Can I retire at age 56 with 902,000?

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 $902,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.8%
1 years$74,486$73,823$73,176$72,544$71,927$71,087
2 years$36,874$36,188$35,522$34,877$34,251$33,406
3 years$24,339$23,649$22,985$22,346$21,730$20,906
4 years$18,072$17,385$16,727$16,099$15,498$14,701
5 years$14,313$13,630$12,981$12,366$11,781$11,013
6 years$11,808$11,130$10,491$9,889$9,322$8,585
7 years$10,019$9,347$8,718$8,130$7,581$6,874
8 years$8,678$8,012$7,393$6,820$6,290$5,613
9 years$7,636$6,976$6,368$5,809$5,297$4,651
10 years$6,803$6,149$5,552$5,008$4,513$3,897
11 years$6,121$5,474$4,888$4,358$3,881$3,295
12 years$5,554$4,913$4,338$3,823$3,364$2,805
13 years$5,074$4,440$3,875$3,375$2,933$2,403
14 years$4,663$4,036$3,482$2,996$2,571$2,068
15 years$4,307$3,687$3,144$2,672$2,264$1,788
16 years$3,996$3,383$2,850$2,392$2,001$1,550
17 years$3,722$3,115$2,594$2,149$1,774$1,348
18 years$3,479$2,879$2,368$1,937$1,577$1,175
19 years$3,261$2,668$2,168$1,750$1,406$1,027
20 years$3,066$2,479$1,989$1,585$1,256$899
21 years$2,889$2,309$1,830$1,439$1,124$788
22 years$2,729$2,156$1,686$1,308$1,007$692
23 years$2,582$2,016$1,557$1,191$904$608
24 years$2,448$1,889$1,440$1,087$813$535
25 years$2,325$1,773$1,334$992$731$471
26 years$2,212$1,666$1,237$907$659$415
27 years$2,107$1,568$1,149$830$594$366
28 years$2,010$1,477$1,068$761$536$323
29 years$1,920$1,394$994$698$484$285
30 years$1,836$1,316$926$640$437$252
31 years$1,758$1,244$863$588$395$223
32 years$1,684$1,177$805$541$358$197
33 years$1,615$1,115$752$497$324$174
34 years$1,551$1,057$702$457$293$154
35 years$1,490$1,002$657$421$265$136
36 years$1,433$951$614$388$240$121
37 years$1,379$904$575$357$218$107
38 years$1,327$859$538$329$198$95
39 years$1,279$817$504$304$179$84
40 years$1,233$777$473$280$163$74
41 years$1,190$740$443$258$147$66
42 years$1,148$704$416$238$134$58
43 years$1,109$671$390$220$121$52
44 years$1,072$640$366$203$110$46
45 years$1,036$610$344$188$100$40
46 years$1,002$582$323$173$91$36
47 years$970$555$304$160$82$32
48 years$939$530$285$148$75$28
49 years$909$506$268$137$68$25
50 years$881$484$252$126$62$22

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $902,000, adding $4,858 every year, while hoping to spend $54,823 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: 38/32/30 Blend
55$902,000$902,000$902,000$902,000
56$999,015$951,209$937,228$1,027,914
57$1,042,583$939,487$910,294$1,037,958
58$1,088,758$925,353$880,620$1,043,467
59$1,137,747$908,632$848,057$1,048,395
60$1,189,779$889,135$812,448$1,052,725
61$1,245,101$866,667$773,629$1,056,444
62$1,303,985$841,018$731,430$1,059,542
63$1,366,730$811,967$685,672$1,062,017
64$1,433,662$779,279$636,167$1,063,866
65$1,505,138$742,706$582,721$1,065,097
66$1,581,550$701,986$525,130$1,065,722
67$1,663,326$656,842$463,180$1,065,762
68$1,750,938$606,980$396,650$1,065,246
69$1,844,903$552,091$325,306$1,064,216
70$1,945,785$491,846$248,906$1,062,723
71$2,054,208$425,899$167,197$1,060,833
72$2,170,854$353,884$79,915$1,058,626
73$2,296,471$275,415$0$1,056,202
74$2,431,884$190,083$0$1,057,914
75$2,577,995$97,456$0$1,087,243
76$2,735,799$0$0$1,118,842
77$2,906,386$0$0$1,154,035
78$3,090,957$0$0$1,229,340
79$3,290,830$0$0$1,310,990
80$3,507,454$0$0$1,399,591
81$3,742,424$0$0$1,495,807
82$3,997,494$0$0$1,600,372
83$4,274,591$0$0$1,714,090
84$4,575,836$0$0$1,837,847
85$4,903,563$0$0$1,972,619
86$5,260,340$0$0$2,119,478
87$5,648,991$0$0$2,279,604
88$6,072,626$0$0$2,454,297
89$6,534,666$0$0$2,644,988
90$7,038,876$0$0$2,853,250
91$7,589,403$0$0$3,080,817
92$8,190,810$0$0$3,329,596
93$8,848,119$0$0$3,601,689
94$9,566,862$0$0$3,899,408
95$10,353,128$0$0$4,225,300
96$11,213,623$0$0$4,582,170
97$12,155,729$0$0$4,973,106
98$13,187,577$0$0$5,401,510
99$14,318,120$0$0$5,871,128
100$15,557,218$0$0$6,386,084