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%18.8%
1 years$69,862$69,240$68,632$68,040$67,461$65,068
2 years$34,585$33,941$33,317$32,711$32,124$29,738
3 years$22,828$22,181$21,558$20,959$20,381$18,078
4 years$16,950$16,305$15,689$15,099$14,536$12,333
5 years$13,425$12,784$12,175$11,598$11,050$8,953
6 years$11,075$10,439$9,839$9,275$8,743$6,754
7 years$9,397$8,766$8,177$7,625$7,111$5,228
8 years$8,140$7,514$6,934$6,397$5,899$4,122
9 years$7,162$6,543$5,973$5,449$4,968$3,294
10 years$6,380$5,767$5,207$4,697$4,233$2,659
11 years$5,741$5,134$4,584$4,088$3,640$2,164
12 years$5,209$4,608$4,068$3,585$3,155$1,772
13 years$4,759$4,164$3,635$3,165$2,751$1,458
14 years$4,373$3,785$3,266$2,810$2,411$1,205
15 years$4,040$3,458$2,949$2,506$2,123$999
16 years$3,748$3,173$2,673$2,244$1,877$830
17 years$3,491$2,922$2,433$2,016$1,664$691
18 years$3,263$2,700$2,221$1,817$1,479$577
19 years$3,059$2,502$2,033$1,642$1,319$482
20 years$2,875$2,325$1,866$1,487$1,178$403
21 years$2,710$2,166$1,716$1,349$1,054$337
22 years$2,559$2,022$1,582$1,227$945$283
23 years$2,422$1,891$1,460$1,117$848$237
24 years$2,296$1,772$1,351$1,019$762$199
25 years$2,181$1,663$1,251$931$686$167
26 years$2,075$1,563$1,160$851$618$140
27 years$1,977$1,471$1,077$779$557$118
28 years$1,886$1,386$1,002$714$503$99
29 years$1,801$1,307$932$654$454$83
30 years$1,722$1,235$868$601$410$70
31 years$1,648$1,167$809$552$371$59
32 years$1,580$1,104$755$507$335$50
33 years$1,515$1,046$705$466$304$42
34 years$1,454$991$659$429$275$35
35 years$1,397$940$616$395$249$30
36 years$1,344$892$576$364$226$25
37 years$1,293$847$539$335$204$21
38 years$1,245$805$505$309$185$18
39 years$1,200$766$473$285$168$15
40 years$1,157$729$443$263$152$12
41 years$1,116$694$416$242$138$10
42 years$1,077$661$390$224$125$9
43 years$1,040$629$366$206$114$7
44 years$1,005$600$344$191$103$6
45 years$972$572$323$176$94$5
46 years$940$546$303$163$85$4
47 years$909$521$285$150$77$4
48 years$880$497$268$139$70$3
49 years$853$475$251$128$64$3
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 $2,096 every year, while hoping to spend $27,349 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: 62/19/19 Blend
55$846,000$846,000$846,000$846,000
56$934,454$889,616$876,503$987,710
57$1,000,669$904,108$876,767$1,038,358
58$1,072,722$918,394$876,123$1,090,380
59$1,151,178$932,434$874,512$1,146,541
60$1,236,662$946,186$871,871$1,207,246
61$1,329,859$959,607$868,136$1,272,943
62$1,431,524$972,648$863,239$1,344,124
63$1,542,489$985,257$857,107$1,421,333
64$1,663,668$997,380$849,665$1,505,170
65$1,796,069$1,008,958$840,835$1,596,295
66$1,940,799$1,019,928$830,535$1,695,437
67$2,099,081$1,030,225$818,678$1,803,401
68$2,272,257$1,039,776$805,173$1,921,073
69$2,461,808$1,048,505$789,928$2,049,429
70$2,669,363$1,056,333$772,841$2,189,549
71$2,896,718$1,063,172$753,810$2,342,621
72$3,145,847$1,068,932$732,727$2,509,956
73$3,418,928$1,073,514$709,478$2,692,999
74$3,718,357$1,076,815$683,944$2,893,344
75$4,046,775$1,078,725$656,002$3,112,748
76$4,407,090$1,079,126$625,522$3,353,151
77$4,802,505$1,077,895$592,369$3,616,689
78$5,236,548$1,074,899$556,400$3,905,719
79$5,713,105$1,069,998$517,469$4,222,839
80$6,236,457$1,063,044$475,419$4,570,914
81$6,811,321$1,053,878$430,091$4,953,104
82$7,442,891$1,042,334$381,315$5,372,892
83$8,136,891$1,028,233$328,914$5,834,117
84$8,899,626$1,011,389$272,704$6,341,015
85$9,738,043$991,601$212,495$6,898,255
86$10,659,793$968,660$148,083$7,510,984
87$11,673,309$942,341$79,261$8,184,876
88$12,787,879$912,408$5,809$8,926,189
89$14,013,738$878,612$0$9,741,821
90$15,362,162$840,686$0$10,654,090
91$16,845,574$798,351$0$11,658,879
92$18,477,663$751,311$0$12,764,303
93$20,273,512$699,252$0$13,980,604
94$22,249,737$641,842$0$15,319,069
95$24,424,649$578,732$0$16,792,138
96$26,818,424$509,550$0$18,413,522
97$29,453,291$433,906$0$20,198,332
98$32,353,746$351,387$0$22,163,219
99$35,546,778$261,554$0$24,326,538
100$39,062,127$163,948$0$26,708,515