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%15.1%
1 years$75,973$75,296$74,636$73,991$73,362$71,822
2 years$37,610$36,910$36,231$35,573$34,934$33,390
3 years$24,824$24,121$23,444$22,792$22,164$20,663
4 years$18,433$17,731$17,061$16,420$15,807$14,363
5 years$14,599$13,902$13,240$12,612$12,017$10,631
6 years$12,044$11,352$10,700$10,086$9,508$8,184
7 years$10,219$9,533$8,892$8,292$7,733$6,470
8 years$8,852$8,172$7,541$6,956$6,415$5,213
9 years$7,788$7,115$6,495$5,925$5,402$4,261
10 years$6,938$6,271$5,662$5,108$4,603$3,520
11 years$6,243$5,583$4,985$4,445$3,959$2,933
12 years$5,664$5,011$4,424$3,899$3,431$2,461
13 years$5,175$4,529$3,953$3,442$2,992$2,077
14 years$4,756$4,116$3,552$3,056$2,622$1,760
15 years$4,393$3,760$3,207$2,725$2,309$1,497
16 years$4,076$3,450$2,907$2,440$2,041$1,278
17 years$3,796$3,177$2,645$2,192$1,809$1,093
18 years$3,548$2,936$2,415$1,976$1,609$937
19 years$3,326$2,721$2,211$1,785$1,434$805
20 years$3,127$2,529$2,029$1,617$1,281$693
21 years$2,947$2,355$1,866$1,467$1,146$597
22 years$2,783$2,199$1,720$1,334$1,027$515
23 years$2,634$2,056$1,588$1,215$922$445
24 years$2,497$1,927$1,469$1,108$829$384
25 years$2,372$1,808$1,360$1,012$746$332
26 years$2,256$1,699$1,262$925$672$288
27 years$2,150$1,599$1,172$847$606$249
28 years$2,050$1,507$1,089$776$547$216
29 years$1,958$1,422$1,014$712$494$187
30 years$1,873$1,343$944$653$446$162
31 years$1,793$1,269$880$600$403$140
32 years$1,718$1,201$821$551$365$122
33 years$1,648$1,137$767$507$330$106
34 years$1,582$1,078$716$466$299$92
35 years$1,520$1,022$670$429$271$80
36 years$1,461$970$627$395$245$69
37 years$1,406$922$586$364$222$60
38 years$1,354$876$549$336$202$52
39 years$1,305$833$515$310$183$45
40 years$1,258$792$482$286$166$39
41 years$1,213$754$452$264$150$34
42 years$1,171$718$424$243$136$30
43 years$1,131$684$398$224$124$26
44 years$1,093$652$374$207$112$22
45 years$1,057$622$351$191$102$19
46 years$1,022$593$330$177$93$17
47 years$989$566$310$163$84$15
48 years$957$541$291$151$76$13
49 years$927$516$273$140$69$11
50 years$898$493$257$129$63$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $920,000, adding $4,351 every year, while hoping to spend $58,766 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: 63/21/16 Blend
55$920,000$920,000$920,000$920,000
56$1,018,328$969,568$955,308$1,078,182
57$1,059,671$954,550$924,784$1,103,884
58$1,103,261$936,827$891,268$1,124,858
59$1,149,266$916,204$854,598$1,146,353
60$1,197,868$892,474$814,604$1,168,421
61$1,249,265$865,421$771,108$1,191,125
62$1,303,676$834,811$723,925$1,214,533
63$1,361,336$800,403$672,862$1,238,724
64$1,422,505$761,935$617,716$1,263,788
65$1,487,466$719,136$558,275$1,289,826
66$1,556,529$671,715$494,319$1,316,954
67$1,630,033$619,366$425,616$1,345,300
68$1,708,348$561,767$351,926$1,375,012
69$1,791,881$498,576$272,997$1,406,255
70$1,881,077$429,430$188,567$1,439,215
71$1,976,423$353,948$98,360$1,474,101
72$2,078,454$271,727$2,091$1,511,148
73$2,187,756$182,342$0$1,550,621
74$2,304,972$85,341$0$1,609,997
75$2,430,806$0$0$1,673,924
76$2,566,034$0$0$1,747,033
77$2,711,504$0$0$1,846,942
78$2,868,150$0$0$1,954,575
79$3,036,997$0$0$2,070,644
80$3,219,168$0$0$2,195,927
81$3,415,902$0$0$2,331,282
82$3,628,557$0$0$2,477,652
83$3,858,626$0$0$2,636,072
84$4,107,750$0$0$2,807,681
85$4,377,735$0$0$2,993,729
86$4,670,564$0$0$3,195,594
87$4,988,421$0$0$3,414,789
88$5,333,705$0$0$3,652,979
89$5,709,056$0$0$3,911,995
90$6,117,380$0$0$4,193,853
91$6,561,872$0$0$4,500,771
92$7,046,048$0$0$4,835,186
93$7,573,778$0$0$5,199,785
94$8,149,322$0$0$5,597,523
95$8,777,366$0$0$6,031,652
96$9,463,070$0$0$6,505,752
97$10,212,114$0$0$7,023,765
98$11,030,751$0$0$7,590,029
99$11,925,864$0$0$8,209,323
100$12,905,033$0$0$8,886,905