Can I retire at age 56 with 848,000?

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 $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%12.2%
1 years$70,027$69,403$68,795$68,201$67,621$66,998
2 years$34,667$34,021$33,395$32,789$32,200$31,573
3 years$22,882$22,233$21,609$21,008$20,429$19,817
4 years$16,990$16,344$15,726$15,135$14,570$13,977
5 years$13,456$12,814$12,204$11,625$11,076$10,504
6 years$11,101$10,463$9,863$9,297$8,764$8,214
7 years$9,419$8,787$8,196$7,643$7,128$6,600
8 years$8,159$7,532$6,951$6,412$5,913$5,408
9 years$7,179$6,558$5,987$5,461$4,980$4,496
10 years$6,395$5,781$5,219$4,708$4,243$3,781
11 years$5,755$5,146$4,595$4,097$3,649$3,209
12 years$5,221$4,619$4,078$3,594$3,162$2,743
13 years$4,770$4,174$3,643$3,173$2,757$2,358
14 years$4,384$3,794$3,274$2,816$2,417$2,038
15 years$4,049$3,466$2,956$2,512$2,128$1,768
16 years$3,757$3,180$2,680$2,249$1,881$1,540
17 years$3,499$2,929$2,438$2,021$1,668$1,345
18 years$3,270$2,706$2,226$1,821$1,483$1,178
19 years$3,066$2,508$2,038$1,646$1,322$1,033
20 years$2,882$2,331$1,870$1,490$1,181$909
21 years$2,716$2,171$1,720$1,353$1,057$800
22 years$2,565$2,026$1,585$1,230$947$706
23 years$2,428$1,895$1,464$1,120$850$623
24 years$2,302$1,776$1,354$1,022$764$551
25 years$2,186$1,667$1,254$933$688$487
26 years$2,080$1,566$1,163$853$619$431
27 years$1,981$1,474$1,080$781$558$382
28 years$1,890$1,389$1,004$715$504$339
29 years$1,805$1,310$934$656$455$301
30 years$1,726$1,237$870$602$411$267
31 years$1,652$1,170$811$553$372$237
32 years$1,583$1,107$757$508$336$211
33 years$1,519$1,048$707$467$304$187
34 years$1,458$993$660$430$275$167
35 years$1,401$942$617$396$250$148
36 years$1,347$894$578$365$226$132
37 years$1,296$849$541$336$205$117
38 years$1,248$807$506$310$186$104
39 years$1,202$768$474$285$168$93
40 years$1,159$730$445$263$153$83
41 years$1,118$695$417$243$139$74
42 years$1,080$662$391$224$126$65
43 years$1,043$631$367$207$114$58
44 years$1,008$601$344$191$104$52
45 years$974$573$323$176$94$46
46 years$942$547$304$163$85$41
47 years$912$522$285$151$78$37
48 years$882$498$268$139$70$33
49 years$855$476$252$129$64$29
50 years$828$455$237$119$58$26

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $848,000, adding $6,450 every year, while hoping to spend $28,802 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: 65/16/19 Blend
55$848,000$848,000$848,000$848,000
56$941,149$896,205$883,061$997,431
57$1,006,501$909,474$881,999$1,049,264
58$1,077,554$922,428$879,935$1,102,005
59$1,154,858$935,021$876,807$1,158,958
60$1,239,021$947,204$872,547$1,220,534
61$1,330,708$958,924$867,084$1,287,190
62$1,430,655$970,126$860,346$1,359,427
63$1,539,669$980,749$852,255$1,437,798
64$1,658,639$990,730$842,730$1,522,916
65$1,788,546$1,000,001$831,686$1,615,451
66$1,930,465$1,008,489$819,036$1,716,149
67$2,085,585$1,016,117$804,685$1,825,826
68$2,255,210$1,022,802$788,538$1,945,385
69$2,440,779$1,028,457$770,492$2,075,823
70$2,643,876$1,032,989$750,440$2,218,237
71$2,866,243$1,036,297$728,272$2,373,838
72$3,109,802$1,038,278$703,872$2,543,960
73$3,376,667$1,038,819$677,117$2,730,077
74$3,669,167$1,037,801$647,880$2,933,810
75$3,989,866$1,035,097$616,028$3,156,950
76$4,341,590$1,030,574$581,422$3,401,471
77$4,727,449$1,024,089$543,916$3,669,548
78$5,150,871$1,015,491$503,360$3,963,583
79$5,615,630$1,004,621$459,593$4,286,220
80$6,125,885$991,308$412,449$4,640,378
81$6,686,216$975,373$361,757$5,029,273
82$7,301,668$956,625$307,335$5,456,452
83$7,977,801$934,862$248,993$5,925,825
84$8,720,737$909,870$186,535$6,441,705
85$9,537,223$881,424$119,754$7,008,846
86$10,434,689$849,284$48,435$7,632,487
87$11,421,324$813,196$0$8,318,409
88$12,506,149$772,892$0$9,078,590
89$13,699,101$728,088$0$9,925,289
90$15,011,129$678,485$0$10,856,468
91$16,454,298$623,764$0$11,880,715
92$18,041,900$563,592$0$13,007,493
93$19,788,578$497,613$0$14,247,234
94$21,710,470$425,452$0$15,611,432
95$23,825,353$346,715$0$17,112,755
96$26,152,818$260,982$0$18,765,165
97$28,714,448$167,813$0$20,584,049
98$31,534,027$66,741$0$22,586,363
99$34,637,760$0$0$24,790,795
100$38,054,523$0$0$27,225,464