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%11.4%
1 years$74,982$74,314$73,662$73,026$72,405$71,979
2 years$37,120$36,428$35,758$35,109$34,479$34,049
3 years$24,501$23,806$23,138$22,495$21,875$21,454
4 years$18,192$17,500$16,839$16,206$15,601$15,194
5 years$14,408$13,720$13,067$12,448$11,860$11,466
6 years$11,887$11,204$10,560$9,955$9,384$9,005
7 years$10,086$9,409$8,776$8,184$7,632$7,267
8 years$8,736$8,065$7,443$6,866$6,331$5,982
9 years$7,687$7,022$6,410$5,848$5,332$4,997
10 years$6,848$6,190$5,589$5,041$4,543$4,222
11 years$6,162$5,510$4,920$4,387$3,907$3,601
12 years$5,591$4,946$4,366$3,848$3,386$3,093
13 years$5,108$4,470$3,901$3,397$2,953$2,674
14 years$4,694$4,063$3,505$3,016$2,588$2,323
15 years$4,336$3,711$3,165$2,690$2,279$2,026
16 years$4,023$3,405$2,869$2,408$2,014$1,774
17 years$3,747$3,136$2,611$2,164$1,786$1,558
18 years$3,502$2,898$2,383$1,950$1,588$1,372
19 years$3,283$2,686$2,182$1,762$1,415$1,211
20 years$3,086$2,496$2,002$1,596$1,264$1,071
21 years$2,908$2,325$1,842$1,448$1,131$948
22 years$2,747$2,170$1,698$1,317$1,014$841
23 years$2,599$2,029$1,567$1,199$910$748
24 years$2,465$1,901$1,450$1,094$818$665
25 years$2,341$1,784$1,343$999$736$592
26 years$2,227$1,677$1,245$913$663$527
27 years$2,121$1,578$1,156$836$598$470
28 years$2,024$1,487$1,075$766$539$420
29 years$1,933$1,403$1,000$702$487$375
30 years$1,848$1,325$932$645$440$335
31 years$1,769$1,253$869$592$398$299
32 years$1,695$1,185$810$544$360$268
33 years$1,626$1,122$757$500$326$240
34 years$1,561$1,064$707$460$295$214
35 years$1,500$1,009$661$424$267$192
36 years$1,442$958$618$390$242$172
37 years$1,388$910$579$360$219$154
38 years$1,336$864$542$331$199$138
39 years$1,288$822$508$306$180$124
40 years$1,241$782$476$282$164$111
41 years$1,198$744$446$260$148$99
42 years$1,156$709$419$240$135$89
43 years$1,116$676$393$222$122$80
44 years$1,079$644$369$205$111$72
45 years$1,043$614$346$189$101$64
46 years$1,009$586$325$175$91$58
47 years$976$559$306$161$83$52
48 years$945$534$287$149$75$46
49 years$915$510$270$138$68$42
50 years$887$487$254$127$62$37

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $908,000, adding $4,892 every year, while hoping to spend $26,800 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: 58/18/24 Blend
55$908,000$908,000$908,000$908,000
56$1,005,662$957,538$943,464$1,057,215
57$1,079,725$975,942$946,555$1,111,346
58$1,160,443$994,350$948,852$1,167,051
59$1,248,469$1,012,734$950,298$1,227,214
60$1,344,517$1,031,062$950,838$1,292,272
61$1,449,377$1,049,303$950,410$1,362,707
62$1,563,915$1,067,421$948,950$1,439,051
63$1,689,087$1,085,378$946,393$1,521,893
64$1,825,945$1,103,132$942,668$1,611,877
65$1,975,647$1,120,641$937,703$1,709,720
66$2,139,467$1,137,856$931,420$1,816,207
67$2,318,809$1,154,727$923,739$1,932,206
68$2,515,219$1,171,201$914,576$2,058,674
69$2,730,400$1,187,218$903,842$2,196,667
70$2,966,225$1,202,717$891,446$2,347,348
71$3,224,761$1,217,630$877,290$2,512,001
72$3,508,281$1,231,888$861,274$2,692,040
73$3,819,290$1,245,415$843,290$2,889,027
74$4,160,546$1,258,129$823,229$3,104,681
75$4,535,088$1,269,944$800,974$3,340,899
76$4,946,264$1,280,768$776,403$3,599,775
77$5,397,761$1,290,503$749,391$3,883,615
78$5,893,640$1,299,046$719,803$4,194,962
79$6,438,376$1,306,284$687,501$4,536,621
80$7,036,898$1,312,099$652,340$4,911,684
81$7,694,636$1,316,367$614,168$5,323,561
82$8,417,573$1,318,953$572,827$5,776,011
83$9,212,299$1,319,715$528,150$6,273,179
84$10,086,075$1,318,502$479,964$6,819,634
85$11,046,901$1,315,156$428,090$7,420,414
86$12,103,591$1,309,504$372,337$8,081,075
87$13,265,855$1,301,368$312,508$8,807,739
88$14,544,393$1,290,555$248,398$9,607,159
89$15,950,992$1,276,864$179,790$10,486,777
90$17,498,641$1,260,078$106,461$11,454,798
91$19,201,651$1,239,970$28,176$12,520,270
92$21,075,789$1,216,299$0$13,693,162
93$23,138,430$1,188,808$0$14,998,649
94$25,408,718$1,157,227$0$16,443,291
95$27,907,744$1,121,269$0$18,033,292
96$30,658,753$1,080,629$0$19,783,451
97$33,687,353$1,034,988$0$21,710,075
98$37,021,766$984,005$0$23,831,137
99$40,693,084$927,320$0$26,166,443
100$44,735,573$864,552$0$28,737,820