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%
1 years$72,587$71,940$71,310$70,694$70,093$69,797
2 years$35,934$35,265$34,616$33,987$33,377$33,079
3 years$23,718$23,046$22,399$21,776$21,176$20,884
4 years$17,611$16,941$16,301$15,688$15,103$14,820
5 years$13,948$13,282$12,650$12,050$11,481$11,207
6 years$11,507$10,846$10,223$9,637$9,085$8,821
7 years$9,764$9,108$8,495$7,923$7,388$7,134
8 years$8,457$7,808$7,205$6,646$6,129$5,885
9 years$7,441$6,798$6,206$5,661$5,162$4,928
10 years$6,629$5,992$5,410$4,880$4,398$4,174
11 years$5,965$5,334$4,763$4,247$3,782$3,568
12 years$5,412$4,788$4,227$3,725$3,278$3,073
13 years$4,945$4,327$3,777$3,289$2,858$2,663
14 years$4,544$3,933$3,393$2,919$2,506$2,319
15 years$4,197$3,593$3,064$2,604$2,206$2,029
16 years$3,894$3,296$2,778$2,331$1,950$1,781
17 years$3,627$3,036$2,528$2,095$1,729$1,568
18 years$3,390$2,805$2,307$1,888$1,537$1,385
19 years$3,178$2,600$2,112$1,706$1,370$1,226
20 years$2,987$2,416$1,939$1,545$1,224$1,087
21 years$2,815$2,250$1,783$1,402$1,095$966
22 years$2,659$2,101$1,643$1,275$982$859
23 years$2,516$1,965$1,517$1,161$881$766
24 years$2,386$1,841$1,403$1,059$792$683
25 years$2,266$1,727$1,300$967$713$610
26 years$2,156$1,624$1,205$884$642$545
27 years$2,054$1,528$1,119$809$579$488
28 years$1,959$1,440$1,041$742$522$437
29 years$1,871$1,358$968$680$472$391
30 years$1,789$1,283$902$624$426$351
31 years$1,713$1,213$841$573$385$315
32 years$1,641$1,147$785$527$348$282
33 years$1,574$1,087$733$484$315$253
34 years$1,511$1,030$684$446$286$227
35 years$1,452$977$640$410$259$204
36 years$1,396$927$599$378$234$184
37 years$1,343$881$560$348$212$165
38 years$1,294$837$525$321$193$148
39 years$1,246$796$492$296$175$133
40 years$1,202$757$461$273$158$120
41 years$1,159$721$432$252$144$108
42 years$1,119$686$405$232$130$97
43 years$1,081$654$380$214$118$87
44 years$1,044$623$357$198$107$79
45 years$1,010$594$335$183$97$71
46 years$977$567$315$169$89$64
47 years$945$541$296$156$80$57
48 years$915$517$278$144$73$52
49 years$886$493$261$133$66$46
50 years$858$471$246$123$60$42

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $879,000, adding $5,644 every year, while hoping to spend $58,724 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: 78/17/5 Blend
55$879,000$879,000$879,000$879,000
56$974,480$927,893$914,268$1,049,818
57$1,011,395$910,878$882,414$1,082,986
58$1,050,107$891,061$847,525$1,111,101
59$1,090,738$868,242$809,437$1,140,170
60$1,133,419$842,212$767,979$1,170,260
61$1,178,293$812,746$722,972$1,201,445
62$1,225,516$779,608$674,229$1,233,808
63$1,275,258$742,548$621,554$1,267,439
64$1,327,703$701,301$564,745$1,302,439
65$1,383,051$655,587$503,587$1,338,921
66$1,441,523$605,112$437,857$1,377,009
67$1,503,357$549,561$367,324$1,416,841
68$1,568,814$488,604$291,745$1,458,570
69$1,638,180$421,892$210,864$1,502,366
70$1,711,765$349,056$124,419$1,548,416
71$1,789,910$269,705$32,133$1,596,931
72$1,872,988$183,427$0$1,648,142
73$1,961,406$89,788$0$1,705,846
74$2,055,609$0$0$1,768,849
75$2,156,087$0$0$1,837,951
76$2,263,374$0$0$1,929,687
77$2,378,056$0$0$2,027,765
78$2,500,776$0$0$2,132,737
79$2,632,239$0$0$2,245,206
80$2,773,216$0$0$2,365,838
81$2,924,557$0$0$2,495,361
82$3,087,192$0$0$2,634,573
83$3,262,141$0$0$2,784,352
84$3,450,527$0$0$2,945,663
85$3,653,582$0$0$3,119,561
86$3,872,658$0$0$3,307,212
87$4,109,241$0$0$3,509,890
88$4,364,966$0$0$3,728,999
89$4,641,626$0$0$3,966,083
90$4,941,196$0$0$4,222,836
91$5,265,846$0$0$4,501,122
92$5,617,960$0$0$4,802,992
93$6,000,162$0$0$5,130,699
94$6,415,337$0$0$5,486,723
95$6,866,660$0$0$5,873,791
96$7,357,622$0$0$6,294,904
97$7,892,065$0$0$6,753,363
98$8,474,215$0$0$7,252,801
99$9,108,726$0$0$7,797,215
100$9,800,717$0$0$8,391,006