Can I retire at age 56 with 915,000?

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 $915,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.8%
1 years$75,560$74,887$74,230$73,589$72,963$71,519
2 years$37,406$36,709$36,034$35,379$34,744$33,296
3 years$24,690$23,990$23,316$22,668$22,043$20,635
4 years$18,333$17,635$16,968$16,331$15,721$14,365
5 years$14,519$13,826$13,168$12,544$11,951$10,650
6 years$11,978$11,290$10,642$10,031$9,457$8,212
7 years$10,164$9,481$8,843$8,247$7,691$6,503
8 years$8,803$8,127$7,500$6,918$6,380$5,249
9 years$7,746$7,076$6,460$5,893$5,373$4,297
10 years$6,901$6,237$5,632$5,080$4,578$3,557
11 years$6,209$5,553$4,958$4,421$3,937$2,970
12 years$5,634$4,984$4,400$3,878$3,412$2,497
13 years$5,147$4,504$3,931$3,424$2,975$2,111
14 years$4,730$4,094$3,532$3,039$2,608$1,792
15 years$4,369$3,740$3,189$2,710$2,296$1,528
16 years$4,054$3,431$2,891$2,427$2,030$1,307
17 years$3,776$3,160$2,631$2,180$1,800$1,120
18 years$3,529$2,920$2,402$1,965$1,600$963
19 years$3,308$2,706$2,199$1,776$1,426$829
20 years$3,110$2,515$2,018$1,608$1,274$715
21 years$2,931$2,342$1,856$1,459$1,140$617
22 years$2,768$2,187$1,711$1,327$1,022$534
23 years$2,620$2,045$1,580$1,208$917$462
24 years$2,484$1,916$1,461$1,102$824$400
25 years$2,359$1,798$1,353$1,007$742$347
26 years$2,244$1,690$1,255$920$668$301
27 years$2,138$1,590$1,165$842$603$261
28 years$2,039$1,499$1,083$772$544$227
29 years$1,948$1,414$1,008$708$491$197
30 years$1,863$1,335$939$650$444$171
31 years$1,783$1,262$875$597$401$149
32 years$1,708$1,194$817$548$363$129
33 years$1,639$1,131$763$504$328$113
34 years$1,573$1,072$712$464$297$98
35 years$1,511$1,017$666$427$269$85
36 years$1,453$965$623$393$244$74
37 years$1,398$917$583$362$221$64
38 years$1,347$871$546$334$200$56
39 years$1,297$828$512$308$182$49
40 years$1,251$788$480$284$165$43
41 years$1,207$750$450$262$150$37
42 years$1,165$714$422$242$136$32
43 years$1,125$681$396$223$123$28
44 years$1,087$649$372$206$112$24
45 years$1,051$619$349$190$101$21
46 years$1,017$590$328$176$92$19
47 years$984$563$308$162$84$16
48 years$952$538$289$150$76$14
49 years$922$514$272$139$69$12
50 years$893$491$256$128$63$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $915,000, adding $6,941 every year, while hoping to spend $53,596 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: 71/20/9 Blend
55$915,000$915,000$915,000$915,000
56$1,015,490$966,995$952,812$1,085,430
57$1,062,044$957,352$927,706$1,122,968
58$1,111,550$945,440$899,962$1,156,776
59$1,164,253$931,091$869,436$1,192,320
60$1,220,421$914,129$835,975$1,229,759
61$1,280,346$894,363$799,423$1,269,267
62$1,344,351$871,596$759,612$1,311,039
63$1,412,785$845,615$716,371$1,355,290
64$1,486,037$816,198$669,516$1,402,258
65$1,564,528$783,107$618,861$1,452,207
66$1,648,724$746,093$564,206$1,505,430
67$1,739,132$704,890$505,346$1,562,251
68$1,836,313$659,219$442,064$1,623,028
69$1,940,880$608,784$374,136$1,688,158
70$2,053,506$553,270$301,326$1,758,082
71$2,174,932$492,349$223,388$1,833,287
72$2,305,970$425,669$140,067$1,914,310
73$2,447,513$352,861$51,094$2,001,750
74$2,600,544$273,536$0$2,096,265
75$2,766,140$187,280$0$2,202,799
76$2,945,488$93,658$0$2,323,459
77$3,139,891$0$0$2,454,255
78$3,350,784$0$0$2,597,922
79$3,579,742$0$0$2,776,314
80$3,828,499$0$0$2,970,173
81$4,098,965$0$0$3,180,993
82$4,393,236$0$0$3,410,414
83$4,713,622$0$0$3,660,242
84$5,062,665$0$0$3,932,465
85$5,443,160$0$0$4,229,269
86$5,858,185$0$0$4,553,061
87$6,311,126$0$0$4,906,491
88$6,805,713$0$0$5,292,475
89$7,346,050$0$0$5,714,223
90$7,936,655$0$0$6,175,269
91$8,582,503$0$0$6,679,506
92$9,289,071$0$0$7,231,217
93$10,062,390$0$0$7,835,120
94$10,909,102$0$0$8,496,411
95$11,836,519$0$0$9,220,809
96$12,852,696$0$0$10,014,616
97$13,966,501$0$0$10,884,769
98$15,187,703$0$0$11,838,911
99$16,527,062$0$0$12,885,459
100$17,996,427$0$0$14,033,681