Can I retire at age 56 with 929,000?

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 $929,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.9%
1 years$76,716$76,033$75,366$74,715$74,080$71,997
2 years$37,978$37,271$36,585$35,921$35,276$33,194
3 years$25,067$24,357$23,673$23,015$22,381$20,364
4 years$18,613$17,905$17,228$16,581$15,962$14,026
5 years$14,742$14,038$13,370$12,736$12,134$10,284
6 years$12,161$11,463$10,805$10,185$9,601$7,840
7 years$10,319$9,626$8,979$8,374$7,808$6,135
8 years$8,938$8,252$7,615$7,024$6,478$4,891
9 years$7,865$7,185$6,559$5,983$5,455$3,954
10 years$7,006$6,333$5,718$5,158$4,648$3,231
11 years$6,304$5,638$5,034$4,489$3,998$2,662
12 years$5,720$5,060$4,467$3,937$3,464$2,207
13 years$5,226$4,573$3,991$3,476$3,021$1,840
14 years$4,803$4,157$3,586$3,086$2,648$1,540
15 years$4,436$3,797$3,238$2,752$2,332$1,294
16 years$4,116$3,484$2,936$2,464$2,061$1,090
17 years$3,833$3,208$2,671$2,214$1,827$921
18 years$3,583$2,965$2,439$1,995$1,625$779
19 years$3,359$2,748$2,232$1,803$1,448$660
20 years$3,157$2,553$2,049$1,633$1,293$560
21 years$2,975$2,378$1,884$1,482$1,157$476
22 years$2,810$2,220$1,737$1,347$1,037$405
23 years$2,660$2,076$1,604$1,227$931$345
24 years$2,522$1,945$1,483$1,119$837$294
25 years$2,395$1,826$1,374$1,022$753$250
26 years$2,278$1,716$1,274$934$678$214
27 years$2,171$1,615$1,183$855$612$182
28 years$2,071$1,522$1,100$784$552$156
29 years$1,978$1,435$1,023$719$498$133
30 years$1,891$1,356$953$660$450$113
31 years$1,810$1,282$889$606$407$97
32 years$1,735$1,213$829$557$368$83
33 years$1,664$1,148$774$512$333$71
34 years$1,597$1,088$723$471$302$60
35 years$1,534$1,032$676$434$273$52
36 years$1,475$980$633$399$248$44
37 years$1,420$931$592$368$224$38
38 years$1,367$884$555$339$203$32
39 years$1,317$841$520$313$185$28
40 years$1,270$800$487$288$167$24
41 years$1,225$762$457$266$152$20
42 years$1,183$725$428$246$138$17
43 years$1,142$691$402$227$125$15
44 years$1,104$659$377$209$114$13
45 years$1,067$628$354$193$103$11
46 years$1,032$599$333$179$94$9
47 years$999$572$313$165$85$8
48 years$967$546$294$152$77$7
49 years$936$521$276$141$70$6
50 years$907$498$260$130$64$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $929,000, adding $3,389 every year, while hoping to spend $50,569 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: 55/21/24 Blend
55$929,000$929,000$929,000$929,000
56$1,027,254$978,017$963,617$1,076,821
57$1,078,229$972,135$942,093$1,105,347
58$1,132,708$964,269$918,154$1,130,823
59$1,190,996$954,270$891,664$1,157,508
60$1,253,426$941,978$862,483$1,185,536
61$1,320,364$927,223$830,465$1,215,053
62$1,392,211$909,827$795,455$1,246,226
63$1,469,407$889,599$757,293$1,279,240
64$1,552,436$866,339$715,812$1,314,303
65$1,641,828$839,833$670,835$1,351,645
66$1,738,165$809,855$622,179$1,391,524
67$1,842,088$776,169$569,652$1,434,229
68$1,954,301$738,521$513,055$1,480,082
69$2,075,575$696,644$452,178$1,529,438
70$2,206,760$650,256$386,802$1,582,698
71$2,348,790$599,058$316,700$1,640,304
72$2,502,690$542,736$241,633$1,702,751
73$2,669,589$480,954$161,353$1,770,587
74$2,850,728$413,362$75,599$1,844,422
75$3,047,472$339,586$0$1,924,935
76$3,261,321$259,234$0$2,016,955
77$3,493,928$171,888$0$2,138,166
78$3,747,110$77,111$0$2,270,194
79$4,022,865$0$0$2,414,147
80$4,323,394$0$0$2,577,157
81$4,651,118$0$0$2,774,429
82$5,008,702$0$0$2,989,755
83$5,399,080$0$0$3,224,913
84$5,825,480$0$0$3,481,859
85$6,291,457$0$0$3,762,746
86$6,800,925$0$0$4,069,943
87$7,358,193$0$0$4,406,062
88$7,968,004$0$0$4,773,976
89$8,635,584$0$0$5,176,850
90$9,366,683$0$0$5,618,168
91$10,167,639$0$0$6,101,770
92$11,045,427$0$0$6,631,881
93$12,007,732$0$0$7,213,157
94$13,063,014$0$0$7,850,725
95$14,220,597$0$0$8,550,232
96$15,490,745$0$0$9,317,899
97$16,884,767$0$0$10,160,578
98$18,415,119$0$0$11,085,817
99$20,095,522$0$0$12,101,928
100$21,941,092$0$0$13,218,072