Can I retire at age 56 with 931,000?

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 $931,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.3%
1 years$76,881$76,196$75,528$74,876$74,239$73,221
2 years$38,060$37,351$36,664$35,998$35,352$34,327
3 years$25,121$24,409$23,724$23,064$22,429$21,430
4 years$18,653$17,943$17,265$16,617$15,996$15,032
5 years$14,773$14,068$13,398$12,763$12,160$11,232
6 years$12,188$11,487$10,828$10,207$9,622$8,731
7 years$10,341$9,647$8,998$8,392$7,825$6,973
8 years$8,957$8,269$7,631$7,039$6,492$5,677
9 years$7,882$7,200$6,573$5,996$5,467$4,690
10 years$7,021$6,346$5,730$5,169$4,658$3,918
11 years$6,318$5,650$5,045$4,498$4,006$3,302
12 years$5,732$5,071$4,477$3,946$3,472$2,803
13 years$5,237$4,583$4,000$3,483$3,027$2,393
14 years$4,813$4,166$3,594$3,092$2,654$2,053
15 years$4,446$3,805$3,245$2,758$2,337$1,768
16 years$4,125$3,491$2,942$2,469$2,065$1,528
17 years$3,842$3,215$2,677$2,219$1,831$1,324
18 years$3,591$2,971$2,444$1,999$1,628$1,150
19 years$3,366$2,754$2,237$1,807$1,451$1,001
20 years$3,164$2,559$2,053$1,636$1,296$873
21 years$2,982$2,383$1,889$1,485$1,160$763
22 years$2,816$2,225$1,741$1,350$1,040$667
23 years$2,665$2,081$1,607$1,230$933$584
24 years$2,527$1,950$1,486$1,121$839$512
25 years$2,400$1,830$1,377$1,024$755$449
26 years$2,283$1,720$1,277$936$680$394
27 years$2,175$1,618$1,186$857$613$346
28 years$2,075$1,525$1,102$785$553$304
29 years$1,982$1,439$1,026$720$499$268
30 years$1,895$1,359$955$661$451$235
31 years$1,814$1,284$891$607$408$207
32 years$1,738$1,215$831$558$369$182
33 years$1,667$1,151$776$513$334$161
34 years$1,601$1,091$725$472$302$142
35 years$1,538$1,035$678$435$274$125
36 years$1,479$982$634$400$248$110
37 years$1,423$933$593$369$225$97
38 years$1,370$886$556$340$204$85
39 years$1,320$843$521$313$185$75
40 years$1,273$802$488$289$168$66
41 years$1,228$763$458$267$152$59
42 years$1,185$727$429$246$138$52
43 years$1,145$693$403$227$125$46
44 years$1,106$660$378$210$114$40
45 years$1,069$630$355$194$103$35
46 years$1,034$601$333$179$94$31
47 years$1,001$573$313$165$85$28
48 years$969$547$294$153$77$24
49 years$938$522$277$141$70$21
50 years$909$499$260$130$64$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $931,000, adding $3,897 every year, while hoping to spend $52,984 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: 37/34/29 Blend
55$931,000$931,000$931,000$931,000
56$1,029,982$980,639$966,208$1,059,049
57$1,078,665$972,315$942,202$1,072,607
58$1,130,539$961,809$915,615$1,082,156
59$1,185,872$948,955$886,306$1,091,467
60$1,244,959$933,582$854,126$1,100,552
61$1,308,124$915,507$818,919$1,109,434
62$1,375,722$894,536$780,521$1,118,137
63$1,448,141$870,464$738,764$1,126,697
64$1,525,808$843,073$693,470$1,135,158
65$1,609,191$812,134$644,451$1,143,571
66$1,698,803$777,403$591,514$1,152,002
67$1,795,207$738,622$534,457$1,160,528
68$1,899,024$695,520$473,066$1,169,241
69$2,010,931$647,808$407,121$1,178,249
70$2,131,677$595,182$336,391$1,187,678
71$2,262,082$537,319$260,633$1,197,677
72$2,403,046$473,879$179,596$1,208,415
73$2,555,561$404,504$93,017$1,220,090
74$2,720,716$328,812$621$1,232,929
75$2,899,708$246,403$0$1,247,189
76$3,093,853$156,852$0$1,293,488
77$3,304,600$59,712$0$1,344,018
78$3,533,542$0$0$1,399,067
79$3,782,430$0$0$1,476,191
80$4,053,190$0$0$1,584,510
81$4,347,945$0$0$1,702,547
82$4,669,026$0$0$1,831,251
83$5,019,001$0$0$1,971,666
84$5,400,697$0$0$2,124,943
85$5,817,223$0$0$2,292,347
86$6,272,003$0$0$2,475,273
87$6,768,805$0$0$2,675,254
88$7,311,778$0$0$2,893,979
89$7,905,491$0$0$3,133,308
90$8,554,971$0$0$3,395,290
91$9,265,756$0$0$3,682,179
92$10,043,944$0$0$3,996,458
93$10,896,249$0$0$4,340,863
94$11,830,065$0$0$4,718,405
95$12,853,537$0$0$5,132,402
96$13,975,632$0$0$5,586,507
97$15,206,228$0$0$6,084,745
98$16,556,205$0$0$6,631,548
99$18,037,546$0$0$7,231,799
100$19,663,452$0$0$7,890,877