Can I retire at age 56 with 918,000?

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 $918,000?

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$75,808$75,132$74,474$73,830$73,203$71,754
2 years$37,529$36,830$36,152$35,495$34,858$33,405
3 years$24,770$24,069$23,393$22,742$22,116$20,703
4 years$18,393$17,693$17,024$16,385$15,773$14,412
5 years$14,567$13,871$13,211$12,585$11,990$10,684
6 years$12,017$11,327$10,677$10,064$9,488$8,238
7 years$10,197$9,512$8,872$8,274$7,716$6,524
8 years$8,832$8,154$7,525$6,941$6,401$5,266
9 years$7,771$7,099$6,481$5,912$5,391$4,311
10 years$6,923$6,258$5,650$5,096$4,593$3,569
11 years$6,230$5,571$4,974$4,435$3,950$2,980
12 years$5,652$5,000$4,415$3,890$3,423$2,505
13 years$5,164$4,519$3,944$3,435$2,985$2,118
14 years$4,746$4,107$3,544$3,049$2,617$1,798
15 years$4,384$3,752$3,200$2,719$2,304$1,533
16 years$4,067$3,443$2,901$2,435$2,036$1,311
17 years$3,788$3,170$2,640$2,188$1,805$1,124
18 years$3,540$2,930$2,410$1,971$1,605$966
19 years$3,319$2,715$2,206$1,781$1,431$832
20 years$3,120$2,523$2,025$1,613$1,278$717
21 years$2,940$2,350$1,862$1,464$1,144$619
22 years$2,777$2,194$1,716$1,331$1,025$535
23 years$2,628$2,052$1,585$1,212$920$463
24 years$2,492$1,922$1,466$1,106$827$401
25 years$2,367$1,804$1,357$1,010$744$348
26 years$2,251$1,696$1,259$923$670$302
27 years$2,145$1,596$1,169$845$604$262
28 years$2,046$1,504$1,087$774$545$227
29 years$1,954$1,418$1,011$710$493$198
30 years$1,869$1,340$942$652$445$172
31 years$1,789$1,266$878$599$402$149
32 years$1,714$1,198$819$550$364$130
33 years$1,644$1,135$765$506$329$113
34 years$1,578$1,076$715$465$298$98
35 years$1,516$1,020$668$428$270$85
36 years$1,458$968$625$395$245$74
37 years$1,403$920$585$364$222$65
38 years$1,351$874$548$335$201$56
39 years$1,302$831$513$309$182$49
40 years$1,255$791$481$285$165$43
41 years$1,211$753$451$263$150$37
42 years$1,169$717$423$243$136$32
43 years$1,129$683$397$224$124$28
44 years$1,091$651$373$207$112$25
45 years$1,054$621$350$191$102$21
46 years$1,020$592$329$176$92$19
47 years$987$565$309$163$84$16
48 years$955$539$290$151$76$14
49 years$925$515$273$139$69$12
50 years$896$492$257$129$63$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $918,000, adding $5,919 every year, while hoping to spend $42,383 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: 65/26/9 Blend
55$918,000$918,000$918,000$918,000
56$1,017,741$969,087$954,858$1,081,632
57$1,076,456$971,478$941,751$1,127,323
58$1,139,739$972,564$926,784$1,171,674
59$1,208,011$972,239$909,850$1,219,034
60$1,281,736$970,386$890,838$1,269,693
61$1,361,422$966,884$869,630$1,323,972
62$1,447,627$961,602$846,103$1,382,224
63$1,540,967$954,402$820,129$1,444,840
64$1,642,116$945,139$791,574$1,512,251
65$1,751,818$933,656$760,298$1,584,934
66$1,870,889$919,791$726,153$1,663,416
67$2,000,227$903,368$688,987$1,748,279
68$2,140,821$884,203$648,638$1,840,165
69$2,293,757$862,102$604,940$1,939,785
70$2,460,231$836,856$557,717$2,047,922
71$2,641,560$808,248$506,786$2,165,442
72$2,839,192$776,044$451,956$2,293,303
73$3,054,721$740,001$393,027$2,432,560
74$3,289,900$699,859$329,791$2,584,379
75$3,546,660$655,343$262,030$2,750,050
76$3,827,128$606,163$189,517$2,930,995
77$4,133,643$552,013$112,013$3,128,784
78$4,468,781$492,568$29,272$3,345,151
79$4,835,378$427,486$0$3,582,010
80$5,236,559$356,404$0$3,847,144
81$5,675,760$278,940$0$4,140,585
82$6,156,770$194,691$0$4,462,121
83$6,683,758$103,228$0$4,814,624
84$7,261,318$4,103$0$5,201,259
85$7,894,507$0$0$5,625,521
86$8,588,896$0$0$6,120,778
87$9,350,621$0$0$6,665,411
88$10,186,441$0$0$7,263,087
89$11,103,798$0$0$7,919,136
90$12,110,894$0$0$8,639,431
91$13,216,761$0$0$9,430,442
92$14,431,348$0$0$10,299,294
93$15,765,617$0$0$11,253,838
94$17,231,644$0$0$12,302,722
95$18,842,730$0$0$13,455,474
96$20,613,531$0$0$14,722,589
97$22,560,192$0$0$16,115,631
98$24,700,501$0$0$17,647,341
99$27,054,055$0$0$19,331,755
100$29,642,446$0$0$21,184,337