Can I retire at age 56 with 906,000?

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 $906,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.2%
1 years$74,817$74,150$73,500$72,865$72,246$69,849
2 years$37,038$36,348$35,680$35,031$34,403$32,012
3 years$24,447$23,754$23,087$22,445$21,826$19,516
4 years$18,152$17,462$16,801$16,170$15,567$13,354
5 years$14,377$13,690$13,039$12,420$11,834$9,725
6 years$11,860$11,179$10,537$9,933$9,364$7,361
7 years$10,064$9,388$8,756$8,166$7,615$5,717
8 years$8,717$8,047$7,426$6,850$6,317$4,524
9 years$7,670$7,007$6,396$5,835$5,320$3,628
10 years$6,833$6,176$5,576$5,030$4,533$2,941
11 years$6,148$5,498$4,909$4,377$3,899$2,402
12 years$5,578$4,935$4,357$3,840$3,378$1,975
13 years$5,096$4,460$3,893$3,390$2,946$1,632
14 years$4,684$4,054$3,497$3,009$2,583$1,354
15 years$4,326$3,703$3,158$2,684$2,274$1,127
16 years$4,014$3,398$2,863$2,403$2,010$940
17 years$3,739$3,129$2,605$2,159$1,782$787
18 years$3,494$2,891$2,378$1,946$1,584$659
19 years$3,276$2,680$2,177$1,758$1,412$553
20 years$3,079$2,490$1,998$1,592$1,261$465
21 years$2,902$2,319$1,838$1,445$1,129$391
22 years$2,741$2,165$1,694$1,314$1,012$329
23 years$2,594$2,025$1,564$1,197$908$278
24 years$2,459$1,897$1,446$1,091$816$234
25 years$2,336$1,780$1,340$997$735$197
26 years$2,222$1,673$1,242$911$662$167
27 years$2,117$1,575$1,154$834$597$141
28 years$2,019$1,484$1,073$764$538$119
29 years$1,929$1,400$998$701$486$100
30 years$1,844$1,322$930$643$439$85
31 years$1,765$1,250$867$591$397$72
32 years$1,692$1,183$809$543$359$61
33 years$1,623$1,120$755$499$325$51
34 years$1,558$1,061$705$459$294$43
35 years$1,496$1,007$660$423$267$37
36 years$1,439$956$617$389$242$31
37 years$1,385$908$578$359$219$26
38 years$1,333$863$541$331$198$22
39 years$1,285$820$507$305$180$19
40 years$1,239$780$475$281$163$16
41 years$1,195$743$445$260$148$13
42 years$1,153$707$418$239$134$11
43 years$1,114$674$392$221$122$10
44 years$1,076$642$368$204$111$8
45 years$1,041$613$345$189$100$7
46 years$1,007$584$324$174$91$6
47 years$974$558$305$161$83$5
48 years$943$532$286$149$75$4
49 years$913$508$269$137$68$4
50 years$885$486$253$127$62$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $906,000, adding $6,505 every year, while hoping to spend $54,501 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: 49/28/23 Blend
55$906,000$906,000$906,000$906,000
56$1,005,122$957,104$943,061$1,047,557
57$1,049,656$946,013$916,665$1,066,693
58$1,096,905$932,553$887,558$1,081,464
59$1,147,090$916,548$855,592$1,096,398
60$1,200,450$897,816$820,611$1,111,533
61$1,257,249$876,161$782,454$1,126,916
62$1,317,772$851,378$740,950$1,142,600
63$1,382,336$823,247$695,923$1,158,650
64$1,451,286$791,537$647,188$1,175,140
65$1,524,998$756,003$594,550$1,192,156
66$1,603,889$716,388$537,808$1,209,799
67$1,688,411$672,417$476,750$1,228,183
68$1,779,064$623,800$411,156$1,247,440
69$1,876,394$570,232$340,796$1,267,720
70$1,981,001$511,389$265,428$1,289,197
71$2,093,545$446,928$184,801$1,312,065
72$2,214,749$376,490$98,654$1,336,546
73$2,345,406$299,691$6,712$1,362,894
74$2,486,390$216,128$0$1,391,393
75$2,638,660$125,377$0$1,444,796
76$2,803,270$26,986$0$1,504,252
77$2,981,376$0$0$1,568,596
78$3,174,253$0$0$1,662,868
79$3,383,299$0$0$1,774,137
80$3,610,055$0$0$1,894,918
81$3,856,212$0$0$2,026,123
82$4,123,632$0$0$2,168,756
83$4,414,362$0$0$2,323,920
84$4,730,655$0$0$2,492,830
85$5,074,991$0$0$2,676,823
86$5,450,095$0$0$2,877,369
87$5,858,970$0$0$3,096,088
88$6,304,919$0$0$3,334,760
89$6,791,576$0$0$3,595,348
90$7,322,945$0$0$3,880,010
91$7,903,431$0$0$4,191,122
92$8,537,883$0$0$4,531,301
93$9,231,640$0$0$4,903,428
94$9,990,581$0$0$5,310,675
95$10,821,180$0$0$5,756,535
96$11,730,565$0$0$6,244,853
97$12,726,583$0$0$6,779,867
98$13,817,880$0$0$7,366,240
99$15,013,974$0$0$8,009,110
100$16,325,350$0$0$8,714,136