$7,523,028$1,413,446$729,457$2,847,213
82$8,239,381$1,431,710$702,898$3,030,571
83$9,027,196$1,449,262$673,844$3,230,956
84$9,893,712$1,466,017$642,159$3,450,120
85$10,846,903$1,481,884$607,703$3,689,998
86$11,895,556$1,496,766$570,331$3,952,724
87$13,049,353$1,510,558$529,887$4,240,655
88$14,318,962$1,523,150$486,213$4,556,391
89$15,716,136$1,534,424$439,142$4,902,802
90$17,253,826$1,544,255$388,497$5,283,056
91$18,946,302$1,552,509$334,097$5,700,648
92$20,809,287$1,559,044$275,751$6,159,436
93$22,860,105$1,563,709$213,260$6,663,675
94$25,117,848$1,566,342$146,416$7,218,062
95$27,603,550$1,566,774$75,003$7,827,776
96$30,340,389$1,564,824$0$8,498,536
97$33,353,907$1,560,298$0$9,237,008
98$36,672,245$1,552,992$0$10,073,724
99$40,326,415$1,542,690$0$10,994,001
100$44,350,589$1,529,161$0$12,006,381