Can I retire at age 56 with 885,000?

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 $885,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.4%
1 years$73,082$72,431$71,796$71,176$70,571$69,574
2 years$36,179$35,506$34,853$34,219$33,605$32,603
3 years$23,880$23,203$22,552$21,925$21,321$20,344
4 years$17,732$17,057$16,412$15,796$15,206$14,262
5 years$14,043$13,373$12,736$12,132$11,559$10,651
6 years$11,585$10,920$10,293$9,702$9,147$8,276
7 years$9,830$9,171$8,553$7,977$7,439$6,605
8 years$8,515$7,861$7,254$6,692$6,171$5,374
9 years$7,492$6,844$6,248$5,700$5,197$4,437
10 years$6,674$6,033$5,447$4,913$4,428$3,704
11 years$6,006$5,371$4,795$4,276$3,808$3,120
12 years$5,449$4,820$4,256$3,751$3,300$2,647
13 years$4,978$4,356$3,802$3,311$2,878$2,258
14 years$4,575$3,960$3,416$2,939$2,523$1,936
15 years$4,226$3,617$3,085$2,621$2,221$1,666
16 years$3,921$3,319$2,797$2,347$1,963$1,439
17 years$3,652$3,057$2,545$2,109$1,741$1,246
18 years$3,413$2,824$2,323$1,901$1,548$1,082
19 years$3,200$2,618$2,127$1,717$1,379$941
20 years$3,008$2,432$1,952$1,555$1,232$820
21 years$2,834$2,266$1,795$1,412$1,103$716
22 years$2,677$2,115$1,655$1,283$988$626
23 years$2,534$1,978$1,528$1,169$887$547
24 years$2,402$1,853$1,413$1,066$797$479
25 years$2,282$1,739$1,309$974$718$420
26 years$2,170$1,635$1,214$890$646$369
27 years$2,068$1,538$1,127$815$583$323
28 years$1,972$1,450$1,048$747$526$284
29 years$1,884$1,368$975$685$475$250
30 years$1,801$1,291$908$628$429$219
31 years$1,724$1,221$847$577$388$193
32 years$1,652$1,155$790$530$351$170
33 years$1,585$1,094$738$488$318$149
34 years$1,521$1,037$689$449$287$131
35 years$1,462$983$644$413$260$116
36 years$1,406$933$603$380$236$102
37 years$1,353$887$564$351$214$90
38 years$1,302$843$528$323$194$79
39 years$1,255$801$495$298$176$70
40 years$1,210$762$464$275$159$61
41 years$1,167$726$435$253$145$54
42 years$1,127$691$408$234$131$48
43 years$1,088$658$383$216$119$42
44 years$1,052$628$359$199$108$37
45 years$1,017$598$337$184$98$33
46 years$983$571$317$170$89$29
47 years$951$545$298$157$81$25
48 years$921$520$280$145$73$22
49 years$892$497$263$134$67$20
50 years$864$474$247$124$61$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $885,000, adding $6,822 every year, while hoping to spend $22,721 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: 66/23/11 Blend
55$885,000$885,000$885,000$885,000
56$982,307$935,402$921,684$1,044,339
57$1,058,327$957,062$928,386$1,108,185
58$1,141,340$979,021$934,550$1,174,624
59$1,232,035$1,001,271$940,136$1,246,656
60$1,331,170$1,023,801$945,098$1,324,826
61$1,439,582$1,046,600$949,391$1,409,733
62$1,558,189$1,069,653$952,965$1,502,038
63$1,688,005$1,092,947$955,770$1,602,467
64$1,830,145$1,116,464$957,752$1,711,823
65$1,985,837$1,140,188$958,854$1,830,988
66$2,156,433$1,164,099$959,017$1,960,934
67$2,343,424$1,188,174$958,179$2,102,733
68$2,548,450$1,212,391$956,274$2,257,564
69$2,773,316$1,236,723$953,234$2,426,727
70$3,020,015$1,261,143$948,988$2,611,656
71$3,290,737$1,285,620$943,459$2,813,928
72$3,587,897$1,310,120$936,570$3,035,283
73$3,914,155$1,334,608$928,238$3,277,638
74$4,272,441$1,359,046$918,375$3,543,104
75$4,665,981$1,383,390$906,892$3,834,008
76$5,098,332$1,407,597$893,694$4,152,915
77$5,573,409$1,431,617$878,680$4,502,649
78$6,095,529$1,455,398$861,748$4,886,327
79$6,669,444$1,478,884$842,788$5,307,378
80$7,300,392$1,502,014$821,686$5,769,584
81$7,994,143$1,524,723$798,323$6,277,114
82$8,757,053$1,546,942$772,574$6,834,559
83$9,596,126$1,568,596$744,310$7,446,981
84$10,519,079$1,589,606$713,392$8,119,958
85$11,534,415$1,609,886$679,680$8,859,637
86$12,651,499$1,629,345$643,024$9,672,792
87$13,880,655$1,647,885$603,268$10,566,889
88$15,233,253$1,665,403$560,249$11,550,155
89$16,721,825$1,681,788$513,797$12,631,660
90$18,360,176$1,696,921$463,735$13,821,394
91$20,163,521$1,710,676$409,876$15,130,373
92$22,148,620$1,722,920$352,027$16,570,733
93$24,333,945$1,733,508$289,986$18,155,850
94$26,739,848$1,742,290$223,540$19,900,468
95$29,388,753$1,749,103$152,470$21,820,831
96$32,305,372$1,753,776$76,544$23,934,846
97$35,516,934$1,756,124$0$26,262,244
98$39,053,441$1,755,955$0$28,825,300
99$42,947,957$1,753,062$0$31,657,076
100$47,236,912$1,747,225$0$34,775,023