Can I retire at age 56 with 859,000?

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 $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%11.9%
1 years$70,935$70,304$69,687$69,085$68,498$67,952
2 years$35,117$34,463$33,829$33,214$32,618$32,068
3 years$23,178$22,522$21,889$21,281$20,694$20,157
4 years$17,211$16,556$15,930$15,331$14,759$14,239
5 years$13,631$12,980$12,362$11,776$11,220$10,718
6 years$11,245$10,599$9,991$9,417$8,878$8,395
7 years$9,542$8,901$8,302$7,743$7,220$6,756
8 years$8,265$7,630$7,041$6,495$5,990$5,545
9 years$7,272$6,643$6,064$5,532$5,044$4,618
10 years$6,478$5,856$5,287$4,769$4,298$3,891
11 years$5,829$5,213$4,655$4,150$3,696$3,308
12 years$5,289$4,679$4,131$3,640$3,203$2,833
13 years$4,832$4,228$3,691$3,214$2,793$2,441
14 years$4,441$3,843$3,316$2,853$2,449$2,113
15 years$4,102$3,511$2,994$2,544$2,156$1,838
16 years$3,806$3,221$2,714$2,278$1,905$1,603
17 years$3,545$2,967$2,470$2,047$1,689$1,403
18 years$3,313$2,741$2,255$1,845$1,502$1,231
19 years$3,106$2,541$2,064$1,667$1,339$1,083
20 years$2,919$2,361$1,894$1,510$1,196$954
21 years$2,751$2,199$1,742$1,370$1,070$842
22 years$2,598$2,053$1,606$1,246$959$744
23 years$2,459$1,920$1,483$1,135$861$659
24 years$2,332$1,799$1,371$1,035$774$584
25 years$2,215$1,688$1,270$945$696$518
26 years$2,107$1,587$1,178$864$627$459
27 years$2,007$1,493$1,094$791$566$408
28 years$1,915$1,407$1,017$725$510$363
29 years$1,829$1,327$946$665$461$323
30 years$1,749$1,254$881$610$416$287
31 years$1,674$1,185$822$560$376$256
32 years$1,604$1,121$767$515$341$228
33 years$1,538$1,062$716$473$308$203
34 years$1,477$1,006$669$436$279$181
35 years$1,419$955$625$401$253$161
36 years$1,364$906$585$369$229$144
37 years$1,313$860$548$340$208$128
38 years$1,264$818$513$314$188$114
39 years$1,218$778$480$289$171$102
40 years$1,174$740$450$267$155$91
41 years$1,133$704$422$246$140$81
42 years$1,094$671$396$227$127$73
43 years$1,056$639$372$210$116$65
44 years$1,021$609$349$194$105$58
45 years$987$581$328$179$95$52
46 years$954$554$308$165$87$46
47 years$923$529$289$153$79$41
48 years$894$505$272$141$71$37
49 years$866$482$255$130$65$33
50 years$839$461$240$120$59$29

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $859,000, adding $6,947 every year, while hoping to spend $46,016 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: 44/34/22 Blend
55$859,000$859,000$859,000$859,000
56$953,784$908,257$894,942$989,399
57$1,002,109$903,801$875,962$1,010,794
58$1,053,821$897,584$854,804$1,028,946
59$1,109,217$889,472$831,346$1,047,689
60$1,168,623$879,321$805,462$1,067,101
61$1,232,395$866,981$777,017$1,087,271
62$1,300,926$852,289$745,874$1,108,300
63$1,374,646$835,077$711,886$1,130,303
64$1,454,028$815,164$674,903$1,153,410
65$1,539,591$792,359$634,764$1,177,770
66$1,631,904$766,460$591,303$1,203,548
67$1,731,595$737,253$544,349$1,230,933
68$1,839,351$704,511$493,718$1,260,138
69$1,955,929$667,997$439,221$1,291,399
70$2,082,160$627,455$380,662$1,324,986
71$2,218,958$582,618$317,832$1,361,199
72$2,367,330$533,204$250,517$1,400,376
73$2,528,379$478,913$178,491$1,442,895
74$2,703,322$419,428$101,519$1,489,179
75$2,893,496$354,416$19,355$1,539,701
76$3,100,373$283,522$0$1,594,993
77$3,325,571$206,375$0$1,671,683
78$3,570,872$122,580$0$1,760,283
79$3,838,235$31,720$0$1,857,047
80$4,129,818$0$0$1,962,865
81$4,447,995$0$0$2,103,653
82$4,795,379$0$0$2,270,421
83$5,174,848$0$0$2,452,693
84$5,589,569$0$0$2,652,003
85$6,043,028$0$0$2,870,041
86$6,539,064$0$0$3,108,665
87$7,081,905$0$0$3,369,925
88$7,676,205$0$0$3,656,075
89$8,327,090$0$0$3,969,598
90$9,040,205$0$0$4,313,230
91$9,821,765$0$0$4,689,982
92$10,678,618$0$0$5,103,173
93$11,618,303$0$0$5,556,455
94$12,649,126$0$0$6,053,854
95$13,780,234$0$0$6,599,803
96$15,021,703$0$0$7,199,184
97$16,384,632$0$0$7,857,379
98$17,881,248$0$0$8,580,311
99$19,525,018$0$0$9,374,509
100$21,330,779$0$0$10,247,164