Can I retire at age 56 with 845,000?

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 $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%11.3%
1 years$69,779$69,158$68,551$67,959$67,381$67,013
2 years$34,544$33,901$33,277$32,673$32,086$31,715
3 years$22,801$22,155$21,533$20,934$20,357$19,993
4 years$16,930$16,286$15,670$15,082$14,519$14,166
5 years$13,409$12,768$12,161$11,584$11,037$10,696
6 years$11,062$10,426$9,828$9,264$8,733$8,405
7 years$9,386$8,756$8,167$7,616$7,102$6,787
8 years$8,130$7,506$6,926$6,389$5,892$5,589
9 years$7,153$6,535$5,965$5,442$4,962$4,672
10 years$6,373$5,760$5,201$4,691$4,228$3,950
11 years$5,734$5,128$4,579$4,083$3,636$3,370
12 years$5,203$4,603$4,064$3,581$3,151$2,897
13 years$4,753$4,159$3,630$3,162$2,748$2,506
14 years$4,368$3,781$3,262$2,807$2,409$2,178
15 years$4,035$3,454$2,945$2,503$2,121$1,902
16 years$3,744$3,169$2,670$2,241$1,874$1,666
17 years$3,487$2,918$2,430$2,014$1,662$1,464
18 years$3,259$2,697$2,218$1,815$1,478$1,290
19 years$3,055$2,499$2,031$1,640$1,317$1,139
20 years$2,872$2,322$1,864$1,485$1,176$1,008
21 years$2,706$2,163$1,714$1,348$1,053$894
22 years$2,556$2,019$1,580$1,225$944$794
23 years$2,419$1,889$1,459$1,116$847$706
24 years$2,294$1,770$1,349$1,018$761$628
25 years$2,179$1,661$1,249$930$685$560
26 years$2,072$1,561$1,159$850$617$499
27 years$1,974$1,469$1,076$778$556$445
28 years$1,883$1,384$1,000$713$502$398
29 years$1,799$1,306$931$654$453$355
30 years$1,720$1,233$867$600$410$318
31 years$1,647$1,166$808$551$370$284
32 years$1,578$1,103$754$506$335$255
33 years$1,513$1,045$704$466$303$228
34 years$1,453$990$658$428$274$204
35 years$1,396$939$615$394$249$183
36 years$1,342$891$575$363$225$164
37 years$1,291$846$539$335$204$147
38 years$1,244$804$504$308$185$132
39 years$1,198$765$473$284$168$118
40 years$1,155$728$443$262$152$106
41 years$1,115$693$415$242$138$95
42 years$1,076$660$390$223$125$85
43 years$1,039$629$366$206$114$77
44 years$1,004$599$343$190$103$69
45 years$971$571$322$176$94$62
46 years$939$545$303$162$85$55
47 years$908$520$284$150$77$50
48 years$879$497$267$139$70$45
49 years$852$474$251$128$64$40
50 years$825$453$236$118$58$36

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $845,000, adding $5,578 every year, while hoping to spend $32,642 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: 41/43/16 Blend
55$845,000$845,000$845,000$845,000
56$936,944$892,159$879,061$970,725
57$997,781$901,144$873,779$1,004,155
58$1,063,730$909,475$867,226$1,036,701
59$1,135,277$917,086$859,324$1,071,231
60$1,212,958$923,906$849,994$1,107,941
61$1,297,362$929,859$839,151$1,147,051
62$1,389,136$934,865$826,706$1,188,801
63$1,488,994$938,840$812,567$1,233,461
64$1,597,719$941,691$796,636$1,281,327
65$1,716,175$943,323$778,812$1,332,729
66$1,845,312$943,632$758,989$1,388,033
67$1,986,174$942,511$737,055$1,447,643
68$2,139,913$939,842$712,895$1,512,008
69$2,307,793$935,504$686,387$1,581,625
70$2,491,211$929,367$657,404$1,657,044
71$2,691,700$921,291$625,812$1,738,874
72$2,910,949$911,130$591,473$1,827,789
73$3,150,820$898,730$554,242$1,924,537
74$3,413,361$883,925$513,966$2,029,943
75$3,700,828$866,541$470,488$2,144,921
76$4,015,705$846,394$423,641$2,270,485
77$4,360,726$823,287$373,253$2,407,752
78$4,738,906$797,013$319,142$2,557,961
79$5,153,561$767,354$261,120$2,722,481
80$5,608,347$734,077$198,991$2,902,826
81$6,107,288$696,937$132,547$3,100,670
82$6,654,819$655,674$61,574$3,317,864
83$7,255,822$610,013$0$3,556,453
84$7,915,677$559,665$0$3,821,117
85$8,640,309$504,322$0$4,123,312
86$9,436,248$443,661$0$4,455,317
87$10,310,682$377,337$0$4,820,226
88$11,271,535$304,990$0$5,221,456
89$12,327,533$226,236$0$5,662,776
90$13,488,292$140,672$0$6,148,348
91$14,764,404$47,871$0$6,682,765
92$16,167,539$0$0$7,271,097
93$17,710,554$0$0$7,943,835
94$19,407,616$0$0$8,708,770
95$21,274,331$0$0$9,550,300
96$23,327,896$0$0$10,476,193
97$25,587,258$0$0$11,495,007
98$28,073,291$0$0$12,616,173
99$30,808,999$0$0$13,850,082
100$33,819,724$0$0$15,208,181