Can I retire at age 56 with 898,000?

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 $898,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.3%
1 years$74,156$73,495$72,851$72,222$71,608$70,919
2 years$36,711$36,027$35,365$34,722$34,099$33,405
3 years$24,231$23,544$22,883$22,247$21,634$20,956
4 years$17,992$17,307$16,653$16,028$15,429$14,774
5 years$14,250$13,569$12,924$12,311$11,729$11,097
6 years$11,756$11,080$10,444$9,845$9,281$8,673
7 years$9,975$9,305$8,679$8,094$7,548$6,965
8 years$8,640$7,976$7,361$6,790$6,262$5,703
9 years$7,602$6,945$6,340$5,784$5,273$4,739
10 years$6,772$6,122$5,527$4,985$4,493$3,983
11 years$6,094$5,450$4,866$4,339$3,864$3,378
12 years$5,529$4,891$4,318$3,806$3,349$2,885
13 years$5,051$4,420$3,858$3,360$2,920$2,480
14 years$4,642$4,018$3,467$2,983$2,560$2,141
15 years$4,288$3,670$3,130$2,660$2,254$1,857
16 years$3,978$3,368$2,838$2,382$1,992$1,616
17 years$3,706$3,101$2,582$2,140$1,766$1,410
18 years$3,463$2,866$2,357$1,928$1,570$1,234
19 years$3,247$2,656$2,158$1,743$1,400$1,082
20 years$3,052$2,468$1,980$1,578$1,250$951
21 years$2,876$2,299$1,822$1,432$1,119$836
22 years$2,716$2,146$1,679$1,302$1,003$737
23 years$2,571$2,007$1,550$1,186$900$650
24 years$2,438$1,881$1,434$1,082$809$574
25 years$2,315$1,765$1,328$988$728$508
26 years$2,202$1,659$1,231$903$656$449
27 years$2,098$1,561$1,144$827$591$398
28 years$2,001$1,471$1,063$758$534$353
29 years$1,912$1,388$989$695$482$313
30 years$1,828$1,310$921$638$435$277
31 years$1,750$1,239$859$586$394$246
32 years$1,677$1,172$802$538$356$218
33 years$1,608$1,110$748$495$322$194
34 years$1,544$1,052$699$455$292$172
35 years$1,483$998$654$419$264$153
36 years$1,426$947$612$386$239$136
37 years$1,372$900$572$356$217$121
38 years$1,322$855$536$328$197$108
39 years$1,273$813$502$302$178$96
40 years$1,228$773$471$279$162$85
41 years$1,184$736$441$257$147$76
42 years$1,143$701$414$237$133$67
43 years$1,104$668$389$219$121$60
44 years$1,067$637$365$202$110$53
45 years$1,031$607$342$187$100$47
46 years$998$579$322$173$90$42
47 years$965$553$302$159$82$38
48 years$935$528$284$147$75$33
49 years$905$504$267$136$68$30
50 years$877$481$251$126$62$26

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $898,000, adding $5,674 every year, while hoping to spend $55,600 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: 27/47/26 Blend
55$898,000$898,000$898,000$898,000
56$995,449$947,855$933,936$1,014,118
57$1,037,827$935,142$906,065$1,016,823
58$1,082,663$919,942$875,396$1,014,540
59$1,130,151$902,076$841,778$1,010,941
60$1,180,501$881,351$805,052$1,005,953
61$1,233,940$857,566$765,049$999,499
62$1,290,721$830,505$721,597$991,501
63$1,351,117$799,943$674,514$981,880
64$1,415,429$765,638$623,608$970,556
65$1,483,986$727,337$568,682$957,449
66$1,557,147$684,772$509,528$942,478
67$1,635,308$637,657$445,928$925,561
68$1,718,899$585,692$377,657$906,618
69$1,808,396$528,560$304,477$885,570
70$1,904,317$465,925$226,142$862,341
71$2,007,234$397,432$142,395$836,855
72$2,117,772$322,706$52,965$809,042
73$2,236,617$241,351$0$778,835
74$2,364,524$152,949$0$757,958
75$2,502,320$57,058$0$751,019
76$2,650,915$0$0$743,351
77$2,811,307$0$0$759,205
78$2,984,593$0$0$808,330
79$3,171,981$0$0$861,575
80$3,374,796$0$0$919,331
81$3,594,495$0$0$982,029
82$3,832,681$0$0$1,050,143
83$4,091,115$0$0$1,124,195
84$4,371,736$0$0$1,204,759
85$4,676,675$0$0$1,292,466
86$5,008,277$0$0$1,388,012
87$5,369,121$0$0$1,492,160
88$5,762,047$0$0$1,605,752
89$6,190,177$0$0$1,729,714
90$6,656,949$0$0$1,865,066
91$7,166,147$0$0$2,012,929
92$7,721,933$0$0$2,174,541
93$8,328,892$0$0$2,351,259
94$8,992,070$0$0$2,544,583
95$9,717,021$0$0$2,756,161
96$10,509,861$0$0$2,987,809
97$11,377,325$0$0$3,241,527
98$12,326,827$0$0$3,519,515
99$13,366,532$0$0$3,824,201
100$14,505,432$0$0$4,158,253