Can I retire at age 56 with 866,000?

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 $866,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.8%
1 years$71,513$70,876$70,255$69,648$69,056$66,872
2 years$35,403$34,743$34,104$33,485$32,884$30,704
3 years$23,367$22,705$22,068$21,454$20,863$18,754
4 years$17,351$16,691$16,060$15,456$14,880$12,859
5 years$13,742$13,086$12,463$11,872$11,311$9,384
6 years$11,337$10,685$10,072$9,494$8,950$7,118
7 years$9,619$8,974$8,370$7,806$7,279$5,542
8 years$8,332$7,692$7,098$6,548$6,039$4,395
9 years$7,331$6,697$6,114$5,577$5,085$3,534
10 years$6,531$5,903$5,330$4,808$4,333$2,871
11 years$5,877$5,255$4,693$4,184$3,726$2,352
12 years$5,332$4,717$4,165$3,670$3,229$1,938
13 years$4,871$4,263$3,721$3,240$2,816$1,606
14 years$4,477$3,875$3,343$2,876$2,468$1,336
15 years$4,135$3,540$3,018$2,565$2,173$1,115
16 years$3,837$3,248$2,737$2,297$1,921$934
17 years$3,574$2,991$2,490$2,064$1,703$783
18 years$3,340$2,764$2,273$1,860$1,514$658
19 years$3,131$2,561$2,081$1,680$1,350$554
20 years$2,943$2,380$1,910$1,522$1,206$467
21 years$2,774$2,217$1,757$1,381$1,079$394
22 years$2,620$2,070$1,619$1,256$967$333
23 years$2,479$1,936$1,495$1,144$868$281
24 years$2,351$1,814$1,383$1,043$780$238
25 years$2,233$1,702$1,281$953$702$202
26 years$2,124$1,599$1,188$871$632$171
27 years$2,023$1,505$1,103$797$570$145
28 years$1,930$1,418$1,025$731$515$122
29 years$1,843$1,338$954$670$465$104
30 years$1,763$1,264$889$615$420$88
31 years$1,687$1,195$828$565$380$75
32 years$1,617$1,130$773$519$343$63
33 years$1,551$1,070$722$477$311$54
34 years$1,489$1,015$674$439$281$46
35 years$1,430$962$630$404$255$39
36 years$1,375$913$590$372$231$33
37 years$1,323$867$552$343$209$28
38 years$1,274$824$517$316$190$24
39 years$1,228$784$484$291$172$20
40 years$1,184$746$454$269$156$17
41 years$1,142$710$426$248$142$14
42 years$1,103$676$399$229$128$12
43 years$1,065$644$375$211$117$10
44 years$1,029$614$352$195$106$9
45 years$995$586$330$180$96$7
46 years$962$559$310$166$87$6
47 years$931$533$291$154$79$5
48 years$901$509$274$142$72$5
49 years$873$486$257$131$65$4
50 years$846$464$242$121$59$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $866,000, adding $2,010 every year, while hoping to spend $39,609 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: 72/23/5 Blend
55$866,000$866,000$866,000$866,000
56$956,405$910,507$897,084$1,024,706
57$1,011,815$912,979$884,993$1,072,461
58$1,071,549$914,243$871,169$1,119,562
59$1,136,006$914,201$855,513$1,170,004
60$1,205,626$912,743$837,919$1,224,105
61$1,280,890$909,758$818,280$1,282,213
62$1,362,328$905,123$796,479$1,344,714
63$1,450,522$898,711$772,398$1,412,033
64$1,546,113$890,386$745,911$1,484,640
65$1,649,805$880,003$716,888$1,563,051
66$1,762,373$867,411$685,191$1,647,837
67$1,884,667$852,446$650,677$1,739,628
68$2,017,625$834,938$613,197$1,839,117
69$2,162,277$814,704$572,593$1,947,072
70$2,319,758$791,554$528,704$2,064,336
71$2,491,315$765,282$481,357$2,191,843
72$2,678,322$735,673$430,375$2,330,620
73$2,882,290$702,499$375,571$2,481,803
74$3,104,881$665,520$316,751$2,646,643
75$3,347,928$624,480$253,711$2,826,521
76$3,613,446$579,108$186,240$3,022,961
77$3,903,653$529,120$114,115$3,237,642
78$4,220,994$474,215$37,105$3,472,419
79$4,568,156$414,073$0$3,729,337
80$4,948,103$348,357$0$4,013,056
81$5,364,095$276,712$0$4,325,929
82$5,819,724$198,762$0$4,668,733
83$6,318,944$114,110$0$5,044,511
84$6,866,112$22,337$0$5,456,616
85$7,466,024$0$0$5,908,750
86$8,123,963$0$0$6,424,478
87$8,845,748$0$0$6,996,498
88$9,637,790$0$0$7,624,240
89$10,507,148$0$0$8,313,306
90$11,461,599$0$0$9,069,866
91$12,509,710$0$0$9,900,716
92$13,660,917$0$0$10,813,343
93$14,925,617$0$0$11,815,994
94$16,315,262$0$0$12,917,757
95$17,842,468$0$0$14,128,639
96$19,521,135$0$0$15,459,670
97$21,366,577$0$0$16,922,998
98$23,395,664$0$0$18,532,009
99$25,626,983$0$0$20,301,448
100$28,081,012$0$0$22,247,565