Can I retire at age 56 with 930,000?

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 $930,000?

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$76,799$76,114$75,447$74,796$74,160$72,396
2 years$38,019$37,311$36,625$35,959$35,314$33,548
3 years$25,094$24,383$23,699$23,040$22,405$20,691
4 years$18,633$17,924$17,247$16,599$15,979$14,331
5 years$14,757$14,053$13,384$12,749$12,147$10,569
6 years$12,175$11,475$10,816$10,196$9,612$8,105
7 years$10,330$9,637$8,988$8,383$7,817$6,382
8 years$8,948$8,261$7,623$7,032$6,485$5,121
9 years$7,873$7,192$6,566$5,990$5,461$4,168
10 years$7,014$6,340$5,724$5,163$4,653$3,429
11 years$6,311$5,644$5,039$4,493$4,002$2,845
12 years$5,726$5,066$4,472$3,941$3,468$2,376
13 years$5,231$4,578$3,996$3,480$3,024$1,995
14 years$4,808$4,161$3,590$3,089$2,651$1,683
15 years$4,441$3,801$3,241$2,755$2,334$1,425
16 years$4,120$3,488$2,939$2,467$2,063$1,210
17 years$3,838$3,212$2,674$2,216$1,829$1,030
18 years$3,587$2,968$2,441$1,997$1,626$879
19 years$3,362$2,751$2,235$1,805$1,450$751
20 years$3,161$2,556$2,051$1,634$1,295$643
21 years$2,979$2,381$1,887$1,483$1,159$551
22 years$2,813$2,222$1,739$1,349$1,039$472
23 years$2,662$2,079$1,605$1,228$932$406
24 years$2,524$1,948$1,485$1,120$838$349
25 years$2,398$1,828$1,375$1,023$754$300
26 years$2,281$1,718$1,275$935$679$258
27 years$2,173$1,617$1,184$856$612$222
28 years$2,073$1,523$1,101$785$553$191
29 years$1,980$1,437$1,025$719$499$165
30 years$1,893$1,357$954$660$451$142
31 years$1,812$1,283$890$606$408$122
32 years$1,736$1,214$830$557$369$106
33 years$1,665$1,150$775$512$334$91
34 years$1,599$1,090$724$472$302$79
35 years$1,536$1,033$677$434$274$68
36 years$1,477$981$633$400$248$58
37 years$1,421$932$593$368$225$50
38 years$1,369$885$555$339$204$44
39 years$1,319$842$520$313$185$38
40 years$1,271$801$488$289$168$32
41 years$1,227$762$457$266$152$28
42 years$1,184$726$429$246$138$24
43 years$1,144$692$402$227$125$21
44 years$1,105$659$378$210$114$18
45 years$1,068$629$355$194$103$16
46 years$1,033$600$333$179$94$13
47 years$1,000$573$313$165$85$12
48 years$968$547$294$153$77$10
49 years$937$522$276$141$70$9
50 years$908$499$260$130$64$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $930,000, adding $6,301 every year, while hoping to spend $52,531 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: 27/45/28 Blend
55$930,000$930,000$930,000$930,000
56$1,031,359$982,069$967,654$1,050,093
57$1,080,666$974,298$944,178$1,057,981
58$1,133,240$964,386$918,155$1,061,518
59$1,189,362$952,171$889,444$1,064,249
60$1,249,334$937,485$857,898$1,066,143
61$1,313,491$920,147$823,363$1,067,168
62$1,382,199$899,966$785,677$1,067,297
63$1,455,859$876,741$744,673$1,066,506
64$1,534,913$850,256$700,175$1,064,773
65$1,619,841$820,287$651,999$1,062,084
66$1,711,177$786,592$599,953$1,058,426
67$1,809,501$748,919$543,835$1,053,796
68$1,915,453$706,999$483,437$1,048,196
69$2,029,736$660,549$418,538$1,041,639
70$2,153,121$609,268$348,912$1,034,146
71$2,286,457$552,840$274,318$1,025,751
72$2,430,675$490,928$194,507$1,016,501
73$2,586,800$423,180$109,219$1,006,458
74$2,755,957$349,220$18,182$995,702
75$2,939,386$268,653$0$984,334
76$3,138,448$181,061$0$996,069
77$3,354,640$86,004$0$1,014,791
78$3,589,610$0$0$1,035,334
79$3,845,170$0$0$1,066,414
80$4,123,314$0$0$1,146,726
81$4,426,236$0$0$1,234,333
82$4,756,349$0$0$1,329,952
83$5,116,311$0$0$1,434,369
84$5,509,046$0$0$1,548,454
85$5,937,772$0$0$1,673,160
86$6,406,033$0$0$1,809,539
87$6,917,728$0$0$1,958,748
88$7,477,153$0$0$2,122,063
89$8,089,033$0$0$2,300,888
90$8,758,576$0$0$2,496,767
91$9,491,512$0$0$2,711,403
92$10,294,154$0$0$2,946,671
93$11,173,453$0$0$3,204,636
94$12,137,063$0$0$3,487,571
95$13,193,414$0$0$3,797,981
96$14,351,792$0$0$4,138,626
97$15,622,424$0$0$4,512,544
98$17,016,572$0$0$4,923,083
99$18,546,643$0$0$5,373,930
100$20,226,306$0$0$5,869,147