Can I retire at age 56 with 938,000?

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 $938,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.6%
1 years$77,459$76,769$76,096$75,439$74,797$74,295
2 years$38,346$37,632$36,940$36,269$35,618$35,111
3 years$25,310$24,593$23,903$23,238$22,597$22,102
4 years$18,793$18,078$17,395$16,741$16,117$15,636
5 years$14,884$14,174$13,499$12,859$12,252$11,788
6 years$12,279$11,574$10,909$10,283$9,694$9,248
7 years$10,419$9,720$9,066$8,455$7,884$7,455
8 years$9,025$8,332$7,688$7,092$6,541$6,129
9 years$7,941$7,254$6,622$6,041$5,508$5,114
10 years$7,074$6,394$5,773$5,208$4,693$4,316
11 years$6,365$5,692$5,083$4,532$4,036$3,676
12 years$5,775$5,109$4,511$3,975$3,498$3,154
13 years$5,276$4,617$4,030$3,510$3,050$2,723
14 years$4,849$4,197$3,621$3,115$2,674$2,362
15 years$4,479$3,834$3,269$2,778$2,354$2,058
16 years$4,156$3,518$2,964$2,488$2,081$1,799
17 years$3,871$3,240$2,697$2,235$1,845$1,578
18 years$3,618$2,993$2,462$2,014$1,640$1,388
19 years$3,391$2,774$2,254$1,820$1,462$1,223
20 years$3,188$2,578$2,069$1,649$1,306$1,080
21 years$3,004$2,401$1,903$1,496$1,169$955
22 years$2,837$2,242$1,754$1,360$1,048$846
23 years$2,685$2,096$1,619$1,239$940$751
24 years$2,546$1,964$1,497$1,130$845$667
25 years$2,418$1,843$1,387$1,032$761$592
26 years$2,300$1,732$1,286$944$685$527
27 years$2,192$1,630$1,194$864$618$469
28 years$2,091$1,536$1,110$791$557$418
29 years$1,997$1,449$1,033$726$503$373
30 years$1,909$1,369$963$666$455$333
31 years$1,828$1,294$897$612$411$297
32 years$1,751$1,224$837$562$372$265
33 years$1,680$1,159$782$517$337$237
34 years$1,613$1,099$730$476$305$212
35 years$1,549$1,042$683$438$276$189
36 years$1,490$989$639$403$250$169
37 years$1,434$940$598$371$227$151
38 years$1,380$893$560$342$205$135
39 years$1,330$849$525$316$186$121
40 years$1,282$808$492$291$169$108
41 years$1,237$769$461$269$153$97
42 years$1,194$732$432$248$139$87
43 years$1,153$698$406$229$126$78
44 years$1,114$665$381$211$115$69
45 years$1,077$634$358$195$104$62
46 years$1,042$605$336$180$94$56
47 years$1,008$577$316$167$86$50
48 years$976$551$297$154$78$45
49 years$945$526$279$142$71$40
50 years$916$503$262$131$64$36

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $938,000, adding $2,225 every year, while hoping to spend $30,736 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: 78/16/6 Blend
55$938,000$938,000$938,000$938,000
56$1,035,971$986,257$971,718$1,116,064
57$1,108,937$1,001,881$971,568$1,184,525
58$1,188,316$1,017,240$970,382$1,255,352
59$1,274,728$1,032,289$968,095$1,332,108
60$1,368,859$1,046,980$964,634$1,415,368
61$1,471,461$1,061,259$959,927$1,505,766
62$1,583,361$1,075,073$953,896$1,604,000
63$1,705,473$1,088,360$946,460$1,710,838
64$1,838,798$1,101,057$937,534$1,827,129
65$1,984,444$1,113,097$927,030$1,953,803
66$2,143,625$1,124,406$914,853$2,091,890
67$2,317,680$1,134,908$900,906$2,242,521
68$2,508,085$1,144,520$885,088$2,406,943
69$2,716,462$1,153,153$867,290$2,586,530
70$2,944,598$1,160,715$847,402$2,782,797
71$3,194,463$1,167,106$825,306$2,997,411
72$3,468,224$1,172,220$800,879$3,232,210
73$3,768,268$1,175,944$773,994$3,489,221
74$4,097,225$1,178,159$744,516$3,770,674
75$4,457,989$1,178,736$712,305$4,079,028
76$4,853,752$1,177,542$677,215$4,416,995
77$5,288,025$1,174,432$639,092$4,787,559
78$5,764,679$1,169,255$597,777$5,194,011
79$6,287,975$1,161,847$553,102$5,639,979
80$6,862,610$1,152,039$504,892$6,129,459
81$7,493,755$1,139,648$452,965$6,666,854
82$8,187,109$1,124,481$397,130$7,257,019
83$8,948,948$1,106,334$337,187$7,905,303
84$9,786,187$1,084,991$272,930$8,617,599
85$10,706,444$1,060,222$204,139$9,400,406
86$11,718,113$1,031,785$130,589$10,260,882
87$12,830,440$999,421$52,043$11,206,917
88$14,053,612$962,860$0$12,247,208
89$15,398,854$921,814$0$13,393,373
90$16,878,531$875,976$0$14,657,627
91$18,506,268$825,027$0$16,048,293
92$20,297,078$768,623$0$17,578,215
93$22,267,500$706,406$0$19,261,552
94$24,435,759$637,993$0$21,113,905
95$26,821,935$562,984$0$23,152,465
96$29,448,153$480,951$0$25,396,181
97$32,338,793$391,445$0$27,865,931
98$35,520,716$293,992$0$30,584,726
99$39,023,521$188,090$0$33,577,923
100$42,879,823$73,209$0$36,873,468