Can I retire at age 56 with 987,000?

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 $987,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.5%
1 years$81,506$80,780$80,071$79,380$78,705$77,242
2 years$40,349$39,598$38,870$38,163$37,478$36,010
3 years$26,632$25,878$25,151$24,452$23,778$22,350
4 years$19,775$19,023$18,304$17,616$16,959$15,582
5 years$15,662$14,914$14,204$13,531$12,892$11,570
6 years$12,921$12,178$11,479$10,821$10,201$8,936
7 years$10,963$10,227$9,539$8,896$8,296$7,088
8 years$9,496$8,767$8,090$7,463$6,882$5,731
9 years$8,356$7,633$6,968$6,357$5,796$4,701
10 years$7,444$6,728$6,075$5,480$4,938$3,898
11 years$6,698$5,990$5,348$4,769$4,247$3,261
12 years$6,077$5,376$4,746$4,183$3,680$2,747
13 years$5,552$4,858$4,241$3,693$3,209$2,327
14 years$5,102$4,416$3,810$3,278$2,813$1,980
15 years$4,713$4,034$3,440$2,924$2,477$1,691
16 years$4,373$3,701$3,119$2,618$2,189$1,449
17 years$4,073$3,409$2,838$2,352$1,941$1,245
18 years$3,806$3,150$2,591$2,120$1,726$1,073
19 years$3,568$2,919$2,372$1,915$1,538$926
20 years$3,355$2,713$2,177$1,735$1,374$800
21 years$3,161$2,527$2,002$1,574$1,230$692
22 years$2,986$2,359$1,845$1,431$1,102$600
23 years$2,826$2,206$1,704$1,304$989$521
24 years$2,679$2,067$1,576$1,189$889$452
25 years$2,545$1,940$1,459$1,086$800$393
26 years$2,421$1,823$1,354$993$721$341
27 years$2,306$1,716$1,257$909$650$297
28 years$2,200$1,617$1,168$833$586$259
29 years$2,101$1,525$1,087$764$530$225
30 years$2,009$1,440$1,013$701$478$196
31 years$1,923$1,362$944$644$433$171
32 years$1,843$1,288$881$591$391$149
33 years$1,768$1,220$823$544$354$130
34 years$1,697$1,156$769$500$321$113
35 years$1,630$1,097$719$461$290$99
36 years$1,568$1,041$672$424$263$86
37 years$1,508$989$629$391$238$75
38 years$1,452$940$589$360$216$66
39 years$1,400$893$552$332$196$57
40 years$1,349$850$517$306$178$50
41 years$1,302$809$485$283$161$44
42 years$1,257$771$455$261$146$38
43 years$1,214$734$427$241$133$33
44 years$1,173$700$401$222$121$29
45 years$1,134$667$376$205$109$25
46 years$1,097$637$354$190$99$22
47 years$1,061$608$332$175$90$19
48 years$1,027$580$312$162$82$17
49 years$995$554$293$150$74$15
50 years$964$529$276$138$68$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $987,000, adding $2,713 every year, while hoping to spend $46,834 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: 43/28/29 Blend
55$987,000$987,000$987,000$987,000
56$1,090,472$1,038,161$1,022,863$1,128,039
57$1,151,870$1,039,200$1,007,298$1,156,315
58$1,217,960$1,038,720$989,642$1,182,305
59$1,289,172$1,036,598$969,775$1,209,581
60$1,365,977$1,032,701$947,572$1,238,289
61$1,448,894$1,026,891$922,903$1,268,596
62$1,538,492$1,019,019$895,631$1,300,686
63$1,635,395$1,008,928$865,612$1,334,767
64$1,740,292$996,452$832,697$1,371,071
65$1,853,939$981,415$796,728$1,409,858
66$1,977,165$963,629$757,543$1,451,417
67$2,110,885$942,896$714,971$1,496,072
68$2,256,105$919,008$668,831$1,544,184
69$2,413,929$891,740$618,938$1,596,157
70$2,585,573$860,859$565,097$1,652,438
71$2,772,377$826,116$507,102$1,713,528
72$2,975,811$787,247$444,742$1,779,984
73$3,197,496$743,975$377,793$1,852,424
74$3,439,214$696,003$306,023$1,931,537
75$3,702,928$643,022$229,189$2,018,090
76$3,990,798$584,701$147,038$2,112,933
77$4,305,201$520,693$59,306$2,217,011
78$4,648,755$450,630$0$2,331,374
79$5,024,340$374,124$0$2,467,808
80$5,435,130$290,762$0$2,637,258
81$5,884,616$200,113$0$2,822,882
82$6,376,646$101,718$0$3,026,366
83$6,915,455$0$0$3,249,576
84$7,505,707$0$0$3,496,082
85$8,152,538$0$0$3,800,682
86$8,861,605$0$0$4,134,712
87$9,639,138$0$0$4,501,124
88$10,491,999$0$0$4,903,167
89$11,427,748$0$0$5,344,420
90$12,454,707$0$0$5,828,827
91$13,582,049$0$0$6,360,731
92$14,819,873$0$0$6,944,916
93$16,179,308$0$0$7,586,653
94$17,672,611$0$0$8,291,747
95$19,313,287$0$0$9,066,595
96$21,116,210$0$0$9,918,245
97$23,097,770$0$0$10,854,459
98$25,276,021$0$0$11,883,789
99$27,670,857$0$0$13,015,661
100$30,304,190$0$0$14,260,454