Can I retire at age 56 with 925,000?

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 $925,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.1%
1 years$76,386$75,705$75,041$74,393$73,761$72,212
2 years$37,815$37,110$36,428$35,766$35,124$33,572
3 years$24,959$24,252$23,571$22,916$22,284$20,776
4 years$18,533$17,828$17,154$16,509$15,893$14,441
5 years$14,678$13,977$13,312$12,681$12,082$10,689
6 years$12,109$11,413$10,758$10,141$9,560$8,229
7 years$10,275$9,585$8,940$8,337$7,775$6,505
8 years$8,900$8,216$7,582$6,994$6,450$5,241
9 years$7,831$7,154$6,530$5,957$5,432$4,284
10 years$6,976$6,306$5,693$5,135$4,628$3,539
11 years$6,277$5,613$5,012$4,469$3,980$2,949
12 years$5,695$5,038$4,448$3,920$3,449$2,475
13 years$5,203$4,553$3,974$3,461$3,008$2,088
14 years$4,782$4,139$3,571$3,072$2,637$1,769
15 years$4,417$3,781$3,224$2,740$2,322$1,505
16 years$4,098$3,469$2,923$2,453$2,052$1,285
17 years$3,817$3,195$2,660$2,204$1,819$1,099
18 years$3,567$2,952$2,428$1,986$1,618$942
19 years$3,344$2,736$2,223$1,795$1,442$810
20 years$3,144$2,542$2,040$1,626$1,288$697
21 years$2,963$2,368$1,876$1,475$1,152$600
22 years$2,798$2,211$1,729$1,341$1,033$518
23 years$2,648$2,067$1,597$1,222$927$447
24 years$2,511$1,937$1,477$1,114$833$386
25 years$2,385$1,818$1,368$1,018$750$334
26 years$2,269$1,708$1,269$930$676$289
27 years$2,161$1,608$1,178$852$609$250
28 years$2,062$1,515$1,095$780$550$217
29 years$1,969$1,429$1,019$716$496$188
30 years$1,883$1,350$949$657$448$163
31 years$1,802$1,276$885$603$405$141
32 years$1,727$1,207$826$554$367$122
33 years$1,657$1,143$771$510$332$106
34 years$1,590$1,084$720$469$300$92
35 years$1,528$1,028$673$432$272$80
36 years$1,469$976$630$398$247$69
37 years$1,414$927$590$366$223$60
38 years$1,361$881$552$338$203$52
39 years$1,312$837$517$311$184$45
40 years$1,265$797$485$287$167$39
41 years$1,220$758$455$265$151$34
42 years$1,178$722$426$245$137$30
43 years$1,137$688$400$226$125$26
44 years$1,099$656$376$208$113$22
45 years$1,062$626$353$192$103$19
46 years$1,028$597$331$178$93$17
47 years$994$569$311$164$85$15
48 years$963$544$292$152$77$13
49 years$932$519$275$140$70$11
50 years$903$496$258$130$63$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $925,000, adding $5,777 every year, while hoping to spend $29,261 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: 49/23/28 Blend
55$925,000$925,000$925,000$925,000
56$1,025,309$976,284$961,946$1,067,142
57$1,098,757$992,988$963,038$1,113,768
58$1,178,716$1,009,531$963,186$1,161,047
59$1,265,819$1,025,872$962,327$1,211,847
60$1,360,764$1,041,970$960,395$1,266,514
61$1,464,316$1,057,781$957,323$1,325,432
62$1,577,320$1,073,257$953,038$1,389,024
63$1,700,706$1,088,345$947,463$1,457,758
64$1,835,496$1,102,992$940,521$1,532,150
65$1,982,816$1,117,138$932,128$1,612,770
66$2,143,905$1,130,720$922,196$1,700,247
67$2,320,129$1,143,671$910,636$1,795,275
68$2,512,991$1,155,920$897,351$1,898,622
69$2,724,145$1,167,389$882,241$2,011,133
70$2,955,414$1,177,997$865,202$2,133,743
71$3,208,805$1,187,657$846,125$2,267,483
72$3,486,528$1,196,277$824,895$2,413,491
73$3,791,017$1,203,758$801,392$2,573,022
74$4,124,952$1,209,994$775,491$2,747,464
75$4,491,288$1,214,874$747,060$2,938,346
76$4,893,276$1,218,280$715,964$3,147,355
77$5,334,499$1,220,085$682,057$3,376,355
78$5,818,904$1,220,154$645,191$3,627,401
79$6,350,836$1,218,346$605,210$3,902,761
80$6,935,085$1,214,509$561,948$4,204,936
81$7,576,927$1,208,482$515,236$4,536,687
82$8,282,171$1,200,096$464,895$4,901,060
83$9,057,221$1,189,169$410,737$5,301,414
84$9,909,130$1,175,511$352,569$5,741,454
85$10,845,668$1,158,917$290,187$6,225,270
86$11,875,395$1,139,174$223,377$6,757,371
87$13,007,744$1,116,052$151,919$7,342,730
88$14,253,106$1,089,310$75,580$7,986,833
89$15,622,930$1,058,694$0$8,695,732
90$17,129,830$1,023,931$0$9,477,857
91$18,787,705$984,736$0$10,363,023
92$20,611,868$940,805$0$11,336,819
93$22,619,192$891,817$0$12,408,280
94$24,828,267$837,434$0$13,587,360
95$27,259,579$777,297$0$14,885,035
96$29,935,698$711,026$0$16,313,399
97$32,881,493$638,221$0$17,885,785
98$36,124,369$558,457$0$19,616,886
99$39,694,520$471,287$0$21,522,900
100$43,625,219$376,238$0$23,621,677