Can I retire at age 56 with 967,000?

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 $967,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19%
1 years$79,854$79,143$78,449$77,771$77,110$74,315
2 years$39,532$38,795$38,082$37,390$36,719$33,934
3 years$26,093$25,353$24,642$23,956$23,296$20,608
4 years$19,374$18,637$17,933$17,259$16,615$14,045
5 years$15,345$14,612$13,917$13,257$12,630$10,185
6 years$12,659$11,932$11,247$10,601$9,994$7,675
7 years$10,741$10,020$9,346$8,716$8,128$5,934
8 years$9,304$8,589$7,926$7,312$6,743$4,673
9 years$8,186$7,478$6,827$6,228$5,678$3,730
10 years$7,293$6,592$5,952$5,369$4,838$3,008
11 years$6,562$5,868$5,240$4,672$4,161$2,444
12 years$5,954$5,267$4,650$4,098$3,606$1,999
13 years$5,440$4,760$4,155$3,618$3,144$1,643
14 years$4,999$4,327$3,733$3,212$2,756$1,355
15 years$4,618$3,952$3,370$2,864$2,427$1,122
16 years$4,284$3,626$3,056$2,565$2,145$931
17 years$3,990$3,340$2,781$2,304$1,902$774
18 years$3,729$3,086$2,538$2,077$1,691$645
19 years$3,496$2,860$2,324$1,876$1,507$538
20 years$3,287$2,658$2,133$1,699$1,346$449
21 years$3,097$2,476$1,962$1,542$1,205$376
22 years$2,925$2,311$1,808$1,402$1,080$314
23 years$2,768$2,161$1,669$1,277$969$263
24 years$2,625$2,025$1,544$1,165$871$221
25 years$2,493$1,900$1,430$1,064$784$185
26 years$2,372$1,786$1,326$973$706$155
27 years$2,259$1,681$1,231$890$637$130
28 years$2,155$1,584$1,145$816$575$109
29 years$2,059$1,494$1,065$748$519$92
30 years$1,968$1,411$992$687$469$77
31 years$1,884$1,334$925$631$424$65
32 years$1,806$1,262$863$579$383$54
33 years$1,732$1,195$806$533$347$46
34 years$1,662$1,133$753$490$314$38
35 years$1,597$1,075$704$451$285$32
36 years$1,536$1,020$659$416$258$27
37 years$1,478$969$616$383$234$23
38 years$1,423$921$577$353$212$19
39 years$1,371$875$541$325$192$16
40 years$1,322$833$507$300$174$13
41 years$1,275$793$475$277$158$11
42 years$1,231$755$446$256$143$9
43 years$1,189$719$418$236$130$8
44 years$1,149$686$393$218$118$7
45 years$1,111$654$369$201$107$6
46 years$1,074$624$346$186$97$5
47 years$1,040$595$325$172$88$4
48 years$1,006$568$306$159$80$3
49 years$975$543$287$147$73$3
50 years$944$518$270$136$66$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $967,000, adding $4,173 every year, while hoping to spend $44,025 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: 55/16/29 Blend
55$967,000$967,000$967,000$967,000
56$1,069,938$1,018,687$1,003,699$1,119,973
57$1,132,230$1,021,761$990,481$1,158,049
58$1,199,400$1,023,509$975,344$1,194,626
59$1,271,899$1,023,822$958,178$1,233,587
60$1,350,222$1,022,579$938,867$1,275,179
61$1,434,916$1,019,656$917,290$1,319,673
62$1,526,578$1,014,920$893,320$1,367,373
63$1,625,866$1,008,228$866,823$1,418,614
64$1,733,505$999,432$837,662$1,473,768
65$1,850,289$988,370$805,691$1,533,247
66$1,977,094$974,876$770,757$1,597,508
67$2,114,883$958,770$732,702$1,667,057
68$2,264,714$939,863$691,361$1,742,454
69$2,427,752$917,954$646,559$1,824,319
70$2,605,280$892,831$598,116$1,913,340
71$2,798,707$864,268$545,841$2,010,278
72$3,009,586$832,028$489,538$2,115,973
73$3,239,624$795,858$428,998$2,231,357
74$3,490,704$755,493$364,007$2,357,461
75$3,764,893$710,650$294,339$2,495,425
76$4,064,471$661,031$219,759$2,646,508
77$4,391,947$606,320$140,020$2,812,105
78$4,750,081$546,185$54,866$2,993,757
79$5,141,914$480,274$0$3,193,168
80$5,570,795$408,213$0$3,423,364
81$6,040,412$329,611$0$3,694,125
82$6,554,822$244,050$0$3,990,846
83$7,118,499$151,094$0$4,316,165
84$7,736,366$50,278$0$4,672,986
85$8,413,847$0$0$5,064,514
86$9,156,914$0$0$5,504,650
87$9,972,147$0$0$5,997,334
88$10,866,792$0$0$6,538,105
89$11,848,833$0$0$7,131,799
90$12,927,060$0$0$7,783,745
91$14,111,161$0$0$8,499,811
92$15,411,804$0$0$9,286,462
93$16,840,744$0$0$10,150,822
94$18,410,929$0$0$11,100,736
95$20,136,625$0$0$12,144,850
96$22,033,547$0$0$13,292,685
97$24,119,009$0$0$14,554,736
98$26,412,087$0$0$15,942,560
99$28,933,796$0$0$17,468,895
100$31,707,291$0$0$19,147,772