Can I retire at age 56 with 939,000?

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 $939,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.4%
1 years$77,542$76,851$76,177$75,519$74,877$73,516
2 years$38,387$37,672$36,979$36,307$35,656$34,289
3 years$25,337$24,619$23,928$23,263$22,622$21,292
4 years$18,813$18,098$17,413$16,759$16,134$14,852
5 years$14,900$14,189$13,514$12,873$12,265$11,034
6 years$12,292$11,586$10,921$10,294$9,705$8,526
7 years$10,430$9,730$9,075$8,464$7,892$6,767
8 years$9,034$8,340$7,697$7,100$6,548$5,475
9 years$7,949$7,262$6,629$6,048$5,514$4,493
10 years$7,082$6,401$5,779$5,213$4,698$3,728
11 years$6,372$5,698$5,088$4,537$4,041$3,121
12 years$5,781$5,115$4,516$3,979$3,502$2,630
13 years$5,282$4,622$4,034$3,513$3,053$2,229
14 years$4,854$4,201$3,625$3,119$2,677$1,899
15 years$4,484$3,838$3,273$2,781$2,357$1,623
16 years$4,160$3,521$2,967$2,490$2,083$1,392
17 years$3,875$3,243$2,700$2,238$1,847$1,197
18 years$3,621$2,997$2,465$2,017$1,642$1,031
19 years$3,395$2,777$2,256$1,822$1,464$891
20 years$3,191$2,581$2,071$1,650$1,307$770
21 years$3,007$2,404$1,905$1,498$1,170$667
22 years$2,840$2,244$1,756$1,362$1,049$579
23 years$2,688$2,099$1,621$1,240$941$502
24 years$2,549$1,966$1,499$1,131$846$437
25 years$2,421$1,845$1,388$1,033$761$380
26 years$2,303$1,734$1,288$945$686$330
27 years$2,194$1,632$1,196$865$618$288
28 years$2,093$1,538$1,112$792$558$251
29 years$1,999$1,451$1,034$726$504$218
30 years$1,911$1,370$964$667$455$190
31 years$1,830$1,295$898$612$412$166
32 years$1,753$1,226$838$563$372$145
33 years$1,682$1,161$783$517$337$126
34 years$1,614$1,100$731$476$305$110
35 years$1,551$1,043$684$438$276$96
36 years$1,491$990$639$404$250$84
37 years$1,435$941$599$372$227$73
38 years$1,382$894$561$343$206$64
39 years$1,331$850$525$316$187$56
40 years$1,284$809$492$292$169$49
41 years$1,238$770$462$269$153$43
42 years$1,195$733$433$248$139$37
43 years$1,155$699$406$229$126$33
44 years$1,116$666$381$212$115$29
45 years$1,079$635$358$195$104$25
46 years$1,043$606$336$180$95$22
47 years$1,009$578$316$167$86$19
48 years$977$552$297$154$78$17
49 years$946$527$279$142$71$15
50 years$917$503$262$132$64$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $939,000, adding $3,792 every year, while hoping to spend $58,339 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: 60/30/10 Blend
55$939,000$939,000$939,000$939,000
56$1,038,689$988,922$974,368$1,098,386
57$1,082,564$975,307$944,937$1,125,299
58$1,128,957$959,070$912,565$1,147,674
59$1,178,067$940,020$877,091$1,170,643
60$1,230,105$917,956$838,349$1,194,268
61$1,285,305$892,665$796,163$1,218,618
62$1,343,922$863,922$750,350$1,243,770
63$1,406,234$831,486$700,720$1,269,815
64$1,472,547$795,107$647,071$1,296,855
65$1,543,195$754,515$589,196$1,325,004
66$1,618,543$709,428$526,876$1,354,393
67$1,698,992$659,547$459,884$1,385,170
68$1,784,980$604,556$387,981$1,417,500
69$1,876,989$544,120$310,919$1,451,570
70$1,975,545$477,886$228,439$1,487,592
71$2,081,229$405,480$140,269$1,525,804
72$2,194,673$326,508$46,127$1,566,470
73$2,316,576$240,552$0$1,609,892
74$2,447,701$147,174$0$1,662,201
75$2,588,888$45,907$0$1,723,605
76$2,741,059$0$0$1,789,632
77$2,905,226$0$0$1,881,831
78$3,082,503$0$0$1,997,815
79$3,274,112$0$0$2,123,236
80$3,481,397$0$0$2,258,983
81$3,705,835$0$0$2,406,029
82$3,949,049$0$0$2,565,448
83$4,212,826$0$0$2,738,418
84$4,499,128$0$0$2,926,238
85$4,810,116$0$0$3,130,332
86$5,148,165$0$0$3,352,272
87$5,515,889$0$0$3,593,783
88$5,916,163$0$0$3,856,764
89$6,352,151$0$0$4,143,307
90$6,827,335$0$0$4,455,711
91$7,345,546$0$0$4,796,509
92$7,911,002$0$0$5,168,487
93$8,528,346$0$0$5,574,713
94$9,202,686$0$0$6,018,564
95$9,939,650$0$0$6,503,757
96$10,745,430$0$0$7,034,386
97$11,626,846$0$0$7,614,958
98$12,591,405$0$0$8,250,434
99$13,647,376$0$0$8,946,279
100$14,803,863$0$0$9,708,512