Can I retire at age 56 with 996,000?

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 $996,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.5%
1 years$82,249$81,516$80,801$80,104$79,422$77,946
2 years$40,717$39,959$39,224$38,511$37,820$36,339
3 years$26,875$26,114$25,380$24,675$23,995$22,554
4 years$19,956$19,196$18,470$17,777$17,113$15,724
5 years$15,805$15,050$14,334$13,654$13,009$11,676
6 years$13,039$12,290$11,584$10,919$10,294$9,017
7 years$11,063$10,321$9,626$8,977$8,372$7,153
8 years$9,583$8,847$8,164$7,531$6,945$5,783
9 years$8,432$7,703$7,032$6,415$5,849$4,744
10 years$7,511$6,790$6,130$5,530$4,983$3,934
11 years$6,759$6,044$5,397$4,812$4,286$3,291
12 years$6,132$5,425$4,790$4,221$3,714$2,772
13 years$5,603$4,903$4,279$3,727$3,239$2,348
14 years$5,149$4,456$3,845$3,308$2,839$1,998
15 years$4,756$4,071$3,471$2,950$2,500$1,707
16 years$4,413$3,735$3,147$2,642$2,209$1,463
17 years$4,110$3,440$2,864$2,373$1,959$1,257
18 years$3,841$3,179$2,614$2,139$1,742$1,082
19 years$3,601$2,946$2,393$1,933$1,552$934
20 years$3,385$2,737$2,197$1,750$1,387$807
21 years$3,190$2,550$2,020$1,589$1,241$699
22 years$3,013$2,380$1,862$1,444$1,112$605
23 years$2,851$2,226$1,719$1,315$998$525
24 years$2,704$2,086$1,590$1,200$897$456
25 years$2,568$1,957$1,473$1,096$808$396
26 years$2,443$1,840$1,366$1,002$727$345
27 years$2,327$1,731$1,268$917$656$300
28 years$2,220$1,631$1,179$840$592$261
29 years$2,120$1,539$1,097$770$534$227
30 years$2,027$1,453$1,022$707$483$198
31 years$1,941$1,374$953$649$437$172
32 years$1,860$1,300$889$597$395$150
33 years$1,784$1,231$830$549$357$131
34 years$1,712$1,167$776$505$324$114
35 years$1,645$1,107$725$465$293$100
36 years$1,582$1,050$678$428$266$87
37 years$1,522$998$635$394$241$76
38 years$1,466$948$595$364$218$66
39 years$1,412$902$557$335$198$58
40 years$1,362$858$522$309$179$50
41 years$1,314$817$490$285$163$44
42 years$1,268$778$459$263$148$38
43 years$1,225$741$431$243$134$34
44 years$1,183$706$404$224$122$29
45 years$1,144$674$380$207$110$26
46 years$1,107$643$357$191$100$22
47 years$1,071$613$335$177$91$20
48 years$1,036$585$315$163$83$17
49 years$1,004$559$296$151$75$15
50 years$972$534$278$140$68$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $996,000, adding $5,921 every year, while hoping to spend $44,118 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: 50/43/7 Blend
55$996,000$996,000$996,000$996,000
56$1,103,700$1,050,912$1,035,474$1,156,630
57$1,169,336$1,055,465$1,023,221$1,197,911
58$1,240,188$1,058,763$1,009,079$1,237,525
59$1,316,742$1,060,697$992,938$1,279,524
60$1,399,531$1,061,153$974,683$1,324,143
61$1,489,142$1,060,008$954,194$1,371,641
62$1,586,220$1,057,134$931,344$1,422,306
63$1,691,473$1,052,391$906,002$1,476,456
64$1,805,680$1,045,636$878,030$1,534,446
65$1,929,699$1,036,712$847,284$1,596,667
66$2,064,473$1,025,456$813,613$1,663,556
67$2,211,040$1,011,693$776,859$1,735,593
68$2,370,540$995,240$736,858$1,813,312
69$2,544,229$975,901$693,437$1,897,304
70$2,733,489$953,468$646,416$1,988,226
71$2,939,841$927,724$595,606$2,086,802
72$3,164,958$898,436$540,812$2,193,836
73$3,410,682$865,358$481,828$2,310,218
74$3,679,041$828,230$418,439$2,436,932
75$3,972,268$786,778$350,422$2,575,068
76$4,292,820$740,711$277,542$2,725,832
77$4,643,403$689,721$199,555$2,890,560
78$5,026,996$633,483$116,205$3,070,727
79$5,446,879$571,654$27,228$3,267,967
80$5,906,665$503,869$0$3,484,087
81$6,410,331$429,745$0$3,726,142
82$6,962,259$348,876$0$3,993,783
83$7,567,273$260,835$0$4,287,440
84$8,230,686$165,167$0$4,609,834
85$8,958,352$61,396$0$4,963,977
86$9,756,715$0$0$5,353,191
87$10,632,877$0$0$5,805,274
88$11,594,658$0$0$6,333,532
89$12,650,673$0$0$6,913,660
90$13,810,413$0$0$7,550,885
91$15,084,332$0$0$8,250,967
92$16,483,946$0$0$9,020,248
93$18,021,942$0$0$9,865,719
94$19,712,298$0$0$10,795,077
95$21,570,412$0$0$11,816,806
96$23,613,248$0$0$12,940,252
97$25,859,498$0$0$14,175,710
98$28,329,752$0$0$15,534,524
99$31,046,699$0$0$17,029,194
100$34,035,335$0$0$18,673,490