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%12.4%
1 years$77,129$76,442$75,772$75,117$74,478$73,731
2 years$38,183$37,471$36,782$36,114$35,466$34,713
3 years$25,202$24,488$23,801$23,139$22,501$21,767
4 years$18,713$18,001$17,321$16,670$16,048$15,337
5 years$14,821$14,113$13,442$12,804$12,199$11,514
6 years$12,227$11,525$10,863$10,240$9,653$8,994
7 years$10,375$9,678$9,027$8,419$7,850$7,219
8 years$8,986$8,296$7,656$7,062$6,513$5,908
9 years$7,907$7,223$6,594$6,015$5,485$4,906
10 years$7,044$6,367$5,749$5,185$4,673$4,121
11 years$6,338$5,668$5,061$4,513$4,019$3,493
12 years$5,751$5,087$4,492$3,958$3,483$2,982
13 years$5,254$4,597$4,013$3,495$3,037$2,561
14 years$4,828$4,179$3,606$3,102$2,662$2,210
15 years$4,460$3,818$3,255$2,767$2,344$1,915
16 years$4,138$3,503$2,951$2,477$2,072$1,665
17 years$3,854$3,226$2,686$2,226$1,837$1,452
18 years$3,602$2,981$2,452$2,006$1,633$1,270
19 years$3,377$2,763$2,244$1,812$1,456$1,113
20 years$3,174$2,567$2,060$1,641$1,300$977
21 years$2,991$2,391$1,895$1,490$1,164$859
22 years$2,825$2,232$1,746$1,355$1,043$756
23 years$2,674$2,088$1,612$1,234$936$667
24 years$2,535$1,956$1,491$1,125$842$589
25 years$2,408$1,836$1,381$1,028$757$520
26 years$2,291$1,725$1,281$940$682$460
27 years$2,182$1,624$1,189$860$615$407
28 years$2,082$1,530$1,106$788$555$360
29 years$1,988$1,443$1,029$723$501$319
30 years$1,901$1,363$958$663$453$283
31 years$1,820$1,288$894$609$409$251
32 years$1,744$1,219$834$560$370$222
33 years$1,673$1,155$778$515$335$197
34 years$1,606$1,094$727$474$303$175
35 years$1,543$1,038$680$436$275$155
36 years$1,483$985$636$401$249$138
37 years$1,427$936$595$370$226$123
38 years$1,374$889$558$341$205$109
39 years$1,324$846$522$314$186$97
40 years$1,277$804$490$290$168$86
41 years$1,232$766$459$268$153$76
42 years$1,189$729$431$247$139$68
43 years$1,148$695$404$228$126$60
44 years$1,110$662$379$210$114$54
45 years$1,073$632$356$194$104$48
46 years$1,038$603$335$180$94$42
47 years$1,004$575$314$166$85$38
48 years$972$549$295$153$78$34
49 years$941$524$278$142$70$30
50 years$912$501$261$131$64$27

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $934,000, adding $6,367 every year, while hoping to spend $40,057 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: 52/20/28 Blend
55$934,000$934,000$934,000$934,000
56$1,035,836$986,334$971,857$1,081,270
57$1,098,870$992,044$961,793$1,119,229
58$1,166,992$996,691$950,051$1,155,940
59$1,240,678$1,000,181$936,530$1,195,084
60$1,320,451$1,002,414$921,127$1,236,912
61$1,406,887$1,003,282$903,735$1,281,699
62$1,500,620$1,002,674$884,241$1,329,752
63$1,602,346$1,000,467$862,526$1,381,412
64$1,712,831$996,536$838,466$1,437,054
65$1,832,918$990,744$811,932$1,497,095
66$1,963,532$982,947$782,789$1,561,998
67$2,105,695$972,994$750,895$1,632,273
68$2,260,527$960,722$716,101$1,708,487
69$2,429,264$945,961$678,254$1,791,267
70$2,613,264$928,528$637,190$1,881,307
71$2,814,023$908,232$592,742$1,979,374
72$3,033,187$884,869$544,733$2,086,319
73$3,272,568$858,223$492,977$2,203,081
74$3,534,160$828,067$437,282$2,330,699
75$3,820,161$794,158$377,447$2,470,324
76$4,132,987$756,241$313,261$2,623,226
77$4,475,301$714,047$244,505$2,790,812
78$4,850,035$667,288$170,949$2,974,634
79$5,260,417$615,663$92,354$3,176,411
80$5,710,001$558,853$8,470$3,398,039
81$6,202,704$496,519$0$3,641,617
82$6,742,835$428,305$0$3,933,676
83$7,335,146$353,833$0$4,256,836
84$7,984,865$272,704$0$4,611,477
85$8,697,753$184,499$0$5,000,812
86$9,480,157$88,773$0$5,428,382
87$10,339,066$0$0$5,898,095
88$11,282,179$0$0$6,417,546
89$12,317,979$0$0$7,009,601
90$13,455,808$0$0$7,660,077
91$14,705,960$0$0$8,374,869
92$16,079,773$0$0$9,160,473
93$17,589,740$0$0$10,024,048
94$19,249,624$0$0$10,973,477
95$21,074,586$0$0$12,017,447
96$23,081,332$0$0$13,165,530
97$25,288,266$0$0$14,428,270
98$27,715,665$0$0$15,817,285
99$30,385,870$0$0$17,345,375
100$33,323,498$0$0$19,026,645