Can I retire at age 56 with 934,000?

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 $934,000?

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$77,129$76,442$75,772$75,117$74,478$74,009
2 years$38,183$37,471$36,782$36,114$35,466$34,992
3 years$25,202$24,488$23,801$23,139$22,501$22,038
4 years$18,713$18,001$17,321$16,670$16,048$15,599
5 years$14,821$14,113$13,442$12,804$12,199$11,766
6 years$12,227$11,525$10,863$10,240$9,653$9,236
7 years$10,375$9,678$9,027$8,419$7,850$7,449
8 years$8,986$8,296$7,656$7,062$6,513$6,128
9 years$7,907$7,223$6,594$6,015$5,485$5,116
10 years$7,044$6,367$5,749$5,185$4,673$4,320
11 years$6,338$5,668$5,061$4,513$4,019$3,682
12 years$5,751$5,087$4,492$3,958$3,483$3,161
13 years$5,254$4,597$4,013$3,495$3,037$2,731
14 years$4,828$4,179$3,606$3,102$2,662$2,371
15 years$4,460$3,818$3,255$2,767$2,344$2,067
16 years$4,138$3,503$2,951$2,477$2,072$1,808
17 years$3,854$3,226$2,686$2,226$1,837$1,587
18 years$3,602$2,981$2,452$2,006$1,633$1,396
19 years$3,377$2,763$2,244$1,812$1,456$1,232
20 years$3,174$2,567$2,060$1,641$1,300$1,088
21 years$2,991$2,391$1,895$1,490$1,164$963
22 years$2,825$2,232$1,746$1,355$1,043$854
23 years$2,674$2,088$1,612$1,234$936$758
24 years$2,535$1,956$1,491$1,125$842$674
25 years$2,408$1,836$1,381$1,028$757$599
26 years$2,291$1,725$1,281$940$682$534
27 years$2,182$1,624$1,189$860$615$476
28 years$2,082$1,530$1,106$788$555$424
29 years$1,988$1,443$1,029$723$501$378
30 years$1,901$1,363$958$663$453$338
31 years$1,820$1,288$894$609$409$302
32 years$1,744$1,219$834$560$370$270
33 years$1,673$1,155$778$515$335$241
34 years$1,606$1,094$727$474$303$216
35 years$1,543$1,038$680$436$275$193
36 years$1,483$985$636$401$249$173
37 years$1,427$936$595$370$226$154
38 years$1,374$889$558$341$205$138
39 years$1,324$846$522$314$186$124
40 years$1,277$804$490$290$168$111
41 years$1,232$766$459$268$153$99
42 years$1,189$729$431$247$139$89
43 years$1,148$695$404$228$126$80
44 years$1,110$662$379$210$114$71
45 years$1,073$632$356$194$104$64
46 years$1,038$603$335$180$94$57
47 years$1,004$575$314$166$85$51
48 years$972$549$295$153$78$46
49 years$941$524$278$142$70$41
50 years$912$501$261$131$64$37

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $934,000, adding $3,056 every year, while hoping to spend $46,505 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: 58/20/22 Blend
55$934,000$934,000$934,000$934,000
56$1,032,420$982,918$968,441$1,086,052
57$1,088,246$981,600$951,403$1,121,601
58$1,148,208$978,659$932,235$1,155,069
59$1,212,677$973,966$910,818$1,190,544
60$1,282,065$967,385$887,025$1,228,230
61$1,356,819$958,770$860,724$1,268,353
62$1,437,434$947,969$831,777$1,311,166
63$1,524,451$934,818$800,040$1,356,948
64$1,618,467$919,146$765,363$1,406,009
65$1,720,135$900,769$727,588$1,458,695
66$1,830,176$879,494$686,550$1,515,387
67$1,949,381$855,117$642,076$1,576,509
68$2,078,620$827,419$593,987$1,642,530
69$2,218,848$796,171$542,095$1,713,972
70$2,371,118$761,132$486,203$1,791,410
71$2,536,588$722,042$426,106$1,875,484
72$2,716,529$678,631$361,589$1,966,902
73$2,912,342$630,611$292,430$2,066,448
74$3,125,567$577,678$218,393$2,174,990
75$3,357,901$519,511$139,235$2,293,488
76$3,611,210$455,769$54,702$2,423,007
77$3,887,546$386,094$0$2,564,724
78$4,189,170$310,107$0$2,728,276
79$4,518,570$227,407$0$2,921,013
80$4,878,485$137,572$0$3,131,743
81$5,271,931$40,153$0$3,362,299
82$5,702,227$0$0$3,614,704
83$6,173,029$0$0$3,905,563
84$6,688,362$0$0$4,233,684
85$7,252,658$0$0$4,593,060
86$7,870,798$0$0$4,986,810
87$8,548,156$0$0$5,418,368
88$9,290,653$0$0$5,891,516
89$10,104,809$0$0$6,410,420
90$10,997,803$0$0$6,979,669
91$11,977,544$0$0$7,604,316
92$13,052,746$0$0$8,289,927
93$14,233,003$0$0$9,042,635
94$15,528,886$0$0$9,869,194
95$16,952,039$0$0$10,777,044
96$18,515,288$0$0$11,774,383
97$20,232,764$0$0$12,870,240
98$22,120,034$0$0$14,074,563
99$24,194,246$0$0$15,398,310
100$26,474,294$0$0$16,853,557