Can I retire at age 56 with 900,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $900,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.7%
1 years$74,321$73,659$73,013$72,383$71,767$69,806
2 years$36,793$36,107$35,443$34,799$34,175$32,213
3 years$24,285$23,597$22,934$22,296$21,682$19,781
4 years$18,032$17,346$16,690$16,063$15,464$13,639
5 years$14,281$13,599$12,952$12,338$11,755$10,011
6 years$11,782$11,105$10,467$9,867$9,302$7,640
7 years$9,997$9,326$8,698$8,112$7,565$5,985
8 years$8,659$7,994$7,377$6,805$6,276$4,778
9 years$7,619$6,960$6,354$5,796$5,285$3,867
10 years$6,787$6,135$5,539$4,997$4,503$3,164
11 years$6,108$5,462$4,877$4,348$3,873$2,609
12 years$5,541$4,902$4,328$3,814$3,356$2,167
13 years$5,063$4,430$3,867$3,367$2,927$1,809
14 years$4,653$4,027$3,474$2,989$2,565$1,516
15 years$4,298$3,679$3,137$2,666$2,259$1,275
16 years$3,987$3,375$2,844$2,387$1,996$1,076
17 years$3,714$3,108$2,588$2,145$1,770$910
18 years$3,471$2,872$2,362$1,933$1,574$771
19 years$3,254$2,662$2,163$1,746$1,403$655
20 years$3,059$2,474$1,985$1,582$1,253$556
21 years$2,883$2,304$1,826$1,436$1,121$474
22 years$2,722$2,151$1,683$1,305$1,005$403
23 years$2,577$2,012$1,554$1,189$902$344
24 years$2,443$1,885$1,437$1,084$811$294
25 years$2,320$1,769$1,331$990$730$251
26 years$2,207$1,662$1,234$905$657$214
27 years$2,103$1,564$1,146$829$593$183
28 years$2,006$1,474$1,065$759$535$156
29 years$1,916$1,391$991$696$483$134
30 years$1,832$1,313$924$639$436$114
31 years$1,754$1,242$861$587$394$98
32 years$1,680$1,175$803$539$357$84
33 years$1,612$1,113$750$496$323$72
34 years$1,547$1,054$701$456$292$61
35 years$1,487$1,000$655$420$265$53
36 years$1,429$949$613$387$240$45
37 years$1,375$902$574$356$217$39
38 years$1,324$857$537$329$197$33
39 years$1,276$815$503$303$179$28
40 years$1,230$775$472$279$162$24
41 years$1,187$738$442$258$147$21
42 years$1,146$703$415$238$133$18
43 years$1,107$670$389$220$121$15
44 years$1,069$638$366$203$110$13
45 years$1,034$609$343$187$100$11
46 years$1,000$581$322$173$91$10
47 years$968$554$303$160$82$8
48 years$937$529$285$148$75$7
49 years$907$505$267$136$68$6
50 years$879$482$251$126$62$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $900,000, adding $5,825 every year, while hoping to spend $23,054 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: 80/6/14 Blend
55$900,000$900,000$900,000$900,000
56$997,808$950,108$936,158$1,074,384
57$1,075,056$972,135$942,991$1,147,585
58$1,159,409$994,467$949,279$1,224,336
59$1,251,570$1,017,097$954,981$1,307,905
60$1,352,309$1,040,014$960,051$1,398,966
61$1,462,476$1,063,205$964,444$1,498,260
62$1,583,004$1,086,659$968,109$1,606,603
63$1,714,925$1,110,359$970,995$1,724,893
64$1,859,370$1,134,290$973,046$1,854,123
65$2,017,589$1,158,433$974,206$1,995,382
66$2,190,956$1,182,769$974,415$2,149,872
67$2,380,985$1,207,276$973,610$2,318,919
68$2,589,344$1,231,931$971,723$2,503,980
69$2,817,868$1,256,706$968,687$2,706,664
70$3,068,580$1,281,575$964,428$2,928,741
71$3,343,709$1,306,506$958,870$3,172,163
72$3,645,708$1,331,465$951,933$3,439,079
73$3,977,281$1,356,417$943,533$3,731,859
74$4,341,405$1,381,323$933,583$4,053,111
75$4,741,360$1,406,140$921,990$4,405,714
76$5,180,761$1,430,823$908,659$4,792,834
77$5,663,588$1,455,322$893,488$5,217,965
78$6,194,226$1,479,585$876,372$5,684,955
79$6,777,507$1,503,555$857,201$6,198,043
80$7,418,754$1,527,171$835,858$6,761,901
81$8,123,832$1,550,367$812,224$7,381,679
82$8,899,201$1,573,073$786,172$8,063,049
83$9,751,980$1,595,215$757,569$8,812,263
84$10,690,012$1,616,710$726,278$9,636,212
85$11,721,938$1,637,474$692,153$10,542,487
86$12,857,279$1,657,413$655,044$11,539,453
87$14,106,526$1,676,431$614,792$12,636,332
88$15,481,236$1,694,421$571,232$13,843,281
89$16,994,146$1,711,271$524,192$15,171,497
90$18,659,289$1,726,863$473,492$16,633,318
91$20,492,126$1,741,069$418,944$18,242,341
92$22,509,694$1,753,752$360,350$20,013,547
93$24,730,766$1,764,770$297,505$21,963,449
94$27,176,028$1,773,967$230,195$24,110,242
95$29,868,272$1,781,181$158,196$26,473,978
96$32,832,615$1,786,238$81,274$29,076,755
97$36,096,730$1,788,952$0$31,942,924
98$39,691,114$1,789,128$0$35,099,442
99$43,649,369$1,786,556$0$38,588,725
100$48,008,523$1,781,016$0$42,431,249