Can I retire at age 56 with 1,130,000?

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 $1,130,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.7%
1 years$93,314$92,483$91,672$90,881$90,108$86,601
2 years$46,195$45,335$44,501$43,693$42,908$39,418
3 years$30,491$29,627$28,795$27,994$27,223$23,858
4 years$22,640$21,779$20,955$20,168$19,416$16,203
5 years$17,931$17,075$16,262$15,491$14,759$11,706
6 years$14,793$13,943$13,142$12,388$11,679$8,787
7 years$12,552$11,709$10,921$10,185$9,498$6,767
8 years$10,872$10,037$9,262$8,544$7,879$5,307
9 years$9,566$8,739$7,978$7,278$6,636$4,218
10 years$8,522$7,703$6,955$6,273$5,654$3,386
11 years$7,668$6,858$6,123$5,460$4,862$2,739
12 years$6,957$6,155$5,434$4,789$4,214$2,229
13 years$6,356$5,562$4,855$4,228$3,674$1,823
14 years$5,842$5,056$4,362$3,753$3,221$1,497
15 years$5,396$4,619$3,938$3,347$2,836$1,233
16 years$5,006$4,238$3,571$2,997$2,506$1,018
17 years$4,663$3,903$3,249$2,693$2,222$842
18 years$4,358$3,606$2,966$2,427$1,976$698
19 years$4,085$3,342$2,715$2,193$1,761$579
20 years$3,841$3,106$2,492$1,986$1,573$481
21 years$3,619$2,893$2,292$1,802$1,408$400
22 years$3,418$2,700$2,113$1,639$1,262$333
23 years$3,235$2,526$1,951$1,492$1,133$277
24 years$3,067$2,366$1,804$1,361$1,018$231
25 years$2,913$2,221$1,671$1,243$916$193
26 years$2,771$2,087$1,550$1,137$825$161
27 years$2,640$1,964$1,439$1,040$744$134
28 years$2,519$1,851$1,338$953$671$112
29 years$2,405$1,746$1,245$874$606$93
30 years$2,300$1,649$1,160$802$548$78
31 years$2,202$1,559$1,081$737$495$65
32 years$2,110$1,475$1,009$677$448$54
33 years$2,024$1,397$942$623$405$45
34 years$1,943$1,324$880$573$367$38
35 years$1,866$1,256$823$527$332$32
36 years$1,795$1,192$770$486$301$26
37 years$1,727$1,132$720$448$273$22
38 years$1,663$1,076$675$413$248$18
39 years$1,602$1,023$632$380$224$15
40 years$1,545$973$592$351$204$13
41 years$1,490$926$555$324$185$11
42 years$1,439$882$521$299$168$9
43 years$1,389$841$489$276$152$7
44 years$1,343$801$459$255$138$6
45 years$1,298$764$431$235$125$5
46 years$1,255$729$405$217$114$4
47 years$1,215$696$380$201$103$4
48 years$1,176$664$357$185$94$3
49 years$1,139$634$336$171$85$3
50 years$1,103$606$316$158$77$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $1,130,000, adding $2,194 every year, while hoping to spend $50,628 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: 48/29/23 Blend
55$1,130,000$1,130,000$1,130,000$1,130,000
56$1,247,523$1,187,633$1,170,118$1,299,162
57$1,320,903$1,191,959$1,155,449$1,339,785
58$1,400,070$1,194,801$1,138,592$1,378,639
59$1,485,562$1,196,031$1,119,420$1,419,802
60$1,577,969$1,195,516$1,097,800$1,463,513
61$1,677,940$1,193,114$1,073,594$1,510,041
62$1,786,186$1,188,673$1,046,656$1,559,681
63$1,903,492$1,182,033$1,016,834$1,612,762
64$2,030,719$1,173,023$983,969$1,669,652
65$2,168,815$1,161,464$947,895$1,730,758
66$2,318,822$1,147,164$908,437$1,796,530
67$2,481,887$1,129,920$865,415$1,867,472
68$2,659,271$1,109,518$818,637$1,944,139
69$2,852,361$1,085,728$767,906$2,027,149
70$3,062,684$1,058,312$713,013$2,117,187
71$3,291,921$1,027,012$653,742$2,215,013
72$3,541,921$991,559$589,866$2,321,470
73$3,814,718$951,667$521,149$2,437,491
74$4,112,554$907,033$447,342$2,564,109
75$4,437,894$857,338$368,187$2,702,472
76$4,793,454$802,242$283,416$2,853,847
77$5,182,222$741,387$192,746$3,019,641
78$5,607,489$674,395$95,883$3,201,410
79$6,072,878$600,866$0$3,400,875
80$6,582,380$520,377$0$3,621,780
81$7,140,389$432,482$0$3,889,628
82$7,751,743$336,707$0$4,183,278
83$8,421,770$232,555$0$4,505,397
84$9,156,339$119,500$0$4,858,928
85$9,961,915$0$0$5,247,121
86$10,845,615$0$0$5,674,524
87$11,815,282$0$0$6,185,474
88$12,879,552$0$0$6,746,404
89$14,047,940$0$0$7,362,344
90$15,330,926$0$0$8,038,836
91$16,740,054$0$0$8,781,984
92$18,288,042$0$0$9,598,513
93$19,988,902$0$0$10,495,833
94$21,858,066$0$0$11,482,106
95$23,912,540$0$0$12,566,322
96$26,171,056$0$0$13,758,389
97$28,654,252$0$0$15,069,222
98$31,384,868$0$0$16,510,845
99$34,387,955$0$0$18,096,507
100$37,691,115$0$0$19,840,806