Can I retire at age 56 with 820,000?

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 $820,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.1%
1 years$67,715$67,112$66,523$65,949$65,388$63,755
2 years$33,522$32,898$32,293$31,706$31,137$29,503
3 years$22,126$21,499$20,896$20,314$19,755$18,170
4 years$16,429$15,804$15,207$14,635$14,089$12,565
5 years$13,012$12,391$11,801$11,241$10,710$9,252
6 years$10,735$10,118$9,537$8,990$8,475$7,084
7 years$9,108$8,497$7,925$7,391$6,892$5,569
8 years$7,889$7,283$6,721$6,200$5,718$4,461
9 years$6,942$6,342$5,789$5,281$4,815$3,624
10 years$6,184$5,590$5,047$4,552$4,103$2,976
11 years$5,565$4,976$4,443$3,962$3,529$2,464
12 years$5,049$4,466$3,943$3,475$3,058$2,054
13 years$4,613$4,036$3,523$3,068$2,666$1,721
14 years$4,239$3,669$3,165$2,723$2,337$1,449
15 years$3,916$3,352$2,858$2,429$2,058$1,224
16 years$3,633$3,075$2,591$2,175$1,819$1,037
17 years$3,384$2,832$2,358$1,954$1,613$881
18 years$3,162$2,617$2,152$1,761$1,434$750
19 years$2,965$2,425$1,970$1,591$1,278$639
20 years$2,787$2,254$1,808$1,441$1,142$546
21 years$2,626$2,099$1,663$1,308$1,022$467
22 years$2,480$1,960$1,533$1,189$916$400
23 years$2,348$1,833$1,416$1,083$822$342
24 years$2,226$1,717$1,309$988$739$294
25 years$2,114$1,611$1,212$902$665$252
26 years$2,011$1,515$1,125$825$599$216
27 years$1,916$1,425$1,044$755$540$186
28 years$1,828$1,343$971$692$487$159
29 years$1,746$1,267$903$634$440$137
30 years$1,669$1,197$841$582$398$118
31 years$1,598$1,131$784$535$359$101
32 years$1,531$1,070$732$491$325$87
33 years$1,468$1,014$683$452$294$75
34 years$1,410$961$639$416$266$65
35 years$1,354$911$597$383$241$56
36 years$1,302$865$558$352$219$48
37 years$1,253$821$523$325$198$41
38 years$1,207$781$489$299$180$35
39 years$1,163$742$459$276$163$30
40 years$1,121$706$430$255$148$26
41 years$1,082$672$403$235$134$23
42 years$1,044$640$378$217$122$19
43 years$1,008$610$355$200$110$17
44 years$974$581$333$185$100$14
45 years$942$555$313$171$91$12
46 years$911$529$294$158$83$11
47 years$882$505$276$146$75$9
48 years$853$482$259$135$68$8
49 years$826$460$244$124$62$7
50 years$801$440$229$115$56$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $820,000, adding $3,112 every year, while hoping to spend $23,459 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: 24/48/28 Blend
55$820,000$820,000$820,000$820,000
56$906,850$863,390$850,680$920,563
57$974,389$880,736$854,218$949,800
58$1,048,030$898,146$857,087$978,918
59$1,128,371$915,597$859,242$1,009,625
60$1,216,071$933,067$860,633$1,042,067
61$1,311,854$950,531$861,207$1,076,408
62$1,416,516$967,960$860,911$1,112,830
63$1,530,935$985,325$859,686$1,151,534
64$1,656,078$1,002,593$857,473$1,192,741
65$1,793,009$1,019,731$854,210$1,236,697
66$1,942,899$1,036,702$849,829$1,283,675
67$2,107,039$1,053,464$844,262$1,333,975
68$2,286,848$1,069,975$837,437$1,387,932
69$2,483,893$1,086,190$829,277$1,445,912
70$2,699,895$1,102,058$819,702$1,508,325
71$2,936,753$1,117,527$808,631$1,575,622
72$3,196,556$1,132,541$795,975$1,648,302
73$3,481,607$1,147,038$781,642$1,726,916
74$3,794,443$1,160,954$765,539$1,812,076
75$4,137,855$1,174,220$747,563$1,904,456
76$4,514,921$1,186,762$727,612$2,004,803
77$4,929,031$1,198,501$705,575$2,113,942
78$5,383,918$1,209,353$681,337$2,232,785
79$5,883,695$1,219,229$654,780$2,362,340
80$6,432,894$1,228,034$625,777$2,503,722
81$7,036,507$1,235,665$594,198$2,658,161
82$7,700,033$1,242,015$559,906$2,827,020
83$8,429,532$1,246,969$522,758$3,011,800
84$9,231,679$1,250,405$482,605$3,214,164
85$10,113,828$1,252,193$439,290$3,435,944
86$11,084,083$1,252,195$392,651$3,679,169
87$12,151,370$1,250,264$342,516$3,946,076
88$13,325,528$1,246,245$288,708$4,239,137
89$14,617,394$1,239,972$231,041$4,561,082
90$16,038,908$1,231,271$169,322$4,914,924
91$17,603,229$1,219,956$103,346$5,303,992
92$19,324,854$1,205,829$32,904$5,731,959
93$21,219,756$1,188,682$0$6,202,881
94$23,305,538$1,168,294$0$6,733,865
95$25,601,592$1,144,429$0$7,328,534
96$28,129,288$1,116,840$0$7,982,575
97$30,912,174$1,085,264$0$8,702,082
98$33,976,196$1,049,422$0$9,493,777
99$37,349,944$1,009,020$0$10,365,072
100$41,064,922$963,746$0$11,324,142