Can I retire at age 56 with 955,000?

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 $955,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.5%
1 years$78,863$78,161$77,475$76,806$76,153$74,433
2 years$39,041$38,314$37,609$36,926$36,263$34,540
3 years$25,769$25,039$24,336$23,659$23,007$21,333
4 years$19,134$18,406$17,710$17,045$16,409$14,798
5 years$15,154$14,431$13,744$13,092$12,474$10,931
6 years$12,502$11,784$11,107$10,470$9,870$8,396
7 years$10,608$9,896$9,230$8,608$8,027$6,623
8 years$9,188$8,483$7,828$7,221$6,659$5,324
9 years$8,085$7,386$6,742$6,151$5,608$4,341
10 years$7,202$6,510$5,878$5,302$4,778$3,577
11 years$6,481$5,796$5,175$4,614$4,109$2,974
12 years$5,880$5,202$4,592$4,047$3,561$2,489
13 years$5,372$4,701$4,103$3,573$3,105$2,094
14 years$4,937$4,273$3,687$3,172$2,722$1,770
15 years$4,560$3,903$3,329$2,829$2,397$1,501
16 years$4,231$3,581$3,018$2,533$2,118$1,278
17 years$3,941$3,298$2,746$2,276$1,878$1,090
18 years$3,683$3,048$2,507$2,051$1,670$932
19 years$3,453$2,825$2,295$1,853$1,489$798
20 years$3,246$2,625$2,106$1,678$1,330$685
21 years$3,059$2,445$1,937$1,523$1,190$588
22 years$2,889$2,282$1,785$1,385$1,067$506
23 years$2,734$2,134$1,649$1,261$957$435
24 years$2,592$2,000$1,525$1,150$861$375
25 years$2,462$1,877$1,412$1,051$774$323
26 years$2,342$1,764$1,310$961$697$279
27 years$2,231$1,660$1,216$879$629$241
28 years$2,128$1,564$1,131$806$567$208
29 years$2,033$1,476$1,052$739$512$179
30 years$1,944$1,394$980$678$463$155
31 years$1,861$1,317$914$623$419$134
32 years$1,783$1,247$852$572$379$116
33 years$1,710$1,181$796$526$343$100
34 years$1,642$1,119$744$484$310$87
35 years$1,577$1,061$695$446$281$75
36 years$1,517$1,007$650$411$255$65
37 years$1,460$957$609$378$231$56
38 years$1,405$909$570$349$209$49
39 years$1,354$865$534$321$190$42
40 years$1,306$823$501$296$172$36
41 years$1,260$783$469$274$156$31
42 years$1,216$746$440$252$142$27
43 years$1,174$710$413$233$129$24
44 years$1,135$677$388$215$117$20
45 years$1,097$646$364$199$106$18
46 years$1,061$616$342$184$96$15
47 years$1,027$588$321$170$87$13
48 years$994$561$302$157$79$11
49 years$962$536$284$145$72$10
50 years$932$512$267$134$65$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $955,000, adding $4,547 every year, while hoping to spend $49,789 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: 49/24/27 Blend
55$955,000$955,000$955,000$955,000
56$1,057,100$1,006,485$991,683$1,100,598
57$1,111,949$1,002,828$971,929$1,127,864
58$1,170,724$997,323$949,845$1,152,171
59$1,233,773$989,826$925,299$1,177,601
60$1,301,477$980,187$898,156$1,204,285
61$1,374,256$968,244$868,273$1,232,368
62$1,452,569$953,827$835,499$1,262,014
63$1,536,921$936,755$799,678$1,293,407
64$1,627,867$916,836$760,647$1,326,752
65$1,726,017$893,868$718,236$1,362,281
66$1,832,039$867,636$672,265$1,400,250
67$1,946,669$837,912$622,548$1,440,947
68$2,070,716$804,457$568,890$1,484,696
69$2,205,069$767,015$511,088$1,531,854
70$2,350,704$725,317$448,928$1,582,822
71$2,508,697$679,078$382,188$1,638,047
72$2,680,229$627,998$310,636$1,698,028
73$2,866,601$571,758$234,031$1,763,317
74$3,069,241$510,021$152,118$1,834,532
75$3,289,723$442,432$64,633$1,912,360
76$3,529,778$368,615$0$1,997,564
77$3,791,311$288,173$0$2,099,268
78$4,076,418$200,686$0$2,230,548
79$4,387,404$105,711$0$2,373,897
80$4,726,810$2,781$0$2,530,568
81$5,097,429$0$0$2,701,945
82$5,502,339$0$0$2,918,238
83$5,944,927$0$0$3,155,560
84$6,428,920$0$0$3,415,187
85$6,958,426$0$0$3,699,336
86$7,537,965$0$0$4,010,446
87$8,172,515$0$0$4,351,204
88$8,867,558$0$0$4,724,567
89$9,629,131$0$0$5,133,793
90$10,463,882$0$0$5,582,471
91$11,379,135$0$0$6,074,553
92$12,382,952$0$0$6,614,391
93$13,484,219$0$0$7,206,780
94$14,692,718$0$0$7,857,001
95$16,019,227$0$0$8,570,871
96$17,475,617$0$0$9,354,798
97$19,074,966$0$0$10,215,841
98$20,831,678$0$0$11,161,776
99$22,761,624$0$0$12,201,170
100$24,882,285$0$0$13,343,461