Can I retire at age 56 with 876,000?

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 $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%19.8%
1 years$72,339$71,695$71,066$70,453$69,853$67,108
2 years$35,812$35,145$34,498$33,871$33,264$30,532
3 years$23,637$22,967$22,323$21,702$21,104$18,471
4 years$17,551$16,883$16,245$15,635$15,051$12,538
5 years$13,901$13,237$12,607$12,009$11,442$9,054
6 years$11,468$10,809$10,188$9,604$9,054$6,792
7 years$9,730$9,077$8,466$7,896$7,363$5,228
8 years$8,428$7,781$7,180$6,624$6,108$4,098
9 years$7,416$6,775$6,184$5,642$5,144$3,254
10 years$6,606$5,972$5,392$4,863$4,383$2,611
11 years$5,945$5,316$4,747$4,233$3,770$2,111
12 years$5,394$4,771$4,213$3,713$3,267$1,717
13 years$4,928$4,312$3,764$3,278$2,849$1,403
14 years$4,529$3,919$3,382$2,909$2,497$1,151
15 years$4,183$3,581$3,053$2,595$2,199$947
16 years$3,881$3,285$2,768$2,323$1,943$782
17 years$3,615$3,025$2,519$2,087$1,723$646
18 years$3,378$2,796$2,299$1,881$1,532$535
19 years$3,167$2,591$2,105$1,700$1,365$444
20 years$2,977$2,408$1,932$1,540$1,220$368
21 years$2,806$2,243$1,777$1,397$1,091$306
22 years$2,650$2,093$1,638$1,270$978$254
23 years$2,508$1,958$1,512$1,157$878$212
24 years$2,378$1,834$1,399$1,055$789$176
25 years$2,258$1,722$1,295$964$710$147
26 years$2,148$1,618$1,201$881$640$122
27 years$2,047$1,523$1,116$807$577$102
28 years$1,952$1,435$1,037$739$520$85
29 years$1,865$1,354$965$678$470$71
30 years$1,783$1,278$899$622$425$59
31 years$1,707$1,208$838$571$384$49
32 years$1,636$1,143$782$525$347$41
33 years$1,569$1,083$730$483$314$34
34 years$1,506$1,026$682$444$285$29
35 years$1,447$973$638$409$258$24
36 years$1,391$924$597$377$234$20
37 years$1,339$878$558$347$212$17
38 years$1,289$834$523$320$192$14
39 years$1,242$793$490$295$174$12
40 years$1,198$754$459$272$158$10
41 years$1,155$718$431$251$143$8
42 years$1,115$684$404$232$130$7
43 years$1,077$652$379$214$118$6
44 years$1,041$621$356$197$107$5
45 years$1,006$592$334$182$97$4
46 years$973$565$314$168$88$3
47 years$942$539$295$156$80$3
48 years$912$515$277$144$73$2
49 years$883$492$260$133$66$2
50 years$855$470$245$123$60$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $876,000, adding $6,109 every year, while hoping to spend $29,690 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: 38/35/27 Blend
55$876,000$876,000$876,000$876,000
56$971,653$925,225$911,647$1,000,567
57$1,039,172$938,972$910,598$1,036,057
58$1,112,583$952,396$908,518$1,071,211
59$1,192,455$965,452$905,342$1,108,632
60$1,279,415$978,089$901,000$1,148,545
61$1,374,153$990,253$895,422$1,191,198
62$1,477,428$1,001,887$888,529$1,236,866
63$1,590,074$1,012,928$880,244$1,285,856
64$1,713,013$1,023,312$870,483$1,338,504
65$1,847,254$1,032,969$859,158$1,395,184
66$1,993,913$1,041,823$846,179$1,456,311
67$2,154,216$1,049,796$831,450$1,522,342
68$2,329,512$1,056,803$814,870$1,593,783
69$2,521,289$1,062,753$796,335$1,671,195
70$2,731,184$1,067,551$775,735$1,755,198
71$2,960,998$1,071,095$752,956$1,846,476
72$3,212,718$1,073,276$727,878$1,945,789
73$3,488,529$1,073,980$700,375$2,053,974
74$3,790,837$1,073,084$670,316$2,171,959
75$4,122,296$1,070,458$637,565$2,300,766
76$4,485,824$1,065,964$601,977$2,441,530
77$4,884,638$1,059,456$563,404$2,595,501
78$5,322,281$1,050,780$521,687$2,764,062
79$5,802,654$1,039,769$476,665$2,948,741
80$6,330,058$1,026,250$428,166$3,151,228
81$6,909,225$1,010,038$376,011$3,373,386
82$7,545,373$990,937$320,015$3,617,277
83$8,244,248$968,739$259,981$3,885,176
84$9,012,179$943,225$195,708$4,179,597
85$9,856,139$914,162$126,983$4,503,316
86$10,783,813$881,303$53,585$4,859,396
87$11,803,663$844,388$0$5,251,224
88$12,925,015$803,142$0$5,689,664
89$14,158,142$757,271$0$6,188,650
90$15,514,364$706,468$0$6,737,354
91$17,006,151$650,407$0$7,340,879
92$18,647,243$588,743$0$8,004,852
93$20,452,781$521,110$0$8,735,477
94$22,439,445$447,125$0$9,539,598
95$24,625,614$366,379$0$10,424,761
96$27,031,538$278,443$0$11,399,287
97$29,679,531$182,863$0$12,472,355
98$32,594,178$79,158$0$13,654,081
99$35,802,571$0$0$14,955,624
100$39,334,559$0$0$16,402,064