Can I retire at age 56 with 949,000?

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 $949,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.8%
1 years$78,368$77,669$76,988$76,324$75,675$74,177
2 years$38,796$38,073$37,373$36,694$36,036$34,533
3 years$25,607$24,881$24,183$23,510$22,862$21,402
4 years$19,014$18,290$17,599$16,938$16,306$14,898
5 years$15,059$14,340$13,657$13,010$12,395$11,045
6 years$12,423$11,710$11,037$10,404$9,808$8,517
7 years$10,541$9,834$9,172$8,554$7,977$6,744
8 years$9,131$8,429$7,779$7,176$6,617$5,444
9 years$8,034$7,339$6,700$6,112$5,573$4,457
10 years$7,157$6,469$5,841$5,269$4,748$3,689
11 years$6,440$5,759$5,142$4,585$4,084$3,080
12 years$5,843$5,169$4,564$4,022$3,539$2,589
13 years$5,338$4,671$4,077$3,551$3,086$2,189
14 years$4,906$4,246$3,663$3,152$2,705$1,859
15 years$4,532$3,879$3,308$2,811$2,382$1,585
16 years$4,204$3,559$2,999$2,517$2,105$1,355
17 years$3,916$3,278$2,729$2,261$1,866$1,162
18 years$3,660$3,029$2,491$2,038$1,660$999
19 years$3,431$2,807$2,280$1,842$1,479$860
20 years$3,225$2,608$2,093$1,668$1,321$741
21 years$3,039$2,430$1,925$1,514$1,182$640
22 years$2,871$2,268$1,774$1,376$1,060$554
23 years$2,717$2,121$1,638$1,253$951$479
24 years$2,576$1,987$1,515$1,143$855$415
25 years$2,447$1,865$1,403$1,044$769$360
26 years$2,327$1,753$1,301$955$693$312
27 years$2,217$1,650$1,209$874$625$271
28 years$2,115$1,554$1,123$801$564$235
29 years$2,020$1,466$1,045$734$509$204
30 years$1,932$1,385$974$674$460$178
31 years$1,849$1,309$908$619$416$154
32 years$1,772$1,239$847$569$376$134
33 years$1,700$1,173$791$523$340$117
34 years$1,632$1,112$739$481$308$102
35 years$1,568$1,055$691$443$279$88
36 years$1,507$1,001$646$408$253$77
37 years$1,450$951$605$376$229$67
38 years$1,397$903$566$346$208$58
39 years$1,346$859$531$319$189$51
40 years$1,297$817$497$295$171$44
41 years$1,252$778$466$272$155$38
42 years$1,208$741$438$251$141$33
43 years$1,167$706$411$232$128$29
44 years$1,128$673$385$214$116$25
45 years$1,090$642$362$197$105$22
46 years$1,054$612$340$182$96$19
47 years$1,020$584$319$169$87$17
48 years$988$558$300$156$79$15
49 years$956$533$282$144$72$13
50 years$927$509$265$133$65$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $949,000, adding $3,246 every year, while hoping to spend $47,311 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: 49/26/25 Blend
55$949,000$949,000$949,000$949,000
56$1,049,146$998,849$984,140$1,092,983
57$1,105,821$997,454$966,770$1,122,535
58$1,166,690$994,405$947,232$1,149,636
59$1,232,133$989,571$925,405$1,178,132
60$1,302,563$982,813$901,159$1,208,175
61$1,378,438$973,984$874,361$1,239,938
62$1,460,256$962,927$844,869$1,273,610
63$1,548,568$949,476$812,539$1,309,406
64$1,643,978$933,457$777,215$1,347,566
65$1,747,150$914,682$738,737$1,388,354
66$1,858,813$892,955$696,939$1,432,069
67$1,979,769$868,068$651,644$1,479,041
68$2,110,901$839,798$602,669$1,529,639
69$2,253,178$807,913$549,823$1,584,274
70$2,407,666$772,165$492,907$1,643,403
71$2,575,539$732,293$431,711$1,707,533
72$2,758,088$688,019$366,016$1,777,231
73$2,956,731$639,050$295,596$1,853,123
74$3,173,032$585,078$220,213$1,935,909
75$3,408,709$525,774$139,617$2,026,362
76$3,665,653$460,793$53,551$2,125,344
77$3,945,948$389,770$0$2,233,809
78$4,251,884$312,318$0$2,363,032
79$4,585,984$228,030$0$2,519,881
80$4,951,026$136,475$0$2,691,438
81$5,350,065$37,197$0$2,879,228
82$5,786,469$0$0$3,084,938
83$6,263,943$0$0$3,330,539
84$6,786,568$0$0$3,611,112
85$7,358,837$0$0$3,918,441
86$7,985,699$0$0$4,255,195
87$8,672,603$0$0$4,624,317
88$9,425,551$0$0$5,029,044
89$10,251,152$0$0$5,472,944
90$11,156,687$0$0$5,959,947
91$12,150,173$0$0$6,494,380
92$13,240,444$0$0$7,081,010
93$14,437,227$0$0$7,725,089
94$15,751,239$0$0$8,432,402
95$17,194,285$0$0$9,209,320
96$18,779,369$0$0$10,062,863
97$20,520,816$0$0$11,000,765
98$22,434,408$0$0$12,031,544
99$24,537,532$0$0$13,164,587
100$26,849,341$0$0$14,410,234