Can I retire at age 56 with 933,000?

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 $933,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.1%
1 years$77,046$76,360$75,690$75,037$74,399$74,054
2 years$38,142$37,431$36,743$36,075$35,428$35,080
3 years$25,175$24,462$23,775$23,114$22,477$22,137
4 years$18,693$17,982$17,302$16,652$16,031$15,701
5 years$14,805$14,098$13,427$12,791$12,186$11,867
6 years$12,214$11,512$10,851$10,229$9,643$9,335
7 years$10,364$9,668$9,017$8,410$7,842$7,546
8 years$8,977$8,287$7,647$7,055$6,506$6,222
9 years$7,898$7,215$6,587$6,009$5,479$5,206
10 years$7,036$6,360$5,742$5,180$4,668$4,407
11 years$6,332$5,662$5,056$4,508$4,015$3,765
12 years$5,745$5,082$4,487$3,954$3,479$3,241
13 years$5,248$4,593$4,009$3,491$3,034$2,806
14 years$4,823$4,175$3,602$3,099$2,659$2,443
15 years$4,455$3,814$3,252$2,764$2,342$2,135
16 years$4,134$3,499$2,948$2,474$2,070$1,873
17 years$3,850$3,222$2,683$2,223$1,835$1,649
18 years$3,598$2,978$2,449$2,004$1,632$1,455
19 years$3,373$2,760$2,242$1,810$1,454$1,287
20 years$3,171$2,564$2,058$1,640$1,299$1,140
21 years$2,988$2,389$1,893$1,488$1,162$1,012
22 years$2,822$2,230$1,744$1,353$1,042$900
23 years$2,671$2,085$1,611$1,232$935$801
24 years$2,533$1,954$1,490$1,124$841$714
25 years$2,405$1,834$1,380$1,026$756$637
26 years$2,288$1,723$1,279$938$681$569
27 years$2,180$1,622$1,188$859$614$509
28 years$2,079$1,528$1,105$787$554$455
29 years$1,986$1,442$1,028$722$501$408
30 years$1,899$1,362$957$662$452$365
31 years$1,818$1,287$893$608$409$327
32 years$1,742$1,218$833$559$370$293
33 years$1,671$1,153$778$514$335$263
34 years$1,604$1,093$727$473$303$236
35 years$1,541$1,037$679$435$275$212
36 years$1,482$984$635$401$249$190
37 years$1,426$935$595$370$225$171
38 years$1,373$888$557$341$204$153
39 years$1,323$845$522$314$185$138
40 years$1,276$804$489$290$168$124
41 years$1,231$765$459$267$153$111
42 years$1,188$728$430$247$138$100
43 years$1,147$694$404$228$126$90
44 years$1,109$662$379$210$114$81
45 years$1,072$631$356$194$103$73
46 years$1,037$602$334$179$94$65
47 years$1,003$574$314$166$85$59
48 years$971$548$295$153$77$53
49 years$940$524$277$141$70$48
50 years$911$500$261$131$64$43

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $933,000, adding $2,710 every year, while hoping to spend $41,919 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: 64/6/30 Blend
55$933,000$933,000$933,000$933,000
56$1,030,961$981,512$967,051$1,088,508
57$1,091,518$985,005$954,846$1,131,363
58$1,156,846$987,264$940,826$1,173,343
59$1,227,389$988,184$924,889$1,218,325
60$1,303,632$987,655$906,922$1,266,611
61$1,386,110$985,557$886,811$1,318,535
62$1,475,411$981,767$864,436$1,374,465
63$1,572,179$976,150$839,672$1,434,810
64$1,677,125$968,565$812,385$1,500,022
65$1,791,031$958,863$782,438$1,570,598
66$1,914,754$946,886$749,688$1,647,090
67$2,049,239$932,464$713,983$1,730,107
68$2,195,526$915,419$675,166$1,820,323
69$2,354,759$895,563$633,073$1,918,480
70$2,528,195$872,696$587,531$2,025,401
71$2,717,218$846,606$538,361$2,141,993
72$2,923,353$817,069$485,375$2,269,258
73$3,148,277$783,847$428,377$2,408,304
74$3,393,835$746,689$367,161$2,560,354
75$3,662,060$705,331$301,515$2,726,757
76$3,955,188$659,490$231,214$2,909,005
77$4,275,683$608,871$156,026$3,108,743
78$4,626,256$553,159$75,706$3,327,790
79$5,009,893$492,022$0$3,568,152
80$5,429,881$425,110$0$3,835,246
81$5,889,841$352,053$0$4,154,384
82$6,393,759$272,458$0$4,504,092
83$6,946,026$185,912$0$4,887,441
84$7,551,478$91,978$0$5,307,812
85$8,215,439$0$0$5,768,932
86$8,943,777$0$0$6,275,555
87$9,742,952$0$0$6,838,179
88$10,620,080$0$0$7,455,750
89$11,583,001$0$0$8,133,796
90$12,640,349$0$0$8,878,405
91$13,801,637$0$0$9,696,286
92$15,077,344$0$0$10,594,828
93$16,479,013$0$0$11,582,171
94$18,019,361$0$0$12,667,283
95$19,712,398$0$0$13,860,044
96$21,573,560$0$0$15,171,339
97$23,619,851$0$0$16,613,159
98$25,870,006$0$0$18,198,717
99$28,344,666$0$0$19,942,568
100$31,066,573$0$0$21,860,751