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%17.7%
1 years$90,011$89,209$88,427$87,664$86,918$84,203
2 years$44,560$43,730$42,926$42,146$41,390$38,679
3 years$29,412$28,578$27,776$27,003$26,259$23,637
4 years$21,839$21,008$20,214$19,454$18,728$16,215
5 years$17,296$16,470$15,687$14,943$14,237$11,840
6 years$14,269$13,449$12,677$11,950$11,265$8,986
7 years$12,108$11,295$10,535$9,825$9,162$7,000
8 years$10,487$9,682$8,934$8,242$7,600$5,555
9 years$9,228$8,430$7,695$7,020$6,401$4,469
10 years$8,220$7,430$6,709$6,051$5,454$3,633
11 years$7,397$6,615$5,906$5,267$4,690$2,978
12 years$6,711$5,937$5,242$4,619$4,065$2,456
13 years$6,131$5,365$4,683$4,078$3,544$2,036
14 years$5,635$4,877$4,208$3,620$3,107$1,695
15 years$5,205$4,455$3,799$3,229$2,736$1,416
16 years$4,829$4,088$3,444$2,891$2,418$1,186
17 years$4,498$3,765$3,134$2,597$2,144$996
18 years$4,204$3,479$2,861$2,341$1,906$838
19 years$3,941$3,224$2,619$2,115$1,699$706
20 years$3,705$2,996$2,404$1,916$1,518$595
21 years$3,491$2,790$2,211$1,739$1,358$503
22 years$3,297$2,605$2,038$1,581$1,217$425
23 years$3,121$2,436$1,882$1,440$1,093$360
24 years$2,959$2,283$1,740$1,313$982$304
25 years$2,810$2,142$1,612$1,199$884$258
26 years$2,673$2,013$1,495$1,096$796$218
27 years$2,547$1,895$1,388$1,004$718$185
28 years$2,429$1,785$1,290$919$648$157
29 years$2,320$1,684$1,201$843$585$133
30 years$2,219$1,591$1,119$774$528$113
31 years$2,124$1,504$1,043$711$478$96
32 years$2,035$1,423$973$653$432$81
33 years$1,952$1,347$908$601$391$69
34 years$1,874$1,277$849$553$354$59
35 years$1,800$1,211$794$509$321$50
36 years$1,731$1,150$742$469$291$42
37 years$1,666$1,092$695$432$263$36
38 years$1,604$1,038$651$398$239$31
39 years$1,546$987$610$367$217$26
40 years$1,490$939$571$338$196$22
41 years$1,438$894$536$312$178$19
42 years$1,388$851$503$288$162$16
43 years$1,340$811$472$266$147$13
44 years$1,295$773$443$246$133$11
45 years$1,252$737$416$227$121$10
46 years$1,211$703$390$210$110$8
47 years$1,172$671$367$194$100$7
48 years$1,134$641$345$179$91$6
49 years$1,098$612$324$165$82$5
50 years$1,064$584$305$153$75$4

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 $5,991 every year, while hoping to spend $55,191 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: 71/17/12 Blend
55$1,090,000$1,090,000$1,090,000$1,090,000
56$1,207,360$1,149,590$1,132,695$1,289,622
57$1,271,788$1,147,197$1,111,917$1,342,530
58$1,340,937$1,142,837$1,088,594$1,393,120
59$1,415,232$1,136,355$1,062,581$1,447,030
60$1,495,137$1,127,588$1,033,729$1,504,575
61$1,581,162$1,116,361$1,001,880$1,566,102
62$1,673,868$1,102,490$966,870$1,631,999
63$1,773,870$1,085,779$928,527$1,702,690
64$1,881,843$1,066,021$886,672$1,778,645
65$1,998,532$1,042,996$841,116$1,860,384
66$2,124,752$1,016,473$791,663$1,948,479
67$2,261,401$986,205$738,108$2,043,564
68$2,409,467$951,931$680,237$2,146,338
69$2,570,033$913,376$617,826$2,257,572
70$2,744,293$870,248$550,639$2,378,121
71$2,933,559$822,239$478,434$2,508,925
72$3,139,274$769,021$400,954$2,651,024
73$3,363,028$710,251$317,934$2,805,566
74$3,606,566$645,562$229,094$2,973,818
75$3,871,810$574,569$134,143$3,157,181
76$4,160,877$496,866$32,779$3,357,199
77$4,476,095$412,020$0$3,575,577
78$4,820,025$319,577$0$3,823,853
79$5,195,488$219,057$0$4,099,558
80$5,605,588$109,951$0$4,400,828
81$6,053,744$0$0$4,730,243
82$6,543,718$0$0$5,092,193
83$7,079,653$0$0$5,510,645
84$7,666,110$0$0$5,968,599
85$8,308,112$0$0$6,469,984
86$9,011,190$0$0$7,019,128
87$9,781,435$0$0$7,620,793
88$10,625,555$0$0$8,280,229
89$11,550,937$0$0$9,003,214
90$12,565,718$0$0$9,796,113
91$13,678,859$0$0$10,665,937
92$14,900,230$0$0$11,620,407
93$16,240,704$0$0$12,668,029
94$17,712,258$0$0$13,818,173
95$19,328,082$0$0$15,081,158
96$21,102,709$0$0$16,468,354
97$23,052,148$0$0$17,992,285
98$25,194,034$0$0$19,666,748
99$27,547,796$0$0$21,506,942
100$30,134,836$0$0$23,529,614