Can I retire at age 56 with 1,110,000?

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 $1,110,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.2%
1 years$91,663$90,846$90,050$89,272$88,513$85,237
2 years$45,378$44,532$43,713$42,919$42,149$38,885
3 years$29,951$29,102$28,285$27,499$26,741$23,593
4 years$22,240$21,393$20,585$19,811$19,072$16,063
5 years$17,614$16,773$15,974$15,217$14,498$11,636
6 years$14,531$13,696$12,910$12,169$11,472$8,759
7 years$12,330$11,502$10,728$10,005$9,330$6,765
8 years$10,680$9,859$9,098$8,393$7,740$5,321
9 years$9,397$8,584$7,836$7,149$6,518$4,242
10 years$8,371$7,567$6,832$6,162$5,554$3,416
11 years$7,533$6,736$6,015$5,363$4,776$2,772
12 years$6,834$6,046$5,338$4,704$4,139$2,264
13 years$6,244$5,464$4,769$4,153$3,609$1,858
14 years$5,738$4,966$4,285$3,687$3,164$1,531
15 years$5,300$4,537$3,869$3,288$2,786$1,265
16 years$4,918$4,163$3,508$2,944$2,462$1,048
17 years$4,580$3,834$3,192$2,645$2,183$870
18 years$4,281$3,542$2,914$2,384$1,941$724
19 years$4,013$3,283$2,667$2,154$1,730$603
20 years$3,773$3,051$2,448$1,951$1,545$503
21 years$3,555$2,842$2,252$1,770$1,383$420
22 years$3,358$2,653$2,075$1,610$1,240$351
23 years$3,178$2,481$1,916$1,466$1,113$293
24 years$3,013$2,324$1,772$1,337$1,000$245
25 years$2,862$2,181$1,641$1,221$900$205
26 years$2,722$2,050$1,522$1,117$811$172
27 years$2,593$1,929$1,414$1,022$731$144
28 years$2,474$1,818$1,314$936$660$121
29 years$2,363$1,715$1,223$859$596$101
30 years$2,259$1,620$1,139$788$538$85
31 years$2,163$1,531$1,062$724$486$71
32 years$2,073$1,449$991$665$440$60
33 years$1,988$1,372$925$612$398$50
34 years$1,908$1,300$864$563$361$42
35 years$1,833$1,233$808$518$327$35
36 years$1,763$1,171$756$477$296$29
37 years$1,696$1,112$708$440$268$25
38 years$1,633$1,057$663$405$243$21
39 years$1,574$1,005$621$374$220$17
40 years$1,518$956$582$345$200$15
41 years$1,464$910$546$318$181$12
42 years$1,413$867$512$293$165$10
43 years$1,365$826$480$271$149$9
44 years$1,319$787$451$250$136$7
45 years$1,275$751$423$231$123$6
46 years$1,233$716$398$213$112$5
47 years$1,193$683$373$197$102$4
48 years$1,155$652$351$182$92$4
49 years$1,119$623$330$168$84$3
50 years$1,084$595$310$156$76$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $1,110,000, adding $2,968 every year, while hoping to spend $41,597 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: 48/26/26 Blend
55$1,110,000$1,110,000$1,110,000$1,110,000
56$1,226,281$1,167,451$1,150,246$1,275,932
57$1,307,103$1,180,398$1,144,521$1,324,008
58$1,394,775$1,192,584$1,137,209$1,371,839
59$1,489,951$1,203,930$1,128,215$1,422,962
60$1,593,351$1,214,348$1,117,435$1,477,706
61$1,705,768$1,223,746$1,104,765$1,536,437
62$1,828,074$1,232,027$1,090,092$1,599,559
63$1,961,227$1,239,085$1,073,299$1,667,518
64$2,106,282$1,244,810$1,054,264$1,740,811
65$2,264,400$1,249,084$1,032,860$1,819,986
66$2,436,860$1,251,780$1,008,951$1,905,647
67$2,625,067$1,252,765$982,399$1,998,464
68$2,830,571$1,251,897$953,056$2,099,180
69$3,055,075$1,249,026$920,769$2,208,613
70$3,300,455$1,243,991$885,378$2,327,669
71$3,568,778$1,236,623$846,715$2,457,349
72$3,862,318$1,226,742$804,604$2,598,761
73$4,183,579$1,214,157$758,863$2,753,128
74$4,535,319$1,198,665$709,299$2,921,801
75$4,920,573$1,180,052$655,713$3,106,277
76$5,342,688$1,158,090$597,895$3,308,204
77$5,805,345$1,132,540$535,628$3,529,407
78$6,312,601$1,103,145$468,682$3,771,901
79$6,868,922$1,069,635$396,819$4,037,912
80$7,479,230$1,031,725$319,791$4,329,897
81$8,148,945$989,113$237,337$4,650,571
82$8,884,036$941,478$149,186$5,002,932
83$9,691,078$888,481$55,054$5,390,290
84$10,577,317$829,765$0$5,816,300
85$11,550,731$764,951$0$6,297,592
86$12,620,110$693,639$0$6,843,143
87$13,795,140$615,405$0$7,442,669
88$15,086,487$529,803$0$8,101,692
89$16,505,906$436,361$0$8,826,299
90$18,066,344$334,578$0$9,623,202
91$19,782,067$223,928$0$10,499,803
92$21,668,791$103,855$0$11,464,263
93$23,743,834$0$0$12,525,579
94$26,026,273$0$0$13,701,180
95$28,537,129$0$0$15,027,253
96$31,299,562$0$0$16,486,335
97$34,339,090$0$0$18,091,923
98$37,683,829$0$0$19,858,885
99$41,364,759$0$0$21,803,608
100$45,416,016$0$0$23,944,145