Can I retire at age 56 with 908,000?

Use the below retirement simulation to view the chances of a successful retirement.
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%13.7%
1 years$74,982$74,314$73,662$73,026$72,405$71,294
2 years$37,120$36,428$35,758$35,109$34,479$33,362
3 years$24,501$23,806$23,138$22,495$21,875$20,787
4 years$18,192$17,500$16,839$16,206$15,601$14,551
5 years$14,408$13,720$13,067$12,448$11,860$10,850
6 years$11,887$11,204$10,560$9,955$9,384$8,416
7 years$10,086$9,409$8,776$8,184$7,632$6,706
8 years$8,736$8,065$7,443$6,866$6,331$5,447
9 years$7,687$7,022$6,410$5,848$5,332$4,489
10 years$6,848$6,190$5,589$5,041$4,543$3,741
11 years$6,162$5,510$4,920$4,387$3,907$3,145
12 years$5,591$4,946$4,366$3,848$3,386$2,663
13 years$5,108$4,470$3,901$3,397$2,953$2,268
14 years$4,694$4,063$3,505$3,016$2,588$1,940
15 years$4,336$3,711$3,165$2,690$2,279$1,666
16 years$4,023$3,405$2,869$2,408$2,014$1,436
17 years$3,747$3,136$2,611$2,164$1,786$1,241
18 years$3,502$2,898$2,383$1,950$1,588$1,075
19 years$3,283$2,686$2,182$1,762$1,415$933
20 years$3,086$2,496$2,002$1,596$1,264$811
21 years$2,908$2,325$1,842$1,448$1,131$707
22 years$2,747$2,170$1,698$1,317$1,014$616
23 years$2,599$2,029$1,567$1,199$910$538
24 years$2,465$1,901$1,450$1,094$818$470
25 years$2,341$1,784$1,343$999$736$411
26 years$2,227$1,677$1,245$913$663$359
27 years$2,121$1,578$1,156$836$598$315
28 years$2,024$1,487$1,075$766$539$276
29 years$1,933$1,403$1,000$702$487$242
30 years$1,848$1,325$932$645$440$212
31 years$1,769$1,253$869$592$398$186
32 years$1,695$1,185$810$544$360$163
33 years$1,626$1,122$757$500$326$143
34 years$1,561$1,064$707$460$295$126
35 years$1,500$1,009$661$424$267$110
36 years$1,442$958$618$390$242$97
37 years$1,388$910$579$360$219$85
38 years$1,336$864$542$331$199$75
39 years$1,288$822$508$306$180$66
40 years$1,241$782$476$282$164$58
41 years$1,198$744$446$260$148$51
42 years$1,156$709$419$240$135$45
43 years$1,116$676$393$222$122$39
44 years$1,079$644$369$205$111$35
45 years$1,043$614$346$189$101$30
46 years$1,009$586$325$175$91$27
47 years$976$559$306$161$83$23
48 years$945$534$287$149$75$21
49 years$915$510$270$138$68$18
50 years$887$487$254$127$62$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $908,000, adding $4,830 every year, while hoping to spend $53,276 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: 39/50/11 Blend
55$908,000$908,000$908,000$908,000
56$1,005,598$957,474$943,400$1,041,293
57$1,051,484$947,705$918,319$1,057,230
58$1,100,264$935,672$890,612$1,068,855
59$1,152,179$921,207$860,134$1,080,240
60$1,207,488$904,134$826,736$1,091,388
61$1,266,480$884,264$790,260$1,102,306
62$1,329,467$861,399$750,540$1,113,006
63$1,396,794$835,329$707,404$1,123,506
64$1,468,838$805,831$660,673$1,133,831
65$1,546,011$772,668$610,157$1,144,013
66$1,628,768$735,593$555,661$1,154,094
67$1,717,605$694,340$496,979$1,164,126
68$1,813,069$648,631$433,896$1,174,174
69$1,915,759$598,170$366,188$1,184,315
70$2,026,332$542,647$293,621$1,194,641
71$2,145,512$481,730$215,951$1,205,263
72$2,274,091$415,072$132,923$1,216,310
73$2,412,943$342,304$44,270$1,227,934
74$2,563,024$263,039$0$1,240,311
75$2,725,388$176,863$0$1,259,553
76$2,901,193$83,345$0$1,285,917
77$3,091,712$0$0$1,314,509
78$3,298,343$0$0$1,355,565
79$3,522,625$0$0$1,450,005
80$3,766,252$0$0$1,552,696
81$4,031,084$0$0$1,664,438
82$4,319,171$0$0$1,786,109
83$4,632,766$0$0$1,918,674
84$4,974,348$0$0$2,063,199
85$5,346,646$0$0$2,220,853
86$5,752,663$0$0$2,392,925
87$6,195,704$0$0$2,580,832
88$6,679,409$0$0$2,786,137
89$7,207,781$0$0$3,010,558
90$7,785,230$0$0$3,255,987
91$8,416,610$0$0$3,524,508
92$9,107,265$0$0$3,818,415
93$9,863,080$0$0$4,140,235
94$10,690,535$0$0$4,492,748
95$11,596,764$0$0$4,879,020
96$12,589,627$0$0$5,302,424
97$13,677,777$0$0$5,766,676
98$14,870,744$0$0$6,275,869
99$16,179,025$0$0$6,834,511
100$17,614,182$0$0$7,447,567