Can I retire at age 56 with 933,000?

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 $933,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.9%
1 years$77,046$76,360$75,690$75,037$74,399$72,897
2 years$38,142$37,431$36,743$36,075$35,428$33,921
3 years$25,175$24,462$23,775$23,114$22,477$21,012
4 years$18,693$17,982$17,302$16,652$16,031$14,620
5 years$14,805$14,098$13,427$12,791$12,186$10,833
6 years$12,214$11,512$10,851$10,229$9,643$8,349
7 years$10,364$9,668$9,017$8,410$7,842$6,607
8 years$8,977$8,287$7,647$7,055$6,506$5,330
9 years$7,898$7,215$6,587$6,009$5,479$4,361
10 years$7,036$6,360$5,742$5,180$4,668$3,608
11 years$6,332$5,662$5,056$4,508$4,015$3,010
12 years$5,745$5,082$4,487$3,954$3,479$2,529
13 years$5,248$4,593$4,009$3,491$3,034$2,137
14 years$4,823$4,175$3,602$3,099$2,659$1,813
15 years$4,455$3,814$3,252$2,764$2,342$1,545
16 years$4,134$3,499$2,948$2,474$2,070$1,320
17 years$3,850$3,222$2,683$2,223$1,835$1,131
18 years$3,598$2,978$2,449$2,004$1,632$971
19 years$3,373$2,760$2,242$1,810$1,454$836
20 years$3,171$2,564$2,058$1,640$1,299$720
21 years$2,988$2,389$1,893$1,488$1,162$621
22 years$2,822$2,230$1,744$1,353$1,042$537
23 years$2,671$2,085$1,611$1,232$935$464
24 years$2,533$1,954$1,490$1,124$841$402
25 years$2,405$1,834$1,380$1,026$756$348
26 years$2,288$1,723$1,279$938$681$302
27 years$2,180$1,622$1,188$859$614$262
28 years$2,079$1,528$1,105$787$554$227
29 years$1,986$1,442$1,028$722$501$197
30 years$1,899$1,362$957$662$452$171
31 years$1,818$1,287$893$608$409$149
32 years$1,742$1,218$833$559$370$129
33 years$1,671$1,153$778$514$335$112
34 years$1,604$1,093$727$473$303$97
35 years$1,541$1,037$679$435$275$85
36 years$1,482$984$635$401$249$74
37 years$1,426$935$595$370$225$64
38 years$1,373$888$557$341$204$56
39 years$1,323$845$522$314$185$48
40 years$1,276$804$489$290$168$42
41 years$1,231$765$459$267$153$37
42 years$1,188$728$430$247$138$32
43 years$1,147$694$404$228$126$28
44 years$1,109$662$379$210$114$24
45 years$1,072$631$356$194$103$21
46 years$1,037$602$334$179$94$18
47 years$1,003$574$314$166$85$16
48 years$971$548$295$153$77$14
49 years$940$524$277$141$70$12
50 years$911$500$261$131$64$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $933,000, adding $6,783 every year, while hoping to spend $23,893 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: 45/31/24 Blend
55$933,000$933,000$933,000$933,000
56$1,035,163$985,714$971,252$1,074,307
57$1,115,327$1,008,592$978,367$1,125,506
58$1,202,868$1,031,790$984,920$1,178,142
59$1,298,512$1,055,299$990,866$1,234,749
60$1,403,059$1,079,108$996,159$1,295,708
61$1,517,391$1,103,204$1,000,751$1,361,441
62$1,642,479$1,127,575$1,004,589$1,432,412
63$1,779,391$1,152,205$1,007,622$1,509,133
64$1,929,302$1,177,077$1,009,791$1,592,167
65$2,093,510$1,202,173$1,011,038$1,682,137
66$2,273,441$1,227,472$1,011,301$1,779,728
67$2,470,666$1,252,952$1,010,514$1,885,695
68$2,686,917$1,278,589$1,008,608$2,000,873
69$2,924,098$1,304,356$1,005,512$2,126,181
70$3,184,310$1,330,223$1,001,151$2,262,630
71$3,469,865$1,356,160$995,445$2,411,339
72$3,783,311$1,382,131$988,312$2,573,538
73$4,127,453$1,408,100$979,664$2,750,586
74$4,505,382$1,434,025$969,412$2,943,980
75$4,920,503$1,459,865$957,460$3,155,370
76$5,376,567$1,485,571$943,707$3,386,577
77$5,877,706$1,511,093$928,050$3,639,608
78$6,428,472$1,536,377$910,380$3,916,675
79$7,033,880$1,561,363$890,582$4,220,218
80$7,699,455$1,585,990$868,536$4,552,926
81$8,431,285$1,610,189$844,118$4,917,766
82$9,236,076$1,633,888$817,196$5,318,008
83$10,121,217$1,657,010$787,633$5,757,255
84$11,094,849$1,679,471$755,286$6,239,484
85$12,165,941$1,701,182$720,006$6,769,076
86$13,344,376$1,722,049$681,635$7,350,862
87$14,641,043$1,741,970$640,010$7,990,169
88$16,067,940$1,760,837$594,961$8,692,868
89$17,638,285$1,778,534$546,308$9,465,434
90$19,366,646$1,794,937$493,864$10,315,004
91$21,269,070$1,809,916$437,436$11,249,445
92$23,363,244$1,823,330$376,818$12,277,431
93$25,668,652$1,835,030$311,798$13,408,524
94$28,206,766$1,844,858$242,155$14,653,265
95$31,001,244$1,852,645$167,656$16,023,275
96$34,078,157$1,858,211$88,059$17,531,363
97$37,466,232$1,861,365$3,111$19,191,650
98$41,197,121$1,861,905$0$21,019,701
99$45,305,704$1,859,616$0$23,055,095
100$49,830,417$1,854,268$0$25,296,634