Can I retire at age 56 with 891,000?

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 $891,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.3%
1 years$73,578$72,923$72,283$71,659$71,050$69,501
2 years$36,425$35,746$35,089$34,451$33,833$32,281
3 years$24,042$23,361$22,705$22,073$21,465$19,958
4 years$17,852$17,173$16,523$15,903$15,309$13,858
5 years$14,139$13,463$12,823$12,215$11,638$10,247
6 years$11,664$10,994$10,363$9,768$9,209$7,880
7 years$9,897$9,233$8,611$8,031$7,489$6,222
8 years$8,573$7,914$7,303$6,737$6,213$5,008
9 years$7,543$6,891$6,290$5,738$5,232$4,088
10 years$6,720$6,074$5,484$4,947$4,458$3,373
11 years$6,046$5,407$4,828$4,305$3,834$2,807
12 years$5,486$4,853$4,285$3,776$3,323$2,353
13 years$5,012$4,386$3,828$3,334$2,897$1,982
14 years$4,606$3,987$3,440$2,959$2,540$1,678
15 years$4,255$3,642$3,105$2,639$2,236$1,425
16 years$3,947$3,341$2,816$2,363$1,976$1,214
17 years$3,677$3,077$2,562$2,123$1,752$1,038
18 years$3,436$2,843$2,339$1,913$1,558$888
19 years$3,221$2,635$2,141$1,729$1,389$762
20 years$3,028$2,449$1,965$1,566$1,240$655
21 years$2,854$2,281$1,807$1,421$1,110$563
22 years$2,695$2,129$1,666$1,292$995$485
23 years$2,551$1,991$1,538$1,177$893$418
24 years$2,419$1,866$1,422$1,073$803$361
25 years$2,297$1,751$1,317$980$722$312
26 years$2,185$1,646$1,222$896$651$269
27 years$2,082$1,549$1,135$820$587$233
28 years$1,986$1,459$1,055$752$529$201
29 years$1,897$1,377$982$689$478$174
30 years$1,814$1,300$914$633$432$151
31 years$1,736$1,229$852$581$391$130
32 years$1,664$1,163$795$534$353$113
33 years$1,596$1,101$743$491$320$98
34 years$1,532$1,044$694$452$289$85
35 years$1,472$990$649$416$262$73
36 years$1,415$940$607$383$238$64
37 years$1,362$893$568$353$215$55
38 years$1,311$848$532$325$195$48
39 years$1,263$807$498$300$177$41
40 years$1,218$767$467$277$161$36
41 years$1,175$730$438$255$146$31
42 years$1,134$696$411$236$132$27
43 years$1,096$663$385$217$120$23
44 years$1,059$632$362$201$109$20
45 years$1,023$603$340$185$99$18
46 years$990$575$319$171$90$15
47 years$958$549$300$158$81$13
48 years$927$524$282$146$74$11
49 years$898$500$265$135$67$10
50 years$870$478$249$125$61$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $891,000, adding $5,490 every year, while hoping to spend $27,708 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: 69/20/11 Blend
55$891,000$891,000$891,000$891,000
56$987,545$940,322$926,511$1,053,044
57$1,058,793$956,917$928,068$1,113,826
58$1,136,381$973,396$928,749$1,176,435
59$1,220,924$989,725$928,494$1,244,197
60$1,313,102$1,005,865$927,243$1,317,614
61$1,413,664$1,021,778$924,931$1,397,240
62$1,523,431$1,037,419$921,490$1,483,684
63$1,643,310$1,052,741$916,849$1,577,616
64$1,774,299$1,067,696$910,934$1,679,776
65$1,917,494$1,082,230$903,668$1,790,978
66$2,074,105$1,096,287$894,967$1,912,122
67$2,245,463$1,109,804$884,748$2,044,196
68$2,433,033$1,122,717$872,919$2,188,291
69$2,638,429$1,134,956$859,389$2,345,609
70$2,863,428$1,146,448$844,057$2,517,475
71$3,109,987$1,157,114$826,823$2,705,349
72$3,380,262$1,166,868$807,577$2,910,839
73$3,676,625$1,175,622$786,208$3,135,719
74$4,001,693$1,183,279$762,598$3,381,944
75$4,358,344$1,189,738$736,623$3,651,668
76$4,749,750$1,194,891$708,155$3,947,267
77$5,179,406$1,198,621$677,060$4,271,357
78$5,651,160$1,200,809$643,196$4,626,823
79$6,169,252$1,201,322$606,416$5,016,845
80$6,738,352$1,200,022$566,567$5,444,928
81$7,363,605$1,196,764$523,488$5,914,936
82$8,050,678$1,191,392$477,011$6,431,126
83$8,805,817$1,183,740$426,961$6,998,193
84$9,635,900$1,173,633$373,154$7,621,308
85$10,548,506$1,160,885$315,398$8,306,175
86$11,551,985$1,145,299$253,495$9,059,078
87$12,655,536$1,126,667$187,236$9,886,946
88$13,869,294$1,104,768$116,402$10,797,414
89$15,204,427$1,079,366$40,766$11,798,898
90$16,673,238$1,050,215$0$12,900,675
91$18,289,284$1,017,051$0$14,117,659
92$20,067,500$979,596$0$15,461,842
93$22,024,345$937,556$0$16,940,886
94$24,177,952$890,620$0$18,568,513
95$26,548,301$838,458$0$20,359,849
96$29,157,408$780,723$0$22,331,559
97$32,029,531$717,045$0$24,502,011
98$35,191,400$647,037$0$26,891,449
99$38,672,467$570,287$0$29,522,182
100$42,505,187$486,359$0$32,418,796