Can I retire at age 56 with 903,000?

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 $903,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.7%
1 years$74,569$73,905$73,257$72,624$72,006$69,204
2 years$36,915$36,228$35,561$34,915$34,289$31,499
3 years$24,366$23,675$23,011$22,371$21,754$19,066
4 years$18,092$17,404$16,746$16,117$15,515$12,948
5 years$14,329$13,645$12,995$12,379$11,794$9,355
6 years$11,821$11,142$10,502$9,900$9,333$7,022
7 years$10,030$9,357$8,727$8,139$7,590$5,408
8 years$8,688$8,021$7,402$6,828$6,297$4,241
9 years$7,644$6,983$6,375$5,816$5,303$3,371
10 years$6,810$6,156$5,558$5,013$4,518$2,706
11 years$6,128$5,480$4,893$4,363$3,886$2,189
12 years$5,560$4,919$4,342$3,827$3,367$1,782
13 years$5,080$4,445$3,880$3,379$2,936$1,457
14 years$4,668$4,040$3,486$2,999$2,574$1,196
15 years$4,312$3,691$3,147$2,675$2,266$985
16 years$4,001$3,386$2,854$2,395$2,003$813
17 years$3,726$3,119$2,597$2,152$1,776$673
18 years$3,483$2,882$2,370$1,939$1,579$558
19 years$3,265$2,671$2,170$1,752$1,408$463
20 years$3,069$2,482$1,991$1,587$1,257$384
21 years$2,892$2,312$1,832$1,440$1,125$320
22 years$2,732$2,158$1,688$1,310$1,008$266
23 years$2,585$2,018$1,559$1,193$905$222
24 years$2,451$1,891$1,442$1,088$814$185
25 years$2,328$1,775$1,335$993$732$154
26 years$2,215$1,668$1,238$908$660$128
27 years$2,110$1,570$1,150$831$595$107
28 years$2,013$1,479$1,069$762$537$89
29 years$1,922$1,395$995$699$484$75
30 years$1,838$1,318$927$641$438$62
31 years$1,760$1,246$864$589$396$52
32 years$1,686$1,179$806$541$358$43
33 years$1,617$1,116$753$498$324$36
34 years$1,552$1,058$703$458$293$30
35 years$1,492$1,003$657$421$266$25
36 years$1,434$952$615$388$241$21
37 years$1,380$905$576$358$218$18
38 years$1,329$860$539$330$198$15
39 years$1,280$817$505$304$179$12
40 years$1,235$778$473$280$163$10
41 years$1,191$740$444$259$148$9
42 years$1,150$705$416$239$134$7
43 years$1,110$672$391$220$122$6
44 years$1,073$640$367$203$110$5
45 years$1,037$611$344$188$100$4
46 years$1,003$583$323$174$91$3
47 years$971$556$304$160$83$3
48 years$940$531$286$148$75$2
49 years$910$507$268$137$68$2
50 years$882$484$252$127$62$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $903,000, adding $5,229 every year, while hoping to spend $46,792 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: 26/49/25 Blend
55$903,000$903,000$903,000$903,000
56$1,000,500$952,641$938,644$1,018,535
57$1,052,764$949,534$920,302$1,030,424
58$1,108,792$944,706$899,778$1,038,785
59$1,168,916$938,025$876,948$1,046,774
60$1,233,505$929,347$851,685$1,054,390
61$1,302,960$918,523$823,855$1,061,638
62$1,377,725$905,393$793,316$1,068,524
63$1,458,284$889,789$759,923$1,075,065
64$1,545,171$871,530$723,523$1,081,282
65$1,638,972$850,429$683,955$1,087,203
66$1,740,331$826,284$641,051$1,092,866
67$1,849,955$798,882$594,637$1,098,321
68$1,968,623$767,999$544,529$1,103,627
69$2,097,188$733,398$490,537$1,108,857
70$2,236,592$694,825$432,461$1,114,101
71$2,387,868$652,015$370,092$1,119,464
72$2,552,154$604,686$303,213$1,125,070
73$2,730,699$552,542$231,596$1,131,067
74$2,924,880$495,266$155,004$1,137,626
75$3,136,210$432,526$73,189$1,144,945
76$3,366,355$363,972$0$1,153,255
77$3,617,148$289,231$0$1,166,587
78$3,890,606$207,912$0$1,202,558
79$4,188,949$119,601$0$1,242,046
80$4,514,619$23,859$0$1,285,526
81$4,870,308$0$0$1,333,531
82$5,258,976$0$0$1,429,672
83$5,683,882$0$0$1,548,986
84$6,148,616$0$0$1,679,636
85$6,657,130$0$0$1,822,750
86$7,213,776$0$0$1,979,574
87$7,823,344$0$0$2,151,477
88$8,491,111$0$0$2,339,968
89$9,222,889$0$0$2,546,711
90$10,025,078$0$0$2,773,535
91$10,904,725$0$0$3,022,458
92$11,869,595$0$0$3,295,701
93$12,928,238$0$0$3,595,710
94$14,090,073$0$0$3,925,182
95$15,365,474$0$0$4,287,085
96$16,765,871$0$0$4,684,690
97$18,303,850$0$0$5,121,601
98$19,993,282$0$0$5,601,789
99$21,849,442$0$0$6,129,625
100$23,889,161$0$0$6,709,929