Can I retire at age 56 with 899,000?

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 $899,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.5%
1 years$74,239$73,577$72,932$72,302$71,688$70,068
2 years$36,752$36,067$35,404$34,761$34,137$32,514
3 years$24,258$23,570$22,909$22,272$21,658$20,083
4 years$18,012$17,327$16,672$16,045$15,447$13,931
5 years$14,266$13,584$12,938$12,324$11,742$10,290
6 years$11,769$11,093$10,456$9,856$9,291$7,904
7 years$9,986$9,316$8,689$8,103$7,556$6,234
8 years$8,650$7,985$7,369$6,797$6,269$5,012
9 years$7,611$6,953$6,347$5,790$5,279$4,086
10 years$6,780$6,128$5,533$4,991$4,498$3,368
11 years$6,101$5,456$4,871$4,344$3,868$2,799
12 years$5,535$4,897$4,323$3,810$3,352$2,343
13 years$5,057$4,425$3,862$3,364$2,923$1,971
14 years$4,647$4,022$3,470$2,986$2,563$1,666
15 years$4,293$3,675$3,133$2,663$2,256$1,413
16 years$3,983$3,371$2,841$2,384$1,994$1,203
17 years$3,710$3,105$2,585$2,142$1,768$1,026
18 years$3,467$2,869$2,360$1,931$1,572$877
19 years$3,250$2,659$2,160$1,744$1,401$751
20 years$3,055$2,471$1,983$1,580$1,252$645
21 years$2,879$2,302$1,824$1,434$1,120$554
22 years$2,719$2,148$1,681$1,304$1,004$476
23 years$2,574$2,009$1,552$1,187$901$410
24 years$2,440$1,883$1,435$1,083$810$353
25 years$2,318$1,767$1,329$989$729$304
26 years$2,205$1,660$1,233$904$657$262
27 years$2,100$1,563$1,145$828$592$227
28 years$2,004$1,473$1,064$758$534$196
29 years$1,914$1,389$990$695$482$169
30 years$1,830$1,312$923$638$436$146
31 years$1,752$1,240$860$586$394$126
32 years$1,679$1,173$802$539$356$109
33 years$1,610$1,111$749$495$323$94
34 years$1,546$1,053$700$456$292$82
35 years$1,485$999$654$420$265$71
36 years$1,428$948$612$386$240$61
37 years$1,374$901$573$356$217$53
38 years$1,323$856$537$328$197$46
39 years$1,275$814$503$303$179$40
40 years$1,229$774$471$279$162$34
41 years$1,186$737$442$258$147$30
42 years$1,145$702$415$238$133$26
43 years$1,105$669$389$219$121$22
44 years$1,068$638$365$203$110$19
45 years$1,033$608$343$187$100$17
46 years$999$580$322$173$91$14
47 years$966$553$302$160$82$12
48 years$936$528$284$148$75$11
49 years$906$505$267$136$68$9
50 years$878$482$251$126$62$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $899,000, adding $2,259 every year, while hoping to spend $54,781 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: 58/22/20 Blend
55$899,000$899,000$899,000$899,000
56$993,028$945,381$931,447$1,045,230
57$1,036,030$933,418$904,364$1,069,003
58$1,081,583$919,033$874,537$1,088,774
59$1,129,888$902,049$841,818$1,109,111
60$1,181,167$882,280$806,049$1,130,080
61$1,235,661$859,527$767,066$1,151,756
62$1,293,634$833,580$724,699$1,174,225
63$1,355,378$804,218$678,769$1,197,583
64$1,421,207$771,205$629,089$1,221,940
65$1,491,470$734,294$575,463$1,247,421
66$1,566,546$693,221$517,688$1,274,167
67$1,646,854$647,708$455,550$1,302,335
68$1,732,849$597,462$388,827$1,332,103
69$1,825,032$542,171$317,286$1,363,674
70$1,923,955$481,507$240,684$1,397,272
71$2,030,220$415,122$158,769$1,433,151
72$2,144,490$342,651$71,275$1,471,595
73$2,267,492$263,704$0$1,512,923
74$2,400,024$177,874$0$1,562,206
75$2,542,964$84,727$0$1,631,666
76$2,697,275$0$0$1,706,588
77$2,864,017$0$0$1,791,457
78$3,044,351$0$0$1,905,487
79$3,239,559$0$0$2,028,985
80$3,451,045$0$0$2,162,848
81$3,680,355$0$0$2,308,062
82$3,929,191$0$0$2,465,713
83$4,199,421$0$0$2,636,995
84$4,493,102$0$0$2,823,220
85$4,812,497$0$0$3,025,834
86$5,160,094$0$0$3,246,426
87$5,538,634$0$0$3,486,745
88$5,951,129$0$0$3,748,715
89$6,400,897$0$0$4,034,456
90$6,891,587$0$0$4,346,298
91$7,427,219$0$0$4,686,809
92$8,012,215$0$0$5,058,813
93$8,651,444$0$0$5,465,422
94$9,350,267$0$0$5,910,058
95$10,114,586$0$0$6,396,493
96$10,950,899$0$0$6,928,878
97$11,866,362$0$0$7,511,784
98$12,868,854$0$0$8,150,246
99$13,967,051$0$0$8,849,807
100$15,170,511$0$0$9,616,573