Can I retire at age 56 with 845,000?

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 $845,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.8%
1 years$69,779$69,158$68,551$67,959$67,381$64,734
2 years$34,544$33,901$33,277$32,673$32,086$29,451
3 years$22,801$22,155$21,533$20,934$20,357$17,817
4 years$16,930$16,286$15,670$15,082$14,519$12,094
5 years$13,409$12,768$12,161$11,584$11,037$8,733
6 years$11,062$10,426$9,828$9,264$8,733$6,552
7 years$9,386$8,756$8,167$7,616$7,102$5,043
8 years$8,130$7,506$6,926$6,389$5,892$3,953
9 years$7,153$6,535$5,965$5,442$4,962$3,139
10 years$6,373$5,760$5,201$4,691$4,228$2,518
11 years$5,734$5,128$4,579$4,083$3,636$2,036
12 years$5,203$4,603$4,064$3,581$3,151$1,656
13 years$4,753$4,159$3,630$3,162$2,748$1,353
14 years$4,368$3,781$3,262$2,807$2,409$1,110
15 years$4,035$3,454$2,945$2,503$2,121$914
16 years$3,744$3,169$2,670$2,241$1,874$754
17 years$3,487$2,918$2,430$2,014$1,662$623
18 years$3,259$2,697$2,218$1,815$1,478$516
19 years$3,055$2,499$2,031$1,640$1,317$428
20 years$2,872$2,322$1,864$1,485$1,176$355
21 years$2,706$2,163$1,714$1,348$1,053$295
22 years$2,556$2,019$1,580$1,225$944$245
23 years$2,419$1,889$1,459$1,116$847$204
24 years$2,294$1,770$1,349$1,018$761$170
25 years$2,179$1,661$1,249$930$685$142
26 years$2,072$1,561$1,159$850$617$118
27 years$1,974$1,469$1,076$778$556$98
28 years$1,883$1,384$1,000$713$502$82
29 years$1,799$1,306$931$654$453$68
30 years$1,720$1,233$867$600$410$57
31 years$1,647$1,166$808$551$370$48
32 years$1,578$1,103$754$506$335$40
33 years$1,513$1,045$704$466$303$33
34 years$1,453$990$658$428$274$28
35 years$1,396$939$615$394$249$23
36 years$1,342$891$575$363$225$19
37 years$1,291$846$539$335$204$16
38 years$1,244$804$504$308$185$13
39 years$1,198$765$473$284$168$11
40 years$1,155$728$443$262$152$9
41 years$1,115$693$415$242$138$8
42 years$1,076$660$390$223$125$6
43 years$1,039$629$366$206$114$5
44 years$1,004$599$343$190$103$5
45 years$971$571$322$176$94$4
46 years$939$545$303$162$85$3
47 years$908$520$284$150$77$3
48 years$879$497$267$139$70$2
49 years$852$474$251$128$64$2
50 years$825$453$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 $845,000, adding $5,171 every year, while hoping to spend $21,625 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: 89/6/5 Blend
55$845,000$845,000$845,000$845,000
56$936,524$891,739$878,641$1,019,545
57$1,009,040$912,425$885,067$1,095,006
58$1,088,229$933,400$890,983$1,174,367
59$1,174,747$954,656$896,350$1,260,909
60$1,269,319$976,182$901,125$1,355,338
61$1,372,742$997,967$905,265$1,458,434
62$1,485,893$1,019,999$908,723$1,571,054
63$1,609,739$1,042,264$911,451$1,694,143
64$1,745,345$1,064,747$913,397$1,828,742
65$1,893,882$1,087,432$914,507$1,975,995
66$2,056,641$1,110,299$914,726$2,137,165
67$2,235,043$1,133,328$913,994$2,313,641
68$2,430,654$1,156,498$912,249$2,506,955
69$2,645,198$1,179,783$909,427$2,718,792
70$2,880,573$1,203,158$905,458$2,951,010
71$3,138,873$1,226,593$900,272$3,205,655
72$3,422,399$1,250,058$893,793$3,484,981
73$3,733,692$1,273,519$885,942$3,791,472
74$4,075,546$1,296,939$876,639$4,127,862
75$4,451,041$1,320,278$865,796$4,497,166
76$4,863,570$1,343,494$853,323$4,902,704
77$5,316,870$1,366,542$839,125$5,348,133
78$5,815,059$1,389,371$823,104$5,837,485
79$6,362,674$1,411,929$805,157$6,375,199
80$6,964,711$1,434,157$785,174$6,966,168
81$7,626,677$1,455,997$763,042$7,615,783
82$8,354,638$1,477,380$738,644$8,329,983
83$9,155,277$1,498,238$711,855$9,115,313
84$10,035,958$1,518,494$682,544$9,978,982
85$11,004,793$1,538,068$650,578$10,928,936
86$12,070,723$1,556,874$615,813$11,973,931
87$13,243,596$1,574,821$578,102$13,123,612
88$14,534,265$1,591,808$537,290$14,388,610
89$15,954,686$1,607,733$493,215$15,780,636
90$17,518,034$1,622,482$445,708$17,312,597
91$19,238,827$1,635,938$394,593$18,998,714
92$21,133,061$1,647,972$339,685$20,854,659
93$23,218,360$1,658,450$280,792$22,897,700
94$25,514,147$1,667,227$217,712$25,146,865
95$28,041,820$1,674,152$150,236$27,623,124
96$30,824,961$1,679,061$78,144$30,349,581
97$33,889,553$1,681,780$1,208$33,351,698
98$37,264,227$1,682,127$0$36,657,533
99$40,980,532$1,679,906$0$40,302,321
100$45,073,235$1,674,910$0$44,316,164