Can I retire at age 56 with 896,000?

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 $896,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.6%
1 years$73,991$73,332$72,689$72,061$71,448$69,244
2 years$36,629$35,947$35,286$34,645$34,023$31,822
3 years$24,177$23,492$22,832$22,197$21,586$19,456
4 years$17,952$17,269$16,616$15,992$15,395$13,354
5 years$14,218$13,539$12,895$12,283$11,703$9,756
6 years$11,729$11,056$10,421$9,823$9,260$7,408
7 years$9,953$9,285$8,660$8,076$7,531$5,774
8 years$8,621$7,959$7,344$6,775$6,248$4,585
9 years$7,585$6,929$6,326$5,771$5,261$3,691
10 years$6,757$6,108$5,515$4,974$4,483$3,002
11 years$6,080$5,437$4,855$4,329$3,856$2,462
12 years$5,517$4,880$4,309$3,797$3,341$2,032
13 years$5,040$4,410$3,850$3,352$2,914$1,686
14 years$4,632$4,009$3,459$2,976$2,554$1,405
15 years$4,279$3,662$3,123$2,654$2,249$1,174
16 years$3,970$3,360$2,831$2,376$1,987$984
17 years$3,697$3,094$2,576$2,135$1,762$827
18 years$3,456$2,859$2,352$1,924$1,567$696
19 years$3,239$2,650$2,153$1,739$1,397$587
20 years$3,045$2,463$1,976$1,575$1,247$496
21 years$2,870$2,294$1,818$1,429$1,116$419
22 years$2,710$2,141$1,675$1,299$1,001$354
23 years$2,565$2,003$1,547$1,183$898$300
24 years$2,432$1,876$1,430$1,079$807$254
25 years$2,310$1,761$1,325$986$726$215
26 years$2,197$1,655$1,229$901$654$183
27 years$2,093$1,557$1,141$825$590$155
28 years$1,997$1,468$1,061$756$532$132
29 years$1,907$1,384$987$693$481$112
30 years$1,824$1,308$919$636$434$95
31 years$1,746$1,236$857$584$393$81
32 years$1,673$1,170$800$537$355$68
33 years$1,605$1,108$747$494$321$58
34 years$1,540$1,050$698$454$291$49
35 years$1,480$996$652$418$264$42
36 years$1,423$945$610$385$239$36
37 years$1,369$898$571$355$216$30
38 years$1,319$853$535$327$196$26
39 years$1,271$811$501$302$178$22
40 years$1,225$772$470$278$161$19
41 years$1,182$735$440$257$146$16
42 years$1,141$700$413$237$133$13
43 years$1,102$667$388$219$121$11
44 years$1,065$635$364$202$109$10
45 years$1,029$606$342$186$99$8
46 years$995$578$321$172$90$7
47 years$963$552$301$159$82$6
48 years$932$527$283$147$74$5
49 years$903$503$266$136$68$4
50 years$875$480$250$126$61$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $896,000, adding $4,605 every year, while hoping to spend $36,151 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: 47/38/15 Blend
55$896,000$896,000$896,000$896,000
56$992,142$944,654$930,766$1,034,380
57$1,054,876$952,478$923,482$1,071,956
58$1,122,798$959,473$914,743$1,108,655
59$1,196,397$965,561$904,461$1,147,698
60$1,276,215$970,659$892,546$1,189,316
61$1,362,844$974,677$878,901$1,233,766
62$1,456,937$977,519$863,428$1,281,333
63$1,559,214$979,087$846,021$1,332,334
64$1,670,463$979,271$826,572$1,387,117
65$1,791,554$977,959$804,967$1,446,070
66$1,923,444$975,030$781,084$1,509,622
67$2,067,184$970,356$754,800$1,578,248
68$2,223,934$963,801$725,983$1,652,473
69$2,394,968$955,220$694,496$1,732,879
70$2,581,690$944,461$660,196$1,820,109
71$2,785,644$931,361$622,935$1,914,876
72$3,008,531$915,749$582,554$2,017,969
73$3,252,223$897,442$538,892$2,130,259
74$3,518,781$876,249$491,776$2,252,711
75$3,810,476$851,964$441,030$2,386,391
76$4,129,806$824,372$386,466$2,532,478
77$4,479,524$793,243$327,890$2,692,278
78$4,862,660$758,337$265,099$2,867,232
79$5,282,551$719,396$197,880$3,058,934
80$5,742,875$676,149$126,012$3,269,146
81$6,247,679$628,311$49,264$3,499,814
82$6,801,422$575,579$0$3,753,090
83$7,409,017$517,631$0$4,036,576
84$8,075,872$454,131$0$4,356,428
85$8,807,947$384,720$0$4,707,697
86$9,611,807$309,020$0$5,093,631
87$10,494,682$226,632$0$5,517,818
88$11,464,538$137,136$0$5,984,213
89$12,530,150$40,085$0$6,497,186
90$13,701,186$0$0$7,061,554
91$14,988,296$0$0$7,709,813
92$16,403,213$0$0$8,440,979
93$17,958,864$0$0$9,244,983
94$19,669,491$0$0$10,129,202
95$21,550,785$0$0$11,101,759
96$23,620,034$0$0$12,171,607
97$25,896,284$0$0$13,348,611
98$28,400,523$0$0$14,643,637
99$31,155,873$0$0$16,068,660
100$34,187,812$0$0$17,636,873