Can I retire at age 56 with 938,000?

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 $938,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.9%
1 years$77,459$76,769$76,096$75,439$74,797$71,830
2 years$38,346$37,632$36,940$36,269$35,618$32,665
3 years$25,310$24,593$23,903$23,238$22,597$19,752
4 years$18,793$18,078$17,395$16,741$16,117$13,400
5 years$14,884$14,174$13,499$12,859$12,252$9,671
6 years$12,279$11,574$10,909$10,283$9,694$7,252
7 years$10,419$9,720$9,066$8,455$7,884$5,579
8 years$9,025$8,332$7,688$7,092$6,541$4,370
9 years$7,941$7,254$6,622$6,041$5,508$3,468
10 years$7,074$6,394$5,773$5,208$4,693$2,781
11 years$6,365$5,692$5,083$4,532$4,036$2,247
12 years$5,775$5,109$4,511$3,975$3,498$1,826
13 years$5,276$4,617$4,030$3,510$3,050$1,491
14 years$4,849$4,197$3,621$3,115$2,674$1,223
15 years$4,479$3,834$3,269$2,778$2,354$1,006
16 years$4,156$3,518$2,964$2,488$2,081$829
17 years$3,871$3,240$2,697$2,235$1,845$685
18 years$3,618$2,993$2,462$2,014$1,640$567
19 years$3,391$2,774$2,254$1,820$1,462$469
20 years$3,188$2,578$2,069$1,649$1,306$389
21 years$3,004$2,401$1,903$1,496$1,169$323
22 years$2,837$2,242$1,754$1,360$1,048$269
23 years$2,685$2,096$1,619$1,239$940$223
24 years$2,546$1,964$1,497$1,130$845$186
25 years$2,418$1,843$1,387$1,032$761$155
26 years$2,300$1,732$1,286$944$685$129
27 years$2,192$1,630$1,194$864$618$107
28 years$2,091$1,536$1,110$791$557$89
29 years$1,997$1,449$1,033$726$503$74
30 years$1,909$1,369$963$666$455$62
31 years$1,828$1,294$897$612$411$52
32 years$1,751$1,224$837$562$372$43
33 years$1,680$1,159$782$517$337$36
34 years$1,613$1,099$730$476$305$30
35 years$1,549$1,042$683$438$276$25
36 years$1,490$989$639$403$250$21
37 years$1,434$940$598$371$227$17
38 years$1,380$893$560$342$205$14
39 years$1,330$849$525$316$186$12
40 years$1,282$808$492$291$169$10
41 years$1,237$769$461$269$153$8
42 years$1,194$732$432$248$139$7
43 years$1,153$698$406$229$126$6
44 years$1,114$665$381$211$115$5
45 years$1,077$634$358$195$104$4
46 years$1,042$605$336$180$94$3
47 years$1,008$577$316$167$86$3
48 years$976$551$297$154$78$2
49 years$945$526$279$142$71$2
50 years$916$503$262$131$64$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $938,000, adding $3,675 every year, while hoping to spend $36,672 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: 76/5/19 Blend
55$938,000$938,000$938,000$938,000
56$1,037,467$987,753$973,214$1,111,485
57$1,104,270$997,134$966,798$1,170,362
58$1,176,657$1,005,746$958,938$1,230,002
59$1,255,161$1,013,512$949,546$1,294,423
60$1,340,364$1,020,350$938,533$1,364,091
61$1,432,909$1,026,175$925,801$1,439,521
62$1,533,502$1,030,894$911,252$1,521,280
63$1,642,920$1,034,409$894,780$1,609,994
64$1,762,018$1,036,615$876,276$1,706,351
65$1,891,737$1,037,403$855,624$1,811,112
66$2,033,113$1,036,654$832,706$1,925,113
67$2,187,284$1,034,243$807,395$2,049,278
68$2,355,504$1,030,039$779,560$2,184,624
69$2,539,154$1,023,899$749,064$2,332,273
70$2,739,753$1,015,676$715,763$2,493,463
71$2,958,974$1,005,210$679,507$2,669,555
72$3,198,658$992,334$640,139$2,862,053
73$3,460,832$976,869$597,495$3,072,613
74$3,747,730$958,629$551,404$3,303,063
75$4,061,809$937,412$501,686$3,555,414
76$4,405,775$913,007$448,155$3,831,887
77$4,782,611$885,191$390,615$4,134,928
78$5,195,598$853,726$328,861$4,467,234
79$5,648,353$818,363$262,682$4,831,778
80$6,144,857$778,835$191,854$5,231,839
81$6,689,497$734,861$116,145$5,671,029
82$7,287,102$686,146$35,312$6,153,331
83$7,942,994$632,375$0$6,683,135
84$8,663,034$573,216$0$7,275,611
85$9,453,679$508,319$0$7,934,075
86$10,322,040$437,313$0$8,657,299
87$11,275,954$359,806$0$9,451,823
88$12,324,049$275,385$0$10,324,853
89$13,475,836$183,613$0$11,284,330
90$14,741,790$84,028$0$12,339,004
91$16,133,450$0$0$13,498,512
92$17,663,531$0$0$14,774,789
93$19,346,042$0$0$16,183,334
94$21,196,415$0$0$17,732,449
95$23,231,654$0$0$19,436,373
96$25,470,493$0$0$21,310,796
97$27,933,573$0$0$23,373,006
98$30,643,639$0$0$25,642,050
99$33,625,747$0$0$28,138,913
100$36,907,509$0$0$30,886,720