Can I retire at age 56 with 862,000?

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 $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%14.8%
1 years$71,183$70,549$69,930$69,327$68,737$67,377
2 years$35,239$34,583$33,947$33,330$32,732$31,367
3 years$23,259$22,600$21,966$21,355$20,766$19,440
4 years$17,271$16,614$15,986$15,385$14,811$13,533
5 years$13,678$13,025$12,405$11,817$11,259$10,033
6 years$11,284$10,636$10,025$9,450$8,909$7,736
7 years$9,575$8,932$8,331$7,770$7,245$6,126
8 years$8,294$7,657$7,065$6,518$6,011$4,945
9 years$7,297$6,666$6,086$5,552$5,062$4,048
10 years$6,501$5,876$5,305$4,786$4,313$3,351
11 years$5,850$5,231$4,671$4,165$3,709$2,798
12 years$5,307$4,695$4,145$3,653$3,214$2,352
13 years$4,849$4,243$3,704$3,225$2,803$1,988
14 years$4,456$3,857$3,328$2,863$2,457$1,689
15 years$4,116$3,523$3,004$2,553$2,163$1,439
16 years$3,819$3,233$2,724$2,286$1,912$1,231
17 years$3,557$2,977$2,479$2,054$1,695$1,055
18 years$3,324$2,751$2,263$1,851$1,507$907
19 years$3,117$2,550$2,071$1,673$1,344$781
20 years$2,930$2,369$1,901$1,515$1,200$673
21 years$2,761$2,207$1,749$1,375$1,074$582
22 years$2,608$2,060$1,612$1,250$963$503
23 years$2,468$1,927$1,488$1,138$864$435
24 years$2,340$1,805$1,376$1,038$777$377
25 years$2,222$1,694$1,275$948$699$327
26 years$2,114$1,592$1,182$867$630$283
27 years$2,014$1,498$1,098$794$568$246
28 years$1,921$1,412$1,020$727$512$214
29 years$1,835$1,332$950$667$462$186
30 years$1,755$1,258$885$612$418$161
31 years$1,680$1,189$825$562$378$140
32 years$1,609$1,125$769$517$342$122
33 years$1,544$1,066$718$475$309$106
34 years$1,482$1,010$671$437$280$92
35 years$1,424$958$628$402$254$80
36 years$1,369$909$587$371$230$70
37 years$1,317$863$549$341$208$61
38 years$1,269$821$515$315$189$53
39 years$1,222$780$482$290$171$46
40 years$1,178$742$452$268$155$40
41 years$1,137$707$424$247$141$35
42 years$1,097$673$397$228$128$30
43 years$1,060$641$373$210$116$26
44 years$1,024$611$350$194$105$23
45 years$990$583$329$179$96$20
46 years$958$556$309$166$87$17
47 years$927$531$290$153$79$15
48 years$897$507$273$141$72$13
49 years$869$484$256$131$65$12
50 years$842$462$241$121$59$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $862,000, adding $5,147 every year, while hoping to spend $25,621 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: 60/30/10 Blend
55$862,000$862,000$862,000$862,000
56$955,233$909,547$896,186$1,010,035
57$1,025,406$926,854$898,948$1,064,746
58$1,101,879$944,151$900,943$1,121,027
59$1,185,265$961,409$902,120$1,181,786
60$1,276,244$978,600$902,422$1,247,454
61$1,375,559$995,690$901,792$1,318,509
62$1,484,033$1,012,646$900,169$1,395,478
63$1,602,568$1,029,429$897,489$1,478,937
64$1,732,160$1,046,001$893,684$1,569,527
65$1,873,903$1,062,318$888,686$1,667,951
66$2,029,004$1,078,334$882,419$1,774,983
67$2,198,789$1,093,999$874,807$1,891,478
68$2,384,722$1,109,261$865,769$2,018,378
69$2,588,412$1,124,063$855,221$2,156,722
70$2,811,632$1,138,345$843,073$2,307,653
71$3,056,336$1,152,041$829,233$2,472,433
72$3,324,674$1,165,083$813,604$2,652,452
73$3,619,015$1,177,396$796,084$2,849,243
74$3,941,968$1,188,902$776,567$3,064,495
75$4,296,408$1,199,518$754,941$3,300,072
76$4,685,500$1,209,152$731,090$3,558,025
77$5,112,731$1,217,711$704,892$3,840,619
78$5,581,943$1,225,092$676,219$4,150,348
79$6,097,368$1,231,189$644,939$4,489,964
80$6,663,667$1,235,885$610,912$4,862,496
81$7,285,977$1,239,058$573,993$5,271,289
82$7,969,954$1,240,580$534,029$5,720,027
83$8,721,833$1,240,311$490,863$6,212,771
84$9,548,479$1,238,106$444,326$6,753,999
85$10,457,460$1,233,810$394,247$7,348,646
86$11,457,111$1,227,256$340,444$8,002,154
87$12,556,615$1,218,270$282,728$8,720,521
88$13,766,091$1,206,667$220,901$9,510,358
89$15,096,688$1,192,249$154,756$10,378,953
90$16,560,689$1,174,808$84,079$11,334,341
91$18,171,628$1,154,123$8,645$12,385,378
92$19,944,419$1,129,959$0$13,541,826
93$21,895,491$1,102,069$0$14,822,113
94$24,042,951$1,070,190$0$16,231,918
95$26,406,745$1,034,043$0$17,783,419
96$29,008,857$993,335$0$19,491,056
97$31,873,506$947,753$0$21,370,748
98$35,027,379$896,969$0$23,440,036
99$38,499,885$840,634$0$25,718,255
100$42,323,428$778,380$0$28,226,714