Can I retire at age 56 with 866,000?

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 $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%13.2%
1 years$71,513$70,876$70,255$69,648$69,056$68,137
2 years$35,403$34,743$34,104$33,485$32,884$31,959
3 years$23,367$22,705$22,068$21,454$20,863$19,961
4 years$17,351$16,691$16,060$15,456$14,880$14,008
5 years$13,742$13,086$12,463$11,872$11,311$10,473
6 years$11,337$10,685$10,072$9,494$8,950$8,146
7 years$9,619$8,974$8,370$7,806$7,279$6,508
8 years$8,332$7,692$7,098$6,548$6,039$5,302
9 years$7,331$6,697$6,114$5,577$5,085$4,383
10 years$6,531$5,903$5,330$4,808$4,333$3,663
11 years$5,877$5,255$4,693$4,184$3,726$3,089
12 years$5,332$4,717$4,165$3,670$3,229$2,624
13 years$4,871$4,263$3,721$3,240$2,816$2,242
14 years$4,477$3,875$3,343$2,876$2,468$1,924
15 years$4,135$3,540$3,018$2,565$2,173$1,659
16 years$3,837$3,248$2,737$2,297$1,921$1,434
17 years$3,574$2,991$2,490$2,064$1,703$1,244
18 years$3,340$2,764$2,273$1,860$1,514$1,082
19 years$3,131$2,561$2,081$1,680$1,350$942
20 years$2,943$2,380$1,910$1,522$1,206$822
21 years$2,774$2,217$1,757$1,381$1,079$719
22 years$2,620$2,070$1,619$1,256$967$629
23 years$2,479$1,936$1,495$1,144$868$551
24 years$2,351$1,814$1,383$1,043$780$483
25 years$2,233$1,702$1,281$953$702$424
26 years$2,124$1,599$1,188$871$632$373
27 years$2,023$1,505$1,103$797$570$328
28 years$1,930$1,418$1,025$731$515$288
29 years$1,843$1,338$954$670$465$254
30 years$1,763$1,264$889$615$420$223
31 years$1,687$1,195$828$565$380$197
32 years$1,617$1,130$773$519$343$173
33 years$1,551$1,070$722$477$311$153
34 years$1,489$1,015$674$439$281$135
35 years$1,430$962$630$404$255$119
36 years$1,375$913$590$372$231$105
37 years$1,323$867$552$343$209$92
38 years$1,274$824$517$316$190$82
39 years$1,228$784$484$291$172$72
40 years$1,184$746$454$269$156$64
41 years$1,142$710$426$248$142$56
42 years$1,103$676$399$229$128$50
43 years$1,065$644$375$211$117$44
44 years$1,029$614$352$195$106$39
45 years$995$586$330$180$96$34
46 years$962$559$310$166$87$30
47 years$931$533$291$154$79$27
48 years$901$509$274$142$72$23
49 years$873$486$257$131$65$21
50 years$846$464$242$121$59$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $866,000, adding $2,942 every year, while hoping to spend $21,000 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: 71/22/7 Blend
55$866,000$866,000$866,000$866,000
56$957,367$911,469$898,046$1,024,121
57$1,032,674$933,787$905,786$1,090,925
58$1,114,959$956,495$913,083$1,161,135
59$1,204,912$979,589$919,897$1,237,400
60$1,303,290$1,003,067$926,191$1,320,311
61$1,410,931$1,026,922$931,924$1,410,517
62$1,528,754$1,051,149$937,051$1,508,735
63$1,657,773$1,075,742$941,529$1,615,752
64$1,799,104$1,100,692$945,308$1,732,436
65$1,953,977$1,125,990$948,340$1,859,744
66$2,123,745$1,151,625$950,572$1,998,728
67$2,309,898$1,177,586$951,948$2,150,549
68$2,514,079$1,203,860$952,410$2,316,483
69$2,738,097$1,230,431$951,897$2,497,939
70$2,983,944$1,257,283$950,346$2,696,467
71$3,253,814$1,284,397$947,690$2,913,773
72$3,550,123$1,311,753$943,859$3,151,741
73$3,875,536$1,339,329$938,778$3,412,443
74$4,232,985$1,367,100$932,371$3,698,162
75$4,625,701$1,395,040$924,557$4,011,415
76$5,057,244$1,423,118$915,251$4,354,975
77$5,531,535$1,451,304$904,365$4,731,896
78$6,052,896$1,479,561$891,805$5,145,544
79$6,626,085$1,507,854$877,475$5,599,627
80$7,256,347$1,536,140$861,271$6,098,231
81$7,949,460$1,564,376$843,089$6,645,860
82$8,711,789$1,592,515$822,816$7,247,475
83$9,550,346$1,620,503$800,336$7,908,543
84$10,472,861$1,648,287$775,526$8,635,089
85$11,487,845$1,675,806$748,259$9,433,750
86$12,604,681$1,702,996$718,401$10,311,843
87$13,833,704$1,729,788$685,813$11,277,429
88$15,186,303$1,756,108$650,349$12,339,390
89$16,675,026$1,781,878$611,856$13,507,517
90$18,313,699$1,807,011$570,174$14,792,595
91$20,117,559$1,831,417$525,137$16,206,513
92$22,103,393$1,854,999$476,572$17,762,370
93$24,289,697$1,877,652$424,295$19,474,602
94$26,696,855$1,899,265$368,118$21,359,119
95$29,347,325$1,919,721$307,841$23,433,449
96$32,265,856$1,938,891$243,258$25,716,914
97$35,479,719$1,956,642$174,152$28,230,803
98$39,018,961$1,972,828$100,297$30,998,578
99$42,916,697$1,987,298$21,458$34,046,095
100$47,209,412$1,999,888$0$37,401,846