Can I retire at age 56 with 847,000?

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 $847,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.2%
1 years$69,944$69,321$68,714$68,120$67,541$65,041
2 years$34,626$33,981$33,356$32,750$32,162$29,672
3 years$22,855$22,207$21,584$20,983$20,405$18,003
4 years$16,970$16,325$15,707$15,117$14,553$12,257
5 years$13,440$12,799$12,190$11,612$11,063$8,879
6 years$11,088$10,451$9,851$9,286$8,754$6,683
7 years$9,408$8,777$8,186$7,634$7,119$5,162
8 years$8,149$7,523$6,943$6,404$5,906$4,060
9 years$7,170$6,550$5,980$5,455$4,974$3,237
10 years$6,388$5,774$5,213$4,702$4,238$2,606
11 years$5,748$5,140$4,590$4,092$3,645$2,116
12 years$5,215$4,613$4,073$3,590$3,158$1,728
13 years$4,765$4,169$3,639$3,169$2,754$1,418
14 years$4,379$3,790$3,270$2,813$2,414$1,168
15 years$4,045$3,462$2,952$2,509$2,126$965
16 years$3,753$3,176$2,677$2,246$1,879$800
17 years$3,495$2,925$2,436$2,018$1,666$664
18 years$3,267$2,703$2,223$1,819$1,481$552
19 years$3,062$2,505$2,035$1,644$1,320$460
20 years$2,879$2,328$1,868$1,489$1,179$384
21 years$2,713$2,168$1,718$1,351$1,055$320
22 years$2,562$2,024$1,584$1,228$946$268
23 years$2,425$1,893$1,462$1,119$849$224
24 years$2,299$1,774$1,352$1,020$763$187
25 years$2,184$1,665$1,252$932$687$157
26 years$2,077$1,564$1,162$852$619$131
27 years$1,979$1,472$1,079$780$558$110
28 years$1,888$1,387$1,003$715$503$92
29 years$1,803$1,309$933$655$454$77
30 years$1,724$1,236$869$601$411$65
31 years$1,650$1,168$810$552$371$54
32 years$1,581$1,106$756$508$336$45
33 years$1,517$1,047$706$467$304$38
34 years$1,456$992$660$429$275$32
35 years$1,399$941$617$395$249$27
36 years$1,345$893$577$364$226$22
37 years$1,294$848$540$335$205$19
38 years$1,246$806$506$309$186$16
39 years$1,201$767$474$285$168$13
40 years$1,158$730$444$263$153$11
41 years$1,117$694$416$243$138$9
42 years$1,078$661$391$224$126$8
43 years$1,041$630$366$207$114$7
44 years$1,006$601$344$191$103$6
45 years$973$573$323$176$94$5
46 years$941$546$303$163$85$4
47 years$911$521$285$150$77$3
48 years$881$498$268$139$70$3
49 years$854$475$252$128$64$2
50 years$827$454$237$119$58$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $847,000, adding $6,176 every year, while hoping to spend $40,736 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: 55/28/17 Blend
55$847,000$847,000$847,000$847,000
56$939,765$894,874$881,745$986,871
57$992,278$895,380$867,941$1,020,176
58$1,048,782$894,545$852,309$1,051,535
59$1,109,641$892,261$834,745$1,084,772
60$1,175,256$888,413$815,139$1,120,075
61$1,246,064$882,878$793,379$1,157,657
62$1,322,550$875,526$769,344$1,197,749
63$1,405,242$866,219$742,910$1,240,611
64$1,494,725$854,812$713,945$1,286,532
65$1,591,639$841,149$682,314$1,335,829
66$1,696,688$825,068$647,874$1,388,857
67$1,810,647$806,393$610,475$1,446,008
68$1,934,369$784,942$569,961$1,507,717
69$2,068,789$760,519$526,169$1,574,467
70$2,214,940$732,918$478,930$1,646,792
71$2,373,954$701,922$428,065$1,725,284
72$2,547,081$667,299$373,388$1,810,599
73$2,735,692$628,806$314,706$1,903,464
74$2,941,299$586,184$251,815$2,004,683
75$3,165,565$539,160$184,504$2,115,148
76$3,410,320$487,447$112,553$2,235,843
77$3,677,579$430,738$35,729$2,367,860
78$3,969,559$368,711$0$2,512,407
79$4,288,703$301,027$0$2,679,210
80$4,637,699$227,325$0$2,868,818
81$5,019,505$147,226$0$3,076,425
82$5,437,382$60,327$0$3,303,889
83$5,894,918$0$0$3,553,259
84$6,396,065$0$0$3,837,212
85$6,945,174$0$0$4,168,784
86$7,547,039$0$0$4,532,293
87$8,206,938$0$0$4,930,936
88$8,930,685$0$0$5,368,235
89$9,724,683$0$0$5,848,071
90$10,595,986$0$0$6,374,717
91$11,552,362$0$0$6,952,880
92$12,602,369$0$0$7,587,745
93$13,755,435$0$0$8,285,026
94$15,021,943$0$0$9,051,015
95$16,413,335$0$0$9,892,642
96$17,942,211$0$0$10,817,547
97$19,622,456$0$0$11,834,141
98$21,469,366$0$0$12,951,694
99$23,499,792$0$0$14,180,416
100$25,732,298$0$0$15,531,560