Can I retire at age 56 with 925,000?

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 $925,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.8%
1 years$76,386$75,705$75,041$74,393$73,761$73,204
2 years$37,815$37,110$36,428$35,766$35,124$34,563
3 years$24,959$24,252$23,571$22,916$22,284$21,736
4 years$18,533$17,828$17,154$16,509$15,893$15,362
5 years$14,678$13,977$13,312$12,681$12,082$11,569
6 years$12,109$11,413$10,758$10,141$9,560$9,066
7 years$10,275$9,585$8,940$8,337$7,775$7,301
8 years$8,900$8,216$7,582$6,994$6,450$5,995
9 years$7,831$7,154$6,530$5,957$5,432$4,996
10 years$6,976$6,306$5,693$5,135$4,628$4,212
11 years$6,277$5,613$5,012$4,469$3,980$3,583
12 years$5,695$5,038$4,448$3,920$3,449$3,070
13 years$5,203$4,553$3,974$3,461$3,008$2,647
14 years$4,782$4,139$3,571$3,072$2,637$2,293
15 years$4,417$3,781$3,224$2,740$2,322$1,996
16 years$4,098$3,469$2,923$2,453$2,052$1,742
17 years$3,817$3,195$2,660$2,204$1,819$1,526
18 years$3,567$2,952$2,428$1,986$1,618$1,340
19 years$3,344$2,736$2,223$1,795$1,442$1,179
20 years$3,144$2,542$2,040$1,626$1,288$1,040
21 years$2,963$2,368$1,876$1,475$1,152$918
22 years$2,798$2,211$1,729$1,341$1,033$812
23 years$2,648$2,067$1,597$1,222$927$719
24 years$2,511$1,937$1,477$1,114$833$638
25 years$2,385$1,818$1,368$1,018$750$566
26 years$2,269$1,708$1,269$930$676$503
27 years$2,161$1,608$1,178$852$609$447
28 years$2,062$1,515$1,095$780$550$398
29 years$1,969$1,429$1,019$716$496$354
30 years$1,883$1,350$949$657$448$315
31 years$1,802$1,276$885$603$405$281
32 years$1,727$1,207$826$554$367$250
33 years$1,657$1,143$771$510$332$223
34 years$1,590$1,084$720$469$300$199
35 years$1,528$1,028$673$432$272$178
36 years$1,469$976$630$398$247$159
37 years$1,414$927$590$366$223$142
38 years$1,361$881$552$338$203$126
39 years$1,312$837$517$311$184$113
40 years$1,265$797$485$287$167$101
41 years$1,220$758$455$265$151$90
42 years$1,178$722$426$245$137$81
43 years$1,137$688$400$226$125$72
44 years$1,099$656$376$208$113$64
45 years$1,062$626$353$192$103$57
46 years$1,028$597$331$178$93$51
47 years$994$569$311$164$85$46
48 years$963$544$292$152$77$41
49 years$932$519$275$140$70$37
50 years$903$496$258$130$63$33

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $925,000, adding $6,643 every year, while hoping to spend $56,568 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: 55/17/28 Blend
55$925,000$925,000$925,000$925,000
56$1,026,202$977,177$962,840$1,074,362
57$1,070,687$964,871$934,907$1,095,995
58$1,117,813$950,066$904,143$1,113,155
59$1,167,791$932,580$870,392$1,130,706
60$1,220,849$912,219$833,493$1,148,704
61$1,277,238$888,781$793,278$1,167,218
62$1,337,232$862,047$749,569$1,186,323
63$1,401,132$831,789$702,181$1,206,107
64$1,469,266$797,766$650,923$1,226,671
65$1,541,994$759,719$595,592$1,248,129
66$1,619,711$717,379$535,977$1,270,611
67$1,702,848$670,457$471,859$1,294,263
68$1,791,880$618,651$403,008$1,319,253
69$1,887,326$561,639$329,184$1,345,770
70$1,989,757$499,084$250,135$1,374,026
71$2,099,799$430,625$165,601$1,404,261
72$2,218,138$355,886$75,309$1,436,746
73$2,345,529$274,465$0$1,471,783
74$2,482,800$185,940$0$1,516,002
75$2,630,860$89,866$0$1,587,915
76$2,790,709$0$0$1,665,522
77$2,963,445$0$0$1,752,060
78$3,150,275$0$0$1,863,909
79$3,352,525$0$0$1,985,060
80$3,571,653$0$0$2,116,396
81$3,809,263$0$0$2,258,888
82$4,067,119$0$0$2,413,602
83$4,347,159$0$0$2,581,713
84$4,651,517$0$0$2,764,511
85$4,982,539$0$0$2,963,419
86$5,342,807$0$0$3,179,998
87$5,735,162$0$0$3,415,968
88$6,162,730$0$0$3,673,224
89$6,628,952$0$0$3,953,847
90$7,137,613$0$0$4,260,132
91$7,692,881$0$0$4,594,602
92$8,299,345$0$0$4,960,036
93$8,962,055$0$0$5,359,493
94$9,686,570$0$0$5,796,341
95$10,479,013$0$0$6,274,288
96$11,346,124$0$0$6,797,417
97$12,295,326$0$0$7,370,225
98$13,334,791$0$0$7,997,663
99$14,473,519$0$0$8,685,183
100$15,721,424$0$0$9,438,790