Can I retire at age 56 with 952,000?

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 $952,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.7%
1 years$78,615$77,915$77,232$76,565$75,914$73,839
2 years$38,918$38,194$37,491$36,810$36,149$34,074
3 years$25,688$24,960$24,259$23,585$22,935$20,924
4 years$19,074$18,348$17,655$16,991$16,357$14,427
5 years$15,107$14,385$13,701$13,051$12,434$10,589
6 years$12,463$11,747$11,072$10,437$9,839$8,081
7 years$10,575$9,865$9,201$8,581$8,002$6,331
8 years$9,159$8,456$7,803$7,198$6,638$5,054
9 years$8,059$7,362$6,721$6,131$5,590$4,091
10 years$7,180$6,490$5,859$5,285$4,763$3,346
11 years$6,460$5,777$5,159$4,600$4,097$2,760
12 years$5,862$5,185$4,578$4,035$3,550$2,292
13 years$5,355$4,686$4,090$3,562$3,096$1,913
14 years$4,921$4,260$3,675$3,162$2,714$1,604
15 years$4,546$3,891$3,318$2,820$2,389$1,349
16 years$4,218$3,570$3,008$2,525$2,112$1,138
17 years$3,928$3,288$2,737$2,269$1,872$963
18 years$3,671$3,038$2,499$2,044$1,665$816
19 years$3,442$2,816$2,288$1,847$1,484$692
20 years$3,236$2,617$2,100$1,673$1,325$589
21 years$3,049$2,437$1,931$1,518$1,186$501
22 years$2,880$2,275$1,780$1,381$1,063$427
23 years$2,725$2,128$1,643$1,257$954$364
24 years$2,584$1,994$1,520$1,147$858$311
25 years$2,454$1,871$1,408$1,047$772$265
26 years$2,335$1,758$1,306$958$695$226
27 years$2,224$1,655$1,212$877$627$194
28 years$2,122$1,559$1,127$803$566$166
29 years$2,027$1,471$1,049$736$511$142
30 years$1,938$1,389$977$676$461$121
31 years$1,855$1,313$911$621$417$104
32 years$1,778$1,243$850$570$377$89
33 years$1,705$1,177$793$525$342$76
34 years$1,637$1,115$741$483$309$65
35 years$1,572$1,058$693$444$280$56
36 years$1,512$1,004$648$409$254$48
37 years$1,455$954$607$377$230$41
38 years$1,401$906$568$348$209$35
39 years$1,350$862$532$320$189$30
40 years$1,302$820$499$296$172$26
41 years$1,256$781$468$273$156$22
42 years$1,212$743$439$252$141$19
43 years$1,171$708$412$232$128$16
44 years$1,131$675$387$214$116$14
45 years$1,094$644$363$198$106$12
46 years$1,058$614$341$183$96$10
47 years$1,023$586$320$169$87$9
48 years$991$559$301$156$79$7
49 years$959$534$283$144$72$6
50 years$929$510$266$133$65$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $952,000, adding $6,870 every year, while hoping to spend $44,477 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: 45/39/16 Blend
55$952,000$952,000$952,000$952,000
56$1,056,190$1,005,734$990,978$1,098,590
57$1,116,599$1,007,692$976,853$1,130,841
58$1,181,678$1,008,255$960,764$1,160,788
59$1,251,857$1,007,308$942,598$1,192,307
60$1,327,609$1,004,729$922,237$1,225,562
61$1,409,452$1,000,387$899,559$1,260,736
62$1,497,955$994,145$874,433$1,298,035
63$1,593,744$985,856$846,724$1,337,687
64$1,697,509$975,365$816,292$1,379,946
65$1,810,005$962,509$782,988$1,425,096
66$1,932,066$947,112$746,658$1,473,454
67$2,064,606$928,989$707,141$1,525,371
68$2,208,632$907,946$664,266$1,581,238
69$2,365,252$883,776$617,859$1,641,491
70$2,535,685$856,258$567,735$1,706,614
71$2,721,271$825,160$513,700$1,777,146
72$2,923,486$790,238$455,554$1,853,684
73$3,143,952$751,231$393,086$1,936,893
74$3,384,458$707,864$326,077$2,027,509
75$3,646,970$659,847$254,298$2,126,353
76$3,933,653$606,871$177,509$2,234,332
77$4,246,891$548,613$95,460$2,352,454
78$4,589,307$484,728$7,891$2,481,837
79$4,963,790$414,854$0$2,623,719
80$5,373,521$338,606$0$2,794,083
81$5,822,003$255,580$0$2,982,229
82$6,313,092$165,348$0$3,188,547
83$6,851,035$67,458$0$3,414,958
84$7,440,510$0$0$3,663,585
85$8,086,667$0$0$3,953,328
86$8,795,179$0$0$4,302,889
87$9,572,296$0$0$4,686,414
88$10,424,899$0$0$5,107,314
89$11,360,568$0$0$5,569,347
90$12,387,655$0$0$6,076,652
91$13,515,355$0$0$6,633,788
92$14,753,803$0$0$7,245,777
93$16,114,158$0$0$7,918,152
94$17,608,716$0$0$8,657,008
95$19,251,023$0$0$9,469,061
96$21,056,002$0$0$10,361,708
97$23,040,092$0$0$11,343,099
98$25,221,404$0$0$12,422,214
99$27,619,894$0$0$13,608,945
100$30,257,546$0$0$14,914,192