Can I retire at age 56 with 854,000?

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 $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%16.2%
1 years$70,523$69,894$69,281$68,683$68,099$66,372
2 years$34,912$34,262$33,632$33,021$32,428$30,699
3 years$23,044$22,391$21,762$21,157$20,574$18,897
4 years$17,110$16,459$15,837$15,242$14,673$13,062
5 years$13,551$12,904$12,290$11,708$11,154$9,613
6 years$11,180$10,537$9,932$9,363$8,826$7,356
7 years$9,486$8,849$8,254$7,697$7,178$5,779
8 years$8,217$7,585$7,000$6,457$5,955$4,627
9 years$7,230$6,605$6,029$5,500$5,015$3,756
10 years$6,441$5,822$5,256$4,741$4,273$3,083
11 years$5,795$5,183$4,628$4,126$3,675$2,551
12 years$5,258$4,652$4,107$3,619$3,185$2,125
13 years$4,804$4,204$3,669$3,195$2,777$1,780
14 years$4,415$3,821$3,297$2,836$2,434$1,497
15 years$4,078$3,491$2,977$2,530$2,143$1,264
16 years$3,784$3,203$2,699$2,265$1,894$1,070
17 years$3,524$2,949$2,456$2,035$1,680$908
18 years$3,294$2,725$2,242$1,834$1,493$773
19 years$3,088$2,526$2,052$1,657$1,331$658
20 years$2,902$2,347$1,883$1,501$1,189$562
21 years$2,735$2,186$1,732$1,362$1,064$480
22 years$2,583$2,041$1,597$1,239$954$410
23 years$2,445$1,909$1,474$1,128$856$351
24 years$2,318$1,788$1,363$1,029$770$301
25 years$2,202$1,678$1,263$940$692$258
26 years$2,094$1,577$1,171$859$624$221
27 years$1,995$1,484$1,088$786$562$190
28 years$1,903$1,399$1,011$720$507$163
29 years$1,818$1,320$941$661$458$140
30 years$1,738$1,246$876$606$414$120
31 years$1,664$1,178$817$557$374$103
32 years$1,595$1,115$762$512$339$89
33 years$1,529$1,056$712$471$306$76
34 years$1,468$1,001$665$433$277$66
35 years$1,411$949$622$399$251$56
36 years$1,356$901$582$367$228$49
37 years$1,305$855$544$338$206$42
38 years$1,257$813$510$312$187$36
39 years$1,211$773$478$287$170$31
40 years$1,168$736$448$265$154$27
41 years$1,126$700$420$245$140$23
42 years$1,087$667$394$226$127$20
43 years$1,050$635$369$208$115$17
44 years$1,015$606$347$192$104$15
45 years$981$577$326$178$95$13
46 years$949$551$306$164$86$11
47 years$918$526$287$152$78$9
48 years$889$502$270$140$71$8
49 years$861$479$254$130$64$7
50 years$834$458$239$120$59$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $854,000, adding $6,454 every year, while hoping to spend $42,710 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: 62/17/21 Blend
55$854,000$854,000$854,000$854,000
56$947,765$902,503$889,266$1,000,973
57$998,994$901,283$873,614$1,036,455
58$1,054,017$898,571$856,005$1,069,856
59$1,113,176$894,250$836,330$1,105,351
60$1,176,845$888,194$814,473$1,143,149
61$1,245,439$880,270$790,313$1,183,481
62$1,319,407$870,338$763,722$1,226,605
63$1,399,250$858,247$734,570$1,272,805
64$1,485,512$843,840$702,716$1,322,395
65$1,578,794$826,948$668,017$1,375,726
66$1,679,756$807,394$630,321$1,433,183
67$1,789,124$784,989$589,470$1,495,195
68$1,907,696$759,534$545,298$1,562,235
69$2,036,349$730,819$497,633$1,634,828
70$2,176,047$698,620$446,295$1,713,555
71$2,327,852$662,701$391,094$1,799,057
72$2,492,932$622,812$331,835$1,892,044
73$2,672,570$578,689$268,310$1,993,304
74$2,868,180$530,053$200,307$2,103,705
75$3,081,318$476,608$127,600$2,224,209
76$3,313,693$418,043$49,956$2,355,879
77$3,567,191$354,028$0$2,499,889
78$3,843,883$284,215$0$2,664,913
79$4,146,053$208,235$0$2,857,438
80$4,476,212$125,700$0$3,067,905
81$4,837,125$36,199$0$3,298,131
82$5,231,839$0$0$3,550,118
83$5,663,705$0$0$3,837,430
84$6,136,416$0$0$4,159,389
85$6,654,036$0$0$4,512,000
86$7,221,042$0$0$4,898,320
87$7,842,363$0$0$5,321,718
88$8,523,430$0$0$5,785,900
89$9,270,222$0$0$6,294,952
90$10,089,325$0$0$6,853,373
91$10,987,993$0$0$7,466,117
92$11,974,216$0$0$8,138,642
93$13,056,795$0$0$8,876,961
94$14,245,425$0$0$9,687,696
95$15,550,786$0$0$10,578,143
96$16,984,643$0$0$11,556,337
97$18,559,954$0$0$12,631,133
98$20,290,998$0$0$13,812,284
99$22,193,503$0$0$15,110,534
100$24,284,798$0$0$16,537,722