Can I retire at age 56 with 926,000?

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 $926,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.1%
1 years$76,468$75,787$75,123$74,474$73,841$72,888
2 years$37,856$37,151$36,467$35,805$35,162$34,203
3 years$24,986$24,278$23,597$22,940$22,308$21,374
4 years$18,553$17,847$17,172$16,527$15,910$15,007
5 years$14,694$13,992$13,326$12,695$12,095$11,225
6 years$12,122$11,426$10,770$10,152$9,570$8,736
7 years$10,286$9,595$8,950$8,346$7,783$6,984
8 years$8,909$8,225$7,590$7,002$6,457$5,693
9 years$7,839$7,161$6,537$5,964$5,438$4,708
10 years$6,984$6,312$5,699$5,141$4,633$3,938
11 years$6,284$5,620$5,018$4,474$3,985$3,323
12 years$5,701$5,044$4,453$3,924$3,453$2,824
13 years$5,209$4,558$3,978$3,465$3,011$2,414
14 years$4,787$4,143$3,575$3,076$2,640$2,074
15 years$4,422$3,785$3,227$2,743$2,324$1,789
16 years$4,103$3,473$2,926$2,456$2,054$1,548
17 years$3,821$3,198$2,663$2,207$1,821$1,343
18 years$3,571$2,955$2,431$1,989$1,619$1,169
19 years$3,348$2,739$2,225$1,797$1,443$1,019
20 years$3,147$2,545$2,042$1,627$1,289$890
21 years$2,966$2,371$1,878$1,477$1,154$778
22 years$2,801$2,213$1,731$1,343$1,034$682
23 years$2,651$2,070$1,598$1,223$928$598
24 years$2,514$1,939$1,478$1,115$834$525
25 years$2,387$1,820$1,369$1,019$751$461
26 years$2,271$1,710$1,270$931$676$405
27 years$2,164$1,610$1,179$853$610$357
28 years$2,064$1,517$1,096$781$550$314
29 years$1,971$1,431$1,020$716$497$277
30 years$1,885$1,351$950$657$449$244
31 years$1,804$1,277$886$604$406$215
32 years$1,729$1,209$827$555$367$190
33 years$1,658$1,145$772$510$332$167
34 years$1,592$1,085$721$469$301$148
35 years$1,530$1,029$674$432$272$130
36 years$1,471$977$631$398$247$115
37 years$1,415$928$590$367$224$101
38 years$1,363$882$553$338$203$90
39 years$1,313$838$518$312$184$79
40 years$1,266$798$485$287$167$70
41 years$1,221$759$455$265$151$62
42 years$1,179$723$427$245$137$55
43 years$1,139$689$401$226$125$48
44 years$1,100$657$376$209$113$43
45 years$1,064$626$353$193$103$38
46 years$1,029$597$332$178$93$33
47 years$995$570$312$164$85$29
48 years$964$544$293$152$77$26
49 years$933$520$275$140$70$23
50 years$904$496$259$130$63$20

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $926,000, adding $2,807 every year, while hoping to spend $40,555 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: 84/7/9 Blend
55$926,000$926,000$926,000$926,000
56$1,023,347$974,269$959,916$1,107,853
57$1,084,579$978,858$948,923$1,168,090
58$1,150,696$982,313$936,203$1,228,489
59$1,222,156$984,535$921,654$1,293,577
60$1,299,458$985,419$905,172$1,363,799
61$1,383,153$984,855$886,646$1,439,647
62$1,473,847$982,725$865,960$1,521,661
63$1,572,204$978,903$842,994$1,610,438
64$1,678,956$973,257$817,622$1,706,632
65$1,794,908$965,645$789,711$1,810,967
66$1,920,945$955,918$759,123$1,924,238
67$2,058,041$943,918$725,713$2,047,322
68$2,207,267$929,476$689,331$2,181,184
69$2,369,803$912,415$649,817$2,326,888
70$2,546,945$892,545$607,009$2,485,606
71$2,740,121$869,668$560,731$2,658,628
72$2,950,903$843,571$510,806$2,847,378
73$3,181,021$814,032$457,043$3,053,423
74$3,432,378$780,812$399,247$3,278,489
75$3,707,070$743,662$337,212$3,524,481
76$4,007,406$702,316$270,723$3,793,494
77$4,335,926$656,494$199,556$4,087,840
78$4,695,427$605,899$123,478$4,410,064
79$5,088,991$550,218$42,245$4,762,973
80$5,520,008$489,119$0$5,149,660
81$5,992,216$422,253$0$5,577,800
82$6,509,728$349,249$0$6,051,487
83$7,077,074$269,716$0$6,570,825
84$7,699,246$183,242$0$7,140,404
85$8,381,738$89,391$0$7,765,280
86$9,130,606$0$0$8,451,022
87$9,952,517$0$0$9,204,715
88$10,854,817$0$0$10,039,699
89$11,845,596$0$0$10,956,579
90$12,933,767$0$0$11,963,606
91$14,129,150$0$0$13,069,866
92$15,442,560$0$0$14,285,374
93$16,885,913$0$0$15,621,158
94$18,472,338$0$0$17,089,370
95$20,216,295$0$0$18,703,398
96$22,133,719$0$0$20,477,991
97$24,242,164$0$0$22,429,398
98$26,560,970$0$0$24,575,522
99$29,111,448$0$0$26,936,087
100$31,917,074$0$0$29,532,827