Can I retire at age 56 with 1,100,000?

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 $1,100,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13%
1 years$90,837$90,028$89,238$88,468$87,716$86,619
2 years$44,969$44,131$43,320$42,533$41,769$40,666
3 years$29,681$28,840$28,031$27,251$26,500$25,425
4 years$22,039$21,201$20,399$19,633$18,900$17,860
5 years$17,455$16,622$15,831$15,080$14,368$13,367
6 years$14,400$13,573$12,793$12,060$11,369$10,408
7 years$12,219$11,398$10,631$9,915$9,246$8,325
8 years$10,583$9,771$9,016$8,317$7,670$6,790
9 years$9,312$8,507$7,766$7,084$6,459$5,619
10 years$8,296$7,499$6,770$6,107$5,504$4,703
11 years$7,465$6,675$5,960$5,315$4,733$3,971
12 years$6,773$5,992$5,290$4,662$4,102$3,377
13 years$6,188$5,415$4,726$4,116$3,577$2,889
14 years$5,687$4,922$4,246$3,653$3,135$2,483
15 years$5,253$4,496$3,834$3,258$2,761$2,143
16 years$4,873$4,125$3,476$2,917$2,440$1,856
17 years$4,539$3,799$3,163$2,621$2,163$1,612
18 years$4,242$3,510$2,887$2,362$1,924$1,403
19 years$3,977$3,253$2,643$2,135$1,715$1,224
20 years$3,739$3,023$2,426$1,933$1,531$1,070
21 years$3,523$2,816$2,231$1,755$1,371$937
22 years$3,327$2,629$2,057$1,595$1,228$821
23 years$3,149$2,459$1,899$1,453$1,103$721
24 years$2,986$2,304$1,756$1,325$991$633
25 years$2,836$2,162$1,627$1,210$892$557
26 years$2,698$2,032$1,509$1,106$803$490
27 years$2,570$1,912$1,401$1,013$724$431
28 years$2,452$1,802$1,302$928$654$380
29 years$2,342$1,700$1,212$851$590$335
30 years$2,239$1,605$1,129$781$533$295
31 years$2,143$1,517$1,052$717$482$261
32 years$2,054$1,436$982$659$436$230
33 years$1,970$1,360$917$606$395$203
34 years$1,891$1,289$857$558$357$179
35 years$1,817$1,222$801$513$324$158
36 years$1,747$1,160$749$473$293$140
37 years$1,681$1,102$701$436$266$124
38 years$1,619$1,047$657$402$241$109
39 years$1,560$996$615$370$218$97
40 years$1,504$947$577$342$198$85
41 years$1,451$902$541$315$180$76
42 years$1,400$859$507$291$163$67
43 years$1,353$818$476$268$148$59
44 years$1,307$780$447$248$134$52
45 years$1,264$744$419$229$122$46
46 years$1,222$710$394$211$111$41
47 years$1,183$677$370$195$101$36
48 years$1,145$646$348$180$91$32
49 years$1,109$617$327$167$83$28
50 years$1,074$590$307$154$75$25

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $1,100,000, adding $4,713 every year, while hoping to spend $50,768 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: 44/28/28 Blend
55$1,100,000$1,100,000$1,100,000$1,100,000
56$1,217,061$1,158,761$1,141,711$1,260,538
57$1,287,185$1,161,524$1,125,942$1,294,790
58$1,362,760$1,162,720$1,107,943$1,326,693
59$1,444,288$1,162,220$1,087,585$1,360,306
60$1,532,321$1,159,885$1,064,736$1,395,817
61$1,627,467$1,155,568$1,039,253$1,433,436
62$1,730,391$1,149,114$1,010,991$1,473,398
63$1,841,826$1,140,356$979,794$1,515,966
64$1,962,578$1,129,119$945,503$1,561,432
65$2,093,533$1,115,218$907,950$1,610,123
66$2,235,665$1,098,455$866,957$1,662,402
67$2,390,044$1,078,621$822,342$1,718,674
68$2,557,851$1,055,495$773,912$1,779,390
69$2,740,380$1,028,843$721,467$1,845,053
70$2,939,058$998,415$664,795$1,916,219
71$3,155,455$963,951$603,679$1,993,510
72$3,391,298$925,171$537,889$2,077,615
73$3,648,487$881,781$467,185$2,169,301
74$3,929,115$833,471$391,318$2,269,417
75$4,235,484$779,910$310,026$2,378,910
76$4,570,129$720,752$223,038$2,498,826
77$4,935,841$655,627$130,068$2,630,329
78$5,335,692$584,147$30,820$2,774,708
79$5,773,063$505,902$0$2,933,393
80$6,251,680$420,455$0$3,130,405
81$6,775,644$327,350$0$3,356,349
82$7,349,470$226,101$0$3,604,053
83$7,978,132$116,195$0$3,875,780
84$8,667,106$0$0$4,174,023
85$9,422,425$0$0$4,502,436
86$10,250,731$0$0$4,901,976
87$11,159,342$0$0$5,340,389
88$12,156,316$0$0$5,821,580
89$13,250,532$0$0$6,349,851
90$14,451,768$0$0$6,929,941
91$15,770,794$0$0$7,567,072
92$17,219,478$0$0$8,266,993
93$18,810,888$0$0$9,036,041
94$20,559,426$0$0$9,881,195
95$22,480,954$0$0$10,810,144
96$24,592,949$0$0$11,831,360
97$26,914,664$0$0$12,954,175
98$29,467,310$0$0$14,188,872
99$32,274,259$0$0$15,546,779
100$35,361,256$0$0$17,040,378