Can I retire at age 56 with 991,000?

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 $991,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.5%
1 years$81,836$81,107$80,396$79,702$79,024$76,008
2 years$40,513$39,758$39,027$38,318$37,630$34,628
3 years$26,740$25,982$25,253$24,551$23,874$20,979
4 years$19,855$19,100$18,378$17,687$17,027$14,262
5 years$15,725$14,975$14,262$13,586$12,944$10,315
6 years$12,973$12,228$11,526$10,865$10,242$7,751
7 years$11,008$10,269$9,578$8,932$8,330$5,977
8 years$9,535$8,802$8,123$7,493$6,910$4,693
9 years$8,389$7,664$6,996$6,382$5,819$3,734
10 years$7,474$6,755$6,099$5,502$4,958$3,001
11 years$6,725$6,014$5,370$4,788$4,264$2,431
12 years$6,102$5,398$4,766$4,200$3,695$1,981
13 years$5,575$4,878$4,258$3,708$3,222$1,623
14 years$5,123$4,434$3,826$3,291$2,825$1,334
15 years$4,732$4,051$3,454$2,935$2,487$1,100
16 years$4,391$3,716$3,132$2,628$2,198$910
17 years$4,089$3,423$2,850$2,362$1,949$754
18 years$3,822$3,163$2,601$2,128$1,733$625
19 years$3,583$2,931$2,381$1,923$1,545$520
20 years$3,368$2,724$2,186$1,742$1,380$433
21 years$3,174$2,537$2,010$1,581$1,235$360
22 years$2,998$2,368$1,853$1,437$1,107$300
23 years$2,837$2,215$1,711$1,309$993$250
24 years$2,690$2,075$1,582$1,194$893$209
25 years$2,555$1,948$1,465$1,090$804$174
26 years$2,430$1,830$1,359$997$724$146
27 years$2,315$1,723$1,262$912$653$122
28 years$2,209$1,623$1,173$836$589$102
29 years$2,110$1,531$1,092$767$532$85
30 years$2,017$1,446$1,017$704$480$71
31 years$1,931$1,367$948$646$434$59
32 years$1,850$1,294$885$594$393$50
33 years$1,775$1,225$826$546$356$42
34 years$1,704$1,161$772$502$322$35
35 years$1,637$1,101$721$463$292$29
36 years$1,574$1,045$675$426$264$24
37 years$1,515$993$632$392$239$20
38 years$1,458$943$592$362$217$17
39 years$1,405$897$554$334$197$14
40 years$1,355$854$519$308$179$12
41 years$1,307$812$487$284$162$10
42 years$1,262$774$457$262$147$8
43 years$1,219$737$429$242$133$7
44 years$1,177$703$402$223$121$6
45 years$1,138$670$378$206$110$5
46 years$1,101$639$355$190$100$4
47 years$1,065$610$333$176$91$3
48 years$1,031$582$313$163$82$3
49 years$999$556$295$150$75$2
50 years$968$531$277$139$68$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $991,000, adding $2,248 every year, while hoping to spend $43,662 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: 35/44/21 Blend
55$991,000$991,000$991,000$991,000
56$1,094,401$1,041,878$1,026,517$1,125,641
57$1,159,574$1,046,474$1,014,450$1,153,416
58$1,229,931$1,049,832$1,000,514$1,179,172
59$1,305,955$1,051,845$984,603$1,206,067
60$1,388,176$1,052,399$966,601$1,234,229
61$1,477,178$1,051,375$946,390$1,263,801
62$1,573,602$1,048,643$923,846$1,294,945
63$1,678,152$1,044,070$898,837$1,327,841
64$1,791,604$1,037,509$871,228$1,362,692
65$1,914,809$1,028,809$840,876$1,399,726
66$2,048,706$1,017,807$807,632$1,439,198
67$2,194,326$1,004,331$771,339$1,481,391
68$2,352,803$988,199$731,835$1,526,625
69$2,525,387$969,219$688,950$1,575,254
70$2,713,451$947,186$642,504$1,627,677
71$2,918,508$921,883$592,313$1,684,336
72$3,142,222$893,081$538,181$1,745,726
73$3,386,424$860,537$479,906$1,812,396
74$3,653,131$823,995$417,275$1,884,960
75$3,944,563$783,184$350,066$1,964,101
76$4,263,164$737,815$278,049$2,050,579
77$4,611,624$687,585$200,981$2,145,239
78$4,992,906$632,173$118,610$2,249,021
79$5,410,271$571,239$30,673$2,362,969
80$5,867,313$504,424$0$2,488,244
81$6,367,987$431,349$0$2,640,289
82$6,916,649$351,613$0$2,814,635
83$7,518,098$264,792$0$3,006,055
84$8,177,616$170,439$0$3,216,381
85$8,901,024$68,082$0$3,447,639
86$9,694,733$0$0$3,702,072
87$10,565,803$0$0$4,002,870
88$11,522,012$0$0$4,369,400
89$12,571,926$0$0$4,772,001
90$13,724,984$0$0$5,214,310
91$14,991,582$0$0$5,700,336
92$16,383,171$0$0$6,234,491
93$17,912,370$0$0$6,821,642
94$19,593,079$0$0$7,467,145
95$21,440,609$0$0$8,176,906
96$23,471,832$0$0$8,957,427
97$25,705,334$0$0$9,815,876
98$28,161,594$0$0$10,760,147
99$30,863,174$0$0$11,798,940
100$33,834,931$0$0$12,941,840