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%11%
1 years$82,249$81,516$80,801$80,104$79,422$79,088
2 years$40,717$39,959$39,224$38,511$37,820$37,482
3 years$26,875$26,114$25,380$24,675$23,995$23,664
4 years$19,956$19,196$18,470$17,777$17,113$16,792
5 years$15,805$15,050$14,334$13,654$13,009$12,699
6 years$13,039$12,290$11,584$10,919$10,294$9,995
7 years$11,063$10,321$9,626$8,977$8,372$8,084
8 years$9,583$8,847$8,164$7,531$6,945$6,669
9 years$8,432$7,703$7,032$6,415$5,849$5,584
10 years$7,511$6,790$6,130$5,530$4,983$4,730
11 years$6,759$6,044$5,397$4,812$4,286$4,043
12 years$6,132$5,425$4,790$4,221$3,714$3,482
13 years$5,603$4,903$4,279$3,727$3,239$3,017
14 years$5,149$4,456$3,845$3,308$2,839$2,628
15 years$4,756$4,071$3,471$2,950$2,500$2,299
16 years$4,413$3,735$3,147$2,642$2,209$2,018
17 years$4,110$3,440$2,864$2,373$1,959$1,777
18 years$3,841$3,179$2,614$2,139$1,742$1,569
19 years$3,601$2,946$2,393$1,933$1,552$1,389
20 years$3,385$2,737$2,197$1,750$1,387$1,232
21 years$3,190$2,550$2,020$1,589$1,241$1,094
22 years$3,013$2,380$1,862$1,444$1,112$974
23 years$2,851$2,226$1,719$1,315$998$868
24 years$2,704$2,086$1,590$1,200$897$774
25 years$2,568$1,957$1,473$1,096$808$691
26 years$2,443$1,840$1,366$1,002$727$618
27 years$2,327$1,731$1,268$917$656$553
28 years$2,220$1,631$1,179$840$592$495
29 years$2,120$1,539$1,097$770$534$443
30 years$2,027$1,453$1,022$707$483$397
31 years$1,941$1,374$953$649$437$356
32 years$1,860$1,300$889$597$395$320
33 years$1,784$1,231$830$549$357$287
34 years$1,712$1,167$776$505$324$258
35 years$1,645$1,107$725$465$293$232
36 years$1,582$1,050$678$428$266$208
37 years$1,522$998$635$394$241$187
38 years$1,466$948$595$364$218$168
39 years$1,412$902$557$335$198$151
40 years$1,362$858$522$309$179$136
41 years$1,314$817$490$285$163$122
42 years$1,268$778$459$263$148$110
43 years$1,225$741$431$243$134$99
44 years$1,183$706$404$224$122$89
45 years$1,144$674$380$207$110$80
46 years$1,107$643$357$191$100$72
47 years$1,071$613$335$177$91$65
48 years$1,036$585$315$163$83$58
49 years$1,004$559$296$151$75$53
50 years$972$534$278$140$68$47

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $996,000, adding $3,149 every year, while hoping to spend $26,032 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: 73/8/19 Blend
55$996,000$996,000$996,000$996,000
56$1,100,840$1,048,052$1,032,614$1,176,028
57$1,185,428$1,071,709$1,039,509$1,250,038
58$1,277,771$1,095,652$1,045,762$1,327,635
59$1,378,634$1,119,869$1,051,325$1,411,976
60$1,488,856$1,144,344$1,056,146$1,503,724
61$1,609,363$1,169,061$1,060,170$1,603,613
62$1,741,174$1,194,001$1,063,342$1,712,450
63$1,885,411$1,219,144$1,065,601$1,831,123
64$2,043,309$1,244,468$1,066,885$1,960,612
65$2,216,229$1,269,950$1,067,128$2,101,997
66$2,405,669$1,295,561$1,066,261$2,256,467
67$2,613,278$1,321,275$1,064,212$2,425,334
68$2,840,873$1,347,058$1,060,904$2,610,040
69$3,090,456$1,372,878$1,056,258$2,812,178
70$3,364,230$1,398,697$1,050,191$3,033,501
71$3,664,624$1,424,475$1,042,614$3,275,942
72$3,994,311$1,450,170$1,033,437$3,541,630
73$4,356,237$1,475,734$1,022,563$3,832,913
74$4,753,646$1,501,118$1,009,892$4,152,376
75$5,190,113$1,526,268$995,318$4,502,870
76$5,669,574$1,551,125$978,732$4,887,536
77$6,196,368$1,575,627$960,016$5,309,835
78$6,775,273$1,599,708$939,052$5,773,582
79$7,411,552$1,623,295$915,711$6,282,982
80$8,111,005$1,646,312$889,863$6,842,666
81$8,880,023$1,668,676$861,368$7,457,742
82$9,725,643$1,690,299$830,082$8,133,837
83$10,655,623$1,711,087$795,854$8,877,152
84$11,678,506$1,730,940$758,524$9,694,522
85$12,803,707$1,749,750$717,929$10,593,479
86$14,041,600$1,767,402$673,894$11,582,325
87$15,403,613$1,783,775$626,239$12,670,208
88$16,902,339$1,798,738$574,776$13,867,211
89$18,551,653$1,812,152$519,307$15,184,445
90$20,366,844$1,823,869$459,626$16,634,157
91$22,364,756$1,833,733$395,517$18,229,842
92$24,563,951$1,841,575$326,756$19,986,374
93$26,984,880$1,847,218$253,109$21,920,146
94$29,650,079$1,850,474$174,330$24,049,222
95$32,584,380$1,851,140$90,163$26,393,511
96$35,815,145$1,849,003$341$28,974,955
97$39,372,523$1,843,838$0$31,817,734
98$43,289,737$1,835,402$0$34,967,862
99$47,603,394$1,823,442$0$38,436,676
100$52,353,836$1,807,685$0$42,256,536