Can I retire at age 56 with 904,000?

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 $904,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.3%
1 years$74,651$73,987$73,338$72,705$72,086$71,393
2 years$36,956$36,268$35,601$34,954$34,327$33,628
3 years$24,393$23,701$23,036$22,395$21,778$21,096
4 years$18,112$17,423$16,764$16,135$15,532$14,872
5 years$14,345$13,660$13,010$12,393$11,808$11,171
6 years$11,834$11,154$10,514$9,911$9,343$8,731
7 years$10,042$9,367$8,737$8,148$7,598$7,011
8 years$8,698$8,030$7,410$6,835$6,304$5,741
9 years$7,653$6,991$6,382$5,822$5,308$4,771
10 years$6,818$6,162$5,564$5,019$4,523$4,010
11 years$6,135$5,486$4,898$4,368$3,890$3,400
12 years$5,566$4,924$4,347$3,831$3,371$2,905
13 years$5,085$4,450$3,884$3,382$2,940$2,496
14 years$4,673$4,045$3,490$3,002$2,577$2,156
15 years$4,317$3,695$3,151$2,678$2,269$1,869
16 years$4,005$3,390$2,857$2,398$2,005$1,627
17 years$3,730$3,122$2,599$2,154$1,778$1,420
18 years$3,486$2,885$2,373$1,941$1,581$1,242
19 years$3,268$2,674$2,172$1,754$1,409$1,089
20 years$3,072$2,485$1,994$1,589$1,259$957
21 years$2,895$2,314$1,834$1,442$1,126$842
22 years$2,735$2,160$1,690$1,311$1,010$742
23 years$2,588$2,021$1,561$1,194$906$655
24 years$2,454$1,893$1,443$1,089$815$578
25 years$2,331$1,777$1,337$995$733$511
26 years$2,217$1,670$1,240$909$660$452
27 years$2,112$1,571$1,151$832$595$401
28 years$2,015$1,481$1,070$763$537$355
29 years$1,924$1,397$996$699$485$315
30 years$1,840$1,319$928$642$438$279
31 years$1,762$1,247$865$589$396$248
32 years$1,688$1,180$807$542$358$220
33 years$1,619$1,117$753$498$324$195
34 years$1,554$1,059$704$458$294$173
35 years$1,493$1,005$658$422$266$154
36 years$1,436$953$616$389$241$137
37 years$1,382$906$576$358$218$122
38 years$1,330$861$540$330$198$108
39 years$1,282$818$506$304$180$96
40 years$1,236$779$474$281$163$86
41 years$1,192$741$444$259$148$76
42 years$1,151$706$417$239$134$68
43 years$1,112$673$391$221$122$60
44 years$1,074$641$367$204$110$54
45 years$1,038$611$345$188$100$48
46 years$1,004$583$324$174$91$42
47 years$972$557$304$161$83$38
48 years$941$531$286$148$75$34
49 years$911$507$269$137$68$30
50 years$883$485$253$127$62$27

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $904,000, adding $2,912 every year, while hoping to spend $56,936 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: 63/21/16 Blend
55$904,000$904,000$904,000$904,000
56$999,212$951,300$937,288$1,058,024
57$1,040,552$937,334$908,107$1,083,904
58$1,084,200$920,776$876,041$1,105,410
59$1,130,333$901,438$840,933$1,127,530
60$1,179,140$879,122$802,617$1,150,325
61$1,230,832$853,618$760,924$1,173,867
62$1,285,636$824,704$715,674$1,198,236
63$1,343,801$792,145$666,680$1,223,522
64$1,405,601$755,692$613,746$1,249,828
65$1,471,333$715,082$556,667$1,277,268
66$1,541,325$670,037$495,231$1,305,973
67$1,615,933$620,261$429,214$1,336,091
68$1,695,548$565,445$358,384$1,367,785
69$1,780,601$505,258$282,496$1,401,241
70$1,871,560$439,354$201,298$1,436,666
71$1,968,942$367,364$114,523$1,474,295
72$2,073,310$288,901$21,896$1,514,387
73$2,185,285$203,555$0$1,557,237
74$2,305,548$110,893$0$1,616,308
75$2,434,844$10,457$0$1,683,672
76$2,573,993$0$0$1,756,049
77$2,723,896$0$0$1,856,652
78$2,885,541$0$0$1,967,791
79$3,060,013$0$0$2,087,801
80$3,248,506$0$0$2,217,510
81$3,452,331$0$0$2,357,827
82$3,672,930$0$0$2,509,751
83$3,911,885$0$0$2,674,382
84$4,170,941$0$0$2,852,927
85$4,452,011$0$0$3,046,715
86$4,757,203$0$0$3,257,207
87$5,088,834$0$0$3,486,011
88$5,449,452$0$0$3,734,894
89$5,841,863$0$0$4,005,804
90$6,269,151$0$0$4,300,879
91$6,734,713$0$0$4,622,476
92$7,242,284$0$0$4,973,188
93$7,795,977$0$0$5,355,867
94$8,400,319$0$0$5,773,656
95$9,060,292$0$0$6,230,011
96$9,781,382$0$0$6,728,738
97$10,569,626$0$0$7,274,029
98$11,431,673$0$0$7,870,497
99$12,374,843$0$0$8,523,221
100$13,407,196$0$0$9,237,796