Can I retire at age 56 with 844,000?

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 $844,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.3%
1 years$69,697$69,076$68,470$67,879$67,302$66,378
2 years$34,503$33,861$33,238$32,634$32,048$31,120
3 years$22,774$22,128$21,507$20,909$20,333$19,428
4 years$16,910$16,267$15,652$15,064$14,502$13,627
5 years$13,393$12,753$12,146$11,570$11,024$10,182
6 years$11,049$10,414$9,816$9,253$8,723$7,915
7 years$9,375$8,746$8,157$7,607$7,094$6,321
8 years$8,120$7,497$6,918$6,382$5,885$5,146
9 years$7,145$6,527$5,958$5,436$4,956$4,251
10 years$6,365$5,753$5,195$4,686$4,223$3,552
11 years$5,728$5,122$4,573$4,078$3,632$2,993
12 years$5,197$4,597$4,059$3,577$3,147$2,541
13 years$4,748$4,154$3,626$3,158$2,744$2,169
14 years$4,363$3,776$3,258$2,803$2,406$1,861
15 years$4,030$3,450$2,942$2,500$2,118$1,603
16 years$3,739$3,165$2,667$2,238$1,872$1,385
17 years$3,483$2,915$2,427$2,011$1,660$1,200
18 years$3,255$2,693$2,215$1,813$1,476$1,043
19 years$3,051$2,496$2,028$1,638$1,316$908
20 years$2,868$2,320$1,861$1,483$1,175$792
21 years$2,703$2,161$1,712$1,346$1,052$692
22 years$2,553$2,017$1,578$1,224$943$605
23 years$2,416$1,886$1,457$1,115$846$530
24 years$2,291$1,767$1,347$1,017$760$464
25 years$2,176$1,659$1,248$929$684$407
26 years$2,070$1,559$1,157$849$616$357
27 years$1,972$1,467$1,075$777$556$314
28 years$1,881$1,382$999$712$501$276
29 years$1,797$1,304$930$653$453$243
30 years$1,718$1,232$866$599$409$213
31 years$1,645$1,164$807$550$370$188
32 years$1,576$1,102$753$506$335$165
33 years$1,511$1,043$703$465$303$146
34 years$1,451$989$657$428$274$128
35 years$1,394$938$614$394$248$113
36 years$1,340$890$575$363$225$100
37 years$1,290$845$538$334$204$88
38 years$1,242$803$504$308$185$77
39 years$1,197$764$472$284$168$68
40 years$1,154$727$442$262$152$60
41 years$1,113$692$415$242$138$53
42 years$1,075$659$389$223$125$47
43 years$1,038$628$365$206$114$41
44 years$1,003$599$343$190$103$36
45 years$969$571$322$176$94$32
46 years$938$544$302$162$85$28
47 years$907$520$284$150$77$25
48 years$878$496$267$138$70$22
49 years$851$474$251$128$64$19
50 years$824$452$236$118$58$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $844,000, adding $5,379 every year, while hoping to spend $23,984 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: 57/21/22 Blend
55$844,000$844,000$844,000$844,000
56$935,636$890,904$877,822$983,138
57$1,005,553$909,040$881,711$1,034,289
58$1,081,796$927,260$884,925$1,086,986
59$1,164,988$945,544$887,419$1,143,900
60$1,255,809$963,869$889,140$1,205,441
61$1,355,013$982,209$890,037$1,272,066
62$1,463,425$1,000,538$890,054$1,344,274
63$1,581,956$1,018,826$889,133$1,422,619
64$1,711,609$1,037,043$887,212$1,507,709
65$1,853,488$1,055,153$884,229$1,600,216
66$2,008,809$1,073,120$880,115$1,700,880
67$2,178,910$1,090,905$874,801$1,810,517
68$2,365,264$1,108,465$868,213$1,930,028
69$2,569,497$1,125,756$860,274$2,060,403
70$2,793,395$1,142,727$850,902$2,202,739
71$3,038,927$1,159,326$840,013$2,358,239
72$3,308,263$1,175,499$827,519$2,528,236
73$3,603,791$1,191,183$813,326$2,714,194
74$3,928,142$1,206,316$797,337$2,917,730
75$4,284,215$1,220,828$779,451$3,140,628
76$4,675,204$1,234,647$759,561$3,384,851
77$5,104,623$1,247,694$737,555$3,652,567
78$5,576,349$1,259,885$713,318$3,946,165
79$6,094,650$1,271,132$686,726$4,268,279
80$6,664,226$1,281,340$657,654$4,621,812
81$7,290,259$1,290,407$625,967$5,009,965
82$7,978,455$1,298,227$591,527$5,436,269
83$8,735,101$1,304,684$554,187$5,904,613
84$9,567,126$1,309,658$513,796$6,419,290
85$10,482,159$1,313,018$470,195$6,985,026
86$11,488,610$1,314,627$423,218$7,607,037
87$12,595,744$1,314,338$372,690$8,291,069
88$13,813,767$1,311,998$318,433$9,043,461
89$15,153,925$1,307,440$260,255$9,871,195
90$16,628,612$1,300,491$197,959$10,781,974
91$18,251,479$1,290,964$131,339$11,784,285
92$20,037,571$1,278,662$60,181$12,887,487
93$22,003,465$1,263,378$0$14,101,895
94$24,167,425$1,244,890$0$15,442,578
95$26,549,576$1,222,964$0$16,933,688
96$29,172,095$1,197,351$0$18,574,959
97$32,059,416$1,167,788$0$20,381,680
98$35,238,464$1,133,998$0$22,370,703
99$38,738,909$1,095,685$0$24,560,597
100$42,593,441$1,052,538$0$26,971,830