Can I retire at age 56 with 846,000?

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 $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%19.8%
1 years$69,862$69,240$68,632$68,040$67,461$64,810
2 years$34,585$33,941$33,317$32,711$32,124$29,486
3 years$22,828$22,181$21,558$20,959$20,381$17,838
4 years$16,950$16,305$15,689$15,099$14,536$12,108
5 years$13,425$12,784$12,175$11,598$11,050$8,743
6 years$11,075$10,439$9,839$9,275$8,743$6,560
7 years$9,397$8,766$8,177$7,625$7,111$5,049
8 years$8,140$7,514$6,934$6,397$5,899$3,957
9 years$7,162$6,543$5,973$5,449$4,968$3,143
10 years$6,380$5,767$5,207$4,697$4,233$2,521
11 years$5,741$5,134$4,584$4,088$3,640$2,039
12 years$5,209$4,608$4,068$3,585$3,155$1,658
13 years$4,759$4,164$3,635$3,165$2,751$1,355
14 years$4,373$3,785$3,266$2,810$2,411$1,112
15 years$4,040$3,458$2,949$2,506$2,123$915
16 years$3,748$3,173$2,673$2,244$1,877$755
17 years$3,491$2,922$2,433$2,016$1,664$624
18 years$3,263$2,700$2,221$1,817$1,479$517
19 years$3,059$2,502$2,033$1,642$1,319$428
20 years$2,875$2,325$1,866$1,487$1,178$356
21 years$2,710$2,166$1,716$1,349$1,054$296
22 years$2,559$2,022$1,582$1,227$945$246
23 years$2,422$1,891$1,460$1,117$848$204
24 years$2,296$1,772$1,351$1,019$762$170
25 years$2,181$1,663$1,251$931$686$142
26 years$2,075$1,563$1,160$851$618$118
27 years$1,977$1,471$1,077$779$557$98
28 years$1,886$1,386$1,002$714$503$82
29 years$1,801$1,307$932$654$454$68
30 years$1,722$1,235$868$601$410$57
31 years$1,648$1,167$809$552$371$48
32 years$1,580$1,104$755$507$335$40
33 years$1,515$1,046$705$466$304$33
34 years$1,454$991$659$429$275$28
35 years$1,397$940$616$395$249$23
36 years$1,344$892$576$364$226$19
37 years$1,293$847$539$335$204$16
38 years$1,245$805$505$309$185$13
39 years$1,200$766$473$285$168$11
40 years$1,157$729$443$263$152$9
41 years$1,116$694$416$242$138$8
42 years$1,077$661$390$224$125$7
43 years$1,040$629$366$206$114$5
44 years$1,005$600$344$191$103$5
45 years$972$572$323$176$94$4
46 years$940$546$303$163$85$3
47 years$909$521$285$150$77$3
48 years$880$497$268$139$70$2
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 $6,048 every year, while hoping to spend $43,894 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: 42/31/27 Blend
55$846,000$846,000$846,000$846,000
56$938,531$893,693$880,580$970,312
57$987,558$890,781$863,376$990,808
58$1,040,115$886,255$844,125$1,008,388
59$1,096,515$879,990$822,712$1,026,581
60$1,157,103$871,853$799,016$1,045,470
61$1,222,256$861,702$772,912$1,065,149
62$1,292,389$849,388$744,267$1,085,724
63$1,367,958$834,754$712,946$1,107,316
64$1,449,463$817,630$678,802$1,130,063
65$1,537,453$797,839$641,688$1,154,119
66$1,632,534$775,193$601,444$1,179,658
67$1,735,367$749,493$557,908$1,206,878
68$1,846,684$720,527$510,907$1,236,000
69$1,967,285$688,073$460,262$1,267,272
70$2,098,054$651,894$405,786$1,300,973
71$2,239,959$611,740$347,284$1,337,418
72$2,394,068$567,348$284,550$1,376,957
73$2,561,553$518,439$217,373$1,419,982
74$2,743,705$464,716$145,529$1,466,934
75$2,941,944$405,868$68,785$1,518,302
76$3,157,832$341,566$0$1,574,637
77$3,393,090$271,461$0$1,640,326
78$3,649,608$195,185$0$1,733,669
79$3,929,469$112,351$0$1,835,665
80$4,234,965$22,546$0$1,947,240
81$4,568,620$0$0$2,069,422
82$4,933,211$0$0$2,228,815
83$5,331,795$0$0$2,411,580
84$5,767,740$0$0$2,611,583
85$6,244,753$0$0$2,830,537
86$6,766,916$0$0$3,070,332
87$7,338,722$0$0$3,333,044
88$7,965,123$0$0$3,620,964
89$8,651,569$0$0$3,936,612
90$9,404,063$0$0$4,282,764
91$10,229,218$0$0$4,662,480
92$11,134,316$0$0$5,079,127
93$12,127,378$0$0$5,536,416
94$13,217,239$0$0$6,038,434
95$14,413,632$0$0$6,589,683
96$15,727,275$0$0$7,195,122
97$17,169,980$0$0$7,860,214
98$18,754,753$0$0$8,590,978
99$20,495,927$0$0$9,394,045
100$22,409,288$0$0$10,276,718