Can I retire at age 56 with 846,000?

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 $846,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.3%
1 years$69,862$69,240$68,632$68,040$67,461$64,939
2 years$34,585$33,941$33,317$32,711$32,124$29,612
3 years$22,828$22,181$21,558$20,959$20,381$17,957
4 years$16,950$16,305$15,689$15,099$14,536$12,220
5 years$13,425$12,784$12,175$11,598$11,050$8,847
6 years$11,075$10,439$9,839$9,275$8,743$6,656
7 years$9,397$8,766$8,177$7,625$7,111$5,138
8 years$8,140$7,514$6,934$6,397$5,899$4,039
9 years$7,162$6,543$5,973$5,449$4,968$3,218
10 years$6,380$5,767$5,207$4,697$4,233$2,590
11 years$5,741$5,134$4,584$4,088$3,640$2,100
12 years$5,209$4,608$4,068$3,585$3,155$1,714
13 years$4,759$4,164$3,635$3,165$2,751$1,406
14 years$4,373$3,785$3,266$2,810$2,411$1,157
15 years$4,040$3,458$2,949$2,506$2,123$956
16 years$3,748$3,173$2,673$2,244$1,877$791
17 years$3,491$2,922$2,433$2,016$1,664$657
18 years$3,263$2,700$2,221$1,817$1,479$546
19 years$3,059$2,502$2,033$1,642$1,319$454
20 years$2,875$2,325$1,866$1,487$1,178$379
21 years$2,710$2,166$1,716$1,349$1,054$316
22 years$2,559$2,022$1,582$1,227$945$264
23 years$2,422$1,891$1,460$1,117$848$220
24 years$2,296$1,772$1,351$1,019$762$184
25 years$2,181$1,663$1,251$931$686$154
26 years$2,075$1,563$1,160$851$618$129
27 years$1,977$1,471$1,077$779$557$108
28 years$1,886$1,386$1,002$714$503$90
29 years$1,801$1,307$932$654$454$76
30 years$1,722$1,235$868$601$410$63
31 years$1,648$1,167$809$552$371$53
32 years$1,580$1,104$755$507$335$44
33 years$1,515$1,046$705$466$304$37
34 years$1,454$991$659$429$275$31
35 years$1,397$940$616$395$249$26
36 years$1,344$892$576$364$226$22
37 years$1,293$847$539$335$204$18
38 years$1,245$805$505$309$185$15
39 years$1,200$766$473$285$168$13
40 years$1,157$729$443$263$152$11
41 years$1,116$694$416$242$138$9
42 years$1,077$661$390$224$125$8
43 years$1,040$629$366$206$114$6
44 years$1,005$600$344$191$103$5
45 years$972$572$323$176$94$4
46 years$940$546$303$163$85$4
47 years$909$521$285$150$77$3
48 years$880$497$268$139$70$3
49 years$853$475$251$128$64$2
50 years$826$454$236$119$58$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $846,000, adding $4,467 every year, while hoping to spend $47,608 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: 24/48/28 Blend
55$846,000$846,000$846,000$846,000
56$936,900$892,062$878,949$951,048
57$981,809$885,118$857,739$956,463
58$1,029,703$876,239$834,223$957,945
59$1,080,837$865,278$808,273$958,536
60$1,135,489$852,083$779,757$958,191
61$1,193,963$836,490$748,534$956,870
62$1,256,596$818,327$714,458$954,533
63$1,323,755$797,411$677,378$951,139
64$1,395,841$773,547$637,134$946,654
65$1,473,298$746,532$593,559$941,041
66$1,556,610$716,148$546,479$934,269
67$1,646,311$682,166$495,712$926,313
68$1,742,985$644,343$441,070$917,149
69$1,847,276$602,422$382,352$906,761
70$1,959,890$556,132$319,352$895,139
71$2,081,602$505,186$251,854$882,282
72$2,213,266$449,280$179,631$868,196
73$2,355,819$388,095$102,448$852,901
74$2,510,291$321,290$20,059$836,427
75$2,677,816$248,508$0$818,819
76$2,859,640$169,372$0$820,415
77$3,057,133$83,482$0$828,733
78$3,271,804$0$0$837,960
79$3,505,311$0$0$853,373
80$3,759,479$0$0$918,273
81$4,036,316$0$0$989,096
82$4,338,031$0$0$1,066,423
83$4,667,056$0$0$1,150,896
84$5,026,069$0$0$1,243,219
85$5,418,014$0$0$1,344,169
86$5,846,135$0$0$1,454,602
87$6,314,002$0$0$1,575,458
88$6,825,546$0$0$1,707,776
89$7,385,094$0$0$1,852,695
90$7,997,412$0$0$2,011,475
91$8,667,745$0$0$2,185,499
92$9,401,872$0$0$2,376,292
93$10,206,156$0$0$2,585,534
94$11,087,603$0$0$2,815,075
95$12,053,931$0$0$3,066,952
96$13,113,640$0$0$3,343,410
97$14,276,090$0$0$3,646,921
98$15,551,594$0$0$3,980,208
99$16,951,508$0$0$4,346,272
100$18,488,343$0$0$4,748,416