Can I retire at age 56 with 878,000?

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 $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%19.6%
1 years$72,504$71,859$71,228$70,613$70,013$67,315
2 years$35,893$35,225$34,577$33,949$33,340$30,653
3 years$23,691$23,020$22,374$21,751$21,152$18,562
4 years$17,591$16,922$16,282$15,671$15,086$12,612
5 years$13,932$13,267$12,636$12,037$11,468$9,117
6 years$11,494$10,834$10,212$9,626$9,074$6,848
7 years$9,753$9,098$8,486$7,914$7,380$5,277
8 years$8,447$7,799$7,197$6,639$6,122$4,141
9 years$7,433$6,790$6,198$5,655$5,156$3,293
10 years$6,622$5,985$5,404$4,874$4,393$2,645
11 years$5,958$5,328$4,758$4,242$3,778$2,141
12 years$5,406$4,782$4,222$3,721$3,274$1,744
13 years$4,939$4,322$3,772$3,285$2,855$1,427
14 years$4,539$3,928$3,389$2,916$2,503$1,172
15 years$4,193$3,589$3,060$2,601$2,204$966
16 years$3,890$3,293$2,775$2,329$1,948$798
17 years$3,623$3,032$2,525$2,092$1,727$661
18 years$3,386$2,802$2,305$1,886$1,535$548
19 years$3,174$2,597$2,110$1,704$1,369$455
20 years$2,984$2,413$1,936$1,543$1,222$378
21 years$2,812$2,248$1,781$1,400$1,094$315
22 years$2,656$2,098$1,642$1,273$981$262
23 years$2,514$1,962$1,516$1,160$880$219
24 years$2,383$1,839$1,402$1,058$791$182
25 years$2,264$1,725$1,298$966$712$152
26 years$2,153$1,622$1,204$883$641$127
27 years$2,051$1,526$1,118$808$578$106
28 years$1,957$1,438$1,039$741$522$88
29 years$1,869$1,357$967$679$471$74
30 years$1,787$1,281$901$623$426$62
31 years$1,711$1,211$840$572$385$52
32 years$1,639$1,146$784$526$348$43
33 years$1,572$1,085$732$484$315$36
34 years$1,509$1,029$684$445$285$30
35 years$1,450$976$639$410$258$25
36 years$1,394$926$598$377$234$21
37 years$1,342$880$560$348$212$18
38 years$1,292$836$524$321$192$15
39 years$1,245$795$491$296$174$12
40 years$1,200$756$460$273$158$10
41 years$1,158$720$432$251$144$9
42 years$1,118$686$405$232$130$7
43 years$1,080$653$380$214$118$6
44 years$1,043$623$357$198$107$5
45 years$1,009$594$335$183$97$4
46 years$975$566$314$169$88$4
47 years$944$541$295$156$80$3
48 years$914$516$278$144$73$2
49 years$885$493$261$133$66$2
50 years$857$471$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 $878,000, adding $5,501 every year, while hoping to spend $37,717 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: 67/11/22 Blend
55$878,000$878,000$878,000$878,000
56$973,230$926,696$913,087$1,032,655
57$1,032,369$931,974$903,545$1,078,474
58$1,096,276$936,246$892,419$1,123,724
59$1,165,398$939,423$879,617$1,172,321
60$1,240,225$941,411$865,040$1,224,593
61$1,321,296$942,109$848,588$1,280,904
62$1,409,207$941,411$830,153$1,341,655
63$1,504,607$939,202$809,625$1,407,291
64$1,608,216$935,362$786,887$1,478,300
65$1,720,823$929,763$761,816$1,555,223
66$1,843,295$922,269$734,285$1,638,656
67$1,976,589$912,738$704,161$1,729,258
68$2,121,754$901,016$671,304$1,827,756
69$2,279,949$886,941$635,568$1,934,952
70$2,452,445$870,342$596,801$2,051,732
71$2,640,643$851,038$554,843$2,179,073
72$2,846,087$828,837$509,529$2,318,053
73$3,070,473$803,536$460,683$2,469,864
74$3,315,670$774,918$408,125$2,635,819
75$3,583,736$742,756$351,664$2,817,368
76$3,876,935$706,809$291,103$3,016,109
77$4,197,761$666,821$226,234$3,233,810
78$4,548,961$622,524$156,841$3,472,417
79$4,933,559$573,632$82,699$3,734,078
80$5,354,885$519,843$3,573$4,021,165
81$5,816,607$460,838$0$4,336,293
82$6,322,763$396,282$0$4,701,330
83$6,877,802$325,817$0$5,102,606
84$7,486,624$249,068$0$5,542,853
85$8,154,626$165,638$0$6,026,011
86$8,887,751$75,107$0$6,556,419
87$9,692,547$0$0$7,138,861
88$10,576,227$0$0$7,781,388
89$11,546,737$0$0$8,497,089
90$12,612,828$0$0$9,283,334
91$13,784,142$0$0$10,147,242
92$15,071,302$0$0$11,096,654
93$16,486,009$0$0$12,140,210
94$18,041,156$0$0$13,287,427
95$19,750,945$0$0$14,548,790
96$21,631,025$0$0$15,935,854
97$23,698,636$0$0$17,461,345
98$25,972,772$0$0$19,139,287
99$28,474,362$0$0$20,985,131
100$31,226,464$0$0$23,015,901