Can I retire at age 56 with 937,000?

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 $937,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.6%
1 years$77,377$76,687$76,015$75,359$74,718$73,000
2 years$38,305$37,592$36,900$36,230$35,580$33,859
3 years$25,283$24,567$23,877$23,213$22,573$20,903
4 years$18,773$18,059$17,376$16,724$16,099$14,492
5 years$14,869$14,159$13,485$12,845$12,239$10,699
6 years$12,266$11,562$10,898$10,273$9,684$8,214
7 years$10,408$9,709$9,056$8,446$7,876$6,475
8 years$9,015$8,323$7,680$7,085$6,534$5,202
9 years$7,932$7,246$6,615$6,035$5,502$4,239
10 years$7,067$6,387$5,767$5,202$4,688$3,491
11 years$6,359$5,686$5,077$4,527$4,032$2,900
12 years$5,769$5,104$4,506$3,971$3,494$2,426
13 years$5,271$4,612$4,026$3,506$3,047$2,040
14 years$4,844$4,192$3,617$3,112$2,671$1,723
15 years$4,474$3,830$3,266$2,775$2,352$1,460
16 years$4,151$3,514$2,961$2,485$2,078$1,242
17 years$3,866$3,236$2,694$2,233$1,843$1,059
18 years$3,614$2,990$2,460$2,012$1,639$904
19 years$3,388$2,771$2,252$1,818$1,460$774
20 years$3,185$2,575$2,066$1,647$1,305$664
21 years$3,001$2,399$1,901$1,495$1,167$570
22 years$2,834$2,239$1,752$1,359$1,046$489
23 years$2,682$2,094$1,617$1,238$939$421
24 years$2,543$1,962$1,496$1,129$844$362
25 years$2,416$1,841$1,386$1,031$760$312
26 years$2,298$1,731$1,285$943$684$269
27 years$2,189$1,629$1,193$863$617$232
28 years$2,088$1,535$1,109$790$557$200
29 years$1,995$1,448$1,032$725$503$173
30 years$1,907$1,367$962$665$454$149
31 years$1,826$1,293$896$611$411$129
32 years$1,750$1,223$836$561$371$111
33 years$1,678$1,158$781$516$336$96
34 years$1,611$1,098$730$475$304$83
35 years$1,548$1,041$682$437$276$72
36 years$1,488$988$638$403$250$62
37 years$1,432$939$597$371$226$54
38 years$1,379$892$559$342$205$46
39 years$1,329$848$524$315$186$40
40 years$1,281$807$491$291$169$35
41 years$1,236$768$461$268$153$30
42 years$1,193$732$432$248$139$26
43 years$1,152$697$405$229$126$22
44 years$1,113$664$381$211$114$19
45 years$1,076$634$357$195$104$17
46 years$1,041$604$336$180$94$14
47 years$1,007$577$315$166$86$13
48 years$975$551$296$154$78$11
49 years$944$526$278$142$71$9
50 years$915$502$262$131$64$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $937,000, adding $2,151 every year, while hoping to spend $30,600 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: 65/27/8 Blend
55$937,000$937,000$937,000$937,000
56$1,034,793$985,132$970,608$1,100,308
57$1,107,783$1,000,845$970,565$1,159,898
58$1,187,194$1,016,303$969,496$1,221,153
59$1,273,646$1,031,460$967,332$1,287,280
60$1,367,825$1,046,269$964,005$1,358,749
61$1,470,484$1,060,677$959,441$1,436,080
62$1,582,454$1,074,631$953,562$1,519,846
63$1,704,648$1,088,071$946,290$1,610,677
64$1,838,069$1,100,934$937,538$1,709,268
65$1,983,826$1,113,153$927,219$1,816,385
66$2,143,135$1,124,656$915,240$1,932,874
67$2,317,338$1,135,368$901,503$2,059,665
68$2,507,911$1,145,205$885,908$2,197,785
69$2,716,480$1,154,083$868,348$2,348,364
70$2,944,835$1,161,907$848,712$2,512,649
71$3,194,947$1,168,579$826,883$2,692,016
72$3,468,988$1,173,996$802,740$2,887,980
73$3,769,348$1,178,045$776,154$3,102,210
74$4,098,659$1,180,607$746,994$3,336,549
75$4,459,824$1,181,558$715,119$3,593,028
76$4,856,034$1,180,763$680,384$3,873,884
77$5,290,809$1,178,080$642,637$4,181,584
78$5,768,024$1,173,358$601,718$4,518,850
79$6,291,949$1,166,438$557,461$4,888,679
80$6,867,284$1,157,150$509,692$5,294,379
81$7,499,210$1,145,314$458,231$5,739,593
82$8,193,434$1,130,739$402,886$6,228,339
83$8,956,243$1,113,223$343,460$6,765,047
84$9,794,560$1,092,552$279,747$7,354,600
85$10,716,016$1,068,498$211,530$8,002,381
86$11,729,017$1,040,822$138,583$8,714,325
87$12,842,823$1,009,269$60,672$9,496,973
88$14,067,637$973,569$0$10,357,537
89$15,414,700$933,437$0$11,305,885
90$16,896,396$888,572$0$12,354,516
91$18,526,371$838,654$0$13,507,927
92$20,319,659$783,347$0$14,776,794
93$22,292,826$722,293$0$16,172,880
94$24,464,124$655,115$0$17,709,152
95$26,853,664$581,415$0$19,399,904
96$29,483,604$500,770$0$21,260,887
97$32,378,359$412,736$0$23,309,465
98$35,564,834$316,842$0$25,564,776
99$39,072,672$212,592$0$28,047,911
100$42,934,536$99,461$0$30,782,121