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%11.1%
1 years$74,239$73,577$72,932$72,302$71,688$71,355
2 years$36,752$36,067$35,404$34,761$34,137$33,802
3 years$24,258$23,570$22,909$22,272$21,658$21,330
4 years$18,012$17,327$16,672$16,045$15,447$15,128
5 years$14,266$13,584$12,938$12,324$11,742$11,435
6 years$11,769$11,093$10,456$9,856$9,291$8,995
7 years$9,986$9,316$8,689$8,103$7,556$7,271
8 years$8,650$7,985$7,369$6,797$6,269$5,995
9 years$7,611$6,953$6,347$5,790$5,279$5,017
10 years$6,780$6,128$5,533$4,991$4,498$4,247
11 years$6,101$5,456$4,871$4,344$3,868$3,628
12 years$5,535$4,897$4,323$3,810$3,352$3,123
13 years$5,057$4,425$3,862$3,364$2,923$2,704
14 years$4,647$4,022$3,470$2,986$2,563$2,354
15 years$4,293$3,675$3,133$2,663$2,256$2,057
16 years$3,983$3,371$2,841$2,384$1,994$1,805
17 years$3,710$3,105$2,585$2,142$1,768$1,589
18 years$3,467$2,869$2,360$1,931$1,572$1,402
19 years$3,250$2,659$2,160$1,744$1,401$1,240
20 years$3,055$2,471$1,983$1,580$1,252$1,099
21 years$2,879$2,302$1,824$1,434$1,120$975
22 years$2,719$2,148$1,681$1,304$1,004$867
23 years$2,574$2,009$1,552$1,187$901$772
24 years$2,440$1,883$1,435$1,083$810$688
25 years$2,318$1,767$1,329$989$729$614
26 years$2,205$1,660$1,233$904$657$549
27 years$2,100$1,563$1,145$828$592$490
28 years$2,004$1,473$1,064$758$534$439
29 years$1,914$1,389$990$695$482$393
30 years$1,830$1,312$923$638$436$352
31 years$1,752$1,240$860$586$394$315
32 years$1,679$1,173$802$539$356$283
33 years$1,610$1,111$749$495$323$253
34 years$1,546$1,053$700$456$292$227
35 years$1,485$999$654$420$265$204
36 years$1,428$948$612$386$240$183
37 years$1,374$901$573$356$217$165
38 years$1,323$856$537$328$197$148
39 years$1,275$814$503$303$179$133
40 years$1,229$774$471$279$162$119
41 years$1,186$737$442$258$147$107
42 years$1,145$702$415$238$133$96
43 years$1,105$669$389$219$121$87
44 years$1,068$638$365$203$110$78
45 years$1,033$608$343$187$100$70
46 years$999$580$322$173$91$63
47 years$966$553$302$160$82$57
48 years$936$528$284$148$75$51
49 years$906$505$267$136$68$46
50 years$878$482$251$126$62$41

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $899,000, adding $4,739 every year, while hoping to spend $29,624 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: 57/15/28 Blend
55$899,000$899,000$899,000$899,000
56$995,586$947,939$934,005$1,044,442
57$1,065,616$962,869$933,774$1,093,439
58$1,141,797$977,537$932,543$1,143,317
59$1,224,723$991,899$930,247$1,197,079
60$1,315,052$1,005,909$926,817$1,255,109
61$1,413,504$1,019,516$922,182$1,317,832
62$1,520,875$1,032,665$916,269$1,385,718
63$1,638,038$1,045,300$908,997$1,459,283
64$1,765,956$1,057,357$900,287$1,539,099
65$1,905,687$1,068,772$890,050$1,625,797
66$2,058,399$1,079,473$878,199$1,720,071
67$2,225,375$1,089,387$864,638$1,822,689
68$2,408,029$1,098,432$849,268$1,934,498
69$2,607,916$1,106,524$831,988$2,056,433
70$2,826,752$1,113,572$812,687$2,189,524
71$3,066,423$1,119,479$791,255$2,334,909
72$3,329,008$1,124,143$767,571$2,493,844
73$3,616,795$1,127,455$741,514$2,667,714
74$3,932,306$1,129,298$712,952$2,858,046
75$4,278,317$1,129,549$681,752$3,066,526
76$4,657,886$1,128,078$647,771$3,295,013
77$5,074,381$1,124,744$610,862$3,545,559
78$5,531,512$1,119,401$570,870$3,820,426
79$6,033,367$1,111,892$527,634$4,122,111
80$6,584,446$1,102,050$480,986$4,453,365
81$7,189,709$1,089,700$430,748$4,817,226
82$7,854,619$1,074,655$376,738$5,217,042
83$8,585,193$1,056,717$318,762$5,656,507
84$9,388,063$1,035,676$256,621$6,139,694
85$10,270,531$1,011,310$190,104$6,671,097
86$11,240,645$983,384$118,992$7,255,669
87$12,307,271$951,649$43,058$7,898,875
88$13,480,174$915,842$0$8,606,738
89$14,770,117$875,683$0$9,397,249
90$16,188,955$830,878$0$10,280,854
91$17,749,752$781,115$0$11,252,830
92$19,466,900$726,063$0$12,322,165
93$21,356,258$665,374$0$13,498,766
94$23,435,297$598,678$0$14,793,549
95$25,723,271$525,587$0$16,218,545
96$28,241,391$445,687$0$17,787,013
97$31,013,032$358,545$0$19,513,565
98$34,063,947$263,700$0$21,414,307
99$37,422,515$160,666$0$23,506,986
100$41,120,004$48,931$0$25,811,161