Can I retire at age 56 with 863,000?

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 $863,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.1%
1 years$71,266$70,631$70,012$69,407$68,817$66,561
2 years$35,280$34,623$33,986$33,369$32,770$30,518
3 years$23,286$22,627$21,991$21,380$20,791$18,614
4 years$17,291$16,633$16,004$15,403$14,828$12,744
5 years$13,694$13,040$12,420$11,831$11,272$9,285
6 years$11,297$10,648$10,037$9,461$8,919$7,032
7 years$9,586$8,943$8,341$7,779$7,254$5,465
8 years$8,303$7,665$7,074$6,525$6,018$4,327
9 years$7,306$6,674$6,093$5,558$5,068$3,472
10 years$6,508$5,883$5,312$4,791$4,318$2,816
11 years$5,856$5,237$4,676$4,170$3,714$2,302
12 years$5,314$4,701$4,150$3,657$3,218$1,894
13 years$4,855$4,248$3,708$3,229$2,806$1,566
14 years$4,461$3,861$3,331$2,866$2,460$1,300
15 years$4,121$3,527$3,008$2,556$2,166$1,083
16 years$3,823$3,236$2,727$2,289$1,914$904
17 years$3,561$2,981$2,482$2,056$1,697$757
18 years$3,328$2,754$2,265$1,853$1,509$635
19 years$3,120$2,553$2,074$1,675$1,345$533
20 years$2,933$2,372$1,903$1,517$1,202$449
21 years$2,764$2,209$1,751$1,376$1,075$378
22 years$2,611$2,062$1,613$1,252$964$318
23 years$2,471$1,929$1,490$1,140$865$268
24 years$2,343$1,807$1,378$1,040$778$226
25 years$2,225$1,696$1,276$949$700$191
26 years$2,117$1,594$1,184$868$630$162
27 years$2,016$1,500$1,099$795$568$136
28 years$1,923$1,414$1,022$728$513$115
29 years$1,837$1,334$951$668$463$98
30 years$1,757$1,259$886$613$418$82
31 years$1,682$1,191$826$563$378$70
32 years$1,611$1,126$770$517$342$59
33 years$1,546$1,067$719$476$310$50
34 years$1,484$1,011$672$438$280$42
35 years$1,425$959$628$403$254$36
36 years$1,371$910$588$371$230$30
37 years$1,319$864$550$342$209$26
38 years$1,270$822$515$315$189$22
39 years$1,224$781$483$290$171$18
40 years$1,180$743$452$268$155$16
41 years$1,138$708$424$247$141$13
42 years$1,099$674$398$228$128$11
43 years$1,061$642$373$211$116$9
44 years$1,025$612$350$194$105$8
45 years$991$584$329$180$96$7
46 years$959$557$309$166$87$6
47 years$928$531$290$153$79$5
48 years$898$507$273$142$72$4
49 years$870$484$256$131$65$3
50 years$843$463$241$121$59$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $863,000, adding $5,826 every year, while hoping to spend $43,782 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: 42/33/25 Blend
55$863,000$863,000$863,000$863,000
56$957,036$911,297$897,920$990,013
57$1,008,069$909,366$881,417$1,012,245
58$1,062,841$905,874$862,893$1,031,700
59$1,121,687$900,697$842,235$1,051,908
60$1,184,973$893,706$819,324$1,072,965
61$1,253,103$884,761$794,035$1,094,976
62$1,326,522$873,716$766,237$1,118,064
63$1,405,716$860,417$735,795$1,142,364
64$1,491,221$844,699$702,566$1,168,032
65$1,583,623$826,387$666,400$1,195,239
66$1,683,570$805,298$627,142$1,224,181
67$1,791,772$781,235$584,629$1,255,078
68$1,909,010$753,992$538,690$1,288,175
69$2,036,141$723,351$489,149$1,323,748
70$2,174,112$689,079$435,820$1,362,107
71$2,323,959$650,931$378,507$1,403,596
72$2,486,825$608,649$317,010$1,448,604
73$2,663,967$561,959$251,115$1,497,562
74$2,856,767$510,570$180,603$1,550,952
75$3,066,747$454,178$105,243$1,609,314
76$3,295,580$392,458$24,794$1,673,248
77$3,545,109$325,068$0$1,743,424
78$3,817,362$251,648$0$1,836,876
79$4,114,570$171,815$0$1,946,262
80$4,439,189$85,168$0$2,065,960
81$4,793,926$0$0$2,197,074
82$5,181,757$0$0$2,343,991
83$5,605,960$0$0$2,538,617
84$6,070,145$0$0$2,751,695
85$6,578,287$0$0$2,985,063
86$7,134,763$0$0$3,240,744
87$7,744,392$0$0$3,520,967
88$8,412,483$0$0$3,828,187
89$9,144,881$0$0$4,165,109
90$9,948,025$0$0$4,534,710
91$10,829,006$0$0$4,940,270
92$11,795,635$0$0$5,385,402
93$12,856,516$0$0$5,874,086
94$14,021,124$0$0$6,410,706
95$15,299,900$0$0$7,000,091
96$16,704,343$0$0$7,647,562
97$18,247,120$0$0$8,358,979
98$19,942,187$0$0$9,140,798
99$21,804,917$0$0$10,000,133
100$23,852,248$0$0$10,944,820