Can I retire at age 56 with 862,000?

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 $862,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.8%
1 years$71,183$70,549$69,930$69,327$68,737$66,036
2 years$35,239$34,583$33,947$33,330$32,732$30,044
3 years$23,259$22,600$21,966$21,355$20,766$18,176
4 years$17,271$16,614$15,986$15,385$14,811$12,337
5 years$13,678$13,025$12,405$11,817$11,259$8,909
6 years$11,284$10,636$10,025$9,450$8,909$6,684
7 years$9,575$8,932$8,331$7,770$7,245$5,144
8 years$8,294$7,657$7,065$6,518$6,011$4,032
9 years$7,297$6,666$6,086$5,552$5,062$3,202
10 years$6,501$5,876$5,305$4,786$4,313$2,569
11 years$5,850$5,231$4,671$4,165$3,709$2,077
12 years$5,307$4,695$4,145$3,653$3,214$1,689
13 years$4,849$4,243$3,704$3,225$2,803$1,381
14 years$4,456$3,857$3,328$2,863$2,457$1,133
15 years$4,116$3,523$3,004$2,553$2,163$932
16 years$3,819$3,233$2,724$2,286$1,912$769
17 years$3,557$2,977$2,479$2,054$1,695$636
18 years$3,324$2,751$2,263$1,851$1,507$526
19 years$3,117$2,550$2,071$1,673$1,344$437
20 years$2,930$2,369$1,901$1,515$1,200$362
21 years$2,761$2,207$1,749$1,375$1,074$301
22 years$2,608$2,060$1,612$1,250$963$250
23 years$2,468$1,927$1,488$1,138$864$208
24 years$2,340$1,805$1,376$1,038$777$173
25 years$2,222$1,694$1,275$948$699$144
26 years$2,114$1,592$1,182$867$630$120
27 years$2,014$1,498$1,098$794$568$100
28 years$1,921$1,412$1,020$727$512$84
29 years$1,835$1,332$950$667$462$70
30 years$1,755$1,258$885$612$418$58
31 years$1,680$1,189$825$562$378$49
32 years$1,609$1,125$769$517$342$40
33 years$1,544$1,066$718$475$309$34
34 years$1,482$1,010$671$437$280$28
35 years$1,424$958$628$402$254$24
36 years$1,369$909$587$371$230$20
37 years$1,317$863$549$341$208$16
38 years$1,269$821$515$315$189$14
39 years$1,222$780$482$290$171$11
40 years$1,178$742$452$268$155$10
41 years$1,137$707$424$247$141$8
42 years$1,097$673$397$228$128$7
43 years$1,060$641$373$210$116$6
44 years$1,024$611$350$194$105$5
45 years$990$583$329$179$96$4
46 years$958$556$309$166$87$3
47 years$927$531$290$153$79$3
48 years$897$507$273$141$72$2
49 years$869$484$256$131$65$2
50 years$842$462$241$121$59$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $862,000, adding $5,114 every year, while hoping to spend $40,099 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: 51/43/6 Blend
55$862,000$862,000$862,000$862,000
56$955,199$909,513$896,152$1,002,269
57$1,009,964$911,414$883,508$1,036,722
58$1,068,972$912,065$869,097$1,069,386
59$1,132,612$911,360$852,816$1,103,930
60$1,201,313$909,192$834,560$1,140,539
61$1,275,547$905,442$814,218$1,179,417
62$1,355,831$899,987$791,673$1,220,794
63$1,442,734$892,695$766,803$1,264,923
64$1,536,883$883,428$739,481$1,312,083
65$1,638,966$872,036$709,573$1,362,588
66$1,749,738$858,364$676,942$1,416,783
67$1,870,033$842,245$641,441$1,475,052
68$2,000,765$823,503$602,918$1,537,821
69$2,142,941$801,953$561,214$1,605,562
70$2,297,669$777,397$516,163$1,678,799
71$2,466,169$749,627$467,591$1,758,112
72$2,649,780$718,421$415,318$1,844,144
73$2,849,980$683,546$359,154$1,937,607
74$3,068,393$644,754$298,900$2,039,291
75$3,306,807$601,785$234,351$2,150,071
76$3,567,190$554,362$165,291$2,270,914
77$3,851,710$502,192$91,495$2,402,894
78$4,162,752$444,967$12,727$2,547,196
79$4,502,943$382,360$0$2,705,136
80$4,875,174$314,027$0$2,882,733
81$5,282,630$239,602$0$3,078,196
82$5,728,817$158,702$0$3,292,508
83$6,217,597$70,919$0$3,527,654
84$6,753,223$0$0$3,785,832
85$7,340,377$0$0$4,080,908
86$7,984,219$0$0$4,441,357
87$8,690,429$0$0$4,836,814
88$9,465,264$0$0$5,270,795
89$10,315,618$0$0$5,747,171
90$11,249,082$0$0$6,270,208
91$12,274,020$0$0$6,844,606
92$13,399,643$0$0$7,475,539
93$14,636,101$0$0$8,168,710
94$15,994,572$0$0$8,930,400
95$17,487,374$0$0$9,767,530
96$19,128,074$0$0$10,687,724
97$20,931,621$0$0$11,699,380
98$22,914,483$0$0$12,811,753
99$25,094,804$0$0$14,035,038
100$27,492,573$0$0$15,380,466