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%11.7%
1 years$76,468$75,787$75,123$74,474$73,841$73,314
2 years$37,856$37,151$36,467$35,805$35,162$34,631
3 years$24,986$24,278$23,597$22,940$22,308$21,789
4 years$18,553$17,847$17,172$16,527$15,910$15,407
5 years$14,694$13,992$13,326$12,695$12,095$11,609
6 years$12,122$11,426$10,770$10,152$9,570$9,103
7 years$10,286$9,595$8,950$8,346$7,783$7,334
8 years$8,909$8,225$7,590$7,002$6,457$6,026
9 years$7,839$7,161$6,537$5,964$5,438$5,025
10 years$6,984$6,312$5,699$5,141$4,633$4,239
11 years$6,284$5,620$5,018$4,474$3,985$3,608
12 years$5,701$5,044$4,453$3,924$3,453$3,094
13 years$5,209$4,558$3,978$3,465$3,011$2,669
14 years$4,787$4,143$3,575$3,076$2,640$2,314
15 years$4,422$3,785$3,227$2,743$2,324$2,015
16 years$4,103$3,473$2,926$2,456$2,054$1,760
17 years$3,821$3,198$2,663$2,207$1,821$1,543
18 years$3,571$2,955$2,431$1,989$1,619$1,356
19 years$3,348$2,739$2,225$1,797$1,443$1,194
20 years$3,147$2,545$2,042$1,627$1,289$1,053
21 years$2,966$2,371$1,878$1,477$1,154$931
22 years$2,801$2,213$1,731$1,343$1,034$824
23 years$2,651$2,070$1,598$1,223$928$731
24 years$2,514$1,939$1,478$1,115$834$648
25 years$2,387$1,820$1,369$1,019$751$576
26 years$2,271$1,710$1,270$931$676$512
27 years$2,164$1,610$1,179$853$610$455
28 years$2,064$1,517$1,096$781$550$405
29 years$1,971$1,431$1,020$716$497$361
30 years$1,885$1,351$950$657$449$322
31 years$1,804$1,277$886$604$406$287
32 years$1,729$1,209$827$555$367$256
33 years$1,658$1,145$772$510$332$229
34 years$1,592$1,085$721$469$301$204
35 years$1,530$1,029$674$432$272$182
36 years$1,471$977$631$398$247$163
37 years$1,415$928$590$367$224$145
38 years$1,363$882$553$338$203$130
39 years$1,313$838$518$312$184$116
40 years$1,266$798$485$287$167$104
41 years$1,221$759$455$265$151$93
42 years$1,179$723$427$245$137$83
43 years$1,139$689$401$226$125$74
44 years$1,100$657$376$209$113$66
45 years$1,064$626$353$193$103$59
46 years$1,029$597$332$178$93$53
47 years$995$570$312$164$85$48
48 years$964$544$293$152$77$43
49 years$933$520$275$140$70$38
50 years$904$496$259$130$63$34

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $926,000, adding $5,657 every year, while hoping to spend $56,265 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: 58/14/28 Blend
55$926,000$926,000$926,000$926,000
56$1,026,287$977,209$962,856$1,077,666
57$1,071,103$965,227$935,246$1,101,515
58$1,118,604$950,772$904,826$1,121,092
59$1,169,005$933,663$871,441$1,141,280
60$1,222,541$913,710$834,931$1,162,153
61$1,279,468$890,709$795,129$1,183,799
62$1,340,066$864,446$751,859$1,206,313
63$1,404,643$834,695$704,936$1,229,807
64$1,473,536$801,214$654,171$1,254,404
65$1,547,113$763,749$599,362$1,280,245
66$1,625,778$722,033$540,300$1,307,489
67$1,709,973$675,778$476,766$1,336,313
68$1,800,185$624,687$408,533$1,366,918
69$1,896,947$568,439$335,361$1,399,529
70$2,000,842$506,699$257,002$1,434,398
71$2,112,512$439,111$173,196$1,471,808
72$2,232,661$365,301$83,671$1,512,076
73$2,362,063$284,871$0$1,555,556
74$2,501,566$197,402$0$1,606,188
75$2,652,104$102,453$0$1,687,778
76$2,814,701$0$0$1,775,887
77$2,990,484$0$0$1,871,230
78$3,180,690$0$0$1,991,537
79$3,386,680$0$0$2,121,892
80$3,609,950$0$0$2,263,251
81$3,852,145$0$0$2,416,664
82$4,115,074$0$0$2,583,286
83$4,400,728$0$0$2,764,386
84$4,711,295$0$0$2,961,364
85$5,049,182$0$0$3,175,756
86$5,417,041$0$0$3,409,255
87$5,817,785$0$0$3,663,722
88$6,254,624$0$0$3,941,207
89$6,731,089$0$0$4,243,964
90$7,251,065$0$0$4,574,476
91$7,818,831$0$0$4,935,476
92$8,439,096$0$0$5,329,972
93$9,117,045$0$0$5,761,275
94$9,858,385$0$0$6,233,031
95$10,669,400$0$0$6,749,256
96$11,557,012$0$0$7,314,371
97$12,528,839$0$0$7,933,243
98$13,593,272$0$0$8,611,233
99$14,759,551$0$0$9,354,245
100$16,037,854$0$0$10,168,782