Can I retire at age 56 with 921,000?

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 $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%20%
1 years$76,055$75,378$74,717$74,072$73,442$70,500
2 years$37,651$36,950$36,270$35,611$34,972$32,046
3 years$24,851$24,147$23,469$22,817$22,188$19,368
4 years$18,453$17,751$17,080$16,438$15,825$13,133
5 years$14,615$13,917$13,255$12,626$12,030$9,474
6 years$12,057$11,364$10,712$10,097$9,519$7,100
7 years$10,230$9,544$8,901$8,301$7,741$5,458
8 years$8,861$8,181$7,549$6,964$6,422$4,273
9 years$7,797$7,123$6,502$5,932$5,408$3,390
10 years$6,946$6,278$5,669$5,113$4,608$2,716
11 years$6,250$5,589$4,991$4,450$3,963$2,193
12 years$5,671$5,017$4,429$3,903$3,434$1,781
13 years$5,181$4,534$3,957$3,446$2,995$1,454
14 years$4,761$4,121$3,555$3,059$2,625$1,191
15 years$4,398$3,764$3,210$2,728$2,311$979
16 years$4,080$3,454$2,910$2,443$2,043$806
17 years$3,800$3,181$2,648$2,195$1,811$666
18 years$3,552$2,939$2,418$1,978$1,611$550
19 years$3,330$2,724$2,213$1,787$1,436$456
20 years$3,130$2,531$2,031$1,619$1,282$378
21 years$2,950$2,358$1,868$1,469$1,147$313
22 years$2,786$2,201$1,722$1,336$1,029$260
23 years$2,637$2,058$1,590$1,216$923$216
24 years$2,500$1,929$1,470$1,109$830$180
25 years$2,374$1,810$1,362$1,013$747$149
26 years$2,259$1,701$1,263$926$673$124
27 years$2,152$1,601$1,173$848$606$103
28 years$2,053$1,509$1,090$777$547$86
29 years$1,961$1,423$1,015$712$494$72
30 years$1,875$1,344$945$654$446$60
31 years$1,795$1,271$881$601$404$50
32 years$1,720$1,202$822$552$365$41
33 years$1,649$1,138$768$508$330$34
34 years$1,583$1,079$717$467$299$29
35 years$1,521$1,023$670$430$271$24
36 years$1,463$971$627$396$246$20
37 years$1,408$923$587$365$223$17
38 years$1,355$877$550$336$202$14
39 years$1,306$834$515$310$183$12
40 years$1,259$793$483$286$166$10
41 years$1,215$755$453$264$151$8
42 years$1,173$719$425$243$137$7
43 years$1,132$685$398$225$124$6
44 years$1,094$653$374$208$113$5
45 years$1,058$623$351$192$102$4
46 years$1,023$594$330$177$93$3
47 years$990$567$310$164$84$3
48 years$958$541$291$151$76$2
49 years$928$517$274$140$69$2
50 years$899$494$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 $921,000, adding $2,996 every year, while hoping to spend $20,383 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: 58/19/23 Blend
55$921,000$921,000$921,000$921,000
56$1,018,032$969,219$954,944$1,070,620
57$1,100,184$995,024$965,247$1,132,608
58$1,190,033$1,021,409$975,212$1,197,715
59$1,288,341$1,048,383$984,807$1,268,260
60$1,395,949$1,075,952$993,996$1,344,774
61$1,513,785$1,104,122$1,002,743$1,427,840
62$1,642,865$1,132,899$1,011,010$1,518,103
63$1,784,315$1,162,288$1,018,755$1,616,271
64$1,939,369$1,192,294$1,025,938$1,723,126
65$2,109,390$1,222,922$1,032,512$1,839,529
66$2,295,878$1,254,175$1,038,431$1,966,427
67$2,500,484$1,286,056$1,043,646$2,104,866
68$2,725,029$1,318,568$1,048,103$2,255,996
69$2,971,516$1,351,712$1,051,749$2,421,087
70$3,242,153$1,385,489$1,054,525$2,601,535
71$3,539,374$1,419,899$1,056,373$2,798,882
72$3,865,856$1,454,940$1,057,227$3,014,824
73$4,224,552$1,490,611$1,057,023$3,251,231
74$4,618,712$1,526,907$1,055,689$3,510,166
75$5,051,920$1,563,824$1,053,154$3,793,898
76$5,528,121$1,601,356$1,049,339$4,104,931
77$6,051,662$1,639,496$1,044,166$4,446,024
78$6,627,335$1,678,235$1,037,548$4,820,215
79$7,260,416$1,717,561$1,029,399$5,230,856
80$7,956,720$1,757,463$1,019,625$5,681,638
81$8,722,652$1,797,926$1,008,130$6,176,630
82$9,565,272$1,838,933$994,811$6,720,316
83$10,492,355$1,880,467$979,563$7,317,637
84$11,512,471$1,922,505$962,274$7,974,039
85$12,635,060$1,965,025$942,827$8,695,526
86$13,870,526$2,008,001$921,101$9,488,711
87$15,230,330$2,051,403$896,968$10,360,885
88$16,727,101$2,095,199$870,295$11,320,082
89$18,374,756$2,139,355$840,941$12,375,157
90$20,188,630$2,183,832$808,760$13,535,868
91$22,185,617$2,228,586$773,601$14,812,969
92$24,384,336$2,273,573$735,302$16,218,314
93$26,805,301$2,318,741$693,698$17,764,966
94$29,471,119$2,364,037$648,614$19,467,320
95$32,406,697$2,409,399$599,867$21,341,242
96$35,639,485$2,454,764$547,267$23,404,218
97$39,199,727$2,500,062$490,615$25,675,519
98$43,120,752$2,545,218$429,704$28,176,382
99$47,439,285$2,590,150$364,315$30,930,214
100$52,195,796$2,634,771$294,223$33,962,808