Can I retire at age 56 with 934,000?

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 $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%17.4%
1 years$77,129$76,442$75,772$75,117$74,478$72,239
2 years$38,183$37,471$36,782$36,114$35,466$33,229
3 years$25,202$24,488$23,801$23,139$22,501$20,336
4 years$18,713$18,001$17,321$16,670$16,048$13,972
5 years$14,821$14,113$13,442$12,804$12,199$10,218
6 years$12,227$11,525$10,863$10,240$9,653$7,767
7 years$10,375$9,678$9,027$8,419$7,850$6,061
8 years$8,986$8,296$7,656$7,062$6,513$4,818
9 years$7,907$7,223$6,594$6,015$5,485$3,884
10 years$7,044$6,367$5,749$5,185$4,673$3,163
11 years$6,338$5,668$5,061$4,513$4,019$2,597
12 years$5,751$5,087$4,492$3,958$3,483$2,147
13 years$5,254$4,597$4,013$3,495$3,037$1,783
14 years$4,828$4,179$3,606$3,102$2,662$1,488
15 years$4,460$3,818$3,255$2,767$2,344$1,245
16 years$4,138$3,503$2,951$2,477$2,072$1,046
17 years$3,854$3,226$2,686$2,226$1,837$880
18 years$3,602$2,981$2,452$2,006$1,633$742
19 years$3,377$2,763$2,244$1,812$1,456$626
20 years$3,174$2,567$2,060$1,641$1,300$530
21 years$2,991$2,391$1,895$1,490$1,164$448
22 years$2,825$2,232$1,746$1,355$1,043$380
23 years$2,674$2,088$1,612$1,234$936$322
24 years$2,535$1,956$1,491$1,125$842$273
25 years$2,408$1,836$1,381$1,028$757$232
26 years$2,291$1,725$1,281$940$682$197
27 years$2,182$1,624$1,189$860$615$168
28 years$2,082$1,530$1,106$788$555$142
29 years$1,988$1,443$1,029$723$501$121
30 years$1,901$1,363$958$663$453$103
31 years$1,820$1,288$894$609$409$88
32 years$1,744$1,219$834$560$370$75
33 years$1,673$1,155$778$515$335$63
34 years$1,606$1,094$727$474$303$54
35 years$1,543$1,038$680$436$275$46
36 years$1,483$985$636$401$249$39
37 years$1,427$936$595$370$226$33
38 years$1,374$889$558$341$205$28
39 years$1,324$846$522$314$186$24
40 years$1,277$804$490$290$168$21
41 years$1,232$766$459$268$153$18
42 years$1,189$729$431$247$139$15
43 years$1,148$695$404$228$126$13
44 years$1,110$662$379$210$114$11
45 years$1,073$632$356$194$104$9
46 years$1,038$603$335$180$94$8
47 years$1,004$575$314$166$85$7
48 years$972$549$295$153$78$6
49 years$941$524$278$142$70$5
50 years$912$501$261$131$64$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $934,000, adding $4,638 every year, while hoping to spend $42,763 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: 55/15/30 Blend
55$934,000$934,000$934,000$934,000
56$1,034,052$984,550$970,073$1,082,077
57$1,094,026$987,294$957,071$1,118,524
58$1,158,684$988,738$942,200$1,153,435
59$1,228,458$988,775$925,353$1,190,616
60$1,303,825$987,289$906,416$1,230,303
61$1,385,306$984,157$885,272$1,272,756
62$1,473,476$979,249$861,797$1,318,264
63$1,568,965$972,427$835,862$1,367,148
64$1,672,468$963,545$807,332$1,419,765
65$1,784,747$952,446$776,065$1,476,508
66$1,906,643$938,967$741,914$1,537,814
67$2,039,076$922,932$704,724$1,604,167
68$2,183,064$904,158$664,334$1,676,105
69$2,339,722$882,447$620,575$1,754,220
70$2,510,280$857,593$573,271$1,839,171
71$2,696,090$829,377$522,237$1,931,685
72$2,898,640$797,565$467,281$2,032,568
73$3,119,568$761,913$408,201$2,142,713
74$3,360,676$722,159$344,788$2,263,105
75$3,623,950$678,029$276,823$2,394,837
76$3,911,572$629,232$204,076$2,539,116
77$4,225,948$575,460$126,309$2,697,276
78$4,569,726$516,389$43,271$2,870,795
79$4,945,820$451,674$0$3,061,304
80$5,357,440$380,952$0$3,285,123
81$5,808,120$303,840$0$3,545,455
82$6,301,753$219,933$0$3,830,729
83$6,842,624$128,802$0$4,143,475
84$7,435,454$29,996$0$4,486,483
85$8,085,442$0$0$4,862,827
86$8,798,312$0$0$5,288,602
87$9,580,373$0$0$5,761,221
88$10,438,569$0$0$6,279,942
89$11,380,553$0$0$6,849,402
90$12,414,753$0$0$7,474,707
91$13,550,452$0$0$8,161,484
92$14,797,879$0$0$8,915,929
93$16,168,300$0$0$9,744,869
94$17,674,126$0$0$10,655,826
95$19,329,032$0$0$11,657,086
96$21,148,080$0$0$12,757,776
97$23,147,867$0$0$13,967,955
98$25,346,677$0$0$15,298,702
99$27,764,654$0$0$16,762,224
100$30,423,991$0$0$18,371,972