Can I retire at age 56 with 856,000?

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 $856,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.8%
1 years$70,688$70,058$69,444$68,844$68,259$67,743
2 years$34,994$34,342$33,711$33,098$32,504$31,985
3 years$23,098$22,443$21,813$21,206$20,622$20,114
4 years$17,151$16,498$15,874$15,278$14,708$14,216
5 years$13,583$12,935$12,319$11,735$11,181$10,706
6 years$11,206$10,562$9,956$9,385$8,847$8,390
7 years$9,508$8,870$8,273$7,716$7,195$6,756
8 years$8,236$7,603$7,016$6,472$5,969$5,548
9 years$7,247$6,620$6,043$5,513$5,027$4,624
10 years$6,456$5,835$5,269$4,752$4,283$3,898
11 years$5,809$5,195$4,638$4,136$3,683$3,316
12 years$5,270$4,663$4,116$3,628$3,192$2,841
13 years$4,815$4,214$3,678$3,203$2,783$2,450
14 years$4,425$3,830$3,304$2,843$2,440$2,122
15 years$4,088$3,499$2,983$2,535$2,148$1,847
16 years$3,792$3,210$2,705$2,270$1,899$1,612
17 years$3,532$2,956$2,461$2,040$1,684$1,412
18 years$3,301$2,732$2,247$1,838$1,497$1,240
19 years$3,095$2,532$2,057$1,661$1,334$1,091
20 years$2,909$2,353$1,888$1,504$1,192$962
21 years$2,742$2,191$1,736$1,365$1,066$850
22 years$2,589$2,046$1,600$1,241$956$752
23 years$2,451$1,913$1,478$1,131$858$666
24 years$2,324$1,793$1,367$1,031$771$590
25 years$2,207$1,682$1,266$942$694$524
26 years$2,099$1,581$1,174$861$625$465
27 years$2,000$1,488$1,090$788$564$414
28 years$1,908$1,402$1,013$722$509$368
29 years$1,822$1,323$943$662$459$328
30 years$1,742$1,249$878$608$415$292
31 years$1,668$1,181$819$558$375$260
32 years$1,598$1,117$764$513$339$232
33 years$1,533$1,058$713$472$307$207
34 years$1,472$1,003$667$434$278$184
35 years$1,414$951$623$400$252$164
36 years$1,360$903$583$368$228$147
37 years$1,308$857$546$339$207$131
38 years$1,260$815$511$312$188$117
39 years$1,214$775$479$288$170$105
40 years$1,170$737$449$266$154$93
41 years$1,129$702$421$245$140$83
42 years$1,090$668$395$226$127$75
43 years$1,053$637$370$209$115$67
44 years$1,017$607$348$193$105$60
45 years$983$579$326$178$95$53
46 years$951$552$307$165$86$48
47 years$920$527$288$152$78$42
48 years$891$503$271$140$71$38
49 years$863$480$254$130$65$34
50 years$836$459$239$120$59$30

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $856,000, adding $3,028 every year, while hoping to spend $35,354 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: 85/6/9 Blend
55$856,000$856,000$856,000$856,000
56$946,435$901,067$887,799$1,025,528
57$1,005,355$907,603$879,924$1,084,172
58$1,069,100$913,275$870,600$1,143,482
59$1,138,125$918,001$859,742$1,207,538
60$1,212,930$921,699$847,259$1,276,796
61$1,294,064$924,278$833,058$1,351,756
62$1,382,132$925,641$817,039$1,432,970
63$1,477,800$925,688$799,100$1,521,044
64$1,581,798$924,309$779,133$1,616,648
65$1,694,932$921,391$757,024$1,720,517
66$1,818,087$916,812$732,657$1,833,462
67$1,952,238$910,441$705,906$1,956,377
68$2,098,456$902,143$676,644$2,090,245
69$2,257,922$891,771$644,735$2,236,150
70$2,431,934$879,172$610,038$2,395,286
71$2,621,922$864,182$572,405$2,568,968
72$2,829,460$846,628$531,682$2,758,646
73$3,056,279$826,328$487,708$2,965,915
74$3,304,288$803,086$440,314$3,192,534
75$3,575,587$776,699$389,326$3,440,441
76$3,872,487$746,947$334,559$3,711,773
77$4,197,534$713,602$275,820$4,008,881
78$4,553,534$676,419$212,911$4,334,358
79$4,943,572$635,142$145,622$4,691,061
80$5,371,051$589,498$73,734$5,082,137
81$5,839,714$539,199$0$5,511,057
82$6,353,686$483,941$0$5,981,927
83$6,917,511$423,403$0$6,506,251
84$7,536,191$357,244$0$7,081,604
85$8,215,240$285,106$0$7,713,128
86$8,960,728$206,610$0$8,406,485
87$9,779,343$121,355$0$9,167,914
88$10,678,452$28,917$0$10,004,291
89$11,666,171$0$0$10,923,188
90$12,751,441$0$0$11,937,649
91$13,944,112$0$0$13,054,614
92$15,255,033$0$0$14,282,339
93$16,696,159$0$0$15,632,020
94$18,280,662$0$0$17,115,995
95$20,023,051$0$0$18,747,854
96$21,939,314$0$0$20,542,574
97$24,047,063$0$0$22,516,651
98$26,365,705$0$0$24,688,264
99$28,916,624$0$0$27,077,442
100$31,723,377$0$0$29,706,251