Can I retire at age 56 with 905,000?

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 $905,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.5%
1 years$74,734$74,068$73,419$72,785$72,166$71,117
2 years$36,997$36,308$35,640$34,993$34,365$33,310
3 years$24,420$23,728$23,062$22,420$21,802$20,775
4 years$18,132$17,442$16,783$16,152$15,550$14,557
5 years$14,361$13,675$13,024$12,407$11,821$10,866
6 years$11,847$11,167$10,526$9,922$9,353$8,438
7 years$10,053$9,378$8,747$8,157$7,607$6,731
8 years$8,707$8,038$7,418$6,843$6,310$5,474
9 years$7,661$6,999$6,389$5,829$5,314$4,516
10 years$6,825$6,169$5,570$5,024$4,528$3,768
11 years$6,141$5,492$4,904$4,373$3,894$3,172
12 years$5,572$4,929$4,352$3,835$3,375$2,689
13 years$5,091$4,455$3,888$3,386$2,943$2,293
14 years$4,678$4,049$3,494$3,006$2,580$1,964
15 years$4,322$3,699$3,154$2,681$2,271$1,690
16 years$4,009$3,394$2,860$2,400$2,007$1,458
17 years$3,734$3,126$2,602$2,157$1,780$1,262
18 years$3,490$2,888$2,376$1,944$1,583$1,095
19 years$3,272$2,677$2,175$1,756$1,411$952
20 years$3,076$2,487$1,996$1,591$1,260$829
21 years$2,899$2,317$1,836$1,443$1,128$723
22 years$2,738$2,163$1,692$1,312$1,011$631
23 years$2,591$2,023$1,562$1,195$907$552
24 years$2,457$1,895$1,445$1,090$815$483
25 years$2,333$1,779$1,338$996$734$423
26 years$2,220$1,672$1,241$910$661$371
27 years$2,114$1,573$1,152$833$596$325
28 years$2,017$1,482$1,071$763$538$285
29 years$1,927$1,398$997$700$486$250
30 years$1,842$1,321$929$643$439$220
31 years$1,763$1,248$866$590$397$193
32 years$1,690$1,181$808$542$359$170
33 years$1,621$1,119$754$499$325$149
34 years$1,556$1,060$705$459$294$131
35 years$1,495$1,006$659$422$266$116
36 years$1,437$955$616$389$241$102
37 years$1,383$907$577$358$219$89
38 years$1,332$862$540$330$198$79
39 years$1,283$819$506$305$180$69
40 years$1,237$779$474$281$163$61
41 years$1,194$742$445$259$148$54
42 years$1,152$707$417$239$134$47
43 years$1,113$673$392$221$122$42
44 years$1,075$642$368$204$111$37
45 years$1,040$612$345$188$100$32
46 years$1,005$584$324$174$91$28
47 years$973$557$305$161$83$25
48 years$942$532$286$149$75$22
49 years$912$508$269$137$68$19
50 years$884$485$253$127$62$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $905,000, adding $6,395 every year, while hoping to spend $34,844 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: 52/28/20 Blend
55$905,000$905,000$905,000$905,000
56$1,003,906$955,941$941,914$1,050,267
57$1,069,231$965,709$936,394$1,092,636
58$1,140,051$974,787$929,522$1,134,551
59$1,216,890$983,105$921,215$1,179,397
60$1,300,324$990,589$911,387$1,227,466
61$1,390,987$997,157$899,948$1,279,079
62$1,489,575$1,002,725$886,804$1,334,589
63$1,596,856$1,007,203$871,855$1,394,391
64$1,713,672$1,010,493$854,999$1,458,917
65$1,840,953$1,012,493$836,128$1,528,647
66$1,979,719$1,013,095$815,128$1,604,112
67$2,131,096$1,012,182$791,880$1,685,897
68$2,296,321$1,009,632$766,261$1,774,650
69$2,476,756$1,005,315$738,142$1,871,087
70$2,673,902$999,091$707,386$1,975,998
71$2,889,408$990,815$673,851$2,090,258
72$3,125,093$980,331$637,391$2,214,832
73$3,382,959$967,473$597,850$2,350,786
74$3,665,209$952,067$555,066$2,499,299
75$3,974,269$933,927$508,870$2,661,671
76$4,312,813$912,858$459,085$2,839,342
77$4,683,783$888,652$405,528$3,033,897
78$5,090,421$861,087$348,005$3,247,089
79$5,536,296$829,932$286,314$3,480,856
80$6,025,339$794,940$220,247$3,737,333
81$6,561,882$755,850$149,584$4,018,881
82$7,150,693$712,387$74,094$4,328,104
83$7,797,028$664,258$0$4,667,879
84$8,506,673$611,155$0$5,042,760
85$9,286,004$552,752$0$5,471,834
86$10,142,044$488,704$0$5,943,196
87$11,082,529$418,647$0$6,461,172
88$12,115,983$342,196$0$7,030,533
89$13,251,794$258,945$0$7,656,539
90$14,500,308$168,464$0$8,344,991
91$15,872,920$70,299$0$9,102,287
92$17,382,186$0$0$9,935,480
93$19,041,940$0$0$10,863,449
94$20,867,421$0$0$11,908,000
95$22,875,423$0$0$13,057,095
96$25,084,446$0$0$14,321,333
97$27,514,875$0$0$15,712,395
98$30,189,170$0$0$17,243,148
99$33,132,078$0$0$18,927,774
100$36,370,867$0$0$20,781,895