Can I retire at age 56 with 877,000?

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 $877,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.4%
1 years$72,422$71,777$71,147$70,533$69,933$67,830
2 years$35,852$35,185$34,538$33,910$33,302$31,201
3 years$23,664$22,994$22,348$21,727$21,128$19,095
4 years$17,571$16,903$16,264$15,653$15,069$13,119
5 years$13,916$13,252$12,621$12,023$11,455$9,594
6 years$11,481$10,821$10,200$9,615$9,064$7,293
7 years$9,742$9,088$8,476$7,905$7,371$5,691
8 years$8,438$7,790$7,188$6,631$6,115$4,524
9 years$7,424$6,782$6,191$5,648$5,150$3,647
10 years$6,614$5,978$5,398$4,869$4,388$2,970
11 years$5,951$5,322$4,752$4,237$3,774$2,439
12 years$5,400$4,777$4,217$3,717$3,270$2,016
13 years$4,933$4,317$3,768$3,281$2,852$1,675
14 years$4,534$3,924$3,386$2,913$2,500$1,397
15 years$4,188$3,585$3,057$2,598$2,201$1,169
16 years$3,885$3,289$2,771$2,326$1,945$982
17 years$3,619$3,029$2,522$2,090$1,725$826
18 years$3,382$2,799$2,302$1,883$1,534$696
19 years$3,171$2,594$2,107$1,702$1,367$588
20 years$2,981$2,410$1,934$1,541$1,221$497
21 years$2,809$2,245$1,779$1,399$1,093$421
22 years$2,653$2,096$1,640$1,272$979$357
23 years$2,511$1,960$1,514$1,158$879$302
24 years$2,381$1,837$1,400$1,056$790$257
25 years$2,261$1,724$1,297$965$711$218
26 years$2,151$1,620$1,203$882$641$185
27 years$2,049$1,524$1,117$807$577$157
28 years$1,955$1,436$1,038$740$521$134
29 years$1,867$1,355$966$678$471$114
30 years$1,785$1,280$900$623$425$97
31 years$1,709$1,210$839$572$384$82
32 years$1,638$1,145$783$526$348$70
33 years$1,571$1,084$731$483$315$60
34 years$1,508$1,027$683$445$285$51
35 years$1,449$975$638$409$258$43
36 years$1,393$925$597$377$234$37
37 years$1,340$879$559$347$212$31
38 years$1,291$835$524$320$192$27
39 years$1,244$794$490$295$174$23
40 years$1,199$755$460$272$158$19
41 years$1,157$719$431$251$143$16
42 years$1,117$685$404$232$130$14
43 years$1,078$652$379$214$118$12
44 years$1,042$622$356$198$107$10
45 years$1,007$593$334$182$97$9
46 years$974$566$314$169$88$7
47 years$943$540$295$156$80$6
48 years$913$515$277$144$73$5
49 years$884$492$261$133$66$5
50 years$856$470$245$123$60$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $877,000, adding $6,502 every year, while hoping to spend $43,354 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: 48/42/10 Blend
55$877,000$877,000$877,000$877,000
56$973,161$926,680$913,086$1,016,918
57$1,026,295$925,959$897,546$1,046,952
58$1,083,396$923,749$880,033$1,074,478
59$1,144,822$919,933$860,434$1,103,372
60$1,210,967$914,383$838,632$1,133,775
61$1,282,265$906,967$814,505$1,165,844
62$1,359,190$897,543$787,925$1,199,755
63$1,442,265$885,960$758,758$1,235,704
64$1,532,063$872,059$726,864$1,273,911
65$1,629,215$855,672$692,095$1,314,619
66$1,734,415$836,619$654,300$1,358,101
67$1,848,424$814,712$613,318$1,404,659
68$1,972,080$789,750$568,981$1,454,633
69$2,106,306$761,521$521,116$1,508,398
70$2,252,115$729,801$469,538$1,566,373
71$2,410,621$694,352$414,058$1,629,023
72$2,583,052$654,923$354,477$1,696,866
73$2,770,757$611,248$290,586$1,770,478
74$2,975,221$563,046$222,168$1,850,498
75$3,198,079$510,021$148,996$1,937,636
76$3,441,129$451,858$70,833$2,032,681
77$3,706,351$388,226$0$2,136,509
78$3,995,924$318,774$0$2,251,434
79$4,312,246$243,131$0$2,385,345
80$4,657,958$160,908$0$2,531,899
81$5,035,968$71,690$0$2,692,453
82$5,449,475$0$0$2,868,508
83$5,902,006$0$0$3,073,259
84$6,397,440$0$0$3,333,791
85$6,940,051$0$0$3,619,229
86$7,534,547$0$0$3,932,062
87$8,186,108$0$0$4,275,030
88$8,900,445$0$0$4,651,150
89$9,683,844$0$0$5,063,747
90$10,543,229$0$0$5,516,481
91$11,486,228$0$0$6,013,385
92$12,521,243$0$0$6,558,901
93$13,657,526$0$0$7,157,923
94$14,905,272$0$0$7,815,841
95$16,275,711$0$0$8,538,592
96$17,781,213$0$0$9,332,718
97$19,435,405$0$0$10,205,425
98$21,253,302$0$0$11,164,653
99$23,251,441$0$0$12,219,148
100$25,448,045$0$0$13,378,546