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%12.9%
1 years$69,697$69,076$68,470$67,879$67,302$66,488
2 years$34,503$33,861$33,238$32,634$32,048$31,230
3 years$22,774$22,128$21,507$20,909$20,333$19,534
4 years$16,910$16,267$15,652$15,064$14,502$13,730
5 years$13,393$12,753$12,146$11,570$11,024$10,280
6 years$11,049$10,414$9,816$9,253$8,723$8,009
7 years$9,375$8,746$8,157$7,607$7,094$6,410
8 years$8,120$7,497$6,918$6,382$5,885$5,231
9 years$7,145$6,527$5,958$5,436$4,956$4,331
10 years$6,365$5,753$5,195$4,686$4,223$3,627
11 years$5,728$5,122$4,573$4,078$3,632$3,065
12 years$5,197$4,597$4,059$3,577$3,147$2,608
13 years$4,748$4,154$3,626$3,158$2,744$2,232
14 years$4,363$3,776$3,258$2,803$2,406$1,920
15 years$4,030$3,450$2,942$2,500$2,118$1,658
16 years$3,739$3,165$2,667$2,238$1,872$1,437
17 years$3,483$2,915$2,427$2,011$1,660$1,249
18 years$3,255$2,693$2,215$1,813$1,476$1,088
19 years$3,051$2,496$2,028$1,638$1,316$950
20 years$2,868$2,320$1,861$1,483$1,175$831
21 years$2,703$2,161$1,712$1,346$1,052$728
22 years$2,553$2,017$1,578$1,224$943$639
23 years$2,416$1,886$1,457$1,115$846$561
24 years$2,291$1,767$1,347$1,017$760$493
25 years$2,176$1,659$1,248$929$684$434
26 years$2,070$1,559$1,157$849$616$382
27 years$1,972$1,467$1,075$777$556$337
28 years$1,881$1,382$999$712$501$297
29 years$1,797$1,304$930$653$453$262
30 years$1,718$1,232$866$599$409$231
31 years$1,645$1,164$807$550$370$204
32 years$1,576$1,102$753$506$335$180
33 years$1,511$1,043$703$465$303$159
34 years$1,451$989$657$428$274$141
35 years$1,394$938$614$394$248$125
36 years$1,340$890$575$363$225$110
37 years$1,290$845$538$334$204$97
38 years$1,242$803$504$308$185$86
39 years$1,197$764$472$284$168$76
40 years$1,154$727$442$262$152$67
41 years$1,113$692$415$242$138$60
42 years$1,075$659$389$223$125$53
43 years$1,038$628$365$206$114$47
44 years$1,003$599$343$190$103$41
45 years$969$571$322$176$94$37
46 years$938$544$302$162$85$32
47 years$907$520$284$150$77$29
48 years$878$496$267$138$70$25
49 years$851$474$251$128$64$23
50 years$824$452$236$118$58$20

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $844,000, adding $2,945 every year, while hoping to spend $44,868 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: 74/6/20 Blend
55$844,000$844,000$844,000$844,000
56$933,126$888,394$875,312$997,529
57$980,565$884,186$856,896$1,036,466
58$1,031,340$878,268$836,359$1,073,382
59$1,085,743$870,509$813,582$1,112,682
60$1,144,094$860,770$788,443$1,154,594
61$1,206,747$848,903$760,812$1,199,368
62$1,274,088$834,752$730,552$1,247,283
63$1,346,542$818,152$697,522$1,298,645
64$1,424,575$798,927$661,575$1,353,794
65$1,508,699$776,892$622,555$1,413,102
66$1,599,477$751,849$580,300$1,476,983
67$1,697,525$723,592$534,642$1,545,893
68$1,803,524$691,900$485,404$1,620,335
69$1,918,220$656,539$432,402$1,700,866
70$2,042,433$617,264$375,442$1,788,099
71$2,177,065$573,814$314,323$1,882,712
72$2,323,108$525,913$248,835$1,985,454
73$2,481,653$473,271$178,759$2,097,150
74$2,653,900$415,579$103,865$2,218,712
75$2,841,168$352,512$23,915$2,351,147
76$3,044,909$283,728$0$2,495,566
77$3,266,721$208,862$0$2,666,299
78$3,508,362$127,531$0$2,857,893
79$3,771,765$39,331$0$3,066,792
80$4,059,061$0$0$3,294,703
81$4,372,592$0$0$3,547,218
82$4,714,938$0$0$3,825,810
83$5,088,937$0$0$4,130,197
84$5,497,717$0$0$4,462,927
85$5,944,718$0$0$4,826,806
86$6,433,729$0$0$5,224,924
87$6,968,923$0$0$5,660,682
88$7,554,894$0$0$6,137,826
89$8,196,700$0$0$6,660,480
90$8,899,914$0$0$7,233,189
91$9,670,671$0$0$7,860,953
92$10,515,729$0$0$8,549,285
93$11,442,530$0$0$9,304,251
94$12,459,272$0$0$10,132,536
95$13,574,984$0$0$11,041,503
96$14,799,612$0$0$12,039,261
97$16,144,111$0$0$13,134,743
98$17,620,550$0$0$14,337,790
99$19,242,223$0$0$15,659,242
100$21,023,774$0$0$17,111,040