Can I retire at age 56 with 995,000?

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 $995,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.5%
1 years$82,166$81,434$80,720$80,023$79,343$78,514
2 years$40,676$39,919$39,185$38,473$37,782$36,948
3 years$26,848$26,087$25,355$24,650$23,971$23,156
4 years$19,935$19,177$18,452$17,759$17,096$16,308
5 years$15,789$15,035$14,319$13,640$12,996$12,237
6 years$13,025$12,277$11,572$10,908$10,283$9,554
7 years$11,052$10,310$9,617$8,968$8,363$7,663
8 years$9,573$8,838$8,156$7,523$6,938$6,268
9 years$8,423$7,695$7,024$6,408$5,843$5,202
10 years$7,504$6,783$6,124$5,524$4,978$4,367
11 years$6,752$6,038$5,392$4,808$4,282$3,699
12 years$6,126$5,420$4,785$4,217$3,710$3,156
13 years$5,597$4,898$4,275$3,723$3,235$2,708
14 years$5,144$4,452$3,841$3,305$2,836$2,336
15 years$4,751$4,067$3,468$2,947$2,497$2,023
16 years$4,408$3,731$3,144$2,639$2,207$1,758
17 years$4,106$3,436$2,861$2,371$1,957$1,532
18 years$3,837$3,175$2,612$2,137$1,740$1,339
19 years$3,597$2,943$2,391$1,931$1,551$1,172
20 years$3,382$2,735$2,194$1,749$1,385$1,028
21 years$3,187$2,547$2,018$1,587$1,240$903
22 years$3,010$2,378$1,860$1,443$1,111$795
23 years$2,849$2,224$1,718$1,314$997$700
24 years$2,701$2,084$1,588$1,199$897$618
25 years$2,565$1,955$1,471$1,095$807$545
26 years$2,440$1,838$1,365$1,001$727$482
27 years$2,325$1,730$1,267$916$655$426
28 years$2,218$1,630$1,178$839$591$377
29 years$2,118$1,537$1,096$770$534$333
30 years$2,025$1,452$1,021$706$482$295
31 years$1,939$1,373$952$649$436$262
32 years$1,858$1,299$888$596$394$232
33 years$1,782$1,230$829$548$357$206
34 years$1,711$1,166$775$504$323$182
35 years$1,644$1,106$724$464$293$162
36 years$1,580$1,049$678$428$265$143
37 years$1,521$997$634$394$240$127
38 years$1,464$947$594$363$218$113
39 years$1,411$901$556$335$198$100
40 years$1,360$857$522$309$179$89
41 years$1,312$816$489$285$163$79
42 years$1,267$777$459$263$148$70
43 years$1,223$740$430$243$134$62
44 years$1,182$706$404$224$122$55
45 years$1,143$673$379$207$110$49
46 years$1,105$642$356$191$100$44
47 years$1,070$613$335$177$91$39
48 years$1,035$585$315$163$83$35
49 years$1,003$558$296$151$75$31
50 years$971$533$278$139$68$27

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $995,000, adding $6,745 every year, while hoping to spend $45,499 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: 34/43/23 Blend
55$995,000$995,000$995,000$995,000
56$1,103,447$1,050,712$1,035,290$1,133,037
57$1,167,589$1,053,787$1,021,562$1,158,706
58$1,236,747$1,055,487$1,005,848$1,181,747
59$1,311,387$1,055,697$988,036$1,205,673
60$1,392,017$1,054,295$968,004$1,230,593
61$1,479,198$1,051,151$945,628$1,256,627
62$1,573,546$1,046,127$920,775$1,283,912
63$1,675,736$1,039,075$893,309$1,312,604
64$1,786,512$1,029,841$863,087$1,342,878
65$1,906,693$1,018,260$829,957$1,374,928
66$2,037,178$1,004,158$793,763$1,408,978
67$2,178,957$987,348$754,340$1,445,274
68$2,333,118$967,635$711,518$1,484,096
69$2,500,858$944,811$665,116$1,525,756
70$2,683,495$918,657$614,947$1,570,604
71$2,882,479$888,938$560,815$1,619,031
72$3,099,405$855,410$502,516$1,671,477
73$3,336,030$817,810$439,835$1,728,430
74$3,594,285$775,863$372,550$1,790,437
75$3,876,299$729,277$300,428$1,858,108
76$4,184,413$677,744$223,224$1,932,125
77$4,521,207$620,936$140,685$2,013,245
78$4,889,517$558,509$52,545$2,102,313
79$5,292,470$490,099$0$2,200,271
80$5,733,508$415,319$0$2,318,354
81$6,216,419$333,763$0$2,461,961
82$6,745,377$245,001$0$2,619,554
83$7,324,978$148,578$0$2,792,648
84$7,960,282$44,016$0$2,982,924
85$8,656,865$0$0$3,192,240
86$9,420,865$0$0$3,455,396
87$10,259,044$0$0$3,767,101
88$11,178,851$0$0$4,109,317
89$12,188,491$0$0$4,485,114
90$13,296,999$0$0$4,897,878
91$14,514,331$0$0$5,351,334
92$15,851,454$0$0$5,849,590
93$17,320,449$0$0$6,397,170
94$18,934,623$0$0$6,999,056
95$20,708,640$0$0$7,660,741
96$22,658,650$0$0$8,388,272
97$24,802,450$0$0$9,188,314
98$27,159,645$0$0$10,068,211
99$29,751,835$0$0$11,036,052
100$32,602,819$0$0$12,100,751