Can I retire at age 56 with 945,000?

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 $945,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.1%
1 years$78,037$77,342$76,664$76,002$75,356$74,077
2 years$38,632$37,913$37,215$36,539$35,884$34,599
3 years$25,499$24,776$24,081$23,411$22,766$21,516
4 years$18,934$18,213$17,525$16,866$16,237$15,031
5 years$14,996$14,279$13,600$12,955$12,343$11,184
6 years$12,371$11,660$10,991$10,360$9,767$8,657
7 years$10,497$9,792$9,133$8,518$7,943$6,882
8 years$9,092$8,394$7,746$7,145$6,589$5,578
9 years$8,000$7,308$6,671$6,086$5,549$4,586
10 years$7,127$6,442$5,816$5,246$4,728$3,812
11 years$6,413$5,735$5,121$4,566$4,066$3,197
12 years$5,818$5,147$4,544$4,005$3,524$2,700
13 years$5,316$4,652$4,060$3,536$3,073$2,293
14 years$4,885$4,228$3,648$3,139$2,694$1,956
15 years$4,513$3,863$3,294$2,799$2,372$1,676
16 years$4,187$3,544$2,986$2,506$2,096$1,440
17 years$3,900$3,264$2,717$2,252$1,859$1,241
18 years$3,645$3,016$2,481$2,029$1,653$1,072
19 years$3,417$2,795$2,271$1,834$1,473$928
20 years$3,212$2,597$2,084$1,661$1,316$804
21 years$3,027$2,419$1,917$1,507$1,177$698
22 years$2,859$2,258$1,767$1,370$1,055$607
23 years$2,705$2,112$1,631$1,248$947$528
24 years$2,565$1,979$1,509$1,138$852$460
25 years$2,436$1,857$1,397$1,040$766$401
26 years$2,318$1,745$1,296$951$690$350
27 years$2,208$1,643$1,203$870$622$305
28 years$2,106$1,548$1,119$797$561$267
29 years$2,012$1,460$1,041$731$507$233
30 years$1,924$1,379$970$671$458$204
31 years$1,841$1,304$904$616$414$178
32 years$1,764$1,233$843$566$375$156
33 years$1,692$1,168$788$521$339$136
34 years$1,625$1,107$736$479$307$119
35 years$1,561$1,050$688$441$278$104
36 years$1,501$997$644$406$252$91
37 years$1,444$947$602$374$228$80
38 years$1,391$900$564$345$207$70
39 years$1,340$855$529$318$188$61
40 years$1,292$814$495$293$170$54
41 years$1,246$775$464$271$154$47
42 years$1,203$738$436$250$140$41
43 years$1,162$703$409$231$127$36
44 years$1,123$670$384$213$115$32
45 years$1,085$639$360$197$105$28
46 years$1,050$610$338$182$95$24
47 years$1,016$582$318$168$86$21
48 years$983$555$299$155$78$19
49 years$952$530$281$143$71$16
50 years$923$507$264$132$65$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $945,000, adding $6,616 every year, while hoping to spend $35,086 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: 47/28/25 Blend
55$945,000$945,000$945,000$945,000
56$1,048,214$998,129$983,482$1,089,712
57$1,117,801$1,009,707$979,097$1,131,114
58$1,193,310$1,020,675$973,390$1,172,052
59$1,275,307$1,030,968$966,278$1,215,792
60$1,364,417$1,040,514$957,677$1,262,615
61$1,461,326$1,049,237$947,498$1,312,830
62$1,566,788$1,057,057$935,646$1,366,781
63$1,681,634$1,063,886$922,023$1,424,847
64$1,806,777$1,069,634$906,528$1,487,448
65$1,943,225$1,074,202$889,053$1,555,048
66$2,092,083$1,077,487$869,486$1,628,163
67$2,254,570$1,079,378$847,708$1,707,359
68$2,432,027$1,079,759$823,597$1,793,265
69$2,625,931$1,078,504$797,024$1,886,577
70$2,837,906$1,075,481$767,856$1,988,063
71$3,069,744$1,070,551$735,950$2,098,572
72$3,323,413$1,063,564$701,160$2,219,044
73$3,601,085$1,054,361$663,332$2,350,515
74$3,905,147$1,042,777$622,305$2,494,134
75$4,238,231$1,028,632$577,911$2,651,166
76$4,603,235$1,011,739$529,976$2,823,013
77$5,003,349$991,899$478,314$3,011,221
78$5,442,089$968,900$422,736$3,217,500
79$5,923,324$942,518$363,040$3,443,736
80$6,451,319$912,517$299,017$3,692,015
81$7,030,770$878,647$230,450$3,964,639
82$7,666,849$840,641$157,111$4,264,151
83$8,365,255$798,220$78,762$4,593,359
84$9,132,264$751,086$0$4,955,362
85$9,974,792$698,926$0$5,354,877
86$10,900,455$641,408$0$5,816,893
87$11,917,645$578,181$0$6,324,621
88$13,035,607$508,873$0$6,882,740
89$14,264,526$433,095$0$7,496,409
90$15,615,621$350,430$0$8,171,317
91$17,101,256$260,443$0$8,913,740
92$18,735,050$162,671$0$9,730,594
93$20,532,010$56,626$0$10,629,508
94$22,508,668$0$0$11,618,893
95$24,683,240$0$0$12,725,958
96$27,075,797$0$0$13,963,317
97$29,708,454$0$0$15,324,975
98$32,605,575$0$0$16,823,550
99$35,794,009$0$0$18,472,946
100$39,303,338$0$0$20,288,482