Can I retire at age 56 with 969,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $969,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.2%
1 years$80,019$79,306$78,611$77,932$77,269$76,558
2 years$39,613$38,876$38,161$37,467$36,795$36,078
3 years$26,147$25,406$24,692$24,006$23,344$22,644
4 years$19,415$18,676$17,970$17,295$16,649$15,972
5 years$15,376$14,642$13,945$13,284$12,657$12,003
6 years$12,685$11,956$11,270$10,623$10,015$9,386
7 years$10,764$10,041$9,365$8,734$8,145$7,542
8 years$9,323$8,607$7,943$7,327$6,757$6,179
9 years$8,203$7,494$6,841$6,241$5,690$5,138
10 years$7,308$6,606$5,964$5,380$4,848$4,321
11 years$6,576$5,880$5,251$4,682$4,170$3,666
12 years$5,966$5,278$4,660$4,107$3,613$3,134
13 years$5,451$4,770$4,163$3,626$3,151$2,695
14 years$5,009$4,336$3,741$3,218$2,762$2,329
15 years$4,627$3,961$3,377$2,870$2,432$2,021
16 years$4,293$3,634$3,062$2,570$2,149$1,760
17 years$3,999$3,347$2,786$2,309$1,906$1,537
18 years$3,737$3,092$2,544$2,081$1,695$1,346
19 years$3,503$2,866$2,329$1,880$1,510$1,181
20 years$3,293$2,663$2,137$1,703$1,349$1,038
21 years$3,104$2,481$1,966$1,546$1,207$914
22 years$2,931$2,316$1,812$1,405$1,082$806
23 years$2,774$2,166$1,673$1,280$971$712
24 years$2,630$2,029$1,547$1,167$873$629
25 years$2,498$1,904$1,433$1,066$786$557
26 years$2,377$1,790$1,329$975$708$493
27 years$2,264$1,684$1,234$892$638$437
28 years$2,160$1,587$1,147$817$576$387
29 years$2,063$1,497$1,068$750$520$344
30 years$1,972$1,414$994$688$470$305
31 years$1,888$1,337$927$632$425$271
32 years$1,809$1,265$865$581$384$241
33 years$1,735$1,198$808$534$348$214
34 years$1,666$1,135$755$491$315$190
35 years$1,601$1,077$705$452$285$169
36 years$1,539$1,022$660$417$258$151
37 years$1,481$971$618$384$234$134
38 years$1,426$922$578$354$212$119
39 years$1,374$877$542$326$192$106
40 years$1,325$835$508$301$175$94
41 years$1,278$794$476$278$158$84
42 years$1,234$757$447$256$144$75
43 years$1,191$721$419$236$130$67
44 years$1,151$687$394$218$118$59
45 years$1,113$655$370$202$107$53
46 years$1,077$625$347$186$98$47
47 years$1,042$597$326$172$89$42
48 years$1,008$569$306$159$80$37
49 years$977$544$288$147$73$33
50 years$946$519$271$136$66$30

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $969,000, adding $6,701 every year, while hoping to spend $36,103 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: 45/26/29 Blend
55$969,000$969,000$969,000$969,000
56$1,074,750$1,023,393$1,008,374$1,113,841
57$1,145,961$1,035,126$1,003,741$1,154,064
58$1,223,226$1,046,224$997,743$1,193,692
59$1,307,124$1,056,617$990,296$1,235,985
60$1,398,291$1,066,233$981,312$1,281,213
61$1,497,430$1,074,991$970,699$1,329,674
62$1,605,311$1,082,809$958,360$1,381,700
63$1,722,783$1,089,597$944,196$1,437,657
64$1,850,780$1,095,260$928,099$1,497,950
65$1,990,329$1,099,697$909,960$1,563,029
66$2,142,561$1,102,801$889,662$1,633,390
67$2,308,721$1,104,457$867,084$1,709,583
68$2,490,179$1,104,544$842,101$1,792,217
69$2,688,445$1,102,934$814,578$1,881,965
70$2,905,177$1,099,489$784,378$1,979,572
71$3,142,206$1,094,065$751,355$2,085,861
72$3,401,544$1,086,506$715,358$2,201,744
73$3,685,407$1,076,651$676,228$2,328,228
74$3,996,237$1,064,325$633,800$2,466,426
75$4,336,721$1,049,345$587,901$2,617,570
76$4,709,820$1,031,517$538,349$2,783,020
77$5,118,794$1,010,633$484,956$2,964,281
78$5,567,234$986,477$427,525$3,163,015
79$6,059,093$958,816$365,848$3,381,057
80$6,598,728$927,405$299,712$3,620,436
81$7,190,937$891,986$228,890$3,883,395
82$7,841,003$852,285$153,149$4,172,408
83$8,554,749$808,010$72,243$4,490,210
84$9,338,587$758,856$0$4,839,821
85$10,199,581$704,498$0$5,228,938
86$11,145,513$644,593$0$5,681,020
87$12,184,955$578,778$0$6,177,841
88$13,327,353$506,671$0$6,723,979
89$14,583,110$427,865$0$7,324,483
90$15,963,690$341,933$0$7,984,921
91$17,481,722$248,423$0$8,711,430
92$19,151,119$146,858$0$9,510,780
93$20,987,213$36,733$0$10,390,434
94$23,006,893$0$0$11,358,623
95$25,228,768$0$0$12,448,020
96$27,673,342$0$0$13,658,302
97$30,363,206$0$0$14,990,161
98$33,323,253$0$0$16,455,940
99$36,580,910$0$0$18,069,236
100$40,166,396$0$0$19,845,035