Can I retire at age 56 with 903,000?

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 $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 $5,033 every year, while hoping to spend $53,958 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: 48/43/9 Blend
55$903,000$903,000$903,000$903,000
56$1,000,298$952,439$938,442$1,045,644
57$1,044,917$941,697$912,469$1,066,557
58$1,092,279$928,621$883,817$1,083,179
59$1,142,607$913,039$852,340$1,099,980
60$1,196,144$894,769$817,885$1,116,994
61$1,253,157$873,619$780,290$1,134,259
62$1,313,938$849,385$739,389$1,151,824
63$1,378,807$821,852$695,006$1,169,744
64$1,448,114$790,792$646,957$1,188,084
65$1,522,244$755,962$595,053$1,206,921
66$1,601,617$717,109$539,091$1,226,345
67$1,686,695$673,961$478,864$1,246,458
68$1,777,986$626,232$414,154$1,267,379
69$1,876,044$573,621$344,732$1,289,245
70$1,981,480$515,809$270,360$1,312,213
71$2,094,965$452,457$190,791$1,336,463
72$2,217,233$383,209$105,764$1,362,197
73$2,349,093$307,689$15,009$1,389,649
74$2,491,432$225,497$0$1,419,083
75$2,645,226$136,214$0$1,458,657
76$2,811,546$39,396$0$1,502,899
77$2,991,571$0$0$1,550,778
78$3,186,596$0$0$1,633,713
79$3,398,045$0$0$1,743,927
80$3,627,483$0$0$1,863,606
81$3,876,634$0$0$1,993,658
82$4,147,391$0$0$2,135,085
83$4,441,839$0$0$2,288,986
84$4,762,270$0$0$2,456,573
85$5,111,207$0$0$2,639,179
86$5,491,426$0$0$2,838,269
87$5,905,981$0$0$3,055,459
88$6,358,236$0$0$3,292,523
89$6,851,891$0$0$3,551,419
90$7,391,020$0$0$3,834,299
91$7,980,107$0$0$4,143,532
92$8,624,091$0$0$4,481,728
93$9,328,406$0$0$4,851,760
94$10,099,037$0$0$5,256,792
95$10,942,576$0$0$5,700,307
96$11,866,280$0$0$6,186,141
97$12,878,139$0$0$6,718,518
98$13,986,955$0$0$7,302,092
99$15,202,420$0$0$7,941,987
100$16,535,210$0$0$8,643,845