Can I retire at age 56 with 886,000?

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 $886,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.1%
1 years$73,165$72,513$71,877$71,257$70,651$69,168
2 years$36,220$35,546$34,892$34,258$33,643$32,156
3 years$23,907$23,230$22,577$21,950$21,345$19,900
4 years$17,752$17,076$16,431$15,813$15,223$13,832
5 years$14,059$13,388$12,751$12,146$11,572$10,238
6 years$11,599$10,932$10,305$9,713$9,157$7,882
7 years$9,842$9,181$8,563$7,986$7,447$6,231
8 years$8,524$7,870$7,262$6,699$6,178$5,020
9 years$7,501$6,852$6,255$5,706$5,203$4,103
10 years$6,682$6,040$5,453$4,919$4,433$3,390
11 years$6,013$5,377$4,801$4,281$3,813$2,825
12 years$5,455$4,826$4,261$3,755$3,304$2,370
13 years$4,984$4,361$3,807$3,315$2,881$2,000
14 years$4,580$3,964$3,420$2,943$2,526$1,695
15 years$4,231$3,621$3,088$2,624$2,224$1,442
16 years$3,925$3,323$2,800$2,350$1,965$1,230
17 years$3,656$3,060$2,548$2,111$1,743$1,053
18 years$3,417$2,828$2,326$1,903$1,549$903
19 years$3,203$2,621$2,129$1,719$1,381$775
20 years$3,011$2,435$1,954$1,557$1,234$667
21 years$2,838$2,268$1,797$1,413$1,104$575
22 years$2,680$2,117$1,656$1,285$989$496
23 years$2,536$1,980$1,529$1,170$888$428
24 years$2,405$1,855$1,414$1,067$798$370
25 years$2,284$1,741$1,310$975$718$320
26 years$2,173$1,636$1,215$891$647$277
27 years$2,070$1,540$1,128$816$583$240
28 years$1,975$1,451$1,049$747$526$208
29 years$1,886$1,369$976$685$475$180
30 years$1,804$1,293$909$629$430$156
31 years$1,726$1,222$848$578$388$135
32 years$1,654$1,156$791$531$351$117
33 years$1,587$1,095$738$488$318$102
34 years$1,523$1,038$690$449$288$88
35 years$1,463$985$645$414$261$77
36 years$1,407$934$603$381$236$67
37 years$1,354$888$565$351$214$58
38 years$1,304$843$529$323$194$50
39 years$1,256$802$496$298$176$44
40 years$1,211$763$464$275$160$38
41 years$1,169$726$435$254$145$33
42 years$1,128$692$409$234$131$29
43 years$1,089$659$383$216$119$25
44 years$1,053$628$360$200$108$22
45 years$1,018$599$338$184$98$19
46 years$984$572$317$170$89$16
47 years$952$545$298$157$81$14
48 years$922$521$280$145$74$12
49 years$893$497$263$134$67$11
50 years$865$475$248$124$61$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $886,000, adding $2,578 every year, while hoping to spend $29,778 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: 51/20/29 Blend
55$886,000$886,000$886,000$886,000
56$979,031$932,073$918,340$1,020,834
57$1,047,209$946,061$917,421$1,064,267
58$1,121,343$959,737$915,473$1,108,289
59$1,202,008$973,053$912,430$1,155,580
60$1,289,840$985,959$908,224$1,206,466
61$1,385,536$998,403$902,781$1,261,307
62$1,489,862$1,010,327$896,026$1,320,498
63$1,603,665$1,021,669$887,879$1,384,478
64$1,727,873$1,032,365$878,257$1,453,732
65$1,863,510$1,042,345$867,073$1,528,793
66$2,011,703$1,051,535$854,235$1,610,253
67$2,173,692$1,059,856$839,648$1,698,762
68$2,350,844$1,067,224$823,211$1,795,041
69$2,544,661$1,073,549$804,820$1,899,886
70$2,756,799$1,078,736$784,364$2,014,173
71$2,989,082$1,082,683$761,730$2,138,872
72$3,243,517$1,085,283$736,796$2,275,052
73$3,522,316$1,086,422$709,438$2,423,895
74$3,827,912$1,085,977$679,525$2,586,705
75$4,162,988$1,083,819$646,918$2,764,920
76$4,530,498$1,079,811$611,475$2,960,129
77$4,933,695$1,073,808$573,045$3,174,085
78$5,376,162$1,065,654$531,473$3,408,722
79$5,861,846$1,055,187$486,593$3,666,177
80$6,395,096$1,042,233$438,235$3,948,804
81$6,980,701$1,026,607$386,221$4,259,203
82$7,623,936$1,008,115$330,363$4,600,243
83$8,330,614$986,549$270,467$4,975,089
84$9,107,138$961,691$206,329$5,387,233
85$9,960,562$933,310$137,736$5,840,526
86$10,898,656$901,159$64,468$6,339,219
87$11,929,983$864,980$0$6,888,000
88$13,063,974$824,497$0$7,496,286
89$14,311,023$779,420$0$8,187,099
90$15,682,577$729,442$0$8,946,841
91$17,191,253$674,238$0$9,782,531
92$18,850,950$613,464$0$10,701,909
93$20,676,980$546,757$0$11,713,505
94$22,686,217$473,733$0$12,826,721
95$24,897,252$393,987$0$14,051,919
96$27,330,569$307,090$0$15,400,521
97$30,008,739$212,589$0$16,885,116
98$32,956,632$110,008$0$18,519,582
99$36,201,651$0$0$20,319,212
100$39,773,990$0$0$22,301,120