Can I retire at age 56 with 995,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $995,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.3%
1 years$82,166$81,434$80,720$80,023$79,343$76,988
2 years$40,676$39,919$39,185$38,473$37,782$35,429
3 years$26,848$26,087$25,355$24,650$23,971$21,693
4 years$19,935$19,177$18,452$17,759$17,096$14,912
5 years$15,789$15,035$14,319$13,640$12,996$10,911
6 years$13,025$12,277$11,572$10,908$10,283$8,299
7 years$11,052$10,310$9,617$8,968$8,363$6,480
8 years$9,573$8,838$8,156$7,523$6,938$5,154
9 years$8,423$7,695$7,024$6,408$5,843$4,157
10 years$7,504$6,783$6,124$5,524$4,978$3,388
11 years$6,752$6,038$5,392$4,808$4,282$2,784
12 years$6,126$5,420$4,785$4,217$3,710$2,302
13 years$5,597$4,898$4,275$3,723$3,235$1,914
14 years$5,144$4,452$3,841$3,305$2,836$1,598
15 years$4,751$4,067$3,468$2,947$2,497$1,338
16 years$4,408$3,731$3,144$2,639$2,207$1,124
17 years$4,106$3,436$2,861$2,371$1,957$947
18 years$3,837$3,175$2,612$2,137$1,740$799
19 years$3,597$2,943$2,391$1,931$1,551$675
20 years$3,382$2,735$2,194$1,749$1,385$571
21 years$3,187$2,547$2,018$1,587$1,240$484
22 years$3,010$2,378$1,860$1,443$1,111$410
23 years$2,849$2,224$1,718$1,314$997$348
24 years$2,701$2,084$1,588$1,199$897$296
25 years$2,565$1,955$1,471$1,095$807$251
26 years$2,440$1,838$1,365$1,001$727$214
27 years$2,325$1,730$1,267$916$655$182
28 years$2,218$1,630$1,178$839$591$155
29 years$2,118$1,537$1,096$770$534$132
30 years$2,025$1,452$1,021$706$482$112
31 years$1,939$1,373$952$649$436$95
32 years$1,858$1,299$888$596$394$81
33 years$1,782$1,230$829$548$357$69
34 years$1,711$1,166$775$504$323$59
35 years$1,644$1,106$724$464$293$50
36 years$1,580$1,049$678$428$265$43
37 years$1,521$997$634$394$240$36
38 years$1,464$947$594$363$218$31
39 years$1,411$901$556$335$198$26
40 years$1,360$857$522$309$179$23
41 years$1,312$816$489$285$163$19
42 years$1,267$777$459$263$148$16
43 years$1,223$740$430$243$134$14
44 years$1,182$706$404$224$122$12
45 years$1,143$673$379$207$110$10
46 years$1,105$642$356$191$100$9
47 years$1,070$613$335$177$91$7
48 years$1,035$585$315$163$83$6
49 years$1,003$558$296$151$75$5
50 years$971$533$278$139$68$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $995,000, adding $3,605 every year, while hoping to spend $26,448 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: 63/20/17 Blend
55$995,000$995,000$995,000$995,000
56$1,100,209$1,047,474$1,032,051$1,164,620
57$1,184,289$1,070,659$1,038,484$1,231,530
58$1,276,060$1,094,095$1,044,247$1,301,242
59$1,376,277$1,117,764$1,049,288$1,376,743
60$1,485,773$1,141,650$1,053,554$1,458,598
61$1,605,464$1,165,734$1,056,991$1,547,429
62$1,736,361$1,189,994$1,059,540$1,643,923
63$1,879,574$1,214,408$1,061,138$1,748,836
64$2,036,327$1,238,950$1,061,723$1,863,000
65$2,207,967$1,263,594$1,061,226$1,987,334
66$2,395,979$1,288,309$1,059,576$2,122,849
67$2,601,996$1,313,063$1,056,699$2,270,659
68$2,827,818$1,337,822$1,052,517$2,431,995
69$3,075,427$1,362,547$1,046,948$2,608,208
70$3,347,006$1,387,197$1,039,906$2,800,791
71$3,644,960$1,411,729$1,031,302$3,011,390
72$3,971,936$1,436,094$1,021,041$3,241,814
73$4,330,853$1,460,242$1,009,025$3,494,063
74$4,724,923$1,484,116$995,150$3,770,338
75$5,157,686$1,507,659$979,309$4,073,064
76$5,633,042$1,530,807$961,388$4,404,916
77$6,155,286$1,553,491$941,269$4,768,841
78$6,729,152$1,575,637$918,827$5,168,088
79$7,359,851$1,597,169$893,933$5,606,236
80$8,053,128$1,618,003$866,452$6,087,233
81$8,815,310$1,638,048$836,241$6,615,427
82$9,653,368$1,657,209$803,152$7,195,613
83$10,574,984$1,675,385$767,030$7,833,074
84$11,588,620$1,692,466$727,713$8,533,635
85$12,703,598$1,708,336$685,030$9,303,713
86$13,930,191$1,722,871$638,805$10,150,385
87$15,279,719$1,735,939$588,853$11,081,447
88$16,764,650$1,747,400$534,980$12,105,494
89$18,398,726$1,757,104$476,983$13,231,998
90$20,197,086$1,764,893$414,652$14,471,401
91$22,176,412$1,770,596$347,767$15,835,210
92$24,355,085$1,774,034$276,096$17,336,108
93$26,753,358$1,775,016$199,399$18,988,073
94$29,393,548$1,773,339$117,426$20,806,513
95$32,300,245$1,768,787$29,915$22,808,408
96$35,500,544$1,761,132$0$25,012,475
97$39,024,302$1,750,130$0$27,450,854
98$42,904,418$1,735,524$0$30,141,306
99$47,177,146$1,717,041$0$33,103,508
100$51,882,430$1,694,392$0$36,365,134