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%11.8%
1 years$74,817$74,150$73,500$72,865$72,246$71,700
2 years$37,038$36,348$35,680$35,031$34,403$33,853
3 years$24,447$23,754$23,087$22,445$21,826$21,289
4 years$18,152$17,462$16,801$16,170$15,567$15,046
5 years$14,377$13,690$13,039$12,420$11,834$11,331
6 years$11,860$11,179$10,537$9,933$9,364$8,880
7 years$10,064$9,388$8,756$8,166$7,615$7,151
8 years$8,717$8,047$7,426$6,850$6,317$5,872
9 years$7,670$7,007$6,396$5,835$5,320$4,894
10 years$6,833$6,176$5,576$5,030$4,533$4,125
11 years$6,148$5,498$4,909$4,377$3,899$3,509
12 years$5,578$4,935$4,357$3,840$3,378$3,007
13 years$5,096$4,460$3,893$3,390$2,946$2,593
14 years$4,684$4,054$3,497$3,009$2,583$2,246
15 years$4,326$3,703$3,158$2,684$2,274$1,955
16 years$4,014$3,398$2,863$2,403$2,010$1,707
17 years$3,739$3,129$2,605$2,159$1,782$1,495
18 years$3,494$2,891$2,378$1,946$1,584$1,312
19 years$3,276$2,680$2,177$1,758$1,412$1,155
20 years$3,079$2,490$1,998$1,592$1,261$1,018
21 years$2,902$2,319$1,838$1,445$1,129$900
22 years$2,741$2,165$1,694$1,314$1,012$796
23 years$2,594$2,025$1,564$1,197$908$705
24 years$2,459$1,897$1,446$1,091$816$625
25 years$2,336$1,780$1,340$997$735$555
26 years$2,222$1,673$1,242$911$662$493
27 years$2,117$1,575$1,154$834$597$438
28 years$2,019$1,484$1,073$764$538$390
29 years$1,929$1,400$998$701$486$347
30 years$1,844$1,322$930$643$439$309
31 years$1,765$1,250$867$591$397$275
32 years$1,692$1,183$809$543$359$245
33 years$1,623$1,120$755$499$325$219
34 years$1,558$1,061$705$459$294$195
35 years$1,496$1,007$660$423$267$174
36 years$1,439$956$617$389$242$155
37 years$1,385$908$578$359$219$139
38 years$1,333$863$541$331$198$124
39 years$1,285$820$507$305$180$111
40 years$1,239$780$475$281$163$99
41 years$1,195$743$445$260$148$88
42 years$1,153$707$418$239$134$79
43 years$1,114$674$392$221$122$70
44 years$1,076$642$368$204$111$63
45 years$1,041$613$345$189$100$56
46 years$1,007$584$324$174$91$50
47 years$974$558$305$161$83$45
48 years$943$532$286$149$75$40
49 years$913$508$269$137$68$36
50 years$885$486$253$127$62$32

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $906,000, adding $3,734 every year, while hoping to spend $38,663 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: 32/45/23 Blend
55$906,000$906,000$906,000$906,000
56$1,002,264$954,246$940,203$1,027,140
57$1,063,357$959,867$930,562$1,051,853
58$1,129,387$964,467$919,303$1,074,714
59$1,200,815$967,956$906,330$1,098,549
60$1,278,150$970,238$891,544$1,123,469
61$1,361,950$971,209$874,840$1,149,597
62$1,452,832$970,761$856,110$1,177,073
63$1,551,470$968,777$835,239$1,206,054
64$1,658,608$965,136$812,108$1,236,715
65$1,775,065$959,706$786,592$1,269,255
66$1,901,739$952,349$758,561$1,303,893
67$2,039,621$942,919$727,877$1,340,877
68$2,189,800$931,260$694,399$1,380,485
69$2,353,475$917,207$657,976$1,423,025
70$2,531,965$900,585$618,453$1,468,844
71$2,726,721$881,209$575,667$1,518,327
72$2,939,341$858,884$529,447$1,571,905
73$3,171,586$833,401$479,616$1,630,058
74$3,425,391$804,541$425,986$1,693,322
75$3,702,889$772,072$368,365$1,762,291
76$4,006,428$735,747$306,549$1,837,631
77$4,338,591$695,306$240,325$1,920,079
78$4,702,225$650,474$169,474$2,010,457
79$5,100,465$600,960$93,764$2,109,677
80$5,536,761$546,456$12,954$2,218,755
81$6,014,915$486,637$0$2,338,818
82$6,539,113$421,158$0$2,489,101
83$7,113,966$349,658$0$2,657,572
84$7,744,551$271,752$0$2,842,658
85$8,436,462$187,035$0$3,046,138
86$9,195,860$95,079$0$3,269,982
87$10,029,531$0$0$3,516,371
88$10,944,951$0$0$3,789,977
89$11,950,355$0$0$4,142,328
90$13,054,814$0$0$4,529,542
91$14,268,322$0$0$4,955,139
92$15,601,888$0$0$5,423,000
93$17,067,641$0$0$5,937,399
94$18,678,944$0$0$6,503,047
95$20,450,516$0$0$7,125,131
96$22,398,579$0$0$7,809,370
97$24,541,000$0$0$8,562,062
98$26,897,467$0$0$9,390,146
99$29,489,673$0$0$10,301,270
100$32,341,517$0$0$11,303,858