Can I retire at age 56 with 999,000?

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 $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%16.8%
1 years$82,496$81,762$81,045$80,345$79,662$77,453
2 years$40,840$40,079$39,342$38,627$37,934$35,726
3 years$26,956$26,192$25,457$24,749$24,067$21,928
4 years$20,016$19,254$18,526$17,830$17,165$15,111
5 years$15,852$15,095$14,377$13,695$13,048$11,086
6 years$13,078$12,327$11,619$10,952$10,325$8,455
7 years$11,097$10,352$9,655$9,004$8,397$6,620
8 years$9,612$8,873$8,188$7,554$6,966$5,282
9 years$8,457$7,726$7,053$6,434$5,866$4,272
10 years$7,534$6,810$6,149$5,546$4,998$3,493
11 years$6,779$6,063$5,413$4,827$4,299$2,879
12 years$6,151$5,441$4,804$4,234$3,725$2,389
13 years$5,620$4,917$4,292$3,738$3,248$1,993
14 years$5,164$4,470$3,857$3,318$2,848$1,669
15 years$4,770$4,083$3,482$2,959$2,507$1,403
16 years$4,426$3,746$3,157$2,650$2,216$1,183
17 years$4,122$3,450$2,873$2,381$1,965$1,000
18 years$3,853$3,188$2,622$2,145$1,747$847
19 years$3,612$2,955$2,401$1,939$1,557$718
20 years$3,395$2,746$2,203$1,756$1,391$610
21 years$3,200$2,558$2,026$1,593$1,245$519
22 years$3,022$2,387$1,868$1,449$1,116$442
23 years$2,860$2,233$1,725$1,319$1,001$376
24 years$2,712$2,092$1,595$1,203$900$321
25 years$2,576$1,963$1,477$1,099$810$274
26 years$2,450$1,845$1,370$1,005$730$234
27 years$2,334$1,736$1,272$920$658$200
28 years$2,227$1,636$1,183$843$594$170
29 years$2,127$1,544$1,101$773$536$146
30 years$2,034$1,458$1,025$709$484$125
31 years$1,947$1,378$956$651$438$106
32 years$1,865$1,304$892$599$396$91
33 years$1,789$1,235$833$550$358$78
34 years$1,717$1,170$778$507$325$67
35 years$1,650$1,110$727$466$294$57
36 years$1,587$1,054$680$429$266$49
37 years$1,527$1,001$637$396$241$42
38 years$1,470$951$596$365$219$36
39 years$1,417$904$559$336$198$31
40 years$1,366$860$524$310$180$26
41 years$1,318$819$491$286$163$22
42 years$1,272$780$461$264$148$19
43 years$1,228$743$432$244$134$16
44 years$1,187$708$406$225$122$14
45 years$1,147$676$381$208$111$12
46 years$1,110$644$358$192$101$10
47 years$1,074$615$336$177$91$9
48 years$1,040$587$316$164$83$8
49 years$1,007$561$297$151$75$6
50 years$975$536$279$140$68$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $999,000, adding $5,430 every year, while hoping to spend $49,157 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: 79/16/5 Blend
55$999,000$999,000$999,000$999,000
56$1,106,499$1,053,552$1,038,068$1,193,262
57$1,167,059$1,052,873$1,020,540$1,250,181
58$1,232,149$1,050,514$1,000,778$1,305,579
59$1,302,179$1,046,340$978,654$1,364,854
60$1,377,598$1,040,208$954,037$1,428,370
61$1,458,903$1,031,967$926,786$1,496,523
62$1,546,635$1,021,457$896,758$1,569,753
63$1,641,392$1,008,509$863,799$1,648,544
64$1,743,829$992,942$827,752$1,733,427
65$1,854,669$974,565$788,451$1,824,991
66$1,974,702$953,175$745,721$1,923,882
67$2,104,801$928,560$699,382$2,030,813
68$2,245,923$900,492$649,244$2,146,572
69$2,399,122$868,732$595,109$2,272,025
70$2,565,558$833,024$536,770$2,408,128
71$2,746,504$793,102$474,011$2,555,934
72$2,943,363$748,680$406,606$2,716,606
73$3,157,679$699,457$334,319$2,891,425
74$3,391,148$645,117$256,905$3,081,801
75$3,645,640$585,323$174,107$3,289,294
76$3,923,211$519,719$85,655$3,515,620
77$4,226,125$447,931$0$3,762,671
78$4,556,872$369,562$0$4,033,003
79$4,918,195$284,193$0$4,333,357
80$5,313,113$191,381$0$4,661,713
81$5,744,951$90,659$0$5,020,886
82$6,217,369$0$0$5,413,981
83$6,734,395$0$0$5,847,669
84$7,300,469$0$0$6,340,004
85$7,920,475$0$0$6,879,276
86$8,599,796$0$0$7,470,171
87$9,344,358$0$0$8,117,847
88$10,160,687$0$0$8,827,987
89$11,055,973$0$0$9,606,847
90$12,038,134$0$0$10,461,322
91$13,115,890$0$0$11,399,001
92$14,298,848$0$0$12,428,249
93$15,597,589$0$0$13,558,276
94$17,023,771$0$0$14,799,229
95$18,590,232$0$0$16,162,288
96$20,311,119$0$0$17,659,764
97$22,202,014$0$0$19,305,225
98$24,280,083$0$0$21,113,613
99$26,564,240$0$0$23,101,394
100$29,075,320$0$0$25,286,705