Can I retire at age 56 with 972,000?

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 $972,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.2%
1 years$80,267$79,552$78,854$78,173$77,509$77,117
2 years$39,736$38,996$38,279$37,583$36,909$36,514
3 years$26,228$25,484$24,769$24,080$23,417$23,030
4 years$19,475$18,734$18,025$17,348$16,701$16,326
5 years$15,424$14,687$13,988$13,325$12,696$12,334
6 years$12,724$11,993$11,305$10,656$10,046$9,697
7 years$10,797$10,072$9,394$8,761$8,170$7,834
8 years$9,352$8,634$7,967$7,349$6,778$6,455
9 years$8,229$7,517$6,862$6,260$5,708$5,399
10 years$7,330$6,626$5,983$5,396$4,863$4,567
11 years$6,596$5,899$5,267$4,696$4,183$3,900
12 years$5,985$5,294$4,674$4,119$3,625$3,354
13 years$5,468$4,785$4,176$3,637$3,161$2,903
14 years$5,025$4,349$3,752$3,228$2,771$2,525
15 years$4,641$3,973$3,388$2,879$2,439$2,206
16 years$4,306$3,645$3,072$2,578$2,156$1,934
17 years$4,011$3,357$2,795$2,316$1,912$1,701
18 years$3,749$3,102$2,551$2,087$1,700$1,500
19 years$3,514$2,875$2,336$1,886$1,515$1,326
20 years$3,304$2,671$2,144$1,708$1,353$1,174
21 years$3,113$2,488$1,972$1,550$1,211$1,041
22 years$2,940$2,323$1,817$1,410$1,086$925
23 years$2,783$2,172$1,678$1,284$974$823
24 years$2,638$2,035$1,552$1,171$876$733
25 years$2,506$1,910$1,437$1,069$788$654
26 years$2,384$1,795$1,333$978$710$583
27 years$2,271$1,690$1,238$895$640$521
28 years$2,166$1,592$1,151$820$578$466
29 years$2,069$1,502$1,071$752$521$417
30 years$1,979$1,418$997$690$471$373
31 years$1,894$1,341$930$634$426$334
32 years$1,815$1,269$868$582$385$299
33 years$1,741$1,202$810$536$349$268
34 years$1,671$1,139$757$493$316$240
35 years$1,606$1,080$708$454$286$215
36 years$1,544$1,025$662$418$259$193
37 years$1,485$974$620$385$235$173
38 years$1,430$925$580$355$213$156
39 years$1,378$880$544$327$193$140
40 years$1,329$837$510$302$175$125
41 years$1,282$797$478$278$159$113
42 years$1,237$759$448$257$144$101
43 years$1,195$723$421$237$131$91
44 years$1,155$689$395$219$119$82
45 years$1,116$657$371$202$108$73
46 years$1,080$627$348$187$98$66
47 years$1,045$598$327$173$89$59
48 years$1,012$571$307$159$81$53
49 years$980$545$289$147$73$48
50 years$949$521$272$136$67$43

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $972,000, adding $5,092 every year, while hoping to spend $52,980 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: 49/34/17 Blend
55$972,000$972,000$972,000$972,000
56$1,076,396$1,024,880$1,009,814$1,123,806
57$1,129,819$1,018,729$987,273$1,150,956
58$1,186,914$1,010,501$962,201$1,174,575
59$1,248,002$1,000,038$934,457$1,199,087
60$1,313,431$987,173$903,894$1,224,596
61$1,383,585$971,729$870,359$1,251,219
62$1,458,885$953,518$833,690$1,279,087
63$1,539,792$932,341$793,719$1,308,350
64$1,626,813$907,987$750,271$1,339,174
65$1,720,503$880,234$703,160$1,371,749
66$1,821,474$848,845$652,196$1,406,287
67$1,930,397$813,571$597,177$1,443,025
68$2,048,009$774,147$537,894$1,482,232
69$2,175,119$730,294$474,127$1,524,205
70$2,312,619$681,716$405,647$1,569,281
71$2,461,486$628,100$332,216$1,617,835
72$2,622,796$569,116$253,584$1,670,285
73$2,797,733$504,414$169,491$1,727,100
74$2,987,596$433,625$79,663$1,788,803
75$3,193,817$356,358$0$1,855,979
76$3,417,970$272,203$0$1,932,216
77$3,661,785$180,723$0$2,030,913
78$3,927,167$81,459$0$2,138,470
79$4,216,213$0$0$2,255,844
80$4,531,228$0$0$2,393,853
81$4,874,751$0$0$2,577,681
82$5,249,576$0$0$2,778,360
83$5,658,777$0$0$2,997,546
84$6,105,740$0$0$3,237,068
85$6,594,191$0$0$3,498,934
86$7,128,231$0$0$3,785,359
87$7,712,380$0$0$4,098,780
88$8,351,609$0$0$4,441,879
89$9,051,395$0$0$4,817,614
90$9,817,769$0$0$5,229,236
91$10,657,372$0$0$5,680,332
92$11,577,517$0$0$6,174,847
93$12,586,260$0$0$6,717,130
94$13,692,471$0$0$7,311,967
95$14,905,922$0$0$7,964,633
96$16,237,374$0$0$8,680,936
97$17,698,683$0$0$9,467,275
98$19,302,906$0$0$10,330,699
99$21,064,426$0$0$11,278,972
100$22,999,090$0$0$12,320,646