Can I retire at age 56 with 954,000?

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 $954,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15%
1 years$78,780$78,079$77,394$76,726$76,073$74,507
2 years$39,000$38,274$37,570$36,887$36,225$34,654
3 years$25,742$25,012$24,310$23,634$22,983$21,456
4 years$19,114$18,387$17,692$17,027$16,392$14,921
5 years$15,138$14,415$13,729$13,078$12,461$11,051
6 years$12,489$11,771$11,095$10,459$9,860$8,511
7 years$10,597$9,886$9,220$8,599$8,019$6,732
8 years$9,179$8,474$7,820$7,213$6,652$5,428
9 years$8,076$7,378$6,735$6,144$5,602$4,439
10 years$7,195$6,503$5,872$5,296$4,773$3,670
11 years$6,474$5,789$5,169$4,609$4,105$3,060
12 years$5,874$5,196$4,588$4,043$3,557$2,569
13 years$5,366$4,696$4,099$3,569$3,102$2,169
14 years$4,932$4,268$3,683$3,169$2,719$1,839
15 years$4,556$3,899$3,325$2,826$2,394$1,566
16 years$4,227$3,578$3,015$2,530$2,116$1,337
17 years$3,937$3,295$2,743$2,273$1,876$1,145
18 years$3,679$3,045$2,504$2,049$1,668$982
19 years$3,449$2,822$2,292$1,851$1,487$845
20 years$3,242$2,622$2,104$1,677$1,328$727
21 years$3,055$2,442$1,935$1,522$1,189$627
22 years$2,886$2,280$1,784$1,384$1,065$541
23 years$2,731$2,132$1,647$1,260$956$468
24 years$2,590$1,998$1,523$1,149$860$405
25 years$2,460$1,875$1,411$1,050$774$350
26 years$2,340$1,762$1,308$960$697$303
27 years$2,229$1,658$1,215$878$628$263
28 years$2,126$1,563$1,129$805$567$228
29 years$2,031$1,474$1,051$738$512$198
30 years$1,942$1,392$979$677$462$171
31 years$1,859$1,316$913$622$418$149
32 years$1,781$1,245$852$572$378$129
33 years$1,708$1,179$795$526$342$112
34 years$1,640$1,118$743$484$310$97
35 years$1,576$1,060$695$445$281$85
36 years$1,515$1,006$650$410$254$73
37 years$1,458$956$608$378$230$64
38 years$1,404$908$569$348$209$55
39 years$1,353$864$534$321$189$48
40 years$1,304$822$500$296$172$42
41 years$1,258$782$469$273$156$36
42 years$1,215$745$440$252$141$32
43 years$1,173$710$413$233$128$28
44 years$1,133$677$387$215$117$24
45 years$1,096$645$364$199$106$21
46 years$1,060$615$342$183$96$18
47 years$1,026$587$321$169$87$16
48 years$993$561$302$157$79$14
49 years$961$535$284$145$72$12
50 years$931$511$267$134$65$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $954,000, adding $6,904 every year, while hoping to spend $39,092 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: 65/16/19 Blend
55$954,000$954,000$954,000$954,000
56$1,058,429$1,007,867$993,080$1,121,746
57$1,124,796$1,015,659$984,755$1,172,879
58$1,196,621$1,022,523$974,841$1,223,638
59$1,274,421$1,028,371$963,243$1,278,180
60$1,358,763$1,033,112$949,862$1,336,874
61$1,450,269$1,036,647$934,595$1,400,131
62$1,549,626$1,038,873$917,333$1,468,404
63$1,657,588$1,039,677$897,964$1,542,192
64$1,774,983$1,038,943$876,367$1,622,045
65$1,902,725$1,036,544$852,419$1,708,572
66$2,041,817$1,032,349$825,989$1,802,445
67$2,193,365$1,026,217$796,942$1,904,405
68$2,358,584$1,017,997$765,135$2,015,270
69$2,538,812$1,007,532$730,420$2,135,942
70$2,735,523$994,652$692,641$2,267,419
71$2,950,337$979,181$651,635$2,410,800
72$3,185,040$960,930$607,234$2,567,298
73$3,441,596$939,698$559,258$2,738,253
74$3,722,169$915,273$507,523$2,925,142
75$4,029,141$887,432$451,836$3,129,597
76$4,365,134$855,936$391,993$3,353,416
77$4,733,036$820,536$327,783$3,598,584
78$5,136,029$780,965$258,987$3,867,293
79$5,577,613$736,942$185,372$4,161,958
80$6,061,647$688,169$106,700$4,485,246
81$6,592,378$634,333$22,718$4,840,097
82$7,174,487$575,101$0$5,229,756
83$7,813,125$510,122$0$5,671,367
84$8,513,970$439,024$0$6,161,109
85$9,283,274$361,415$0$6,698,785
86$10,127,925$276,881$0$7,289,258
87$11,055,509$184,985$0$7,937,890
88$12,074,385$85,263$0$8,650,589
89$13,193,760$0$0$9,433,867
90$14,423,776$0$0$10,298,913
91$15,775,608$0$0$11,266,196
92$17,261,566$0$0$12,329,521
93$18,895,212$0$0$13,498,601
94$20,691,488$0$0$14,784,138
95$22,666,857$0$0$16,197,924
96$24,839,456$0$0$17,752,949
97$27,229,269$0$0$19,463,526
98$29,858,312$0$0$21,345,424
99$32,750,844$0$0$23,416,020
100$35,933,596$0$0$25,694,457