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%15.7%
1 years$74,899$74,232$73,581$72,946$72,325$70,634
2 years$37,079$36,388$35,719$35,070$34,441$32,747
3 years$24,474$23,780$23,113$22,470$21,851$20,206
4 years$18,172$17,481$16,820$16,188$15,584$14,002
5 years$14,393$13,705$13,053$12,434$11,847$10,332
6 years$11,873$11,191$10,549$9,944$9,374$7,928
7 years$10,075$9,398$8,766$8,175$7,624$6,246
8 years$8,726$8,056$7,434$6,858$6,324$5,015
9 years$7,678$7,014$6,403$5,841$5,326$4,084
10 years$6,840$6,183$5,582$5,035$4,538$3,362
11 years$6,155$5,504$4,915$4,382$3,903$2,791
12 years$5,584$4,940$4,362$3,844$3,382$2,332
13 years$5,102$4,465$3,897$3,394$2,949$1,960
14 years$4,689$4,058$3,501$3,012$2,585$1,654
15 years$4,331$3,707$3,161$2,687$2,276$1,402
16 years$4,018$3,401$2,866$2,406$2,012$1,191
17 years$3,743$3,132$2,608$2,161$1,784$1,015
18 years$3,498$2,895$2,381$1,948$1,586$866
19 years$3,279$2,683$2,180$1,760$1,414$741
20 years$3,083$2,493$2,000$1,594$1,263$634
21 years$2,905$2,322$1,840$1,447$1,130$544
22 years$2,744$2,167$1,696$1,315$1,013$467
23 years$2,597$2,027$1,566$1,198$909$402
24 years$2,462$1,899$1,448$1,093$817$345
25 years$2,338$1,782$1,341$998$735$297
26 years$2,224$1,675$1,244$912$662$256
27 years$2,119$1,577$1,155$835$597$221
28 years$2,022$1,486$1,074$765$539$190
29 years$1,931$1,401$999$702$487$164
30 years$1,846$1,324$931$644$440$141
31 years$1,767$1,251$868$591$398$122
32 years$1,694$1,184$810$544$360$105
33 years$1,624$1,121$756$500$325$91
34 years$1,559$1,063$706$460$295$78
35 years$1,498$1,008$660$423$267$68
36 years$1,441$957$618$390$242$59
37 years$1,386$909$578$359$219$51
38 years$1,335$863$541$331$199$44
39 years$1,286$821$507$305$180$38
40 years$1,240$781$475$282$163$33
41 years$1,196$744$446$260$148$28
42 years$1,155$708$418$240$135$24
43 years$1,115$675$392$221$122$21
44 years$1,078$643$368$204$111$18
45 years$1,042$613$346$189$101$16
46 years$1,008$585$325$174$91$14
47 years$975$558$305$161$83$12
48 years$944$533$287$149$75$10
49 years$914$509$270$138$68$9
50 years$886$486$253$127$62$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $907,000, adding $3,088 every year, while hoping to spend $55,977 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: 58/22/20 Blend
55$907,000$907,000$907,000$907,000
56$1,002,699$954,628$940,570$1,055,366
57$1,045,416$941,846$912,520$1,078,729
58$1,090,613$926,561$881,654$1,097,854
59$1,138,485$908,592$847,819$1,117,460
60$1,189,244$887,747$810,854$1,137,604
61$1,243,121$863,821$770,592$1,158,355
62$1,300,370$836,598$726,858$1,179,786
63$1,361,267$805,851$679,467$1,201,986
64$1,426,116$771,338$628,229$1,225,052
65$1,495,249$732,802$572,943$1,249,097
66$1,569,028$689,974$513,401$1,274,247
67$1,647,854$642,567$449,385$1,300,646
68$1,732,161$590,279$380,665$1,328,456
69$1,822,428$532,789$307,004$1,357,861
70$1,919,181$469,761$228,154$1,389,066
71$2,022,994$400,837$143,854$1,422,303
72$2,134,501$325,639$53,835$1,457,835
73$2,254,394$243,769$0$1,495,952
74$2,383,434$154,805$0$1,545,998
75$2,522,458$58,304$0$1,612,172
76$2,672,383$0$0$1,683,454
77$2,834,219$0$0$1,771,558
78$3,009,074$0$0$1,882,059
79$3,198,165$0$0$2,001,620
80$3,402,832$0$0$2,131,096
81$3,624,546$0$0$2,271,425
82$3,864,926$0$0$2,423,641
83$4,125,751$0$0$2,588,880
84$4,408,978$0$0$2,768,391
85$4,716,760$0$0$2,963,549
86$5,051,464$0$0$3,175,865
87$5,415,697$0$0$3,407,004
88$5,812,324$0$0$3,658,796
89$6,244,500$0$0$3,933,255
90$6,715,697$0$0$4,232,599
91$7,229,736$0$0$4,559,268
92$7,790,820$0$0$4,915,947
93$8,403,581$0$0$5,305,595
94$9,073,113$0$0$5,731,465
95$9,805,027$0$0$6,197,143
96$10,605,499$0$0$6,706,573
97$11,481,331$0$0$7,264,100
98$12,440,011$0$0$7,874,510
99$13,489,786$0$0$8,543,069
100$14,639,735$0$0$9,275,580