Can I retire at age 56 with 912,000?

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 $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%16.1%
1 years$75,312$74,641$73,987$73,348$72,724$70,909
2 years$37,283$36,589$35,916$35,263$34,631$32,813
3 years$24,609$23,911$23,240$22,594$21,971$20,208
4 years$18,273$17,577$16,913$16,277$15,670$13,975
5 years$14,472$13,781$13,125$12,503$11,912$10,290
6 years$11,939$11,253$10,607$9,998$9,426$7,879
7 years$10,130$9,450$8,814$8,220$7,666$6,193
8 years$8,775$8,101$7,475$6,896$6,359$4,961
9 years$7,721$7,053$6,438$5,874$5,355$4,030
10 years$6,878$6,217$5,613$5,063$4,563$3,309
11 years$6,189$5,535$4,942$4,406$3,924$2,740
12 years$5,615$4,968$4,386$3,865$3,401$2,284
13 years$5,130$4,489$3,918$3,412$2,966$1,914
14 years$4,715$4,081$3,521$3,029$2,600$1,611
15 years$4,355$3,728$3,179$2,701$2,289$1,361
16 years$4,041$3,420$2,882$2,419$2,023$1,153
17 years$3,763$3,150$2,622$2,173$1,794$980
18 years$3,517$2,911$2,394$1,959$1,595$834
19 years$3,297$2,697$2,192$1,770$1,422$711
20 years$3,100$2,507$2,011$1,603$1,270$607
21 years$2,921$2,335$1,850$1,455$1,136$519
22 years$2,759$2,179$1,705$1,323$1,019$444
23 years$2,611$2,038$1,574$1,205$914$381
24 years$2,476$1,910$1,456$1,099$822$326
25 years$2,351$1,792$1,349$1,003$739$280
26 years$2,237$1,684$1,251$917$666$240
27 years$2,131$1,585$1,161$840$601$206
28 years$2,033$1,494$1,080$769$542$177
29 years$1,941$1,409$1,005$705$489$152
30 years$1,856$1,331$936$647$442$131
31 years$1,777$1,258$872$595$400$113
32 years$1,703$1,190$814$547$362$97
33 years$1,633$1,127$760$503$327$83
34 years$1,568$1,068$710$462$296$72
35 years$1,506$1,013$664$426$268$62
36 years$1,448$962$621$392$243$53
37 years$1,394$914$581$361$220$46
38 years$1,342$868$544$333$200$39
39 years$1,293$826$510$307$181$34
40 years$1,247$785$478$283$164$29
41 years$1,203$748$448$261$149$25
42 years$1,161$712$420$241$135$22
43 years$1,121$678$395$223$123$19
44 years$1,084$647$370$205$111$16
45 years$1,048$617$348$190$101$14
46 years$1,013$588$327$175$92$12
47 years$980$561$307$162$83$10
48 years$949$536$288$150$76$9
49 years$919$512$271$138$69$8
50 years$890$489$255$128$62$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $912,000, adding $5,938 every year, while hoping to spend $45,070 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: 48/46/6 Blend
55$912,000$912,000$912,000$912,000
56$1,011,149$962,813$948,677$1,057,830
57$1,066,332$962,037$932,504$1,089,618
58$1,125,633$959,712$914,278$1,118,845
59$1,189,425$955,715$893,883$1,149,509
60$1,258,116$949,915$871,198$1,181,757
61$1,332,156$942,173$846,096$1,215,751
62$1,412,038$932,341$818,442$1,251,672
63$1,498,304$920,264$788,098$1,289,723
64$1,591,550$905,776$754,918$1,330,132
65$1,692,430$888,701$718,749$1,373,149
66$1,801,664$868,853$679,433$1,419,056
67$1,920,042$846,035$636,803$1,468,167
68$2,048,436$820,040$590,685$1,520,830
69$2,187,801$790,647$540,897$1,577,433
70$2,339,189$757,621$487,250$1,638,410
71$2,503,758$720,717$429,545$1,704,241
72$2,682,782$679,672$367,575$1,775,460
73$2,877,661$634,211$301,124$1,852,662
74$3,089,936$584,041$229,965$1,936,508
75$3,321,304$528,854$153,864$2,027,732
76$3,573,632$468,322$72,573$2,127,147
77$3,848,974$402,102$0$2,235,660
78$4,149,592$329,828$0$2,355,181
79$4,477,976$251,115$0$2,490,934
80$4,836,867$165,556$0$2,639,522
81$5,229,281$72,723$0$2,802,333
82$5,658,543$0$0$2,980,907
83$6,128,309$0$0$3,191,038
84$6,642,607$0$0$3,461,488
85$7,205,875$0$0$3,757,790
86$7,822,996$0$0$4,082,526
87$8,499,350$0$0$4,438,542
88$9,240,862$0$0$4,828,968
89$10,054,058$0$0$5,257,255
90$10,946,124$0$0$5,727,203
91$11,924,977$0$0$6,242,997
92$12,999,338$0$0$6,809,248
93$14,178,811$0$0$7,431,035
94$15,473,976$0$0$8,113,953
95$16,896,490$0$0$8,864,164
96$18,459,191$0$0$9,688,458
97$20,176,224$0$0$10,594,315
98$22,063,172$0$0$11,589,975
99$24,137,201$0$0$12,684,516
100$26,417,224$0$0$13,887,939