Can I retire at age 56 with 904,000?

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 $904,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.3%
1 years$74,651$73,987$73,338$72,705$72,086$71,097
2 years$36,956$36,268$35,601$34,954$34,327$33,332
3 years$24,393$23,701$23,036$22,395$21,778$20,809
4 years$18,112$17,423$16,764$16,135$15,532$14,596
5 years$14,345$13,660$13,010$12,393$11,808$10,906
6 years$11,834$11,154$10,514$9,911$9,343$8,478
7 years$10,042$9,367$8,737$8,148$7,598$6,770
8 years$8,698$8,030$7,410$6,835$6,304$5,512
9 years$7,653$6,991$6,382$5,822$5,308$4,554
10 years$6,818$6,162$5,564$5,019$4,523$3,804
11 years$6,135$5,486$4,898$4,368$3,890$3,206
12 years$5,566$4,924$4,347$3,831$3,371$2,721
13 years$5,085$4,450$3,884$3,382$2,940$2,323
14 years$4,673$4,045$3,490$3,002$2,577$1,993
15 years$4,317$3,695$3,151$2,678$2,269$1,717
16 years$4,005$3,390$2,857$2,398$2,005$1,484
17 years$3,730$3,122$2,599$2,154$1,778$1,286
18 years$3,486$2,885$2,373$1,941$1,581$1,117
19 years$3,268$2,674$2,172$1,754$1,409$972
20 years$3,072$2,485$1,994$1,589$1,259$848
21 years$2,895$2,314$1,834$1,442$1,126$741
22 years$2,735$2,160$1,690$1,311$1,010$648
23 years$2,588$2,021$1,561$1,194$906$567
24 years$2,454$1,893$1,443$1,089$815$497
25 years$2,331$1,777$1,337$995$733$436
26 years$2,217$1,670$1,240$909$660$383
27 years$2,112$1,571$1,151$832$595$336
28 years$2,015$1,481$1,070$763$537$296
29 years$1,924$1,397$996$699$485$260
30 years$1,840$1,319$928$642$438$229
31 years$1,762$1,247$865$589$396$201
32 years$1,688$1,180$807$542$358$177
33 years$1,619$1,117$753$498$324$156
34 years$1,554$1,059$704$458$294$137
35 years$1,493$1,005$658$422$266$121
36 years$1,436$953$616$389$241$107
37 years$1,382$906$576$358$218$94
38 years$1,330$861$540$330$198$83
39 years$1,282$818$506$304$180$73
40 years$1,236$779$474$281$163$64
41 years$1,192$741$444$259$148$57
42 years$1,151$706$417$239$134$50
43 years$1,112$673$391$221$122$44
44 years$1,074$641$367$204$110$39
45 years$1,038$611$345$188$100$34
46 years$1,004$583$324$174$91$30
47 years$972$557$304$161$83$27
48 years$941$531$286$148$75$24
49 years$911$507$269$137$68$21
50 years$883$485$253$127$62$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $904,000, adding $4,828 every year, while hoping to spend $24,420 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: 45/50/5 Blend
55$904,000$904,000$904,000$904,000
56$1,001,188$953,276$939,264$1,044,660
57$1,077,327$974,004$944,747$1,095,804
58$1,160,413$994,929$949,595$1,148,291
59$1,251,129$1,016,035$953,761$1,204,624
60$1,350,228$1,037,305$957,195$1,265,163
61$1,458,537$1,058,718$959,847$1,330,306
62$1,576,967$1,080,254$961,661$1,400,492
63$1,706,521$1,101,890$962,580$1,476,202
64$1,848,303$1,123,600$962,544$1,557,968
65$2,003,531$1,145,357$961,489$1,646,376
66$2,173,543$1,167,131$959,351$1,742,070
67$2,359,813$1,188,890$956,058$1,845,762
68$2,563,968$1,210,599$951,540$1,958,236
69$2,787,795$1,232,221$945,719$2,080,354
70$3,033,265$1,253,714$938,515$2,213,070
71$3,302,548$1,275,036$929,845$2,357,431
72$3,598,034$1,296,139$919,622$2,514,594
73$3,922,357$1,316,973$907,752$2,685,833
74$4,278,416$1,337,484$894,141$2,872,554
75$4,669,407$1,357,613$878,687$3,076,306
76$5,098,848$1,377,298$861,285$3,298,794
77$5,570,617$1,396,472$841,824$3,541,902
78$6,088,985$1,415,064$820,190$3,807,704
79$6,658,656$1,432,996$796,261$4,098,486
80$7,284,814$1,450,189$769,911$4,416,770
81$7,973,171$1,466,553$741,008$4,765,336
82$8,730,016$1,481,997$709,415$5,147,248
83$9,562,283$1,496,420$674,985$5,565,883
84$10,477,608$1,509,716$637,569$6,024,965
85$11,484,406$1,521,774$597,009$6,528,600
86$12,591,946$1,532,471$553,140$7,081,314
87$13,810,443$1,541,681$505,789$7,688,096
88$15,151,152$1,549,267$454,776$8,354,445
89$16,626,472$1,555,084$399,914$9,086,427
90$18,250,067$1,558,978$341,006$9,890,725
91$20,036,991$1,560,786$277,847$10,774,709
92$22,003,833$1,560,332$210,223$11,746,503
93$24,168,868$1,557,433$137,910$12,815,061
94$26,552,238$1,551,892$60,675$13,990,257
95$29,176,132$1,543,501$0$15,282,973
96$32,065,005$1,532,040$0$16,706,367
97$35,245,798$1,517,273$0$18,276,034
98$38,748,203$1,498,953$0$20,003,325
99$42,604,935$1,476,816$0$21,904,327
100$46,852,042$1,450,584$0$23,996,770