Can I retire at age 56 with 918,000?

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 $918,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.6%
1 years$75,808$75,132$74,474$73,830$73,203$71,813
2 years$37,529$36,830$36,152$35,495$34,858$33,464
3 years$24,770$24,069$23,393$22,742$22,116$20,759
4 years$18,393$17,693$17,024$16,385$15,773$14,466
5 years$14,567$13,871$13,211$12,585$11,990$10,736
6 years$12,017$11,327$10,677$10,064$9,488$8,287
7 years$10,197$9,512$8,872$8,274$7,716$6,570
8 years$8,832$8,154$7,525$6,941$6,401$5,309
9 years$7,771$7,099$6,481$5,912$5,391$4,352
10 years$6,923$6,258$5,650$5,096$4,593$3,607
11 years$6,230$5,571$4,974$4,435$3,950$3,015
12 years$5,652$5,000$4,415$3,890$3,423$2,538
13 years$5,164$4,519$3,944$3,435$2,985$2,148
14 years$4,746$4,107$3,544$3,049$2,617$1,827
15 years$4,384$3,752$3,200$2,719$2,304$1,560
16 years$4,067$3,443$2,901$2,435$2,036$1,336
17 years$3,788$3,170$2,640$2,188$1,805$1,147
18 years$3,540$2,930$2,410$1,971$1,605$987
19 years$3,319$2,715$2,206$1,781$1,431$851
20 years$3,120$2,523$2,025$1,613$1,278$735
21 years$2,940$2,350$1,862$1,464$1,144$636
22 years$2,777$2,194$1,716$1,331$1,025$550
23 years$2,628$2,052$1,585$1,212$920$477
24 years$2,492$1,922$1,466$1,106$827$414
25 years$2,367$1,804$1,357$1,010$744$359
26 years$2,251$1,696$1,259$923$670$312
27 years$2,145$1,596$1,169$845$604$271
28 years$2,046$1,504$1,087$774$545$236
29 years$1,954$1,418$1,011$710$493$205
30 years$1,869$1,340$942$652$445$179
31 years$1,789$1,266$878$599$402$156
32 years$1,714$1,198$819$550$364$136
33 years$1,644$1,135$765$506$329$118
34 years$1,578$1,076$715$465$298$103
35 years$1,516$1,020$668$428$270$90
36 years$1,458$968$625$395$245$78
37 years$1,403$920$585$364$222$68
38 years$1,351$874$548$335$201$59
39 years$1,302$831$513$309$182$52
40 years$1,255$791$481$285$165$45
41 years$1,211$753$451$263$150$39
42 years$1,169$717$423$243$136$34
43 years$1,129$683$397$224$124$30
44 years$1,091$651$373$207$112$26
45 years$1,054$621$350$191$102$23
46 years$1,020$592$329$176$92$20
47 years$987$565$309$163$84$17
48 years$955$539$290$151$76$15
49 years$925$515$273$139$69$13
50 years$896$492$257$129$63$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $918,000, adding $4,070 every year, while hoping to spend $44,412 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: 56/28/16 Blend
55$918,000$918,000$918,000$918,000
56$1,015,834$967,180$952,951$1,068,232
57$1,072,195$967,318$937,621$1,104,440
58$1,132,817$965,974$920,289$1,138,703
59$1,198,086$963,029$900,841$1,175,018
60$1,268,429$958,356$879,157$1,213,590
61$1,344,314$951,820$855,114$1,254,649
62$1,426,253$943,278$828,579$1,298,448
63$1,514,812$932,581$799,418$1,345,268
64$1,610,612$919,565$767,487$1,395,421
65$1,714,333$904,063$732,637$1,449,254
66$1,826,727$885,894$694,712$1,507,152
67$1,948,616$864,866$653,548$1,569,539
68$2,080,909$840,778$608,976$1,636,889
69$2,224,602$813,417$560,817$1,709,724
70$2,380,792$782,555$508,885$1,788,624
71$2,550,686$747,953$452,985$1,874,232
72$2,735,611$709,358$392,915$1,967,259
73$2,937,028$666,501$328,463$2,068,492
74$3,156,545$619,099$259,406$2,178,805
75$3,395,930$566,853$185,515$2,299,162
76$3,657,132$509,446$106,546$2,430,633
77$3,942,293$446,542$22,249$2,574,401
78$4,253,772$377,789$0$2,731,773
79$4,594,168$302,811$0$2,915,759
80$4,966,339$221,214$0$3,121,204
81$5,373,433$132,582$0$3,346,126
82$5,818,918$36,473$0$3,592,535
83$6,306,610$0$0$3,862,650
84$6,840,714$0$0$4,179,742
85$7,425,856$0$0$4,539,528
86$8,067,136$0$0$4,933,917
87$8,770,168$0$0$5,366,371
88$9,541,135$0$0$5,840,705
89$10,386,847$0$0$6,361,120
90$11,314,806$0$0$6,932,244
91$12,333,274$0$0$7,559,176
92$13,451,354$0$0$8,247,529
93$14,679,071$0$0$9,003,490
94$16,027,468$0$0$9,833,873
95$17,508,713$0$0$10,746,183
96$19,136,208$0$0$11,748,691
97$20,924,717$0$0$12,850,505
98$22,890,509$0$0$14,061,664
99$25,051,502$0$0$15,393,223
100$27,427,440$0$0$16,857,366