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%19.6%
1 years$79,193$78,488$77,800$77,128$76,472$73,525
2 years$39,205$38,474$37,767$37,081$36,415$33,481
3 years$25,877$25,143$24,438$23,758$23,103$20,275
4 years$19,214$18,483$17,784$17,116$16,477$13,776
5 years$15,218$14,491$13,801$13,147$12,526$9,958
6 years$12,554$11,833$11,154$10,514$9,911$7,479
7 years$10,652$9,937$9,269$8,644$8,061$5,763
8 years$9,227$8,518$7,861$7,251$6,687$4,523
9 years$8,119$7,417$6,770$6,176$5,631$3,596
10 years$7,232$6,537$5,903$5,324$4,798$2,889
11 years$6,508$5,820$5,196$4,634$4,127$2,339
12 years$5,905$5,224$4,612$4,064$3,576$1,905
13 years$5,395$4,721$4,120$3,588$3,118$1,559
14 years$4,958$4,291$3,702$3,185$2,734$1,281
15 years$4,579$3,920$3,342$2,841$2,407$1,055
16 years$4,249$3,596$3,030$2,543$2,127$872
17 years$3,957$3,312$2,758$2,285$1,886$722
18 years$3,698$3,061$2,517$2,059$1,677$599
19 years$3,467$2,836$2,304$1,861$1,495$497
20 years$3,259$2,636$2,115$1,685$1,335$413
21 years$3,071$2,455$1,945$1,530$1,195$344
22 years$2,901$2,292$1,793$1,391$1,071$287
23 years$2,745$2,143$1,655$1,267$961$239
24 years$2,603$2,008$1,531$1,155$864$199
25 years$2,472$1,885$1,418$1,055$778$166
26 years$2,352$1,771$1,315$965$700$139
27 years$2,241$1,667$1,221$883$631$116
28 years$2,137$1,571$1,135$809$570$97
29 years$2,041$1,482$1,056$742$515$81
30 years$1,952$1,399$984$681$465$67
31 years$1,869$1,323$917$625$420$56
32 years$1,791$1,252$856$575$380$47
33 years$1,717$1,185$799$528$344$39
34 years$1,649$1,124$747$486$312$33
35 years$1,584$1,066$698$448$282$27
36 years$1,523$1,011$653$412$256$23
37 years$1,466$961$611$380$232$19
38 years$1,411$913$572$350$210$16
39 years$1,360$868$536$323$190$13
40 years$1,311$826$503$298$173$11
41 years$1,265$786$471$275$157$9
42 years$1,221$749$442$254$142$8
43 years$1,179$713$415$234$129$7
44 years$1,139$680$389$216$117$5
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$3
48 years$998$564$303$157$80$3
49 years$966$538$285$145$72$2
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 $4,951 every year, while hoping to spend $51,031 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: 38/32/30 Blend
55$959,000$959,000$959,000$959,000
56$1,061,925$1,011,098$996,233$1,092,650
57$1,115,945$1,006,345$975,311$1,111,020
58$1,173,764$999,649$951,977$1,125,860
59$1,235,717$990,861$926,097$1,140,943
60$1,302,169$979,822$897,530$1,156,325
61$1,373,522$966,365$866,129$1,172,073
62$1,450,217$950,313$831,740$1,188,264
63$1,532,738$931,477$794,202$1,204,988
64$1,621,616$909,657$753,346$1,222,347
65$1,717,434$884,644$708,996$1,240,462
66$1,820,833$856,213$660,969$1,259,468
67$1,932,518$824,127$609,072$1,279,522
68$2,053,263$788,138$553,104$1,300,802
69$2,183,918$747,979$492,855$1,323,509
70$2,325,419$703,370$428,107$1,347,875
71$2,478,793$654,017$358,629$1,374,158
72$2,645,170$599,604$284,184$1,402,654
73$2,825,795$539,802$204,522$1,433,694
74$3,022,034$474,261$119,381$1,467,654
75$3,235,392$402,610$28,491$1,504,954
76$3,467,524$324,459$0$1,546,069
77$3,720,249$239,396$0$1,613,460
78$3,995,572$146,984$0$1,696,952
79$4,295,698$46,764$0$1,788,186
80$4,623,053$0$0$1,888,011
81$4,980,308$0$0$2,019,120
82$5,370,402$0$0$2,180,383
83$5,796,572$0$0$2,356,687
84$6,262,381$0$0$2,549,523
85$6,771,750$0$0$2,760,530
86$7,329,000$0$0$2,991,514
87$7,938,885$0$0$3,244,466
88$8,606,641$0$0$3,521,575
89$9,338,035$0$0$3,825,254
90$10,139,417$0$0$4,158,158
91$11,017,781$0$0$4,523,215
92$11,980,828$0$0$4,923,647
93$13,037,041$0$0$5,363,004
94$14,195,765$0$0$5,845,195
95$15,467,291$0$0$6,374,527
96$16,862,954$0$0$6,955,745
97$18,395,242$0$0$7,594,073
98$20,077,909$0$0$8,295,270
99$21,926,109$0$0$9,065,676
100$23,956,533$0$0$9,912,280