Can I retire at age 56 with 1,090,000?

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 $1,090,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.7%
1 years$90,011$89,209$88,427$87,664$86,918$84,543
2 years$44,560$43,730$42,926$42,146$41,390$39,014
3 years$29,412$28,578$27,776$27,003$26,259$23,957
4 years$21,839$21,008$20,214$19,454$18,728$16,518
5 years$17,296$16,470$15,687$14,943$14,237$12,124
6 years$14,269$13,449$12,677$11,950$11,265$9,252
7 years$12,108$11,295$10,535$9,825$9,162$7,249
8 years$10,487$9,682$8,934$8,242$7,600$5,786
9 years$9,228$8,430$7,695$7,020$6,401$4,683
10 years$8,220$7,430$6,709$6,051$5,454$3,831
11 years$7,397$6,615$5,906$5,267$4,690$3,160
12 years$6,711$5,937$5,242$4,619$4,065$2,624
13 years$6,131$5,365$4,683$4,078$3,544$2,190
14 years$5,635$4,877$4,208$3,620$3,107$1,836
15 years$5,205$4,455$3,799$3,229$2,736$1,545
16 years$4,829$4,088$3,444$2,891$2,418$1,303
17 years$4,498$3,765$3,134$2,597$2,144$1,102
18 years$4,204$3,479$2,861$2,341$1,906$934
19 years$3,941$3,224$2,619$2,115$1,699$793
20 years$3,705$2,996$2,404$1,916$1,518$674
21 years$3,491$2,790$2,211$1,739$1,358$574
22 years$3,297$2,605$2,038$1,581$1,217$489
23 years$3,121$2,436$1,882$1,440$1,093$417
24 years$2,959$2,283$1,740$1,313$982$356
25 years$2,810$2,142$1,612$1,199$884$304
26 years$2,673$2,013$1,495$1,096$796$259
27 years$2,547$1,895$1,388$1,004$718$222
28 years$2,429$1,785$1,290$919$648$189
29 years$2,320$1,684$1,201$843$585$162
30 years$2,219$1,591$1,119$774$528$139
31 years$2,124$1,504$1,043$711$478$119
32 years$2,035$1,423$973$653$432$102
33 years$1,952$1,347$908$601$391$87
34 years$1,874$1,277$849$553$354$74
35 years$1,800$1,211$794$509$321$64
36 years$1,731$1,150$742$469$291$55
37 years$1,666$1,092$695$432$263$47
38 years$1,604$1,038$651$398$239$40
39 years$1,546$987$610$367$217$34
40 years$1,490$939$571$338$196$29
41 years$1,438$894$536$312$178$25
42 years$1,388$851$503$288$162$22
43 years$1,340$811$472$266$147$18
44 years$1,295$773$443$246$133$16
45 years$1,252$737$416$227$121$14
46 years$1,211$703$390$210$110$12
47 years$1,172$671$367$194$100$10
48 years$1,134$641$345$179$91$9
49 years$1,098$612$324$165$82$7
50 years$1,064$584$305$153$75$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $1,090,000, adding $2,687 every year, while hoping to spend $59,143 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: 63/13/24 Blend
55$1,090,000$1,090,000$1,090,000$1,090,000
56$1,203,952$1,146,182$1,129,287$1,272,050
57$1,263,827$1,139,417$1,104,190$1,311,641
58$1,327,827$1,130,338$1,076,270$1,348,066
59$1,396,311$1,118,770$1,045,371$1,386,531
60$1,469,671$1,104,526$1,011,327$1,427,241
61$1,548,339$1,087,409$973,968$1,470,427
62$1,632,786$1,067,209$933,112$1,516,343
63$1,723,532$1,043,704$888,574$1,565,274
64$1,821,147$1,016,660$840,155$1,617,535
65$1,926,256$985,828$787,652$1,673,474
66$2,039,545$950,945$730,850$1,733,479
67$2,161,769$911,732$669,524$1,797,982
68$2,293,758$867,895$603,441$1,867,460
69$2,436,420$819,121$532,356$1,942,441
70$2,590,759$765,082$456,013$2,023,513
71$2,757,873$705,428$374,147$2,111,326
72$2,938,974$639,791$286,478$2,206,601
73$3,135,390$567,781$192,715$2,310,136
74$3,348,584$488,988$92,556$2,422,816
75$3,580,166$402,974$0$2,545,621
76$3,831,906$309,283$0$2,683,303
77$4,105,749$207,426$0$2,858,926
78$4,403,839$96,894$0$3,050,180
79$4,728,532$0$0$3,258,627
80$5,082,422$0$0$3,489,259
81$5,468,363$0$0$3,755,966
82$5,889,497$0$0$4,047,067
83$6,349,284$0$0$4,364,962
84$6,851,529$0$0$4,712,293
85$7,400,423$0$0$5,091,968
86$8,000,580$0$0$5,507,189
87$8,657,082$0$0$5,961,482
88$9,375,520$0$0$6,458,728
89$10,162,054$0$0$7,003,203
90$11,023,467$0$0$7,599,612
91$11,967,229$0$0$8,253,142
92$13,001,564$0$0$8,969,499
93$14,135,532$0$0$9,754,974
94$15,379,110$0$0$10,616,490
95$16,743,289$0$0$11,561,675
96$18,240,173$0$0$12,598,932
97$19,883,095$0$0$13,737,516
98$21,686,741$0$0$14,987,619
99$23,667,289$0$0$16,360,473
100$25,842,561$0$0$17,868,448