Can I retire at age 56 with 920,000?

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 $920,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.5%
1 years$75,973$75,296$74,636$73,991$73,362$71,415
2 years$37,610$36,910$36,231$35,573$34,934$32,986
3 years$24,824$24,121$23,444$22,792$22,164$20,275
4 years$18,433$17,731$17,061$16,420$15,807$13,994
5 years$14,599$13,902$13,240$12,612$12,017$10,282
6 years$12,044$11,352$10,700$10,086$9,508$7,855
7 years$10,219$9,533$8,892$8,292$7,733$6,161
8 years$8,852$8,172$7,541$6,956$6,415$4,924
9 years$7,788$7,115$6,495$5,925$5,402$3,990
10 years$6,938$6,271$5,662$5,108$4,603$3,268
11 years$6,243$5,583$4,985$4,445$3,959$2,699
12 years$5,664$5,011$4,424$3,899$3,431$2,244
13 years$5,175$4,529$3,953$3,442$2,992$1,876
14 years$4,756$4,116$3,552$3,056$2,622$1,575
15 years$4,393$3,760$3,207$2,725$2,309$1,327
16 years$4,076$3,450$2,907$2,440$2,041$1,121
17 years$3,796$3,177$2,645$2,192$1,809$949
18 years$3,548$2,936$2,415$1,976$1,609$806
19 years$3,326$2,721$2,211$1,785$1,434$685
20 years$3,127$2,529$2,029$1,617$1,281$583
21 years$2,947$2,355$1,866$1,467$1,146$497
22 years$2,783$2,199$1,720$1,334$1,027$424
23 years$2,634$2,056$1,588$1,215$922$362
24 years$2,497$1,927$1,469$1,108$829$310
25 years$2,372$1,808$1,360$1,012$746$265
26 years$2,256$1,699$1,262$925$672$226
27 years$2,150$1,599$1,172$847$606$194
28 years$2,050$1,507$1,089$776$547$166
29 years$1,958$1,422$1,014$712$494$142
30 years$1,873$1,343$944$653$446$122
31 years$1,793$1,269$880$600$403$104
32 years$1,718$1,201$821$551$365$90
33 years$1,648$1,137$767$507$330$77
34 years$1,582$1,078$716$466$299$66
35 years$1,520$1,022$670$429$271$56
36 years$1,461$970$627$395$245$48
37 years$1,406$922$586$364$222$42
38 years$1,354$876$549$336$202$36
39 years$1,305$833$515$310$183$31
40 years$1,258$792$482$286$166$26
41 years$1,213$754$452$264$150$23
42 years$1,171$718$424$243$136$19
43 years$1,131$684$398$224$124$17
44 years$1,093$652$374$207$112$14
45 years$1,057$622$351$191$102$12
46 years$1,022$593$330$177$93$10
47 years$989$566$310$163$84$9
48 years$957$541$291$151$76$8
49 years$927$516$273$140$69$7
50 years$898$493$257$129$63$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $920,000, adding $2,368 every year, while hoping to spend $47,099 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: 57/30/13 Blend
55$920,000$920,000$920,000$920,000
56$1,016,283$967,523$953,263$1,070,734
57$1,069,830$964,818$935,084$1,105,133
58$1,127,262$960,403$914,718$1,137,204
59$1,188,922$954,143$892,041$1,171,045
60$1,255,193$945,896$866,925$1,206,832
61$1,326,491$935,513$839,235$1,244,763
62$1,403,274$922,835$808,830$1,285,056
63$1,486,046$907,691$775,564$1,327,956
64$1,575,359$889,904$739,282$1,373,732
65$1,671,821$869,285$699,823$1,422,684
66$1,776,098$845,632$657,019$1,475,146
67$1,888,925$818,733$610,694$1,531,490
68$2,011,108$788,363$560,665$1,592,125
69$2,143,533$754,285$506,739$1,657,508
70$2,287,176$716,247$448,717$1,728,146
71$2,443,107$673,983$386,388$1,804,601
72$2,612,507$627,210$319,535$1,887,494
73$2,796,671$575,633$247,928$1,977,517
74$2,997,028$518,935$171,330$2,075,435
75$3,215,147$456,784$89,492$2,182,097
76$3,452,755$388,830$2,153$2,298,441
77$3,711,753$314,700$0$2,425,509
78$3,994,234$234,002$0$2,577,085
79$4,302,500$146,323$0$2,742,953
80$4,639,087$51,224$0$2,924,271
81$5,006,784$0$0$3,122,644
82$5,408,662$0$0$3,356,934
83$5,848,105$0$0$3,631,691
84$6,328,836$0$0$3,932,342
85$6,854,954$0$0$4,261,462
86$7,430,974$0$0$4,621,885
87$8,061,868$0$0$5,016,731
88$8,753,111$0$0$5,449,440
89$9,510,732$0$0$5,923,797
90$10,341,371$0$0$6,443,971
91$11,252,343$0$0$7,014,555
92$12,251,703$0$0$7,640,608
93$13,348,323$0$0$8,327,701
94$14,551,978$0$0$9,081,972
95$15,873,432$0$0$9,910,181
96$17,324,545$0$0$10,819,776
97$18,918,380$0$0$11,818,960
98$20,669,328$0$0$12,916,771
99$22,593,244$0$0$14,123,165
100$24,707,591$0$0$15,449,112