Can I retire at age 56 with 956,000?

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 $956,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13%
1 years$78,946$78,242$77,556$76,887$76,233$75,280
2 years$39,082$38,354$37,649$36,965$36,301$35,343
3 years$25,796$25,065$24,361$23,684$23,031$22,096
4 years$19,154$18,425$17,729$17,063$16,426$15,522
5 years$15,170$14,446$13,758$13,106$12,487$11,617
6 years$12,515$11,796$11,119$10,481$9,880$9,045
7 years$10,619$9,906$9,240$8,617$8,035$7,235
8 years$9,198$8,491$7,836$7,228$6,666$5,901
9 years$8,093$7,393$6,749$6,157$5,614$4,883
10 years$7,210$6,517$5,884$5,307$4,783$4,087
11 years$6,488$5,802$5,180$4,619$4,114$3,451
12 years$5,886$5,207$4,597$4,052$3,565$2,935
13 years$5,378$4,706$4,107$3,577$3,109$2,511
14 years$4,942$4,277$3,691$3,175$2,725$2,158
15 years$4,565$3,908$3,332$2,832$2,399$1,863
16 years$4,235$3,585$3,021$2,535$2,121$1,613
17 years$3,945$3,302$2,749$2,278$1,880$1,401
18 years$3,687$3,051$2,509$2,053$1,672$1,220
19 years$3,456$2,828$2,297$1,855$1,490$1,064
20 years$3,249$2,628$2,108$1,680$1,331$930
21 years$3,062$2,447$1,939$1,525$1,191$814
22 years$2,892$2,285$1,787$1,386$1,068$714
23 years$2,737$2,137$1,650$1,263$958$626
24 years$2,595$2,002$1,526$1,152$861$550
25 years$2,465$1,879$1,414$1,052$775$484
26 years$2,345$1,766$1,311$962$698$426
27 years$2,234$1,662$1,217$880$630$375
28 years$2,131$1,566$1,132$806$568$330
29 years$2,035$1,477$1,053$740$513$291
30 years$1,946$1,395$981$679$463$257
31 years$1,863$1,319$915$623$419$227
32 years$1,785$1,248$853$573$379$200
33 years$1,712$1,182$797$527$343$177
34 years$1,644$1,120$744$485$311$156
35 years$1,579$1,062$696$446$281$138
36 years$1,518$1,008$651$411$255$122
37 years$1,461$958$609$379$231$108
38 years$1,407$910$571$349$209$95
39 years$1,356$865$535$322$190$84
40 years$1,307$823$501$297$172$74
41 years$1,261$784$470$274$156$66
42 years$1,217$746$441$253$142$58
43 years$1,175$711$414$233$129$51
44 years$1,136$678$388$215$117$45
45 years$1,098$646$365$199$106$40
46 years$1,062$617$342$184$96$36
47 years$1,028$589$322$170$87$31
48 years$995$562$302$157$79$28
49 years$963$537$284$145$72$25
50 years$933$513$267$134$65$22

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $956,000, adding $3,206 every year, while hoping to spend $22,271 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: 89/5/6 Blend
55$956,000$956,000$956,000$956,000
56$1,056,819$1,006,151$991,333$1,150,437
57$1,140,918$1,031,756$1,000,846$1,237,425
58$1,232,849$1,057,870$1,009,932$1,329,593
59$1,333,388$1,084,493$1,018,552$1,430,203
60$1,443,386$1,111,626$1,026,667$1,540,090
61$1,563,786$1,139,270$1,034,235$1,660,172
62$1,695,621$1,167,423$1,041,210$1,791,463
63$1,840,032$1,196,084$1,047,548$1,935,078
64$1,998,273$1,225,251$1,053,200$2,092,244
65$2,171,728$1,254,919$1,058,113$2,264,314
66$2,361,918$1,285,084$1,062,234$2,452,778
67$2,570,522$1,315,741$1,065,506$2,659,276
68$2,799,385$1,346,882$1,067,870$2,885,617
69$3,050,542$1,378,499$1,069,264$3,133,792
70$3,326,234$1,410,582$1,069,621$3,405,993
71$3,628,929$1,443,120$1,068,873$3,704,637
72$3,961,347$1,476,100$1,066,947$4,032,387
73$4,326,483$1,509,508$1,063,769$4,392,173
74$4,727,638$1,543,327$1,059,258$4,787,228
75$5,168,445$1,577,538$1,053,331$5,221,110
76$5,652,910$1,612,121$1,045,902$5,697,741
77$6,185,445$1,647,053$1,036,877$6,221,442
78$6,770,910$1,682,309$1,026,163$6,796,972
79$7,414,662$1,717,861$1,013,658$7,429,576
80$8,122,599$1,753,678$999,257$8,125,033
81$8,901,223$1,789,726$982,851$8,889,710
82$9,757,695$1,825,970$964,324$9,730,622
83$10,699,906$1,862,369$943,555$10,655,499
84$11,736,551$1,898,880$920,419$11,672,860
85$12,877,209$1,935,455$894,783$12,792,087
86$14,132,436$1,972,044$866,509$14,023,524
87$15,513,861$2,008,590$835,454$15,378,564
88$17,034,298$2,045,035$801,465$16,869,763
89$18,707,869$2,081,313$764,386$18,510,956
90$20,550,129$2,117,356$724,051$20,317,390
91$22,578,223$2,153,087$680,287$22,305,862
92$24,811,040$2,188,426$632,915$24,494,884
93$27,269,394$2,223,287$581,746$26,904,854
94$29,976,220$2,257,576$526,583$29,558,250
95$32,956,792$2,291,194$467,220$32,479,841
96$36,238,955$2,324,034$403,443$35,696,921
97$39,853,398$2,355,981$335,027$39,239,565
98$43,833,933$2,386,912$261,739$43,140,918
99$48,217,820$2,416,697$183,334$47,437,500
100$53,046,118$2,445,196$99,555$52,169,560