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%14.5%
1 years$71,513$70,876$70,255$69,648$69,056$67,773
2 years$35,403$34,743$34,104$33,485$32,884$31,596
3 years$23,367$22,705$22,068$21,454$20,863$19,610
4 years$17,351$16,691$16,060$15,456$14,880$13,672
5 years$13,742$13,086$12,463$11,872$11,311$10,152
6 years$11,337$10,685$10,072$9,494$8,950$7,840
7 years$9,619$8,974$8,370$7,806$7,279$6,219
8 years$8,332$7,692$7,098$6,548$6,039$5,029
9 years$7,331$6,697$6,114$5,577$5,085$4,125
10 years$6,531$5,903$5,330$4,808$4,333$3,420
11 years$5,877$5,255$4,693$4,184$3,726$2,861
12 years$5,332$4,717$4,165$3,670$3,229$2,410
13 years$4,871$4,263$3,721$3,240$2,816$2,041
14 years$4,477$3,875$3,343$2,876$2,468$1,737
15 years$4,135$3,540$3,018$2,565$2,173$1,484
16 years$3,837$3,248$2,737$2,297$1,921$1,272
17 years$3,574$2,991$2,490$2,064$1,703$1,093
18 years$3,340$2,764$2,273$1,860$1,514$941
19 years$3,131$2,561$2,081$1,680$1,350$812
20 years$2,943$2,380$1,910$1,522$1,206$702
21 years$2,774$2,217$1,757$1,381$1,079$608
22 years$2,620$2,070$1,619$1,256$967$526
23 years$2,479$1,936$1,495$1,144$868$457
24 years$2,351$1,814$1,383$1,043$780$397
25 years$2,233$1,702$1,281$953$702$345
26 years$2,124$1,599$1,188$871$632$300
27 years$2,023$1,505$1,103$797$570$261
28 years$1,930$1,418$1,025$731$515$227
29 years$1,843$1,338$954$670$465$198
30 years$1,763$1,264$889$615$420$172
31 years$1,687$1,195$828$565$380$150
32 years$1,617$1,130$773$519$343$131
33 years$1,551$1,070$722$477$311$114
34 years$1,489$1,015$674$439$281$99
35 years$1,430$962$630$404$255$87
36 years$1,375$913$590$372$231$76
37 years$1,323$867$552$343$209$66
38 years$1,274$824$517$316$190$58
39 years$1,228$784$484$291$172$50
40 years$1,184$746$454$269$156$44
41 years$1,142$710$426$248$142$38
42 years$1,103$676$399$229$128$33
43 years$1,065$644$375$211$117$29
44 years$1,029$614$352$195$106$25
45 years$995$586$330$180$96$22
46 years$962$559$310$166$87$19
47 years$931$533$291$154$79$17
48 years$901$509$274$142$72$15
49 years$873$486$257$131$65$13
50 years$846$464$242$121$59$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $866,000, adding $6,906 every year, while hoping to spend $32,547 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: 70/5/25 Blend
55$866,000$866,000$866,000$866,000
56$961,456$915,558$902,135$1,022,191
57$1,024,894$925,790$897,726$1,073,959
58$1,093,713$935,433$892,080$1,126,182
59$1,168,426$944,424$885,118$1,182,581
60$1,249,599$952,694$876,763$1,243,568
61$1,337,854$960,172$866,931$1,309,599
62$1,433,877$966,782$855,535$1,381,174
63$1,538,420$972,442$842,483$1,458,848
64$1,652,312$977,066$827,680$1,543,231
65$1,776,467$980,560$811,026$1,634,995
66$1,911,887$982,828$792,415$1,734,883
67$2,059,677$983,765$771,740$1,843,715
68$2,221,055$983,260$748,884$1,962,392
69$2,397,359$981,196$723,728$2,091,911
70$2,590,064$977,449$696,146$2,233,371
71$2,800,791$971,885$666,008$2,387,981
72$3,031,329$964,365$633,177$2,557,080
73$3,283,645$954,739$597,509$2,742,138
74$3,559,906$942,850$558,854$2,944,782
75$3,862,497$928,530$517,056$3,166,802
76$4,194,045$911,602$471,952$3,410,174
77$4,557,446$891,878$423,370$3,677,075
78$4,955,885$869,159$371,132$3,969,909
79$5,392,872$843,235$315,052$4,291,324
80$5,872,274$813,883$254,935$4,644,240
81$6,398,348$780,866$190,578$5,031,877
82$6,975,786$743,935$121,769$5,457,786
83$7,609,755$702,825$48,286$5,925,881
84$8,305,944$657,258$0$6,440,480
85$9,070,625$606,939$0$7,014,377
86$9,910,704$551,554$0$7,659,051
87$10,833,789$490,773$0$8,367,459
88$11,848,263$424,249$0$9,146,048
89$12,963,361$351,612$0$10,001,922
90$14,189,255$272,472$0$10,942,908
91$15,537,156$186,420$0$11,977,630
92$17,019,410$93,019$0$13,115,590
93$18,649,625$0$0$14,367,261
94$20,442,791$0$0$15,744,629
95$22,415,422$0$0$17,265,532
96$24,585,717$0$0$18,938,887
97$26,973,726$0$0$20,780,161
98$29,601,540$0$0$22,806,395
99$32,493,501$0$0$25,036,364
100$35,676,429$0$0$27,490,757