Can I retire at age 56 with 921,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $921,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.9%
1 years$76,055$75,378$74,717$74,072$73,442$71,666
2 years$37,651$36,950$36,270$35,611$34,972$33,194
3 years$24,851$24,147$23,469$22,817$22,188$20,463
4 years$18,453$17,751$17,080$16,438$15,825$14,166
5 years$14,615$13,917$13,255$12,626$12,030$10,442
6 years$12,057$11,364$10,712$10,097$9,519$8,003
7 years$10,230$9,544$8,901$8,301$7,741$6,298
8 years$8,861$8,181$7,549$6,964$6,422$5,051
9 years$7,797$7,123$6,502$5,932$5,408$4,108
10 years$6,946$6,278$5,669$5,113$4,608$3,378
11 years$6,250$5,589$4,991$4,450$3,963$2,800
12 years$5,671$5,017$4,429$3,903$3,434$2,337
13 years$5,181$4,534$3,957$3,446$2,995$1,962
14 years$4,761$4,121$3,555$3,059$2,625$1,653
15 years$4,398$3,764$3,210$2,728$2,311$1,399
16 years$4,080$3,454$2,910$2,443$2,043$1,187
17 years$3,800$3,181$2,648$2,195$1,811$1,010
18 years$3,552$2,939$2,418$1,978$1,611$861
19 years$3,330$2,724$2,213$1,787$1,436$735
20 years$3,130$2,531$2,031$1,619$1,282$629
21 years$2,950$2,358$1,868$1,469$1,147$538
22 years$2,786$2,201$1,722$1,336$1,029$461
23 years$2,637$2,058$1,590$1,216$923$396
24 years$2,500$1,929$1,470$1,109$830$340
25 years$2,374$1,810$1,362$1,013$747$292
26 years$2,259$1,701$1,263$926$673$251
27 years$2,152$1,601$1,173$848$606$216
28 years$2,053$1,509$1,090$777$547$186
29 years$1,961$1,423$1,015$712$494$160
30 years$1,875$1,344$945$654$446$138
31 years$1,795$1,271$881$601$404$119
32 years$1,720$1,202$822$552$365$102
33 years$1,649$1,138$768$508$330$88
34 years$1,583$1,079$717$467$299$76
35 years$1,521$1,023$670$430$271$66
36 years$1,463$971$627$396$246$56
37 years$1,408$923$587$365$223$49
38 years$1,355$877$550$336$202$42
39 years$1,306$834$515$310$183$36
40 years$1,259$793$483$286$166$31
41 years$1,215$755$453$264$151$27
42 years$1,173$719$425$243$137$23
43 years$1,132$685$398$225$124$20
44 years$1,094$653$374$208$113$17
45 years$1,058$623$351$192$102$15
46 years$1,023$594$330$177$93$13
47 years$990$567$310$164$84$11
48 years$958$541$291$151$76$10
49 years$928$517$274$140$69$8
50 years$899$494$257$129$63$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $921,000, adding $5,910 every year, while hoping to spend $49,807 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: 47/42/11 Blend
55$921,000$921,000$921,000$921,000
56$1,021,038$972,225$957,950$1,065,644
57$1,072,190$966,870$937,047$1,091,668
58$1,126,890$959,583$913,774$1,114,264
59$1,185,447$950,217$888,000$1,137,661
60$1,248,201$938,616$859,587$1,161,950
61$1,315,524$924,615$828,389$1,187,236
62$1,387,823$908,037$794,256$1,213,636
63$1,465,549$888,698$757,031$1,241,281
64$1,549,191$866,401$716,548$1,270,322
65$1,639,291$840,937$672,635$1,300,927
66$1,736,441$812,086$625,111$1,333,285
67$1,841,294$779,614$573,788$1,367,611
68$1,954,566$743,275$518,470$1,404,145
69$2,077,044$702,807$458,951$1,443,154
70$2,209,592$657,934$395,015$1,484,943
71$2,353,162$608,365$326,440$1,529,848
72$2,508,799$553,789$252,990$1,578,250
73$2,677,653$493,881$174,422$1,630,572
74$2,860,989$428,296$90,480$1,687,288
75$3,060,196$356,669$897$1,748,928
76$3,276,805$278,615$0$1,816,083
77$3,512,499$193,727$0$1,900,528
78$3,769,129$101,575$0$1,992,719
79$4,048,734$1,706$0$2,093,404
80$4,353,557$0$0$2,203,536
81$4,686,064$0$0$2,373,324
82$5,048,973$0$0$2,559,595
83$5,445,274$0$0$2,763,108
84$5,878,260$0$0$2,985,566
85$6,351,552$0$0$3,228,844
86$6,869,143$0$0$3,495,007
87$7,435,425$0$0$3,786,329
88$8,055,234$0$0$4,105,313
89$8,733,898$0$0$4,454,715
90$9,477,283$0$0$4,837,573
91$10,291,847$0$0$5,257,229
92$11,184,705$0$0$5,717,366
93$12,163,691$0$0$6,222,039
94$13,237,436$0$0$6,775,717
95$14,415,444$0$0$7,383,319
96$15,708,184$0$0$8,050,266
97$17,127,188$0$0$8,782,528
98$18,685,159$0$0$9,586,681
99$20,396,090$0$0$10,469,970
100$22,275,394$0$0$11,440,376