Can I retire at age 56 with 909,000?

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 $909,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.4%
1 years$75,064$74,396$73,743$73,107$72,485$70,589
2 years$37,161$36,468$35,798$35,147$34,517$32,620
3 years$24,528$23,833$23,164$22,519$21,899$20,060
4 years$18,212$17,519$16,857$16,224$15,618$13,852
5 years$14,424$13,735$13,082$12,462$11,873$10,184
6 years$11,900$11,216$10,572$9,966$9,395$7,784
7 years$10,097$9,419$8,785$8,193$7,640$6,109
8 years$8,746$8,074$7,451$6,873$6,338$4,885
9 years$7,695$7,030$6,417$5,854$5,338$3,961
10 years$6,855$6,196$5,595$5,047$4,548$3,246
11 years$6,169$5,516$4,926$4,392$3,912$2,683
12 years$5,597$4,951$4,371$3,852$3,390$2,232
13 years$5,113$4,474$3,905$3,401$2,956$1,867
14 years$4,699$4,067$3,509$3,019$2,591$1,568
15 years$4,341$3,715$3,168$2,692$2,281$1,322
16 years$4,027$3,409$2,872$2,411$2,016$1,118
17 years$3,751$3,139$2,614$2,166$1,788$947
18 years$3,506$2,901$2,386$1,952$1,590$805
19 years$3,286$2,689$2,184$1,764$1,417$685
20 years$3,089$2,498$2,005$1,598$1,266$583
21 years$2,911$2,327$1,844$1,450$1,133$498
22 years$2,750$2,172$1,699$1,318$1,015$425
23 years$2,602$2,032$1,569$1,201$911$363
24 years$2,467$1,904$1,451$1,095$819$311
25 years$2,344$1,786$1,344$1,000$737$266
26 years$2,229$1,679$1,247$914$664$228
27 years$2,124$1,580$1,158$837$599$195
28 years$2,026$1,489$1,076$767$540$167
29 years$1,935$1,405$1,001$703$488$143
30 years$1,850$1,326$933$645$441$123
31 years$1,771$1,254$870$593$398$105
32 years$1,697$1,187$811$545$360$90
33 years$1,628$1,124$758$501$326$78
34 years$1,563$1,065$708$461$295$67
35 years$1,501$1,010$662$424$267$57
36 years$1,444$959$619$391$242$49
37 years$1,389$911$579$360$220$42
38 years$1,338$865$543$332$199$36
39 years$1,289$823$508$306$181$31
40 years$1,243$783$476$282$164$27
41 years$1,199$745$447$260$149$23
42 years$1,157$710$419$240$135$20
43 years$1,118$676$393$222$122$17
44 years$1,080$645$369$205$111$15
45 years$1,044$615$347$189$101$12
46 years$1,010$586$326$175$92$11
47 years$977$560$306$161$83$9
48 years$946$534$287$149$75$8
49 years$916$510$270$138$69$7
50 years$888$487$254$127$62$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $909,000, adding $5,050 every year, while hoping to spend $59,484 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: 42/38/20 Blend
55$909,000$909,000$909,000$909,000
56$1,006,927$958,750$944,661$1,043,129
57$1,046,343$942,438$913,016$1,052,999
58$1,087,786$923,334$878,318$1,057,528
59$1,131,400$901,236$840,401$1,061,209
60$1,177,340$875,935$799,093$1,063,992
61$1,225,779$847,206$754,212$1,065,832
62$1,276,902$814,812$705,572$1,066,681
63$1,330,911$778,503$652,973$1,066,491
64$1,388,027$738,013$596,212$1,065,218
65$1,448,493$693,063$535,071$1,062,817
66$1,512,571$643,354$469,328$1,059,245
67$1,580,549$588,575$398,746$1,054,462
68$1,652,742$528,392$323,082$1,048,432
69$1,729,495$462,457$242,078$1,041,121
70$1,811,184$390,398$155,468$1,032,500
71$1,898,222$311,824$62,974$1,022,549
72$1,991,060$226,323$0$1,011,250
73$2,090,193$133,458$0$1,006,222
74$2,196,163$32,767$0$1,014,678
75$2,309,564$0$0$1,023,246
76$2,431,048$0$0$1,063,901
77$2,561,329$0$0$1,122,270
78$2,701,192$0$0$1,185,013
79$2,851,497$0$0$1,252,526
80$3,013,189$0$0$1,325,244
81$3,187,305$0$0$1,403,647
82$3,374,984$0$0$1,488,258
83$3,577,477$0$0$1,579,654
84$3,796,160$0$0$1,678,471
85$4,032,542$0$0$1,785,404
86$4,288,283$0$0$1,901,219
87$4,565,210$0$0$2,026,760
88$4,865,329$0$0$2,162,951
89$5,190,845$0$0$2,310,812
90$5,544,185$0$0$2,471,463
91$5,928,018$0$0$2,646,136
92$6,345,279$0$0$2,836,187
93$6,799,198$0$0$3,043,108
94$7,293,328$0$0$3,268,540
95$7,831,578$0$0$3,514,290
96$8,418,251$0$0$3,782,346
97$9,058,082$0$0$4,074,896
98$9,756,283$0$0$4,394,348
99$10,518,590$0$0$4,743,355
100$11,351,317$0$0$5,124,835