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%11.9%
1 years$71,183$70,549$69,930$69,327$68,737$68,190
2 years$35,239$34,583$33,947$33,330$32,732$32,180
3 years$23,259$22,600$21,966$21,355$20,766$20,227
4 years$17,271$16,614$15,986$15,385$14,811$14,289
5 years$13,678$13,025$12,405$11,817$11,259$10,755
6 years$11,284$10,636$10,025$9,450$8,909$8,424
7 years$9,575$8,932$8,331$7,770$7,245$6,780
8 years$8,294$7,657$7,065$6,518$6,011$5,564
9 years$7,297$6,666$6,086$5,552$5,062$4,635
10 years$6,501$5,876$5,305$4,786$4,313$3,905
11 years$5,850$5,231$4,671$4,165$3,709$3,319
12 years$5,307$4,695$4,145$3,653$3,214$2,843
13 years$4,849$4,243$3,704$3,225$2,803$2,449
14 years$4,456$3,857$3,328$2,863$2,457$2,121
15 years$4,116$3,523$3,004$2,553$2,163$1,844
16 years$3,819$3,233$2,724$2,286$1,912$1,609
17 years$3,557$2,977$2,479$2,054$1,695$1,408
18 years$3,324$2,751$2,263$1,851$1,507$1,236
19 years$3,117$2,550$2,071$1,673$1,344$1,087
20 years$2,930$2,369$1,901$1,515$1,200$957
21 years$2,761$2,207$1,749$1,375$1,074$845
22 years$2,608$2,060$1,612$1,250$963$747
23 years$2,468$1,927$1,488$1,138$864$661
24 years$2,340$1,805$1,376$1,038$777$586
25 years$2,222$1,694$1,275$948$699$519
26 years$2,114$1,592$1,182$867$630$461
27 years$2,014$1,498$1,098$794$568$409
28 years$1,921$1,412$1,020$727$512$364
29 years$1,835$1,332$950$667$462$324
30 years$1,755$1,258$885$612$418$288
31 years$1,680$1,189$825$562$378$256
32 years$1,609$1,125$769$517$342$228
33 years$1,544$1,066$718$475$309$204
34 years$1,482$1,010$671$437$280$181
35 years$1,424$958$628$402$254$162
36 years$1,369$909$587$371$230$144
37 years$1,317$863$549$341$208$129
38 years$1,269$821$515$315$189$115
39 years$1,222$780$482$290$171$102
40 years$1,178$742$452$268$155$91
41 years$1,137$707$424$247$141$82
42 years$1,097$673$397$228$128$73
43 years$1,060$641$373$210$116$65
44 years$1,024$611$350$194$105$58
45 years$990$583$329$179$96$52
46 years$958$556$309$166$87$46
47 years$927$531$290$153$79$41
48 years$897$507$273$141$72$37
49 years$869$484$256$131$65$33
50 years$842$462$241$121$59$29

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $862,000, adding $2,790 every year, while hoping to spend $51,509 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: 61/17/22 Blend
55$862,000$862,000$862,000$862,000
56$952,802$907,116$893,755$1,005,247
57$995,183$896,759$868,890$1,030,731
58$1,040,160$884,169$841,467$1,052,619
59$1,087,944$869,181$811,344$1,075,357
60$1,138,765$851,622$778,375$1,099,036
61$1,192,875$831,307$742,406$1,123,757
62$1,250,550$808,043$703,279$1,149,634
63$1,312,092$781,623$660,824$1,176,797
64$1,377,832$751,829$614,868$1,205,388
65$1,448,132$718,430$565,228$1,235,570
66$1,523,390$681,182$511,712$1,267,522
67$1,604,043$639,827$454,121$1,301,447
68$1,690,568$594,091$392,247$1,337,570
69$1,783,490$543,686$325,872$1,376,143
70$1,883,386$488,306$254,768$1,417,447
71$1,990,887$427,629$178,699$1,461,796
72$2,106,689$361,314$97,416$1,509,541
73$2,231,553$289,001$10,661$1,561,070
74$2,366,318$210,308$0$1,616,819
75$2,511,904$124,835$0$1,696,500
76$2,669,323$32,156$0$1,785,341
77$2,839,686$0$0$1,881,506
78$3,024,216$0$0$1,998,483
79$3,224,258$0$0$2,131,870
80$3,441,288$0$0$2,276,642
81$3,676,932$0$0$2,433,892
82$3,932,977$0$0$2,604,820
83$4,211,391$0$0$2,790,746
84$4,514,336$0$0$2,993,124
85$4,844,193$0$0$3,213,554
86$5,203,582$0$0$3,453,793
87$5,595,384$0$0$3,715,780
88$6,022,773$0$0$4,001,645
89$6,489,241$0$0$4,313,733
90$6,998,630$0$0$4,654,629
91$7,555,174$0$0$5,027,174
92$8,163,529$0$0$5,434,498
93$8,828,825$0$0$5,880,048
94$9,556,709$0$0$6,367,617
95$10,353,398$0$0$6,901,385
96$11,225,739$0$0$7,485,951
97$12,181,272$0$0$8,126,383
98$13,228,301$0$0$8,828,260
99$14,375,970$0$0$9,597,728
100$15,634,350$0$0$10,441,554