Can I retire at age 56 with 856,000?

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 $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%11.1%
1 years$70,688$70,058$69,444$68,844$68,259$67,942
2 years$34,994$34,342$33,711$33,098$32,504$32,185
3 years$23,098$22,443$21,813$21,206$20,622$20,310
4 years$17,151$16,498$15,874$15,278$14,708$14,405
5 years$13,583$12,935$12,319$11,735$11,181$10,888
6 years$11,206$10,562$9,956$9,385$8,847$8,565
7 years$9,508$8,870$8,273$7,716$7,195$6,923
8 years$8,236$7,603$7,016$6,472$5,969$5,708
9 years$7,247$6,620$6,043$5,513$5,027$4,777
10 years$6,456$5,835$5,269$4,752$4,283$4,044
11 years$5,809$5,195$4,638$4,136$3,683$3,454
12 years$5,270$4,663$4,116$3,628$3,192$2,973
13 years$4,815$4,214$3,678$3,203$2,783$2,575
14 years$4,425$3,830$3,304$2,843$2,440$2,241
15 years$4,088$3,499$2,983$2,535$2,148$1,959
16 years$3,792$3,210$2,705$2,270$1,899$1,719
17 years$3,532$2,956$2,461$2,040$1,684$1,513
18 years$3,301$2,732$2,247$1,838$1,497$1,335
19 years$3,095$2,532$2,057$1,661$1,334$1,180
20 years$2,909$2,353$1,888$1,504$1,192$1,046
21 years$2,742$2,191$1,736$1,365$1,066$929
22 years$2,589$2,046$1,600$1,241$956$826
23 years$2,451$1,913$1,478$1,131$858$735
24 years$2,324$1,793$1,367$1,031$771$655
25 years$2,207$1,682$1,266$942$694$585
26 years$2,099$1,581$1,174$861$625$522
27 years$2,000$1,488$1,090$788$564$467
28 years$1,908$1,402$1,013$722$509$418
29 years$1,822$1,323$943$662$459$374
30 years$1,742$1,249$878$608$415$335
31 years$1,668$1,181$819$558$375$300
32 years$1,598$1,117$764$513$339$269
33 years$1,533$1,058$713$472$307$241
34 years$1,472$1,003$667$434$278$217
35 years$1,414$951$623$400$252$194
36 years$1,360$903$583$368$228$174
37 years$1,308$857$546$339$207$157
38 years$1,260$815$511$312$188$141
39 years$1,214$775$479$288$170$126
40 years$1,170$737$449$266$154$114
41 years$1,129$702$421$245$140$102
42 years$1,090$668$395$226$127$92
43 years$1,053$637$370$209$115$83
44 years$1,017$607$348$193$105$74
45 years$983$579$326$178$95$67
46 years$951$552$307$165$86$60
47 years$920$527$288$152$78$54
48 years$891$503$271$140$71$49
49 years$863$480$254$130$65$44
50 years$836$459$239$120$59$39

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $856,000, adding $3,638 every year, while hoping to spend $56,424 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: 42/44/14 Blend
55$856,000$856,000$856,000$856,000
56$947,065$901,697$888,429$982,814
57$983,630$885,845$858,156$992,449
58$1,022,035$867,326$824,979$997,006
59$1,062,406$845,948$788,739$1,000,716
60$1,104,883$821,511$749,273$1,003,525
61$1,149,617$793,801$706,410$1,005,382
62$1,196,773$762,592$659,970$1,006,231
63$1,246,531$727,646$609,765$1,006,020
64$1,299,086$688,710$555,601$1,004,693
65$1,354,652$645,516$497,273$1,002,198
66$1,413,462$597,782$434,568$998,480
67$1,475,771$545,209$367,261$993,487
68$1,541,856$487,481$295,122$987,170
69$1,612,022$424,264$217,905$979,479
70$1,686,602$355,207$135,358$970,369
71$1,765,959$279,935$47,216$959,798
72$1,850,490$198,055$0$947,729
73$1,940,633$109,153$0$941,128
74$2,036,863$12,787$0$940,954
75$2,139,706$0$0$940,175
76$2,249,733$0$0$983,134
77$2,367,574$0$0$1,035,844
78$2,493,919$0$0$1,092,433
79$2,629,524$0$0$1,153,248
80$2,775,219$0$0$1,218,671
81$2,931,915$0$0$1,289,124
82$3,100,614$0$0$1,365,066
83$3,282,414$0$0$1,447,004
84$3,478,521$0$0$1,535,496
85$3,690,263$0$0$1,631,151
86$3,919,096$0$0$1,734,643
87$4,166,621$0$0$1,846,711
88$4,434,599$0$0$1,968,166
89$4,724,964$0$0$2,099,902
90$5,039,845$0$0$2,242,901
91$5,381,581$0$0$2,398,243
92$5,752,745$0$0$2,567,117
93$6,156,170$0$0$2,750,830
94$6,594,967$0$0$2,950,821
95$7,072,565$0$0$3,168,672
96$7,592,732$0$0$3,406,125
97$8,159,617$0$0$3,665,097
98$8,777,786$0$0$3,947,698
99$9,452,264$0$0$4,256,251
100$10,188,582$0$0$4,593,311