Can I retire at age 56 with 909,000?

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 $909,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.4%
1 years$75,064$74,396$73,743$73,107$72,485$71,461
2 years$37,161$36,468$35,798$35,147$34,517$33,487
3 years$24,528$23,833$23,164$22,519$21,899$20,895
4 years$18,212$17,519$16,857$16,224$15,618$14,649
5 years$14,424$13,735$13,082$12,462$11,873$10,940
6 years$11,900$11,216$10,572$9,966$9,395$8,500
7 years$10,097$9,419$8,785$8,193$7,640$6,784
8 years$8,746$8,074$7,451$6,873$6,338$5,520
9 years$7,695$7,030$6,417$5,854$5,338$4,557
10 years$6,855$6,196$5,595$5,047$4,548$3,805
11 years$6,169$5,516$4,926$4,392$3,912$3,205
12 years$5,597$4,951$4,371$3,852$3,390$2,719
13 years$5,113$4,474$3,905$3,401$2,956$2,320
14 years$4,699$4,067$3,509$3,019$2,591$1,989
15 years$4,341$3,715$3,168$2,692$2,281$1,712
16 years$4,027$3,409$2,872$2,411$2,016$1,478
17 years$3,751$3,139$2,614$2,166$1,788$1,280
18 years$3,506$2,901$2,386$1,952$1,590$1,111
19 years$3,286$2,689$2,184$1,764$1,417$967
20 years$3,089$2,498$2,005$1,598$1,266$842
21 years$2,911$2,327$1,844$1,450$1,133$735
22 years$2,750$2,172$1,699$1,318$1,015$643
23 years$2,602$2,032$1,569$1,201$911$562
24 years$2,467$1,904$1,451$1,095$819$492
25 years$2,344$1,786$1,344$1,000$737$432
26 years$2,229$1,679$1,247$914$664$379
27 years$2,124$1,580$1,158$837$599$332
28 years$2,026$1,489$1,076$767$540$292
29 years$1,935$1,405$1,001$703$488$256
30 years$1,850$1,326$933$645$441$225
31 years$1,771$1,254$870$593$398$198
32 years$1,697$1,187$811$545$360$174
33 years$1,628$1,124$758$501$326$153
34 years$1,563$1,065$708$461$295$135
35 years$1,501$1,010$662$424$267$119
36 years$1,444$959$619$391$242$105
37 years$1,389$911$579$360$220$92
38 years$1,338$865$543$332$199$81
39 years$1,289$823$508$306$181$72
40 years$1,243$783$476$282$164$63
41 years$1,199$745$447$260$149$56
42 years$1,157$710$419$240$135$49
43 years$1,118$676$393$222$122$43
44 years$1,080$645$369$205$111$38
45 years$1,044$615$347$189$101$34
46 years$1,010$586$326$175$92$30
47 years$977$560$306$161$83$26
48 years$946$534$287$149$75$23
49 years$916$510$270$138$69$20
50 years$888$487$254$127$62$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $909,000, adding $3,779 every year, while hoping to spend $59,069 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: 38/39/23 Blend
55$909,000$909,000$909,000$909,000
56$1,005,616$957,439$943,350$1,036,793
57$1,045,340$941,505$912,103$1,043,858
58$1,087,136$922,810$877,830$1,045,695
59$1,131,153$901,156$840,366$1,046,498
60$1,177,553$876,336$799,541$1,046,208
61$1,226,514$848,126$755,176$1,044,767
62$1,278,227$816,293$707,083$1,042,114
63$1,332,903$780,589$655,067$1,038,190
64$1,390,771$740,750$598,924$1,032,935
65$1,452,083$696,499$538,441$1,026,291
66$1,517,110$647,543$473,394$1,018,198
67$1,586,154$593,570$403,550$1,008,599
68$1,659,540$534,254$328,668$997,440
69$1,737,627$469,246$248,492$984,669
70$1,820,806$398,181$162,758$970,237
71$1,909,507$320,670$71,189$954,099
72$2,004,199$236,306$0$936,216
73$2,105,397$144,655$0$923,067
74$2,213,666$45,261$0$927,183
75$2,329,624$0$0$931,136
76$2,453,950$0$0$961,764
77$2,587,389$0$0$1,015,569
78$2,730,757$0$0$1,073,466
79$2,884,951$0$0$1,135,829
80$3,050,956$0$0$1,203,069
81$3,229,854$0$0$1,275,635
82$3,422,831$0$0$1,354,025
83$3,631,194$0$0$1,438,780
84$3,856,376$0$0$1,530,500
85$4,099,952$0$0$1,629,841
86$4,363,655$0$0$1,737,527
87$4,649,389$0$0$1,854,353
88$4,959,249$0$0$1,981,192
89$5,295,536$0$0$2,119,006
90$5,660,784$0$0$2,268,853
91$6,057,777$0$0$2,431,895
92$6,489,581$0$0$2,609,414
93$6,959,567$0$0$2,802,819
94$7,471,446$0$0$3,013,659
95$8,029,299$0$0$3,243,640
96$8,637,619$0$0$3,494,641
97$9,301,353$0$0$3,768,729
98$10,025,942$0$0$4,068,179
99$10,817,378$0$0$4,395,497
100$11,682,258$0$0$4,753,441