Can I retire at age 56 with 859,000?

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 $859,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12%
1 years$70,935$70,304$69,687$69,085$68,498$67,924
2 years$35,117$34,463$33,829$33,214$32,618$32,040
3 years$23,178$22,522$21,889$21,281$20,694$20,129
4 years$17,211$16,556$15,930$15,331$14,759$14,212
5 years$13,631$12,980$12,362$11,776$11,220$10,692
6 years$11,245$10,599$9,991$9,417$8,878$8,370
7 years$9,542$8,901$8,302$7,743$7,220$6,732
8 years$8,265$7,630$7,041$6,495$5,990$5,522
9 years$7,272$6,643$6,064$5,532$5,044$4,597
10 years$6,478$5,856$5,287$4,769$4,298$3,871
11 years$5,829$5,213$4,655$4,150$3,696$3,289
12 years$5,289$4,679$4,131$3,640$3,203$2,815
13 years$4,832$4,228$3,691$3,214$2,793$2,423
14 years$4,441$3,843$3,316$2,853$2,449$2,097
15 years$4,102$3,511$2,994$2,544$2,156$1,822
16 years$3,806$3,221$2,714$2,278$1,905$1,589
17 years$3,545$2,967$2,470$2,047$1,689$1,390
18 years$3,313$2,741$2,255$1,845$1,502$1,218
19 years$3,106$2,541$2,064$1,667$1,339$1,071
20 years$2,919$2,361$1,894$1,510$1,196$943
21 years$2,751$2,199$1,742$1,370$1,070$831
22 years$2,598$2,053$1,606$1,246$959$734
23 years$2,459$1,920$1,483$1,135$861$649
24 years$2,332$1,799$1,371$1,035$774$575
25 years$2,215$1,688$1,270$945$696$509
26 years$2,107$1,587$1,178$864$627$452
27 years$2,007$1,493$1,094$791$566$401
28 years$1,915$1,407$1,017$725$510$356
29 years$1,829$1,327$946$665$461$317
30 years$1,749$1,254$881$610$416$281
31 years$1,674$1,185$822$560$376$250
32 years$1,604$1,121$767$515$341$223
33 years$1,538$1,062$716$473$308$198
34 years$1,477$1,006$669$436$279$177
35 years$1,419$955$625$401$253$157
36 years$1,364$906$585$369$229$140
37 years$1,313$860$548$340$208$125
38 years$1,264$818$513$314$188$111
39 years$1,218$778$480$289$171$99
40 years$1,174$740$450$267$155$89
41 years$1,133$704$422$246$140$79
42 years$1,094$671$396$227$127$70
43 years$1,056$639$372$210$116$63
44 years$1,021$609$349$194$105$56
45 years$987$581$328$179$95$50
46 years$954$554$308$165$87$45
47 years$923$529$289$153$79$40
48 years$894$505$272$141$71$36
49 years$866$482$255$130$65$32
50 years$839$461$240$120$59$28

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $859,000, adding $4,135 every year, while hoping to spend $29,620 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: 59/25/16 Blend
55$859,000$859,000$859,000$859,000
56$950,883$905,356$892,042$1,002,851
57$1,016,358$918,203$890,410$1,051,304
58$1,087,518$930,687$887,730$1,100,479
59$1,164,913$942,759$883,937$1,153,418
60$1,249,146$954,365$878,960$1,210,487
61$1,340,880$965,451$872,728$1,272,093
62$1,440,848$975,956$865,162$1,338,681
63$1,549,854$985,817$856,184$1,410,746
64$1,668,782$994,965$845,709$1,488,831
65$1,798,607$1,003,328$833,650$1,573,536
66$1,940,403$1,010,829$819,915$1,665,523
67$2,095,349$1,017,384$804,407$1,765,523
68$2,264,746$1,022,907$787,026$1,874,341
69$2,450,025$1,027,305$767,666$1,992,866
70$2,652,762$1,030,477$746,218$2,122,079
71$2,874,692$1,032,320$722,565$2,263,061
72$3,117,727$1,032,720$696,587$2,417,006
73$3,383,971$1,031,559$668,158$2,585,230
74$3,675,741$1,028,710$637,147$2,769,185
75$3,995,590$1,024,040$603,414$2,970,472
76$4,346,328$1,017,406$566,817$3,190,859
77$4,731,052$1,008,657$527,204$3,432,293
78$5,153,172$997,634$484,418$3,696,925
79$5,616,444$984,167$438,294$3,987,124
80$6,125,006$968,075$388,661$4,305,506
81$6,683,415$949,170$335,340$4,654,955
82$7,296,692$927,248$278,143$5,038,651
83$7,970,368$902,096$216,874$5,460,102
84$8,710,535$873,489$151,329$5,923,176
85$9,523,906$841,186$81,294$6,432,139
86$10,417,875$804,934$6,548$6,991,697
87$11,400,588$764,466$0$7,607,037
88$12,481,021$719,498$0$8,296,381
89$13,669,062$669,730$0$9,055,542
90$14,975,605$614,845$0$9,890,402
91$16,412,652$554,508$0$10,808,676
92$17,993,428$488,365$0$11,818,869
93$19,732,505$416,041$0$12,930,358
94$21,645,935$337,142$0$14,153,475
95$23,751,408$251,249$0$15,499,612
96$26,068,412$157,921$0$16,981,324
97$28,618,424$56,693$0$18,612,452
98$31,425,104$0$0$20,408,251
99$34,514,525$0$0$22,400,096
100$37,915,415$0$0$24,610,009