Can I retire at age 56 with 919,000?

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 $919,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.8%
1 years$75,890$75,214$74,555$73,911$73,282$70,403
2 years$37,569$36,870$36,192$35,534$34,896$32,030
3 years$24,797$24,095$23,418$22,767$22,140$19,378
4 years$18,413$17,712$17,043$16,402$15,790$13,153
5 years$14,583$13,887$13,226$12,599$12,003$9,498
6 years$12,031$11,339$10,688$10,075$9,498$7,126
7 years$10,208$9,523$8,882$8,283$7,724$5,485
8 years$8,842$8,163$7,533$6,949$6,408$4,299
9 years$7,780$7,107$6,488$5,919$5,397$3,414
10 years$6,931$6,265$5,656$5,102$4,598$2,739
11 years$6,236$5,577$4,980$4,440$3,955$2,214
12 years$5,658$5,006$4,419$3,895$3,427$1,801
13 years$5,170$4,524$3,948$3,438$2,988$1,472
14 years$4,751$4,112$3,548$3,052$2,620$1,208
15 years$4,388$3,756$3,203$2,722$2,306$994
16 years$4,072$3,446$2,904$2,437$2,038$820
17 years$3,792$3,174$2,643$2,190$1,807$678
18 years$3,544$2,933$2,412$1,974$1,607$561
19 years$3,323$2,718$2,208$1,783$1,432$465
20 years$3,123$2,526$2,027$1,615$1,279$386
21 years$2,943$2,353$1,864$1,466$1,145$321
22 years$2,780$2,196$1,718$1,333$1,026$267
23 years$2,631$2,054$1,586$1,214$921$222
24 years$2,495$1,924$1,467$1,107$828$185
25 years$2,369$1,806$1,359$1,011$745$154
26 years$2,254$1,697$1,260$924$671$128
27 years$2,147$1,597$1,170$846$605$107
28 years$2,048$1,505$1,088$775$546$89
29 years$1,956$1,420$1,012$711$493$74
30 years$1,871$1,341$943$652$446$62
31 years$1,791$1,268$879$599$403$52
32 years$1,716$1,200$820$551$364$43
33 years$1,646$1,136$766$506$330$36
34 years$1,580$1,077$716$466$299$30
35 years$1,518$1,021$669$429$270$25
36 years$1,460$969$626$395$245$21
37 years$1,404$921$586$364$222$17
38 years$1,352$875$549$335$201$15
39 years$1,303$832$514$309$183$12
40 years$1,256$792$482$285$166$10
41 years$1,212$753$452$263$150$8
42 years$1,170$718$424$243$136$7
43 years$1,130$684$398$224$124$6
44 years$1,092$652$373$207$112$5
45 years$1,056$621$350$191$102$4
46 years$1,021$593$329$177$93$3
47 years$988$566$309$163$84$3
48 years$956$540$291$151$76$2
49 years$926$516$273$139$69$2
50 years$897$493$257$129$63$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $919,000, adding $2,473 every year, while hoping to spend $36,291 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: 39/31/30 Blend
55$919,000$919,000$919,000$919,000
56$1,015,289$966,582$952,337$1,045,780
57$1,080,235$975,331$945,627$1,077,134
58$1,150,589$983,293$937,476$1,107,511
59$1,226,865$990,390$927,797$1,139,682
60$1,309,627$996,540$916,500$1,173,833
61$1,399,496$1,001,657$903,490$1,210,173
62$1,497,154$1,005,648$888,666$1,248,936
63$1,603,353$1,008,414$871,926$1,290,380
64$1,718,919$1,009,851$853,159$1,334,792
65$1,844,762$1,009,847$832,253$1,382,491
66$1,981,881$1,008,283$809,088$1,433,833
67$2,131,380$1,005,035$783,539$1,489,211
68$2,294,468$999,970$755,475$1,549,063
69$2,472,480$992,945$724,760$1,613,873
70$2,666,885$983,811$691,251$1,684,179
71$2,879,299$972,410$654,800$1,760,580
72$3,111,502$958,572$615,250$1,843,735
73$3,365,452$942,119$572,438$1,934,380
74$3,643,308$922,862$526,194$2,033,327
75$3,947,444$900,601$476,340$2,141,476
76$4,280,476$875,124$422,691$2,259,826
77$4,645,285$846,205$365,051$2,389,481
78$5,045,043$813,608$303,219$2,531,664
79$5,483,243$777,080$236,983$2,687,731
80$5,963,734$736,357$166,121$2,859,179
81$6,490,752$691,155$90,403$3,047,667
82$7,068,965$641,179$9,588$3,255,029
83$7,703,515$586,112$0$3,483,296
84$8,400,065$525,623$0$3,759,249
85$9,164,853$459,360$0$4,065,702
86$10,004,751$386,951$0$4,402,417
87$10,927,328$308,005$0$4,772,517
88$11,940,924$222,106$0$5,179,451
89$13,054,726$128,817$0$5,627,025
90$14,278,854$27,675$0$6,119,436
91$15,624,459$0$0$6,661,318
92$17,103,824$0$0$7,285,688
93$18,730,482$0$0$7,982,740
94$20,519,345$0$0$8,749,439
95$22,486,840$0$0$9,592,844
96$24,651,067$0$0$10,520,732
97$27,031,968$0$0$11,541,670
98$29,651,515$0$0$12,665,101
99$32,533,919$0$0$13,901,427
100$35,705,853$0$0$15,262,109