Can I retire at age 56 with 957,000?

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 $957,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19%
1 years$79,028$78,324$77,637$76,967$76,313$73,546
2 years$39,123$38,394$37,688$37,003$36,339$33,583
3 years$25,823$25,091$24,387$23,708$23,055$20,395
4 years$19,174$18,445$17,747$17,081$16,443$13,900
5 years$15,186$14,461$13,773$13,120$12,500$10,080
6 years$12,528$11,808$11,130$10,492$9,891$7,595
7 years$10,630$9,917$9,249$8,626$8,044$5,873
8 years$9,208$8,500$7,844$7,236$6,673$4,625
9 years$8,102$7,401$6,756$6,164$5,620$3,691
10 years$7,217$6,524$5,890$5,313$4,788$2,977
11 years$6,494$5,808$5,186$4,624$4,118$2,419
12 years$5,892$5,213$4,602$4,056$3,569$1,978
13 years$5,383$4,711$4,112$3,581$3,112$1,626
14 years$4,947$4,282$3,694$3,178$2,728$1,341
15 years$4,570$3,912$3,336$2,835$2,402$1,110
16 years$4,240$3,589$3,024$2,538$2,123$921
17 years$3,949$3,305$2,752$2,280$1,882$766
18 years$3,691$3,054$2,512$2,055$1,674$638
19 years$3,460$2,831$2,300$1,857$1,492$532
20 years$3,253$2,630$2,111$1,682$1,332$445
21 years$3,065$2,450$1,941$1,526$1,192$372
22 years$2,895$2,287$1,789$1,388$1,069$311
23 years$2,740$2,139$1,652$1,264$959$260
24 years$2,598$2,004$1,528$1,153$862$218
25 years$2,467$1,881$1,415$1,053$776$183
26 years$2,347$1,768$1,312$963$699$153
27 years$2,236$1,663$1,219$881$630$129
28 years$2,133$1,568$1,133$807$569$108
29 years$2,037$1,479$1,054$740$513$91
30 years$1,948$1,397$982$679$464$76
31 years$1,865$1,320$916$624$419$64
32 years$1,787$1,249$854$573$379$54
33 years$1,714$1,183$798$527$343$45
34 years$1,645$1,121$745$485$311$38
35 years$1,581$1,063$697$447$282$32
36 years$1,520$1,009$652$411$255$27
37 years$1,463$959$610$379$231$22
38 years$1,408$911$571$349$210$19
39 years$1,357$866$535$322$190$16
40 years$1,308$824$502$297$172$13
41 years$1,262$785$470$274$156$11
42 years$1,218$747$441$253$142$9
43 years$1,177$712$414$234$129$8
44 years$1,137$679$389$216$117$7
45 years$1,099$647$365$199$106$6
46 years$1,063$617$343$184$96$5
47 years$1,029$589$322$170$88$4
48 years$996$562$303$157$79$3
49 years$964$537$284$145$72$3
50 years$934$513$267$134$66$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $957,000, adding $6,022 every year, while hoping to spend $25,959 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: 71/8/21 Blend
55$957,000$957,000$957,000$957,000
56$1,060,826$1,010,105$995,271$1,130,270
57$1,141,410$1,031,980$1,000,993$1,199,219
58$1,229,343$1,054,056$1,006,036$1,271,040
59$1,325,349$1,076,318$1,010,350$1,349,035
60$1,430,221$1,098,744$1,013,884$1,433,816
61$1,544,835$1,121,314$1,016,580$1,526,051
62$1,670,155$1,144,005$1,018,383$1,626,482
63$1,807,242$1,166,792$1,019,229$1,735,922
64$1,957,263$1,189,648$1,019,056$1,855,269
65$2,121,506$1,212,543$1,017,797$1,985,514
66$2,301,387$1,235,444$1,015,380$2,127,747
67$2,498,465$1,258,317$1,011,732$2,283,168
68$2,714,458$1,281,125$1,006,775$2,453,103
69$2,951,260$1,303,827$1,000,428$2,639,011
70$3,210,952$1,326,379$992,607$2,842,500
71$3,495,832$1,348,733$983,221$3,065,343
72$3,808,425$1,370,840$972,178$3,309,493
73$4,151,518$1,392,645$959,380$3,577,103
74$4,528,178$1,414,089$944,724$3,870,547
75$4,941,783$1,435,110$928,102$4,192,439
76$5,396,054$1,455,640$909,404$4,545,662
77$5,895,094$1,475,609$888,511$4,933,392
78$6,443,417$1,494,937$865,299$5,359,131
79$7,046,001$1,513,544$839,642$5,826,736
80$7,708,326$1,531,342$811,404$6,340,462
81$8,436,434$1,548,236$780,444$6,904,994
82$9,236,977$1,564,126$746,616$7,525,499
83$10,117,286$1,578,906$709,765$8,207,671
84$11,085,439$1,592,461$669,731$8,957,784
85$12,150,332$1,604,671$626,346$9,782,754
86$13,321,772$1,615,405$579,434$10,690,204
87$14,610,559$1,624,527$528,812$11,688,534
88$16,028,597$1,631,890$474,288$12,787,003
89$17,588,999$1,637,338$415,662$13,995,816
90$19,306,216$1,640,705$352,725$15,326,219
91$21,196,166$1,641,817$285,258$16,790,607
92$23,276,395$1,640,485$213,034$18,402,641
93$25,566,231$1,636,512$135,814$20,177,376
94$28,086,972$1,629,688$53,350$22,131,406
95$30,862,089$1,619,788$0$24,283,018
96$33,917,440$1,606,575$0$26,660,133
97$37,281,521$1,589,799$0$29,290,459
98$40,985,729$1,569,193$0$32,186,575
99$45,064,664$1,544,474$0$35,375,526
100$49,556,450$1,515,343$0$38,887,116