Can I retire at age 56 with 876,000?

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 $876,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.9%
1 years$72,339$71,695$71,066$70,453$69,853$67,617
2 years$35,812$35,145$34,498$33,871$33,264$31,031
3 years$23,637$22,967$22,323$21,702$21,104$18,946
4 years$17,551$16,883$16,245$15,635$15,051$12,984
5 years$13,901$13,237$12,607$12,009$11,442$9,470
6 years$11,468$10,809$10,188$9,604$9,054$7,179
7 years$9,730$9,077$8,466$7,896$7,363$5,586
8 years$8,428$7,781$7,180$6,624$6,108$4,428
9 years$7,416$6,775$6,184$5,642$5,144$3,558
10 years$6,606$5,972$5,392$4,863$4,383$2,889
11 years$5,945$5,316$4,747$4,233$3,770$2,365
12 years$5,394$4,771$4,213$3,713$3,267$1,948
13 years$4,928$4,312$3,764$3,278$2,849$1,613
14 years$4,529$3,919$3,382$2,909$2,497$1,341
15 years$4,183$3,581$3,053$2,595$2,199$1,118
16 years$3,881$3,285$2,768$2,323$1,943$935
17 years$3,615$3,025$2,519$2,087$1,723$784
18 years$3,378$2,796$2,299$1,881$1,532$659
19 years$3,167$2,591$2,105$1,700$1,365$554
20 years$2,977$2,408$1,932$1,540$1,220$467
21 years$2,806$2,243$1,777$1,397$1,091$394
22 years$2,650$2,093$1,638$1,270$978$332
23 years$2,508$1,958$1,512$1,157$878$281
24 years$2,378$1,834$1,399$1,055$789$237
25 years$2,258$1,722$1,295$964$710$201
26 years$2,148$1,618$1,201$881$640$170
27 years$2,047$1,523$1,116$807$577$144
28 years$1,952$1,435$1,037$739$520$122
29 years$1,865$1,354$965$678$470$103
30 years$1,783$1,278$899$622$425$87
31 years$1,707$1,208$838$571$384$74
32 years$1,636$1,143$782$525$347$63
33 years$1,569$1,083$730$483$314$53
34 years$1,506$1,026$682$444$285$45
35 years$1,447$973$638$409$258$38
36 years$1,391$924$597$377$234$32
37 years$1,339$878$558$347$212$27
38 years$1,289$834$523$320$192$23
39 years$1,242$793$490$295$174$20
40 years$1,198$754$459$272$158$17
41 years$1,155$718$431$251$143$14
42 years$1,115$684$404$232$130$12
43 years$1,077$652$379$214$118$10
44 years$1,041$621$356$197$107$9
45 years$1,006$592$334$182$97$7
46 years$973$565$314$168$88$6
47 years$942$539$295$156$80$5
48 years$912$515$277$144$73$4
49 years$883$492$260$133$66$4
50 years$855$470$245$123$60$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $876,000, adding $3,937 every year, while hoping to spend $47,426 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: 48/23/29 Blend
55$876,000$876,000$876,000$876,000
56$969,413$922,985$909,407$1,007,748
57$1,017,832$917,750$889,411$1,029,918
58$1,069,601$910,670$867,156$1,049,034
59$1,125,010$901,603$842,516$1,068,885
60$1,184,380$890,400$815,359$1,089,565
61$1,248,061$876,904$785,548$1,111,181
62$1,316,438$860,947$752,938$1,133,852
63$1,389,933$842,352$717,380$1,157,714
64$1,469,010$820,931$678,717$1,182,921
65$1,554,178$796,486$636,783$1,209,643
66$1,645,997$768,806$591,407$1,238,076
67$1,745,079$737,668$542,410$1,268,435
68$1,852,100$702,837$489,604$1,300,966
69$1,967,802$664,063$432,793$1,335,942
70$2,092,999$621,083$371,773$1,373,669
71$2,228,587$573,619$306,329$1,414,490
72$2,375,552$521,375$236,240$1,458,789
73$2,534,975$464,040$161,272$1,506,992
74$2,708,050$401,284$81,181$1,559,579
75$2,896,084$332,761$0$1,617,082
76$3,100,521$258,102$0$1,681,423
77$3,322,944$176,920$0$1,778,831
78$3,565,099$88,803$0$1,884,982
79$3,828,906$0$0$2,000,788
80$4,116,475$0$0$2,128,944
81$4,430,133$0$0$2,293,328
82$4,772,438$0$0$2,472,818
83$5,146,207$0$0$2,668,901
84$5,554,540$0$0$2,883,216
85$6,000,851$0$0$3,117,567
86$6,488,898$0$0$3,373,939
87$7,022,818$0$0$3,654,521
88$7,607,167$0$0$3,961,720
89$8,246,963$0$0$4,298,188
90$8,947,730$0$0$4,666,846
91$9,715,551$0$0$5,070,909
92$10,557,128$0$0$5,513,921
93$11,479,839$0$0$5,999,781
94$12,491,813$0$0$6,532,788
95$13,601,999$0$0$7,117,673
96$14,820,260$0$0$7,759,651
97$16,157,455$0$0$8,464,464
98$17,625,548$0$0$9,238,438
99$19,237,718$0$0$10,088,541
100$21,008,481$0$0$11,022,450