Can I retire at age 56 with 849,000?

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 $849,000?

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$70,110$69,485$68,876$68,281$67,700$66,442
2 years$34,708$34,061$33,435$32,827$32,238$30,975
3 years$22,909$22,259$21,635$21,033$20,453$19,225
4 years$17,010$16,363$15,744$15,153$14,587$13,403
5 years$13,472$12,829$12,218$11,639$11,089$9,953
6 years$11,114$10,476$9,874$9,308$8,774$7,687
7 years$9,431$8,797$8,206$7,652$7,136$6,097
8 years$8,168$7,541$6,959$6,419$5,920$4,930
9 years$7,187$6,566$5,994$5,468$4,985$4,044
10 years$6,403$5,787$5,225$4,713$4,248$3,353
11 years$5,761$5,152$4,600$4,102$3,653$2,805
12 years$5,227$4,624$4,083$3,598$3,166$2,363
13 years$4,776$4,179$3,648$3,177$2,761$2,001
14 years$4,389$3,799$3,277$2,820$2,420$1,703
15 years$4,054$3,470$2,959$2,515$2,131$1,455
16 years$3,761$3,184$2,683$2,252$1,883$1,247
17 years$3,503$2,932$2,441$2,023$1,670$1,071
18 years$3,274$2,709$2,229$1,823$1,485$923
19 years$3,070$2,511$2,040$1,647$1,323$796
20 years$2,885$2,333$1,872$1,492$1,182$688
21 years$2,719$2,174$1,722$1,354$1,058$596
22 years$2,568$2,029$1,587$1,231$948$516
23 years$2,431$1,898$1,466$1,121$851$448
24 years$2,305$1,778$1,355$1,023$765$389
25 years$2,189$1,668$1,255$934$688$338
26 years$2,082$1,568$1,164$854$620$294
27 years$1,984$1,476$1,081$782$559$256
28 years$1,892$1,391$1,005$716$504$222
29 years$1,807$1,312$935$657$455$194
30 years$1,728$1,239$871$603$412$169
31 years$1,654$1,171$812$554$372$147
32 years$1,585$1,108$758$509$337$128
33 years$1,520$1,049$708$468$305$112
34 years$1,460$995$661$430$276$97
35 years$1,402$943$618$396$250$85
36 years$1,348$895$578$365$226$74
37 years$1,298$850$541$336$205$65
38 years$1,249$808$507$310$186$56
39 years$1,204$769$475$286$169$49
40 years$1,161$731$445$264$153$43
41 years$1,120$696$417$243$139$38
42 years$1,081$663$391$224$126$33
43 years$1,044$632$367$207$114$29
44 years$1,009$602$345$191$104$25
45 years$975$574$324$177$94$22
46 years$943$548$304$163$86$19
47 years$913$523$286$151$78$17
48 years$884$499$268$139$71$15
49 years$856$476$252$129$64$13
50 years$829$455$237$119$58$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $849,000, adding $6,010 every year, while hoping to spend $42,336 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: 45/36/19 Blend
55$849,000$849,000$849,000$849,000
56$941,797$896,800$883,641$978,788
57$992,815$895,698$868,198$1,004,221
58$1,047,619$893,123$850,818$1,027,112
59$1,106,548$888,959$831,393$1,051,050
60$1,169,978$883,080$809,807$1,076,152
61$1,238,321$875,357$785,941$1,102,549
62$1,312,029$865,648$759,669$1,130,388
63$1,391,598$853,807$730,860$1,159,833
64$1,477,574$839,676$699,376$1,191,070
65$1,570,557$823,090$665,075$1,224,304
66$1,671,205$803,873$627,807$1,259,767
67$1,780,243$781,838$587,414$1,297,718
68$1,898,469$756,789$543,733$1,338,444
69$2,026,758$728,517$496,593$1,382,268
70$2,166,073$696,801$445,815$1,429,551
71$2,317,475$661,407$391,213$1,480,691
72$2,482,130$622,088$332,591$1,536,137
73$2,661,320$578,583$269,746$1,596,386
74$2,856,457$530,616$202,464$1,661,991
75$3,069,094$477,894$130,525$1,733,570
76$3,300,940$420,110$53,696$1,811,807
77$3,553,877$356,936$0$1,897,466
78$3,829,975$288,028$0$1,997,130
79$4,131,513$213,022$0$2,117,993
80$4,461,001$131,534$0$2,250,258
81$4,821,201$43,157$0$2,395,140
82$5,215,154$0$0$2,553,986
83$5,646,210$0$0$2,749,097
84$6,118,055$0$0$2,981,483
85$6,634,751$0$0$3,236,060
86$7,200,768$0$0$3,515,043
87$7,821,031$0$0$3,820,873
88$8,500,962$0$0$4,156,237
89$9,246,536$0$0$4,524,097
90$10,064,330$0$0$4,927,711
91$10,961,591$0$0$5,370,672
92$11,946,299$0$0$5,856,936
93$13,027,246$0$0$6,390,860
94$14,214,116$0$0$6,977,244
95$15,517,577$0$0$7,621,377
96$16,949,380$0$0$8,329,083
97$18,522,470$0$0$9,106,781
98$20,251,110$0$0$9,961,541
99$22,151,010$0$0$10,901,150
100$24,239,481$0$0$11,934,191