Can I retire at age 56 with 910,000?

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 $910,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.8%
1 years$75,147$74,478$73,825$73,187$72,565$70,839
2 years$37,201$36,509$35,837$35,186$34,555$32,826
3 years$24,555$23,859$23,189$22,544$21,923$20,246
4 years$18,232$17,539$16,876$16,242$15,636$14,023
5 years$14,440$13,751$13,096$12,475$11,886$10,342
6 years$11,913$11,228$10,584$9,977$9,405$7,931
7 years$10,108$9,430$8,795$8,202$7,649$6,245
8 years$8,755$8,083$7,459$6,881$6,345$5,011
9 years$7,704$7,038$6,424$5,861$5,344$4,078
10 years$6,863$6,203$5,601$5,052$4,553$3,355
11 years$6,175$5,522$4,931$4,397$3,916$2,784
12 years$5,603$4,957$4,376$3,857$3,393$2,325
13 years$5,119$4,479$3,910$3,405$2,959$1,952
14 years$4,704$4,072$3,513$3,022$2,594$1,647
15 years$4,345$3,719$3,172$2,695$2,284$1,394
16 years$4,032$3,413$2,876$2,413$2,019$1,184
17 years$3,755$3,143$2,617$2,168$1,790$1,008
18 years$3,510$2,904$2,389$1,954$1,591$860
19 years$3,290$2,692$2,187$1,766$1,418$735
20 years$3,093$2,501$2,007$1,599$1,267$629
21 years$2,915$2,330$1,846$1,451$1,134$539
22 years$2,753$2,175$1,701$1,320$1,016$462
23 years$2,605$2,034$1,571$1,202$912$397
24 years$2,470$1,906$1,453$1,096$820$341
25 years$2,346$1,788$1,346$1,001$738$293
26 years$2,232$1,681$1,248$915$665$252
27 years$2,126$1,582$1,159$838$599$217
28 years$2,028$1,491$1,077$768$541$187
29 years$1,937$1,406$1,003$704$488$161
30 years$1,852$1,328$934$646$441$139
31 years$1,773$1,255$871$593$399$120
32 years$1,699$1,188$812$545$361$103
33 years$1,630$1,125$758$501$326$89
34 years$1,564$1,066$709$461$296$77
35 years$1,503$1,011$662$425$268$66
36 years$1,445$960$620$391$243$57
37 years$1,391$912$580$360$220$49
38 years$1,339$866$543$332$199$43
39 years$1,290$824$509$306$181$37
40 years$1,244$784$477$283$164$32
41 years$1,200$746$447$261$149$27
42 years$1,159$711$420$241$135$24
43 years$1,119$677$394$222$122$20
44 years$1,081$645$370$205$111$18
45 years$1,045$615$347$189$101$15
46 years$1,011$587$326$175$92$13
47 years$978$560$306$162$83$11
48 years$947$535$288$149$76$10
49 years$917$511$270$138$69$8
50 years$888$488$254$128$62$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $910,000, adding $2,021 every year, while hoping to spend $22,846 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: 80/9/11 Blend
55$910,000$910,000$910,000$910,000
56$1,004,905$956,675$942,570$1,083,213
57$1,083,097$979,244$949,838$1,157,471
58$1,168,499$1,002,153$956,584$1,235,760
59$1,261,823$1,025,395$962,766$1,321,002
60$1,363,850$1,048,961$968,340$1,413,882
61$1,475,445$1,072,842$973,261$1,515,152
62$1,597,554$1,097,026$977,480$1,625,645
63$1,731,226$1,121,500$980,946$1,746,274
64$1,877,609$1,146,252$983,606$1,878,048
65$2,037,972$1,171,265$985,403$2,022,075
66$2,213,710$1,196,523$986,280$2,179,578
67$2,406,362$1,222,006$986,174$2,351,904
68$2,617,620$1,247,693$985,019$2,540,537
69$2,849,349$1,273,562$982,750$2,747,111
70$3,103,604$1,299,588$979,293$2,973,425
71$3,382,647$1,325,743$974,575$3,221,465
72$3,688,970$1,351,997$968,516$3,493,416
73$4,025,319$1,378,319$961,035$3,791,685
74$4,394,718$1,404,673$952,046$4,118,926
75$4,800,498$1,431,021$941,459$4,478,062
76$5,246,330$1,457,322$929,179$4,872,314
77$5,736,256$1,483,531$915,107$5,305,231
78$6,274,731$1,509,601$899,139$5,780,725
79$6,866,661$1,535,480$881,169$6,303,102
80$7,517,454$1,561,111$861,081$6,877,113
81$8,233,065$1,586,436$838,758$7,507,989
82$9,020,056$1,611,391$814,075$8,201,495
83$9,885,658$1,635,905$786,903$8,963,984
84$10,837,837$1,659,905$757,105$9,802,457
85$11,885,368$1,683,313$724,540$10,724,627
86$13,037,923$1,706,043$689,060$11,738,996
87$14,306,156$1,728,004$650,509$12,854,930
88$15,701,808$1,749,100$608,724$14,082,752
89$17,237,814$1,769,227$563,538$15,433,837
90$18,928,426$1,788,275$514,772$16,920,721
91$20,789,350$1,806,125$462,241$18,557,216
92$22,837,890$1,822,651$405,753$20,358,544
93$25,093,115$1,837,721$345,105$22,341,481
94$27,576,033$1,851,190$280,087$24,524,512
95$30,309,797$1,862,907$210,479$26,928,008
96$33,319,917$1,872,710$136,050$29,574,417
97$36,634,503$1,880,426$56,562$32,488,477
98$40,284,528$1,885,874$0$35,697,451
99$44,304,126$1,888,857$0$39,234,699
100$48,730,905$1,889,170$0$43,137,310