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%19.8%
1 years$82,249$81,516$80,801$80,104$79,422$76,301
2 years$40,717$39,959$39,224$38,511$37,820$34,714
3 years$26,875$26,114$25,380$24,675$23,995$21,001
4 years$19,956$19,196$18,470$17,777$17,113$14,255
5 years$15,805$15,050$14,334$13,654$13,009$10,294
6 years$13,039$12,290$11,584$10,919$10,294$7,723
7 years$11,063$10,321$9,626$8,977$8,372$5,944
8 years$9,583$8,847$8,164$7,531$6,945$4,659
9 years$8,432$7,703$7,032$6,415$5,849$3,700
10 years$7,511$6,790$6,130$5,530$4,983$2,969
11 years$6,759$6,044$5,397$4,812$4,286$2,400
12 years$6,132$5,425$4,790$4,221$3,714$1,952
13 years$5,603$4,903$4,279$3,727$3,239$1,595
14 years$5,149$4,456$3,845$3,308$2,839$1,309
15 years$4,756$4,071$3,471$2,950$2,500$1,077
16 years$4,413$3,735$3,147$2,642$2,209$889
17 years$4,110$3,440$2,864$2,373$1,959$735
18 years$3,841$3,179$2,614$2,139$1,742$608
19 years$3,601$2,946$2,393$1,933$1,552$504
20 years$3,385$2,737$2,197$1,750$1,387$419
21 years$3,190$2,550$2,020$1,589$1,241$348
22 years$3,013$2,380$1,862$1,444$1,112$289
23 years$2,851$2,226$1,719$1,315$998$241
24 years$2,704$2,086$1,590$1,200$897$200
25 years$2,568$1,957$1,473$1,096$808$167
26 years$2,443$1,840$1,366$1,002$727$139
27 years$2,327$1,731$1,268$917$656$116
28 years$2,220$1,631$1,179$840$592$97
29 years$2,120$1,539$1,097$770$534$81
30 years$2,027$1,453$1,022$707$483$67
31 years$1,941$1,374$953$649$437$56
32 years$1,860$1,300$889$597$395$47
33 years$1,784$1,231$830$549$357$39
34 years$1,712$1,167$776$505$324$33
35 years$1,645$1,107$725$465$293$27
36 years$1,582$1,050$678$428$266$23
37 years$1,522$998$635$394$241$19
38 years$1,466$948$595$364$218$16
39 years$1,412$902$557$335$198$13
40 years$1,362$858$522$309$179$11
41 years$1,314$817$490$285$163$9
42 years$1,268$778$459$263$148$8
43 years$1,225$741$431$243$134$6
44 years$1,183$706$404$224$122$5
45 years$1,144$674$380$207$110$4
46 years$1,107$643$357$191$100$4
47 years$1,071$613$335$177$91$3
48 years$1,036$585$315$163$83$3
49 years$1,004$559$296$151$75$2
50 years$972$534$278$140$68$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $996,000, adding $4,788 every year, while hoping to spend $39,671 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: 51/20/29 Blend
55$996,000$996,000$996,000$996,000
56$1,102,531$1,049,743$1,034,305$1,149,524
57$1,172,779$1,058,971$1,026,744$1,192,048
58$1,248,864$1,067,321$1,017,601$1,233,915
59$1,331,337$1,074,709$1,006,780$1,278,672
60$1,420,808$1,081,044$994,182$1,326,611
61$1,517,946$1,086,231$979,702$1,378,057
62$1,623,486$1,090,166$963,232$1,433,370
63$1,738,239$1,092,742$944,658$1,492,948
64$1,863,096$1,093,842$923,860$1,557,231
65$1,999,035$1,093,344$900,713$1,626,709
66$2,147,137$1,091,118$875,087$1,701,919
67$2,308,587$1,087,025$846,845$1,783,459
68$2,484,692$1,080,919$815,843$1,871,991
69$2,676,890$1,072,643$781,933$1,968,244
70$2,886,762$1,062,032$744,958$2,073,026
71$3,116,052$1,048,911$704,754$2,187,232
72$3,366,677$1,033,096$661,150$2,311,848
73$3,640,748$1,014,388$613,969$2,447,967
74$3,940,591$992,579$563,024$2,596,796
75$4,268,765$967,449$508,119$2,759,670
76$4,628,089$938,764$449,051$2,938,062
77$5,021,668$906,277$385,607$3,133,601
78$5,452,919$869,725$317,566$3,348,088
79$5,925,607$828,833$244,695$3,583,511
80$6,443,879$783,306$166,753$3,842,067
81$7,012,302$732,834$83,486$4,126,180
82$7,635,904$677,091$0$4,438,532
83$8,320,227$615,730$0$4,783,742
84$9,071,373$548,383$0$5,191,093
85$9,896,065$474,665$0$5,638,419
86$10,801,706$394,166$0$6,129,795
87$11,796,454$306,454$0$6,669,716
88$12,889,295$211,074$0$7,263,134
89$14,090,128$107,542$0$7,915,512
90$15,409,860$0$0$8,632,871
91$16,860,504$0$0$9,422,874
92$18,455,297$0$0$10,317,508
93$20,208,822$0$0$11,301,300
94$22,137,146$0$0$12,383,278
95$24,257,970$0$0$13,573,389
96$26,590,798$0$0$14,882,592
97$29,157,117$0$0$16,322,963
98$31,980,603$0$0$17,907,805
99$35,087,343$0$0$19,651,779
100$38,506,080$0$0$21,571,034