Can I retire at age 56 with 937,000?

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 $937,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.8%
1 years$77,377$76,687$76,015$75,359$74,718$72,067
2 years$38,305$37,592$36,900$36,230$35,580$32,937
3 years$25,283$24,567$23,877$23,213$22,573$20,022
4 years$18,773$18,059$17,376$16,724$16,099$13,659
5 years$14,869$14,159$13,485$12,845$12,239$9,916
6 years$12,266$11,562$10,898$10,273$9,684$7,480
7 years$10,408$9,709$9,056$8,446$7,876$5,791
8 years$9,015$8,323$7,680$7,085$6,534$4,565
9 years$7,932$7,246$6,615$6,035$5,502$3,648
10 years$7,067$6,387$5,767$5,202$4,688$2,946
11 years$6,359$5,686$5,077$4,527$4,032$2,397
12 years$5,769$5,104$4,506$3,971$3,494$1,963
13 years$5,271$4,612$4,026$3,506$3,047$1,615
14 years$4,844$4,192$3,617$3,112$2,671$1,334
15 years$4,474$3,830$3,266$2,775$2,352$1,106
16 years$4,151$3,514$2,961$2,485$2,078$919
17 years$3,866$3,236$2,694$2,233$1,843$765
18 years$3,614$2,990$2,460$2,012$1,639$639
19 years$3,388$2,771$2,252$1,818$1,460$534
20 years$3,185$2,575$2,066$1,647$1,305$446
21 years$3,001$2,399$1,901$1,495$1,167$374
22 years$2,834$2,239$1,752$1,359$1,046$313
23 years$2,682$2,094$1,617$1,238$939$263
24 years$2,543$1,962$1,496$1,129$844$220
25 years$2,416$1,841$1,386$1,031$760$185
26 years$2,298$1,731$1,285$943$684$155
27 years$2,189$1,629$1,193$863$617$131
28 years$2,088$1,535$1,109$790$557$110
29 years$1,995$1,448$1,032$725$503$92
30 years$1,907$1,367$962$665$454$78
31 years$1,826$1,293$896$611$411$65
32 years$1,750$1,223$836$561$371$55
33 years$1,678$1,158$781$516$336$46
34 years$1,611$1,098$730$475$304$39
35 years$1,548$1,041$682$437$276$33
36 years$1,488$988$638$403$250$28
37 years$1,432$939$597$371$226$23
38 years$1,379$892$559$342$205$19
39 years$1,329$848$524$315$186$16
40 years$1,281$807$491$291$169$14
41 years$1,236$768$461$268$153$12
42 years$1,193$732$432$248$139$10
43 years$1,152$697$405$229$126$8
44 years$1,113$664$381$211$114$7
45 years$1,076$634$357$195$104$6
46 years$1,041$604$336$180$94$5
47 years$1,007$577$315$166$86$4
48 years$975$551$296$154$78$3
49 years$944$526$278$142$71$3
50 years$915$502$262$131$64$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $937,000, adding $5,242 every year, while hoping to spend $57,503 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: 30/40/30 Blend
55$937,000$937,000$937,000$937,000
56$1,037,981$988,320$973,797$1,059,456
57$1,082,672$975,565$945,236$1,064,035
58$1,129,995$960,258$913,791$1,063,624
59$1,180,157$942,212$879,306$1,062,063
60$1,233,384$921,232$841,614$1,059,294
61$1,289,925$897,109$800,544$1,055,258
62$1,350,052$869,622$755,917$1,049,897
63$1,414,062$838,537$707,544$1,043,153
64$1,482,278$803,608$655,229$1,034,969
65$1,555,059$764,573$598,767$1,025,289
66$1,632,793$721,155$537,944$1,014,060
67$1,715,908$673,061$472,535$1,001,232
68$1,804,872$619,984$402,307$986,756
69$1,900,201$561,594$327,016$970,591
70$2,002,456$497,547$246,406$952,698
71$2,112,258$427,478$160,211$933,046
72$2,230,283$351,000$68,154$911,612
73$2,357,279$267,706$0$888,382
74$2,494,063$177,165$0$872,982
75$2,641,533$78,922$0$879,697
76$2,800,678$0$0$886,813
77$2,972,580$0$0$906,580
78$3,158,434$0$0$965,624
79$3,359,548$0$0$1,029,638
80$3,577,362$0$0$1,099,095
81$3,813,460$0$0$1,174,516
82$4,069,584$0$0$1,256,475
83$4,347,647$0$0$1,345,601
84$4,649,756$0$0$1,442,589
85$4,978,228$0$0$1,548,202
86$5,335,611$0$0$1,663,278
87$5,724,710$0$0$1,788,743
88$6,148,610$0$0$1,925,613
89$6,610,708$0$0$2,075,008
90$7,114,739$0$0$2,238,161
91$7,664,819$0$0$2,416,427
92$8,265,475$0$0$2,611,300
93$8,921,691$0$0$2,824,426
94$9,638,955$0$0$3,057,613
95$10,423,309$0$0$3,312,856
96$11,281,404$0$0$3,592,350
97$12,220,564$0$0$3,898,512
98$13,248,855$0$0$4,234,004
99$14,375,159$0$0$4,601,759
100$15,609,255$0$0$5,005,005