Can I retire at age 56 with 879,000?

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 $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%
1 years$72,587$71,940$71,310$70,694$70,093$68,370
2 years$35,934$35,265$34,616$33,987$33,377$31,653
3 years$23,718$23,046$22,399$21,776$21,176$19,503
4 years$17,611$16,941$16,301$15,688$15,103$13,495
5 years$13,948$13,282$12,650$12,050$11,481$9,942
6 years$11,507$10,846$10,223$9,637$9,085$7,616
7 years$9,764$9,108$8,495$7,923$7,388$5,990
8 years$8,457$7,808$7,205$6,646$6,129$4,801
9 years$7,441$6,798$6,206$5,661$5,162$3,903
10 years$6,629$5,992$5,410$4,880$4,398$3,207
11 years$5,965$5,334$4,763$4,247$3,782$2,657
12 years$5,412$4,788$4,227$3,725$3,278$2,216
13 years$4,945$4,327$3,777$3,289$2,858$1,859
14 years$4,544$3,933$3,393$2,919$2,506$1,566
15 years$4,197$3,593$3,064$2,604$2,206$1,323
16 years$3,894$3,296$2,778$2,331$1,950$1,122
17 years$3,627$3,036$2,528$2,095$1,729$954
18 years$3,390$2,805$2,307$1,888$1,537$813
19 years$3,178$2,600$2,112$1,706$1,370$693
20 years$2,987$2,416$1,939$1,545$1,224$593
21 years$2,815$2,250$1,783$1,402$1,095$507
22 years$2,659$2,101$1,643$1,275$982$434
23 years$2,516$1,965$1,517$1,161$881$372
24 years$2,386$1,841$1,403$1,059$792$320
25 years$2,266$1,727$1,300$967$713$274
26 years$2,156$1,624$1,205$884$642$236
27 years$2,054$1,528$1,119$809$579$203
28 years$1,959$1,440$1,041$742$522$174
29 years$1,871$1,358$968$680$472$150
30 years$1,789$1,283$902$624$426$129
31 years$1,713$1,213$841$573$385$111
32 years$1,641$1,147$785$527$348$96
33 years$1,574$1,087$733$484$315$82
34 years$1,511$1,030$684$446$286$71
35 years$1,452$977$640$410$259$61
36 years$1,396$927$599$378$234$53
37 years$1,343$881$560$348$212$45
38 years$1,294$837$525$321$193$39
39 years$1,246$796$492$296$175$34
40 years$1,202$757$461$273$158$29
41 years$1,159$721$432$252$144$25
42 years$1,119$686$405$232$130$22
43 years$1,081$654$380$214$118$19
44 years$1,044$623$357$198$107$16
45 years$1,010$594$335$183$97$14
46 years$977$567$315$169$89$12
47 years$945$541$296$156$80$10
48 years$915$517$278$144$73$9
49 years$886$493$261$133$66$8
50 years$858$471$246$123$60$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $879,000, adding $5,757 every year, while hoping to spend $30,190 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: 39/38/23 Blend
55$879,000$879,000$879,000$879,000
56$974,596$928,009$914,385$1,005,746
57$1,041,883$941,360$912,895$1,042,149
58$1,115,022$954,353$910,343$1,078,221
59$1,194,576$966,939$906,662$1,116,623
60$1,281,169$979,064$901,781$1,157,584
61$1,375,484$990,674$895,626$1,201,357
62$1,478,273$1,001,707$888,120$1,248,223
63$1,590,365$1,012,099$879,180$1,298,493
64$1,712,672$1,021,781$868,722$1,352,513
65$1,846,197$1,030,681$856,657$1,410,662
66$1,992,045$1,038,720$842,890$1,473,362
67$2,151,431$1,045,815$827,325$1,541,080
68$2,325,695$1,051,879$809,859$1,614,332
69$2,516,311$1,056,816$790,384$1,693,687
70$2,724,902$1,060,527$768,789$1,779,778
71$2,953,255$1,062,905$744,956$1,873,303
72$3,203,337$1,063,838$718,763$1,975,032
73$3,477,317$1,063,206$690,081$2,085,820
74$3,777,581$1,060,880$658,776$2,206,609
75$4,106,758$1,056,727$624,708$2,338,442
76$4,467,742$1,050,601$587,731$2,482,471
77$4,863,722$1,042,351$547,691$2,639,970
78$5,298,211$1,031,816$504,428$2,812,346
79$5,775,078$1,018,824$457,775$3,001,153
80$6,298,582$1,003,193$407,557$3,208,109
81$6,873,420$984,731$353,592$3,435,112
82$7,504,760$963,235$295,689$3,684,258
83$8,198,301$938,488$233,650$3,957,861
84$8,960,316$910,263$167,265$4,258,479
85$9,797,719$878,316$96,320$4,588,934
86$10,718,126$842,394$20,586$4,952,344
87$11,729,927$802,223$0$5,352,151
88$12,842,367$757,519$0$5,806,938
89$14,065,628$707,978$0$6,312,469
90$15,410,933$653,279$0$6,868,382
91$16,890,643$593,085$0$7,479,853
92$18,518,379$527,036$0$8,152,595
93$20,309,148$454,755$0$8,892,905
94$22,279,485$375,842$0$9,707,730
95$24,447,609$289,875$0$10,604,731
96$26,833,593$196,407$0$11,592,357
97$29,459,556$94,968$0$12,679,926
98$32,349,869$0$0$13,877,712
99$35,531,385$0$0$15,203,295
100$39,033,693$0$0$16,706,395