Can I retire at age 56 with 959,000?

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 $959,000?

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$79,193$78,488$77,800$77,128$76,472$74,533
2 years$39,205$38,474$37,767$37,081$36,415$34,474
3 years$25,877$25,143$24,438$23,758$23,103$21,221
4 years$19,214$18,483$17,784$17,116$16,477$14,668
5 years$15,218$14,491$13,801$13,147$12,526$10,795
6 years$12,554$11,833$11,154$10,514$9,911$8,260
7 years$10,652$9,937$9,269$8,644$8,061$6,490
8 years$9,227$8,518$7,861$7,251$6,687$5,196
9 years$8,119$7,417$6,770$6,176$5,631$4,218
10 years$7,232$6,537$5,903$5,324$4,798$3,462
11 years$6,508$5,820$5,196$4,634$4,127$2,864
12 years$5,905$5,224$4,612$4,064$3,576$2,386
13 years$5,395$4,721$4,120$3,588$3,118$1,998
14 years$4,958$4,291$3,702$3,185$2,734$1,681
15 years$4,579$3,920$3,342$2,841$2,407$1,419
16 years$4,249$3,596$3,030$2,543$2,127$1,202
17 years$3,957$3,312$2,758$2,285$1,886$1,020
18 years$3,698$3,061$2,517$2,059$1,677$868
19 years$3,467$2,836$2,304$1,861$1,495$739
20 years$3,259$2,636$2,115$1,685$1,335$631
21 years$3,071$2,455$1,945$1,530$1,195$539
22 years$2,901$2,292$1,793$1,391$1,071$461
23 years$2,745$2,143$1,655$1,267$961$395
24 years$2,603$2,008$1,531$1,155$864$338
25 years$2,472$1,885$1,418$1,055$778$290
26 years$2,352$1,771$1,315$965$700$249
27 years$2,241$1,667$1,221$883$631$213
28 years$2,137$1,571$1,135$809$570$183
29 years$2,041$1,482$1,056$742$515$157
30 years$1,952$1,399$984$681$465$135
31 years$1,869$1,323$917$625$420$116
32 years$1,791$1,252$856$575$380$100
33 years$1,717$1,185$799$528$344$86
34 years$1,649$1,124$747$486$312$74
35 years$1,584$1,066$698$448$282$63
36 years$1,523$1,011$653$412$256$54
37 years$1,466$961$611$380$232$47
38 years$1,411$913$572$350$210$40
39 years$1,360$868$536$323$190$35
40 years$1,311$826$503$298$173$30
41 years$1,265$786$471$275$157$26
42 years$1,221$749$442$254$142$22
43 years$1,179$713$415$234$129$19
44 years$1,139$680$389$216$117$16
45 years$1,102$649$366$200$106$14
46 years$1,065$619$343$184$97$12
47 years$1,031$590$323$170$88$10
48 years$998$564$303$157$80$9
49 years$966$538$285$145$72$8
50 years$936$514$268$134$66$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $959,000, adding $4,570 every year, while hoping to spend $36,818 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: 44/26/30 Blend
55$959,000$959,000$959,000$959,000
56$1,061,532$1,010,705$995,840$1,098,817
57$1,130,634$1,021,055$990,027$1,136,313
58$1,205,551$1,030,679$982,785$1,173,102
59$1,286,836$1,039,501$974,027$1,212,292
60$1,375,099$1,047,443$963,663$1,254,131
61$1,471,011$1,054,420$951,598$1,298,890
62$1,575,310$1,060,341$937,731$1,346,873
63$1,688,805$1,065,112$921,959$1,398,413
64$1,812,391$1,068,630$904,172$1,453,882
65$1,947,049$1,070,787$884,257$1,513,693
66$2,093,861$1,071,469$862,092$1,578,300
67$2,254,016$1,070,552$837,554$1,648,208
68$2,428,825$1,067,908$810,511$1,723,977
69$2,619,728$1,063,399$780,826$1,806,226
70$2,828,313$1,056,878$748,356$1,895,641
71$3,056,327$1,048,191$712,953$1,992,979
72$3,305,694$1,037,174$674,458$2,099,080
73$3,578,531$1,023,652$632,708$2,214,874
74$3,877,170$1,007,440$587,533$2,341,387
75$4,204,180$988,343$538,754$2,479,757
76$4,562,389$966,154$486,185$2,631,240
77$4,954,910$940,654$429,630$2,797,227
78$5,385,174$911,609$368,886$2,979,253
79$5,856,959$878,774$303,740$3,179,018
80$6,374,424$841,889$233,970$3,398,400
81$6,942,152$800,678$159,345$3,639,473
82$7,565,190$754,851$79,622$3,904,530
83$8,249,099$704,098$0$4,196,107
84$9,000,003$648,095$0$4,518,747
85$9,824,649$586,497$0$4,901,110
86$10,730,468$518,940$0$5,321,185
87$11,725,646$445,039$0$5,782,836
88$12,819,204$364,388$0$6,290,325
89$14,021,078$276,558$0$6,848,353
90$15,342,214$181,095$0$7,462,102
91$16,794,671$77,520$0$8,137,288
92$18,391,738$0$0$8,880,216
93$20,148,051$0$0$9,707,756
94$22,079,739$0$0$10,642,452
95$24,204,572$0$0$11,670,738
96$26,542,128$0$0$12,802,107
97$29,113,979$0$0$14,047,015
98$31,943,892$0$0$15,416,985
99$35,058,055$0$0$16,924,713
100$38,485,322$0$0$18,584,189