Can I retire at age 56 with 890,000?

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 $890,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.1%
1 years$73,495$72,841$72,202$71,579$70,970$69,765
2 years$36,384$35,706$35,050$34,413$33,795$32,585
3 years$24,015$23,334$22,679$22,049$21,441$20,264
4 years$17,832$17,153$16,505$15,885$15,292$14,156
5 years$14,123$13,448$12,808$12,201$11,625$10,533
6 years$11,651$10,982$10,351$9,757$9,198$8,153
7 years$9,886$9,222$8,602$8,022$7,481$6,482
8 years$8,563$7,905$7,295$6,729$6,206$5,253
9 years$7,534$6,883$6,283$5,732$5,226$4,319
10 years$6,712$6,067$5,478$4,941$4,453$3,590
11 years$6,040$5,401$4,823$4,300$3,830$3,011
12 years$5,480$4,848$4,280$3,772$3,319$2,543
13 years$5,006$4,381$3,824$3,330$2,894$2,159
14 years$4,601$3,982$3,436$2,956$2,537$1,843
15 years$4,250$3,638$3,102$2,636$2,234$1,578
16 years$3,943$3,338$2,812$2,360$1,974$1,356
17 years$3,673$3,074$2,559$2,121$1,750$1,169
18 years$3,432$2,840$2,336$1,911$1,556$1,010
19 years$3,218$2,632$2,139$1,727$1,387$874
20 years$3,025$2,446$1,963$1,564$1,239$757
21 years$2,851$2,278$1,805$1,420$1,109$658
22 years$2,692$2,127$1,664$1,291$994$572
23 years$2,548$1,989$1,536$1,175$892$497
24 years$2,416$1,864$1,421$1,072$802$433
25 years$2,295$1,749$1,316$979$722$378
26 years$2,183$1,644$1,221$895$650$329
27 years$2,079$1,547$1,133$819$586$288
28 years$1,984$1,458$1,054$751$529$251
29 years$1,895$1,375$980$688$477$219
30 years$1,812$1,299$913$632$431$192
31 years$1,734$1,228$851$580$390$168
32 years$1,662$1,162$794$533$353$147
33 years$1,594$1,100$742$490$319$128
34 years$1,530$1,043$693$451$289$112
35 years$1,470$989$648$415$262$98
36 years$1,414$939$606$383$237$86
37 years$1,360$892$567$352$215$75
38 years$1,310$847$531$325$195$66
39 years$1,262$806$498$300$177$58
40 years$1,217$767$467$276$160$51
41 years$1,174$730$437$255$145$44
42 years$1,133$695$410$235$132$39
43 years$1,094$662$385$217$120$34
44 years$1,057$631$361$201$109$30
45 years$1,022$602$339$185$99$26
46 years$989$574$319$171$90$23
47 years$957$548$299$158$81$20
48 years$926$523$281$146$74$18
49 years$897$499$265$135$67$15
50 years$869$477$249$125$61$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $890,000, adding $2,094 every year, while hoping to spend $48,949 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: 43/48/9 Blend
55$890,000$890,000$890,000$890,000
56$982,940$935,770$921,975$1,022,560
57$1,031,118$929,541$900,780$1,044,101
58$1,082,571$921,367$877,234$1,062,291
59$1,137,579$911,100$851,207$1,080,886
60$1,196,452$898,584$822,563$1,099,940
61$1,259,530$883,654$791,158$1,119,519
62$1,327,184$866,136$756,845$1,139,696
63$1,399,824$845,843$719,466$1,160,557
64$1,477,897$822,580$678,859$1,182,201
65$1,561,895$796,139$634,853$1,204,741
66$1,652,358$766,300$587,270$1,228,305
67$1,749,879$732,829$535,925$1,253,040
68$1,855,111$695,482$480,622$1,279,114
69$1,968,768$653,997$421,159$1,306,714
70$2,091,639$608,099$357,324$1,336,057
71$2,224,587$557,496$288,895$1,367,384
72$2,368,563$501,882$215,642$1,400,971
73$2,524,612$440,930$137,321$1,437,125
74$2,693,884$374,297$53,683$1,476,195
75$2,877,642$301,619$0$1,518,572
76$3,077,276$222,513$0$1,568,114
77$3,294,315$136,574$0$1,627,621
78$3,530,442$43,373$0$1,692,515
79$3,787,507$0$0$1,763,444
80$4,067,547$0$0$1,871,527
81$4,372,803$0$0$2,014,414
82$4,705,742$0$0$2,170,363
83$5,069,079$0$0$2,340,660
84$5,465,801$0$0$2,526,717
85$5,899,198$0$0$2,730,093
86$6,372,893$0$0$2,952,501
87$6,890,872$0$0$3,195,828
88$7,457,525$0$0$3,462,154
89$8,077,685$0$0$3,753,766
90$8,756,676$0$0$4,073,184
91$9,500,359$0$0$4,423,183
92$10,315,188$0$0$4,806,820
93$11,208,272$0$0$5,227,461
94$12,187,440$0$0$5,688,814
95$13,261,315$0$0$6,194,961
96$14,439,394$0$0$6,750,400
97$15,732,138$0$0$7,360,087
98$17,151,070$0$0$8,029,477
99$18,708,881$0$0$8,764,583
100$20,419,554$0$0$9,572,027