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%19.4%
1 years$74,651$73,987$73,338$72,705$72,086$69,363
2 years$36,956$36,268$35,601$34,954$34,327$31,615
3 years$24,393$23,701$23,036$22,395$21,778$19,163
4 years$18,112$17,423$16,764$16,135$15,532$13,034
5 years$14,345$13,660$13,010$12,393$11,808$9,432
6 years$11,834$11,154$10,514$9,911$9,343$7,092
7 years$10,042$9,367$8,737$8,148$7,598$5,471
8 years$8,698$8,030$7,410$6,835$6,304$4,298
9 years$7,653$6,991$6,382$5,822$5,308$3,422
10 years$6,818$6,162$5,564$5,019$4,523$2,752
11 years$6,135$5,486$4,898$4,368$3,890$2,231
12 years$5,566$4,924$4,347$3,831$3,371$1,820
13 years$5,085$4,450$3,884$3,382$2,940$1,491
14 years$4,673$4,045$3,490$3,002$2,577$1,227
15 years$4,317$3,695$3,151$2,678$2,269$1,012
16 years$4,005$3,390$2,857$2,398$2,005$838
17 years$3,730$3,122$2,599$2,154$1,778$695
18 years$3,486$2,885$2,373$1,941$1,581$577
19 years$3,268$2,674$2,172$1,754$1,409$480
20 years$3,072$2,485$1,994$1,589$1,259$400
21 years$2,895$2,314$1,834$1,442$1,126$333
22 years$2,735$2,160$1,690$1,311$1,010$278
23 years$2,588$2,021$1,561$1,194$906$232
24 years$2,454$1,893$1,443$1,089$815$194
25 years$2,331$1,777$1,337$995$733$162
26 years$2,217$1,670$1,240$909$660$135
27 years$2,112$1,571$1,151$832$595$113
28 years$2,015$1,481$1,070$763$537$95
29 years$1,924$1,397$996$699$485$79
30 years$1,840$1,319$928$642$438$66
31 years$1,762$1,247$865$589$396$55
32 years$1,688$1,180$807$542$358$46
33 years$1,619$1,117$753$498$324$39
34 years$1,554$1,059$704$458$294$32
35 years$1,493$1,005$658$422$266$27
36 years$1,436$953$616$389$241$23
37 years$1,382$906$576$358$218$19
38 years$1,330$861$540$330$198$16
39 years$1,282$818$506$304$180$13
40 years$1,236$779$474$281$163$11
41 years$1,192$741$444$259$148$9
42 years$1,151$706$417$239$134$8
43 years$1,112$673$391$221$122$7
44 years$1,074$641$367$204$110$6
45 years$1,038$611$345$188$100$5
46 years$1,004$583$324$174$91$4
47 years$972$557$304$161$83$3
48 years$941$531$286$148$75$3
49 years$911$507$269$137$68$2
50 years$883$485$253$127$62$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $904,000, adding $5,783 every year, while hoping to spend $39,480 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: 61/20/19 Blend
55$904,000$904,000$904,000$904,000
56$1,002,173$954,261$940,249$1,058,049
57$1,062,388$959,014$929,741$1,101,221
58$1,127,422$962,676$917,558$1,143,418
59$1,197,725$965,152$903,601$1,188,563
60$1,273,791$966,342$887,770$1,236,947
61$1,356,163$966,138$869,955$1,288,892
62$1,445,439$964,427$850,046$1,344,754
63$1,542,276$961,086$827,925$1,404,926
64$1,647,396$955,987$803,469$1,469,843
65$1,761,595$948,995$776,550$1,539,986
66$1,885,746$939,965$747,033$1,615,885
67$2,020,812$928,742$714,778$1,698,128
68$2,167,850$915,166$679,638$1,787,362
69$2,328,024$899,063$641,460$1,884,305
70$2,502,617$880,251$600,082$1,989,748
71$2,693,037$858,537$555,339$2,104,567
72$2,900,838$833,716$507,054$2,229,726
73$3,127,728$805,572$455,044$2,366,293
74$3,375,587$773,876$399,119$2,515,448
75$3,646,485$738,385$339,078$2,678,491
76$3,942,703$698,842$274,714$2,856,861
77$4,266,750$654,977$205,808$3,052,145
78$4,621,389$606,501$132,133$3,266,096
79$5,009,664$553,113$53,453$3,500,650
80$5,434,925$494,490$0$3,757,943
81$5,900,861$430,295$0$4,046,520
82$6,411,539$360,168$0$4,374,767
83$6,971,431$283,732$0$4,734,763
84$7,585,470$200,588$0$5,129,738
85$8,259,083$110,312$0$5,563,254
86$8,998,252$12,459$0$6,039,236
87$9,809,563$0$0$6,562,014
88$10,700,273$0$0$7,156,926
89$11,678,374$0$0$7,813,290
90$12,752,672$0$0$8,534,285
91$13,932,866$0$0$9,326,428
92$15,229,642$0$0$10,196,902
93$16,654,771$0$0$11,153,618
94$18,221,222$0$0$12,205,293
95$19,943,282$0$0$13,361,530
96$21,836,693$0$0$14,632,909
97$23,918,796$0$0$16,031,086
98$26,208,698$0$0$17,568,905
99$28,727,452$0$0$19,260,515
100$31,498,250$0$0$21,121,505