Can I retire at age 56 with 961,000?

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 $961,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.4%
1 years$79,358$78,652$77,962$77,289$76,631$74,030
2 years$39,286$38,555$37,846$37,158$36,491$33,897
3 years$25,931$25,196$24,489$23,808$23,152$20,645
4 years$19,254$18,522$17,821$17,152$16,512$14,113
5 years$15,249$14,521$13,830$13,174$12,552$10,267
6 years$12,580$11,858$11,177$10,536$9,932$7,762
7 years$10,675$9,958$9,288$8,662$8,077$6,022
8 years$9,246$8,536$7,877$7,266$6,701$4,759
9 years$8,135$7,432$6,784$6,189$5,643$3,813
10 years$7,248$6,551$5,915$5,335$4,808$3,086
11 years$6,522$5,832$5,207$4,643$4,135$2,518
12 years$5,917$5,234$4,621$4,073$3,584$2,067
13 years$5,406$4,730$4,129$3,596$3,125$1,706
14 years$4,968$4,300$3,710$3,192$2,739$1,413
15 years$4,589$3,928$3,349$2,847$2,412$1,175
16 years$4,258$3,604$3,037$2,549$2,132$979
17 years$3,966$3,319$2,763$2,290$1,890$818
18 years$3,706$3,067$2,523$2,064$1,681$684
19 years$3,474$2,842$2,309$1,865$1,498$573
20 years$3,266$2,641$2,119$1,689$1,338$481
21 years$3,078$2,460$1,949$1,533$1,197$404
22 years$2,907$2,297$1,797$1,394$1,073$340
23 years$2,751$2,148$1,659$1,269$963$286
24 years$2,609$2,012$1,534$1,158$866$241
25 years$2,478$1,889$1,421$1,057$779$203
26 years$2,357$1,775$1,318$967$702$171
27 years$2,245$1,670$1,224$885$633$144
28 years$2,142$1,574$1,138$811$571$121
29 years$2,046$1,485$1,059$743$516$102
30 years$1,956$1,402$986$682$466$86
31 years$1,873$1,326$919$627$421$73
32 years$1,794$1,254$858$576$381$62
33 years$1,721$1,188$801$530$345$52
34 years$1,652$1,126$748$487$312$44
35 years$1,587$1,068$700$449$283$37
36 years$1,526$1,014$654$413$256$31
37 years$1,469$963$613$381$232$26
38 years$1,414$915$574$351$211$22
39 years$1,363$870$537$323$191$19
40 years$1,314$828$504$298$173$16
41 years$1,268$788$472$275$157$13
42 years$1,223$750$443$254$143$11
43 years$1,182$715$416$235$129$10
44 years$1,142$681$390$217$117$8
45 years$1,104$650$366$200$107$7
46 years$1,068$620$344$185$97$6
47 years$1,033$592$323$171$88$5
48 years$1,000$565$304$158$80$4
49 years$968$539$286$146$72$3
50 years$938$515$269$135$66$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $961,000, adding $6,089 every year, while hoping to spend $53,957 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: 59/17/24 Blend
55$961,000$961,000$961,000$961,000
56$1,065,303$1,014,370$999,474$1,120,960
57$1,116,554$1,006,664$975,547$1,151,849
58$1,171,224$996,772$949,009$1,179,186
59$1,229,605$984,531$919,718$1,207,839
60$1,292,017$969,765$887,520$1,237,946
61$1,358,811$952,291$852,260$1,269,663
62$1,430,370$931,913$813,771$1,303,165
63$1,507,116$908,426$771,881$1,338,647
64$1,589,512$881,609$726,409$1,376,325
65$1,678,065$851,231$677,167$1,416,441
66$1,773,334$817,047$623,958$1,459,266
67$1,875,929$778,797$566,575$1,505,100
68$1,986,522$736,207$504,805$1,554,278
69$2,105,853$688,987$438,421$1,607,173
70$2,234,732$636,829$367,190$1,664,198
71$2,374,049$579,408$290,866$1,725,816
72$2,524,786$516,383$209,193$1,792,538
73$2,688,018$447,389$121,905$1,864,934
74$2,864,929$372,045$28,722$1,943,637
75$3,056,822$289,945$0$2,029,347
76$3,265,127$200,661$0$2,140,956
77$3,491,419$103,743$0$2,270,245
78$3,737,430$0$0$2,410,890
79$4,005,066$0$0$2,564,281
80$4,296,423$0$0$2,752,464
81$4,613,808$0$0$2,957,530
82$4,959,759$0$0$3,181,129
83$5,337,071$0$0$3,425,076
84$5,748,818$0$0$3,691,368
85$6,198,385$0$0$3,982,206
86$6,689,499$0$0$4,300,011
87$7,226,261$0$0$4,647,448
88$7,813,187$0$0$5,027,451
89$8,455,249$0$0$5,443,253
90$9,157,924$0$0$5,898,411
91$9,927,238$0$0$6,396,844
92$10,769,832$0$0$6,942,866
93$11,693,016$0$0$7,541,228
94$12,704,842$0$0$8,197,165
95$13,814,176$0$0$8,916,439
96$15,030,786$0$0$9,705,398
97$16,365,428$0$0$10,571,036
98$17,829,952$0$0$11,521,052
99$19,437,407$0$0$12,563,931
100$21,202,169$0$0$13,709,017