Can I retire at age 56 with 955,000?

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 $955,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.8%
1 years$78,863$78,161$77,475$76,806$76,153$75,578
2 years$39,041$38,314$37,609$36,926$36,263$35,684
3 years$25,769$25,039$24,336$23,659$23,007$22,441
4 years$19,134$18,406$17,710$17,045$16,409$15,860
5 years$15,154$14,431$13,744$13,092$12,474$11,944
6 years$12,502$11,784$11,107$10,470$9,870$9,360
7 years$10,608$9,896$9,230$8,608$8,027$7,537
8 years$9,188$8,483$7,828$7,221$6,659$6,190
9 years$8,085$7,386$6,742$6,151$5,608$5,159
10 years$7,202$6,510$5,878$5,302$4,778$4,349
11 years$6,481$5,796$5,175$4,614$4,109$3,699
12 years$5,880$5,202$4,592$4,047$3,561$3,170
13 years$5,372$4,701$4,103$3,573$3,105$2,733
14 years$4,937$4,273$3,687$3,172$2,722$2,368
15 years$4,560$3,903$3,329$2,829$2,397$2,060
16 years$4,231$3,581$3,018$2,533$2,118$1,799
17 years$3,941$3,298$2,746$2,276$1,878$1,576
18 years$3,683$3,048$2,507$2,051$1,670$1,383
19 years$3,453$2,825$2,295$1,853$1,489$1,217
20 years$3,246$2,625$2,106$1,678$1,330$1,074
21 years$3,059$2,445$1,937$1,523$1,190$948
22 years$2,889$2,282$1,785$1,385$1,067$839
23 years$2,734$2,134$1,649$1,261$957$743
24 years$2,592$2,000$1,525$1,150$861$659
25 years$2,462$1,877$1,412$1,051$774$585
26 years$2,342$1,764$1,310$961$697$519
27 years$2,231$1,660$1,216$879$629$462
28 years$2,128$1,564$1,131$806$567$411
29 years$2,033$1,476$1,052$739$512$366
30 years$1,944$1,394$980$678$463$326
31 years$1,861$1,317$914$623$419$290
32 years$1,783$1,247$852$572$379$259
33 years$1,710$1,181$796$526$343$231
34 years$1,642$1,119$744$484$310$206
35 years$1,577$1,061$695$446$281$184
36 years$1,517$1,007$650$411$255$164
37 years$1,460$957$609$378$231$146
38 years$1,405$909$570$349$209$131
39 years$1,354$865$534$321$190$117
40 years$1,306$823$501$296$172$104
41 years$1,260$783$469$274$156$93
42 years$1,216$746$440$252$142$83
43 years$1,174$710$413$233$129$74
44 years$1,135$677$388$215$117$66
45 years$1,097$646$364$199$106$59
46 years$1,061$616$342$184$96$53
47 years$1,027$588$321$170$87$47
48 years$994$561$302$157$79$42
49 years$962$536$284$145$72$38
50 years$932$512$267$134$65$34

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $955,000, adding $2,724 every year, while hoping to spend $50,559 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: 60/20/20 Blend
55$955,000$955,000$955,000$955,000
56$1,055,220$1,004,605$989,802$1,112,851
57$1,109,058$1,000,036$969,166$1,147,623
58$1,166,693$993,549$946,144$1,179,743
59$1,228,459$984,996$920,603$1,213,645
60$1,294,722$974,221$892,404$1,249,509
61$1,365,884$961,058$861,400$1,287,536
62$1,442,386$945,332$827,439$1,327,949
63$1,524,713$926,857$790,362$1,370,997
64$1,613,396$905,435$750,001$1,416,956
65$1,709,019$880,859$706,183$1,466,132
66$1,812,224$852,906$658,725$1,518,866
67$1,923,716$821,343$607,438$1,575,536
68$2,044,270$785,923$552,121$1,636,561
69$2,174,736$746,385$492,568$1,702,405
70$2,316,052$702,450$428,562$1,773,586
71$2,469,245$653,826$359,875$1,850,676
72$2,635,449$600,204$286,271$1,934,310
73$2,815,907$541,257$207,503$2,025,190
74$3,011,988$476,637$123,314$2,124,096
75$3,225,199$405,980$33,433$2,231,892
76$3,457,196$328,900$0$2,349,534
77$3,709,802$244,988$0$2,491,416
78$3,985,023$153,814$0$2,653,857
79$4,285,066$54,922$0$2,831,079
80$4,612,362$0$0$3,024,587
81$4,969,583$0$0$3,247,523
82$5,359,674$0$0$3,504,242
83$5,785,874$0$0$3,784,799
84$6,251,752$0$0$4,091,552
85$6,761,234$0$0$4,427,095
86$7,318,646$0$0$4,794,288
87$7,928,748$0$0$5,196,276
88$8,596,784$0$0$5,636,525
89$9,328,527$0$0$6,118,853
90$10,130,337$0$0$6,647,461
91$11,009,216$0$0$7,226,978
92$11,972,877$0$0$7,862,502
93$13,029,813$0$0$8,559,649
94$14,189,382$0$0$9,324,602
95$15,461,888$0$0$10,164,175
96$16,858,684$0$0$11,085,870
97$18,392,272$0$0$12,097,955
98$20,076,428$0$0$13,209,533
99$21,926,324$0$0$14,430,637
100$23,958,676$0$0$15,772,316