Can I retire at age 56 with 905,000?

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 $905,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14%
1 years$74,734$74,068$73,419$72,785$72,166$70,970
2 years$36,997$36,308$35,640$34,993$34,365$33,164
3 years$24,420$23,728$23,062$22,420$21,802$20,633
4 years$18,132$17,442$16,783$16,152$15,550$14,422
5 years$14,361$13,675$13,024$12,407$11,821$10,737
6 years$11,847$11,167$10,526$9,922$9,353$8,315
7 years$10,053$9,378$8,747$8,157$7,607$6,614
8 years$8,707$8,038$7,418$6,843$6,310$5,363
9 years$7,661$6,999$6,389$5,829$5,314$4,412
10 years$6,825$6,169$5,570$5,024$4,528$3,670
11 years$6,141$5,492$4,904$4,373$3,894$3,080
12 years$5,572$4,929$4,352$3,835$3,375$2,602
13 years$5,091$4,455$3,888$3,386$2,943$2,212
14 years$4,678$4,049$3,494$3,006$2,580$1,888
15 years$4,322$3,699$3,154$2,681$2,271$1,619
16 years$4,009$3,394$2,860$2,400$2,007$1,392
17 years$3,734$3,126$2,602$2,157$1,780$1,200
18 years$3,490$2,888$2,376$1,944$1,583$1,038
19 years$3,272$2,677$2,175$1,756$1,411$899
20 years$3,076$2,487$1,996$1,591$1,260$780
21 years$2,899$2,317$1,836$1,443$1,128$677
22 years$2,738$2,163$1,692$1,312$1,011$589
23 years$2,591$2,023$1,562$1,195$907$513
24 years$2,457$1,895$1,445$1,090$815$447
25 years$2,333$1,779$1,338$996$734$390
26 years$2,220$1,672$1,241$910$661$341
27 years$2,114$1,573$1,152$833$596$298
28 years$2,017$1,482$1,071$763$538$260
29 years$1,927$1,398$997$700$486$227
30 years$1,842$1,321$929$643$439$199
31 years$1,763$1,248$866$590$397$174
32 years$1,690$1,181$808$542$359$152
33 years$1,621$1,119$754$499$325$133
34 years$1,556$1,060$705$459$294$117
35 years$1,495$1,006$659$422$266$102
36 years$1,437$955$616$389$241$90
37 years$1,383$907$577$358$219$79
38 years$1,332$862$540$330$198$69
39 years$1,283$819$506$305$180$60
40 years$1,237$779$474$281$163$53
41 years$1,194$742$445$259$148$46
42 years$1,152$707$417$239$134$41
43 years$1,113$673$392$221$122$36
44 years$1,075$642$368$204$111$31
45 years$1,040$612$345$188$100$27
46 years$1,005$584$324$174$91$24
47 years$973$557$305$161$83$21
48 years$942$532$286$149$75$18
49 years$912$508$269$137$68$16
50 years$884$485$253$127$62$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $905,000, adding $6,203 every year, while hoping to spend $46,825 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: 35/41/24 Blend
55$905,000$905,000$905,000$905,000
56$1,003,708$955,743$941,716$1,031,361
57$1,056,265$952,753$923,442$1,049,402
58$1,112,613$948,047$902,986$1,064,138
59$1,173,090$941,492$880,227$1,079,102
60$1,238,066$932,946$855,035$1,094,346
61$1,307,947$922,258$827,277$1,109,927
62$1,383,179$909,271$796,812$1,125,915
63$1,464,252$893,814$763,494$1,142,390
64$1,551,705$875,709$727,170$1,159,445
65$1,646,127$854,768$687,679$1,177,186
66$1,748,170$830,788$644,853$1,195,736
67$1,858,545$803,560$598,519$1,215,237
68$1,978,040$772,857$548,492$1,235,849
69$2,107,515$738,442$494,581$1,257,755
70$2,247,920$700,064$436,588$1,281,164
71$2,400,297$657,457$374,303$1,306,311
72$2,565,794$610,339$307,509$1,333,466
73$2,745,673$558,413$235,978$1,362,929
74$2,941,322$501,366$159,474$1,395,044
75$3,154,268$438,864$77,747$1,430,194
76$3,386,192$370,557$0$1,468,813
77$3,638,943$296,073$0$1,513,813
78$3,914,556$215,022$0$1,584,720
79$4,215,272$126,990$0$1,662,290
80$4,543,556$31,538$0$1,747,285
81$4,902,123$0$0$1,840,552
82$5,293,959$0$0$1,975,425
83$5,722,355$0$0$2,138,564
84$6,190,933$0$0$2,317,135
85$6,703,680$0$0$2,512,674
86$7,264,987$0$0$2,726,873
87$7,879,689$0$0$2,961,594
88$8,553,112$0$0$3,218,889
89$9,291,120$0$0$3,501,017
90$10,100,170$0$0$3,810,466
91$10,987,376$0$0$4,149,979
92$11,960,572$0$0$4,522,574
93$13,028,388$0$0$4,931,575
94$14,200,327$0$0$5,380,648
95$15,486,860$0$0$5,873,827
96$16,899,520$0$0$6,415,557
97$18,451,011$0$0$7,010,735
98$20,155,327$0$0$7,664,757
99$22,027,887$0$0$8,383,565
100$24,085,674$0$0$9,173,707