Can I retire at age 56 with 883,000?

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 $883,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.8%
1 years$72,917$72,268$71,634$71,016$70,412$69,880
2 years$36,098$35,425$34,774$34,142$33,529$32,993
3 years$23,826$23,151$22,501$21,875$21,272$20,749
4 years$17,691$17,018$16,375$15,760$15,172$14,664
5 years$14,012$13,343$12,708$12,105$11,533$11,044
6 years$11,559$10,895$10,270$9,681$9,126$8,655
7 years$9,808$9,150$8,534$7,959$7,422$6,969
8 years$8,496$7,843$7,238$6,677$6,157$5,723
9 years$7,475$6,829$6,234$5,687$5,185$4,770
10 years$6,659$6,019$5,435$4,902$4,418$4,021
11 years$5,992$5,359$4,785$4,266$3,800$3,420
12 years$5,437$4,810$4,246$3,742$3,293$2,931
13 years$4,967$4,346$3,794$3,304$2,871$2,527
14 years$4,565$3,951$3,409$2,933$2,517$2,189
15 years$4,216$3,609$3,078$2,615$2,216$1,905
16 years$3,912$3,311$2,790$2,342$1,959$1,663
17 years$3,644$3,050$2,539$2,104$1,737$1,457
18 years$3,405$2,818$2,318$1,896$1,544$1,279
19 years$3,192$2,612$2,122$1,713$1,376$1,126
20 years$3,001$2,427$1,947$1,552$1,229$993
21 years$2,828$2,261$1,791$1,408$1,100$877
22 years$2,671$2,110$1,651$1,281$986$775
23 years$2,528$1,974$1,524$1,166$885$687
24 years$2,397$1,849$1,410$1,064$796$609
25 years$2,277$1,735$1,306$971$716$540
26 years$2,166$1,631$1,211$888$645$480
27 years$2,063$1,535$1,124$813$581$427
28 years$1,968$1,446$1,045$745$525$380
29 years$1,880$1,364$973$683$474$338
30 years$1,797$1,289$906$627$428$301
31 years$1,721$1,218$845$576$387$268
32 years$1,649$1,153$788$529$350$239
33 years$1,581$1,092$736$487$317$213
34 years$1,518$1,034$688$448$287$190
35 years$1,459$981$643$412$260$170
36 years$1,402$931$601$380$235$151
37 years$1,349$885$563$350$213$135
38 years$1,299$841$527$322$193$121
39 years$1,252$799$494$297$175$108
40 years$1,207$761$463$274$159$96
41 years$1,165$724$434$253$144$86
42 years$1,124$689$407$233$131$77
43 years$1,086$657$382$215$119$69
44 years$1,049$626$359$199$108$61
45 years$1,014$597$337$184$98$55
46 years$981$570$316$170$89$49
47 years$949$544$297$157$81$44
48 years$919$519$279$145$73$39
49 years$890$496$262$134$67$35
50 years$862$473$247$124$60$31

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $883,000, adding $2,360 every year, while hoping to spend $40,145 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: 83/11/6 Blend
55$883,000$883,000$883,000$883,000
56$975,500$928,701$915,015$1,055,930
57$1,032,287$931,494$902,954$1,111,601
58$1,093,521$933,077$889,143$1,167,060
59$1,159,613$933,351$873,482$1,226,700
60$1,231,015$932,206$855,865$1,290,915
61$1,308,223$929,529$836,181$1,360,140
62$1,391,782$925,197$814,314$1,434,854
63$1,482,294$919,081$790,144$1,515,581
64$1,580,418$911,046$763,543$1,602,903
65$1,686,878$900,945$734,379$1,697,458
66$1,802,473$888,624$702,514$1,799,949
67$1,928,079$873,921$667,803$1,911,151
68$2,064,663$856,663$630,094$2,031,918
69$2,213,286$836,667$589,229$2,163,191
70$2,375,116$813,739$545,044$2,306,004
71$2,551,440$787,673$497,364$2,461,501
72$2,743,671$758,254$446,010$2,630,940
73$2,953,367$725,250$390,794$2,815,706
74$3,182,243$688,419$331,517$3,017,327
75$3,432,184$647,504$267,975$3,237,486
76$3,705,268$602,233$199,953$3,478,040
77$4,003,781$552,318$127,227$3,741,031
78$4,330,240$497,455$49,563$4,028,714
79$4,687,417$437,323$0$4,343,572
80$5,078,365$371,583$0$4,690,473
81$5,506,443$299,876$0$5,073,828
82$5,975,353$221,822$0$5,493,800
83$6,489,170$137,023$0$5,954,071
84$7,052,383$45,055$0$6,458,697
85$7,669,936$0$0$7,012,150
86$8,347,272$0$0$7,625,955
87$9,090,389$0$0$8,305,373
88$9,905,893$0$0$9,050,990
89$10,801,059$0$0$9,869,462
90$11,783,901$0$0$10,768,119
91$12,863,250$0$0$11,755,037
92$14,048,830$0$0$12,839,110
93$15,351,355$0$0$14,030,137
94$16,782,628$0$0$15,338,915
95$18,355,653$0$0$16,777,336
96$20,084,753$0$0$18,358,502
97$21,985,712$0$0$20,096,848
98$24,075,917$0$0$22,008,278
99$26,374,524$0$0$24,110,312
100$28,902,639$0$0$26,422,255