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%15.6%
1 years$75,890$75,214$74,555$73,911$73,282$71,598
2 years$37,569$36,870$36,192$35,534$34,896$33,209
3 years$24,797$24,095$23,418$22,767$22,140$20,501
4 years$18,413$17,712$17,043$16,402$15,790$14,214
5 years$14,583$13,887$13,226$12,599$12,003$10,494
6 years$12,031$11,339$10,688$10,075$9,498$8,056
7 years$10,208$9,523$8,882$8,283$7,724$6,351
8 years$8,842$8,163$7,533$6,949$6,408$5,102
9 years$7,780$7,107$6,488$5,919$5,397$4,157
10 years$6,931$6,265$5,656$5,102$4,598$3,424
11 years$6,236$5,577$4,980$4,440$3,955$2,845
12 years$5,658$5,006$4,419$3,895$3,427$2,379
13 years$5,170$4,524$3,948$3,438$2,988$2,000
14 years$4,751$4,112$3,548$3,052$2,620$1,690
15 years$4,388$3,756$3,203$2,722$2,306$1,432
16 years$4,072$3,446$2,904$2,437$2,038$1,218
17 years$3,792$3,174$2,643$2,190$1,807$1,038
18 years$3,544$2,933$2,412$1,974$1,607$887
19 years$3,323$2,718$2,208$1,783$1,432$759
20 years$3,123$2,526$2,027$1,615$1,279$651
21 years$2,943$2,353$1,864$1,466$1,145$559
22 years$2,780$2,196$1,718$1,333$1,026$480
23 years$2,631$2,054$1,586$1,214$921$413
24 years$2,495$1,924$1,467$1,107$828$355
25 years$2,369$1,806$1,359$1,011$745$306
26 years$2,254$1,697$1,260$924$671$264
27 years$2,147$1,597$1,170$846$605$227
28 years$2,048$1,505$1,088$775$546$196
29 years$1,956$1,420$1,012$711$493$169
30 years$1,871$1,341$943$652$446$146
31 years$1,791$1,268$879$599$403$126
32 years$1,716$1,200$820$551$364$109
33 years$1,646$1,136$766$506$330$94
34 years$1,580$1,077$716$466$299$81
35 years$1,518$1,021$669$429$270$70
36 years$1,460$969$626$395$245$61
37 years$1,404$921$586$364$222$53
38 years$1,352$875$549$335$201$45
39 years$1,303$832$514$309$183$39
40 years$1,256$792$482$285$166$34
41 years$1,212$753$452$263$150$29
42 years$1,170$718$424$243$136$25
43 years$1,130$684$398$224$124$22
44 years$1,092$652$373$207$112$19
45 years$1,056$621$350$191$102$16
46 years$1,021$593$329$177$93$14
47 years$988$566$309$163$84$12
48 years$956$540$291$151$76$11
49 years$926$516$273$139$69$9
50 years$897$493$257$129$63$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $919,000, adding $2,726 every year, while hoping to spend $59,772 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: 60/24/16 Blend
55$919,000$919,000$919,000$919,000
56$1,015,550$966,843$952,598$1,072,195
57$1,055,539$950,621$920,913$1,094,514
58$1,097,604$931,601$886,164$1,111,949
59$1,141,893$909,583$848,184$1,129,571
60$1,188,568$884,355$806,800$1,147,405
61$1,237,805$855,691$761,831$1,165,480
62$1,289,796$823,355$713,087$1,183,834
63$1,344,751$787,096$660,372$1,202,507
64$1,402,899$746,646$603,477$1,221,552
65$1,464,488$701,726$542,187$1,241,026
66$1,529,793$652,037$476,277$1,260,998
67$1,599,110$597,265$405,511$1,281,546
68$1,672,765$537,077$329,642$1,302,762
69$1,751,116$471,123$248,413$1,324,752
70$1,834,552$399,030$161,557$1,347,635
71$1,923,500$320,406$68,793$1,371,548
72$2,018,428$234,838$0$1,396,650
73$2,119,849$141,886$0$1,428,274
74$2,228,325$41,090$0$1,474,335
75$2,344,471$0$0$1,523,361
76$2,468,963$0$0$1,593,637
77$2,602,542$0$0$1,680,736
78$2,746,021$0$0$1,774,342
79$2,900,292$0$0$1,875,044
80$3,066,336$0$0$1,983,490
81$3,245,228$0$0$2,100,388
82$3,438,149$0$0$2,226,519
83$3,646,399$0$0$2,362,740
84$3,871,404$0$0$2,509,993
85$4,114,730$0$0$2,669,312
86$4,378,102$0$0$2,841,836
87$4,663,413$0$0$3,028,816
88$4,972,747$0$0$3,231,626
89$5,308,393$0$0$3,451,780
90$5,672,871$0$0$3,690,942
91$6,068,950$0$0$3,950,941
92$6,499,679$0$0$4,233,790
93$6,968,411$0$0$4,541,706
94$7,478,835$0$0$4,877,125
95$8,035,011$0$0$5,242,731
96$8,641,407$0$0$5,641,474
97$9,302,940$0$0$6,076,605
98$10,025,023$0$0$6,551,700
99$10,813,615$0$0$7,070,696
100$11,675,272$0$0$7,637,927