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%11.9%
1 years$90,837$90,028$89,238$88,468$87,716$87,017
2 years$44,969$44,131$43,320$42,533$41,769$41,065
3 years$29,681$28,840$28,031$27,251$26,500$25,812
4 years$22,039$21,201$20,399$19,633$18,900$18,234
5 years$17,455$16,622$15,831$15,080$14,368$13,725
6 years$14,400$13,573$12,793$12,060$11,369$10,750
7 years$12,219$11,398$10,631$9,915$9,246$8,652
8 years$10,583$9,771$9,016$8,317$7,670$7,101
9 years$9,312$8,507$7,766$7,084$6,459$5,914
10 years$8,296$7,499$6,770$6,107$5,504$4,983
11 years$7,465$6,675$5,960$5,315$4,733$4,236
12 years$6,773$5,992$5,290$4,662$4,102$3,628
13 years$6,188$5,415$4,726$4,116$3,577$3,125
14 years$5,687$4,922$4,246$3,653$3,135$2,706
15 years$5,253$4,496$3,834$3,258$2,761$2,353
16 years$4,873$4,125$3,476$2,917$2,440$2,053
17 years$4,539$3,799$3,163$2,621$2,163$1,797
18 years$4,242$3,510$2,887$2,362$1,924$1,577
19 years$3,977$3,253$2,643$2,135$1,715$1,387
20 years$3,739$3,023$2,426$1,933$1,531$1,222
21 years$3,523$2,816$2,231$1,755$1,371$1,078
22 years$3,327$2,629$2,057$1,595$1,228$953
23 years$3,149$2,459$1,899$1,453$1,103$843
24 years$2,986$2,304$1,756$1,325$991$747
25 years$2,836$2,162$1,627$1,210$892$663
26 years$2,698$2,032$1,509$1,106$803$588
27 years$2,570$1,912$1,401$1,013$724$523
28 years$2,452$1,802$1,302$928$654$464
29 years$2,342$1,700$1,212$851$590$413
30 years$2,239$1,605$1,129$781$533$368
31 years$2,143$1,517$1,052$717$482$327
32 years$2,054$1,436$982$659$436$292
33 years$1,970$1,360$917$606$395$260
34 years$1,891$1,289$857$558$357$231
35 years$1,817$1,222$801$513$324$206
36 years$1,747$1,160$749$473$293$184
37 years$1,681$1,102$701$436$266$164
38 years$1,619$1,047$657$402$241$146
39 years$1,560$996$615$370$218$131
40 years$1,504$947$577$342$198$117
41 years$1,451$902$541$315$180$104
42 years$1,400$859$507$291$163$93
43 years$1,353$818$476$268$148$83
44 years$1,307$780$447$248$134$74
45 years$1,264$744$419$229$122$66
46 years$1,222$710$394$211$111$59
47 years$1,183$677$370$195$101$53
48 years$1,145$646$348$180$91$47
49 years$1,109$617$327$167$83$42
50 years$1,074$590$307$154$75$38

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 $3,824 every year, while hoping to spend $39,743 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: 58/35/7 Blend
55$1,100,000$1,100,000$1,100,000$1,100,000
56$1,216,144$1,157,844$1,140,794$1,284,634
57$1,297,905$1,172,293$1,136,725$1,345,539
58$1,386,673$1,186,117$1,131,187$1,407,055
59$1,483,121$1,199,244$1,124,089$1,473,115
60$1,587,990$1,211,598$1,115,337$1,544,157
61$1,702,094$1,223,095$1,104,829$1,620,664
62$1,826,328$1,233,647$1,092,462$1,703,167
63$1,961,679$1,243,161$1,078,124$1,792,256
64$2,109,231$1,251,536$1,061,702$1,888,579
65$2,270,178$1,258,667$1,043,075$1,992,851
66$2,445,835$1,264,441$1,022,117$2,105,861
67$2,637,648$1,268,736$998,695$2,228,482
68$2,847,209$1,271,426$972,673$2,361,673
69$3,076,273$1,272,373$943,906$2,506,495
70$3,326,768$1,271,435$912,242$2,664,118
71$3,600,820$1,268,457$877,524$2,835,833
72$3,900,769$1,263,277$839,586$3,023,064
73$4,229,192$1,255,722$798,257$3,227,381
74$4,588,926$1,245,609$753,355$3,450,520
75$4,983,096$1,232,744$704,692$3,694,391
76$5,415,144$1,216,920$652,071$3,961,105
77$5,888,860$1,197,920$595,287$4,252,990
78$6,408,417$1,175,512$534,123$4,572,614
79$6,978,415$1,149,451$468,355$4,922,808
80$7,603,917$1,119,478$397,749$5,306,699
81$8,290,502$1,085,318$322,059$5,727,733
82$9,044,315$1,046,680$241,029$6,189,712
83$9,872,124$1,003,257$154,393$6,696,832
84$10,781,387$954,722$61,871$7,253,718
85$11,780,317$900,732$0$7,865,473
86$12,877,964$840,922$0$8,540,480
87$14,084,296$774,907$0$9,287,302
88$15,410,296$702,280$0$10,108,185
89$16,868,065$622,611$0$11,010,704
90$18,470,933$535,444$0$12,003,212
91$20,233,587$440,299$0$13,094,921
92$22,172,207$336,668$0$14,295,986
93$24,304,623$224,016$0$15,617,606
94$26,650,478$101,776$0$17,072,127
95$29,231,413$0$0$18,673,163
96$32,071,275$0$0$20,447,530
97$35,196,338$0$0$22,443,334
98$38,635,551$0$0$24,639,880
99$42,420,814$0$0$27,057,554
100$46,587,274$0$0$29,718,820