Can I retire at age 56 with 914,000?

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 $914,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.2%
1 years$75,477$74,805$74,149$73,509$72,884$71,617
2 years$37,365$36,669$35,995$35,341$34,706$33,435
3 years$24,663$23,964$23,291$22,643$22,019$20,782
4 years$18,313$17,616$16,950$16,313$15,704$14,511
5 years$14,504$13,811$13,154$12,530$11,938$10,792
6 years$11,965$11,278$10,630$10,020$9,446$8,348
7 years$10,153$9,471$8,834$8,238$7,682$6,633
8 years$8,794$8,118$7,492$6,911$6,373$5,373
9 years$7,738$7,069$6,453$5,887$5,367$4,415
10 years$6,893$6,231$5,626$5,074$4,573$3,668
11 years$6,203$5,547$4,953$4,416$3,933$3,074
12 years$5,628$4,978$4,395$3,874$3,408$2,594
13 years$5,141$4,499$3,927$3,420$2,972$2,202
14 years$4,725$4,090$3,528$3,036$2,605$1,877
15 years$4,365$3,736$3,186$2,707$2,294$1,607
16 years$4,049$3,428$2,888$2,424$2,027$1,380
17 years$3,772$3,157$2,628$2,178$1,798$1,188
18 years$3,525$2,917$2,399$1,963$1,598$1,026
19 years$3,305$2,703$2,196$1,774$1,425$887
20 years$3,106$2,512$2,016$1,606$1,273$768
21 years$2,927$2,340$1,854$1,458$1,139$667
22 years$2,765$2,184$1,709$1,326$1,021$579
23 years$2,617$2,043$1,578$1,207$916$503
24 years$2,481$1,914$1,459$1,101$824$438
25 years$2,356$1,796$1,351$1,006$741$382
26 years$2,242$1,688$1,253$919$668$333
27 years$2,135$1,589$1,164$842$602$290
28 years$2,037$1,497$1,082$771$543$253
29 years$1,946$1,412$1,007$707$490$221
30 years$1,861$1,334$938$649$443$193
31 years$1,781$1,261$874$596$401$169
32 years$1,707$1,193$816$548$362$147
33 years$1,637$1,130$762$504$328$129
34 years$1,571$1,071$712$463$297$113
35 years$1,510$1,016$665$427$269$98
36 years$1,452$964$622$393$244$86
37 years$1,397$916$583$362$221$75
38 years$1,345$870$546$334$200$66
39 years$1,296$827$511$308$182$58
40 years$1,250$787$479$284$165$50
41 years$1,206$749$449$262$149$44
42 years$1,164$714$421$242$136$39
43 years$1,124$680$395$223$123$34
44 years$1,086$648$371$206$112$30
45 years$1,050$618$349$190$101$26
46 years$1,015$590$327$176$92$23
47 years$983$563$308$162$84$20
48 years$951$537$289$150$76$17
49 years$921$513$272$139$69$15
50 years$892$490$255$128$63$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $914,000, adding $2,890 every year, while hoping to spend $40,575 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: 51/38/11 Blend
55$914,000$914,000$914,000$914,000
56$1,010,209$961,767$947,600$1,058,644
57$1,070,079$965,722$936,173$1,095,999
58$1,134,696$968,511$923,004$1,132,031
59$1,204,500$970,034$907,990$1,170,267
60$1,279,978$970,185$891,027$1,210,926
61$1,361,663$968,850$872,003$1,254,251
62$1,450,139$965,911$850,802$1,300,509
63$1,546,052$961,239$827,302$1,349,998
64$1,650,110$954,701$801,378$1,403,049
65$1,763,093$946,152$772,895$1,460,028
66$1,885,857$935,442$741,716$1,521,339
67$2,019,345$922,410$707,694$1,587,433
68$2,164,594$906,884$670,678$1,658,807
69$2,322,746$888,685$630,509$1,736,012
70$2,495,057$867,621$587,021$1,819,660
71$2,682,908$843,489$540,042$1,910,428
72$2,887,820$816,076$489,389$2,009,063
73$3,111,468$785,154$434,874$2,116,395
74$3,355,695$750,484$376,299$2,233,341
75$3,622,529$711,810$313,458$2,360,918
76$3,914,203$668,865$246,135$2,500,249
77$4,233,176$621,364$174,105$2,652,578
78$4,582,156$569,007$97,134$2,819,278
79$4,964,124$511,476$14,976$3,001,872
80$5,382,362$448,436$0$3,202,042
81$5,840,485$379,531$0$3,430,181
82$6,342,474$304,388$0$3,682,243
83$6,892,713$222,609$0$3,958,773
84$7,496,030$133,778$0$4,262,320
85$8,157,744$37,452$0$4,595,695
86$8,883,712$0$0$4,962,005
87$9,680,386$0$0$5,392,627
88$10,554,873$0$0$5,882,596
89$11,515,000$0$0$6,420,649
90$12,569,392$0$0$7,011,631
91$13,727,547$0$0$7,660,880
92$14,999,931$0$0$8,374,276
93$16,398,071$0$0$9,158,295
94$17,934,668$0$0$10,020,074
95$19,623,713$0$0$10,967,475
96$21,480,623$0$0$12,009,160
97$23,522,378$0$0$13,154,671
98$25,767,691$0$0$14,414,522
99$28,237,176$0$0$15,800,298
100$30,953,545$0$0$17,324,760