Can I retire at age 56 with 888,000?

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 $888,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.1%
1 years$73,330$72,677$72,040$71,418$70,810$69,609
2 years$36,302$35,626$34,971$34,335$33,719$32,512
3 years$23,961$23,282$22,628$21,999$21,393$20,218
4 years$17,792$17,115$16,468$15,849$15,258$14,124
5 years$14,091$13,418$12,780$12,174$11,599$10,510
6 years$11,625$10,957$10,328$9,735$9,178$8,135
7 years$9,864$9,202$8,582$8,004$7,464$6,467
8 years$8,544$7,887$7,279$6,714$6,192$5,241
9 years$7,517$6,867$6,269$5,719$5,215$4,309
10 years$6,697$6,053$5,466$4,930$4,443$3,582
11 years$6,026$5,389$4,812$4,291$3,821$3,004
12 years$5,467$4,837$4,270$3,763$3,311$2,537
13 years$4,995$4,371$3,815$3,322$2,888$2,155
14 years$4,591$3,973$3,428$2,949$2,531$1,838
15 years$4,240$3,630$3,095$2,630$2,229$1,575
16 years$3,934$3,330$2,806$2,355$1,970$1,353
17 years$3,664$3,067$2,553$2,116$1,746$1,166
18 years$3,425$2,834$2,331$1,907$1,553$1,007
19 years$3,211$2,626$2,134$1,723$1,384$872
20 years$3,018$2,441$1,958$1,561$1,236$756
21 years$2,844$2,273$1,801$1,416$1,106$656
22 years$2,686$2,122$1,660$1,288$992$570
23 years$2,542$1,985$1,533$1,173$890$496
24 years$2,410$1,860$1,418$1,070$800$432
25 years$2,289$1,745$1,313$977$720$377
26 years$2,178$1,640$1,218$893$649$329
27 years$2,075$1,544$1,131$818$585$287
28 years$1,979$1,454$1,051$749$528$251
29 years$1,890$1,372$978$687$476$219
30 years$1,808$1,296$911$630$430$191
31 years$1,730$1,225$850$579$389$167
32 years$1,658$1,159$793$532$352$146
33 years$1,590$1,098$740$489$319$128
34 years$1,527$1,040$691$450$288$112
35 years$1,467$987$646$414$261$98
36 years$1,410$937$605$382$237$86
37 years$1,357$890$566$352$215$75
38 years$1,307$845$530$324$195$66
39 years$1,259$804$497$299$176$58
40 years$1,214$765$465$276$160$50
41 years$1,171$728$436$254$145$44
42 years$1,131$693$409$235$132$39
43 years$1,092$661$384$217$120$34
44 years$1,055$630$361$200$108$30
45 years$1,020$600$339$185$98$26
46 years$987$573$318$171$89$23
47 years$955$547$299$158$81$20
48 years$924$522$281$146$74$17
49 years$895$498$264$135$67$15
50 years$867$476$248$124$61$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $888,000, adding $4,297 every year, while hoping to spend $59,749 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: 41/48/11 Blend
55$888,000$888,000$888,000$888,000
56$983,008$935,944$922,180$1,019,942
57$1,019,703$918,233$889,501$1,028,582
58$1,058,137$897,652$853,724$1,031,655
59$1,098,427$873,996$814,683$1,033,652
60$1,140,695$847,050$772,204$1,034,500
61$1,185,077$816,587$726,104$1,034,124
62$1,231,719$782,363$676,192$1,032,448
63$1,280,779$744,125$622,270$1,029,392
64$1,332,432$701,600$564,129$1,024,874
65$1,386,865$654,504$501,553$1,018,812
66$1,444,285$602,533$434,314$1,011,120
67$1,504,913$545,369$362,175$1,001,711
68$1,568,995$482,673$284,888$990,498
69$1,636,797$414,088$202,196$977,392
70$1,708,609$339,237$113,829$962,304
71$1,784,748$257,721$19,504$945,144
72$1,865,563$169,120$0$925,825
73$1,951,432$72,988$0$913,784
74$2,042,771$0$0$902,474
75$2,140,033$0$0$906,007
76$2,243,717$0$0$950,935
77$2,354,366$0$0$998,949
78$2,472,578$0$0$1,050,318
79$2,599,006$0$0$1,105,336
80$2,734,368$0$0$1,164,324
81$2,879,451$0$0$1,227,634
82$3,035,117$0$0$1,295,657
83$3,202,312$0$0$1,368,815
84$3,382,076$0$0$1,447,577
85$3,575,549$0$0$1,532,456
86$3,783,985$0$0$1,624,016
87$4,008,759$0$0$1,722,875
88$4,251,381$0$0$1,829,713
89$4,513,514$0$0$1,945,279
90$4,796,982$0$0$2,070,394
91$5,103,791$0$0$2,205,961
92$5,436,146$0$0$2,352,975
93$5,796,472$0$0$2,512,527
94$6,187,436$0$0$2,685,819
95$6,611,969$0$0$2,874,174
96$7,073,296$0$0$3,079,043
97$7,574,967$0$0$3,302,029
98$8,120,885$0$0$3,544,890
99$8,715,344$0$0$3,809,563
100$9,363,070$0$0$4,098,181