Can I retire at age 56 with 874,000?

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 $874,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13%
1 years$72,174$71,531$70,904$70,292$69,694$68,823
2 years$35,730$35,064$34,419$33,794$33,188$32,311
3 years$23,583$22,915$22,272$21,652$21,056$20,201
4 years$17,511$16,845$16,208$15,599$15,017$14,191
5 years$13,869$13,207$12,578$11,982$11,416$10,620
6 years$11,441$10,784$10,165$9,582$9,033$8,269
7 years$9,708$9,057$8,447$7,878$7,346$6,615
8 years$8,409$7,763$7,164$6,608$6,094$5,395
9 years$7,399$6,759$6,170$5,629$5,132$4,464
10 years$6,591$5,958$5,379$4,852$4,373$3,736
11 years$5,931$5,304$4,736$4,223$3,761$3,155
12 years$5,381$4,761$4,203$3,704$3,259$2,683
13 years$4,916$4,302$3,755$3,270$2,842$2,295
14 years$4,518$3,911$3,374$2,903$2,491$1,973
15 years$4,174$3,572$3,046$2,589$2,194$1,703
16 years$3,872$3,278$2,762$2,318$1,939$1,475
17 years$3,607$3,019$2,513$2,083$1,719$1,281
18 years$3,371$2,789$2,294$1,877$1,528$1,115
19 years$3,160$2,585$2,100$1,696$1,362$973
20 years$2,970$2,402$1,927$1,536$1,217$850
21 years$2,799$2,238$1,773$1,394$1,089$744
22 years$2,644$2,089$1,634$1,268$976$652
23 years$2,502$1,953$1,509$1,154$876$573
24 years$2,372$1,830$1,395$1,053$788$503
25 years$2,253$1,718$1,292$962$709$442
26 years$2,144$1,614$1,199$879$638$389
27 years$2,042$1,519$1,113$805$576$343
28 years$1,948$1,432$1,035$737$519$302
29 years$1,861$1,351$963$676$469$266
30 years$1,779$1,275$897$620$424$235
31 years$1,703$1,206$836$570$383$207
32 years$1,632$1,141$780$524$346$183
33 years$1,565$1,080$728$482$314$161
34 years$1,503$1,024$681$443$284$143
35 years$1,444$971$636$408$257$126
36 years$1,388$922$595$376$233$111
37 years$1,336$876$557$346$211$98
38 years$1,286$832$522$319$191$87
39 years$1,239$791$489$294$174$77
40 years$1,195$753$458$271$157$68
41 years$1,153$717$430$250$143$60
42 years$1,113$682$403$231$130$53
43 years$1,075$650$378$213$118$47
44 years$1,038$620$355$197$107$42
45 years$1,004$591$333$182$97$37
46 years$971$564$313$168$88$32
47 years$940$538$294$155$80$29
48 years$910$514$276$143$73$25
49 years$881$490$260$133$66$22
50 years$853$469$244$123$60$20

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $874,000, adding $6,390 every year, while hoping to spend $57,381 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: 53/38/9 Blend
55$874,000$874,000$874,000$874,000
56$969,739$923,417$909,870$1,018,611
57$1,007,600$907,612$879,298$1,036,700
58$1,047,399$889,109$845,778$1,049,597
59$1,089,274$867,715$809,152$1,062,270
60$1,133,373$843,227$769,253$1,074,709
61$1,179,861$815,428$725,906$1,086,907
62$1,228,913$784,090$678,930$1,098,860
63$1,280,722$748,971$628,134$1,110,566
64$1,335,499$709,815$573,320$1,122,027
65$1,393,475$666,350$514,281$1,133,252
66$1,454,899$618,290$450,799$1,144,251
67$1,520,045$565,334$382,648$1,155,045
68$1,589,215$507,160$309,591$1,165,658
69$1,662,734$443,430$231,382$1,176,124
70$1,740,963$373,788$147,763$1,186,487
71$1,824,292$297,855$58,464$1,196,799
72$1,913,152$215,232$0$1,207,128
73$2,008,014$125,498$0$1,221,090
74$2,109,392$28,209$0$1,241,465
75$2,217,853$0$0$1,262,775
76$2,334,016$0$0$1,317,428
77$2,458,561$0$0$1,388,728
78$2,592,233$0$0$1,465,313
79$2,735,851$0$0$1,547,660
80$2,890,314$0$0$1,636,293
81$3,056,606$0$0$1,731,785
82$3,235,813$0$0$1,834,769
83$3,429,122$0$0$1,945,936
84$3,637,842$0$0$2,066,049
85$3,863,408$0$0$2,195,945
86$4,107,398$0$0$2,336,544
87$4,371,548$0$0$2,488,857
88$4,657,765$0$0$2,653,997
89$4,968,147$0$0$2,833,186
90$5,304,998$0$0$3,027,769
91$5,670,857$0$0$3,239,227
92$6,068,513$0$0$3,469,186
93$6,501,036$0$0$3,719,436
94$6,971,802$0$0$3,991,949
95$7,484,528$0$0$4,288,892
96$8,043,302$0$0$4,612,650
97$8,652,625$0$0$4,965,850
98$9,317,449$0$0$5,351,381
99$10,043,227$0$0$5,772,426
100$10,835,959$0$0$6,232,486