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%14.7%
1 years$82,496$81,762$81,045$80,345$79,662$78,117
2 years$40,840$40,079$39,342$38,627$37,934$36,384
3 years$26,956$26,192$25,457$24,749$24,067$22,560
4 years$20,016$19,254$18,526$17,830$17,165$15,713
5 years$15,852$15,095$14,377$13,695$13,048$11,655
6 years$13,078$12,327$11,619$10,952$10,325$8,992
7 years$11,097$10,352$9,655$9,004$8,397$7,124
8 years$9,612$8,873$8,188$7,554$6,966$5,754
9 years$8,457$7,726$7,053$6,434$5,866$4,714
10 years$7,534$6,810$6,149$5,546$4,998$3,904
11 years$6,779$6,063$5,413$4,827$4,299$3,262
12 years$6,151$5,441$4,804$4,234$3,725$2,744
13 years$5,620$4,917$4,292$3,738$3,248$2,321
14 years$5,164$4,470$3,857$3,318$2,848$1,973
15 years$4,770$4,083$3,482$2,959$2,507$1,683
16 years$4,426$3,746$3,157$2,650$2,216$1,440
17 years$4,122$3,450$2,873$2,381$1,965$1,236
18 years$3,853$3,188$2,622$2,145$1,747$1,063
19 years$3,612$2,955$2,401$1,939$1,557$916
20 years$3,395$2,746$2,203$1,756$1,391$790
21 years$3,200$2,558$2,026$1,593$1,245$683
22 years$3,022$2,387$1,868$1,449$1,116$591
23 years$2,860$2,233$1,725$1,319$1,001$512
24 years$2,712$2,092$1,595$1,203$900$444
25 years$2,576$1,963$1,477$1,099$810$385
26 years$2,450$1,845$1,370$1,005$730$334
27 years$2,334$1,736$1,272$920$658$290
28 years$2,227$1,636$1,183$843$594$252
29 years$2,127$1,544$1,101$773$536$219
30 years$2,034$1,458$1,025$709$484$191
31 years$1,947$1,378$956$651$438$166
32 years$1,865$1,304$892$599$396$144
33 years$1,789$1,235$833$550$358$126
34 years$1,717$1,170$778$507$325$109
35 years$1,650$1,110$727$466$294$95
36 years$1,587$1,054$680$429$266$83
37 years$1,527$1,001$637$396$241$72
38 years$1,470$951$596$365$219$63
39 years$1,417$904$559$336$198$55
40 years$1,366$860$524$310$180$48
41 years$1,318$819$491$286$163$42
42 years$1,272$780$461$264$148$36
43 years$1,228$743$432$244$134$32
44 years$1,187$708$406$225$122$28
45 years$1,147$676$381$208$111$24
46 years$1,110$644$358$192$101$21
47 years$1,074$615$336$177$91$18
48 years$1,040$587$316$164$83$16
49 years$1,007$561$297$151$75$14
50 years$975$536$279$140$68$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $999,000, adding $6,744 every year, while hoping to spend $25,721 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: 64/27/9 Blend
55$999,000$999,000$999,000$999,000
56$1,107,854$1,054,907$1,039,423$1,176,244
57$1,193,489$1,079,231$1,046,877$1,247,021
58$1,286,995$1,103,884$1,053,718$1,320,658
59$1,389,151$1,128,856$1,059,899$1,400,427
60$1,500,809$1,154,135$1,065,371$1,486,920
61$1,622,910$1,179,706$1,070,079$1,580,793
62$1,756,489$1,205,554$1,073,969$1,682,766
63$1,902,687$1,231,662$1,076,983$1,793,634
64$2,062,758$1,258,011$1,079,059$1,914,269
65$2,238,086$1,284,580$1,080,134$2,045,637
66$2,430,192$1,311,346$1,080,140$2,188,797
67$2,640,754$1,338,284$1,079,007$2,344,919
68$2,871,617$1,365,366$1,076,660$2,515,291
69$3,124,816$1,392,563$1,073,022$2,701,330
70$3,402,591$1,419,842$1,068,012$2,904,601
71$3,707,408$1,447,167$1,061,543$3,126,825
72$4,041,986$1,474,501$1,053,527$3,369,901
73$4,409,318$1,501,801$1,043,870$3,635,919
74$4,812,702$1,529,023$1,032,473$3,927,183
75$5,255,771$1,556,118$1,019,234$4,246,232
76$5,742,526$1,583,034$1,004,045$4,595,864
77$6,277,376$1,609,715$986,793$4,979,162
78$6,865,178$1,636,101$967,360$5,399,524
79$7,511,282$1,662,126$945,623$5,860,692
80$8,221,583$1,687,721$921,451$6,366,793
81$9,002,576$1,712,810$894,711$6,922,374
82$9,861,416$1,737,315$865,261$7,532,446
83$10,805,985$1,761,148$832,952$8,202,529
84$11,844,969$1,784,218$797,630$8,938,710
85$12,987,939$1,806,427$759,133$9,747,695
86$14,245,436$1,827,670$717,292$10,636,876
87$15,629,080$1,847,835$671,930$11,614,396
88$17,151,669$1,866,802$622,863$12,689,235
89$18,827,308$1,884,444$569,897$13,871,283
90$20,671,536$1,900,624$512,832$15,171,445
91$22,701,477$1,915,199$451,455$16,601,736
92$24,935,997$1,928,013$385,548$18,175,399
93$27,395,885$1,938,902$314,881$19,907,028
94$30,104,050$1,947,693$239,214$21,812,708
95$33,085,731$1,954,198$158,296$23,910,166
96$36,368,742$1,958,220$71,865$26,218,936
97$39,983,731$1,959,550$0$28,760,551
98$43,964,468$1,957,965$0$31,560,693
99$48,348,166$1,953,227$0$34,651,050
100$53,175,830$1,945,086$0$38,053,563