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%18.8%
1 years$72,504$71,859$71,228$70,613$70,013$67,529
2 years$35,893$35,225$34,577$33,949$33,340$30,863
3 years$23,691$23,020$22,374$21,751$21,152$18,761
4 years$17,591$16,922$16,282$15,671$15,086$12,799
5 years$13,932$13,267$12,636$12,037$11,468$9,291
6 years$11,494$10,834$10,212$9,626$9,074$7,009
7 years$9,753$9,098$8,486$7,914$7,380$5,426
8 years$8,447$7,799$7,197$6,639$6,122$4,278
9 years$7,433$6,790$6,198$5,655$5,156$3,419
10 years$6,622$5,985$5,404$4,874$4,393$2,760
11 years$5,958$5,328$4,758$4,242$3,778$2,246
12 years$5,406$4,782$4,222$3,721$3,274$1,839
13 years$4,939$4,322$3,772$3,285$2,855$1,513
14 years$4,539$3,928$3,389$2,916$2,503$1,250
15 years$4,193$3,589$3,060$2,601$2,204$1,036
16 years$3,890$3,293$2,775$2,329$1,948$861
17 years$3,623$3,032$2,525$2,092$1,727$717
18 years$3,386$2,802$2,305$1,886$1,535$598
19 years$3,174$2,597$2,110$1,704$1,369$500
20 years$2,984$2,413$1,936$1,543$1,222$418
21 years$2,812$2,248$1,781$1,400$1,094$350
22 years$2,656$2,098$1,642$1,273$981$294
23 years$2,514$1,962$1,516$1,160$880$246
24 years$2,383$1,839$1,402$1,058$791$207
25 years$2,264$1,725$1,298$966$712$173
26 years$2,153$1,622$1,204$883$641$146
27 years$2,051$1,526$1,118$808$578$122
28 years$1,957$1,438$1,039$741$522$103
29 years$1,869$1,357$967$679$471$86
30 years$1,787$1,281$901$623$426$73
31 years$1,711$1,211$840$572$385$61
32 years$1,639$1,146$784$526$348$51
33 years$1,572$1,085$732$484$315$43
34 years$1,509$1,029$684$445$285$36
35 years$1,450$976$639$410$258$31
36 years$1,394$926$598$377$234$26
37 years$1,342$880$560$348$212$22
38 years$1,292$836$524$321$192$18
39 years$1,245$795$491$296$174$15
40 years$1,200$756$460$273$158$13
41 years$1,158$720$432$251$144$11
42 years$1,118$686$405$232$130$9
43 years$1,080$653$380$214$118$8
44 years$1,043$623$357$198$107$6
45 years$1,009$594$335$183$97$5
46 years$975$566$314$169$88$5
47 years$944$541$295$156$80$4
48 years$914$516$278$144$73$3
49 years$885$493$261$133$66$3
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 $5,082 every year, while hoping to spend $49,951 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: 46/27/27 Blend
55$878,000$878,000$878,000$878,000
56$972,798$926,264$912,655$1,009,786
57$1,018,876$918,504$890,082$1,028,687
58$1,067,980$908,689$865,078$1,043,937
59$1,120,365$896,666$837,509$1,059,514
60$1,176,313$882,273$807,236$1,075,474
61$1,236,129$865,337$774,111$1,091,883
62$1,300,152$845,676$737,982$1,108,818
63$1,368,750$823,097$698,687$1,126,367
64$1,442,329$797,394$656,059$1,144,630
65$1,521,332$768,353$609,923$1,163,723
66$1,606,249$735,742$560,095$1,183,777
67$1,697,613$699,321$506,386$1,204,942
68$1,796,014$658,832$448,594$1,227,387
69$1,902,097$614,004$386,511$1,251,305
70$2,016,571$564,551$319,920$1,276,914
71$2,140,217$510,169$248,592$1,304,459
72$2,273,889$450,538$172,291$1,334,219
73$2,418,531$385,319$90,767$1,366,504
74$2,575,176$314,155$3,763$1,401,667
75$2,744,963$236,667$0$1,440,102
76$2,929,142$152,457$0$1,507,916
77$3,129,089$61,102$0$1,582,765
78$3,346,318$0$0$1,664,206
79$3,582,493$0$0$1,764,191
80$3,839,446$0$0$1,892,812
81$4,119,192$0$0$2,032,936
82$4,423,948$0$0$2,185,685
83$4,756,153$0$0$2,352,294
84$5,118,494$0$0$2,534,123
85$5,513,925$0$0$2,732,668
86$5,945,702$0$0$2,949,577
87$6,417,403$0$0$3,186,663
88$6,932,974$0$0$3,445,923
89$7,496,754$0$0$3,729,555
90$8,113,524$0$0$4,039,981
91$8,788,544$0$0$4,379,865
92$9,527,612$0$0$4,752,144
93$10,337,107$0$0$5,160,049
94$11,224,058$0$0$5,607,141
95$12,196,203$0$0$6,097,340
96$13,262,067$0$0$6,634,966
97$14,431,038$0$0$7,224,773
98$15,713,455$0$0$7,872,002
99$17,120,708$0$0$8,582,422
100$18,665,341$0$0$9,362,391