Can I retire at age 56 with 900,000?

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 $900,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.5%
1 years$74,321$73,659$73,013$72,383$71,767$69,581
2 years$36,793$36,107$35,443$34,799$34,175$31,991
3 years$24,285$23,597$22,934$22,296$21,682$19,569
4 years$18,032$17,346$16,690$16,063$15,464$13,438
5 years$14,281$13,599$12,952$12,338$11,755$9,822
6 years$11,782$11,105$10,467$9,867$9,302$7,463
7 years$9,997$9,326$8,698$8,112$7,565$5,820
8 years$8,659$7,994$7,377$6,805$6,276$4,624
9 years$7,619$6,960$6,354$5,796$5,285$3,725
10 years$6,787$6,135$5,539$4,997$4,503$3,032
11 years$6,108$5,462$4,877$4,348$3,873$2,488
12 years$5,541$4,902$4,328$3,814$3,356$2,055
13 years$5,063$4,430$3,867$3,367$2,927$1,706
14 years$4,653$4,027$3,474$2,989$2,565$1,422
15 years$4,298$3,679$3,137$2,666$2,259$1,190
16 years$3,987$3,375$2,844$2,387$1,996$998
17 years$3,714$3,108$2,588$2,145$1,770$839
18 years$3,471$2,872$2,362$1,933$1,574$707
19 years$3,254$2,662$2,163$1,746$1,403$596
20 years$3,059$2,474$1,985$1,582$1,253$504
21 years$2,883$2,304$1,826$1,436$1,121$426
22 years$2,722$2,151$1,683$1,305$1,005$361
23 years$2,577$2,012$1,554$1,189$902$306
24 years$2,443$1,885$1,437$1,084$811$259
25 years$2,320$1,769$1,331$990$730$220
26 years$2,207$1,662$1,234$905$657$187
27 years$2,103$1,564$1,146$829$593$159
28 years$2,006$1,474$1,065$759$535$135
29 years$1,916$1,391$991$696$483$114
30 years$1,832$1,313$924$639$436$97
31 years$1,754$1,242$861$587$394$83
32 years$1,680$1,175$803$539$357$70
33 years$1,612$1,113$750$496$323$60
34 years$1,547$1,054$701$456$292$51
35 years$1,487$1,000$655$420$265$43
36 years$1,429$949$613$387$240$37
37 years$1,375$902$574$356$217$31
38 years$1,324$857$537$329$197$27
39 years$1,276$815$503$303$179$23
40 years$1,230$775$472$279$162$19
41 years$1,187$738$442$258$147$16
42 years$1,146$703$415$238$133$14
43 years$1,107$670$389$220$121$12
44 years$1,069$638$366$203$110$10
45 years$1,034$609$343$187$100$9
46 years$1,000$581$322$173$91$7
47 years$968$554$303$160$82$6
48 years$937$529$285$148$75$5
49 years$907$505$267$136$68$5
50 years$879$482$251$126$62$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $900,000, adding $2,382 every year, while hoping to spend $42,183 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$900,000$900,000$900,000$900,000
56$994,257$946,557$932,607$1,049,768
57$1,050,789$948,056$918,967$1,089,210
58$1,111,673$948,215$903,456$1,127,462
59$1,177,309$946,923$885,967$1,168,364
60$1,248,136$944,063$866,389$1,212,184
61$1,324,636$939,512$844,602$1,259,218
62$1,407,337$933,137$820,485$1,309,792
63$1,496,824$924,798$793,910$1,364,270
64$1,593,735$914,349$764,741$1,423,051
65$1,698,775$901,630$732,838$1,486,579
66$1,812,716$886,477$698,055$1,555,343
67$1,936,411$868,712$660,237$1,629,886
68$2,070,795$848,149$619,225$1,710,804
69$2,216,897$824,589$574,850$1,798,762
70$2,375,850$797,824$526,938$1,894,489
71$2,548,901$767,631$475,304$1,998,795
72$2,737,420$733,777$419,758$2,112,572
73$2,942,918$696,012$360,101$2,236,807
74$3,167,053$654,075$296,122$2,372,591
75$3,411,656$607,687$227,605$2,521,128
76$3,678,736$556,556$154,322$2,683,749
77$3,970,511$500,370$76,035$2,861,922
78$4,289,418$438,803$0$3,057,270
79$4,638,141$371,507$0$3,273,989
80$5,019,637$298,117$0$3,537,783
81$5,437,161$218,245$0$3,826,559
82$5,894,295$131,484$0$4,142,816
83$6,394,988$37,401$0$4,489,312
84$6,943,585$0$0$4,869,081
85$7,544,872$0$0$5,289,725
86$8,204,122$0$0$5,753,687
87$8,927,140$0$0$6,262,593
88$9,720,320$0$0$6,820,951
89$10,590,708$0$0$7,433,728
90$11,546,060$0$0$8,106,395
91$12,594,925$0$0$8,844,979
92$13,746,715$0$0$9,656,117
93$15,011,802$0$0$10,547,124
94$16,401,609$0$0$11,526,055
95$17,928,723$0$0$12,601,785
96$19,607,009$0$0$13,784,092
97$21,451,740$0$0$15,083,748
98$23,479,746$0$0$16,512,619
99$25,709,566$0$0$18,083,780
100$28,161,627$0$0$19,811,637