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%18.5%
1 years$70,523$69,894$69,281$68,683$68,099$65,761
2 years$34,912$34,262$33,632$33,021$32,428$30,097
3 years$23,044$22,391$21,762$21,157$20,574$18,322
4 years$17,110$16,459$15,837$15,242$14,673$12,518
5 years$13,551$12,904$12,290$11,708$11,154$9,102
6 years$11,180$10,537$9,932$9,363$8,826$6,878
7 years$9,486$8,849$8,254$7,697$7,178$5,333
8 years$8,217$7,585$7,000$6,457$5,955$4,212
9 years$7,230$6,605$6,029$5,500$5,015$3,372
10 years$6,441$5,822$5,256$4,741$4,273$2,728
11 years$5,795$5,183$4,628$4,126$3,675$2,224
12 years$5,258$4,652$4,107$3,619$3,185$1,825
13 years$4,804$4,204$3,669$3,195$2,777$1,505
14 years$4,415$3,821$3,297$2,836$2,434$1,246
15 years$4,078$3,491$2,977$2,530$2,143$1,035
16 years$3,784$3,203$2,699$2,265$1,894$862
17 years$3,524$2,949$2,456$2,035$1,680$719
18 years$3,294$2,725$2,242$1,834$1,493$601
19 years$3,088$2,526$2,052$1,657$1,331$504
20 years$2,902$2,347$1,883$1,501$1,189$422
21 years$2,735$2,186$1,732$1,362$1,064$354
22 years$2,583$2,041$1,597$1,239$954$298
23 years$2,445$1,909$1,474$1,128$856$250
24 years$2,318$1,788$1,363$1,029$770$211
25 years$2,202$1,678$1,263$940$692$177
26 years$2,094$1,577$1,171$859$624$149
27 years$1,995$1,484$1,088$786$562$126
28 years$1,903$1,399$1,011$720$507$106
29 years$1,818$1,320$941$661$458$89
30 years$1,738$1,246$876$606$414$75
31 years$1,664$1,178$817$557$374$63
32 years$1,595$1,115$762$512$339$53
33 years$1,529$1,056$712$471$306$45
34 years$1,468$1,001$665$433$277$38
35 years$1,411$949$622$399$251$32
36 years$1,356$901$582$367$228$27
37 years$1,305$855$544$338$206$23
38 years$1,257$813$510$312$187$19
39 years$1,211$773$478$287$170$16
40 years$1,168$736$448$265$154$14
41 years$1,126$700$420$245$140$12
42 years$1,087$667$394$226$127$10
43 years$1,050$635$369$208$115$8
44 years$1,015$606$347$192$104$7
45 years$981$577$326$178$95$6
46 years$949$551$306$164$86$5
47 years$918$526$287$152$78$4
48 years$889$502$270$140$71$4
49 years$861$479$254$130$64$3
50 years$834$458$239$120$59$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $854,000, adding $5,718 every year, while hoping to spend $41,083 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: 42/47/11 Blend
55$854,000$854,000$854,000$854,000
56$947,006$901,744$888,507$983,499
57$999,889$902,218$874,560$1,010,074
58$1,056,788$901,337$858,769$1,034,276
59$1,118,072$898,994$841,028$1,059,566
60$1,184,141$895,070$821,229$1,086,062
61$1,255,438$889,443$799,254$1,113,894
62$1,332,448$881,982$774,985$1,143,208
63$1,415,706$872,546$748,295$1,174,169
64$1,505,797$860,991$719,052$1,206,960
65$1,603,367$847,158$687,119$1,241,788
66$1,709,124$830,882$652,351$1,278,883
67$1,823,848$811,989$614,599$1,318,501
68$1,948,397$790,292$573,704$1,360,932
69$2,083,712$765,596$529,502$1,406,495
70$2,230,833$737,692$481,822$1,455,549
71$2,390,898$706,359$430,484$1,508,493
72$2,565,165$671,366$375,300$1,565,772
73$2,755,015$632,466$316,075$1,627,883
74$2,961,967$589,398$252,605$1,695,376
75$3,187,696$541,886$184,675$1,768,868
76$3,434,043$489,641$112,064$1,849,041
77$3,703,035$432,353$34,538$1,936,655
78$3,996,904$369,698$0$2,032,557
79$4,318,106$301,331$0$2,143,341
80$4,669,348$226,891$0$2,269,088
81$5,053,605$145,992$0$2,406,929
82$5,474,159$58,232$0$2,558,181
83$5,934,619$0$0$2,724,306
84$6,438,962$0$0$2,925,962
85$6,991,567$0$0$3,180,021
86$7,597,256$0$0$3,458,596
87$8,261,341$0$0$3,764,143
88$8,989,672$0$0$4,099,368
89$9,788,690$0$0$4,467,251
90$10,665,494$0$0$4,871,076
91$11,627,901$0$0$5,314,458
92$12,684,520$0$0$5,801,380
93$13,844,837$0$0$6,336,232
94$15,119,302$0$0$6,923,846
95$16,519,424$0$0$7,569,548
96$18,057,883$0$0$8,279,205
97$19,748,651$0$0$9,059,281
98$21,607,116$0$0$9,916,896
99$23,650,233$0$0$10,859,894
100$25,896,683$0$0$11,896,920