Can I retire at age 56 with 923,000?

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 $923,000?

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%
1 years$76,220$75,542$74,879$74,233$73,601$72,352
2 years$37,733$37,030$36,349$35,689$35,048$33,794
3 years$24,905$24,200$23,520$22,866$22,236$21,015
4 years$18,493$17,789$17,117$16,474$15,859$14,681
5 years$14,646$13,947$13,283$12,653$12,056$10,924
6 years$12,083$11,389$10,735$10,119$9,539$8,455
7 years$10,253$9,564$8,921$8,319$7,758$6,722
8 years$8,880$8,198$7,565$6,979$6,436$5,448
9 years$7,814$7,138$6,516$5,945$5,420$4,479
10 years$6,961$6,292$5,681$5,124$4,618$3,723
11 years$6,264$5,601$5,001$4,460$3,972$3,122
12 years$5,683$5,027$4,439$3,912$3,442$2,637
13 years$5,192$4,543$3,966$3,453$3,001$2,239
14 years$4,772$4,130$3,563$3,066$2,631$1,911
15 years$4,407$3,773$3,217$2,734$2,317$1,637
16 years$4,089$3,461$2,917$2,448$2,047$1,407
17 years$3,809$3,188$2,654$2,199$1,815$1,212
18 years$3,560$2,946$2,423$1,982$1,614$1,047
19 years$3,337$2,730$2,218$1,791$1,439$906
20 years$3,137$2,537$2,036$1,622$1,285$786
21 years$2,956$2,363$1,872$1,472$1,150$682
22 years$2,792$2,206$1,726$1,339$1,031$593
23 years$2,642$2,063$1,593$1,219$925$516
24 years$2,505$1,933$1,474$1,112$832$449
25 years$2,380$1,814$1,365$1,015$748$392
26 years$2,264$1,705$1,266$928$674$342
27 years$2,157$1,604$1,175$850$608$298
28 years$2,057$1,512$1,093$779$548$260
29 years$1,965$1,426$1,017$714$495$227
30 years$1,879$1,347$947$655$447$199
31 years$1,799$1,273$883$602$405$174
32 years$1,723$1,205$824$553$366$152
33 years$1,653$1,141$769$509$331$133
34 years$1,587$1,081$719$468$300$116
35 years$1,525$1,026$672$431$272$102
36 years$1,466$973$629$397$246$89
37 years$1,411$925$588$366$223$78
38 years$1,358$879$551$337$202$68
39 years$1,309$836$516$311$183$60
40 years$1,262$795$484$287$166$52
41 years$1,217$757$454$264$151$46
42 years$1,175$721$426$244$137$40
43 years$1,135$687$399$225$124$35
44 years$1,097$655$375$208$113$31
45 years$1,060$624$352$192$102$27
46 years$1,025$595$331$177$93$24
47 years$992$568$311$164$84$21
48 years$961$542$292$151$77$18
49 years$930$518$274$140$70$16
50 years$901$495$258$129$63$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $923,000, adding $4,946 every year, while hoping to spend $43,304 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: 65/17/18 Blend
55$923,000$923,000$923,000$923,000
56$1,022,248$973,329$959,022$1,083,805
57$1,080,442$974,947$945,074$1,127,311
58$1,143,121$975,193$929,208$1,169,417
59$1,210,695$973,954$911,313$1,214,392
60$1,283,618$971,109$891,274$1,262,516
61$1,362,387$966,533$868,971$1,314,101
62$1,447,546$960,090$844,278$1,369,491
63$1,539,698$951,635$817,062$1,429,065
64$1,639,500$941,019$787,187$1,493,244
65$1,747,679$928,079$754,508$1,562,491
66$1,865,032$912,644$718,874$1,637,319
67$1,992,436$894,535$680,127$1,718,297
68$2,130,857$873,559$638,104$1,806,049
69$2,281,355$849,514$592,631$1,901,268
70$2,445,098$822,185$543,529$2,004,719
71$2,623,371$791,345$490,610$2,117,247
72$2,817,587$756,754$433,678$2,239,784
73$3,029,302$718,156$372,527$2,373,363
74$3,260,228$675,283$306,944$2,519,122
75$3,512,250$627,850$236,705$2,678,318
76$3,787,442$575,556$161,576$2,852,341
77$4,088,086$518,084$81,315$3,042,724
78$4,416,698$455,097$0$3,251,160
79$4,776,044$386,240$0$3,480,353
80$5,169,172$311,137$0$3,748,255
81$5,599,438$229,393$0$4,041,565
82$6,070,535$140,588$0$4,362,853
83$6,586,532$44,280$0$4,714,956
84$7,151,911$0$0$5,100,998
85$7,771,605$0$0$5,535,651
86$8,451,050$0$0$6,021,355
87$9,196,230$0$0$6,554,116
88$10,013,738$0$0$7,138,653
89$10,910,836$0$0$7,780,167
90$11,895,523$0$0$8,484,388
91$12,976,609$0$0$9,257,623
92$14,163,799$0$0$10,106,826
93$15,467,786$0$0$11,039,652
94$16,900,346$0$0$12,064,538
95$18,474,456$0$0$13,190,775
96$20,204,408$0$0$14,428,602
97$22,105,950$0$0$15,789,296
98$24,196,431$0$0$17,285,285
99$26,494,966$0$0$18,930,256
100$29,022,611$0$0$20,739,294