Can I retire at age 56 with 900,000?

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 $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%13.8%
1 years$74,321$73,659$73,013$72,383$71,767$70,636
2 years$36,793$36,107$35,443$34,799$34,175$33,039
3 years$24,285$23,597$22,934$22,296$21,682$20,575
4 years$18,032$17,346$16,690$16,063$15,464$14,396
5 years$14,281$13,599$12,952$12,338$11,755$10,729
6 years$11,782$11,105$10,467$9,867$9,302$8,317
7 years$9,997$9,326$8,698$8,112$7,565$6,624
8 years$8,659$7,994$7,377$6,805$6,276$5,377
9 years$7,619$6,960$6,354$5,796$5,285$4,429
10 years$6,787$6,135$5,539$4,997$4,503$3,689
11 years$6,108$5,462$4,877$4,348$3,873$3,099
12 years$5,541$4,902$4,328$3,814$3,356$2,622
13 years$5,063$4,430$3,867$3,367$2,927$2,231
14 years$4,653$4,027$3,474$2,989$2,565$1,908
15 years$4,298$3,679$3,137$2,666$2,259$1,638
16 years$3,987$3,375$2,844$2,387$1,996$1,410
17 years$3,714$3,108$2,588$2,145$1,770$1,218
18 years$3,471$2,872$2,362$1,933$1,574$1,054
19 years$3,254$2,662$2,163$1,746$1,403$914
20 years$3,059$2,474$1,985$1,582$1,253$794
21 years$2,883$2,304$1,826$1,436$1,121$691
22 years$2,722$2,151$1,683$1,305$1,005$602
23 years$2,577$2,012$1,554$1,189$902$525
24 years$2,443$1,885$1,437$1,084$811$459
25 years$2,320$1,769$1,331$990$730$401
26 years$2,207$1,662$1,234$905$657$350
27 years$2,103$1,564$1,146$829$593$307
28 years$2,006$1,474$1,065$759$535$268
29 years$1,916$1,391$991$696$483$235
30 years$1,832$1,313$924$639$436$206
31 years$1,754$1,242$861$587$394$180
32 years$1,680$1,175$803$539$357$158
33 years$1,612$1,113$750$496$323$139
34 years$1,547$1,054$701$456$292$122
35 years$1,487$1,000$655$420$265$107
36 years$1,429$949$613$387$240$94
37 years$1,375$902$574$356$217$82
38 years$1,324$857$537$329$197$72
39 years$1,276$815$503$303$179$63
40 years$1,230$775$472$279$162$56
41 years$1,187$738$442$258$147$49
42 years$1,146$703$415$238$133$43
43 years$1,107$670$389$220$121$38
44 years$1,069$638$366$203$110$33
45 years$1,034$609$343$187$100$29
46 years$1,000$581$322$173$91$26
47 years$968$554$303$160$82$22
48 years$937$529$285$148$75$20
49 years$907$505$267$136$68$17
50 years$879$482$251$126$62$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $900,000, adding $5,985 every year, while hoping to spend $53,493 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: 47/24/29 Blend
55$900,000$900,000$900,000$900,000
56$997,974$950,274$936,324$1,036,333
57$1,042,851$939,921$910,774$1,053,692
58$1,090,512$927,268$882,576$1,066,866
59$1,141,186$912,146$851,584$1,080,144
60$1,195,122$894,375$817,646$1,093,566
61$1,252,590$873,766$780,604$1,107,177
62$1,313,891$850,117$740,291$1,121,032
63$1,379,351$823,216$696,534$1,135,195
64$1,449,329$792,837$649,151$1,149,739
65$1,524,216$758,742$597,954$1,164,753
66$1,604,445$720,679$542,744$1,180,336
67$1,690,486$678,380$483,314$1,196,603
68$1,782,859$631,564$419,448$1,213,689
69$1,882,133$579,933$350,921$1,231,744
70$1,988,931$523,170$277,498$1,250,943
71$2,103,939$460,942$198,931$1,271,483
72$2,227,910$392,898$114,965$1,293,588
73$2,361,672$318,665$25,331$1,317,513
74$2,506,132$237,849$0$1,343,546
75$2,662,290$150,036$0$1,393,772
76$2,831,243$54,787$0$1,456,578
77$3,014,197$0$0$1,524,625
78$3,212,479$0$0$1,611,246
79$3,427,546$0$0$1,720,981
80$3,661,004$0$0$1,840,188
81$3,914,615$0$0$1,969,779
82$4,190,320$0$0$2,110,759
83$4,490,255$0$0$2,264,231
84$4,816,767$0$0$2,431,409
85$5,172,442$0$0$2,613,630
86$5,560,123$0$0$2,812,366
87$5,982,940$0$0$3,029,235
88$6,444,339$0$0$3,266,021
89$6,948,111$0$0$3,524,684
90$7,498,431$0$0$3,807,385
91$8,099,895$0$0$4,116,502
92$8,757,561$0$0$4,454,653
93$9,477,001$0$0$4,824,721
94$10,264,348$0$0$5,229,880
95$11,126,357$0$0$5,673,626
96$12,070,464$0$0$6,159,808
97$13,104,861$0$0$6,692,667
98$14,238,567$0$0$7,276,870
99$15,481,517$0$0$7,917,561
100$16,844,652$0$0$8,620,404