Can I retire at age 56 with 910,000?

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 $910,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.2%
1 years$75,147$74,478$73,825$73,187$72,565$72,198
2 years$37,201$36,509$35,837$35,186$34,555$34,185
3 years$24,555$23,859$23,189$22,544$21,923$21,561
4 years$18,232$17,539$16,876$16,242$15,636$15,285
5 years$14,440$13,751$13,096$12,475$11,886$11,547
6 years$11,913$11,228$10,584$9,977$9,405$9,078
7 years$10,108$9,430$8,795$8,202$7,649$7,334
8 years$8,755$8,083$7,459$6,881$6,345$6,044
9 years$7,704$7,038$6,424$5,861$5,344$5,054
10 years$6,863$6,203$5,601$5,052$4,553$4,276
11 years$6,175$5,522$4,931$4,397$3,916$3,651
12 years$5,603$4,957$4,376$3,857$3,393$3,140
13 years$5,119$4,479$3,910$3,405$2,959$2,718
14 years$4,704$4,072$3,513$3,022$2,594$2,364
15 years$4,345$3,719$3,172$2,695$2,284$2,065
16 years$4,032$3,413$2,876$2,413$2,019$1,811
17 years$3,755$3,143$2,617$2,168$1,790$1,592
18 years$3,510$2,904$2,389$1,954$1,591$1,404
19 years$3,290$2,692$2,187$1,766$1,418$1,241
20 years$3,093$2,501$2,007$1,599$1,267$1,099
21 years$2,915$2,330$1,846$1,451$1,134$975
22 years$2,753$2,175$1,701$1,320$1,016$866
23 years$2,605$2,034$1,571$1,202$912$771
24 years$2,470$1,906$1,453$1,096$820$686
25 years$2,346$1,788$1,346$1,001$738$612
26 years$2,232$1,681$1,248$915$665$546
27 years$2,126$1,582$1,159$838$599$488
28 years$2,028$1,491$1,077$768$541$436
29 years$1,937$1,406$1,003$704$488$390
30 years$1,852$1,328$934$646$441$349
31 years$1,773$1,255$871$593$399$313
32 years$1,699$1,188$812$545$361$280
33 years$1,630$1,125$758$501$326$251
34 years$1,564$1,066$709$461$296$225
35 years$1,503$1,011$662$425$268$202
36 years$1,445$960$620$391$243$181
37 years$1,391$912$580$360$220$162
38 years$1,339$866$543$332$199$146
39 years$1,290$824$509$306$181$131
40 years$1,244$784$477$283$164$117
41 years$1,200$746$447$261$149$105
42 years$1,159$711$420$241$135$95
43 years$1,119$677$394$222$122$85
44 years$1,081$645$370$205$111$76
45 years$1,045$615$347$189$101$69
46 years$1,011$587$326$175$92$62
47 years$978$560$306$162$83$55
48 years$947$535$288$149$76$50
49 years$917$511$270$138$69$45
50 years$888$488$254$128$62$40

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $910,000, adding $4,732 every year, while hoping to spend $48,387 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: 74/7/19 Blend
55$910,000$910,000$910,000$910,000
56$1,007,701$959,471$945,366$1,077,435
57$1,059,003$955,002$925,552$1,119,858
58$1,113,916$948,692$903,453$1,159,974
59$1,172,758$940,400$878,941$1,202,679
60$1,235,876$929,976$851,882$1,248,218
61$1,303,652$917,261$822,137$1,296,866
62$1,376,505$902,088$789,559$1,348,921
63$1,454,896$884,277$753,997$1,404,717
64$1,539,329$863,640$715,289$1,464,621
65$1,630,359$839,978$673,270$1,529,038
66$1,728,596$813,077$627,765$1,598,414
67$1,834,709$782,714$578,591$1,673,245
68$1,949,434$748,652$525,559$1,754,075
69$2,073,580$710,640$468,469$1,841,506
70$2,208,036$668,412$407,114$1,936,204
71$2,353,780$621,688$341,276$2,038,903
72$2,511,886$570,171$270,729$2,150,413
73$2,683,536$513,548$195,237$2,271,629
74$2,870,032$451,486$114,552$2,403,538
75$3,072,802$383,635$28,416$2,547,231
76$3,293,420$309,626$0$2,703,911
77$3,533,618$229,067$0$2,887,780
78$3,795,301$141,545$0$3,094,416
79$4,080,564$46,624$0$3,319,727
80$4,391,717$0$0$3,565,562
81$4,731,297$0$0$3,838,281
82$5,102,100$0$0$4,140,034
83$5,507,205$0$0$4,469,738
84$5,949,997$0$0$4,830,156
85$6,434,208$0$0$5,224,329
86$6,963,943$0$0$5,655,605
87$7,543,725$0$0$6,127,670
88$8,178,533$0$0$6,644,584
89$8,873,850$0$0$7,210,818
90$9,635,714$0$0$7,831,296
91$10,470,775$0$0$8,511,439
92$11,386,357$0$0$9,257,218
93$12,390,526$0$0$10,075,213
94$13,492,168$0$0$10,972,666
95$14,701,069$0$0$11,957,557
96$16,028,007$0$0$13,038,676
97$17,484,857$0$0$14,225,705
98$19,084,698$0$0$15,529,309
99$20,841,940$0$0$16,961,237
100$22,772,454$0$0$18,534,432