Can I retire at age 56 with 848,000?

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 $848,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.1%
1 years$70,027$69,403$68,795$68,201$67,621$65,144
2 years$34,667$34,021$33,395$32,789$32,200$29,732
3 years$22,882$22,233$21,609$21,008$20,429$18,048
4 years$16,990$16,344$15,726$15,135$14,570$12,294
5 years$13,456$12,814$12,204$11,625$11,076$8,910
6 years$11,101$10,463$9,863$9,297$8,764$6,711
7 years$9,419$8,787$8,196$7,643$7,128$5,186
8 years$8,159$7,532$6,951$6,412$5,913$4,082
9 years$7,179$6,558$5,987$5,461$4,980$3,256
10 years$6,395$5,781$5,219$4,708$4,243$2,623
11 years$5,755$5,146$4,595$4,097$3,649$2,131
12 years$5,221$4,619$4,078$3,594$3,162$1,741
13 years$4,770$4,174$3,643$3,173$2,757$1,430
14 years$4,384$3,794$3,274$2,816$2,417$1,179
15 years$4,049$3,466$2,956$2,512$2,128$975
16 years$3,757$3,180$2,680$2,249$1,881$808
17 years$3,499$2,929$2,438$2,021$1,668$672
18 years$3,270$2,706$2,226$1,821$1,483$559
19 years$3,066$2,508$2,038$1,646$1,322$466
20 years$2,882$2,331$1,870$1,490$1,181$389
21 years$2,716$2,171$1,720$1,353$1,057$325
22 years$2,565$2,026$1,585$1,230$947$272
23 years$2,428$1,895$1,464$1,120$850$227
24 years$2,302$1,776$1,354$1,022$764$190
25 years$2,186$1,667$1,254$933$688$159
26 years$2,080$1,566$1,163$853$619$134
27 years$1,981$1,474$1,080$781$558$112
28 years$1,890$1,389$1,004$715$504$94
29 years$1,805$1,310$934$656$455$79
30 years$1,726$1,237$870$602$411$66
31 years$1,652$1,170$811$553$372$55
32 years$1,583$1,107$757$508$336$46
33 years$1,519$1,048$707$467$304$39
34 years$1,458$993$660$430$275$33
35 years$1,401$942$617$396$250$27
36 years$1,347$894$578$365$226$23
37 years$1,296$849$541$336$205$19
38 years$1,248$807$506$310$186$16
39 years$1,202$768$474$285$168$14
40 years$1,159$730$445$263$153$11
41 years$1,118$695$417$243$139$10
42 years$1,080$662$391$224$126$8
43 years$1,043$631$367$207$114$7
44 years$1,008$601$344$191$104$6
45 years$974$573$323$176$94$5
46 years$942$547$304$163$85$4
47 years$912$522$285$151$78$3
48 years$882$498$268$139$70$3
49 years$855$476$252$129$64$2
50 years$828$455$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 $848,000, adding $2,664 every year, while hoping to spend $46,923 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: 35/44/21 Blend
55$848,000$848,000$848,000$848,000
56$937,244$892,300$879,156$963,976
57$982,917$886,097$858,682$977,672
58$1,031,676$878,017$835,949$987,917
59$1,083,787$867,920$810,833$998,008
60$1,139,539$855,654$783,202$1,007,961
61$1,199,252$841,061$752,920$1,017,795
62$1,263,276$823,973$719,842$1,027,538
63$1,331,993$804,211$683,820$1,037,221
64$1,405,825$781,586$644,697$1,046,886
65$1,485,235$755,899$602,309$1,056,584
66$1,570,728$726,937$556,486$1,066,375
67$1,662,863$694,478$507,049$1,076,334
68$1,762,251$658,283$453,811$1,086,545
69$1,869,564$618,103$396,578$1,097,111
70$1,985,542$573,672$335,145$1,108,150
71$2,110,996$524,710$269,301$1,119,799
72$2,246,818$470,922$198,824$1,132,220
73$2,393,990$411,994$123,481$1,145,594
74$2,553,590$347,595$43,031$1,160,133
75$2,726,806$277,376$0$1,176,080
76$2,914,940$200,968$0$1,203,305
77$3,119,430$117,981$0$1,243,440
78$3,341,853$28,004$0$1,287,252
79$3,583,947$0$0$1,335,209
80$3,847,623$0$0$1,421,439
81$4,134,985$0$0$1,530,303
82$4,448,347$0$0$1,649,133
83$4,790,257$0$0$1,778,910
84$5,163,520$0$0$1,920,714
85$5,571,222$0$0$2,075,733
86$6,016,762$0$0$2,245,275
87$6,503,881$0$0$2,430,782
88$7,036,698$0$0$2,633,840
89$7,619,750$0$0$2,856,197
90$8,258,031$0$0$3,099,775
91$8,957,039$0$0$3,366,694
92$9,722,833$0$0$3,659,288
93$10,562,080$0$0$3,980,125
94$11,482,128$0$0$4,332,037
95$12,491,066$0$0$4,718,141
96$13,597,805$0$0$5,141,871
97$14,812,160$0$0$5,607,009
98$16,144,942$0$0$6,117,723
99$17,608,059$0$0$6,678,601
100$19,214,628$0$0$7,294,701