Can I retire at age 56 with 864,000?

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 $864,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.8%
1 years$71,348$70,713$70,093$69,488$68,897$66,452
2 years$35,321$34,663$34,026$33,407$32,808$30,371
3 years$23,313$22,653$22,017$21,404$20,815$18,462
4 years$17,311$16,652$16,023$15,421$14,845$12,595
5 years$13,710$13,055$12,434$11,845$11,285$9,143
6 years$11,311$10,661$10,049$9,472$8,930$6,897
7 years$9,597$8,953$8,350$7,788$7,262$5,339
8 years$8,313$7,674$7,082$6,533$6,025$4,210
9 years$7,314$6,682$6,100$5,565$5,074$3,364
10 years$6,516$5,890$5,318$4,797$4,323$2,716
11 years$5,863$5,243$4,682$4,175$3,718$2,210
12 years$5,320$4,706$4,155$3,662$3,222$1,810
13 years$4,860$4,253$3,712$3,233$2,810$1,489
14 years$4,467$3,866$3,335$2,870$2,463$1,230
15 years$4,126$3,531$3,011$2,559$2,168$1,020
16 years$3,828$3,240$2,730$2,291$1,916$847
17 years$3,565$2,984$2,484$2,059$1,699$706
18 years$3,332$2,757$2,268$1,855$1,511$589
19 years$3,124$2,555$2,076$1,677$1,347$492
20 years$2,936$2,375$1,905$1,518$1,203$412
21 years$2,767$2,212$1,753$1,378$1,076$345
22 years$2,614$2,065$1,615$1,253$965$289
23 years$2,474$1,931$1,491$1,141$866$242
24 years$2,345$1,809$1,379$1,041$779$203
25 years$2,228$1,698$1,278$951$701$171
26 years$2,119$1,596$1,185$869$631$143
27 years$2,019$1,502$1,100$795$569$120
28 years$1,926$1,415$1,023$729$513$101
29 years$1,839$1,335$952$668$464$85
30 years$1,759$1,261$887$613$419$72
31 years$1,684$1,192$827$563$379$60
32 years$1,613$1,128$771$518$343$51
33 years$1,547$1,068$720$476$310$43
34 years$1,485$1,012$673$438$281$36
35 years$1,427$960$629$403$254$30
36 years$1,372$911$588$371$230$25
37 years$1,320$865$551$342$209$21
38 years$1,271$823$516$315$189$18
39 years$1,225$782$483$291$172$15
40 years$1,181$744$453$268$156$13
41 years$1,140$708$425$247$141$11
42 years$1,100$675$398$228$128$9
43 years$1,062$643$374$211$116$8
44 years$1,027$613$351$195$106$6
45 years$992$584$329$180$96$5
46 years$960$557$309$166$87$5
47 years$929$532$291$153$79$4
48 years$899$508$273$142$72$3
49 years$871$485$257$131$65$3
50 years$844$463$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 $864,000, adding $2,053 every year, while hoping to spend $49,754 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: 48/33/19 Blend
55$864,000$864,000$864,000$864,000
56$954,246$908,454$895,062$994,845
57$998,641$900,030$872,108$1,014,841
58$1,045,897$889,526$846,719$1,031,335
59$1,096,253$876,787$818,758$1,048,194
60$1,149,971$861,650$788,087$1,065,473
61$1,207,338$843,941$754,558$1,083,234
62$1,268,669$823,477$718,018$1,101,551
63$1,334,308$800,062$678,307$1,120,508
64$1,404,634$773,492$635,256$1,140,199
65$1,480,061$743,547$588,692$1,160,736
66$1,561,045$709,999$538,431$1,182,243
67$1,648,085$672,602$484,281$1,204,862
68$1,741,728$631,098$426,044$1,228,756
69$1,842,578$585,216$363,510$1,254,106
70$1,951,296$534,665$296,462$1,281,121
71$2,068,606$479,143$224,672$1,310,035
72$2,195,309$418,325$147,903$1,341,112
73$2,332,279$351,872$65,906$1,374,648
74$2,480,482$279,424$0$1,410,979
75$2,640,976$200,601$0$1,454,860
76$2,814,926$115,001$0$1,516,877
77$3,003,613$22,200$0$1,584,185
78$3,208,445$0$0$1,657,373
79$3,430,972$0$0$1,765,513
80$3,672,898$0$0$1,891,928
81$3,936,097$0$0$2,029,547
82$4,222,632$0$0$2,179,459
83$4,534,773$0$0$2,342,863
84$4,875,017$0$0$2,521,080
85$5,246,114$0$0$2,715,560
86$5,651,088$0$0$2,927,904
87$6,093,271$0$0$3,159,870
88$6,576,328$0$0$3,413,396
89$7,104,296$0$0$3,690,616
90$7,681,618$0$0$3,993,877
91$8,313,186$0$0$4,325,765
92$9,004,388$0$0$4,689,128
93$9,761,154$0$0$5,087,102
94$10,590,018$0$0$5,523,139
95$11,498,173$0$0$6,001,042
96$12,493,540$0$0$6,524,999
97$13,584,846$0$0$7,099,623
98$14,781,698$0$0$7,729,994
99$16,094,683$0$0$8,421,709
100$17,535,458$0$0$9,180,932