Can I retire at age 56 with 913,000?

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 $913,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.8%
1 years$75,395$74,723$74,068$73,428$72,804$71,954
2 years$37,324$36,629$35,955$35,302$34,669$33,813
3 years$24,636$23,937$23,265$22,618$21,995$21,160
4 years$18,293$17,597$16,931$16,295$15,687$14,880
5 years$14,488$13,796$13,139$12,516$11,925$11,148
6 years$11,952$11,265$10,619$10,009$9,436$8,689
7 years$10,141$9,461$8,824$8,229$7,674$6,958
8 years$8,784$8,110$7,484$6,903$6,366$5,682
9 years$7,729$7,061$6,446$5,880$5,361$4,707
10 years$6,886$6,224$5,619$5,069$4,568$3,944
11 years$6,196$5,541$4,947$4,411$3,929$3,335
12 years$5,621$4,973$4,391$3,869$3,405$2,840
13 years$5,136$4,494$3,923$3,416$2,969$2,432
14 years$4,720$4,085$3,525$3,032$2,602$2,094
15 years$4,360$3,732$3,182$2,704$2,291$1,809
16 years$4,045$3,424$2,885$2,421$2,025$1,569
17 years$3,767$3,153$2,625$2,176$1,796$1,365
18 years$3,521$2,914$2,397$1,961$1,597$1,190
19 years$3,301$2,700$2,194$1,772$1,423$1,040
20 years$3,103$2,509$2,014$1,605$1,271$910
21 years$2,924$2,337$1,852$1,456$1,138$798
22 years$2,762$2,182$1,707$1,324$1,020$700
23 years$2,614$2,041$1,576$1,206$915$616
24 years$2,478$1,912$1,458$1,100$823$542
25 years$2,354$1,794$1,350$1,004$740$477
26 years$2,239$1,686$1,252$918$667$420
27 years$2,133$1,587$1,163$841$601$371
28 years$2,035$1,495$1,081$770$542$327
29 years$1,944$1,411$1,006$706$490$289
30 years$1,858$1,332$937$648$443$255
31 years$1,779$1,259$873$595$400$226
32 years$1,705$1,192$815$547$362$199
33 years$1,635$1,129$761$503$328$176
34 years$1,570$1,070$711$463$297$156
35 years$1,508$1,015$665$426$269$138
36 years$1,450$963$622$392$243$122
37 years$1,395$915$582$362$221$108
38 years$1,344$869$545$333$200$96
39 years$1,295$826$511$307$181$85
40 years$1,248$786$479$283$164$75
41 years$1,204$749$449$262$149$66
42 years$1,162$713$421$241$135$59
43 years$1,123$679$395$223$123$52
44 years$1,085$647$371$206$112$46
45 years$1,049$617$348$190$101$41
46 years$1,014$589$327$175$92$36
47 years$981$562$307$162$83$32
48 years$950$537$289$150$76$28
49 years$920$512$271$138$69$25
50 years$891$489$255$128$63$22

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $913,000, adding $3,908 every year, while hoping to spend $53,445 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: 54/19/27 Blend
55$913,000$913,000$913,000$913,000
56$1,010,157$961,768$947,617$1,056,946
57$1,056,328$952,030$922,497$1,079,943
58$1,105,417$940,023$894,744$1,099,149
59$1,157,666$925,580$864,214$1,118,979
60$1,213,338$908,523$830,755$1,139,512
61$1,272,722$888,665$794,210$1,160,839
62$1,336,137$865,806$754,412$1,183,063
63$1,403,927$839,736$711,190$1,206,301
64$1,476,475$810,230$664,362$1,230,683
65$1,554,197$777,052$613,739$1,256,358
66$1,637,551$739,954$559,125$1,283,495
67$1,727,039$698,669$500,314$1,312,282
68$1,823,212$652,919$437,090$1,342,932
69$1,926,675$602,408$369,228$1,375,682
70$2,038,093$546,823$296,494$1,410,800
71$2,158,195$485,834$218,643$1,448,587
72$2,287,781$419,090$135,418$1,489,379
73$2,427,734$346,224$46,553$1,533,551
74$2,579,019$266,846$0$1,581,524
75$2,742,701$180,543$0$1,647,677
76$2,919,947$86,881$0$1,733,842
77$3,112,044$0$0$1,827,265
78$3,320,404$0$0$1,931,742
79$3,546,581$0$0$2,064,944
80$3,792,284$0$0$2,209,722
81$4,059,394$0$0$2,367,194
82$4,349,978$0$0$2,538,588
83$4,666,312$0$0$2,725,257
84$5,010,900$0$0$2,928,690
85$5,386,498$0$0$3,150,525
86$5,796,138$0$0$3,392,565
87$6,243,158$0$0$3,656,795
88$6,731,233$0$0$3,945,399
89$7,264,406$0$0$4,260,783
90$7,847,130$0$0$4,605,594
91$8,484,308$0$0$4,982,747
92$9,181,336$0$0$5,395,452
93$9,944,156$0$0$5,847,244
94$10,779,314$0$0$6,342,015
95$11,694,015$0$0$6,884,050
96$12,696,195$0$0$7,478,070
97$13,794,593$0$0$8,129,273
98$14,998,834$0$0$8,843,385
99$16,319,519$0$0$9,626,712
100$17,768,324$0$0$10,486,198