Can I retire at age 56 with 928,000?

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 $928,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.5%
1 years$76,633$75,951$75,285$74,635$74,000$73,534
2 years$37,937$37,231$36,546$35,882$35,238$34,768
3 years$25,040$24,331$23,648$22,990$22,357$21,897
4 years$18,593$17,886$17,209$16,563$15,945$15,499
5 years$14,726$14,023$13,355$12,722$12,121$11,691
6 years$12,148$11,450$10,793$10,174$9,591$9,176
7 years$10,308$9,616$8,969$8,364$7,800$7,402
8 years$8,929$8,243$7,606$7,017$6,471$6,089
9 years$7,856$7,177$6,551$5,977$5,449$5,083
10 years$6,999$6,326$5,712$5,152$4,643$4,293
11 years$6,298$5,632$5,028$4,484$3,993$3,658
12 years$5,714$5,055$4,463$3,933$3,460$3,141
13 years$5,220$4,568$3,987$3,472$3,018$2,713
14 years$4,797$4,152$3,582$3,082$2,645$2,355
15 years$4,431$3,793$3,234$2,749$2,329$2,053
16 years$4,111$3,480$2,933$2,461$2,058$1,797
17 years$3,829$3,205$2,668$2,211$1,825$1,577
18 years$3,579$2,962$2,436$1,993$1,623$1,387
19 years$3,355$2,745$2,230$1,801$1,446$1,224
20 years$3,154$2,551$2,047$1,631$1,292$1,081
21 years$2,972$2,376$1,882$1,480$1,156$957
22 years$2,807$2,218$1,735$1,346$1,036$849
23 years$2,657$2,074$1,602$1,226$930$753
24 years$2,519$1,943$1,482$1,118$836$669
25 years$2,393$1,824$1,372$1,021$752$595
26 years$2,276$1,714$1,273$933$678$530
27 years$2,168$1,613$1,182$854$611$472
28 years$2,068$1,520$1,099$783$551$421
29 years$1,975$1,434$1,022$718$498$376
30 years$1,889$1,354$952$659$450$336
31 years$1,808$1,280$888$605$407$300
32 years$1,733$1,211$828$556$368$268
33 years$1,662$1,147$773$511$333$239
34 years$1,595$1,087$723$471$301$214
35 years$1,533$1,031$676$433$273$192
36 years$1,474$979$632$399$247$171
37 years$1,418$930$592$368$224$153
38 years$1,366$883$554$339$203$137
39 years$1,316$840$519$312$184$123
40 years$1,269$799$486$288$167$110
41 years$1,224$761$456$266$152$99
42 years$1,181$725$428$245$138$88
43 years$1,141$690$402$226$125$79
44 years$1,103$658$377$209$113$71
45 years$1,066$628$354$193$103$64
46 years$1,031$599$332$178$93$57
47 years$998$571$312$165$85$51
48 years$966$545$293$152$77$46
49 years$935$521$276$141$70$41
50 years$906$497$259$130$64$37

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $928,000, adding $4,317 every year, while hoping to spend $31,170 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: 65/13/22 Blend
55$928,000$928,000$928,000$928,000
56$1,027,109$977,925$963,541$1,087,802
57$1,098,709$992,679$962,655$1,143,911
58$1,176,569$1,007,111$960,695$1,201,287
59$1,261,292$1,021,172$957,591$1,263,272
60$1,353,545$1,034,811$953,272$1,330,320
61$1,454,061$1,047,972$947,661$1,402,931
62$1,563,648$1,060,595$940,680$1,481,657
63$1,683,193$1,072,616$932,246$1,567,106
64$1,813,672$1,083,969$922,270$1,659,949
65$1,956,163$1,094,579$910,662$1,760,926
66$2,111,849$1,104,371$897,326$1,870,854
67$2,282,033$1,113,261$882,163$1,990,633
68$2,468,152$1,121,162$865,067$2,121,254
69$2,671,786$1,127,981$845,929$2,263,813
70$2,894,675$1,133,619$824,634$2,419,517
71$3,138,734$1,137,969$801,062$2,589,696
72$3,406,076$1,140,920$775,088$2,775,818
73$3,699,022$1,142,352$746,580$2,979,502
74$4,020,133$1,142,138$715,402$3,202,533
75$4,372,228$1,140,144$681,408$3,446,879
76$4,758,410$1,136,226$644,451$3,714,710
77$5,182,100$1,130,233$604,372$4,008,420
78$5,647,064$1,122,004$561,008$4,330,647
79$6,157,450$1,111,368$514,187$4,684,301
80$6,717,829$1,098,144$463,731$5,072,591
81$7,333,234$1,082,140$409,453$5,499,052
82$8,009,212$1,063,152$351,158$5,967,587
83$8,751,871$1,040,966$288,641$6,482,496
84$9,567,942$1,015,353$221,690$7,048,519
85$10,464,838$986,072$150,083$7,670,884
86$11,450,727$952,866$73,587$8,355,355
87$12,534,610$915,464$0$9,108,286
88$13,726,400$873,582$0$9,938,571
89$15,037,020$826,915$0$10,870,602
90$16,478,505$775,142$0$11,895,662
91$18,064,114$717,926$0$13,023,203
92$19,808,457$654,907$0$14,263,640
93$21,727,629$585,708$0$15,628,451
94$23,839,366$509,926$0$17,130,284
95$26,163,210$427,141$0$18,783,078
96$28,720,690$336,904$0$20,602,196
97$31,535,532$238,743$0$22,604,565
98$34,633,876$132,161$0$24,808,842
99$38,044,525$16,630$0$27,235,586
100$41,799,216$0$0$29,907,454