Can I retire at age 56 with 979,000?

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 $979,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.8%
1 years$80,845$80,125$79,422$78,736$78,067$74,999
2 years$40,022$39,277$38,554$37,854$37,175$34,121
3 years$26,416$25,668$24,947$24,253$23,585$20,643
4 years$19,615$18,869$18,155$17,473$16,821$14,012
5 years$15,535$14,793$14,089$13,421$12,787$10,118
6 years$12,816$12,080$11,386$10,733$10,118$7,591
7 years$10,875$10,145$9,462$8,824$8,229$5,843
8 years$9,419$8,696$8,024$7,402$6,826$4,579
9 years$8,288$7,571$6,911$6,305$5,749$3,637
10 years$7,383$6,674$6,026$5,435$4,898$2,918
11 years$6,644$5,941$5,305$4,730$4,213$2,359
12 years$6,028$5,332$4,708$4,149$3,651$1,919
13 years$5,507$4,819$4,206$3,663$3,183$1,568
14 years$5,061$4,380$3,779$3,252$2,791$1,286
15 years$4,675$4,002$3,412$2,900$2,457$1,059
16 years$4,337$3,671$3,094$2,596$2,172$873
17 years$4,040$3,381$2,815$2,333$1,925$722
18 years$3,776$3,124$2,570$2,102$1,712$598
19 years$3,540$2,896$2,353$1,900$1,526$496
20 years$3,327$2,691$2,159$1,721$1,363$412
21 years$3,136$2,506$1,986$1,562$1,220$342
22 years$2,961$2,340$1,830$1,420$1,093$284
23 years$2,803$2,188$1,690$1,293$981$237
24 years$2,657$2,050$1,563$1,179$882$197
25 years$2,524$1,924$1,448$1,077$794$164
26 years$2,401$1,808$1,343$985$715$137
27 years$2,287$1,702$1,247$901$645$114
28 years$2,182$1,604$1,159$826$582$95
29 years$2,084$1,513$1,079$757$525$79
30 years$1,993$1,429$1,005$695$475$66
31 years$1,908$1,351$937$638$429$55
32 years$1,828$1,278$874$587$388$46
33 years$1,753$1,210$816$539$351$38
34 years$1,683$1,147$762$496$318$32
35 years$1,617$1,088$713$457$288$27
36 years$1,555$1,033$667$421$261$22
37 years$1,496$981$624$388$237$19
38 years$1,441$932$584$357$214$16
39 years$1,388$886$548$330$194$13
40 years$1,338$843$513$304$176$11
41 years$1,291$803$481$280$160$9
42 years$1,246$764$451$259$145$8
43 years$1,204$728$424$239$132$6
44 years$1,163$694$398$221$120$5
45 years$1,125$662$373$204$109$4
46 years$1,088$632$351$188$99$4
47 years$1,052$603$329$174$90$3
48 years$1,019$575$310$161$81$3
49 years$987$549$291$148$74$2
50 years$956$525$274$137$67$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $979,000, adding $3,254 every year, while hoping to spend $37,224 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: 48/27/25 Blend
55$979,000$979,000$979,000$979,000
56$1,082,215$1,030,328$1,015,153$1,126,321
57$1,152,994$1,041,208$1,009,555$1,168,428
58$1,229,746$1,051,373$1,002,521$1,210,176
59$1,313,040$1,060,750$993,965$1,254,771
60$1,403,502$1,069,259$983,795$1,302,498
61$1,501,822$1,076,815$971,915$1,353,672
62$1,608,758$1,083,329$958,224$1,408,645
63$1,725,145$1,088,706$942,618$1,467,802
64$1,851,901$1,092,844$924,987$1,531,573
65$1,990,035$1,095,634$905,215$1,600,432
66$2,140,661$1,096,961$883,181$1,674,903
67$2,305,000$1,096,705$858,760$1,755,566
68$2,484,402$1,094,735$831,820$1,843,064
69$2,680,347$1,090,913$802,223$1,938,105
70$2,894,469$1,085,095$769,823$2,041,475
71$3,128,564$1,077,123$734,472$2,154,042
72$3,384,611$1,066,836$696,010$2,276,766
73$3,664,788$1,054,057$654,273$2,410,705
74$3,971,494$1,038,604$609,089$2,557,033
75$4,307,370$1,020,279$560,277$2,717,046
76$4,675,325$998,876$507,650$2,892,174
77$5,078,563$974,176$451,010$3,083,999
78$5,520,611$945,945$390,154$3,294,269
79$6,005,355$913,938$324,866$3,524,914
80$6,537,075$877,895$254,922$3,778,066
81$7,120,484$837,539$180,090$4,056,081
82$7,760,775$792,580$100,124$4,361,560
83$8,463,666$742,708$14,770$4,697,374
84$9,235,458$687,599$0$5,066,695
85$10,083,090$626,907$0$5,493,384
86$11,014,208$560,268$0$5,966,475
87$12,037,233$487,297$0$6,486,371
88$13,161,443$407,587$0$7,057,863
89$14,397,059$320,708$0$7,686,235
90$15,755,343$226,206$0$8,377,315
91$17,248,700$123,602$0$9,137,528
92$18,890,798$12,389$0$9,973,961
93$20,696,696$0$0$10,894,427
94$22,682,985$0$0$11,939,618
95$24,867,946$0$0$13,093,524
96$27,271,718$0$0$14,363,113
97$29,916,493$0$0$15,760,124
98$32,826,721$0$0$17,297,486
99$36,029,344$0$0$18,989,450
100$39,554,044$0$0$20,851,713