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%17.3%
1 years$75,395$74,723$74,068$73,428$72,804$70,643
2 years$37,324$36,629$35,955$35,302$34,669$32,510
3 years$24,636$23,937$23,265$22,618$21,995$19,906
4 years$18,293$17,597$16,931$16,295$15,687$13,683
5 years$14,488$13,796$13,139$12,516$11,925$10,012
6 years$11,952$11,265$10,619$10,009$9,436$7,615
7 years$10,141$9,461$8,824$8,229$7,674$5,946
8 years$8,784$8,110$7,484$6,903$6,366$4,729
9 years$7,729$7,061$6,446$5,880$5,361$3,814
10 years$6,886$6,224$5,619$5,069$4,568$3,109
11 years$6,196$5,541$4,947$4,411$3,929$2,554
12 years$5,621$4,973$4,391$3,869$3,405$2,112
13 years$5,136$4,494$3,923$3,416$2,969$1,756
14 years$4,720$4,085$3,525$3,032$2,602$1,466
15 years$4,360$3,732$3,182$2,704$2,291$1,228
16 years$4,045$3,424$2,885$2,421$2,025$1,032
17 years$3,767$3,153$2,625$2,176$1,796$869
18 years$3,521$2,914$2,397$1,961$1,597$733
19 years$3,301$2,700$2,194$1,772$1,423$619
20 years$3,103$2,509$2,014$1,605$1,271$524
21 years$2,924$2,337$1,852$1,456$1,138$444
22 years$2,762$2,182$1,707$1,324$1,020$376
23 years$2,614$2,041$1,576$1,206$915$319
24 years$2,478$1,912$1,458$1,100$823$271
25 years$2,354$1,794$1,350$1,004$740$231
26 years$2,239$1,686$1,252$918$667$196
27 years$2,133$1,587$1,163$841$601$167
28 years$2,035$1,495$1,081$770$542$142
29 years$1,944$1,411$1,006$706$490$121
30 years$1,858$1,332$937$648$443$103
31 years$1,779$1,259$873$595$400$87
32 years$1,705$1,192$815$547$362$75
33 years$1,635$1,129$761$503$328$63
34 years$1,570$1,070$711$463$297$54
35 years$1,508$1,015$665$426$269$46
36 years$1,450$963$622$392$243$39
37 years$1,395$915$582$362$221$33
38 years$1,344$869$545$333$200$28
39 years$1,295$826$511$307$181$24
40 years$1,248$786$479$283$164$21
41 years$1,204$749$449$262$149$18
42 years$1,162$713$421$241$135$15
43 years$1,123$679$395$223$123$13
44 years$1,085$647$371$206$112$11
45 years$1,049$617$348$190$101$9
46 years$1,014$589$327$175$92$8
47 years$981$562$307$162$83$7
48 years$950$537$289$150$76$6
49 years$920$512$271$138$69$5
50 years$891$489$255$128$63$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $913,000, adding $4,571 every year, while hoping to spend $53,536 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: 52/30/18 Blend
55$913,000$913,000$913,000$913,000
56$1,010,841$962,452$948,300$1,058,200
57$1,056,985$952,650$923,107$1,081,421
58$1,106,041$940,574$895,275$1,100,687
59$1,158,250$926,055$864,659$1,120,477
60$1,213,876$908,916$831,109$1,140,858
61$1,273,206$888,967$794,466$1,161,907
62$1,336,556$866,010$754,564$1,183,712
63$1,404,273$839,832$711,230$1,206,371
64$1,476,735$810,211$664,283$1,229,999
65$1,554,360$776,909$613,534$1,254,725
66$1,637,602$739,675$558,785$1,280,693
67$1,726,964$698,245$499,830$1,308,070
68$1,822,993$652,338$436,453$1,337,043
69$1,926,293$601,658$368,430$1,367,821
70$2,037,527$545,891$295,524$1,400,642
71$2,157,422$484,706$217,491$1,435,773
72$2,286,776$417,754$134,074$1,473,514
73$2,426,466$344,663$45,005$1,514,202
74$2,577,458$265,044$0$1,558,215
75$2,740,811$178,484$0$1,615,588
76$2,917,691$84,546$0$1,687,033
77$3,109,377$0$0$1,764,485
78$3,317,280$0$0$1,854,287
79$3,542,947$0$0$1,982,134
80$3,788,081$0$0$2,121,090
81$4,054,558$0$0$2,272,228
82$4,344,439$0$0$2,436,729
83$4,659,991$0$0$2,615,890
84$5,003,711$0$0$2,811,139
85$5,378,345$0$0$3,024,049
86$5,786,915$0$0$3,256,351
87$6,232,749$0$0$3,509,948
88$6,719,509$0$0$3,786,938
89$7,251,225$0$0$4,089,629
90$7,832,335$0$0$4,420,562
91$8,467,726$0$0$4,782,534
92$9,162,775$0$0$5,178,627
93$9,923,408$0$0$5,612,231
94$10,756,144$0$0$6,087,082
95$11,668,167$0$0$6,607,295
96$12,667,386$0$0$7,177,397
97$13,762,510$0$0$7,802,379
98$14,963,133$0$0$8,487,736
99$16,279,821$0$0$9,239,518
100$17,724,209$0$0$10,064,392