Can I retire at age 56 with 999,000?

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 $999,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19%
1 years$82,496$81,762$81,045$80,345$79,662$76,774
2 years$40,840$40,079$39,342$38,627$37,934$35,057
3 years$26,956$26,192$25,457$24,749$24,067$21,290
4 years$20,016$19,254$18,526$17,830$17,165$14,510
5 years$15,852$15,095$14,377$13,695$13,048$10,522
6 years$13,078$12,327$11,619$10,952$10,325$7,929
7 years$11,097$10,352$9,655$9,004$8,397$6,131
8 years$9,612$8,873$8,188$7,554$6,966$4,828
9 years$8,457$7,726$7,053$6,434$5,866$3,853
10 years$7,534$6,810$6,149$5,546$4,998$3,107
11 years$6,779$6,063$5,413$4,827$4,299$2,525
12 years$6,151$5,441$4,804$4,234$3,725$2,065
13 years$5,620$4,917$4,292$3,738$3,248$1,697
14 years$5,164$4,470$3,857$3,318$2,848$1,400
15 years$4,770$4,083$3,482$2,959$2,507$1,159
16 years$4,426$3,746$3,157$2,650$2,216$961
17 years$4,122$3,450$2,873$2,381$1,965$800
18 years$3,853$3,188$2,622$2,145$1,747$666
19 years$3,612$2,955$2,401$1,939$1,557$556
20 years$3,395$2,746$2,203$1,756$1,391$464
21 years$3,200$2,558$2,026$1,593$1,245$388
22 years$3,022$2,387$1,868$1,449$1,116$325
23 years$2,860$2,233$1,725$1,319$1,001$272
24 years$2,712$2,092$1,595$1,203$900$228
25 years$2,576$1,963$1,477$1,099$810$191
26 years$2,450$1,845$1,370$1,005$730$160
27 years$2,334$1,736$1,272$920$658$134
28 years$2,227$1,636$1,183$843$594$113
29 years$2,127$1,544$1,101$773$536$95
30 years$2,034$1,458$1,025$709$484$79
31 years$1,947$1,378$956$651$438$67
32 years$1,865$1,304$892$599$396$56
33 years$1,789$1,235$833$550$358$47
34 years$1,717$1,170$778$507$325$39
35 years$1,650$1,110$727$466$294$33
36 years$1,587$1,054$680$429$266$28
37 years$1,527$1,001$637$396$241$23
38 years$1,470$951$596$365$219$20
39 years$1,417$904$559$336$198$17
40 years$1,366$860$524$310$180$14
41 years$1,318$819$491$286$163$12
42 years$1,272$780$461$264$148$10
43 years$1,228$743$432$244$134$8
44 years$1,187$708$406$225$122$7
45 years$1,147$676$381$208$111$6
46 years$1,110$644$358$192$101$5
47 years$1,074$615$336$177$91$4
48 years$1,040$587$316$164$83$3
49 years$1,007$561$297$151$75$3
50 years$975$536$279$140$68$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $999,000, adding $4,188 every year, while hoping to spend $20,031 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: 42/35/23 Blend
55$999,000$999,000$999,000$999,000
56$1,105,218$1,052,271$1,036,786$1,144,037
57$1,196,637$1,082,519$1,050,206$1,202,381
58$1,296,710$1,113,579$1,063,404$1,263,284
59$1,406,298$1,145,467$1,076,351$1,328,838
60$1,526,349$1,178,204$1,089,018$1,399,482
61$1,657,909$1,211,808$1,101,372$1,475,697
62$1,802,128$1,246,299$1,113,380$1,558,016
63$1,960,273$1,281,696$1,125,007$1,647,025
64$2,133,741$1,318,019$1,136,214$1,743,367
65$2,324,068$1,355,287$1,146,962$1,847,753
66$2,532,947$1,393,521$1,157,211$1,960,963
67$2,762,246$1,432,741$1,166,915$2,083,857
68$3,014,017$1,472,967$1,176,028$2,217,385
69$3,290,524$1,514,220$1,184,503$2,362,588
70$3,594,261$1,556,521$1,192,287$2,520,616
71$3,927,975$1,599,889$1,199,328$2,692,737
72$4,294,691$1,644,346$1,205,568$2,880,343
73$4,697,742$1,689,913$1,210,948$3,084,973
74$5,140,803$1,736,609$1,215,405$3,308,318
75$5,627,918$1,784,457$1,218,875$3,552,243
76$6,163,546$1,833,475$1,221,287$3,818,803
77$6,752,597$1,883,685$1,222,570$4,110,261
78$7,400,484$1,935,107$1,222,648$4,429,111
79$8,113,167$1,987,761$1,221,440$4,778,102
80$8,897,216$2,041,667$1,218,864$5,160,260
81$9,759,867$2,096,844$1,214,832$5,578,922
82$10,709,096$2,153,312$1,209,251$6,037,764
83$11,753,688$2,211,089$1,202,025$6,540,837
84$12,903,325$2,270,193$1,193,054$7,092,605
85$14,168,674$2,330,642$1,182,231$7,697,985
86$15,561,489$2,392,454$1,169,446$8,362,399
87$17,094,721$2,455,644$1,154,582$9,091,818
88$18,782,640$2,520,228$1,137,518$9,892,826
89$20,640,970$2,586,220$1,118,126$10,772,674
90$22,687,040$2,653,635$1,096,274$11,739,356
91$24,939,940$2,722,485$1,071,821$12,801,681
92$27,420,708$2,792,782$1,044,622$13,969,354
93$30,152,528$2,864,536$1,014,524$15,253,074
94$33,160,942$2,937,755$981,367$16,664,628
95$36,474,100$3,012,446$944,985$18,217,008
96$40,123,018$3,088,616$905,202$19,924,530
97$44,141,876$3,166,268$861,836$21,802,972
98$48,568,336$3,245,404$814,695$23,869,721
99$53,443,900$3,326,022$763,582$26,143,939
100$58,814,302$3,408,122$708,286$28,646,742