Can I retire at age 56 with 932,000?

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 $932,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.7%
1 years$76,964$76,278$75,609$74,956$74,319$73,482
2 years$38,101$37,391$36,704$36,037$35,390$34,547
3 years$25,148$24,436$23,750$23,089$22,453$21,631
4 years$18,673$17,963$17,284$16,634$16,014$15,218
5 years$14,789$14,083$13,413$12,777$12,173$11,407
6 years$12,201$11,500$10,840$10,218$9,632$8,896
7 years$10,353$9,658$9,008$8,401$7,834$7,128
8 years$8,967$8,278$7,639$7,047$6,499$5,824
9 years$7,890$7,208$6,580$6,002$5,473$4,828
10 years$7,029$6,353$5,736$5,174$4,663$4,048
11 years$6,325$5,656$5,050$4,503$4,010$3,424
12 years$5,738$5,076$4,482$3,950$3,475$2,918
13 years$5,243$4,588$4,004$3,487$3,031$2,501
14 years$4,818$4,170$3,598$3,095$2,657$2,154
15 years$4,450$3,809$3,248$2,761$2,339$1,863
16 years$4,129$3,495$2,945$2,472$2,067$1,617
17 years$3,846$3,219$2,680$2,221$1,833$1,407
18 years$3,594$2,974$2,446$2,001$1,630$1,227
19 years$3,370$2,757$2,240$1,809$1,453$1,073
20 years$3,168$2,562$2,055$1,638$1,298$940
21 years$2,985$2,386$1,891$1,487$1,161$825
22 years$2,819$2,227$1,742$1,352$1,041$725
23 years$2,668$2,083$1,609$1,231$934$637
24 years$2,530$1,952$1,488$1,123$840$561
25 years$2,403$1,832$1,378$1,025$756$495
26 years$2,286$1,721$1,278$937$681$436
27 years$2,178$1,620$1,187$858$614$385
28 years$2,077$1,527$1,103$786$554$340
29 years$1,984$1,440$1,027$721$500$301
30 years$1,897$1,360$956$662$452$266
31 years$1,816$1,286$892$608$408$235
32 years$1,740$1,217$832$558$369$208
33 years$1,669$1,152$777$514$334$184
34 years$1,602$1,092$726$473$303$163
35 years$1,539$1,036$679$435$274$144
36 years$1,480$983$635$401$248$128
37 years$1,424$934$594$369$225$113
38 years$1,372$887$556$340$204$100
39 years$1,322$844$521$314$185$89
40 years$1,274$803$489$289$168$79
41 years$1,229$764$458$267$152$70
42 years$1,187$728$430$246$138$62
43 years$1,146$693$403$227$125$55
44 years$1,107$661$379$210$114$49
45 years$1,071$630$355$194$103$43
46 years$1,035$601$334$179$94$38
47 years$1,002$574$314$166$85$34
48 years$970$548$295$153$77$30
49 years$939$523$277$141$70$27
50 years$910$500$260$131$64$24

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $932,000, adding $5,646 every year, while hoping to spend $53,602 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: 36/37/27 Blend
55$932,000$932,000$932,000$932,000
56$1,032,888$983,492$969,046$1,061,525
57$1,081,210$974,651$944,477$1,074,425
58$1,132,665$963,580$917,288$1,083,069
59$1,187,515$950,114$887,336$1,091,363
60$1,246,049$934,076$854,468$1,099,310
61$1,308,581$915,281$818,528$1,106,920
62$1,375,457$893,531$779,350$1,114,207
63$1,447,057$868,618$736,762$1,121,192
64$1,523,797$840,319$690,583$1,127,905
65$1,606,131$808,402$640,625$1,134,383
66$1,694,562$772,619$586,690$1,140,674
67$1,789,637$732,708$528,575$1,146,836
68$1,891,960$688,391$466,062$1,152,942
69$2,002,194$639,375$398,929$1,159,077
70$2,121,064$585,351$326,940$1,165,346
71$2,249,371$525,992$249,850$1,171,869
72$2,387,992$460,950$167,405$1,178,789
73$2,537,891$389,861$79,338$1,186,273
74$2,700,130$312,338$0$1,194,514
75$2,875,873$227,972$0$1,207,955
76$3,066,402$136,333$0$1,247,298
77$3,273,126$36,965$0$1,290,046
78$3,497,596$0$0$1,336,624
79$3,741,517$0$0$1,416,264
80$4,006,762$0$0$1,519,348
81$4,295,397$0$0$1,631,643
82$4,609,690$0$0$1,754,048
83$4,952,141$0$0$1,887,552
84$5,325,498$0$0$2,033,242
85$5,732,787$0$0$2,192,318
86$6,177,338$0$0$2,366,098
87$6,662,817$0$0$2,556,033
88$7,193,259$0$0$2,763,722
89$7,773,108$0$0$2,990,925
90$8,407,256$0$0$3,239,580
91$9,101,086$0$0$3,511,820
92$9,860,531$0$0$3,809,996
93$10,692,120$0$0$4,136,695
94$11,603,044$0$0$4,494,767
95$12,601,222$0$0$4,887,350
96$13,695,377$0$0$5,317,901
97$14,895,114$0$0$5,790,228
98$16,211,012$0$0$6,308,524
99$17,654,725$0$0$6,877,408
100$19,239,087$0$0$7,501,969