Can I retire at age 56 with 963,000?

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 $963,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.5%
1 years$79,524$78,815$78,124$77,450$76,791$73,861
2 years$39,368$38,635$37,924$37,235$36,567$33,650
3 years$25,985$25,248$24,540$23,857$23,200$20,387
4 years$19,294$18,560$17,859$17,188$16,546$13,859
5 years$15,281$14,551$13,859$13,202$12,578$10,024
6 years$12,607$11,882$11,200$10,558$9,953$7,532
7 years$10,697$9,979$9,307$8,680$8,094$5,808
8 years$9,265$8,554$7,893$7,281$6,715$4,560
9 years$8,152$7,447$6,799$6,202$5,655$3,628
10 years$7,263$6,565$5,927$5,346$4,818$2,916
11 years$6,535$5,844$5,218$4,653$4,144$2,362
12 years$5,929$5,245$4,631$4,081$3,591$1,925
13 years$5,417$4,740$4,137$3,603$3,131$1,577
14 years$4,978$4,309$3,718$3,198$2,745$1,296
15 years$4,598$3,936$3,356$2,852$2,417$1,069
16 years$4,266$3,611$3,043$2,554$2,136$884
17 years$3,974$3,326$2,769$2,295$1,894$732
18 years$3,714$3,073$2,528$2,068$1,684$608
19 years$3,482$2,848$2,314$1,869$1,501$505
20 years$3,273$2,647$2,124$1,692$1,341$420
21 years$3,084$2,465$1,953$1,536$1,200$350
22 years$2,913$2,301$1,800$1,397$1,075$292
23 years$2,757$2,152$1,662$1,272$965$243
24 years$2,614$2,017$1,537$1,160$868$203
25 years$2,483$1,893$1,424$1,059$781$170
26 years$2,362$1,779$1,321$969$703$142
27 years$2,250$1,674$1,226$887$634$118
28 years$2,146$1,577$1,140$812$572$99
29 years$2,050$1,488$1,061$745$517$83
30 years$1,960$1,405$988$684$467$69
31 years$1,876$1,328$921$628$422$58
32 years$1,798$1,257$860$577$382$48
33 years$1,725$1,190$803$531$346$40
34 years$1,656$1,128$750$488$313$34
35 years$1,591$1,070$701$449$283$28
36 years$1,529$1,016$656$414$257$24
37 years$1,472$965$614$381$233$20
38 years$1,417$917$575$352$211$17
39 years$1,366$872$539$324$191$14
40 years$1,317$829$505$299$174$12
41 years$1,270$790$473$276$157$10
42 years$1,226$752$444$255$143$8
43 years$1,184$716$417$235$130$7
44 years$1,144$683$391$217$118$6
45 years$1,106$651$367$200$107$5
46 years$1,070$621$345$185$97$4
47 years$1,035$593$324$171$88$3
48 years$1,002$566$305$158$80$3
49 years$971$540$286$146$73$2
50 years$940$516$269$135$66$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $963,000, adding $3,082 every year, while hoping to spend $55,438 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: 61/21/18 Blend
55$963,000$963,000$963,000$963,000
56$1,064,405$1,013,366$998,440$1,124,239
57$1,113,989$1,004,035$972,902$1,155,646
58$1,166,772$992,390$944,650$1,183,453
59$1,223,023$978,256$913,536$1,212,515
60$1,283,034$961,454$879,402$1,242,959
61$1,347,127$941,789$842,086$1,274,930
62$1,415,654$919,056$801,416$1,308,587
63$1,489,001$893,041$757,214$1,344,109
64$1,567,591$863,512$709,293$1,381,695
65$1,651,889$830,228$657,458$1,421,568
66$1,742,405$792,932$601,505$1,463,977
67$1,839,696$751,351$541,222$1,509,197
68$1,944,378$705,200$476,385$1,557,536
69$2,057,124$654,174$406,763$1,609,339
70$2,178,673$597,952$332,113$1,664,987
71$2,309,841$536,194$252,182$1,724,904
72$2,451,519$468,542$166,704$1,789,564
73$2,604,689$394,616$75,404$1,859,491
74$2,770,431$314,016$0$1,935,269
75$2,949,931$226,319$0$2,021,778
76$3,144,493$131,077$0$2,131,236
77$3,355,550$27,819$0$2,250,007
78$3,584,681$0$0$2,379,039
79$3,833,619$0$0$2,538,783
80$4,104,272$0$0$2,719,517
81$4,398,740$0$0$2,916,222
82$4,719,333$0$0$3,130,449
83$5,068,592$0$0$3,363,905
84$5,449,314$0$0$3,618,470
85$5,864,576$0$0$3,896,210
86$6,317,768$0$0$4,199,403
87$6,812,618$0$0$4,530,554
88$7,353,231$0$0$4,892,421
89$7,944,127$0$0$5,288,040
90$8,590,282$0$0$5,720,755
91$9,297,174$0$0$6,194,247
92$10,070,835$0$0$6,712,570
93$10,917,909$0$0$7,280,186
94$11,845,709$0$0$7,902,012
95$12,862,291$0$0$8,583,460
96$13,976,527$0$0$9,330,493
97$15,198,187$0$0$10,149,676
98$16,538,031$0$0$11,048,240
99$18,007,913$0$0$12,034,152
100$19,620,888$0$0$13,116,186