Can I retire at age 56 with 922,000?

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 $922,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.8%
1 years$76,138$75,460$74,798$74,152$73,522$70,913
2 years$37,692$36,990$36,310$35,650$35,010$32,410
3 years$24,878$24,173$23,495$22,841$22,212$19,702
4 years$18,473$17,770$17,098$16,456$15,842$13,441
5 years$14,631$13,932$13,269$12,640$12,043$9,757
6 years$12,070$11,376$10,723$10,108$9,529$7,360
7 years$10,241$9,554$8,911$8,310$7,750$5,698
8 years$8,871$8,189$7,557$6,971$6,429$4,492
9 years$7,805$7,130$6,509$5,938$5,414$3,590
10 years$6,953$6,285$5,675$5,119$4,613$2,898
11 years$6,257$5,595$4,996$4,455$3,967$2,359
12 years$5,677$5,022$4,434$3,907$3,438$1,931
13 years$5,186$4,538$3,961$3,450$2,998$1,589
14 years$4,766$4,125$3,559$3,062$2,628$1,313
15 years$4,403$3,769$3,214$2,731$2,314$1,088
16 years$4,085$3,458$2,914$2,445$2,045$904
17 years$3,805$3,184$2,651$2,197$1,813$753
18 years$3,556$2,942$2,420$1,980$1,612$628
19 years$3,333$2,727$2,216$1,789$1,437$525
20 years$3,134$2,534$2,033$1,620$1,284$439
21 years$2,953$2,360$1,870$1,471$1,149$368
22 years$2,789$2,203$1,724$1,337$1,030$308
23 years$2,640$2,061$1,592$1,218$924$258
24 years$2,503$1,931$1,472$1,111$831$217
25 years$2,377$1,812$1,363$1,014$748$182
26 years$2,261$1,703$1,264$927$673$153
27 years$2,154$1,603$1,174$849$607$129
28 years$2,055$1,510$1,091$778$548$108
29 years$1,963$1,425$1,016$713$495$91
30 years$1,877$1,345$946$655$447$76
31 years$1,797$1,272$882$601$404$64
32 years$1,722$1,203$823$552$366$54
33 years$1,651$1,140$768$508$331$45
34 years$1,585$1,080$718$467$300$38
35 years$1,523$1,025$671$430$271$32
36 years$1,464$972$628$396$246$27
37 years$1,409$924$588$365$223$23
38 years$1,357$878$550$337$202$19
39 years$1,307$835$516$310$183$16
40 years$1,261$794$483$286$166$14
41 years$1,216$756$453$264$151$11
42 years$1,174$720$425$244$137$10
43 years$1,134$686$399$225$124$8
44 years$1,095$654$374$208$113$7
45 years$1,059$623$352$192$102$6
46 years$1,024$595$330$177$93$5
47 years$991$568$310$164$84$4
48 years$959$542$292$151$77$3
49 years$929$517$274$140$70$3
50 years$900$494$258$129$63$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $922,000, adding $6,220 every year, while hoping to spend $40,172 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: 51/37/12 Blend
55$922,000$922,000$922,000$922,000
56$1,022,460$973,594$959,303$1,071,021
57$1,084,008$978,557$948,697$1,109,869
58$1,150,488$982,418$936,389$1,147,304
59$1,222,360$985,078$922,280$1,187,083
60$1,300,130$986,436$906,266$1,229,439
61$1,384,355$986,384$888,238$1,274,629
62$1,475,647$984,804$868,082$1,322,937
63$1,574,678$981,575$845,678$1,374,679
64$1,682,189$976,566$820,902$1,430,206
65$1,798,993$969,638$793,623$1,489,904
66$1,925,986$960,646$763,704$1,554,204
67$2,064,152$949,433$731,004$1,623,580
68$2,214,575$935,834$695,372$1,698,560
69$2,378,447$919,676$656,652$1,779,726
70$2,557,081$900,772$614,682$1,867,724
71$2,751,920$878,927$569,291$1,963,269
72$2,964,554$853,933$520,301$2,067,152
73$3,196,734$825,571$467,526$2,180,247
74$3,450,384$793,607$410,771$2,303,522
75$3,727,625$757,796$349,834$2,438,050
76$4,030,792$717,877$284,503$2,585,014
77$4,362,455$673,575$214,556$2,745,726
78$4,725,444$624,599$139,762$2,921,633
79$5,122,875$570,640$59,880$3,114,339
80$5,558,181$511,374$0$3,325,615
81$6,035,140$446,456$0$3,560,667
82$6,557,914$375,523$0$3,826,804
83$7,131,089$298,190$0$4,118,779
84$7,759,711$214,053$0$4,439,270
85$8,449,342$122,682$0$4,791,238
86$9,206,107$23,626$0$5,177,949
87$10,036,753$0$0$5,603,008
88$10,948,710$0$0$6,104,432
89$11,950,166$0$0$6,665,728
90$13,050,138$0$0$7,282,343
91$14,258,560$0$0$7,959,859
92$15,586,377$0$0$8,704,426
93$17,045,644$0$0$9,522,817
94$18,649,644$0$0$10,422,497
95$20,413,011$0$0$11,411,686
96$22,351,866$0$0$12,499,445
97$24,483,971$0$0$13,695,754
98$26,828,895$0$0$15,011,610
99$29,408,200$0$0$16,459,128
100$32,245,641$0$0$18,051,657