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%17.8%
1 years$75,312$74,641$73,987$73,348$72,724$70,424
2 years$37,283$36,589$35,916$35,263$34,631$32,334
3 years$24,609$23,911$23,240$22,594$21,971$19,751
4 years$18,273$17,577$16,913$16,277$15,670$13,542
5 years$14,472$13,781$13,125$12,503$11,912$9,883
6 years$11,939$11,253$10,607$9,998$9,426$7,496
7 years$10,130$9,450$8,814$8,220$7,666$5,836
8 years$8,775$8,101$7,475$6,896$6,359$4,629
9 years$7,721$7,053$6,438$5,874$5,355$3,722
10 years$6,878$6,217$5,613$5,063$4,563$3,024
11 years$6,189$5,535$4,942$4,406$3,924$2,477
12 years$5,615$4,968$4,386$3,865$3,401$2,041
13 years$5,130$4,489$3,918$3,412$2,966$1,691
14 years$4,715$4,081$3,521$3,029$2,600$1,407
15 years$4,355$3,728$3,179$2,701$2,289$1,175
16 years$4,041$3,420$2,882$2,419$2,023$983
17 years$3,763$3,150$2,622$2,173$1,794$825
18 years$3,517$2,911$2,394$1,959$1,595$693
19 years$3,297$2,697$2,192$1,770$1,422$584
20 years$3,100$2,507$2,011$1,603$1,270$492
21 years$2,921$2,335$1,850$1,455$1,136$415
22 years$2,759$2,179$1,705$1,323$1,019$351
23 years$2,611$2,038$1,574$1,205$914$296
24 years$2,476$1,910$1,456$1,099$822$251
25 years$2,351$1,792$1,349$1,003$739$212
26 years$2,237$1,684$1,251$917$666$180
27 years$2,131$1,585$1,161$840$601$152
28 years$2,033$1,494$1,080$769$542$129
29 years$1,941$1,409$1,005$705$489$109
30 years$1,856$1,331$936$647$442$93
31 years$1,777$1,258$872$595$400$79
32 years$1,703$1,190$814$547$362$67
33 years$1,633$1,127$760$503$327$57
34 years$1,568$1,068$710$462$296$48
35 years$1,506$1,013$664$426$268$41
36 years$1,448$962$621$392$243$35
37 years$1,394$914$581$361$220$29
38 years$1,342$868$544$333$200$25
39 years$1,293$826$510$307$181$21
40 years$1,247$785$478$283$164$18
41 years$1,203$748$448$261$149$15
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$9
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$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $912,000, adding $6,150 every year, while hoping to spend $24,640 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: 49/41/10 Blend
55$912,000$912,000$912,000$912,000
56$1,011,368$963,032$948,896$1,057,911
57$1,088,310$984,004$954,467$1,111,445
58$1,172,276$1,005,177$959,399$1,166,461
59$1,263,953$1,026,536$963,644$1,225,653
60$1,364,103$1,048,063$967,153$1,289,418
61$1,473,562$1,069,739$969,874$1,358,194
62$1,593,251$1,091,542$971,750$1,432,463
63$1,724,184$1,113,449$972,725$1,512,758
64$1,867,478$1,135,434$972,738$1,599,664
65$2,024,361$1,157,471$971,725$1,693,826
66$2,196,188$1,179,529$969,620$1,795,956
67$2,384,449$1,201,577$966,352$1,906,838
68$2,590,787$1,223,578$961,849$2,027,337
69$2,817,010$1,245,496$956,034$2,158,404
70$3,065,110$1,267,290$948,826$2,301,089
71$3,337,280$1,288,916$940,140$2,456,549
72$3,635,936$1,310,326$929,888$2,626,060
73$3,963,740$1,331,471$917,978$2,811,027
74$4,323,624$1,352,295$904,313$3,013,001
75$4,718,817$1,372,741$888,791$3,233,689
76$5,152,876$1,392,745$871,305$3,474,975
77$5,629,720$1,412,241$851,745$3,738,934
78$6,153,668$1,431,156$829,994$4,027,855
79$6,729,473$1,449,415$805,930$4,344,261
80$7,362,377$1,466,934$779,427$4,690,932
81$8,058,152$1,483,626$750,350$5,070,935
82$8,823,158$1,499,398$718,561$5,487,648
83$9,664,401$1,514,149$683,914$5,944,797
84$10,589,601$1,527,774$646,256$6,446,491
85$11,607,264$1,540,158$605,429$6,997,255
86$12,726,760$1,551,181$561,266$7,602,082
87$13,958,415$1,560,715$513,594$8,266,473
88$15,313,605$1,568,621$462,231$8,996,494
89$16,804,864$1,574,755$406,987$9,798,832
90$18,446,004$1,578,961$347,665$10,680,856
91$20,252,242$1,581,076$284,057$11,650,693
92$22,240,345$1,580,923$215,948$12,717,298
93$24,428,790$1,578,318$143,112$13,890,546
94$26,837,934$1,573,063$65,313$15,181,321
95$29,490,209$1,564,949$0$16,601,619
96$32,410,333$1,553,754$0$18,166,555
97$35,625,541$1,539,242$0$19,896,379
98$39,165,844$1,521,164$0$21,800,211
99$43,064,314$1,499,254$0$23,895,796
100$47,357,389$1,473,233$0$26,202,688