Can I retire at age 56 with 959,000?

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 $959,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.8%
1 years$79,193$78,488$77,800$77,128$76,472$74,959
2 years$39,205$38,474$37,767$37,081$36,415$34,897
3 years$25,877$25,143$24,438$23,758$23,103$21,627
4 years$19,214$18,483$17,784$17,116$16,477$15,055
5 years$15,218$14,491$13,801$13,147$12,526$11,162
6 years$12,554$11,833$11,154$10,514$9,911$8,606
7 years$10,652$9,937$9,269$8,644$8,061$6,815
8 years$9,227$8,518$7,861$7,251$6,687$5,501
9 years$8,119$7,417$6,770$6,176$5,631$4,504
10 years$7,232$6,537$5,903$5,324$4,798$3,728
11 years$6,508$5,820$5,196$4,634$4,127$3,113
12 years$5,905$5,224$4,612$4,064$3,576$2,617
13 years$5,395$4,721$4,120$3,588$3,118$2,212
14 years$4,958$4,291$3,702$3,185$2,734$1,879
15 years$4,579$3,920$3,342$2,841$2,407$1,601
16 years$4,249$3,596$3,030$2,543$2,127$1,370
17 years$3,957$3,312$2,758$2,285$1,886$1,174
18 years$3,698$3,061$2,517$2,059$1,677$1,009
19 years$3,467$2,836$2,304$1,861$1,495$869
20 years$3,259$2,636$2,115$1,685$1,335$749
21 years$3,071$2,455$1,945$1,530$1,195$647
22 years$2,901$2,292$1,793$1,391$1,071$559
23 years$2,745$2,143$1,655$1,267$961$484
24 years$2,603$2,008$1,531$1,155$864$419
25 years$2,472$1,885$1,418$1,055$778$364
26 years$2,352$1,771$1,315$965$700$315
27 years$2,241$1,667$1,221$883$631$274
28 years$2,137$1,571$1,135$809$570$238
29 years$2,041$1,482$1,056$742$515$206
30 years$1,952$1,399$984$681$465$179
31 years$1,869$1,323$917$625$420$156
32 years$1,791$1,252$856$575$380$136
33 years$1,717$1,185$799$528$344$118
34 years$1,649$1,124$747$486$312$103
35 years$1,584$1,066$698$448$282$89
36 years$1,523$1,011$653$412$256$78
37 years$1,466$961$611$380$232$68
38 years$1,411$913$572$350$210$59
39 years$1,360$868$536$323$190$51
40 years$1,311$826$503$298$173$45
41 years$1,265$786$471$275$157$39
42 years$1,221$749$442$254$142$34
43 years$1,179$713$415$234$129$29
44 years$1,139$680$389$216$117$26
45 years$1,102$649$366$200$106$22
46 years$1,065$619$343$184$97$19
47 years$1,031$590$323$170$88$17
48 years$998$564$303$157$80$15
49 years$966$538$285$145$72$13
50 years$936$514$268$134$66$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $959,000, adding $4,072 every year, while hoping to spend $43,671 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: 46/44/10 Blend
55$959,000$959,000$959,000$959,000
56$1,061,018$1,010,191$995,327$1,106,681
57$1,122,777$1,013,225$982,205$1,141,670
58$1,189,370$1,014,944$967,179$1,174,774
59$1,261,247$1,015,237$950,141$1,209,692
60$1,338,898$1,013,987$930,974$1,246,609
61$1,422,863$1,011,070$909,559$1,285,728
62$1,513,735$1,006,353$885,769$1,327,276
63$1,612,167$999,695$859,474$1,371,506
64$1,718,876$990,948$830,534$1,418,697
65$1,834,651$979,954$798,806$1,469,163
66$1,960,359$966,545$764,140$1,523,250
67$2,096,955$950,545$726,378$1,581,344
68$2,245,487$931,764$685,354$1,643,873
69$2,407,111$910,005$640,898$1,711,314
70$2,583,096$885,056$592,828$1,784,193
71$2,774,842$856,693$540,958$1,863,099
72$2,983,887$824,682$485,090$1,948,681
73$3,211,923$788,771$425,021$2,041,661
74$3,460,815$748,696$360,535$2,142,841
75$3,732,614$704,179$291,409$2,253,107
76$4,029,578$654,921$217,409$2,373,445
77$4,354,195$600,612$138,291$2,504,945
78$4,709,201$540,920$53,802$2,648,817
79$5,097,610$475,495$0$2,806,399
80$5,522,741$403,969$0$2,983,055
81$5,988,248$325,952$0$3,182,926
82$6,498,156$241,030$0$3,402,115
83$7,056,896$148,769$0$3,642,667
84$7,669,350$48,709$0$3,906,845
85$8,340,893$0$0$4,197,150
86$9,077,444$0$0$4,545,219
87$9,885,526$0$0$4,953,078
88$10,772,322$0$0$5,400,782
89$11,745,742$0$0$5,892,341
90$12,814,502$0$0$6,432,170
91$13,988,203$0$0$7,025,134
92$15,277,420$0$0$7,676,592
93$16,693,803$0$0$8,392,448
94$18,250,187$0$0$9,179,206
95$19,960,712$0$0$10,044,031
96$21,840,953$0$0$10,994,818
97$23,908,073$0$0$12,040,263
98$26,180,978$0$0$13,189,949
99$28,680,499$0$0$14,454,433
100$31,429,588$0$0$15,845,345