Can I retire at age 56 with 911,000?

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 $911,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.5%
1 years$75,230$74,559$73,906$73,268$72,644$71,588
2 years$37,242$36,549$35,877$35,225$34,593$33,531
3 years$24,582$23,885$23,214$22,569$21,947$20,913
4 years$18,252$17,558$16,894$16,260$15,653$14,654
5 years$14,456$13,766$13,111$12,489$11,899$10,938
6 years$11,926$11,241$10,595$9,987$9,415$8,494
7 years$10,119$9,440$8,805$8,211$7,657$6,775
8 years$8,765$8,092$7,467$6,888$6,352$5,510
9 years$7,712$7,045$6,431$5,867$5,350$4,546
10 years$6,870$6,210$5,607$5,058$4,558$3,793
11 years$6,182$5,529$4,936$4,402$3,920$3,193
12 years$5,609$4,962$4,381$3,861$3,397$2,707
13 years$5,125$4,484$3,914$3,409$2,962$2,308
14 years$4,710$4,076$3,517$3,026$2,597$1,977
15 years$4,350$3,724$3,175$2,698$2,286$1,701
16 years$4,036$3,416$2,879$2,416$2,021$1,468
17 years$3,759$3,146$2,620$2,171$1,792$1,270
18 years$3,513$2,907$2,391$1,956$1,593$1,102
19 years$3,294$2,694$2,189$1,768$1,420$958
20 years$3,096$2,504$2,009$1,601$1,268$834
21 years$2,918$2,332$1,848$1,453$1,135$727
22 years$2,756$2,177$1,703$1,321$1,017$635
23 years$2,608$2,036$1,573$1,203$913$555
24 years$2,473$1,908$1,454$1,097$821$486
25 years$2,349$1,790$1,347$1,002$739$426
26 years$2,234$1,683$1,249$916$665$373
27 years$2,128$1,584$1,160$839$600$327
28 years$2,030$1,492$1,078$768$541$287
29 years$1,939$1,408$1,004$705$489$252
30 years$1,854$1,329$935$647$442$221
31 years$1,775$1,257$872$594$399$195
32 years$1,701$1,189$813$546$361$171
33 years$1,631$1,126$759$502$327$150
34 years$1,566$1,067$709$462$296$132
35 years$1,505$1,012$663$425$268$116
36 years$1,447$961$620$392$243$102
37 years$1,392$913$581$361$220$90
38 years$1,341$867$544$333$200$79
39 years$1,292$825$509$307$181$70
40 years$1,245$785$478$283$164$61
41 years$1,202$747$448$261$149$54
42 years$1,160$711$420$241$135$48
43 years$1,120$678$394$222$123$42
44 years$1,082$646$370$205$111$37
45 years$1,046$616$347$190$101$32
46 years$1,012$588$326$175$92$29
47 years$979$561$307$162$83$25
48 years$948$535$288$149$76$22
49 years$918$511$271$138$69$20
50 years$889$488$255$128$62$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $911,000, adding $3,680 every year, while hoping to spend $32,462 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: 31/41/28 Blend
55$911,000$911,000$911,000$911,000
56$1,007,718$959,435$945,314$1,030,223
57$1,075,966$971,908$942,443$1,060,414
58$1,150,087$983,904$938,388$1,089,787
59$1,230,646$995,366$933,074$1,120,768
60$1,318,265$1,006,232$926,425$1,153,520
61$1,413,627$1,016,436$918,359$1,188,225
62$1,517,484$1,025,908$908,791$1,225,086
63$1,630,664$1,034,574$897,632$1,264,326
64$1,754,078$1,042,354$884,789$1,306,196
65$1,888,728$1,049,164$870,163$1,350,974
66$2,035,718$1,054,913$853,654$1,398,969
67$2,196,263$1,059,505$835,153$1,450,524
68$2,371,700$1,062,839$814,548$1,506,018
69$2,563,501$1,064,806$791,724$1,565,876
70$2,773,287$1,065,290$766,555$1,630,565
71$3,002,843$1,064,171$738,916$1,700,605
72$3,254,134$1,061,316$708,671$1,776,574
73$3,529,325$1,056,590$675,680$1,859,111
74$3,830,798$1,049,844$639,797$1,948,924
75$4,161,178$1,040,925$600,869$2,046,800
76$4,523,355$1,029,668$558,735$2,153,609
77$4,920,513$1,015,897$513,229$2,270,314
78$5,356,158$999,429$464,175$2,397,985
79$5,834,152$980,067$411,391$2,537,803
80$6,358,749$957,604$354,686$2,691,077
81$6,934,635$931,820$293,861$2,859,255
82$7,566,970$902,482$228,708$3,043,942
83$8,261,442$869,344$159,010$3,246,910
84$9,024,313$832,145$84,541$3,470,122
85$9,862,483$790,610$5,063$3,715,748
86$10,783,553$744,448$0$3,986,189
87$11,795,898$693,348$0$4,307,924
88$12,908,744$636,987$0$4,663,224
89$14,132,255$575,018$0$5,053,898
90$15,477,628$507,077$0$5,483,613
91$16,957,202$432,779$0$5,956,420
92$18,584,569$351,718$0$6,476,784
93$20,374,706$263,464$0$7,049,638
94$22,344,115$167,562$0$7,680,422
95$24,510,975$63,533$0$8,375,141
96$26,895,320$0$0$9,140,419
97$29,519,221$0$0$10,005,731
98$32,406,998$0$0$10,989,777
99$35,585,448$0$0$12,073,045
100$39,084,098$0$0$13,265,618