Can I retire at age 56 with 886,000?

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 $886,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.8%
1 years$73,165$72,513$71,877$71,257$70,651$70,118
2 years$36,220$35,546$34,892$34,258$33,643$33,106
3 years$23,907$23,230$22,577$21,950$21,345$20,819
4 years$17,752$17,076$16,431$15,813$15,223$14,714
5 years$14,059$13,388$12,751$12,146$11,572$11,081
6 years$11,599$10,932$10,305$9,713$9,157$8,684
7 years$9,842$9,181$8,563$7,986$7,447$6,993
8 years$8,524$7,870$7,262$6,699$6,178$5,742
9 years$7,501$6,852$6,255$5,706$5,203$4,786
10 years$6,682$6,040$5,453$4,919$4,433$4,034
11 years$6,013$5,377$4,801$4,281$3,813$3,432
12 years$5,455$4,826$4,261$3,755$3,304$2,941
13 years$4,984$4,361$3,807$3,315$2,881$2,535
14 years$4,580$3,964$3,420$2,943$2,526$2,197
15 years$4,231$3,621$3,088$2,624$2,224$1,911
16 years$3,925$3,323$2,800$2,350$1,965$1,669
17 years$3,656$3,060$2,548$2,111$1,743$1,462
18 years$3,417$2,828$2,326$1,903$1,549$1,283
19 years$3,203$2,621$2,129$1,719$1,381$1,130
20 years$3,011$2,435$1,954$1,557$1,234$996
21 years$2,838$2,268$1,797$1,413$1,104$880
22 years$2,680$2,117$1,656$1,285$989$778
23 years$2,536$1,980$1,529$1,170$888$689
24 years$2,405$1,855$1,414$1,067$798$611
25 years$2,284$1,741$1,310$975$718$542
26 years$2,173$1,636$1,215$891$647$482
27 years$2,070$1,540$1,128$816$583$428
28 years$1,975$1,451$1,049$747$526$381
29 years$1,886$1,369$976$685$475$339
30 years$1,804$1,293$909$629$430$302
31 years$1,726$1,222$848$578$388$269
32 years$1,654$1,156$791$531$351$240
33 years$1,587$1,095$738$488$318$214
34 years$1,523$1,038$690$449$288$191
35 years$1,463$985$645$414$261$170
36 years$1,407$934$603$381$236$152
37 years$1,354$888$565$351$214$136
38 years$1,304$843$529$323$194$121
39 years$1,256$802$496$298$176$108
40 years$1,211$763$464$275$160$97
41 years$1,169$726$435$254$145$86
42 years$1,128$692$409$234$131$77
43 years$1,089$659$383$216$119$69
44 years$1,053$628$360$200$108$62
45 years$1,018$599$338$184$98$55
46 years$984$572$317$170$89$49
47 years$952$545$298$157$81$44
48 years$922$521$280$145$74$39
49 years$893$497$263$134$67$35
50 years$865$475$248$124$61$31

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $886,000, adding $5,533 every year, while hoping to spend $28,043 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: 63/28/9 Blend
55$886,000$886,000$886,000$886,000
56$982,079$935,121$921,388$1,041,723
57$1,052,414$951,105$922,417$1,098,223
58$1,128,983$966,931$922,541$1,156,118
59$1,212,392$982,564$921,699$1,218,617
60$1,303,309$997,963$919,829$1,286,167
61$1,402,468$1,013,085$916,865$1,359,259
62$1,510,677$1,027,883$912,737$1,438,433
63$1,628,826$1,042,309$907,374$1,524,287
64$1,757,895$1,056,311$900,699$1,617,477
65$1,898,960$1,069,830$892,632$1,718,728
66$2,053,209$1,082,807$883,091$1,828,839
67$2,221,950$1,095,178$871,988$1,948,690
68$2,406,620$1,106,873$859,231$2,079,251
69$2,608,805$1,117,819$844,724$2,221,593
70$2,830,248$1,127,938$828,368$2,376,894
71$3,072,873$1,137,146$810,058$2,546,453
72$3,338,794$1,145,354$789,683$2,731,705
73$3,630,343$1,152,468$767,129$2,934,229
74$3,950,086$1,158,387$742,276$3,155,765
75$4,300,850$1,163,003$714,997$3,398,234
76$4,685,749$1,166,203$685,162$3,663,752
77$5,108,214$1,167,866$652,634$3,954,653
78$5,572,023$1,167,862$617,268$4,273,508
79$6,081,337$1,166,056$578,915$4,623,152
80$6,640,743$1,162,301$537,417$5,006,713
81$7,255,289$1,156,444$492,611$5,427,635
82$7,930,541$1,148,322$444,326$5,889,719
83$8,672,627$1,137,761$392,382$6,397,152
84$9,488,301$1,124,578$336,593$6,954,550
85$10,385,003$1,108,577$276,764$7,567,006
86$11,370,928$1,089,552$212,690$8,240,128
87$12,455,107$1,067,285$144,160$8,980,102
88$13,647,490$1,041,543$70,951$9,793,748
89$14,959,037$1,012,082$0$10,688,583
90$16,401,826$978,642$0$11,673,580
91$17,989,164$940,947$0$12,764,503
92$19,735,713$898,708$0$13,964,623
93$21,657,627$851,616$0$15,285,066
94$23,772,706$799,346$0$16,738,093
95$26,100,562$741,553$0$18,337,220
96$28,662,805$677,875$0$20,097,342
97$31,483,246$607,926$0$22,034,878
98$34,588,122$531,300$0$24,167,924
99$38,006,344$447,567$0$26,516,424
100$41,769,767$356,273$0$29,102,362