Can I retire at age 56 with 899,000?

Use the below retirement simulation to view the chances of a successful retirement.
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%16.2%
1 years$74,239$73,577$72,932$72,302$71,688$69,869
2 years$36,752$36,067$35,404$34,761$34,137$32,317
3 years$24,258$23,570$22,909$22,272$21,658$19,893
4 years$18,012$17,327$16,672$16,045$15,447$13,751
5 years$14,266$13,584$12,938$12,324$11,742$10,120
6 years$11,769$11,093$10,456$9,856$9,291$7,744
7 years$9,986$9,316$8,689$8,103$7,556$6,084
8 years$8,650$7,985$7,369$6,797$6,269$4,871
9 years$7,611$6,953$6,347$5,790$5,279$3,954
10 years$6,780$6,128$5,533$4,991$4,498$3,245
11 years$6,101$5,456$4,871$4,344$3,868$2,685
12 years$5,535$4,897$4,323$3,810$3,352$2,237
13 years$5,057$4,425$3,862$3,364$2,923$1,873
14 years$4,647$4,022$3,470$2,986$2,563$1,576
15 years$4,293$3,675$3,133$2,663$2,256$1,330
16 years$3,983$3,371$2,841$2,384$1,994$1,126
17 years$3,710$3,105$2,585$2,142$1,768$956
18 years$3,467$2,869$2,360$1,931$1,572$813
19 years$3,250$2,659$2,160$1,744$1,401$693
20 years$3,055$2,471$1,983$1,580$1,252$591
21 years$2,879$2,302$1,824$1,434$1,120$505
22 years$2,719$2,148$1,681$1,304$1,004$432
23 years$2,574$2,009$1,552$1,187$901$370
24 years$2,440$1,883$1,435$1,083$810$317
25 years$2,318$1,767$1,329$989$729$272
26 years$2,205$1,660$1,233$904$657$233
27 years$2,100$1,563$1,145$828$592$200
28 years$2,004$1,473$1,064$758$534$172
29 years$1,914$1,389$990$695$482$147
30 years$1,830$1,312$923$638$436$127
31 years$1,752$1,240$860$586$394$109
32 years$1,679$1,173$802$539$356$93
33 years$1,610$1,111$749$495$323$80
34 years$1,546$1,053$700$456$292$69
35 years$1,485$999$654$420$265$59
36 years$1,428$948$612$386$240$51
37 years$1,374$901$573$356$217$44
38 years$1,323$856$537$328$197$38
39 years$1,275$814$503$303$179$33
40 years$1,229$774$471$279$162$28
41 years$1,186$737$442$258$147$24
42 years$1,145$702$415$238$133$21
43 years$1,105$669$389$219$121$18
44 years$1,068$638$365$203$110$15
45 years$1,033$608$343$187$100$13
46 years$999$580$322$173$91$11
47 years$966$553$302$160$82$10
48 years$936$528$284$148$75$8
49 years$906$505$267$136$68$7
50 years$878$482$251$126$62$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $899,000, adding $3,228 every year, while hoping to spend $52,292 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: 24/47/29 Blend
55$899,000$899,000$899,000$899,000
56$994,028$946,381$932,446$1,008,772
57$1,039,780$937,115$908,045$1,012,365
58$1,088,447$925,643$881,073$1,011,597
59$1,140,270$911,801$851,391$1,009,686
60$1,195,514$895,415$818,849$1,006,572
61$1,254,469$876,304$783,293$1,002,195
62$1,317,454$854,272$744,563$996,496
63$1,384,817$829,113$702,488$989,415
64$1,456,939$800,611$656,892$980,893
65$1,534,241$768,535$607,592$970,872
66$1,617,181$732,641$554,394$959,295
67$1,706,264$692,671$497,097$946,109
68$1,802,044$648,352$435,491$931,263
69$1,905,128$599,397$369,355$914,710
70$2,016,184$545,501$298,461$896,407
71$2,135,945$486,340$222,570$876,318
72$2,265,216$421,575$141,430$854,412
73$2,404,881$350,846$54,782$830,669
74$2,555,914$273,772$0$805,077
75$2,719,383$189,953$0$789,297
76$2,896,463$98,963$0$790,527
77$3,088,446$356$0$791,920
78$3,296,751$0$0$793,617
79$3,522,943$0$0$850,784
80$3,768,739$0$0$913,242
81$4,036,029$0$0$981,304
82$4,326,894$0$0$1,055,518
83$4,643,621$0$0$1,136,487
84$4,988,729$0$0$1,224,874
85$5,364,988$0$0$1,321,409
86$5,775,450$0$0$1,426,896
87$6,223,471$0$0$1,542,220
88$6,712,746$0$0$1,668,355
89$7,247,343$0$0$1,806,374
90$7,831,741$0$0$1,957,457
91$8,470,870$0$0$2,122,907
92$9,170,160$0$0$2,304,155
93$9,935,588$0$0$2,502,778
94$10,773,736$0$0$2,720,515
95$11,691,855$0$0$2,959,278
96$12,697,926$0$0$3,221,175
97$13,800,742$0$0$3,508,526
98$15,009,986$0$0$3,823,890
99$16,336,321$0$0$4,170,082
100$17,791,496$0$0$4,550,204