Can I retire at age 56 with 875,000?

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 $875,000?

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$72,257$71,613$70,985$70,372$69,774$67,352
2 years$35,771$35,104$34,459$33,833$33,226$30,810
3 years$23,610$22,941$22,297$21,677$21,080$18,747
4 years$17,531$16,864$16,227$15,617$15,034$12,803
5 years$13,885$13,222$12,593$11,995$11,429$9,304
6 years$11,455$10,797$10,177$9,593$9,043$7,026
7 years$9,719$9,067$8,457$7,887$7,355$5,445
8 years$8,419$7,772$7,172$6,616$6,101$4,298
9 years$7,407$6,767$6,177$5,635$5,138$3,439
10 years$6,599$5,965$5,385$4,858$4,378$2,780
11 years$5,938$5,310$4,741$4,228$3,765$2,265
12 years$5,387$4,766$4,208$3,708$3,263$1,857
13 years$4,922$4,307$3,759$3,274$2,845$1,530
14 years$4,523$3,915$3,378$2,906$2,494$1,266
15 years$4,178$3,576$3,050$2,592$2,196$1,051
16 years$3,877$3,281$2,765$2,321$1,941$875
17 years$3,611$3,022$2,516$2,085$1,721$729
18 years$3,375$2,792$2,297$1,879$1,530$609
19 years$3,164$2,588$2,103$1,698$1,364$510
20 years$2,974$2,405$1,930$1,538$1,218$427
21 years$2,802$2,240$1,775$1,396$1,090$358
22 years$2,647$2,091$1,636$1,269$977$301
23 years$2,505$1,956$1,510$1,156$877$253
24 years$2,375$1,832$1,397$1,054$788$212
25 years$2,256$1,720$1,294$963$709$179
26 years$2,146$1,616$1,200$880$639$150
27 years$2,044$1,521$1,114$806$576$126
28 years$1,950$1,433$1,036$738$520$106
29 years$1,863$1,352$964$677$469$90
30 years$1,781$1,277$898$621$424$75
31 years$1,705$1,207$837$571$383$64
32 years$1,634$1,142$781$524$347$54
33 years$1,567$1,082$729$482$314$45
34 years$1,504$1,025$681$444$284$38
35 years$1,445$972$637$408$257$32
36 years$1,390$923$596$376$233$27
37 years$1,337$877$558$347$211$23
38 years$1,288$833$522$319$192$19
39 years$1,241$792$489$295$174$16
40 years$1,196$754$459$272$158$14
41 years$1,154$717$430$251$143$12
42 years$1,114$683$403$231$130$10
43 years$1,076$651$379$214$118$8
44 years$1,040$620$355$197$107$7
45 years$1,005$592$334$182$97$6
46 years$972$564$313$168$88$5
47 years$941$539$294$155$80$4
48 years$911$514$277$144$73$3
49 years$882$491$260$133$66$3
50 years$854$469$244$123$60$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $875,000, adding $3,059 every year, while hoping to spend $58,079 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: 29/50/21 Blend
55$875,000$875,000$875,000$875,000
56$967,405$921,030$907,468$989,003
57$1,004,285$904,365$876,072$989,204
58$1,042,980$884,937$841,679$984,034
59$1,083,614$862,549$804,125$977,250
60$1,126,321$836,993$763,242$968,747
61$1,171,249$808,048$718,853$958,420
62$1,218,555$775,481$670,773$946,157
63$1,268,413$739,045$618,810$931,841
64$1,321,012$698,479$562,761$915,353
65$1,376,558$653,507$502,416$896,567
66$1,435,275$603,837$437,555$875,355
67$1,497,407$549,159$367,947$851,583
68$1,563,223$489,148$293,354$825,113
69$1,633,014$423,459$213,523$795,804
70$1,707,099$351,726$128,194$763,510
71$1,785,828$273,565$37,093$728,081
72$1,869,582$188,570$0$689,364
73$1,958,780$96,310$0$660,676
74$2,053,878$0$0$638,130
75$2,155,379$0$0$615,334
76$2,263,830$0$0$647,678
77$2,379,835$0$0$682,363
78$2,504,053$0$0$719,598
79$2,637,207$0$0$759,611
80$2,780,092$0$0$802,654
81$2,933,579$0$0$849,002
82$3,098,624$0$0$898,959
83$3,276,277$0$0$952,858
84$3,467,691$0$0$1,011,063
85$3,674,131$0$0$1,073,978
86$3,896,990$0$0$1,142,042
87$4,137,795$0$0$1,215,743
88$4,398,227$0$0$1,295,614
89$4,680,132$0$0$1,382,241
90$4,985,540$0$0$1,476,270
91$5,316,682$0$0$1,578,410
92$5,676,013$0$0$1,689,444
93$6,066,232$0$0$1,810,228
94$6,490,309$0$0$1,941,709
95$6,951,509$0$0$2,084,927
96$7,453,426$0$0$2,241,026
97$8,000,014$0$0$2,411,265
98$8,595,623$0$0$2,597,030
99$9,245,042$0$0$2,799,848
100$9,953,541$0$0$3,021,397