Can I retire at age 56 with 818,000?

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 $818,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.9%
1 years$67,550$66,948$66,361$65,788$65,228$64,440
2 years$33,440$32,818$32,214$31,629$31,061$30,268
3 years$22,072$21,447$20,845$20,265$19,706$18,933
4 years$16,389$15,766$15,170$14,600$14,055$13,307
5 years$12,980$12,360$11,772$11,214$10,684$9,964
6 years$10,708$10,093$9,514$8,968$8,454$7,762
7 years$9,086$8,476$7,906$7,373$6,875$6,213
8 years$7,870$7,266$6,705$6,185$5,704$5,070
9 years$6,925$6,326$5,775$5,268$4,803$4,198
10 years$6,169$5,576$5,035$4,541$4,093$3,515
11 years$5,551$4,964$4,432$3,952$3,520$2,970
12 years$5,036$4,456$3,934$3,467$3,050$2,528
13 years$4,601$4,027$3,514$3,061$2,660$2,164
14 years$4,229$3,660$3,158$2,717$2,332$1,861
15 years$3,906$3,343$2,851$2,423$2,053$1,607
16 years$3,624$3,068$2,585$2,169$1,814$1,393
17 years$3,375$2,825$2,352$1,949$1,609$1,211
18 years$3,155$2,611$2,147$1,757$1,430$1,055
19 years$2,957$2,419$1,966$1,587$1,275$921
20 years$2,780$2,248$1,804$1,438$1,139$805
21 years$2,620$2,094$1,659$1,305$1,019$706
22 years$2,474$1,955$1,529$1,186$914$619
23 years$2,342$1,828$1,412$1,080$820$544
24 years$2,220$1,713$1,306$985$737$478
25 years$2,109$1,608$1,210$900$663$421
26 years$2,006$1,511$1,122$823$597$370
27 years$1,911$1,422$1,042$753$539$326
28 years$1,823$1,340$968$690$486$288
29 years$1,741$1,264$901$633$439$254
30 years$1,665$1,194$839$581$397$224
31 years$1,594$1,128$783$533$359$198
32 years$1,527$1,068$730$490$324$175
33 years$1,465$1,011$682$451$293$154
34 years$1,406$958$637$415$266$137
35 years$1,351$909$596$382$241$121
36 years$1,299$863$557$352$218$107
37 years$1,250$819$521$324$198$94
38 years$1,204$779$488$299$179$84
39 years$1,160$741$457$275$162$74
40 years$1,118$705$429$254$147$65
41 years$1,079$671$402$234$134$58
42 years$1,041$639$377$216$121$51
43 years$1,006$609$354$200$110$45
44 years$972$580$332$184$100$40
45 years$940$553$312$170$91$36
46 years$909$528$293$157$82$31
47 years$879$504$275$145$75$28
48 years$851$481$259$134$68$25
49 years$824$459$243$124$62$22
50 years$799$439$229$115$56$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $818,000, adding $5,578 every year, while hoping to spend $41,197 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: 83/8/9 Blend
55$818,000$818,000$818,000$818,000
56$907,190$863,836$851,157$980,907
57$955,890$862,330$835,837$1,028,441
58$1,008,176$859,371$818,624$1,074,543
59$1,064,372$854,841$799,409$1,123,906
60$1,124,831$848,621$778,082$1,176,834
61$1,189,941$840,581$754,525$1,233,660
62$1,260,129$830,583$728,616$1,294,753
63$1,335,864$818,484$700,226$1,360,516
64$1,417,660$804,128$669,222$1,431,396
65$1,506,085$787,354$635,464$1,507,884
66$1,601,759$767,987$598,806$1,590,520
67$1,705,367$745,847$559,094$1,679,901
68$1,817,659$720,739$516,169$1,776,684
69$1,939,464$692,458$469,864$1,881,591
70$2,071,689$660,789$420,005$1,995,420
71$2,215,335$625,501$366,408$2,119,050
72$2,371,501$586,353$308,885$2,253,448
73$2,541,398$543,087$247,236$2,399,682
74$2,726,356$495,434$181,254$2,558,927
75$2,927,841$443,107$110,722$2,732,480
76$3,147,464$385,802$35,415$2,921,767
77$3,386,999$323,200$0$3,128,364
78$3,648,400$254,964$0$3,358,322
79$3,933,815$180,736$0$3,613,147
80$4,245,611$100,138$0$3,891,567
81$4,586,392$12,774$0$4,195,930
82$4,959,026$0$0$4,528,825
83$5,366,671$0$0$4,900,301
84$5,812,803$0$0$5,308,097
85$6,301,251$0$0$5,754,588
86$6,836,230$0$0$6,243,631
87$7,422,383$0$0$6,779,472
88$8,064,822$0$0$7,366,787
89$8,769,179$0$0$8,010,726
90$9,541,655$0$0$8,716,961
91$10,389,082$0$0$9,491,740
92$11,318,982$0$0$10,341,945
93$12,339,645$0$0$11,275,154
94$13,460,197$0$0$12,299,719
95$14,690,696$0$0$13,424,836
96$16,042,220$0$0$14,660,638
97$17,526,970$0$0$16,018,284
98$19,158,391$0$0$17,510,072
99$20,951,292$0$0$19,149,547
100$22,921,990$0$0$20,951,632