Can I retire at age 56 with 868,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $868,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.4%
1 years$71,679$71,040$70,417$69,809$69,216$68,808
2 years$35,484$34,824$34,183$33,562$32,960$32,549
3 years$23,421$22,758$22,119$21,504$20,911$20,509
4 years$17,391$16,729$16,097$15,492$14,914$14,524
5 years$13,774$13,116$12,492$11,899$11,337$10,961
6 years$11,363$10,710$10,095$9,516$8,971$8,608
7 years$9,642$8,994$8,389$7,824$7,296$6,947
8 years$8,351$7,710$7,115$6,563$6,052$5,718
9 years$7,348$6,713$6,128$5,590$5,097$4,777
10 years$6,546$5,917$5,342$4,819$4,343$4,036
11 years$5,890$5,268$4,703$4,194$3,735$3,442
12 years$5,344$4,728$4,174$3,679$3,237$2,957
13 years$4,883$4,273$3,729$3,248$2,823$2,556
14 years$4,487$3,884$3,351$2,883$2,474$2,220
15 years$4,145$3,548$3,025$2,571$2,178$1,937
16 years$3,846$3,255$2,743$2,302$1,925$1,696
17 years$3,582$2,998$2,496$2,068$1,707$1,489
18 years$3,348$2,770$2,278$1,864$1,518$1,311
19 years$3,138$2,567$2,086$1,684$1,353$1,157
20 years$2,950$2,386$1,914$1,525$1,208$1,024
21 years$2,780$2,222$1,761$1,384$1,081$907
22 years$2,626$2,074$1,623$1,259$969$804
23 years$2,485$1,940$1,498$1,146$870$715
24 years$2,356$1,818$1,386$1,046$782$636
25 years$2,238$1,706$1,283$955$704$566
26 years$2,129$1,603$1,190$873$634$504
27 years$2,028$1,509$1,105$799$572$450
28 years$1,935$1,422$1,028$732$516$401
29 years$1,848$1,341$956$671$466$358
30 years$1,767$1,267$891$616$421$320
31 years$1,691$1,197$830$566$380$286
32 years$1,621$1,133$775$520$344$256
33 years$1,554$1,073$723$478$311$229
34 years$1,492$1,017$676$440$282$205
35 years$1,434$965$632$405$255$183
36 years$1,379$915$591$373$231$164
37 years$1,327$870$553$344$210$147
38 years$1,277$826$518$317$190$132
39 years$1,231$786$485$292$172$118
40 years$1,187$748$455$269$156$106
41 years$1,145$712$427$249$142$95
42 years$1,105$678$400$229$129$85
43 years$1,067$646$376$212$117$76
44 years$1,031$616$353$196$106$68
45 years$997$587$331$181$96$61
46 years$964$560$311$167$87$55
47 years$933$534$292$154$79$49
48 years$903$510$274$142$72$44
49 years$875$487$258$132$65$40
50 years$847$465$243$122$59$36

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $868,000, adding $2,430 every year, while hoping to spend $38,376 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: 62/20/18 Blend
55$868,000$868,000$868,000$868,000
56$959,043$913,039$899,585$1,013,963
57$1,016,033$916,946$888,889$1,055,158
58$1,077,551$919,758$876,549$1,095,585
59$1,144,016$921,381$862,468$1,138,823
60$1,215,892$921,716$846,548$1,185,149
61$1,293,689$920,655$828,682$1,234,868
62$1,377,964$918,086$808,762$1,288,319
63$1,469,334$913,890$786,673$1,345,875
64$1,568,473$907,938$762,295$1,407,950
65$1,676,128$900,097$735,501$1,475,001
66$1,793,114$890,223$706,162$1,547,532
67$1,920,333$878,166$674,140$1,626,100
68$2,058,774$863,763$639,290$1,711,323
69$2,209,527$846,845$601,465$1,803,880
70$2,373,791$827,233$560,506$1,904,525
71$2,552,884$804,734$516,250$2,014,088
72$2,748,260$779,148$468,526$2,133,487
73$2,961,516$750,259$417,155$2,263,737
74$3,194,412$717,843$361,950$2,405,957
75$3,448,883$681,659$302,717$2,561,384
76$3,727,064$641,454$239,252$2,731,384
77$4,031,299$596,961$171,343$2,917,466
78$4,364,176$547,896$98,766$3,121,294
79$4,728,538$493,959$21,292$3,344,708
80$5,127,521$434,835$0$3,589,737
81$5,564,576$370,190$0$3,870,413
82$6,043,502$299,669$0$4,182,550
83$6,568,486$222,899$0$4,524,835
84$7,144,138$139,488$0$4,900,336
85$7,775,535$49,017$0$5,312,432
86$8,468,269$0$0$5,764,854
87$9,228,500$0$0$6,272,486
88$10,063,014$0$0$6,841,626
89$10,979,284$0$0$7,466,593
90$11,985,544$0$0$8,153,010
91$13,090,862$0$0$8,907,075
92$14,305,232$0$0$9,735,611
93$15,639,659$0$0$10,646,138
94$17,106,269$0$0$11,646,940
95$18,718,421$0$0$12,747,144
96$20,490,833$0$0$13,956,803
97$22,439,720$0$0$15,286,994
98$24,582,946$0$0$16,749,924
99$26,940,194$0$0$18,359,037
100$29,533,149$0$0$20,129,149