Can I retire at age 56 with 878,000?

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 $878,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.2%
1 years$72,504$71,859$71,228$70,613$70,013$67,691
2 years$35,893$35,225$34,577$33,949$33,340$31,022
3 years$23,691$23,020$22,374$21,751$21,152$18,913
4 years$17,591$16,922$16,282$15,671$15,086$12,941
5 years$13,932$13,267$12,636$12,037$11,468$9,424
6 years$11,494$10,834$10,212$9,626$9,074$7,133
7 years$9,753$9,098$8,486$7,914$7,380$5,541
8 years$8,447$7,799$7,197$6,639$6,122$4,384
9 years$7,433$6,790$6,198$5,655$5,156$3,516
10 years$6,622$5,985$5,404$4,874$4,393$2,850
11 years$5,958$5,328$4,758$4,242$3,778$2,328
12 years$5,406$4,782$4,222$3,721$3,274$1,914
13 years$4,939$4,322$3,772$3,285$2,855$1,581
14 years$4,539$3,928$3,389$2,916$2,503$1,312
15 years$4,193$3,589$3,060$2,601$2,204$1,092
16 years$3,890$3,293$2,775$2,329$1,948$911
17 years$3,623$3,032$2,525$2,092$1,727$762
18 years$3,386$2,802$2,305$1,886$1,535$639
19 years$3,174$2,597$2,110$1,704$1,369$536
20 years$2,984$2,413$1,936$1,543$1,222$451
21 years$2,812$2,248$1,781$1,400$1,094$379
22 years$2,656$2,098$1,642$1,273$981$319
23 years$2,514$1,962$1,516$1,160$880$269
24 years$2,383$1,839$1,402$1,058$791$227
25 years$2,264$1,725$1,298$966$712$191
26 years$2,153$1,622$1,204$883$641$162
27 years$2,051$1,526$1,118$808$578$136
28 years$1,957$1,438$1,039$741$522$115
29 years$1,869$1,357$967$679$471$97
30 years$1,787$1,281$901$623$426$82
31 years$1,711$1,211$840$572$385$69
32 years$1,639$1,146$784$526$348$59
33 years$1,572$1,085$732$484$315$50
34 years$1,509$1,029$684$445$285$42
35 years$1,450$976$639$410$258$36
36 years$1,394$926$598$377$234$30
37 years$1,342$880$560$348$212$25
38 years$1,292$836$524$321$192$21
39 years$1,245$795$491$296$174$18
40 years$1,200$756$460$273$158$15
41 years$1,158$720$432$251$144$13
42 years$1,118$686$405$232$130$11
43 years$1,080$653$380$214$118$9
44 years$1,043$623$357$198$107$8
45 years$1,009$594$335$183$97$7
46 years$975$566$314$169$88$6
47 years$944$541$295$156$80$5
48 years$914$516$278$144$73$4
49 years$885$493$261$133$66$3
50 years$857$471$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 $878,000, adding $4,863 every year, while hoping to spend $56,863 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: 70/22/8 Blend
55$878,000$878,000$878,000$878,000
56$972,572$926,038$912,429$1,038,967
57$1,011,273$910,912$882,494$1,068,415
58$1,052,015$893,139$849,650$1,093,188
59$1,094,947$872,530$813,740$1,118,747
60$1,140,230$848,883$774,599$1,145,158
61$1,188,041$821,985$732,055$1,172,491
62$1,238,571$791,612$685,928$1,200,830
63$1,292,029$757,525$636,031$1,230,264
64$1,348,645$719,472$582,167$1,260,897
65$1,408,667$677,187$524,130$1,292,842
66$1,472,370$630,387$461,706$1,326,228
67$1,540,050$578,775$394,672$1,361,197
68$1,612,035$522,035$322,794$1,397,909
69$1,688,682$459,834$245,827$1,436,544
70$1,770,382$391,820$163,516$1,477,300
71$1,857,563$317,621$75,596$1,520,401
72$1,950,694$236,845$0$1,566,094
73$2,050,290$149,075$0$1,616,214
74$2,156,915$53,875$0$1,676,501
75$2,271,186$0$0$1,740,865
76$2,393,783$0$0$1,821,632
77$2,525,448$0$0$1,922,413
78$2,667,000$0$0$2,030,796
79$2,819,335$0$0$2,147,472
80$2,983,437$0$0$2,273,198
81$3,160,389$0$0$2,408,810
82$3,351,378$0$0$2,555,221
83$3,557,709$0$0$2,713,440
84$3,780,818$0$0$2,884,570
85$4,022,281$0$0$3,069,828
86$4,283,831$0$0$3,270,550
87$4,567,375$0$0$3,488,204
88$4,875,008$0$0$3,724,408
89$5,209,035$0$0$3,980,937
90$5,571,991$0$0$4,259,746
91$5,966,665$0$0$4,562,985
92$6,396,126$0$0$4,893,020
93$6,863,748$0$0$5,252,454
94$7,373,247$0$0$5,644,151
95$7,928,711$0$0$6,071,264
96$8,534,640$0$0$6,537,261
97$9,195,985$0$0$7,045,962
98$9,918,197$0$0$7,601,571
99$10,707,279$0$0$8,208,714
100$11,569,835$0$0$8,872,487