Can I retire at age 56 with 913,000?

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 $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%18.1%
1 years$75,395$74,723$74,068$73,428$72,804$70,417
2 years$37,324$36,629$35,955$35,302$34,669$32,287
3 years$24,636$23,937$23,265$22,618$21,995$19,693
4 years$18,293$17,597$16,931$16,295$15,687$13,482
5 years$14,488$13,796$13,139$12,516$11,925$9,823
6 years$11,952$11,265$10,619$10,009$9,436$7,439
7 years$10,141$9,461$8,824$8,229$7,674$5,782
8 years$8,784$8,110$7,484$6,903$6,366$4,577
9 years$7,729$7,061$6,446$5,880$5,361$3,674
10 years$6,886$6,224$5,619$5,069$4,568$2,979
11 years$6,196$5,541$4,947$4,411$3,929$2,435
12 years$5,621$4,973$4,391$3,869$3,405$2,003
13 years$5,136$4,494$3,923$3,416$2,969$1,656
14 years$4,720$4,085$3,525$3,032$2,602$1,375
15 years$4,360$3,732$3,182$2,704$2,291$1,145
16 years$4,045$3,424$2,885$2,421$2,025$957
17 years$3,767$3,153$2,625$2,176$1,796$801
18 years$3,521$2,914$2,397$1,961$1,597$672
19 years$3,301$2,700$2,194$1,772$1,423$564
20 years$3,103$2,509$2,014$1,605$1,271$474
21 years$2,924$2,337$1,852$1,456$1,138$399
22 years$2,762$2,182$1,707$1,324$1,020$337
23 years$2,614$2,041$1,576$1,206$915$284
24 years$2,478$1,912$1,458$1,100$823$240
25 years$2,354$1,794$1,350$1,004$740$202
26 years$2,239$1,686$1,252$918$667$171
27 years$2,133$1,587$1,163$841$601$144
28 years$2,035$1,495$1,081$770$542$122
29 years$1,944$1,411$1,006$706$490$103
30 years$1,858$1,332$937$648$443$87
31 years$1,779$1,259$873$595$400$74
32 years$1,705$1,192$815$547$362$62
33 years$1,635$1,129$761$503$328$53
34 years$1,570$1,070$711$463$297$45
35 years$1,508$1,015$665$426$269$38
36 years$1,450$963$622$392$243$32
37 years$1,395$915$582$362$221$27
38 years$1,344$869$545$333$200$23
39 years$1,295$826$511$307$181$19
40 years$1,248$786$479$283$164$16
41 years$1,204$749$449$262$149$14
42 years$1,162$713$421$241$135$12
43 years$1,123$679$395$223$123$10
44 years$1,085$647$371$206$112$8
45 years$1,049$617$348$190$101$7
46 years$1,014$589$327$175$92$6
47 years$981$562$307$162$83$5
48 years$950$537$289$150$76$4
49 years$920$512$271$138$69$4
50 years$891$489$255$128$63$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $913,000, adding $6,820 every year, while hoping to spend $38,711 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: 56/20/24 Blend
55$913,000$913,000$913,000$913,000
56$1,013,161$964,772$950,620$1,062,915
57$1,075,315$970,857$941,278$1,103,846
58$1,142,512$975,944$930,325$1,143,762
59$1,215,224$979,941$917,667$1,186,434
60$1,293,972$982,754$903,205$1,232,137
61$1,379,329$984,280$886,834$1,281,179
62$1,471,924$984,413$868,445$1,333,898
63$1,572,448$983,037$847,926$1,390,669
64$1,681,662$980,031$825,157$1,451,906
65$1,800,405$975,266$800,012$1,518,069
66$1,929,596$968,604$772,363$1,589,664
67$2,070,250$959,901$742,072$1,667,254
68$2,223,482$949,002$708,998$1,751,458
69$2,390,518$935,744$672,990$1,842,963
70$2,572,709$919,954$633,894$1,942,528
71$2,771,542$901,448$591,546$2,050,991
72$2,988,654$880,033$545,777$2,169,280
73$3,225,844$855,503$496,408$2,298,418
74$3,485,097$827,639$443,255$2,439,538
75$3,768,596$796,212$386,123$2,593,891
76$4,078,744$760,978$324,809$2,762,859
77$4,418,189$721,679$259,103$2,947,970
78$4,789,844$678,041$188,783$3,150,909
79$5,196,920$629,777$113,619$3,373,541
80$5,642,950$576,580$33,370$3,617,922
81$6,131,828$518,130$0$3,886,325
82$6,667,840$454,084$0$4,194,645
83$7,255,709$384,083$0$4,542,257
84$7,900,634$307,745$0$4,923,734
85$8,608,343$224,670$0$5,342,528
86$9,385,148$134,432$0$5,802,443
87$10,237,997$36,584$0$6,307,672
88$11,174,547$0$0$6,862,842
89$12,203,232$0$0$7,488,313
90$13,333,342$0$0$8,184,387
91$14,575,113$0$0$8,949,326
92$15,939,821$0$0$9,790,089
93$17,439,887$0$0$10,714,339
94$19,088,998$0$0$11,730,520
95$20,902,230$0$0$12,847,937
96$22,896,196$0$0$14,076,839
97$25,089,197$0$0$15,428,519
98$27,501,399$0$0$16,915,420
99$30,155,018$0$0$18,551,249
100$33,074,533$0$0$20,351,113