Can I retire at age 56 with 907,000?

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 $907,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12%
1 years$74,899$74,232$73,581$72,946$72,325$71,719
2 years$37,079$36,388$35,719$35,070$34,441$33,830
3 years$24,474$23,780$23,113$22,470$21,851$21,254
4 years$18,172$17,481$16,820$16,188$15,584$15,006
5 years$14,393$13,705$13,053$12,434$11,847$11,289
6 years$11,873$11,191$10,549$9,944$9,374$8,838
7 years$10,075$9,398$8,766$8,175$7,624$7,109
8 years$8,726$8,056$7,434$6,858$6,324$5,831
9 years$7,678$7,014$6,403$5,841$5,326$4,854
10 years$6,840$6,183$5,582$5,035$4,538$4,087
11 years$6,155$5,504$4,915$4,382$3,903$3,472
12 years$5,584$4,940$4,362$3,844$3,382$2,972
13 years$5,102$4,465$3,897$3,394$2,949$2,559
14 years$4,689$4,058$3,501$3,012$2,585$2,214
15 years$4,331$3,707$3,161$2,687$2,276$1,924
16 years$4,018$3,401$2,866$2,406$2,012$1,678
17 years$3,743$3,132$2,608$2,161$1,784$1,467
18 years$3,498$2,895$2,381$1,948$1,586$1,286
19 years$3,279$2,683$2,180$1,760$1,414$1,131
20 years$3,083$2,493$2,000$1,594$1,263$995
21 years$2,905$2,322$1,840$1,447$1,130$878
22 years$2,744$2,167$1,696$1,315$1,013$775
23 years$2,597$2,027$1,566$1,198$909$686
24 years$2,462$1,899$1,448$1,093$817$607
25 years$2,338$1,782$1,341$998$735$538
26 years$2,224$1,675$1,244$912$662$477
27 years$2,119$1,577$1,155$835$597$423
28 years$2,022$1,486$1,074$765$539$376
29 years$1,931$1,401$999$702$487$334
30 years$1,846$1,324$931$644$440$297
31 years$1,767$1,251$868$591$398$264
32 years$1,694$1,184$810$544$360$235
33 years$1,624$1,121$756$500$325$209
34 years$1,559$1,063$706$460$295$187
35 years$1,498$1,008$660$423$267$166
36 years$1,441$957$618$390$242$148
37 years$1,386$909$578$359$219$132
38 years$1,335$863$541$331$199$118
39 years$1,286$821$507$305$180$105
40 years$1,240$781$475$282$163$93
41 years$1,196$744$446$260$148$83
42 years$1,155$708$418$240$135$74
43 years$1,115$675$392$221$122$66
44 years$1,078$643$368$204$111$59
45 years$1,042$613$346$189$101$53
46 years$1,008$585$325$174$91$47
47 years$975$558$305$161$83$42
48 years$944$533$287$149$75$38
49 years$914$509$270$138$68$33
50 years$886$486$253$127$62$30

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $907,000, adding $4,765 every year, while hoping to spend $47,131 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: 70/5/25 Blend
55$907,000$907,000$907,000$907,000
56$1,004,429$956,358$942,300$1,068,040
57$1,056,734$953,073$923,720$1,107,943
58$1,112,794$948,047$902,938$1,145,684
59$1,172,943$941,145$879,830$1,185,885
60$1,237,546$932,224$854,267$1,228,785
61$1,307,006$921,133$826,115$1,274,653
62$1,381,762$907,710$795,231$1,323,783
63$1,462,298$891,784$761,468$1,376,502
64$1,549,146$873,175$724,671$1,433,170
65$1,642,891$851,692$684,679$1,494,186
66$1,744,173$827,132$641,323$1,559,991
67$1,853,697$799,280$594,426$1,631,071
68$1,972,239$767,910$543,804$1,707,967
69$2,100,650$732,780$489,264$1,791,272
70$2,239,867$693,637$430,605$1,881,643
71$2,390,920$650,213$367,618$1,979,808
72$2,554,943$602,221$300,081$2,086,569
73$2,733,180$549,363$227,767$2,202,811
74$2,927,003$491,321$150,436$2,329,515
75$3,137,919$427,758$67,838$2,467,760
76$3,367,589$358,319$0$2,618,743
77$3,617,837$282,631$0$2,789,198
78$3,890,673$200,297$0$2,994,828
79$4,188,309$110,898$0$3,219,202
80$4,513,178$13,994$0$3,464,173
81$4,867,961$0$0$3,731,783
82$5,255,606$0$0$4,029,283
83$5,679,360$0$0$4,355,383
84$6,142,800$0$0$4,712,072
85$6,649,862$0$0$5,102,385
86$7,204,879$0$0$5,529,664
87$7,812,625$0$0$5,997,592
88$8,478,356$0$0$6,510,221
89$9,207,859$0$0$7,072,016
90$10,007,511$0$0$7,687,893
91$10,884,331$0$0$8,363,267
92$11,846,053$0$0$9,104,103
93$12,901,193$0$0$9,916,969
94$14,059,133$0$0$10,809,101
95$15,330,207$0$0$11,788,469
96$16,725,797$0$0$12,863,854
97$18,258,442$0$0$14,044,926
98$19,941,955$0$0$15,342,339
99$21,791,553$0$0$16,767,831
100$23,823,999$0$0$18,334,332