Can I retire at age 56 with 908,000?

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 $908,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.1%
1 years$74,982$74,314$73,662$73,026$72,405$71,471
2 years$37,120$36,428$35,758$35,109$34,479$33,539
3 years$24,501$23,806$23,138$22,495$21,875$20,958
4 years$18,192$17,500$16,839$16,206$15,601$14,715
5 years$14,408$13,720$13,067$12,448$11,860$11,007
6 years$11,887$11,204$10,560$9,955$9,384$8,566
7 years$10,086$9,409$8,776$8,184$7,632$6,848
8 years$8,736$8,065$7,443$6,866$6,331$5,582
9 years$7,687$7,022$6,410$5,848$5,332$4,617
10 years$6,848$6,190$5,589$5,041$4,543$3,861
11 years$6,162$5,510$4,920$4,387$3,907$3,258
12 years$5,591$4,946$4,366$3,848$3,386$2,769
13 years$5,108$4,470$3,901$3,397$2,953$2,368
14 years$4,694$4,063$3,505$3,016$2,588$2,034
15 years$4,336$3,711$3,165$2,690$2,279$1,754
16 years$4,023$3,405$2,869$2,408$2,014$1,518
17 years$3,747$3,136$2,611$2,164$1,786$1,317
18 years$3,502$2,898$2,383$1,950$1,588$1,146
19 years$3,283$2,686$2,182$1,762$1,415$999
20 years$3,086$2,496$2,002$1,596$1,264$873
21 years$2,908$2,325$1,842$1,448$1,131$763
22 years$2,747$2,170$1,698$1,317$1,014$669
23 years$2,599$2,029$1,567$1,199$910$586
24 years$2,465$1,901$1,450$1,094$818$515
25 years$2,341$1,784$1,343$999$736$452
26 years$2,227$1,677$1,245$913$663$398
27 years$2,121$1,578$1,156$836$598$350
28 years$2,024$1,487$1,075$766$539$308
29 years$1,933$1,403$1,000$702$487$271
30 years$1,848$1,325$932$645$440$239
31 years$1,769$1,253$869$592$398$211
32 years$1,695$1,185$810$544$360$186
33 years$1,626$1,122$757$500$326$164
34 years$1,561$1,064$707$460$295$145
35 years$1,500$1,009$661$424$267$128
36 years$1,442$958$618$390$242$113
37 years$1,388$910$579$360$219$100
38 years$1,336$864$542$331$199$88
39 years$1,288$822$508$306$180$78
40 years$1,241$782$476$282$164$69
41 years$1,198$744$446$260$148$61
42 years$1,156$709$419$240$135$54
43 years$1,116$676$393$222$122$47
44 years$1,079$644$369$205$111$42
45 years$1,043$614$346$189$101$37
46 years$1,009$586$325$175$91$33
47 years$976$559$306$161$83$29
48 years$945$534$287$149$75$25
49 years$915$510$270$138$68$23
50 years$887$487$254$127$62$20

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $908,000, adding $3,520 every year, while hoping to spend $59,980 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: 47/44/9 Blend
55$908,000$908,000$908,000$908,000
56$1,004,247$956,123$942,049$1,048,809
57$1,042,862$939,155$909,789$1,062,868
58$1,083,405$919,345$874,439$1,071,581
59$1,126,010$896,490$835,830$1,079,659
60$1,170,822$870,377$793,790$1,087,061
61$1,217,999$840,779$748,134$1,093,747
62$1,267,712$807,454$698,673$1,099,678
63$1,320,148$770,148$645,208$1,104,815
64$1,375,511$728,593$587,531$1,109,121
65$1,434,023$682,505$525,423$1,112,558
66$1,495,927$631,581$458,659$1,115,093
67$1,561,488$575,505$387,000$1,116,695
68$1,630,995$513,940$310,200$1,117,334
69$1,704,764$446,531$227,999$1,116,988
70$1,783,141$372,902$140,128$1,115,636
71$1,866,504$292,656$46,305$1,113,266
72$1,955,266$205,375$0$1,109,872
73$2,049,881$110,617$0$1,110,623
74$2,150,845$7,913$0$1,115,444
75$2,258,702$0$0$1,119,939
76$2,374,046$0$0$1,174,156
77$2,497,532$0$0$1,236,367
78$2,629,875$0$0$1,303,111
79$2,771,862$0$0$1,374,793
80$2,924,354$0$0$1,451,857
81$3,088,298$0$0$1,534,793
82$3,264,732$0$0$1,624,135
83$3,454,797$0$0$1,720,473
84$3,659,747$0$0$1,824,455
85$3,880,957$0$0$1,936,789
86$4,119,940$0$0$2,058,259
87$4,378,358$0$0$2,189,722
88$4,658,037$0$0$2,332,122
89$4,960,986$0$0$2,486,496
90$5,289,412$0$0$2,653,987
91$5,645,743$0$0$2,835,848
92$6,032,650$0$0$3,033,461
93$6,453,069$0$0$3,248,343
94$6,910,231$0$0$3,482,166
95$7,407,690$0$0$3,736,767
96$7,949,357$0$0$4,014,169
97$8,539,537$0$0$4,316,599
98$9,182,963$0$0$4,646,504
99$9,884,850$0$0$5,006,584
100$10,650,934$0$0$5,399,804