Can I retire at age 56 with 866,000?

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 $866,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.4%
1 years$71,513$70,876$70,255$69,648$69,056$66,712
2 years$35,403$34,743$34,104$33,485$32,884$30,546
3 years$23,367$22,705$22,068$21,454$20,863$18,604
4 years$17,351$16,691$16,060$15,456$14,880$12,718
5 years$13,742$13,086$12,463$11,872$11,311$9,252
6 years$11,337$10,685$10,072$9,494$8,950$6,995
7 years$9,619$8,974$8,370$7,806$7,279$5,427
8 years$8,332$7,692$7,098$6,548$6,039$4,289
9 years$7,331$6,697$6,114$5,577$5,085$3,436
10 years$6,531$5,903$5,330$4,808$4,333$2,781
11 years$5,877$5,255$4,693$4,184$3,726$2,269
12 years$5,332$4,717$4,165$3,670$3,229$1,863
13 years$4,871$4,263$3,721$3,240$2,816$1,537
14 years$4,477$3,875$3,343$2,876$2,468$1,273
15 years$4,135$3,540$3,018$2,565$2,173$1,058
16 years$3,837$3,248$2,737$2,297$1,921$882
17 years$3,574$2,991$2,490$2,064$1,703$737
18 years$3,340$2,764$2,273$1,860$1,514$617
19 years$3,131$2,561$2,081$1,680$1,350$517
20 years$2,943$2,380$1,910$1,522$1,206$434
21 years$2,774$2,217$1,757$1,381$1,079$364
22 years$2,620$2,070$1,619$1,256$967$306
23 years$2,479$1,936$1,495$1,144$868$258
24 years$2,351$1,814$1,383$1,043$780$217
25 years$2,233$1,702$1,281$953$702$183
26 years$2,124$1,599$1,188$871$632$154
27 years$2,023$1,505$1,103$797$570$130
28 years$1,930$1,418$1,025$731$515$109
29 years$1,843$1,338$954$670$465$92
30 years$1,763$1,264$889$615$420$78
31 years$1,687$1,195$828$565$380$66
32 years$1,617$1,130$773$519$343$55
33 years$1,551$1,070$722$477$311$47
34 years$1,489$1,015$674$439$281$39
35 years$1,430$962$630$404$255$33
36 years$1,375$913$590$372$231$28
37 years$1,323$867$552$343$209$24
38 years$1,274$824$517$316$190$20
39 years$1,228$784$484$291$172$17
40 years$1,184$746$454$269$156$14
41 years$1,142$710$426$248$142$12
42 years$1,103$676$399$229$128$10
43 years$1,065$644$375$211$117$9
44 years$1,029$614$352$195$106$7
45 years$995$586$330$180$96$6
46 years$962$559$310$166$87$5
47 years$931$533$291$154$79$4
48 years$901$509$274$142$72$4
49 years$873$486$257$131$65$3
50 years$846$464$242$121$59$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $866,000, adding $3,556 every year, while hoping to spend $49,943 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: 66/15/19 Blend
55$866,000$866,000$866,000$866,000
56$958,000$912,102$898,679$1,016,464
57$1,002,577$903,656$875,646$1,047,637
58$1,050,027$893,122$850,167$1,075,623
59$1,100,590$880,346$822,108$1,105,019
60$1,154,530$865,162$791,328$1,135,961
61$1,212,135$847,398$757,680$1,168,605
62$1,273,720$826,868$721,010$1,203,119
63$1,339,632$803,377$681,157$1,239,695
64$1,410,251$776,719$637,952$1,278,542
65$1,485,994$746,675$591,221$1,319,896
66$1,567,317$713,014$540,778$1,364,016
67$1,654,722$675,491$486,433$1,411,191
68$1,748,760$633,846$427,985$1,461,742
69$1,850,035$587,806$365,224$1,516,024
70$1,959,212$537,082$297,932$1,574,432
71$2,077,020$481,367$225,881$1,637,404
72$2,204,260$420,339$148,833$1,705,425
73$2,341,814$353,654$66,537$1,779,034
74$2,490,648$280,952$0$1,858,826
75$2,651,828$201,852$0$1,949,778
76$2,826,522$115,951$0$2,062,983
77$3,016,018$22,824$0$2,185,806
78$3,221,730$0$0$2,319,204
79$3,445,214$0$0$2,477,106
80$3,688,182$0$0$2,652,918
81$3,952,517$0$0$2,844,243
82$4,240,290$0$0$3,052,585
83$4,553,782$0$0$3,279,603
84$4,895,500$0$0$3,527,119
85$5,268,207$0$0$3,797,141
86$5,674,940$0$0$4,091,879
87$6,119,046$0$0$4,413,764
88$6,604,207$0$0$4,765,474
89$7,134,476$0$0$5,149,955
90$7,714,316$0$0$5,570,454
91$8,348,642$0$0$6,030,542
92$9,042,865$0$0$6,534,153
93$9,802,942$0$0$7,085,621
94$10,635,435$0$0$7,689,716
95$11,547,568$0$0$8,351,691
96$12,547,300$0$0$9,077,333
97$13,643,394$0$0$9,873,013
98$14,845,501$0$0$10,745,752
99$16,164,254$0$0$11,703,280
100$17,611,362$0$0$12,754,111