Can I retire at age 56 with 952,000?

Use the below retirement simulation to view the chances of a successful retirement.
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%14.7%
1 years$78,615$77,915$77,232$76,565$75,914$74,442
2 years$38,918$38,194$37,491$36,810$36,149$34,673
3 years$25,688$24,960$24,259$23,585$22,935$21,499
4 years$19,074$18,348$17,655$16,991$16,357$14,973
5 years$15,107$14,385$13,701$13,051$12,434$11,107
6 years$12,463$11,747$11,072$10,437$9,839$8,569
7 years$10,575$9,865$9,201$8,581$8,002$6,789
8 years$9,159$8,456$7,803$7,198$6,638$5,483
9 years$8,059$7,362$6,721$6,131$5,590$4,492
10 years$7,180$6,490$5,859$5,285$4,763$3,721
11 years$6,460$5,777$5,159$4,600$4,097$3,108
12 years$5,862$5,185$4,578$4,035$3,550$2,615
13 years$5,355$4,686$4,090$3,562$3,096$2,212
14 years$4,921$4,260$3,675$3,162$2,714$1,880
15 years$4,546$3,891$3,318$2,820$2,389$1,604
16 years$4,218$3,570$3,008$2,525$2,112$1,372
17 years$3,928$3,288$2,737$2,269$1,872$1,177
18 years$3,671$3,038$2,499$2,044$1,665$1,013
19 years$3,442$2,816$2,288$1,847$1,484$872
20 years$3,236$2,617$2,100$1,673$1,325$753
21 years$3,049$2,437$1,931$1,518$1,186$651
22 years$2,880$2,275$1,780$1,381$1,063$563
23 years$2,725$2,128$1,643$1,257$954$488
24 years$2,584$1,994$1,520$1,147$858$423
25 years$2,454$1,871$1,408$1,047$772$367
26 years$2,335$1,758$1,306$958$695$318
27 years$2,224$1,655$1,212$877$627$277
28 years$2,122$1,559$1,127$803$566$240
29 years$2,027$1,471$1,049$736$511$209
30 years$1,938$1,389$977$676$461$182
31 years$1,855$1,313$911$621$417$158
32 years$1,778$1,243$850$570$377$138
33 years$1,705$1,177$793$525$342$120
34 years$1,637$1,115$741$483$309$104
35 years$1,572$1,058$693$444$280$91
36 years$1,512$1,004$648$409$254$79
37 years$1,455$954$607$377$230$69
38 years$1,401$906$568$348$209$60
39 years$1,350$862$532$320$189$52
40 years$1,302$820$499$296$172$46
41 years$1,256$781$468$273$156$40
42 years$1,212$743$439$252$141$35
43 years$1,171$708$412$232$128$30
44 years$1,131$675$387$214$116$26
45 years$1,094$644$363$198$106$23
46 years$1,058$614$341$183$96$20
47 years$1,023$586$320$169$87$17
48 years$991$559$301$156$79$15
49 years$959$534$283$144$72$13
50 years$929$510$266$133$65$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $952,000, adding $5,262 every year, while hoping to spend $31,514 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: 31/42/27 Blend
55$952,000$952,000$952,000$952,000
56$1,054,532$1,004,076$989,320$1,078,357
57$1,128,563$1,019,745$988,931$1,112,829
58$1,209,090$1,035,125$987,474$1,146,773
59$1,296,741$1,050,170$984,878$1,182,687
60$1,392,208$1,064,828$981,071$1,220,765
61$1,496,254$1,079,046$975,977$1,261,223
62$1,609,717$1,092,764$969,518$1,304,298
63$1,733,519$1,105,921$961,608$1,350,257
64$1,868,678$1,118,450$952,161$1,399,392
65$2,016,310$1,130,281$941,085$1,452,028
66$2,177,647$1,141,338$928,285$1,508,527
67$2,354,044$1,151,541$913,660$1,569,287
68$2,546,993$1,160,803$897,104$1,634,751
69$2,758,138$1,169,034$878,508$1,705,411
70$2,989,286$1,176,135$857,757$1,781,808
71$3,242,431$1,182,004$834,730$1,864,544
72$3,519,767$1,186,529$809,301$1,954,285
73$3,823,709$1,189,595$781,338$2,051,769
74$4,156,918$1,191,076$750,703$2,157,810
75$4,522,325$1,190,840$717,253$2,273,312
76$4,923,157$1,188,746$680,837$2,399,273
77$5,362,971$1,184,646$641,296$2,536,799
78$5,845,681$1,178,381$598,467$2,687,111
79$6,375,602$1,169,784$552,177$2,851,562
80$6,957,485$1,158,675$502,247$3,031,646
81$7,596,565$1,144,866$448,489$3,229,015
82$8,298,608$1,128,158$390,706$3,445,498
83$9,069,966$1,108,337$328,695$3,683,113
84$9,917,636$1,085,180$262,240$3,944,093
85$10,849,329$1,058,447$191,119$4,230,903
86$11,873,537$1,027,888$115,098$4,546,270
87$12,999,618$993,235$33,934$4,893,205
88$14,237,882$954,206$0$5,275,035
89$15,599,686$910,502$0$5,710,611
90$17,097,544$861,807$0$6,200,235
91$18,745,244$807,786$0$6,738,682
92$20,557,979$748,087$0$7,330,986
93$22,552,484$682,335$0$7,982,698
94$24,747,204$610,136$0$8,699,946
95$27,162,457$531,071$0$9,489,486
96$29,820,634$444,700$0$10,358,771
97$32,746,405$350,556$0$11,316,024
98$35,966,952$248,147$0$12,370,313
99$39,512,228$136,953$0$13,531,640
100$43,415,236$16,425$0$14,811,037