Can I retire at age 56 with 879,000?

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 $879,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.9%
1 years$72,587$71,940$71,310$70,694$70,093$68,122
2 years$35,934$35,265$34,616$33,987$33,377$31,407
3 years$23,718$23,046$22,399$21,776$21,176$19,268
4 years$17,611$16,941$16,301$15,688$15,103$13,271
5 years$13,948$13,282$12,650$12,050$11,481$9,731
6 years$11,507$10,846$10,223$9,637$9,085$7,418
7 years$9,764$9,108$8,495$7,923$7,388$5,805
8 years$8,457$7,808$7,205$6,646$6,129$4,628
9 years$7,441$6,798$6,206$5,661$5,162$3,742
10 years$6,629$5,992$5,410$4,880$4,398$3,057
11 years$5,965$5,334$4,763$4,247$3,782$2,518
12 years$5,412$4,788$4,227$3,725$3,278$2,088
13 years$4,945$4,327$3,777$3,289$2,858$1,741
14 years$4,544$3,933$3,393$2,919$2,506$1,457
15 years$4,197$3,593$3,064$2,604$2,206$1,224
16 years$3,894$3,296$2,778$2,331$1,950$1,031
17 years$3,627$3,036$2,528$2,095$1,729$871
18 years$3,390$2,805$2,307$1,888$1,537$737
19 years$3,178$2,600$2,112$1,706$1,370$625
20 years$2,987$2,416$1,939$1,545$1,224$530
21 years$2,815$2,250$1,783$1,402$1,095$451
22 years$2,659$2,101$1,643$1,275$982$383
23 years$2,516$1,965$1,517$1,161$881$326
24 years$2,386$1,841$1,403$1,059$792$278
25 years$2,266$1,727$1,300$967$713$237
26 years$2,156$1,624$1,205$884$642$202
27 years$2,054$1,528$1,119$809$579$172
28 years$1,959$1,440$1,041$742$522$147
29 years$1,871$1,358$968$680$472$126
30 years$1,789$1,283$902$624$426$107
31 years$1,713$1,213$841$573$385$92
32 years$1,641$1,147$785$527$348$78
33 years$1,574$1,087$733$484$315$67
34 years$1,511$1,030$684$446$286$57
35 years$1,452$977$640$410$259$49
36 years$1,396$927$599$378$234$42
37 years$1,343$881$560$348$212$36
38 years$1,294$837$525$321$193$31
39 years$1,246$796$492$296$175$26
40 years$1,202$757$461$273$158$22
41 years$1,159$721$432$252$144$19
42 years$1,119$686$405$232$130$16
43 years$1,081$654$380$214$118$14
44 years$1,044$623$357$198$107$12
45 years$1,010$594$335$183$97$10
46 years$977$567$315$169$89$9
47 years$945$541$296$156$80$7
48 years$915$517$278$144$73$6
49 years$886$493$261$133$66$5
50 years$858$471$246$123$60$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $879,000, adding $6,615 every year, while hoping to spend $47,881 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: 55/20/25 Blend
55$879,000$879,000$879,000$879,000
56$975,481$928,894$915,270$1,022,097
57$1,024,035$923,465$894,986$1,049,437
58$1,075,937$916,165$872,419$1,073,651
59$1,131,478$906,852$847,440$1,099,030
60$1,190,976$895,375$819,916$1,125,699
61$1,254,782$881,575$789,710$1,153,803
62$1,323,279$865,282$756,674$1,183,500
63$1,396,889$846,316$720,658$1,214,969
64$1,476,074$824,488$681,503$1,248,411
65$1,561,342$799,597$639,042$1,284,047
66$1,653,251$771,429$593,102$1,322,126
67$1,752,413$739,759$543,501$1,362,926
68$1,859,502$704,350$490,051$1,406,756
69$1,975,256$664,948$432,553$1,453,960
70$2,100,489$621,287$370,800$1,504,921
71$2,236,094$573,085$304,577$1,560,066
72$2,383,053$520,044$233,658$1,619,870
73$2,542,447$461,849$157,808$1,684,862
74$2,715,463$398,166$76,781$1,755,626
75$2,903,408$328,643$0$1,832,817
76$3,107,718$252,910$0$1,919,741
77$3,329,976$170,573$0$2,036,645
78$3,571,920$81,217$0$2,163,991
79$3,835,464$0$0$2,302,847
80$4,122,715$0$0$2,457,825
81$4,435,990$0$0$2,646,411
82$4,777,841$0$0$2,852,276
83$5,151,077$0$0$3,077,122
84$5,558,788$0$0$3,322,820
85$6,004,378$0$0$3,591,432
86$6,491,595$0$0$3,885,227
87$7,024,562$0$0$4,206,705
88$7,607,824$0$0$4,558,617
89$8,246,380$0$0$4,943,993
90$8,945,740$0$0$5,366,170
91$9,711,969$0$0$5,828,822
92$10,551,747$0$0$6,335,997
93$11,472,431$0$0$6,892,152
94$12,482,124$0$0$7,502,196
95$13,589,749$0$0$8,171,536
96$14,805,137$0$0$8,906,129
97$16,139,116$0$0$9,712,535
98$17,603,612$0$0$10,597,980
99$19,211,763$0$0$11,570,426
100$20,978,042$0$0$12,638,642