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%17.7%
1 years$75,147$74,478$73,825$73,187$72,565$70,298
2 years$37,201$36,509$35,837$35,186$34,555$32,291
3 years$24,555$23,859$23,189$22,544$21,923$19,734
4 years$18,232$17,539$16,876$16,242$15,636$13,537
5 years$14,440$13,751$13,096$12,475$11,886$9,884
6 years$11,913$11,228$10,584$9,977$9,405$7,502
7 years$10,108$9,430$8,795$8,202$7,649$5,844
8 years$8,755$8,083$7,459$6,881$6,345$4,637
9 years$7,704$7,038$6,424$5,861$5,344$3,731
10 years$6,863$6,203$5,601$5,052$4,553$3,033
11 years$6,175$5,522$4,931$4,397$3,916$2,486
12 years$5,603$4,957$4,376$3,857$3,393$2,050
13 years$5,119$4,479$3,910$3,405$2,959$1,700
14 years$4,704$4,072$3,513$3,022$2,594$1,415
15 years$4,345$3,719$3,172$2,695$2,284$1,182
16 years$4,032$3,413$2,876$2,413$2,019$990
17 years$3,755$3,143$2,617$2,168$1,790$831
18 years$3,510$2,904$2,389$1,954$1,591$699
19 years$3,290$2,692$2,187$1,766$1,418$589
20 years$3,093$2,501$2,007$1,599$1,267$497
21 years$2,915$2,330$1,846$1,451$1,134$420
22 years$2,753$2,175$1,701$1,320$1,016$355
23 years$2,605$2,034$1,571$1,202$912$300
24 years$2,470$1,906$1,453$1,096$820$254
25 years$2,346$1,788$1,346$1,001$738$215
26 years$2,232$1,681$1,248$915$665$182
27 years$2,126$1,582$1,159$838$599$155
28 years$2,028$1,491$1,077$768$541$131
29 years$1,937$1,406$1,003$704$488$111
30 years$1,852$1,328$934$646$441$94
31 years$1,773$1,255$871$593$399$80
32 years$1,699$1,188$812$545$361$68
33 years$1,630$1,125$758$501$326$58
34 years$1,564$1,066$709$461$296$49
35 years$1,503$1,011$662$425$268$42
36 years$1,445$960$620$391$243$35
37 years$1,391$912$580$360$220$30
38 years$1,339$866$543$332$199$25
39 years$1,290$824$509$306$181$22
40 years$1,244$784$477$283$164$18
41 years$1,200$746$447$261$149$16
42 years$1,159$711$420$241$135$13
43 years$1,119$677$394$222$122$11
44 years$1,081$645$370$205$111$10
45 years$1,045$615$347$189$101$8
46 years$1,011$587$326$175$92$7
47 years$978$560$306$162$83$6
48 years$947$535$288$149$76$5
49 years$917$511$270$138$69$4
50 years$888$488$254$128$62$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $910,000, adding $6,903 every year, while hoping to spend $51,631 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: 48/40/12 Blend
55$910,000$910,000$910,000$910,000
56$1,009,940$961,710$947,605$1,054,757
57$1,058,019$953,899$924,415$1,078,539
58$1,109,272$943,975$898,718$1,098,424
59$1,163,967$931,779$870,374$1,118,853
60$1,222,400$917,145$839,240$1,139,893
61$1,284,894$899,894$805,164$1,161,624
62$1,351,804$879,839$767,987$1,184,132
63$1,423,517$856,781$727,544$1,207,522
64$1,500,461$830,508$683,662$1,231,907
65$1,583,103$800,798$636,160$1,257,420
66$1,671,957$767,415$584,849$1,284,210
67$1,767,587$730,108$529,531$1,312,445
68$1,870,611$688,613$470,000$1,342,318
69$1,981,709$642,651$406,041$1,374,043
70$2,101,629$591,927$337,429$1,407,865
71$2,231,190$536,127$263,929$1,444,057
72$2,371,296$474,921$185,295$1,482,927
73$2,522,937$407,961$101,271$1,524,822
74$2,687,203$334,878$11,590$1,570,130
75$2,865,293$255,281$0$1,619,288
76$3,058,523$168,761$0$1,683,554
77$3,268,343$74,881$0$1,754,989
78$3,496,348$0$0$1,832,756
79$3,744,290$0$0$1,929,384
80$4,014,098$0$0$2,070,489
81$4,307,895$0$0$2,224,233
82$4,628,017$0$0$2,391,849
83$4,977,034$0$0$2,574,695
84$5,357,775$0$0$2,774,266
85$5,773,354$0$0$2,992,207
86$6,227,198$0$0$3,230,330
87$6,723,080$0$0$3,490,628
88$7,265,155$0$0$3,775,297
89$7,857,995$0$0$4,086,754
90$8,506,637$0$0$4,427,661
91$9,216,624$0$0$4,800,947
92$9,994,063$0$0$5,209,842
93$10,845,677$0$0$5,657,898
94$11,778,870$0$0$6,149,030
95$12,801,798$0$0$6,687,550
96$13,923,441$0$0$7,278,206
97$15,153,691$0$0$7,926,227
98$16,503,444$0$0$8,637,374
99$17,984,699$0$0$9,417,991
100$19,610,677$0$0$10,275,070