Can I retire at age 56 with 878,000?

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 $878,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.9%
1 years$72,504$71,859$71,228$70,613$70,013$69,455
2 years$35,893$35,225$34,577$33,949$33,340$32,777
3 years$23,691$23,020$22,374$21,751$21,152$20,603
4 years$17,591$16,922$16,282$15,671$15,086$14,554
5 years$13,932$13,267$12,636$12,037$11,468$10,955
6 years$11,494$10,834$10,212$9,626$9,074$8,580
7 years$9,753$9,098$8,486$7,914$7,380$6,905
8 years$8,447$7,799$7,197$6,639$6,122$5,668
9 years$7,433$6,790$6,198$5,655$5,156$4,721
10 years$6,622$5,985$5,404$4,874$4,393$3,977
11 years$5,958$5,328$4,758$4,242$3,778$3,381
12 years$5,406$4,782$4,222$3,721$3,274$2,896
13 years$4,939$4,322$3,772$3,285$2,855$2,495
14 years$4,539$3,928$3,389$2,916$2,503$2,160
15 years$4,193$3,589$3,060$2,601$2,204$1,878
16 years$3,890$3,293$2,775$2,329$1,948$1,639
17 years$3,623$3,032$2,525$2,092$1,727$1,434
18 years$3,386$2,802$2,305$1,886$1,535$1,259
19 years$3,174$2,597$2,110$1,704$1,369$1,107
20 years$2,984$2,413$1,936$1,543$1,222$975
21 years$2,812$2,248$1,781$1,400$1,094$861
22 years$2,656$2,098$1,642$1,273$981$761
23 years$2,514$1,962$1,516$1,160$880$673
24 years$2,383$1,839$1,402$1,058$791$596
25 years$2,264$1,725$1,298$966$712$529
26 years$2,153$1,622$1,204$883$641$470
27 years$2,051$1,526$1,118$808$578$417
28 years$1,957$1,438$1,039$741$522$371
29 years$1,869$1,357$967$679$471$330
30 years$1,787$1,281$901$623$426$293
31 years$1,711$1,211$840$572$385$261
32 years$1,639$1,146$784$526$348$233
33 years$1,572$1,085$732$484$315$207
34 years$1,509$1,029$684$445$285$185
35 years$1,450$976$639$410$258$165
36 years$1,394$926$598$377$234$147
37 years$1,342$880$560$348$212$131
38 years$1,292$836$524$321$192$117
39 years$1,245$795$491$296$174$104
40 years$1,200$756$460$273$158$93
41 years$1,158$720$432$251$144$83
42 years$1,118$686$405$232$130$74
43 years$1,080$653$380$214$118$66
44 years$1,043$623$357$198$107$59
45 years$1,009$594$335$183$97$53
46 years$975$566$314$169$88$47
47 years$944$541$295$156$80$42
48 years$914$516$278$144$73$38
49 years$885$493$261$133$66$34
50 years$857$471$245$123$60$30

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $878,000, adding $2,557 every year, while hoping to spend $57,619 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: 61/12/27 Blend
55$878,000$878,000$878,000$878,000
56$970,194$923,660$910,051$1,022,195
57$1,007,847$907,613$879,231$1,041,820
58$1,047,410$888,848$845,448$1,056,775
59$1,089,017$867,173$808,541$1,071,870
60$1,132,812$842,380$768,343$1,087,131
61$1,178,956$814,253$724,679$1,102,588
62$1,227,620$782,562$677,366$1,118,278
63$1,278,992$747,063$626,214$1,134,243
64$1,333,279$707,498$571,021$1,150,533
65$1,390,703$663,595$511,580$1,167,207
66$1,451,509$615,066$447,672$1,184,331
67$1,515,965$561,606$379,071$1,201,984
68$1,584,362$502,894$305,539$1,220,255
69$1,657,019$438,588$226,827$1,239,248
70$1,734,285$368,329$142,676$1,259,078
71$1,816,543$291,737$52,816$1,279,879
72$1,904,209$208,411$0$1,301,804
73$1,997,743$117,928$0$1,337,437
74$2,097,645$19,838$0$1,391,605
75$2,204,465$0$0$1,449,387
76$2,318,806$0$0$1,522,523
77$2,441,328$0$0$1,603,744
78$2,572,757$0$0$1,690,916
79$2,713,887$0$0$1,784,573
80$2,865,593$0$0$1,885,300
81$3,028,831$0$0$1,993,740
82$3,204,654$0$0$2,110,599
83$3,394,218$0$0$2,236,654
84$3,598,792$0$0$2,372,755
85$3,819,772$0$0$2,519,839
86$4,058,689$0$0$2,678,936
87$4,317,229$0$0$2,851,175
88$4,597,243$0$0$3,037,801
89$4,900,768$0$0$3,240,181
90$5,230,042$0$0$3,459,818
91$5,587,529$0$0$3,698,366
92$5,975,935$0$0$3,957,644
93$6,398,242$0$0$4,239,653
94$6,857,725$0$0$4,546,593
95$7,357,992$0$0$4,880,889
96$7,903,011$0$0$5,245,204
97$8,497,148$0$0$5,642,474
98$9,145,211$0$0$6,075,926
99$9,852,489$0$0$6,549,114
100$10,624,804$0$0$7,065,952