Can I retire at age 56 with 917,000?

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 $917,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11%
1 years$75,725$75,050$74,392$73,750$73,123$72,815
2 years$37,488$36,789$36,113$35,457$34,820$34,509
3 years$24,743$24,042$23,367$22,717$22,092$21,787
4 years$18,373$17,674$17,005$16,367$15,756$15,460
5 years$14,551$13,856$13,197$12,571$11,977$11,692
6 years$12,004$11,315$10,665$10,053$9,477$9,202
7 years$10,186$9,502$8,863$8,265$7,708$7,443
8 years$8,823$8,145$7,516$6,934$6,394$6,140
9 years$7,763$7,092$6,474$5,906$5,385$5,141
10 years$6,916$6,251$5,644$5,091$4,588$4,354
11 years$6,223$5,565$4,969$4,431$3,946$3,722
12 years$5,646$4,995$4,410$3,886$3,419$3,206
13 years$5,158$4,514$3,940$3,431$2,982$2,778
14 years$4,741$4,103$3,540$3,046$2,614$2,420
15 years$4,379$3,748$3,196$2,716$2,301$2,116
16 years$4,063$3,439$2,898$2,432$2,034$1,858
17 years$3,784$3,167$2,637$2,185$1,804$1,636
18 years$3,537$2,926$2,407$1,969$1,604$1,445
19 years$3,315$2,712$2,204$1,779$1,429$1,279
20 years$3,117$2,520$2,022$1,612$1,277$1,134
21 years$2,937$2,348$1,860$1,463$1,143$1,008
22 years$2,774$2,191$1,714$1,330$1,024$897
23 years$2,625$2,050$1,583$1,211$919$799
24 years$2,489$1,920$1,464$1,105$826$713
25 years$2,364$1,802$1,356$1,009$744$636
26 years$2,249$1,694$1,258$922$670$569
27 years$2,142$1,594$1,168$844$604$509
28 years$2,044$1,502$1,086$774$545$456
29 years$1,952$1,417$1,010$709$492$408
30 years$1,867$1,338$941$651$445$366
31 years$1,787$1,265$877$598$402$328
32 years$1,712$1,197$818$549$364$294
33 years$1,642$1,134$764$505$329$264
34 years$1,576$1,074$714$465$298$237
35 years$1,515$1,019$668$428$270$213
36 years$1,456$967$625$394$244$192
37 years$1,401$919$585$363$222$172
38 years$1,349$873$547$335$201$155
39 years$1,300$830$513$309$182$139
40 years$1,254$790$481$285$165$125
41 years$1,209$752$451$263$150$113
42 years$1,167$716$423$242$136$101
43 years$1,128$682$397$224$123$91
44 years$1,090$650$372$207$112$82
45 years$1,053$620$350$191$102$74
46 years$1,019$592$328$176$92$66
47 years$986$565$309$163$84$60
48 years$954$539$290$150$76$54
49 years$924$515$273$139$69$48
50 years$895$492$256$129$63$44

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $917,000, adding $2,584 every year, while hoping to spend $38,093 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: 36/37/27 Blend
55$917,000$917,000$917,000$917,000
56$1,013,199$964,598$950,385$1,041,376
57$1,076,015$971,333$941,692$1,069,244
58$1,143,961$977,121$931,431$1,095,665
59$1,217,521$981,876$919,510$1,123,450
60$1,297,225$985,505$905,831$1,152,749
61$1,383,658$987,911$890,292$1,183,726
62$1,477,462$988,989$872,788$1,216,566
63$1,579,343$988,629$853,206$1,251,476
64$1,690,078$986,714$831,431$1,288,685
65$1,810,522$983,119$807,339$1,328,451
66$1,941,615$977,711$780,805$1,371,060
67$2,084,391$970,351$751,693$1,416,830
68$2,239,990$960,889$719,866$1,466,116
69$2,409,664$949,167$685,176$1,519,315
70$2,594,792$935,019$647,472$1,576,865
71$2,796,893$918,267$606,595$1,639,255
72$3,017,637$898,723$562,376$1,707,030
73$3,258,864$876,189$514,644$1,780,794
74$3,522,599$850,453$463,216$1,861,218
75$3,811,073$821,293$407,901$1,949,046
76$4,126,739$788,473$348,503$2,045,106
77$4,472,301$751,743$284,813$2,150,317
78$4,850,737$710,840$216,615$2,265,695
79$5,265,325$665,484$143,684$2,392,372
80$5,719,675$615,379$65,785$2,531,598
81$6,217,763$560,214$0$2,684,762
82$6,763,968$499,658$0$2,858,399
83$7,363,114$433,362$0$3,069,764
84$8,020,514$360,959$0$3,301,851
85$8,742,018$282,058$0$3,556,828
86$9,534,074$196,249$0$3,837,092
87$10,403,781$103,096$0$4,145,292
88$11,358,960$2,142$0$4,484,351
89$12,408,229$0$0$4,857,499
90$13,561,079$0$0$5,311,908
91$14,827,967$0$0$5,812,364
92$16,220,413$0$0$6,362,564
93$17,751,107$0$0$6,967,541
94$19,434,034$0$0$7,632,839
95$21,284,597$0$0$8,364,568
96$23,319,768$0$0$9,169,458
97$25,558,247$0$0$10,054,926
98$28,020,637$0$0$11,029,142
99$30,729,637$0$0$12,101,110
100$33,710,259$0$0$13,280,748