Can I retire at age 56 with 892,000?

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 $892,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18%
1 years$73,661$73,004$72,364$71,739$71,129$68,825
2 years$36,466$35,786$35,128$34,490$33,871$31,571
3 years$24,069$23,387$22,730$22,098$21,489$19,266
4 years$17,872$17,192$16,542$15,920$15,326$13,196
5 years$14,154$13,479$12,837$12,228$11,651$9,620
6 years$11,677$11,006$10,374$9,779$9,219$7,289
7 years$9,908$9,243$8,621$8,040$7,497$5,669
8 years$8,582$7,923$7,311$6,745$6,220$4,490
9 years$7,551$6,898$6,297$5,745$5,238$3,606
10 years$6,727$6,081$5,490$4,952$4,463$2,926
11 years$6,053$5,413$4,833$4,310$3,838$2,393
12 years$5,492$4,859$4,290$3,780$3,326$1,970
13 years$5,018$4,391$3,832$3,337$2,901$1,630
14 years$4,611$3,991$3,443$2,963$2,543$1,354
15 years$4,259$3,646$3,109$2,642$2,239$1,129
16 years$3,952$3,345$2,819$2,366$1,979$944
17 years$3,681$3,081$2,565$2,126$1,754$790
18 years$3,440$2,847$2,341$1,916$1,560$663
19 years$3,225$2,638$2,143$1,731$1,390$558
20 years$3,032$2,452$1,967$1,568$1,242$469
21 years$2,857$2,284$1,809$1,423$1,111$395
22 years$2,698$2,132$1,668$1,294$996$334
23 years$2,554$1,994$1,540$1,178$894$282
24 years$2,421$1,868$1,424$1,075$804$238
25 years$2,300$1,753$1,319$981$723$201
26 years$2,188$1,648$1,223$897$651$170
27 years$2,084$1,551$1,136$821$587$144
28 years$1,988$1,461$1,056$752$530$121
29 years$1,899$1,378$983$690$479$103
30 years$1,816$1,302$915$633$432$87
31 years$1,738$1,231$853$582$391$74
32 years$1,666$1,164$796$535$354$62
33 years$1,597$1,103$743$492$320$53
34 years$1,534$1,045$695$452$290$45
35 years$1,473$991$649$416$262$38
36 years$1,417$941$607$383$238$32
37 years$1,363$894$569$353$216$27
38 years$1,313$849$532$326$195$23
39 years$1,265$807$499$300$177$20
40 years$1,220$768$468$277$161$17
41 years$1,176$731$438$255$146$14
42 years$1,136$696$411$236$132$12
43 years$1,097$664$386$218$120$10
44 years$1,060$633$362$201$109$9
45 years$1,025$603$340$186$99$7
46 years$991$575$319$171$90$6
47 years$959$549$300$158$82$5
48 years$928$524$282$146$74$4
49 years$899$501$265$135$67$4
50 years$871$478$249$125$61$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $892,000, adding $6,345 every year, while hoping to spend $55,398 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: 30/45/25 Blend
55$892,000$892,000$892,000$892,000
56$989,529$942,253$928,427$1,011,412
57$1,031,518$929,480$900,586$1,016,067
58$1,075,933$914,225$869,956$1,015,748
59$1,122,963$896,307$836,385$1,014,281
60$1,172,815$875,536$799,713$1,011,603
61$1,225,714$851,709$759,775$1,007,649
62$1,281,906$824,612$716,398$1,002,356
63$1,341,663$794,020$669,399$995,659
64$1,405,277$759,692$618,589$987,494
65$1,473,074$721,375$563,770$977,797
66$1,545,406$678,802$504,735$966,506
67$1,622,662$631,687$441,268$953,558
68$1,705,266$579,732$373,143$938,894
69$1,793,684$522,620$300,124$922,458
70$1,888,427$460,016$221,965$904,198
71$1,990,055$391,565$138,409$884,064
72$2,099,182$316,893$49,188$862,016
73$2,216,484$235,607$0$838,016
74$2,342,702$147,287$0$824,316
75$2,478,647$51,494$0$823,420
76$2,625,215$0$0$822,268
77$2,783,385$0$0$846,820
78$2,954,236$0$0$900,992
79$3,138,953$0$0$959,676
80$3,338,837$0$0$1,023,298
81$3,555,321$0$0$1,092,331
82$3,789,977$0$0$1,167,293
83$4,044,537$0$0$1,248,751
84$4,320,904$0$0$1,337,334
85$4,621,170$0$0$1,433,731
86$4,947,639$0$0$1,538,700
87$5,302,843$0$0$1,653,075
88$5,689,571$0$0$1,777,776
89$6,110,888$0$0$1,913,813
90$6,570,171$0$0$2,062,298
91$7,071,134$0$0$2,224,458
92$7,617,865$0$0$2,401,640
93$8,214,866$0$0$2,595,328
94$8,867,090$0$0$2,807,157
95$9,579,991$0$0$3,038,927
96$10,359,575$0$0$3,292,619
97$11,212,453$0$0$3,570,414
98$12,145,905$0$0$3,874,716
99$13,167,946$0$0$4,208,170
100$14,287,406$0$0$4,573,691