Can I retire at age 56 with 951,000?

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 $951,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.2%
1 years$78,533$77,833$77,151$76,485$75,834$73,911
2 years$38,878$38,154$37,452$36,771$36,111$34,186
3 years$25,661$24,934$24,234$23,560$22,911$21,044
4 years$19,054$18,329$17,636$16,974$16,340$14,546
5 years$15,091$14,370$13,686$13,037$12,421$10,705
6 years$12,449$11,734$11,061$10,426$9,829$8,191
7 years$10,564$9,854$9,191$8,572$7,993$6,436
8 years$9,150$8,447$7,795$7,191$6,631$5,152
9 years$8,051$7,355$6,714$6,125$5,584$4,183
10 years$7,172$6,483$5,853$5,280$4,758$3,433
11 years$6,454$5,771$5,153$4,595$4,092$2,841
12 years$5,855$5,180$4,573$4,030$3,546$2,366
13 years$5,350$4,681$4,086$3,558$3,092$1,982
14 years$4,916$4,255$3,671$3,159$2,711$1,667
15 years$4,541$3,887$3,315$2,817$2,387$1,407
16 years$4,213$3,566$3,005$2,522$2,109$1,192
17 years$3,924$3,284$2,735$2,266$1,870$1,011
18 years$3,668$3,035$2,496$2,042$1,663$860
19 years$3,438$2,813$2,285$1,845$1,482$733
20 years$3,232$2,614$2,097$1,671$1,324$625
21 years$3,046$2,435$1,929$1,517$1,185$534
22 years$2,877$2,273$1,778$1,379$1,062$457
23 years$2,723$2,126$1,642$1,256$953$391
24 years$2,581$1,992$1,518$1,146$857$335
25 years$2,452$1,869$1,406$1,046$771$287
26 years$2,332$1,756$1,304$957$695$246
27 years$2,222$1,653$1,211$876$626$211
28 years$2,120$1,558$1,126$802$565$182
29 years$2,024$1,469$1,048$736$510$156
30 years$1,936$1,388$976$675$461$134
31 years$1,853$1,312$910$620$417$115
32 years$1,776$1,241$849$570$377$99
33 years$1,703$1,176$793$524$341$85
34 years$1,635$1,114$741$482$309$73
35 years$1,571$1,057$692$444$280$63
36 years$1,510$1,003$648$409$254$54
37 years$1,453$953$606$377$230$46
38 years$1,399$905$568$347$208$40
39 years$1,348$861$532$320$189$34
40 years$1,300$819$499$295$171$30
41 years$1,254$780$467$272$155$25
42 years$1,211$743$438$251$141$22
43 years$1,169$707$411$232$128$19
44 years$1,130$674$386$214$116$16
45 years$1,092$643$363$198$105$14
46 years$1,057$613$341$183$96$12
47 years$1,022$585$320$169$87$10
48 years$990$559$301$156$79$9
49 years$958$534$283$144$72$8
50 years$929$510$266$133$65$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $951,000, adding $3,715 every year, while hoping to spend $33,331 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: 52/24/24 Blend
55$951,000$951,000$951,000$951,000
56$1,051,834$1,001,431$986,691$1,099,323
57$1,123,657$1,015,037$984,281$1,146,170
58$1,201,689$1,028,193$980,673$1,193,385
59$1,286,528$1,040,841$975,792$1,244,058
60$1,378,832$1,052,920$969,559$1,298,534
61$1,479,325$1,064,366$961,892$1,357,189
62$1,588,803$1,075,107$952,702$1,420,442
63$1,708,144$1,085,070$941,901$1,488,753
64$1,838,312$1,094,176$929,392$1,562,632
65$1,980,369$1,102,339$915,076$1,642,642
66$2,135,485$1,109,472$898,848$1,729,404
67$2,304,945$1,115,477$880,600$1,823,605
68$2,490,167$1,120,252$860,218$1,926,002
69$2,692,710$1,123,691$837,582$2,037,433
70$2,914,292$1,125,677$812,566$2,158,821
71$3,156,803$1,126,089$785,040$2,291,188
72$3,422,326$1,124,796$754,868$2,435,659
73$3,713,153$1,121,662$721,907$2,593,479
74$4,031,810$1,116,538$686,006$2,766,022
75$4,381,078$1,109,271$647,010$2,954,802
76$4,764,018$1,099,696$604,755$3,161,492
77$5,184,004$1,087,638$559,071$3,387,941
78$5,644,752$1,072,911$509,779$3,636,185
79$6,150,353$1,055,321$456,693$3,908,475
80$6,705,316$1,034,658$399,619$4,207,293
81$7,314,605$1,010,703$338,353$4,535,379
82$7,983,690$983,223$272,683$4,895,755
83$8,718,596$951,970$202,388$5,291,758
84$9,525,960$916,684$127,235$5,727,068
85$10,413,095$877,088$46,984$6,205,746
86$11,388,055$832,890$0$6,732,271
87$12,459,715$783,780$0$7,321,485
88$13,637,852$729,431$0$7,982,426
89$14,933,237$669,498$0$8,709,133
90$16,357,738$603,613$0$9,508,313
91$17,924,429$531,392$0$10,387,363
92$19,647,715$452,425$0$11,354,433
93$21,543,470$366,282$0$12,418,509
94$23,629,179$272,505$0$13,589,496
95$25,924,112$170,614$0$14,878,316
96$28,449,497$60,100$0$16,297,004
97$31,228,727$0$0$17,858,829
98$34,287,576$0$0$19,594,150
99$37,654,444$0$0$21,521,799
100$41,360,622$0$0$23,643,833