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%17.8%
1 years$79,524$78,815$78,124$77,450$76,791$74,363
2 years$39,368$38,635$37,924$37,235$36,567$34,143
3 years$25,985$25,248$24,540$23,857$23,200$20,855
4 years$19,294$18,560$17,859$17,188$16,546$14,299
5 years$15,281$14,551$13,859$13,202$12,578$10,435
6 years$12,607$11,882$11,200$10,558$9,953$7,916
7 years$10,697$9,979$9,307$8,680$8,094$6,163
8 years$9,265$8,554$7,893$7,281$6,715$4,888
9 years$8,152$7,447$6,799$6,202$5,655$3,930
10 years$7,263$6,565$5,927$5,346$4,818$3,193
11 years$6,535$5,844$5,218$4,653$4,144$2,615
12 years$5,929$5,245$4,631$4,081$3,591$2,156
13 years$5,417$4,740$4,137$3,603$3,131$1,786
14 years$4,978$4,309$3,718$3,198$2,745$1,486
15 years$4,598$3,936$3,356$2,852$2,417$1,240
16 years$4,266$3,611$3,043$2,554$2,136$1,038
17 years$3,974$3,326$2,769$2,295$1,894$871
18 years$3,714$3,073$2,528$2,068$1,684$732
19 years$3,482$2,848$2,314$1,869$1,501$616
20 years$3,273$2,647$2,124$1,692$1,341$520
21 years$3,084$2,465$1,953$1,536$1,200$438
22 years$2,913$2,301$1,800$1,397$1,075$370
23 years$2,757$2,152$1,662$1,272$965$313
24 years$2,614$2,017$1,537$1,160$868$265
25 years$2,483$1,893$1,424$1,059$781$224
26 years$2,362$1,779$1,321$969$703$190
27 years$2,250$1,674$1,226$887$634$161
28 years$2,146$1,577$1,140$812$572$136
29 years$2,050$1,488$1,061$745$517$115
30 years$1,960$1,405$988$684$467$98
31 years$1,876$1,328$921$628$422$83
32 years$1,798$1,257$860$577$382$70
33 years$1,725$1,190$803$531$346$60
34 years$1,656$1,128$750$488$313$51
35 years$1,591$1,070$701$449$283$43
36 years$1,529$1,016$656$414$257$36
37 years$1,472$965$614$381$233$31
38 years$1,417$917$575$352$211$26
39 years$1,366$872$539$324$191$22
40 years$1,317$829$505$299$174$19
41 years$1,270$790$473$276$157$16
42 years$1,226$752$444$255$143$14
43 years$1,184$716$417$235$130$12
44 years$1,144$683$391$217$118$10
45 years$1,106$651$367$200$107$8
46 years$1,070$621$345$185$97$7
47 years$1,035$593$324$171$88$6
48 years$1,002$566$305$158$80$5
49 years$971$540$286$146$73$4
50 years$940$516$269$135$66$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $963,000, adding $5,197 every year, while hoping to spend $37,931 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: 81/14/5 Blend
55$963,000$963,000$963,000$963,000
56$1,066,587$1,015,548$1,000,621$1,152,418
57$1,135,020$1,024,951$993,784$1,218,699
58$1,209,163$1,033,544$985,446$1,285,827
59$1,289,556$1,041,247$975,517$1,358,326
60$1,376,798$1,047,975$963,904$1,436,710
61$1,471,542$1,053,637$950,506$1,521,547
62$1,574,512$1,058,137$935,220$1,613,462
63$1,686,499$1,061,373$917,937$1,713,142
64$1,808,378$1,063,236$898,544$1,821,345
65$1,941,110$1,063,612$876,922$1,938,905
66$2,085,750$1,062,376$852,946$2,066,742
67$2,243,463$1,059,399$826,487$2,205,869
68$2,415,530$1,054,543$797,407$2,357,401
69$2,603,359$1,047,661$765,565$2,522,568
70$2,808,502$1,038,597$730,812$2,702,724
71$3,032,667$1,027,186$692,993$2,899,362
72$3,277,735$1,013,253$651,943$3,114,125
73$3,545,775$996,614$607,495$3,348,827
74$3,839,067$977,071$559,469$3,605,464
75$4,160,121$954,417$507,680$3,886,237
76$4,511,701$928,431$451,935$4,193,569
77$4,896,850$898,879$392,030$4,530,135
78$5,318,921$865,516$327,755$4,898,878
79$5,781,604$828,080$258,889$5,303,044
80$6,288,966$786,295$185,200$5,746,210
81$6,845,485$739,867$106,448$6,232,318
82$7,456,092$688,488$22,382$6,765,713
83$8,126,221$631,832$0$7,351,182
84$8,861,855$569,551$0$7,997,595
85$9,669,587$501,282$0$8,708,683
86$10,556,679$426,639$0$9,489,675
87$11,531,128$345,212$0$10,347,654
88$12,601,748$256,573$0$11,290,420
89$13,778,247$160,265$0$12,326,574
90$15,071,318$55,808$0$13,465,590
91$16,492,745$0$0$14,717,912
92$18,055,508$0$0$16,103,876
93$19,773,909$0$0$17,637,351
94$21,663,705$0$0$19,323,803
95$23,742,254$0$0$21,178,728
96$26,028,684$0$0$23,219,198
97$28,544,069$0$0$25,464,023
98$31,311,627$0$0$27,933,929
99$34,356,943$0$0$30,651,751
100$37,708,203$0$0$33,642,651