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%19.8%
1 years$73,578$72,923$72,283$71,659$71,050$68,258
2 years$36,425$35,746$35,089$34,451$33,833$31,054
3 years$24,042$23,361$22,705$22,073$21,465$18,787
4 years$17,852$17,173$16,523$15,903$15,309$12,752
5 years$14,139$13,463$12,823$12,215$11,638$9,209
6 years$11,664$10,994$10,363$9,768$9,209$6,909
7 years$9,897$9,233$8,611$8,031$7,489$5,318
8 years$8,573$7,914$7,303$6,737$6,213$4,168
9 years$7,543$6,891$6,290$5,738$5,232$3,310
10 years$6,720$6,074$5,484$4,947$4,458$2,656
11 years$6,046$5,407$4,828$4,305$3,834$2,147
12 years$5,486$4,853$4,285$3,776$3,323$1,746
13 years$5,012$4,386$3,828$3,334$2,897$1,427
14 years$4,606$3,987$3,440$2,959$2,540$1,171
15 years$4,255$3,642$3,105$2,639$2,236$964
16 years$3,947$3,341$2,816$2,363$1,976$795
17 years$3,677$3,077$2,562$2,123$1,752$657
18 years$3,436$2,843$2,339$1,913$1,558$544
19 years$3,221$2,635$2,141$1,729$1,389$451
20 years$3,028$2,449$1,965$1,566$1,240$375
21 years$2,854$2,281$1,807$1,421$1,110$311
22 years$2,695$2,129$1,666$1,292$995$259
23 years$2,551$1,991$1,538$1,177$893$215
24 years$2,419$1,866$1,422$1,073$803$179
25 years$2,297$1,751$1,317$980$722$149
26 years$2,185$1,646$1,222$896$651$124
27 years$2,082$1,549$1,135$820$587$104
28 years$1,986$1,459$1,055$752$529$86
29 years$1,897$1,377$982$689$478$72
30 years$1,814$1,300$914$633$432$60
31 years$1,736$1,229$852$581$391$50
32 years$1,664$1,163$795$534$353$42
33 years$1,596$1,101$743$491$320$35
34 years$1,532$1,044$694$452$289$29
35 years$1,472$990$649$416$262$24
36 years$1,415$940$607$383$238$20
37 years$1,362$893$568$353$215$17
38 years$1,311$848$532$325$195$14
39 years$1,263$807$498$300$177$12
40 years$1,218$767$467$277$161$10
41 years$1,175$730$438$255$146$8
42 years$1,134$696$411$236$132$7
43 years$1,096$663$385$217$120$6
44 years$1,059$632$362$201$109$5
45 years$1,023$603$340$185$99$4
46 years$990$575$319$171$90$3
47 years$958$549$300$158$81$3
48 years$927$524$282$146$74$2
49 years$898$500$265$135$67$2
50 years$870$478$249$125$61$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $891,000, adding $6,090 every year, while hoping to spend $49,218 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: 76/19/5 Blend
55$891,000$891,000$891,000$891,000
56$988,164$940,941$927,130$1,062,499
57$1,036,589$934,679$905,822$1,105,898
58$1,088,304$926,462$882,150$1,146,495
59$1,143,592$916,139$855,983$1,189,541
60$1,202,765$903,556$827,184$1,235,259
61$1,266,163$888,546$795,611$1,283,893
62$1,334,159$870,934$761,112$1,335,714
63$1,407,166$850,531$723,531$1,391,020
64$1,485,632$827,142$682,705$1,450,141
65$1,570,052$800,558$638,461$1,513,441
66$1,660,968$770,557$590,621$1,581,321
67$1,758,978$736,905$538,997$1,654,224
68$1,864,735$699,354$483,395$1,732,640
69$1,978,959$657,644$423,610$1,817,107
70$2,102,440$611,496$359,428$1,908,223
71$2,236,048$560,618$290,628$2,006,645
72$2,380,738$504,701$216,977$2,113,100
73$2,537,559$443,417$138,231$2,228,389
74$2,707,666$376,421$54,138$2,353,399
75$2,892,329$303,347$0$2,489,106
76$3,092,946$223,810$0$2,638,488
77$3,311,051$137,402$0$2,804,044
78$3,548,336$43,692$0$2,984,210
79$3,806,661$0$0$3,180,455
80$4,088,070$0$0$3,406,476
81$4,394,817$0$0$3,662,836
82$4,729,380$0$0$3,942,475
83$5,094,486$0$0$4,247,677
84$5,493,139$0$0$4,580,956
85$5,928,643$0$0$4,945,080
86$6,404,637$0$0$5,343,096
87$6,925,128$0$0$5,778,359
88$7,494,527$0$0$6,254,562
89$8,117,689$0$0$6,775,772
90$8,799,964$0$0$7,346,468
91$9,547,241$0$0$7,971,581
92$10,366,005$0$0$8,656,543
93$11,263,398$0$0$9,407,334
94$12,247,287$0$0$10,230,543
95$13,326,337$0$0$11,133,424
96$14,510,088$0$0$12,123,968
97$15,809,054$0$0$13,210,979
98$17,234,810$0$0$14,404,152
99$18,800,110$0$0$15,714,166
100$20,519,002$0$0$17,152,787