Can I retire at age 56 with 877,000?

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 $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%13.7%
1 years$72,422$71,777$71,147$70,533$69,933$68,860
2 years$35,852$35,185$34,538$33,910$33,302$32,223
3 years$23,664$22,994$22,348$21,727$21,128$20,077
4 years$17,571$16,903$16,264$15,653$15,069$14,054
5 years$13,916$13,252$12,621$12,023$11,455$10,479
6 years$11,481$10,821$10,200$9,615$9,064$8,129
7 years$9,742$9,088$8,476$7,905$7,371$6,477
8 years$8,438$7,790$7,188$6,631$6,115$5,261
9 years$7,424$6,782$6,191$5,648$5,150$4,336
10 years$6,614$5,978$5,398$4,869$4,388$3,613
11 years$5,951$5,322$4,752$4,237$3,774$3,038
12 years$5,400$4,777$4,217$3,717$3,270$2,572
13 years$4,933$4,317$3,768$3,281$2,852$2,190
14 years$4,534$3,924$3,386$2,913$2,500$1,874
15 years$4,188$3,585$3,057$2,598$2,201$1,610
16 years$3,885$3,289$2,771$2,326$1,945$1,387
17 years$3,619$3,029$2,522$2,090$1,725$1,199
18 years$3,382$2,799$2,302$1,883$1,534$1,038
19 years$3,171$2,594$2,107$1,702$1,367$901
20 years$2,981$2,410$1,934$1,541$1,221$784
21 years$2,809$2,245$1,779$1,399$1,093$682
22 years$2,653$2,096$1,640$1,272$979$595
23 years$2,511$1,960$1,514$1,158$879$519
24 years$2,381$1,837$1,400$1,056$790$454
25 years$2,261$1,724$1,297$965$711$397
26 years$2,151$1,620$1,203$882$641$347
27 years$2,049$1,524$1,117$807$577$304
28 years$1,955$1,436$1,038$740$521$266
29 years$1,867$1,355$966$678$471$233
30 years$1,785$1,280$900$623$425$205
31 years$1,709$1,210$839$572$384$180
32 years$1,638$1,145$783$526$348$158
33 years$1,571$1,084$731$483$315$138
34 years$1,508$1,027$683$445$285$121
35 years$1,449$975$638$409$258$107
36 years$1,393$925$597$377$234$94
37 years$1,340$879$559$347$212$82
38 years$1,291$835$524$320$192$72
39 years$1,244$794$490$295$174$64
40 years$1,199$755$460$272$158$56
41 years$1,157$719$431$251$143$49
42 years$1,117$685$404$232$130$43
43 years$1,078$652$379$214$118$38
44 years$1,042$622$356$198$107$33
45 years$1,007$593$334$182$97$29
46 years$974$566$314$169$88$26
47 years$943$540$295$156$80$23
48 years$913$515$277$144$73$20
49 years$884$492$261$133$66$18
50 years$856$470$245$123$60$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $877,000, adding $2,862 every year, while hoping to spend $39,869 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: 40/50/10 Blend
55$877,000$877,000$877,000$877,000
56$969,406$922,925$909,332$1,005,165
57$1,025,865$925,728$897,374$1,033,402
58$1,086,747$927,332$883,679$1,059,756
59$1,152,460$927,637$868,148$1,087,372
60$1,223,455$926,534$850,674$1,116,379
61$1,300,224$923,911$831,149$1,146,926
62$1,383,311$919,647$809,456$1,179,176
63$1,473,312$913,614$785,477$1,213,313
64$1,570,884$905,675$759,084$1,249,542
65$1,676,748$895,687$730,148$1,288,091
66$1,791,698$883,497$698,529$1,329,217
67$1,916,606$868,943$664,085$1,373,205
68$2,052,433$851,854$626,664$1,420,372
69$2,200,235$832,048$586,111$1,471,073
70$2,361,173$809,333$542,260$1,525,701
71$2,536,528$783,506$494,941$1,584,698
72$2,727,705$754,349$443,973$1,648,551
73$2,936,256$721,637$389,171$1,717,804
74$3,163,883$685,126$330,337$1,793,063
75$3,412,465$644,563$267,269$1,874,999
76$3,684,067$599,677$199,753$1,964,361
77$3,980,963$550,183$127,566$2,061,978
78$4,305,658$495,779$50,477$2,168,772
79$4,660,909$436,146$0$2,285,766
80$5,049,752$370,947$0$2,417,488
81$5,475,530$299,827$0$2,567,774
82$5,941,924$222,409$0$2,732,658
83$6,452,990$138,296$0$2,913,717
84$7,013,191$47,069$0$3,112,701
85$7,627,445$0$0$3,331,545
86$8,301,169$0$0$3,600,845
87$9,040,329$0$0$3,924,829
88$9,851,494$0$0$4,280,496
89$10,741,904$0$0$4,671,035
90$11,719,530$0$0$5,099,956
91$12,793,155$0$0$5,571,131
92$13,972,455$0$0$6,088,821
93$15,268,087$0$0$6,657,724
94$16,691,792$0$0$7,283,011
95$18,256,505$0$0$7,970,382
96$19,976,477$0$0$8,726,118
97$21,867,408$0$0$9,557,135
98$23,946,592$0$0$10,471,056
99$26,233,088$0$0$11,476,279
100$28,747,891$0$0$12,582,055