Can I retire at age 56 with 901,000?

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 $901,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.7%
1 years$74,404$73,741$73,094$72,463$71,847$69,325
2 years$36,834$36,148$35,483$34,838$34,213$31,699
3 years$24,312$23,623$22,960$22,321$21,706$19,279
4 years$18,052$17,365$16,709$16,081$15,481$13,159
5 years$14,297$13,615$12,967$12,352$11,768$9,557
6 years$11,795$11,117$10,479$9,878$9,312$7,214
7 years$10,008$9,336$8,708$8,121$7,573$5,588
8 years$8,669$8,003$7,385$6,813$6,283$4,408
9 years$7,628$6,968$6,361$5,803$5,291$3,525
10 years$6,795$6,142$5,546$5,002$4,508$2,847
11 years$6,114$5,468$4,882$4,353$3,877$2,319
12 years$5,548$4,908$4,333$3,818$3,360$1,900
13 years$5,068$4,435$3,871$3,371$2,930$1,564
14 years$4,658$4,031$3,478$2,993$2,568$1,293
15 years$4,302$3,683$3,140$2,669$2,261$1,073
16 years$3,992$3,379$2,847$2,390$1,999$892
17 years$3,718$3,112$2,591$2,147$1,772$744
18 years$3,475$2,875$2,365$1,935$1,576$621
19 years$3,258$2,665$2,165$1,748$1,404$519
20 years$3,062$2,476$1,987$1,583$1,254$435
21 years$2,886$2,307$1,828$1,437$1,123$364
22 years$2,726$2,153$1,685$1,307$1,006$305
23 years$2,579$2,014$1,555$1,190$903$256
24 years$2,446$1,887$1,438$1,085$812$215
25 years$2,323$1,771$1,332$991$731$181
26 years$2,210$1,664$1,236$906$658$152
27 years$2,105$1,566$1,147$830$593$128
28 years$2,008$1,476$1,067$760$535$108
29 years$1,918$1,392$993$697$483$91
30 years$1,834$1,315$925$640$437$76
31 years$1,756$1,243$862$587$395$64
32 years$1,682$1,176$804$540$357$54
33 years$1,614$1,114$751$496$323$45
34 years$1,549$1,056$702$457$293$38
35 years$1,488$1,001$656$421$265$32
36 years$1,431$950$614$387$240$27
37 years$1,377$903$574$357$218$23
38 years$1,326$858$538$329$197$19
39 years$1,278$816$504$303$179$16
40 years$1,232$776$472$280$162$14
41 years$1,188$739$443$258$147$11
42 years$1,147$704$415$238$134$10
43 years$1,108$670$390$220$121$8
44 years$1,071$639$366$203$110$7
45 years$1,035$609$344$187$100$6
46 years$1,001$581$323$173$91$5
47 years$969$555$303$160$82$4
48 years$938$530$285$148$75$3
49 years$908$506$268$137$68$3
50 years$880$483$252$126$62$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $901,000, adding $3,992 every year, while hoping to spend $55,881 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: 43/42/15 Blend
55$901,000$901,000$901,000$901,000
56$997,020$949,267$935,301$1,035,385
57$1,039,259$936,324$907,177$1,049,754
58$1,083,933$920,874$876,237$1,059,450
59$1,131,233$902,735$842,330$1,068,750
60$1,181,364$881,715$805,293$1,077,640
61$1,234,553$857,609$764,961$1,086,114
62$1,291,047$830,201$721,157$1,094,166
63$1,351,117$799,264$673,698$1,101,795
64$1,415,058$764,554$622,394$1,109,005
65$1,483,193$725,817$567,043$1,115,806
66$1,555,878$682,782$507,439$1,122,214
67$1,633,501$635,161$443,362$1,128,255
68$1,716,488$582,654$374,584$1,133,960
69$1,805,305$524,939$300,868$1,139,374
70$1,900,464$461,679$221,965$1,144,552
71$2,002,527$392,516$137,615$1,149,562
72$2,112,108$317,073$47,549$1,154,488
73$2,229,884$234,951$0$1,159,431
74$2,356,598$145,729$0$1,172,284
75$2,493,063$48,962$0$1,194,044
76$2,640,174$0$0$1,217,309
77$2,798,915$0$0$1,268,125
78$2,970,364$0$0$1,347,536
79$3,155,709$0$0$1,433,473
80$3,356,254$0$0$1,526,554
81$3,573,433$0$0$1,627,455
82$3,808,821$0$0$1,736,922
83$4,064,151$0$0$1,855,773
84$4,341,331$0$0$1,984,911
85$4,642,456$0$0$2,125,325
86$4,969,833$0$0$2,278,108
87$5,325,998$0$0$2,444,458
88$5,713,743$0$0$2,625,696
89$6,136,140$0$0$2,823,276
90$6,596,569$0$0$3,038,796
91$7,098,749$0$0$3,274,017
92$7,646,775$0$0$3,530,876
93$8,245,155$0$0$3,811,507
94$8,898,850$0$0$4,118,257
95$9,613,320$0$0$4,453,712
96$10,394,581$0$0$4,820,718
97$11,249,253$0$0$5,222,409
98$12,184,625$0$0$5,662,238
99$13,208,726$0$0$6,144,004
100$14,330,395$0$0$6,671,893