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%14.9%
1 years$73,661$73,004$72,364$71,739$71,129$69,693
2 years$36,466$35,786$35,128$34,490$33,871$32,431
3 years$24,069$23,387$22,730$22,098$21,489$20,089
4 years$17,872$17,192$16,542$15,920$15,326$13,977
5 years$14,154$13,479$12,837$12,228$11,651$10,357
6 years$11,677$11,006$10,374$9,779$9,219$7,982
7 years$9,908$9,243$8,621$8,040$7,497$6,317
8 years$8,582$7,923$7,311$6,745$6,220$5,096
9 years$7,551$6,898$6,297$5,745$5,238$4,170
10 years$6,727$6,081$5,490$4,952$4,463$3,449
11 years$6,053$5,413$4,833$4,310$3,838$2,878
12 years$5,492$4,859$4,290$3,780$3,326$2,418
13 years$5,018$4,391$3,832$3,337$2,901$2,043
14 years$4,611$3,991$3,443$2,963$2,543$1,734
15 years$4,259$3,646$3,109$2,642$2,239$1,477
16 years$3,952$3,345$2,819$2,366$1,979$1,262
17 years$3,681$3,081$2,565$2,126$1,754$1,081
18 years$3,440$2,847$2,341$1,916$1,560$929
19 years$3,225$2,638$2,143$1,731$1,390$799
20 years$3,032$2,452$1,967$1,568$1,242$688
21 years$2,857$2,284$1,809$1,423$1,111$594
22 years$2,698$2,132$1,668$1,294$996$513
23 years$2,554$1,994$1,540$1,178$894$444
24 years$2,421$1,868$1,424$1,075$804$384
25 years$2,300$1,753$1,319$981$723$333
26 years$2,188$1,648$1,223$897$651$288
27 years$2,084$1,551$1,136$821$587$250
28 years$1,988$1,461$1,056$752$530$217
29 years$1,899$1,378$983$690$479$188
30 years$1,816$1,302$915$633$432$164
31 years$1,738$1,231$853$582$391$142
32 years$1,666$1,164$796$535$354$123
33 years$1,597$1,103$743$492$320$107
34 years$1,534$1,045$695$452$290$93
35 years$1,473$991$649$416$262$81
36 years$1,417$941$607$383$238$70
37 years$1,363$894$569$353$216$61
38 years$1,313$849$532$326$195$53
39 years$1,265$807$499$300$177$46
40 years$1,220$768$468$277$161$40
41 years$1,176$731$438$255$146$35
42 years$1,136$696$411$236$132$30
43 years$1,097$664$386$218$120$27
44 years$1,060$633$362$201$109$23
45 years$1,025$603$340$186$99$20
46 years$991$575$319$171$90$17
47 years$959$549$300$158$82$15
48 years$928$524$282$146$74$13
49 years$899$501$265$135$67$12
50 years$871$478$249$125$61$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $892,000, adding $4,757 every year, while hoping to spend $30,570 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: 85/5/10 Blend
55$892,000$892,000$892,000$892,000
56$987,891$940,615$926,789$1,070,022
57$1,056,129$954,179$925,310$1,137,963
58$1,130,304$967,383$922,757$1,207,965
59$1,210,987$980,177$919,062$1,283,928
60$1,298,810$992,508$914,153$1,366,432
61$1,394,466$1,004,318$907,954$1,456,116
62$1,498,720$1,015,548$900,389$1,553,685
63$1,612,411$1,026,131$891,373$1,659,913
64$1,736,464$1,035,998$880,821$1,775,655
65$1,871,897$1,045,077$868,643$1,901,851
66$2,019,832$1,053,286$854,744$2,039,537
67$2,181,501$1,060,544$839,024$2,189,854
68$2,358,264$1,066,760$821,381$2,354,059
69$2,551,615$1,071,840$801,706$2,533,538
70$2,763,202$1,075,682$779,885$2,729,815
71$2,994,837$1,078,179$755,799$2,944,571
72$3,248,517$1,079,217$729,326$3,179,658
73$3,526,441$1,078,674$700,333$3,437,115
74$3,831,031$1,076,421$668,687$3,719,191
75$4,164,953$1,072,322$634,245$4,028,362
76$4,531,144$1,066,232$596,858$4,367,355
77$4,932,840$1,057,997$556,372$4,739,178
78$5,373,603$1,047,452$512,624$5,147,143
79$5,857,360$1,034,426$465,446$5,594,901
80$6,388,432$1,018,735$414,660$6,086,472
81$6,971,583$1,000,184$360,082$6,626,289
82$7,612,058$978,566$301,518$7,219,235
83$8,315,637$953,666$238,768$7,870,693
84$9,088,687$925,250$171,622$8,586,590
85$9,938,220$893,074$99,858$9,373,463
86$10,871,964$856,881$23,249$10,238,511
87$11,898,432$816,395$0$11,189,670
88$13,027,001$771,328$0$12,241,925
89$14,268,005$721,372$0$13,401,724
90$15,632,827$666,205$0$14,677,229
91$17,134,009$605,483$0$16,080,171
92$18,785,372$538,845$0$17,623,475
93$20,602,139$465,908$0$19,321,383
94$22,601,087$386,268$0$21,189,587
95$24,800,701$299,497$0$23,245,378
96$27,221,345$205,146$0$25,507,811
97$29,885,461$102,736$0$27,997,880
98$32,817,774$0$0$30,738,719
99$36,045,529$0$0$33,756,273
100$39,598,746$0$0$37,084,333