Can I retire at age 56 with 843,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $843,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.2%
1 years$69,614$68,994$68,389$67,799$67,222$64,734
2 years$34,462$33,821$33,199$32,595$32,010$29,532
3 years$22,747$22,102$21,482$20,884$20,309$17,918
4 years$16,890$16,247$15,633$15,046$14,484$12,199
5 years$13,377$12,738$12,132$11,557$11,011$8,837
6 years$11,036$10,402$9,804$9,242$8,712$6,652
7 years$9,364$8,735$8,148$7,598$7,086$5,137
8 years$8,111$7,488$6,910$6,374$5,878$4,041
9 years$7,137$6,519$5,951$5,429$4,950$3,221
10 years$6,358$5,747$5,189$4,680$4,218$2,594
11 years$5,721$5,116$4,568$4,073$3,628$2,106
12 years$5,190$4,592$4,054$3,573$3,144$1,719
13 years$4,742$4,150$3,622$3,154$2,741$1,411
14 years$4,358$3,772$3,254$2,800$2,403$1,163
15 years$4,025$3,446$2,938$2,497$2,116$961
16 years$3,735$3,161$2,664$2,236$1,870$796
17 years$3,479$2,911$2,424$2,009$1,658$661
18 years$3,251$2,690$2,213$1,810$1,474$550
19 years$3,048$2,493$2,026$1,636$1,314$458
20 years$2,865$2,317$1,859$1,482$1,174$382
21 years$2,700$2,158$1,710$1,345$1,050$319
22 years$2,550$2,015$1,576$1,223$941$266
23 years$2,413$1,884$1,455$1,113$845$223
24 years$2,288$1,765$1,346$1,015$760$186
25 years$2,173$1,657$1,247$927$684$156
26 years$2,067$1,557$1,156$848$616$131
27 years$1,970$1,465$1,074$776$555$109
28 years$1,879$1,381$998$711$501$92
29 years$1,795$1,303$929$652$452$77
30 years$1,716$1,230$865$598$409$64
31 years$1,643$1,163$806$550$369$54
32 years$1,574$1,100$752$505$334$45
33 years$1,510$1,042$703$465$302$38
34 years$1,449$988$656$427$274$32
35 years$1,392$937$614$393$248$27
36 years$1,339$889$574$362$225$22
37 years$1,288$844$537$334$204$19
38 years$1,241$803$503$308$185$16
39 years$1,195$763$471$284$167$13
40 years$1,153$726$442$262$152$11
41 years$1,112$691$414$241$138$9
42 years$1,073$658$389$223$125$8
43 years$1,037$627$365$206$113$7
44 years$1,002$598$342$190$103$5
45 years$968$570$321$175$94$5
46 years$937$544$302$162$85$4
47 years$906$519$284$150$77$3
48 years$877$495$267$138$70$3
49 years$850$473$251$128$64$2
50 years$823$452$236$118$58$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $843,000, adding $4,017 every year, while hoping to spend $21,541 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: 78/7/15 Blend
55$843,000$843,000$843,000$843,000
56$933,130$888,451$875,384$1,002,661
57$1,005,389$909,065$881,790$1,069,662
58$1,084,298$929,968$887,688$1,140,001
59$1,170,510$951,150$893,040$1,216,556
60$1,264,748$972,602$897,802$1,299,940
61$1,367,805$994,313$901,932$1,390,829
62$1,480,557$1,016,271$905,383$1,489,965
63$1,603,967$1,038,461$908,106$1,598,169
64$1,739,095$1,060,869$910,051$1,716,343
65$1,887,109$1,083,478$911,164$1,845,482
66$2,049,295$1,106,269$911,389$1,986,680
67$2,227,070$1,129,223$910,667$2,141,146
68$2,421,993$1,152,317$908,937$2,310,209
69$2,635,783$1,175,527$906,133$2,495,333
70$2,870,332$1,198,827$902,188$2,698,133
71$3,127,725$1,222,188$897,030$2,920,389
72$3,410,257$1,245,580$890,584$3,164,059
73$3,720,458$1,268,968$882,774$3,431,303
74$4,061,114$1,292,316$873,515$3,724,500
75$4,435,293$1,315,585$862,724$4,046,273
76$4,846,376$1,338,733$850,309$4,399,510
77$5,298,089$1,361,713$836,176$4,787,395
78$5,794,534$1,384,477$820,228$5,213,437
79$6,340,232$1,406,971$802,361$5,681,501
80$6,940,162$1,429,140$782,467$6,195,847
81$7,599,813$1,450,921$760,433$6,761,169
82$8,325,227$1,472,250$736,141$7,382,640
83$9,123,066$1,493,056$709,468$8,065,962
84$10,000,668$1,513,265$680,285$8,817,415
85$10,966,118$1,532,796$648,455$9,643,923
86$12,028,322$1,551,564$613,839$10,553,115
87$13,197,097$1,569,477$576,289$11,553,397
88$14,483,256$1,586,436$535,650$12,654,035
89$15,898,715$1,602,339$491,761$13,865,237
90$17,456,604$1,617,073$444,454$15,198,255
91$19,171,388$1,630,519$393,554$16,665,488
92$21,059,007$1,642,553$338,876$18,280,600
93$23,137,026$1,653,038$280,228$20,058,648
94$25,424,798$1,661,832$217,411$22,016,227
95$27,943,648$1,668,783$150,215$24,171,623
96$30,717,075$1,673,728$78,422$26,544,990
97$33,770,971$1,676,495$1,804$29,158,535
98$37,133,868$1,676,902$0$32,036,734
99$40,837,207$1,674,754$0$35,219,356
100$44,915,629$1,669,844$0$38,724,467