Can I retire at age 56 with 887,000?

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 $887,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.1%
1 years$73,248$72,595$71,959$71,337$70,731$68,140
2 years$36,261$35,586$34,931$34,297$33,681$31,100
3 years$23,934$23,256$22,603$21,974$21,369$18,878
4 years$17,772$17,095$16,449$15,831$15,240$12,859
5 years$14,075$13,403$12,765$12,160$11,585$9,320
6 years$11,612$10,945$10,316$9,724$9,167$7,019
7 years$9,853$9,191$8,573$7,995$7,455$5,424
8 years$8,534$7,879$7,270$6,707$6,185$4,269
9 years$7,509$6,860$6,262$5,713$5,209$3,405
10 years$6,689$6,047$5,459$4,924$4,438$2,744
11 years$6,019$5,383$4,806$4,286$3,817$2,229
12 years$5,461$4,831$4,265$3,759$3,308$1,821
13 years$4,990$4,366$3,811$3,319$2,884$1,496
14 years$4,585$3,969$3,424$2,946$2,528$1,233
15 years$4,236$3,625$3,092$2,627$2,226$1,020
16 years$3,930$3,326$2,803$2,352$1,967$846
17 years$3,660$3,063$2,551$2,114$1,745$703
18 years$3,421$2,831$2,328$1,905$1,551$585
19 years$3,207$2,623$2,131$1,721$1,383$488
20 years$3,015$2,438$1,956$1,559$1,235$407
21 years$2,841$2,271$1,799$1,415$1,105$340
22 years$2,683$2,120$1,658$1,286$991$284
23 years$2,539$1,983$1,531$1,172$889$238
24 years$2,408$1,857$1,416$1,068$799$199
25 years$2,287$1,743$1,312$976$719$167
26 years$2,175$1,638$1,216$892$648$140
27 years$2,072$1,542$1,130$817$584$117
28 years$1,977$1,453$1,050$748$527$98
29 years$1,888$1,371$977$686$476$82
30 years$1,806$1,294$910$630$430$69
31 years$1,728$1,224$849$578$389$58
32 years$1,656$1,158$792$532$352$49
33 years$1,588$1,096$739$489$318$41
34 years$1,525$1,039$691$450$288$34
35 years$1,465$986$646$414$261$29
36 years$1,409$936$604$381$236$24
37 years$1,356$889$565$351$214$20
38 years$1,305$844$529$324$194$17
39 years$1,258$803$496$299$176$14
40 years$1,213$764$465$275$160$12
41 years$1,170$727$436$254$145$10
42 years$1,129$693$409$234$132$8
43 years$1,091$660$384$216$119$7
44 years$1,054$629$360$200$108$6
45 years$1,019$600$338$185$98$5
46 years$985$572$318$170$89$4
47 years$954$546$298$158$81$4
48 years$923$521$280$146$74$3
49 years$894$498$264$135$67$2
50 years$866$476$248$124$61$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $887,000, adding $4,169 every year, while hoping to spend $34,757 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: 61/23/16 Blend
55$887,000$887,000$887,000$887,000
56$981,774$934,763$921,015$1,037,459
57$1,044,934$943,586$914,888$1,084,286
58$1,113,371$951,675$907,390$1,131,095
59$1,187,588$958,960$898,440$1,181,357
60$1,268,134$965,361$887,951$1,235,410
61$1,355,618$970,799$875,832$1,293,627
62$1,450,707$975,183$861,987$1,356,420
63$1,554,134$978,422$846,319$1,424,244
64$1,666,708$980,417$828,723$1,497,601
65$1,789,317$981,063$809,090$1,577,044
66$1,922,939$980,246$787,306$1,663,186
67$2,068,651$977,850$763,253$1,756,702
68$2,227,637$973,748$736,805$1,858,338
69$2,401,201$967,807$707,833$1,968,916
70$2,590,778$959,884$676,200$2,089,344
71$2,797,949$949,830$641,764$2,220,626
72$3,024,452$937,484$604,377$2,363,867
73$3,272,205$922,679$563,881$2,520,289
74$3,543,314$905,235$520,116$2,691,240
75$3,840,103$884,963$472,911$2,878,206
76$4,165,129$861,661$422,089$3,082,829
77$4,521,208$835,118$367,464$3,306,921
78$4,911,440$805,108$308,843$3,552,480
79$5,339,242$771,393$246,024$3,821,711
80$5,808,375$733,722$178,797$4,117,047
81$6,322,982$691,827$106,939$4,441,174
82$6,887,627$645,427$30,222$4,797,052
83$7,507,336$594,225$0$5,187,949
84$8,187,646$537,904$0$5,626,288
85$8,934,657$476,132$0$6,113,308
86$9,755,087$408,557$0$6,648,273
87$10,656,337$334,808$0$7,236,070
88$11,646,561$254,491$0$7,882,085
89$12,734,742$167,192$0$8,592,255
90$13,930,773$72,473$0$9,373,127
91$15,245,559$0$0$10,231,917
92$16,691,108$0$0$11,184,206
93$18,280,655$0$0$12,251,600
94$20,028,777$0$0$13,425,557
95$21,951,538$0$0$14,716,872
96$24,066,635$0$0$16,137,442
97$26,393,567$0$0$17,700,372
98$28,953,819$0$0$19,420,104
99$31,771,062$0$0$21,312,550
100$34,871,377$0$0$23,395,239