Can I retire at age 56 with 912,000?

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 $912,000?

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$75,312$74,641$73,987$73,348$72,724$70,453
2 years$37,283$36,589$35,916$35,263$34,631$32,362
3 years$24,609$23,911$23,240$22,594$21,971$19,777
4 years$18,273$17,577$16,913$16,277$15,670$13,567
5 years$14,472$13,781$13,125$12,503$11,912$9,906
6 years$11,939$11,253$10,607$9,998$9,426$7,518
7 years$10,130$9,450$8,814$8,220$7,666$5,857
8 years$8,775$8,101$7,475$6,896$6,359$4,648
9 years$7,721$7,053$6,438$5,874$5,355$3,739
10 years$6,878$6,217$5,613$5,063$4,563$3,040
11 years$6,189$5,535$4,942$4,406$3,924$2,491
12 years$5,615$4,968$4,386$3,865$3,401$2,055
13 years$5,130$4,489$3,918$3,412$2,966$1,704
14 years$4,715$4,081$3,521$3,029$2,600$1,418
15 years$4,355$3,728$3,179$2,701$2,289$1,185
16 years$4,041$3,420$2,882$2,419$2,023$992
17 years$3,763$3,150$2,622$2,173$1,794$833
18 years$3,517$2,911$2,394$1,959$1,595$701
19 years$3,297$2,697$2,192$1,770$1,422$590
20 years$3,100$2,507$2,011$1,603$1,270$498
21 years$2,921$2,335$1,850$1,455$1,136$421
22 years$2,759$2,179$1,705$1,323$1,019$356
23 years$2,611$2,038$1,574$1,205$914$301
24 years$2,476$1,910$1,456$1,099$822$255
25 years$2,351$1,792$1,349$1,003$739$216
26 years$2,237$1,684$1,251$917$666$183
27 years$2,131$1,585$1,161$840$601$155
28 years$2,033$1,494$1,080$769$542$131
29 years$1,941$1,409$1,005$705$489$111
30 years$1,856$1,331$936$647$442$95
31 years$1,777$1,258$872$595$400$80
32 years$1,703$1,190$814$547$362$68
33 years$1,633$1,127$760$503$327$58
34 years$1,568$1,068$710$462$296$49
35 years$1,506$1,013$664$426$268$42
36 years$1,448$962$621$392$243$35
37 years$1,394$914$581$361$220$30
38 years$1,342$868$544$333$200$26
39 years$1,293$826$510$307$181$22
40 years$1,247$785$478$283$164$18
41 years$1,203$748$448$261$149$16
42 years$1,161$712$420$241$135$13
43 years$1,121$678$395$223$123$11
44 years$1,084$647$370$205$111$10
45 years$1,048$617$348$190$101$8
46 years$1,013$588$327$175$92$7
47 years$980$561$307$162$83$6
48 years$949$536$288$150$76$5
49 years$919$512$271$138$69$4
50 years$890$489$255$128$62$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $912,000, adding $2,997 every year, while hoping to spend $21,761 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: 61/21/18 Blend
55$912,000$912,000$912,000$912,000
56$1,008,115$959,779$945,643$1,064,780
57$1,087,790$983,655$954,169$1,127,246
58$1,174,861$1,007,971$962,251$1,192,695
59$1,270,062$1,032,727$969,851$1,263,617
60$1,374,197$1,057,919$976,930$1,340,546
61$1,488,154$1,083,546$983,445$1,424,070
62$1,612,908$1,109,602$989,353$1,514,836
63$1,749,536$1,136,083$994,608$1,613,558
64$1,899,221$1,162,984$999,160$1,721,021
65$2,063,268$1,190,297$1,002,958$1,838,091
66$2,243,112$1,218,013$1,005,948$1,965,722
67$2,440,337$1,246,123$1,008,075$2,104,964
68$2,656,685$1,274,616$1,009,279$2,256,976
69$2,894,074$1,303,479$1,009,497$2,423,033
70$3,154,618$1,332,698$1,008,664$2,604,541
71$3,440,646$1,362,258$1,006,711$2,803,049
72$3,754,724$1,392,140$1,003,567$3,020,264
73$4,099,676$1,422,325$999,157$3,258,068
74$4,478,615$1,452,791$993,401$3,518,533
75$4,894,970$1,483,514$986,216$3,803,944
76$5,352,519$1,514,468$977,517$4,116,818
77$5,855,423$1,545,625$967,210$4,459,930
78$6,408,267$1,576,951$955,203$4,836,336
79$7,016,102$1,608,414$941,394$5,249,407
80$7,684,494$1,639,975$925,680$5,702,856
81$8,419,573$1,671,595$907,951$6,200,775
82$9,228,095$1,703,228$888,093$6,747,675
83$10,117,503$1,734,828$865,986$7,348,525
84$11,095,996$1,766,343$841,505$8,008,805
85$12,172,611$1,797,717$814,519$8,734,550
86$13,357,302$1,828,891$784,890$9,532,415
87$14,661,040$1,859,799$752,476$10,409,733
88$16,095,909$1,890,372$717,127$11,374,585
89$17,675,227$1,920,536$678,687$12,435,878
90$19,413,668$1,950,210$636,991$13,603,428
91$21,327,401$1,979,309$591,868$14,888,052
92$23,434,240$2,007,740$543,141$16,301,675
93$25,753,818$2,035,404$490,621$17,857,435
94$28,307,766$2,062,197$434,115$19,569,815
95$31,119,918$2,088,004$373,418$21,454,774
96$34,216,539$2,112,707$308,317$23,529,902
97$37,626,572$2,136,175$238,591$25,814,585
98$41,381,906$2,158,271$164,008$28,330,186
99$45,517,683$2,178,849$84,324$31,100,252
100$50,072,626$2,197,752$0$34,150,731