Can I retire at age 56 with 956,000?

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 $956,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.2%
1 years$78,946$78,242$77,556$76,887$76,233$75,531
2 years$39,082$38,354$37,649$36,965$36,301$35,594
3 years$25,796$25,065$24,361$23,684$23,031$22,341
4 years$19,154$18,425$17,729$17,063$16,426$15,757
5 years$15,170$14,446$13,758$13,106$12,487$11,842
6 years$12,515$11,796$11,119$10,481$9,880$9,260
7 years$10,619$9,906$9,240$8,617$8,035$7,440
8 years$9,198$8,491$7,836$7,228$6,666$6,096
9 years$8,093$7,393$6,749$6,157$5,614$5,069
10 years$7,210$6,517$5,884$5,307$4,783$4,263
11 years$6,488$5,802$5,180$4,619$4,114$3,617
12 years$5,886$5,207$4,597$4,052$3,565$3,092
13 years$5,378$4,706$4,107$3,577$3,109$2,659
14 years$4,942$4,277$3,691$3,175$2,725$2,298
15 years$4,565$3,908$3,332$2,832$2,399$1,994
16 years$4,235$3,585$3,021$2,535$2,121$1,736
17 years$3,945$3,302$2,749$2,278$1,880$1,516
18 years$3,687$3,051$2,509$2,053$1,672$1,328
19 years$3,456$2,828$2,297$1,855$1,490$1,165
20 years$3,249$2,628$2,108$1,680$1,331$1,024
21 years$3,062$2,447$1,939$1,525$1,191$902
22 years$2,892$2,285$1,787$1,386$1,068$795
23 years$2,737$2,137$1,650$1,263$958$702
24 years$2,595$2,002$1,526$1,152$861$621
25 years$2,465$1,879$1,414$1,052$775$549
26 years$2,345$1,766$1,311$962$698$486
27 years$2,234$1,662$1,217$880$630$431
28 years$2,131$1,566$1,132$806$568$382
29 years$2,035$1,477$1,053$740$513$339
30 years$1,946$1,395$981$679$463$301
31 years$1,863$1,319$915$623$419$267
32 years$1,785$1,248$853$573$379$238
33 years$1,712$1,182$797$527$343$211
34 years$1,644$1,120$744$485$311$188
35 years$1,579$1,062$696$446$281$167
36 years$1,518$1,008$651$411$255$148
37 years$1,461$958$609$379$231$132
38 years$1,407$910$571$349$209$118
39 years$1,356$865$535$322$190$105
40 years$1,307$823$501$297$172$93
41 years$1,261$784$470$274$156$83
42 years$1,217$746$441$253$142$74
43 years$1,175$711$414$233$129$66
44 years$1,136$678$388$215$117$59
45 years$1,098$646$365$199$106$52
46 years$1,062$617$342$184$96$46
47 years$1,028$589$322$170$87$41
48 years$995$562$302$157$79$37
49 years$963$537$284$145$72$33
50 years$933$513$267$134$65$29

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $956,000, adding $4,933 every year, while hoping to spend $32,251 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: 49/38/13 Blend
55$956,000$956,000$956,000$956,000
56$1,058,600$1,007,932$993,114$1,106,464
57$1,132,263$1,023,006$992,069$1,154,983
58$1,212,358$1,037,738$989,907$1,203,893
59$1,299,508$1,052,076$986,559$1,256,300
60$1,394,397$1,065,967$981,948$1,312,539
61$1,497,778$1,079,353$975,996$1,372,986
62$1,610,481$1,092,170$968,621$1,438,051
63$1,733,417$1,104,353$959,737$1,508,189
64$1,867,590$1,115,832$949,253$1,583,901
65$2,014,106$1,126,529$937,075$1,665,743
66$2,174,182$1,136,366$923,103$1,754,326
67$2,349,156$1,145,256$907,235$1,850,325
68$2,540,504$1,153,107$889,361$1,954,484
69$2,749,849$1,159,823$869,368$2,067,628
70$2,978,978$1,165,299$847,137$2,190,664
71$3,229,862$1,169,426$822,544$2,324,595
72$3,504,666$1,172,087$795,458$2,470,527
73$3,805,780$1,173,157$765,743$2,629,682
74$4,135,832$1,172,504$733,258$2,803,408
75$4,497,717$1,169,987$697,853$2,993,193
76$4,894,626$1,165,458$659,373$3,200,678
77$5,330,072$1,158,759$617,655$3,427,677
78$5,807,922$1,149,722$572,530$3,676,188
79$6,332,441$1,138,168$523,820$3,948,419
80$6,908,321$1,123,910$471,340$4,246,804
81$7,540,736$1,106,748$414,895$4,574,031
82$8,235,381$1,086,469$354,284$4,933,065
83$8,998,533$1,062,849$289,296$5,327,176
84$9,837,106$1,035,651$219,710$5,759,974
85$10,758,716$1,004,623$145,295$6,235,441
86$11,771,754$969,498$65,812$6,757,969
87$12,885,465$929,996$0$7,332,404
88$14,110,034$885,817$0$7,966,730
89$15,456,681$836,646$0$8,674,119
90$16,937,771$782,150$0$9,451,975
91$18,566,924$721,976$0$10,307,514
92$20,359,147$655,750$0$11,248,689
93$22,330,977$583,079$0$12,284,273
94$24,500,633$503,545$0$13,423,937
95$26,888,188$416,709$0$14,678,345
96$29,515,761$322,106$0$16,059,256
97$32,407,723$219,243$0$17,579,632
98$35,590,928$107,604$0$19,253,768
99$39,094,964$0$0$21,097,422
100$42,952,437$0$0$23,133,556