Can I retire at age 56 with 823,000?

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 $823,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.4%
1 years$67,963$67,357$66,767$66,190$65,627$63,148
2 years$33,645$33,018$32,411$31,822$31,251$28,782
3 years$22,207$21,578$20,972$20,389$19,827$17,446
4 years$16,489$15,862$15,262$14,689$14,141$11,866
5 years$13,060$12,436$11,844$11,283$10,750$8,587
6 years$10,774$10,155$9,572$9,023$8,506$6,456
7 years$9,142$8,528$7,954$7,418$6,917$4,981
8 years$7,918$7,310$6,746$6,223$5,739$3,913
9 years$6,967$6,365$5,810$5,300$4,833$3,116
10 years$6,207$5,610$5,065$4,569$4,118$2,506
11 years$5,585$4,994$4,460$3,976$3,541$2,031
12 years$5,067$4,483$3,958$3,488$3,069$1,656
13 years$4,629$4,051$3,536$3,079$2,676$1,358
14 years$4,255$3,682$3,177$2,733$2,346$1,117
15 years$3,930$3,364$2,868$2,438$2,066$922
16 years$3,646$3,086$2,601$2,183$1,826$763
17 years$3,396$2,842$2,367$1,961$1,619$632
18 years$3,174$2,626$2,160$1,767$1,439$525
19 years$2,976$2,434$1,978$1,597$1,283$437
20 years$2,797$2,262$1,815$1,446$1,146$364
21 years$2,636$2,107$1,669$1,313$1,025$303
22 years$2,490$1,967$1,539$1,194$919$253
23 years$2,356$1,839$1,421$1,087$825$211
24 years$2,234$1,723$1,314$991$742$176
25 years$2,122$1,617$1,217$905$667$147
26 years$2,018$1,520$1,129$828$601$123
27 years$1,923$1,431$1,048$758$542$103
28 years$1,834$1,348$974$694$489$86
29 years$1,752$1,272$907$637$442$72
30 years$1,675$1,201$845$584$399$60
31 years$1,604$1,135$787$537$361$50
32 years$1,537$1,074$735$493$326$42
33 years$1,474$1,017$686$454$295$35
34 years$1,415$964$641$417$267$30
35 years$1,359$915$599$384$242$25
36 years$1,307$868$560$354$219$21
37 years$1,258$824$525$326$199$17
38 years$1,211$783$491$300$180$15
39 years$1,167$745$460$277$163$12
40 years$1,125$709$431$256$148$10
41 years$1,085$675$405$236$135$9
42 years$1,048$643$379$218$122$7
43 years$1,012$612$356$201$111$6
44 years$978$584$334$185$101$5
45 years$945$557$314$171$91$4
46 years$914$531$295$158$83$4
47 years$885$507$277$146$75$3
48 years$856$484$260$135$68$2
49 years$829$462$245$125$62$2
50 years$804$441$230$115$56$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $823,000, adding $3,339 every year, while hoping to spend $39,486 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: 72/6/22 Blend
55$823,000$823,000$823,000$823,000
56$910,390$866,771$854,015$970,783
57$961,237$867,230$840,611$1,011,916
58$1,015,947$866,388$825,436$1,051,932
59$1,074,872$864,140$808,386$1,094,782
60$1,138,400$860,373$789,358$1,140,742
61$1,206,955$854,970$768,240$1,190,116
62$1,281,004$847,803$744,916$1,243,241
63$1,361,062$838,740$719,265$1,300,488
64$1,447,690$827,639$691,161$1,362,268
65$1,541,511$814,350$660,471$1,429,032
66$1,643,205$798,713$627,057$1,501,281
67$1,753,523$780,561$590,774$1,579,566
68$1,873,288$759,714$551,471$1,664,495
69$2,003,408$735,985$508,990$1,756,741
70$2,144,880$709,172$463,165$1,857,045
71$2,298,802$679,066$413,825$1,966,225
72$2,466,381$645,441$360,789$2,085,185
73$2,648,945$608,061$303,869$2,214,920
74$2,847,957$566,676$242,869$2,356,532
75$3,065,027$521,021$177,583$2,511,234
76$3,301,924$470,816$107,797$2,680,365
77$3,560,600$415,765$33,287$2,865,402
78$3,843,200$355,556$0$3,067,976
79$4,152,086$289,858$0$3,300,737
80$4,489,861$218,323$0$3,563,863
81$4,859,388$140,582$0$3,851,779
82$5,263,821$56,246$0$4,166,964
83$5,706,632$0$0$4,512,147
84$6,191,646$0$0$4,892,650
85$6,723,074$0$0$5,313,675
86$7,305,554$0$0$5,775,187
87$7,944,194$0$0$6,281,237
88$8,644,619$0$0$6,836,290
89$9,413,027$0$0$7,445,260
90$10,256,242$0$0$8,113,563
91$11,181,782$0$0$8,847,162
92$12,197,928$0$0$9,652,629
93$13,313,803$0$0$10,537,199
94$14,539,455$0$0$11,508,845
95$15,885,954$0$0$12,576,351
96$17,365,496$0$0$13,749,390
97$18,991,515$0$0$15,038,622
98$20,778,812$0$0$16,455,790
99$22,743,693$0$0$18,013,831
100$24,904,124$0$0$19,726,997