Can I retire at age 56 with 871,000?

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 $871,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.7%
1 years$71,926$71,286$70,661$70,051$69,455$68,672
2 years$35,607$34,944$34,301$33,678$33,074$32,286
3 years$23,502$22,836$22,195$21,578$20,983$20,215
4 years$17,451$16,787$16,152$15,546$14,965$14,222
5 years$13,821$13,161$12,535$11,941$11,377$10,660
6 years$11,402$10,747$10,130$9,549$9,002$8,314
7 years$9,675$9,025$8,418$7,851$7,321$6,661
8 years$8,380$7,736$7,139$6,586$6,073$5,442
9 years$7,374$6,736$6,149$5,610$5,115$4,512
10 years$6,569$5,937$5,361$4,836$4,358$3,783
11 years$5,911$5,286$4,720$4,208$3,748$3,200
12 years$5,363$4,744$4,189$3,691$3,248$2,727
13 years$4,900$4,287$3,742$3,259$2,832$2,337
14 years$4,503$3,897$3,362$2,893$2,483$2,013
15 years$4,159$3,560$3,036$2,580$2,186$1,741
16 years$3,859$3,266$2,752$2,310$1,932$1,511
17 years$3,594$3,008$2,505$2,076$1,713$1,315
18 years$3,359$2,780$2,286$1,870$1,523$1,147
19 years$3,149$2,576$2,093$1,690$1,358$1,003
20 years$2,960$2,394$1,921$1,531$1,213$879
21 years$2,790$2,230$1,767$1,389$1,085$771
22 years$2,635$2,081$1,628$1,263$973$677
23 years$2,494$1,947$1,504$1,150$873$596
24 years$2,364$1,824$1,391$1,049$785$525
25 years$2,246$1,712$1,288$958$706$462
26 years$2,136$1,609$1,194$876$636$408
27 years$2,035$1,514$1,109$802$574$360
28 years$1,941$1,427$1,031$735$518$318
29 years$1,854$1,346$960$674$467$281
30 years$1,773$1,271$894$618$422$248
31 years$1,697$1,202$833$568$382$220
32 years$1,626$1,137$777$522$345$194
33 years$1,560$1,077$726$480$313$172
34 years$1,497$1,020$678$442$283$152
35 years$1,439$968$634$407$256$135
36 years$1,383$919$593$374$232$119
37 years$1,331$873$555$345$210$106
38 years$1,282$829$520$318$191$94
39 years$1,235$788$487$293$173$83
40 years$1,191$750$457$270$157$74
41 years$1,149$714$428$249$142$65
42 years$1,109$680$402$230$129$58
43 years$1,071$648$377$213$117$51
44 years$1,035$618$354$196$106$46
45 years$1,000$589$332$181$97$40
46 years$968$562$312$167$88$36
47 years$936$536$293$155$80$32
48 years$906$512$275$143$72$28
49 years$878$489$259$132$66$25
50 years$850$467$243$122$60$22

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $871,000, adding $6,246 every year, while hoping to spend $51,900 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: 85/8/7 Blend
55$871,000$871,000$871,000$871,000
56$966,285$920,122$906,621$1,047,326
57$1,009,625$909,987$881,772$1,091,007
58$1,055,646$897,615$854,351$1,131,254
59$1,104,567$882,843$824,216$1,173,826
60$1,156,627$865,497$791,222$1,218,920
61$1,212,088$845,392$755,213$1,266,755
62$1,271,237$822,332$716,029$1,317,573
63$1,334,388$796,111$673,500$1,371,638
64$1,401,885$766,510$627,452$1,429,242
65$1,474,105$733,297$577,700$1,490,706
66$1,551,463$696,228$524,052$1,556,382
67$1,634,412$655,042$466,307$1,626,660
68$1,723,449$609,467$404,256$1,701,968
69$1,819,122$559,211$337,679$1,782,778
70$1,922,029$503,970$266,349$1,869,610
71$2,032,830$443,418$190,025$1,963,036
72$2,152,247$377,214$108,460$2,063,687
73$2,281,075$304,996$21,392$2,172,258
74$2,420,186$226,383$0$2,289,515
75$2,570,540$140,970$0$2,421,645
76$2,733,189$48,332$0$2,566,287
77$2,909,294$0$0$2,722,890
78$3,100,126$0$0$2,897,184
79$3,307,087$0$0$3,090,833
80$3,531,717$0$0$3,301,025
81$3,775,708$0$0$3,529,348
82$4,040,926$0$0$3,777,545
83$4,329,419$0$0$4,047,537
84$4,643,441$0$0$4,341,436
85$4,985,476$0$0$4,661,565
86$5,358,253$0$0$5,010,483
87$5,764,777$0$0$5,391,003
88$6,208,356$0$0$5,806,225
89$6,692,630$0$0$6,259,557
90$7,221,608$0$0$6,754,753
91$7,799,701$0$0$7,295,946
92$8,431,767$0$0$7,887,686
93$9,123,152$0$0$8,534,981
94$9,879,746$0$0$9,243,346
95$10,708,033$0$0$10,018,856
96$11,615,153$0$0$10,868,197
97$12,608,968$0$0$11,798,735
98$13,698,138$0$0$12,818,580
99$14,892,200$0$0$13,936,664
100$16,201,657$0$0$15,162,827