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%19.2%
1 years$75,973$75,296$74,636$73,991$73,362$70,647
2 years$37,610$36,910$36,231$35,573$34,934$32,229
3 years$24,824$24,121$23,444$22,792$22,164$19,554
4 years$18,433$17,731$17,061$16,420$15,807$13,313
5 years$14,599$13,902$13,240$12,612$12,017$9,644
6 years$12,044$11,352$10,700$10,086$9,508$7,259
7 years$10,219$9,533$8,892$8,292$7,733$5,607
8 years$8,852$8,172$7,541$6,956$6,415$4,410
9 years$7,788$7,115$6,495$5,925$5,402$3,516
10 years$6,938$6,271$5,662$5,108$4,603$2,831
11 years$6,243$5,583$4,985$4,445$3,959$2,298
12 years$5,664$5,011$4,424$3,899$3,431$1,877
13 years$5,175$4,529$3,953$3,442$2,992$1,540
14 years$4,756$4,116$3,552$3,056$2,622$1,269
15 years$4,393$3,760$3,207$2,725$2,309$1,049
16 years$4,076$3,450$2,907$2,440$2,041$869
17 years$3,796$3,177$2,645$2,192$1,809$721
18 years$3,548$2,936$2,415$1,976$1,609$600
19 years$3,326$2,721$2,211$1,785$1,434$500
20 years$3,127$2,529$2,029$1,617$1,281$417
21 years$2,947$2,355$1,866$1,467$1,146$348
22 years$2,783$2,199$1,720$1,334$1,027$291
23 years$2,634$2,056$1,588$1,215$922$243
24 years$2,497$1,927$1,469$1,108$829$203
25 years$2,372$1,808$1,360$1,012$746$170
26 years$2,256$1,699$1,262$925$672$142
27 years$2,150$1,599$1,172$847$606$119
28 years$2,050$1,507$1,089$776$547$100
29 years$1,958$1,422$1,014$712$494$84
30 years$1,873$1,343$944$653$446$70
31 years$1,793$1,269$880$600$403$59
32 years$1,718$1,201$821$551$365$49
33 years$1,648$1,137$767$507$330$41
34 years$1,582$1,078$716$466$299$35
35 years$1,520$1,022$670$429$271$29
36 years$1,461$970$627$395$245$24
37 years$1,406$922$586$364$222$20
38 years$1,354$876$549$336$202$17
39 years$1,305$833$515$310$183$14
40 years$1,258$792$482$286$166$12
41 years$1,213$754$452$264$150$10
42 years$1,171$718$424$243$136$8
43 years$1,131$684$398$224$124$7
44 years$1,093$652$374$207$112$6
45 years$1,057$622$351$191$102$5
46 years$1,022$593$330$177$93$4
47 years$989$566$310$163$84$4
48 years$957$541$291$151$76$3
49 years$927$516$273$140$69$2
50 years$898$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 $920,000, adding $2,293 every year, while hoping to spend $58,435 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: 35/38/27 Blend
55$920,000$920,000$920,000$920,000
56$1,016,205$967,445$953,185$1,043,425
57$1,057,684$952,676$922,943$1,049,186
58$1,101,435$935,224$889,728$1,049,960
59$1,147,628$914,897$853,381$1,049,660
60$1,196,449$891,490$813,732$1,048,228
61$1,248,101$864,786$770,606$1,045,607
62$1,302,803$834,558$723,818$1,041,741
63$1,360,799$800,560$673,175$1,036,571
64$1,422,351$762,538$618,477$1,030,041
65$1,487,747$720,220$559,513$1,022,097
66$1,557,305$673,317$496,064$1,012,682
67$1,631,368$621,528$427,900$1,001,748
68$1,710,314$564,530$354,782$989,243
69$1,794,559$501,985$276,460$975,123
70$1,884,555$433,533$192,672$959,348
71$1,980,800$358,796$103,147$941,882
72$2,083,838$277,374$7,599$922,697
73$2,194,268$188,843$0$901,771
74$2,312,744$92,758$0$906,281
75$2,439,987$0$0$913,142
76$2,576,786$0$0$925,016
77$2,724,008$0$0$979,630
78$2,882,605$0$0$1,038,564
79$3,053,622$0$0$1,102,218
80$3,238,208$0$0$1,171,033
81$3,437,626$0$0$1,245,493
82$3,653,261$0$0$1,326,131
83$3,886,638$0$0$1,413,532
84$4,139,434$0$0$1,508,340
85$4,413,489$0$0$1,611,264
86$4,710,831$0$0$1,723,082
87$5,033,688$0$0$1,844,650
88$5,384,510$0$0$1,976,912
89$5,765,994$0$0$2,120,904
90$6,181,106$0$0$2,277,766
91$6,633,108$0$0$2,448,756
92$7,125,594$0$0$2,635,254
93$7,662,513$0$0$2,838,782
94$8,248,217$0$0$3,061,013
95$8,887,493$0$0$3,303,792
96$9,585,611$0$0$3,569,146
97$10,348,372$0$0$3,859,310
98$11,182,163$0$0$4,176,743
99$12,094,015$0$0$4,524,154
100$13,091,672$0$0$4,904,524