Can I retire at age 56 with 860,000?

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 $860,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.6%
1 years$71,018$70,385$69,768$69,166$68,578$66,197
2 years$35,157$34,503$33,868$33,253$32,656$30,282
3 years$23,205$22,548$21,915$21,305$20,718$18,426
4 years$17,231$16,575$15,948$15,349$14,776$12,583
5 years$13,647$12,995$12,377$11,790$11,233$9,144
6 years$11,258$10,611$10,002$9,428$8,888$6,906
7 years$9,553$8,911$8,312$7,752$7,228$5,352
8 years$8,274$7,639$7,049$6,503$5,997$4,225
9 years$7,280$6,651$6,071$5,539$5,050$3,380
10 years$6,486$5,862$5,293$4,774$4,303$2,732
11 years$5,836$5,219$4,660$4,155$3,701$2,226
12 years$5,295$4,684$4,136$3,645$3,207$1,825
13 years$4,838$4,233$3,695$3,218$2,796$1,504
14 years$4,446$3,848$3,320$2,856$2,451$1,244
15 years$4,107$3,515$2,997$2,547$2,158$1,033
16 years$3,810$3,225$2,718$2,281$1,908$860
17 years$3,549$2,970$2,473$2,049$1,691$717
18 years$3,317$2,745$2,257$1,847$1,504$599
19 years$3,109$2,544$2,067$1,669$1,340$501
20 years$2,923$2,364$1,897$1,511$1,197$420
21 years$2,754$2,202$1,745$1,372$1,071$352
22 years$2,601$2,055$1,608$1,247$960$296
23 years$2,462$1,922$1,485$1,136$862$248
24 years$2,334$1,801$1,373$1,036$775$209
25 years$2,217$1,690$1,272$946$697$176
26 years$2,109$1,588$1,179$865$628$148
27 years$2,009$1,495$1,095$792$566$124
28 years$1,917$1,409$1,018$725$511$105
29 years$1,831$1,329$947$665$461$88
30 years$1,751$1,255$882$611$417$74
31 years$1,676$1,186$823$561$377$63
32 years$1,606$1,123$768$515$341$53
33 years$1,540$1,063$717$474$309$44
34 years$1,479$1,008$670$436$279$37
35 years$1,421$956$626$401$253$32
36 years$1,366$907$586$370$229$27
37 years$1,314$861$548$341$208$22
38 years$1,266$819$513$314$188$19
39 years$1,219$779$481$289$171$16
40 years$1,176$741$451$267$155$13
41 years$1,134$705$423$246$141$11
42 years$1,095$671$397$227$128$10
43 years$1,057$640$372$210$116$8
44 years$1,022$610$349$194$105$7
45 years$988$582$328$179$95$6
46 years$955$555$308$165$87$5
47 years$925$529$289$153$79$4
48 years$895$505$272$141$71$3
49 years$867$483$256$130$65$3
50 years$840$461$240$121$59$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $860,000, adding $5,257 every year, while hoping to spend $34,057 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: 67/13/20 Blend
55$860,000$860,000$860,000$860,000
56$953,143$907,563$894,233$1,011,904
57$1,014,127$915,797$887,953$1,060,147
58$1,080,190$923,293$880,322$1,108,462
59$1,151,814$929,979$871,257$1,160,479
60$1,229,529$935,778$860,675$1,216,562
61$1,313,919$940,609$848,485$1,277,111
62$1,405,624$944,384$834,594$1,342,569
63$1,505,350$947,011$818,906$1,413,425
64$1,613,873$948,393$801,316$1,490,217
65$1,732,047$948,423$781,720$1,573,539
66$1,860,813$946,992$760,004$1,664,046
67$2,001,203$943,982$736,051$1,762,464
68$2,154,357$939,268$709,740$1,869,588
69$2,321,527$932,718$680,942$1,986,301
70$2,504,092$924,191$649,523$2,113,574
71$2,703,570$913,537$615,343$2,252,478
72$2,921,633$900,599$578,256$2,404,196
73$3,160,121$885,210$538,109$2,570,033
74$3,421,060$867,192$494,742$2,751,426
75$3,706,681$846,357$447,989$2,949,963
76$4,019,440$822,506$397,674$3,167,396
77$4,362,044$795,429$343,616$3,405,655
78$4,737,470$764,903$285,625$3,666,870
79$5,149,000$730,692$223,502$3,953,391
80$5,600,248$692,546$157,040$4,267,810
81$6,095,194$650,201$86,021$4,612,984
82$6,638,222$603,379$10,221$4,992,066
83$7,234,160$551,784$0$5,408,532
84$7,888,327$495,105$0$5,881,296
85$8,606,583$433,011$0$6,402,815
86$9,395,380$365,154$0$6,975,621
87$10,261,828$291,166$0$7,604,913
88$11,213,760$210,659$0$8,296,421
89$12,259,804$123,221$0$9,056,459
90$13,409,465$28,420$0$9,891,986
91$14,673,215$0$0$10,810,670
92$16,062,591$0$0$11,831,579
93$17,590,303$0$0$12,958,666
94$19,270,356$0$0$14,198,204
95$21,118,178$0$0$15,561,584
96$23,150,769$0$0$17,061,357
97$25,386,858$0$0$18,711,350
98$27,847,082$0$0$20,526,798
99$30,554,177$0$0$22,524,490
100$33,533,197$0$0$24,722,921