Can I retire at age 56 with 968,000?

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 $968,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.6%
1 years$79,937$79,225$78,530$77,852$77,190$76,036
2 years$39,573$38,836$38,121$37,429$36,757$35,597
3 years$26,120$25,379$24,667$23,981$23,320$22,191
4 years$19,395$18,657$17,951$17,277$16,632$15,541
5 years$15,360$14,627$13,931$13,270$12,643$11,595
6 years$12,672$11,944$11,258$10,612$10,004$8,999
7 years$10,752$10,031$9,356$8,725$8,136$7,174
8 years$9,313$8,598$7,934$7,319$6,750$5,831
9 years$8,195$7,486$6,834$6,234$5,684$4,808
10 years$7,300$6,599$5,958$5,374$4,843$4,009
11 years$6,569$5,874$5,245$4,677$4,165$3,373
12 years$5,960$5,273$4,655$4,102$3,610$2,857
13 years$5,445$4,765$4,159$3,622$3,148$2,435
14 years$5,004$4,331$3,737$3,215$2,759$2,085
15 years$4,622$3,957$3,374$2,867$2,429$1,792
16 years$4,289$3,630$3,059$2,567$2,147$1,545
17 years$3,994$3,343$2,783$2,307$1,904$1,336
18 years$3,733$3,089$2,541$2,079$1,693$1,158
19 years$3,500$2,863$2,326$1,878$1,509$1,006
20 years$3,290$2,660$2,135$1,701$1,348$876
21 years$3,100$2,478$1,964$1,544$1,206$763
22 years$2,928$2,313$1,810$1,404$1,081$666
23 years$2,771$2,164$1,671$1,278$970$582
24 years$2,628$2,027$1,545$1,166$872$509
25 years$2,496$1,902$1,431$1,065$785$445
26 years$2,374$1,788$1,327$974$707$390
27 years$2,262$1,683$1,233$891$637$342
28 years$2,157$1,586$1,146$817$575$299
29 years$2,061$1,496$1,066$749$519$263
30 years$1,970$1,413$993$687$469$231
31 years$1,886$1,335$926$631$424$202
32 years$1,807$1,264$864$580$384$178
33 years$1,734$1,197$807$533$347$156
34 years$1,664$1,134$754$491$314$137
35 years$1,599$1,076$705$452$285$121
36 years$1,537$1,021$659$416$258$106
37 years$1,479$970$617$383$234$93
38 years$1,425$922$578$353$212$82
39 years$1,373$876$541$326$192$72
40 years$1,323$834$507$301$174$63
41 years$1,277$794$476$277$158$56
42 years$1,232$756$446$256$144$49
43 years$1,190$720$419$236$130$43
44 years$1,150$686$393$218$118$38
45 years$1,112$655$369$201$107$33
46 years$1,075$624$347$186$97$29
47 years$1,041$596$326$172$89$26
48 years$1,007$569$306$159$80$23
49 years$976$543$288$147$73$20
50 years$945$519$270$136$66$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $968,000, adding $3,358 every year, while hoping to spend $34,374 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: 44/31/25 Blend
55$968,000$968,000$968,000$968,000
56$1,070,200$1,018,896$1,003,892$1,109,397
57$1,142,786$1,032,248$1,000,948$1,150,914
58$1,221,625$1,045,102$996,755$1,192,317
59$1,307,317$1,057,398$991,232$1,236,520
60$1,400,523$1,069,071$984,298$1,283,802
61$1,501,972$1,080,051$975,868$1,334,472
62$1,612,465$1,090,265$965,851$1,388,870
63$1,732,882$1,099,634$954,153$1,447,375
64$1,864,195$1,108,075$940,675$1,510,403
65$2,007,470$1,115,497$925,315$1,578,417
66$2,163,882$1,121,807$907,964$1,651,928
67$2,334,725$1,126,903$888,508$1,731,501
68$2,521,424$1,130,678$866,830$1,817,761
69$2,725,545$1,133,018$842,805$1,911,400
70$2,948,816$1,133,800$816,303$2,013,181
71$3,193,135$1,132,897$787,190$2,123,948
72$3,460,597$1,130,170$755,322$2,244,637
73$3,753,505$1,125,476$720,553$2,376,278
74$4,074,398$1,118,660$682,727$2,520,012
75$4,426,070$1,109,557$641,681$2,677,099
76$4,811,599$1,097,995$597,248$2,848,931
77$5,234,375$1,083,790$549,248$3,037,048
78$5,698,132$1,066,747$497,499$3,243,148
79$6,206,982$1,046,659$441,806$3,469,109
80$6,765,456$1,023,307$381,969$3,717,003
81$7,378,544$996,460$317,775$3,989,122
82$8,051,741$965,872$249,007$4,287,992
83$8,791,102$931,283$175,432$4,616,408
84$9,603,298$892,420$96,813$4,977,451
85$10,495,677$848,991$12,898$5,374,525
86$11,476,332$800,688$0$5,811,389
87$12,554,183$747,186$0$6,312,636
88$13,739,053$688,142$0$6,867,401
89$15,041,767$623,191$0$7,477,367
90$16,474,249$551,949$0$8,148,192
91$18,049,639$474,011$0$8,886,113
92$19,782,411$388,947$0$9,698,009
93$21,688,515$296,303$0$10,591,466
94$23,785,523$195,601$0$11,574,848
95$26,092,796$86,336$0$12,657,377
96$28,631,668$0$0$13,849,224
97$31,425,642$0$0$15,172,526
98$34,500,619$0$0$16,661,468
99$37,885,134$0$0$18,300,436
100$41,610,632$0$0$20,104,672