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%12.4%
1 years$72,339$71,695$71,066$70,453$69,853$69,153
2 years$35,812$35,145$34,498$33,871$33,264$32,558
3 years$23,637$22,967$22,323$21,702$21,104$20,415
4 years$17,551$16,883$16,245$15,635$15,051$14,385
5 years$13,901$13,237$12,607$12,009$11,442$10,799
6 years$11,468$10,809$10,188$9,604$9,054$8,436
7 years$9,730$9,077$8,466$7,896$7,363$6,770
8 years$8,428$7,781$7,180$6,624$6,108$5,541
9 years$7,416$6,775$6,184$5,642$5,144$4,602
10 years$6,606$5,972$5,392$4,863$4,383$3,865
11 years$5,945$5,316$4,747$4,233$3,770$3,276
12 years$5,394$4,771$4,213$3,713$3,267$2,797
13 years$4,928$4,312$3,764$3,278$2,849$2,402
14 years$4,529$3,919$3,382$2,909$2,497$2,073
15 years$4,183$3,581$3,053$2,595$2,199$1,796
16 years$3,881$3,285$2,768$2,323$1,943$1,562
17 years$3,615$3,025$2,519$2,087$1,723$1,362
18 years$3,378$2,796$2,299$1,881$1,532$1,191
19 years$3,167$2,591$2,105$1,700$1,365$1,044
20 years$2,977$2,408$1,932$1,540$1,220$916
21 years$2,806$2,243$1,777$1,397$1,091$806
22 years$2,650$2,093$1,638$1,270$978$709
23 years$2,508$1,958$1,512$1,157$878$625
24 years$2,378$1,834$1,399$1,055$789$552
25 years$2,258$1,722$1,295$964$710$488
26 years$2,148$1,618$1,201$881$640$431
27 years$2,047$1,523$1,116$807$577$381
28 years$1,952$1,435$1,037$739$520$338
29 years$1,865$1,354$965$678$470$299
30 years$1,783$1,278$899$622$425$265
31 years$1,707$1,208$838$571$384$235
32 years$1,636$1,143$782$525$347$209
33 years$1,569$1,083$730$483$314$185
34 years$1,506$1,026$682$444$285$164
35 years$1,447$973$638$409$258$146
36 years$1,391$924$597$377$234$129
37 years$1,339$878$558$347$212$115
38 years$1,289$834$523$320$192$102
39 years$1,242$793$490$295$174$91
40 years$1,198$754$459$272$158$81
41 years$1,155$718$431$251$143$72
42 years$1,115$684$404$232$130$64
43 years$1,077$652$379$214$118$57
44 years$1,041$621$356$197$107$50
45 years$1,006$592$334$182$97$45
46 years$973$565$314$168$88$40
47 years$942$539$295$156$80$35
48 years$912$515$277$144$73$31
49 years$883$492$260$133$66$28
50 years$855$470$245$123$60$25

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $876,000, adding $3,607 every year, while hoping to spend $43,120 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: 74/11/15 Blend
55$876,000$876,000$876,000$876,000
56$969,073$922,645$909,067$1,037,332
57$1,022,039$921,975$893,641$1,082,316
58$1,078,962$919,827$876,253$1,125,917
59$1,140,201$916,083$856,793$1,172,535
60$1,206,148$910,618$835,142$1,222,459
61$1,277,237$903,300$811,180$1,276,007
62$1,353,940$893,986$784,780$1,333,530
63$1,436,779$882,529$755,807$1,395,415
64$1,526,327$868,769$724,123$1,462,090
65$1,623,213$852,540$689,582$1,534,025
66$1,728,129$833,663$652,032$1,611,742
67$1,841,836$811,950$611,313$1,695,814
68$1,965,171$787,204$567,260$1,786,876
69$2,099,053$759,211$519,697$1,885,625
70$2,244,495$727,750$468,445$1,992,834
71$2,402,608$692,585$413,313$2,109,354
72$2,574,618$653,466$354,103$2,236,123
73$2,761,872$610,128$290,608$2,374,178
74$2,965,852$562,294$222,613$2,524,663
75$3,188,189$509,667$149,891$2,688,839
76$3,430,679$451,935$72,207$2,868,097
77$3,695,298$388,770$0$3,063,973
78$3,984,221$319,822$0$3,279,873
79$4,299,842$244,723$0$3,528,399
80$4,644,797$163,086$0$3,800,085
81$5,021,988$74,499$0$4,097,251
82$5,434,611$0$0$4,422,452
83$5,886,183$0$0$4,781,103
84$6,380,578$0$0$5,183,675
85$6,922,063$0$0$5,624,629
86$7,515,335$0$0$6,107,795
87$8,165,568$0$0$6,637,392
88$8,878,461$0$0$7,218,066
89$9,660,289$0$0$7,854,934
90$10,517,965$0$0$8,553,632
91$11,459,102$0$0$9,320,368
92$12,492,086$0$0$10,161,981
93$13,626,156$0$0$11,086,002
94$14,871,487$0$0$12,100,730
95$16,239,289$0$0$13,215,305
96$17,741,910$0$0$14,439,797
97$19,392,955$0$0$15,785,296
98$21,207,409$0$0$17,264,025
99$23,201,783$0$0$18,889,447
100$25,394,267$0$0$20,676,392