Can I retire at age 56 with 930,000?

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 $930,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.8%
1 years$76,799$76,114$75,447$74,796$74,160$71,245
2 years$38,019$37,311$36,625$35,959$35,314$32,414
3 years$25,094$24,383$23,699$23,040$22,405$19,609
4 years$18,633$17,924$17,247$16,599$15,979$13,310
5 years$14,757$14,053$13,384$12,749$12,147$9,612
6 years$12,175$11,475$10,816$10,196$9,612$7,211
7 years$10,330$9,637$8,988$8,383$7,817$5,550
8 years$8,948$8,261$7,623$7,032$6,485$4,350
9 years$7,873$7,192$6,566$5,990$5,461$3,455
10 years$7,014$6,340$5,724$5,163$4,653$2,772
11 years$6,311$5,644$5,039$4,493$4,002$2,241
12 years$5,726$5,066$4,472$3,941$3,468$1,823
13 years$5,231$4,578$3,996$3,480$3,024$1,490
14 years$4,808$4,161$3,590$3,089$2,651$1,222
15 years$4,441$3,801$3,241$2,755$2,334$1,006
16 years$4,120$3,488$2,939$2,467$2,063$830
17 years$3,838$3,212$2,674$2,216$1,829$686
18 years$3,587$2,968$2,441$1,997$1,626$568
19 years$3,362$2,751$2,235$1,805$1,450$471
20 years$3,161$2,556$2,051$1,634$1,295$391
21 years$2,979$2,381$1,887$1,483$1,159$325
22 years$2,813$2,222$1,739$1,349$1,039$270
23 years$2,662$2,079$1,605$1,228$932$225
24 years$2,524$1,948$1,485$1,120$838$187
25 years$2,398$1,828$1,375$1,023$754$156
26 years$2,281$1,718$1,275$935$679$130
27 years$2,173$1,617$1,184$856$612$108
28 years$2,073$1,523$1,101$785$553$90
29 years$1,980$1,437$1,025$719$499$75
30 years$1,893$1,357$954$660$451$63
31 years$1,812$1,283$890$606$408$52
32 years$1,736$1,214$830$557$369$44
33 years$1,665$1,150$775$512$334$36
34 years$1,599$1,090$724$472$302$30
35 years$1,536$1,033$677$434$274$25
36 years$1,477$981$633$400$248$21
37 years$1,421$932$593$368$225$18
38 years$1,369$885$555$339$204$15
39 years$1,319$842$520$313$185$12
40 years$1,271$801$488$289$168$10
41 years$1,227$762$457$266$152$9
42 years$1,184$726$429$246$138$7
43 years$1,144$692$402$227$125$6
44 years$1,105$659$378$210$114$5
45 years$1,068$629$355$194$103$4
46 years$1,033$600$333$179$94$3
47 years$1,000$573$313$165$85$3
48 years$968$547$294$153$77$2
49 years$937$522$276$141$70$2
50 years$908$499$260$130$64$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $930,000, adding $5,303 every year, while hoping to spend $29,304 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: 36/50/14 Blend
55$930,000$930,000$930,000$930,000
56$1,030,330$981,040$966,625$1,062,808
57$1,104,244$997,932$967,828$1,103,581
58$1,184,716$1,014,669$968,089$1,144,387
59$1,272,383$1,031,213$967,345$1,187,803
60$1,367,946$1,047,523$965,532$1,234,076
61$1,472,179$1,063,555$962,580$1,283,480
62$1,585,932$1,079,260$958,417$1,336,316
63$1,710,141$1,094,587$952,968$1,392,919
64$1,845,837$1,109,483$946,153$1,453,656
65$1,994,153$1,123,888$937,890$1,518,936
66$2,156,338$1,137,740$928,091$1,589,209
67$2,333,768$1,150,973$916,665$1,664,972
68$2,527,956$1,163,515$903,518$1,746,775
69$2,740,571$1,175,290$888,548$1,835,225
70$2,973,447$1,186,217$871,653$1,930,992
71$3,228,606$1,196,210$852,721$2,034,817
72$3,508,276$1,205,176$831,639$2,147,520
73$3,814,908$1,213,017$808,287$2,270,004
74$4,151,203$1,219,630$782,539$2,403,268
75$4,520,137$1,224,902$754,265$2,548,416
76$4,924,985$1,228,717$723,327$2,706,664
77$5,369,357$1,230,947$689,582$2,879,360
78$5,857,229$1,231,461$652,880$3,067,988
79$6,392,980$1,230,117$613,066$3,274,189
80$6,981,434$1,226,763$569,974$3,499,775
81$7,627,907$1,221,241$523,434$3,746,746
82$8,338,252$1,213,380$473,268$4,017,309
83$9,118,920$1,203,002$419,289$4,313,902
84$9,977,017$1,189,916$361,302$4,639,217
85$10,920,370$1,173,919$299,103$4,996,224
86$11,957,605$1,154,798$232,479$5,388,201
87$13,098,223$1,132,326$161,210$5,818,768
88$14,352,694$1,106,262$85,063$6,291,918
89$15,732,552$1,076,353$3,796$6,812,058
90$17,250,506$1,042,328$0$7,384,054
91$18,920,559$1,003,903$0$8,025,660
92$20,758,137$960,775$0$8,731,822
93$22,780,241$912,627$0$9,508,548
94$25,005,599$859,119$0$10,363,091
95$27,454,850$799,896$0$11,303,452
96$30,150,733$734,579$0$12,338,452
97$33,118,304$662,770$0$13,477,823
98$36,385,171$584,046$0$14,732,297
99$39,981,756$497,961$0$16,113,707
100$43,941,580$404,046$0$17,635,105