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%19.2%
1 years$79,193$78,488$77,800$77,128$76,472$73,642
2 years$39,205$38,474$37,767$37,081$36,415$33,596
3 years$25,877$25,143$24,438$23,758$23,103$20,383
4 years$19,214$18,483$17,784$17,116$16,477$13,878
5 years$15,218$14,491$13,801$13,147$12,526$10,053
6 years$12,554$11,833$11,154$10,514$9,911$7,567
7 years$10,652$9,937$9,269$8,644$8,061$5,844
8 years$9,227$8,518$7,861$7,251$6,687$4,597
9 years$8,119$7,417$6,770$6,176$5,631$3,665
10 years$7,232$6,537$5,903$5,324$4,798$2,951
11 years$6,508$5,820$5,196$4,634$4,127$2,395
12 years$5,905$5,224$4,612$4,064$3,576$1,956
13 years$5,395$4,721$4,120$3,588$3,118$1,605
14 years$4,958$4,291$3,702$3,185$2,734$1,322
15 years$4,579$3,920$3,342$2,841$2,407$1,093
16 years$4,249$3,596$3,030$2,543$2,127$906
17 years$3,957$3,312$2,758$2,285$1,886$752
18 years$3,698$3,061$2,517$2,059$1,677$626
19 years$3,467$2,836$2,304$1,861$1,495$521
20 years$3,259$2,636$2,115$1,685$1,335$435
21 years$3,071$2,455$1,945$1,530$1,195$363
22 years$2,901$2,292$1,793$1,391$1,071$303
23 years$2,745$2,143$1,655$1,267$961$253
24 years$2,603$2,008$1,531$1,155$864$212
25 years$2,472$1,885$1,418$1,055$778$177
26 years$2,352$1,771$1,315$965$700$149
27 years$2,241$1,667$1,221$883$631$124
28 years$2,137$1,571$1,135$809$570$104
29 years$2,041$1,482$1,056$742$515$87
30 years$1,952$1,399$984$681$465$73
31 years$1,869$1,323$917$625$420$61
32 years$1,791$1,252$856$575$380$51
33 years$1,717$1,185$799$528$344$43
34 years$1,649$1,124$747$486$312$36
35 years$1,584$1,066$698$448$282$30
36 years$1,523$1,011$653$412$256$25
37 years$1,466$961$611$380$232$21
38 years$1,411$913$572$350$210$18
39 years$1,360$868$536$323$190$15
40 years$1,311$826$503$298$173$13
41 years$1,265$786$471$275$157$11
42 years$1,221$749$442$254$142$9
43 years$1,179$713$415$234$129$7
44 years$1,139$680$389$216$117$6
45 years$1,102$649$366$200$106$5
46 years$1,065$619$343$184$97$4
47 years$1,031$590$323$170$88$4
48 years$998$564$303$157$80$3
49 years$966$538$285$145$72$3
50 years$936$514$268$134$66$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $959,000, adding $3,744 every year, while hoping to spend $27,474 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: 56/34/10 Blend
55$959,000$959,000$959,000$959,000
56$1,060,680$1,009,853$994,988$1,117,275
57$1,139,637$1,030,104$999,088$1,176,200
58$1,225,727$1,050,426$1,002,405$1,236,990
59$1,319,649$1,070,794$1,004,883$1,302,544
60$1,422,170$1,091,180$1,006,464$1,373,323
61$1,534,139$1,111,555$1,007,087$1,449,830
62$1,656,485$1,131,886$1,006,689$1,532,623
63$1,790,236$1,152,137$1,005,203$1,622,315
64$1,936,520$1,172,272$1,002,557$1,719,583
65$2,096,581$1,192,249$998,679$1,825,173
66$2,271,788$1,212,026$993,490$1,939,905
67$2,463,649$1,231,553$986,911$2,064,685
68$2,673,824$1,250,782$978,855$2,200,511
69$2,904,142$1,269,659$969,234$2,348,482
70$3,156,617$1,288,124$957,956$2,509,812
71$3,433,465$1,306,115$944,921$2,685,837
72$3,737,131$1,323,567$930,028$2,878,030
73$4,070,304$1,340,408$913,170$3,088,015
74$4,435,949$1,356,562$894,235$3,317,583
75$4,837,329$1,371,947$873,105$3,568,707
76$5,278,041$1,386,476$849,658$3,843,562
77$5,762,045$1,400,058$823,766$4,144,547
78$6,293,706$1,412,593$795,294$4,474,305
79$6,877,830$1,423,976$764,103$4,835,752
80$7,519,713$1,434,095$730,044$5,232,101
81$8,225,188$1,442,830$692,966$5,666,892
82$9,000,684$1,450,056$652,707$6,144,032
83$9,853,281$1,455,636$609,100$6,667,825
84$10,790,781$1,459,427$561,969$7,243,015
85$11,821,778$1,461,276$511,133$7,874,833
86$12,955,743$1,461,022$456,399$8,569,047
87$14,203,108$1,458,492$397,568$9,332,013
88$15,575,370$1,453,503$334,432$10,170,739
89$17,085,195$1,445,861$266,772$11,092,950
90$18,746,537$1,435,360$194,361$12,107,160
91$20,574,773$1,421,783$116,962$13,222,757
92$22,586,847$1,404,897$34,327$14,450,089
93$24,801,426$1,384,457$0$15,800,562
94$27,239,079$1,360,204$0$17,292,496
95$29,922,472$1,331,861$0$18,938,287
96$32,876,579$1,299,137$0$20,749,576
97$36,128,919$1,261,723$0$22,743,234
98$39,709,813$1,219,292$0$24,937,859
99$43,652,674$1,171,497$0$27,353,945
100$47,994,320$1,117,974$0$30,014,083