Can I retire at age 56 with 935,000?

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 $935,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.3%
1 years$77,211$76,524$75,853$75,198$74,558$72,638
2 years$38,223$37,512$36,822$36,153$35,504$33,582
3 years$25,229$24,514$23,826$23,163$22,525$20,662
4 years$18,733$18,021$17,339$16,688$16,065$14,275
5 years$14,837$14,128$13,456$12,818$12,212$10,500
6 years$12,240$11,537$10,874$10,251$9,663$8,030
7 years$10,386$9,689$9,037$8,428$7,859$6,305
8 years$8,996$8,305$7,664$7,070$6,520$5,045
9 years$7,915$7,231$6,601$6,022$5,491$4,093
10 years$7,051$6,374$5,755$5,191$4,678$3,357
11 years$6,345$5,674$5,066$4,518$4,023$2,776
12 years$5,757$5,093$4,496$3,963$3,487$2,311
13 years$5,260$4,602$4,017$3,498$3,040$1,934
14 years$4,834$4,183$3,609$3,105$2,665$1,626
15 years$4,465$3,822$3,259$2,769$2,347$1,372
16 years$4,142$3,506$2,955$2,480$2,074$1,161
17 years$3,858$3,229$2,689$2,228$1,839$984
18 years$3,606$2,984$2,454$2,008$1,635$837
19 years$3,380$2,765$2,247$1,814$1,457$712
20 years$3,178$2,570$2,062$1,643$1,302$607
21 years$2,995$2,394$1,897$1,491$1,165$519
22 years$2,828$2,234$1,748$1,356$1,044$443
23 years$2,677$2,090$1,614$1,235$937$379
24 years$2,538$1,958$1,493$1,126$842$324
25 years$2,411$1,837$1,383$1,029$758$278
26 years$2,293$1,727$1,282$941$683$238
27 years$2,185$1,625$1,191$861$616$204
28 years$2,084$1,531$1,107$789$556$175
29 years$1,990$1,445$1,030$723$502$150
30 years$1,903$1,364$959$664$453$129
31 years$1,822$1,290$894$610$410$111
32 years$1,746$1,220$835$560$371$95
33 years$1,674$1,156$779$515$335$82
34 years$1,607$1,095$728$474$304$70
35 years$1,544$1,039$681$436$275$60
36 years$1,485$986$637$402$249$52
37 years$1,429$937$596$370$226$45
38 years$1,376$890$558$341$205$38
39 years$1,326$846$523$315$186$33
40 years$1,278$805$490$290$168$28
41 years$1,233$767$460$268$153$24
42 years$1,190$730$431$247$139$21
43 years$1,150$696$405$228$126$18
44 years$1,111$663$380$211$114$15
45 years$1,074$632$357$195$104$13
46 years$1,039$603$335$180$94$11
47 years$1,005$576$315$166$86$10
48 years$973$549$296$153$78$8
49 years$942$525$278$142$71$7
50 years$913$501$261$131$64$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $935,000, adding $3,666 every year, while hoping to spend $31,773 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: 68/8/24 Blend
55$935,000$935,000$935,000$935,000
56$1,034,151$984,596$970,104$1,097,896
57$1,105,829$999,035$968,796$1,155,552
58$1,183,752$1,013,117$966,380$1,214,614
59$1,268,525$1,026,790$962,784$1,278,484
60$1,360,812$1,040,000$957,935$1,347,638
61$1,461,344$1,052,689$951,754$1,422,600
62$1,570,924$1,064,794$944,161$1,503,945
63$1,690,438$1,076,248$935,070$1,592,311
64$1,820,859$1,086,982$924,392$1,688,400
65$1,963,261$1,096,917$912,033$1,792,986
66$2,118,822$1,105,975$897,895$1,906,922
67$2,288,844$1,114,069$881,875$2,031,150
68$2,474,755$1,121,108$863,867$2,166,706
69$2,678,131$1,126,994$843,758$2,314,736
70$2,900,707$1,131,623$821,431$2,476,501
71$3,144,391$1,134,885$796,761$2,653,393
72$3,411,288$1,136,663$769,621$2,846,946
73$3,703,712$1,136,832$739,876$3,058,851
74$4,024,215$1,135,261$707,386$3,290,974
75$4,375,604$1,131,808$672,003$3,545,372
76$4,760,975$1,126,325$633,574$3,824,313
77$5,183,733$1,118,654$591,938$4,130,296
78$5,647,633$1,108,627$546,927$4,466,079
79$6,156,808$1,096,066$498,365$4,834,701
80$6,715,812$1,080,783$446,070$5,239,513
81$7,329,661$1,062,578$389,849$5,684,211
82$8,003,881$1,041,239$329,504$6,172,868
83$8,744,559$1,016,542$264,825$6,709,975
84$9,558,401$988,250$195,594$7,300,484
85$10,452,795$956,111$121,583$7,949,852
86$11,435,880$919,860$42,556$8,664,099
87$12,516,621$879,215$0$9,449,857
88$13,704,898$833,878$0$10,325,140
89$15,011,594$783,534$0$11,299,637
90$16,448,700$727,851$0$12,371,395
91$18,029,428$666,476$0$13,550,284
92$19,768,332$599,036$0$14,847,181
93$21,681,453$525,139$0$16,274,069
94$23,786,459$444,369$0$17,844,156
95$26,102,820$356,286$0$19,571,994
96$28,651,991$260,427$0$21,473,619
97$31,457,607$156,301$0$23,566,702
98$34,545,714$43,391$0$25,870,716
99$37,945,010$0$0$28,407,121
100$41,687,117$0$0$31,206,504