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%11.1%
1 years$79,524$78,815$78,124$77,450$76,791$76,435
2 years$39,368$38,635$37,924$37,235$36,567$36,208
3 years$25,985$25,248$24,540$23,857$23,200$22,848
4 years$19,294$18,560$17,859$17,188$16,546$16,205
5 years$15,281$14,551$13,859$13,202$12,578$12,249
6 years$12,607$11,882$11,200$10,558$9,953$9,635
7 years$10,697$9,979$9,307$8,680$8,094$7,789
8 years$9,265$8,554$7,893$7,281$6,715$6,422
9 years$8,152$7,447$6,799$6,202$5,655$5,374
10 years$7,263$6,565$5,927$5,346$4,818$4,549
11 years$6,535$5,844$5,218$4,653$4,144$3,886
12 years$5,929$5,245$4,631$4,081$3,591$3,345
13 years$5,417$4,740$4,137$3,603$3,131$2,897
14 years$4,978$4,309$3,718$3,198$2,745$2,521
15 years$4,598$3,936$3,356$2,852$2,417$2,204
16 years$4,266$3,611$3,043$2,554$2,136$1,934
17 years$3,974$3,326$2,769$2,295$1,894$1,702
18 years$3,714$3,073$2,528$2,068$1,684$1,502
19 years$3,482$2,848$2,314$1,869$1,501$1,328
20 years$3,273$2,647$2,124$1,692$1,341$1,177
21 years$3,084$2,465$1,953$1,536$1,200$1,045
22 years$2,913$2,301$1,800$1,397$1,075$929
23 years$2,757$2,152$1,662$1,272$965$827
24 years$2,614$2,017$1,537$1,160$868$737
25 years$2,483$1,893$1,424$1,059$781$658
26 years$2,362$1,779$1,321$969$703$588
27 years$2,250$1,674$1,226$887$634$525
28 years$2,146$1,577$1,140$812$572$470
29 years$2,050$1,488$1,061$745$517$421
30 years$1,960$1,405$988$684$467$377
31 years$1,876$1,328$921$628$422$338
32 years$1,798$1,257$860$577$382$303
33 years$1,725$1,190$803$531$346$271
34 years$1,656$1,128$750$488$313$244
35 years$1,591$1,070$701$449$283$219
36 years$1,529$1,016$656$414$257$196
37 years$1,472$965$614$381$233$176
38 years$1,417$917$575$352$211$158
39 years$1,366$872$539$324$191$142
40 years$1,317$829$505$299$174$128
41 years$1,270$790$473$276$157$115
42 years$1,226$752$444$255$143$103
43 years$1,184$716$417$235$130$93
44 years$1,144$683$391$217$118$83
45 years$1,106$651$367$200$107$75
46 years$1,070$621$345$185$97$67
47 years$1,035$593$324$171$88$61
48 years$1,002$566$305$158$80$55
49 years$971$540$286$146$73$49
50 years$940$516$269$135$66$44

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $963,000, adding $3,037 every year, while hoping to spend $37,287 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: 62/23/15 Blend
55$963,000$963,000$963,000$963,000
56$1,064,359$1,013,320$998,393$1,126,223
57$1,133,250$1,023,299$992,166$1,178,139
58$1,207,919$1,032,518$984,481$1,230,288
59$1,288,915$1,040,900$975,249$1,286,321
60$1,376,843$1,048,362$964,379$1,346,618
61$1,472,367$1,054,819$951,772$1,411,597
62$1,576,221$1,060,177$937,329$1,481,720
63$1,689,208$1,064,339$920,942$1,557,498
64$1,812,215$1,067,199$902,501$1,639,492
65$1,946,216$1,068,646$881,890$1,728,324
66$2,092,283$1,068,563$858,986$1,824,680
67$2,251,597$1,066,824$833,664$1,929,315
68$2,425,457$1,063,295$805,788$2,043,066
69$2,615,293$1,057,836$775,221$2,166,854
70$2,822,679$1,050,296$741,817$2,301,695
71$3,049,348$1,040,516$705,424$2,448,711
72$3,297,208$1,028,328$665,882$2,609,142
73$3,568,360$1,013,553$623,026$2,784,354
74$3,865,117$996,001$576,681$2,975,854
75$4,190,025$975,472$526,667$3,185,306
76$4,545,890$951,753$472,793$3,414,546
77$4,935,801$924,618$414,861$3,665,601
78$5,363,159$893,831$352,665$3,940,703
79$5,831,710$859,138$285,989$4,242,320
80$6,345,581$820,272$214,606$4,573,171
81$6,909,317$776,952$138,282$4,936,256
82$7,527,923$728,878$56,770$5,334,887
83$8,206,913$675,735$0$5,772,714
84$8,952,362$617,189$0$6,258,602
85$9,770,959$552,887$0$6,802,168
86$10,670,074$482,457$0$7,399,262
87$11,657,827$405,503$0$8,055,336
88$12,743,163$321,610$0$8,776,400
89$13,935,934$230,337$0$9,569,081
90$15,246,996$131,221$0$10,440,683
91$16,688,309$23,770$0$11,399,259
92$18,273,049$0$0$12,453,685
93$20,015,732$0$0$13,637,168
94$21,932,352$0$0$14,945,470
95$24,040,530$0$0$16,384,614
96$26,359,681$0$0$17,967,865
97$28,911,197$0$0$19,709,835
98$31,718,646$0$0$21,626,628
99$34,807,998$0$0$23,735,985
100$38,207,866$0$0$26,057,455