Can I retire at age 56 with 1,140,000?

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 $1,140,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%20%
1 years$94,140$93,302$92,483$91,685$90,905$87,264
2 years$46,604$45,736$44,895$44,079$43,288$39,665
3 years$30,761$29,889$29,050$28,242$27,464$23,974
4 years$22,841$21,972$21,141$20,347$19,587$16,256
5 years$18,090$17,226$16,406$15,628$14,890$11,727
6 years$14,924$14,066$13,259$12,498$11,782$8,788
7 years$12,663$11,813$11,018$10,275$9,582$6,756
8 years$10,968$10,126$9,344$8,620$7,949$5,289
9 years$9,651$8,816$8,048$7,342$6,694$4,196
10 years$8,597$7,771$7,017$6,329$5,704$3,362
11 years$7,736$6,918$6,177$5,508$4,906$2,714
12 years$7,019$6,209$5,482$4,831$4,251$2,205
13 years$6,413$5,612$4,898$4,265$3,707$1,799
14 years$5,893$5,101$4,401$3,786$3,250$1,474
15 years$5,444$4,660$3,973$3,377$2,861$1,211
16 years$5,051$4,275$3,602$3,023$2,529$998
17 years$4,704$3,937$3,278$2,717$2,242$824
18 years$4,397$3,638$2,992$2,448$1,994$681
19 years$4,122$3,372$2,739$2,212$1,777$564
20 years$3,874$3,133$2,514$2,004$1,587$467
21 years$3,651$2,918$2,313$1,818$1,420$388
22 years$3,448$2,724$2,131$1,653$1,273$322
23 years$3,264$2,548$1,968$1,506$1,143$267
24 years$3,094$2,387$1,820$1,373$1,027$222
25 years$2,939$2,240$1,686$1,254$924$185
26 years$2,796$2,106$1,563$1,147$833$154
27 years$2,664$1,982$1,452$1,050$751$128
28 years$2,541$1,867$1,350$962$677$107
29 years$2,427$1,762$1,256$882$612$89
30 years$2,321$1,664$1,170$809$553$74
31 years$2,221$1,573$1,091$743$500$61
32 years$2,129$1,488$1,018$683$452$51
33 years$2,042$1,409$950$628$409$43
34 years$1,960$1,336$888$578$370$36
35 years$1,883$1,267$830$532$335$30
36 years$1,811$1,202$776$490$304$25
37 years$1,742$1,142$727$451$275$21
38 years$1,678$1,085$681$416$250$17
39 years$1,616$1,032$638$384$226$14
40 years$1,559$982$598$354$205$12
41 years$1,504$935$560$327$186$10
42 years$1,451$890$526$301$169$8
43 years$1,402$848$493$278$153$7
44 years$1,354$808$463$257$139$6
45 years$1,309$771$435$237$126$5
46 years$1,267$735$408$219$115$4
47 years$1,226$702$384$202$104$3
48 years$1,186$670$360$187$95$3
49 years$1,149$640$339$173$86$2
50 years$1,113$611$319$160$78$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $1,140,000, adding $3,622 every year, while hoping to spend $55,703 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: 43/28/29 Blend
55$1,140,000$1,140,000$1,140,000$1,140,000
56$1,260,016$1,199,596$1,181,926$1,303,406
57$1,329,270$1,199,109$1,162,253$1,334,423
58$1,403,721$1,196,731$1,140,054$1,362,476
59$1,483,841$1,192,310$1,115,186$1,391,820
60$1,570,146$1,185,687$1,087,498$1,422,606
61$1,663,205$1,176,690$1,056,833$1,455,008
62$1,763,643$1,165,138$1,023,028$1,489,219
63$1,872,145$1,150,841$985,910$1,525,456
64$1,989,466$1,133,594$945,300$1,563,964
65$2,116,434$1,113,183$901,010$1,605,015
66$2,253,960$1,089,379$852,844$1,648,917
67$2,403,046$1,061,940$800,596$1,696,010
68$2,564,792$1,030,611$744,052$1,746,677
69$2,740,411$995,121$682,988$1,801,347
70$2,931,235$955,183$617,169$1,860,495
71$3,138,728$910,495$546,352$1,924,655
72$3,364,503$860,734$470,280$1,994,419
73$3,610,335$805,563$388,687$2,070,450
74$3,878,175$744,621$301,294$2,153,482
75$4,170,172$677,531$207,810$2,244,336
76$4,488,690$603,890$107,932$2,343,924
77$4,836,332$523,276$1,343$2,453,259
78$5,215,961$435,240$0$2,573,469
79$5,630,732$339,309$0$2,740,587
80$6,084,115$234,984$0$2,923,927
81$6,579,934$121,737$0$3,124,727
82$7,122,396$0$0$3,344,818
83$7,716,136$0$0$3,586,526
84$8,366,256$0$0$3,892,392
85$9,078,375$0$0$4,227,567
86$9,858,680$0$0$4,594,982
87$10,713,988$0$0$4,997,864
88$11,651,804$0$0$5,439,766
89$12,680,394$0$0$5,924,605
90$13,808,863$0$0$6,456,691
91$15,047,241$0$0$7,040,776
92$16,406,575$0$0$7,682,090
93$17,899,032$0$0$8,386,397
94$19,538,019$0$0$9,160,048
95$21,338,301$0$0$10,010,035
96$23,316,144$0$0$10,944,064
97$25,489,470$0$0$11,970,623
98$27,878,020$0$0$13,099,065
99$30,503,544$0$0$14,339,693
100$33,390,003$0$0$15,703,857