Can I retire at age 56 with 854,000?

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 $854,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.4%
1 years$70,523$69,894$69,281$68,683$68,099$67,698
2 years$34,912$34,262$33,632$33,021$32,428$32,024
3 years$23,044$22,391$21,762$21,157$20,574$20,178
4 years$17,110$16,459$15,837$15,242$14,673$14,290
5 years$13,551$12,904$12,290$11,708$11,154$10,784
6 years$11,180$10,537$9,932$9,363$8,826$8,470
7 years$9,486$8,849$8,254$7,697$7,178$6,835
8 years$8,217$7,585$7,000$6,457$5,955$5,626
9 years$7,230$6,605$6,029$5,500$5,015$4,700
10 years$6,441$5,822$5,256$4,741$4,273$3,971
11 years$5,795$5,183$4,628$4,126$3,675$3,386
12 years$5,258$4,652$4,107$3,619$3,185$2,909
13 years$4,804$4,204$3,669$3,195$2,777$2,515
14 years$4,415$3,821$3,297$2,836$2,434$2,184
15 years$4,078$3,491$2,977$2,530$2,143$1,906
16 years$3,784$3,203$2,699$2,265$1,894$1,668
17 years$3,524$2,949$2,456$2,035$1,680$1,465
18 years$3,294$2,725$2,242$1,834$1,493$1,290
19 years$3,088$2,526$2,052$1,657$1,331$1,139
20 years$2,902$2,347$1,883$1,501$1,189$1,007
21 years$2,735$2,186$1,732$1,362$1,064$892
22 years$2,583$2,041$1,597$1,239$954$791
23 years$2,445$1,909$1,474$1,128$856$703
24 years$2,318$1,788$1,363$1,029$770$625
25 years$2,202$1,678$1,263$940$692$557
26 years$2,094$1,577$1,171$859$624$496
27 years$1,995$1,484$1,088$786$562$442
28 years$1,903$1,399$1,011$720$507$395
29 years$1,818$1,320$941$661$458$353
30 years$1,738$1,246$876$606$414$315
31 years$1,664$1,178$817$557$374$282
32 years$1,595$1,115$762$512$339$252
33 years$1,529$1,056$712$471$306$225
34 years$1,468$1,001$665$433$277$202
35 years$1,411$949$622$399$251$181
36 years$1,356$901$582$367$228$162
37 years$1,305$855$544$338$206$145
38 years$1,257$813$510$312$187$130
39 years$1,211$773$478$287$170$116
40 years$1,168$736$448$265$154$104
41 years$1,126$700$420$245$140$93
42 years$1,087$667$394$226$127$84
43 years$1,050$635$369$208$115$75
44 years$1,015$606$347$192$104$67
45 years$981$577$326$178$95$60
46 years$949$551$306$164$86$54
47 years$918$526$287$152$78$49
48 years$889$502$270$140$71$44
49 years$861$479$254$130$64$39
50 years$834$458$239$120$59$35

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $854,000, adding $6,462 every year, while hoping to spend $46,942 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: 67/24/9 Blend
55$854,000$854,000$854,000$854,000
56$947,774$902,512$889,275$1,009,157
57$994,501$896,789$869,119$1,045,047
58$1,044,420$889,212$846,716$1,078,045
59$1,097,809$879,641$821,938$1,112,884
60$1,154,970$867,928$794,657$1,149,741
61$1,216,234$853,914$764,736$1,188,807
62$1,281,966$837,431$732,030$1,230,296
63$1,352,565$818,305$696,392$1,274,445
64$1,428,471$796,345$657,665$1,321,516
65$1,510,164$771,355$615,686$1,371,799
66$1,598,173$743,125$570,285$1,425,617
67$1,693,080$711,431$521,282$1,483,326
68$1,795,522$676,038$468,492$1,545,321
69$1,906,199$636,699$411,722$1,612,038
70$2,025,884$593,149$350,766$1,683,961
71$2,155,421$545,110$285,414$1,761,627
72$2,295,743$492,289$215,444$1,845,627
73$2,447,872$434,375$140,625$1,936,619
74$2,612,934$371,039$60,715$2,035,327
75$2,792,167$301,933$0$2,142,556
76$2,986,932$226,692$0$2,261,552
77$3,198,727$144,928$0$2,397,316
78$3,429,200$56,232$0$2,545,124
79$3,680,163$0$0$2,706,206
80$3,953,612$0$0$2,892,440
81$4,251,742$0$0$3,111,721
82$4,576,970$0$0$3,350,983
83$4,931,954$0$0$3,612,188
84$5,319,623$0$0$3,897,497
85$5,743,199$0$0$4,209,290
86$6,206,231$0$0$4,550,184
87$6,712,625$0$0$4,923,063
88$7,266,682$0$0$5,331,101
89$7,873,138$0$0$5,777,795
90$8,537,207$0$0$6,266,993
91$9,264,634$0$0$6,802,936
92$10,061,742$0$0$7,390,291
93$10,935,496$0$0$8,034,200
94$11,893,569$0$0$8,740,326
95$12,944,408$0$0$9,514,906
96$14,097,321$0$0$10,364,809
97$15,362,557$0$0$11,297,604
98$16,751,407$0$0$12,321,624
99$18,276,309$0$0$13,446,052
100$19,950,962$0$0$14,681,001