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%11.3%
1 years$72,587$71,940$71,310$70,694$70,093$69,709
2 years$35,934$35,265$34,616$33,987$33,377$32,991
3 years$23,718$23,046$22,399$21,776$21,176$20,798
4 years$17,611$16,941$16,301$15,688$15,103$14,736
5 years$13,948$13,282$12,650$12,050$11,481$11,127
6 years$11,507$10,846$10,223$9,637$9,085$8,743
7 years$9,764$9,108$8,495$7,923$7,388$7,060
8 years$8,457$7,808$7,205$6,646$6,129$5,814
9 years$7,441$6,798$6,206$5,661$5,162$4,860
10 years$6,629$5,992$5,410$4,880$4,398$4,109
11 years$5,965$5,334$4,763$4,247$3,782$3,506
12 years$5,412$4,788$4,227$3,725$3,278$3,014
13 years$4,945$4,327$3,777$3,289$2,858$2,607
14 years$4,544$3,933$3,393$2,919$2,506$2,266
15 years$4,197$3,593$3,064$2,604$2,206$1,978
16 years$3,894$3,296$2,778$2,331$1,950$1,733
17 years$3,627$3,036$2,528$2,095$1,729$1,523
18 years$3,390$2,805$2,307$1,888$1,537$1,342
19 years$3,178$2,600$2,112$1,706$1,370$1,185
20 years$2,987$2,416$1,939$1,545$1,224$1,049
21 years$2,815$2,250$1,783$1,402$1,095$930
22 years$2,659$2,101$1,643$1,275$982$826
23 years$2,516$1,965$1,517$1,161$881$734
24 years$2,386$1,841$1,403$1,059$792$653
25 years$2,266$1,727$1,300$967$713$582
26 years$2,156$1,624$1,205$884$642$519
27 years$2,054$1,528$1,119$809$579$463
28 years$1,959$1,440$1,041$742$522$414
29 years$1,871$1,358$968$680$472$370
30 years$1,789$1,283$902$624$426$331
31 years$1,713$1,213$841$573$385$296
32 years$1,641$1,147$785$527$348$265
33 years$1,574$1,087$733$484$315$237
34 years$1,511$1,030$684$446$286$212
35 years$1,452$977$640$410$259$190
36 years$1,396$927$599$378$234$171
37 years$1,343$881$560$348$212$153
38 years$1,294$837$525$321$193$137
39 years$1,246$796$492$296$175$123
40 years$1,202$757$461$273$158$110
41 years$1,159$721$432$252$144$99
42 years$1,119$686$405$232$130$89
43 years$1,081$654$380$214$118$80
44 years$1,044$623$357$198$107$72
45 years$1,010$594$335$183$97$64
46 years$977$567$315$169$89$58
47 years$945$541$296$156$80$52
48 years$915$517$278$144$73$46
49 years$886$493$261$133$66$42
50 years$858$471$246$123$60$37

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $879,000, adding $2,101 every year, while hoping to spend $51,958 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: 69/8/23 Blend
55$879,000$879,000$879,000$879,000
56$970,825$924,238$910,614$1,032,038
57$1,014,566$914,243$885,836$1,063,280
58$1,061,028$902,017$858,488$1,091,225
59$1,110,432$887,395$828,426$1,120,565
60$1,163,023$870,204$795,505$1,151,438
61$1,219,066$850,259$759,570$1,183,993
62$1,278,855$827,366$720,459$1,218,399
63$1,342,709$801,317$678,005$1,254,841
64$1,410,978$771,894$632,031$1,293,526
65$1,484,047$738,866$582,353$1,334,684
66$1,562,337$701,988$528,780$1,378,567
67$1,646,311$661,001$471,109$1,425,460
68$1,736,475$615,631$409,132$1,475,674
69$1,833,387$565,588$342,629$1,529,557
70$1,937,657$510,566$271,372$1,587,494
71$2,049,957$450,243$195,121$1,649,910
72$2,171,022$384,275$113,628$1,717,279
73$2,301,664$312,302$26,632$1,790,125
74$2,442,771$233,941$0$1,869,026
75$2,595,320$148,791$0$1,970,873
76$2,760,386$56,425$0$2,088,161
77$2,939,150$0$0$2,215,206
78$3,132,909$0$0$2,356,794
79$3,343,092$0$0$2,515,812
80$3,571,268$0$0$2,688,487
81$3,819,164$0$0$2,876,131
82$4,088,680$0$0$3,080,187
83$4,381,906$0$0$3,302,244
84$4,701,140$0$0$3,544,048
85$5,048,912$0$0$3,807,524
86$5,428,008$0$0$4,094,786
87$5,841,490$0$0$4,408,164
88$6,292,733$0$0$4,750,222
89$6,785,447$0$0$5,123,781
90$7,323,721$0$0$5,531,947
91$7,912,052$0$0$5,978,141
92$8,555,395$0$0$6,466,128
93$9,259,202$0$0$7,000,054
94$10,029,479$0$0$7,584,482
95$10,872,838$0$0$8,224,441
96$11,796,561$0$0$8,925,466
97$12,808,666$0$0$9,693,652
98$13,917,985$0$0$10,535,713
99$15,134,244$0$0$11,459,044
100$16,468,155$0$0$12,471,788