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%11.4%
1 years$75,395$74,723$74,068$73,428$72,804$72,375
2 years$37,324$36,629$35,955$35,302$34,669$34,236
3 years$24,636$23,937$23,265$22,618$21,995$21,572
4 years$18,293$17,597$16,931$16,295$15,687$15,277
5 years$14,488$13,796$13,139$12,516$11,925$11,529
6 years$11,952$11,265$10,619$10,009$9,436$9,055
7 years$10,141$9,461$8,824$8,229$7,674$7,307
8 years$8,784$8,110$7,484$6,903$6,366$6,014
9 years$7,729$7,061$6,446$5,880$5,361$5,024
10 years$6,886$6,224$5,619$5,069$4,568$4,246
11 years$6,196$5,541$4,947$4,411$3,929$3,620
12 years$5,621$4,973$4,391$3,869$3,405$3,110
13 years$5,136$4,494$3,923$3,416$2,969$2,688
14 years$4,720$4,085$3,525$3,032$2,602$2,335
15 years$4,360$3,732$3,182$2,704$2,291$2,037
16 years$4,045$3,424$2,885$2,421$2,025$1,784
17 years$3,767$3,153$2,625$2,176$1,796$1,567
18 years$3,521$2,914$2,397$1,961$1,597$1,379
19 years$3,301$2,700$2,194$1,772$1,423$1,217
20 years$3,103$2,509$2,014$1,605$1,271$1,077
21 years$2,924$2,337$1,852$1,456$1,138$954
22 years$2,762$2,182$1,707$1,324$1,020$846
23 years$2,614$2,041$1,576$1,206$915$752
24 years$2,478$1,912$1,458$1,100$823$668
25 years$2,354$1,794$1,350$1,004$740$595
26 years$2,239$1,686$1,252$918$667$530
27 years$2,133$1,587$1,163$841$601$473
28 years$2,035$1,495$1,081$770$542$422
29 years$1,944$1,411$1,006$706$490$377
30 years$1,858$1,332$937$648$443$337
31 years$1,779$1,259$873$595$400$301
32 years$1,705$1,192$815$547$362$269
33 years$1,635$1,129$761$503$328$241
34 years$1,570$1,070$711$463$297$216
35 years$1,508$1,015$665$426$269$193
36 years$1,450$963$622$392$243$173
37 years$1,395$915$582$362$221$155
38 years$1,344$869$545$333$200$139
39 years$1,295$826$511$307$181$124
40 years$1,248$786$479$283$164$111
41 years$1,204$749$449$262$149$100
42 years$1,162$713$421$241$135$90
43 years$1,123$679$395$223$123$80
44 years$1,085$647$371$206$112$72
45 years$1,049$617$348$190$101$65
46 years$1,014$589$327$175$92$58
47 years$981$562$307$162$83$52
48 years$950$537$289$150$76$47
49 years$920$512$271$138$69$42
50 years$891$489$255$128$63$38

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $913,000, adding $4,415 every year, while hoping to spend $21,277 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: 72/8/20 Blend
55$913,000$913,000$913,000$913,000
56$1,010,680$962,291$948,140$1,078,267
57$1,091,131$986,805$957,264$1,148,329
58$1,179,075$1,011,807$965,980$1,222,067
59$1,275,253$1,037,298$974,253$1,302,290
60$1,380,483$1,063,279$982,045$1,389,638
61$1,495,663$1,089,751$989,315$1,484,817
62$1,621,785$1,116,713$996,021$1,588,603
63$1,759,938$1,144,164$1,002,119$1,701,854
64$1,911,324$1,172,100$1,007,562$1,825,511
65$2,077,266$1,200,519$1,012,302$1,960,615
66$2,259,219$1,229,417$1,016,286$2,108,310
67$2,458,789$1,258,788$1,019,462$2,269,857
68$2,677,743$1,288,626$1,021,771$2,446,647
69$2,918,027$1,318,923$1,023,154$2,640,211
70$3,181,786$1,349,670$1,023,550$2,852,236
71$3,471,380$1,380,856$1,022,891$3,084,582
72$3,789,412$1,412,469$1,021,109$3,339,299
73$4,138,748$1,444,496$1,018,132$3,618,644
74$4,522,545$1,476,921$1,013,884$3,925,106
75$4,944,281$1,509,727$1,008,286$4,261,425
76$5,407,788$1,542,894$1,001,254$4,630,625
77$5,917,287$1,576,400$992,701$5,036,034
78$6,477,429$1,610,222$982,535$5,481,321
79$7,093,338$1,644,334$970,661$5,970,531
80$7,770,659$1,678,707$956,978$6,508,119
81$8,515,611$1,713,308$941,381$7,098,996
82$9,335,047$1,748,104$923,761$7,748,574
83$10,236,516$1,783,056$904,002$8,462,815
84$11,228,339$1,818,124$881,985$9,248,293
85$12,319,680$1,853,262$857,582$10,112,250
86$13,520,639$1,888,423$830,662$11,062,668
87$14,842,342$1,923,554$801,087$12,108,342
88$16,297,051$1,958,598$768,713$13,258,968
89$17,898,275$1,993,495$733,390$14,525,227
90$19,660,900$2,028,177$694,960$15,918,893
91$21,601,328$2,062,574$653,257$17,452,940
92$23,737,634$2,096,610$608,111$19,141,667
93$26,089,730$2,130,202$559,341$21,000,830
94$28,679,563$2,163,262$506,759$23,047,796
95$31,531,312$2,195,695$450,169$25,301,701
96$34,671,622$2,227,401$389,366$27,783,636
97$38,129,853$2,258,269$324,136$30,516,843
98$41,938,359$2,288,185$254,254$33,526,937
99$46,132,788$2,317,023$179,489$36,842,145
100$50,752,426$2,344,650$99,595$40,493,576