Can I retire at age 56 with 1,170,000?

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 $1,170,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.2%
1 years$96,618$95,757$94,917$94,098$93,297$90,565
2 years$47,830$46,940$46,076$45,239$44,427$41,697
3 years$31,570$30,676$29,814$28,985$28,187$25,543
4 years$23,442$22,550$21,697$20,882$20,103$17,567
5 years$18,566$17,679$16,838$16,040$15,282$12,860
6 years$15,316$14,436$13,608$12,827$12,092$9,787
7 years$12,996$12,124$11,308$10,546$9,834$7,646
8 years$11,257$10,392$9,590$8,847$8,158$6,085
9 years$9,905$9,048$8,260$7,535$6,870$4,911
10 years$8,824$7,976$7,201$6,496$5,854$4,005
11 years$7,940$7,100$6,340$5,653$5,035$3,293
12 years$7,204$6,373$5,626$4,958$4,363$2,725
13 years$6,581$5,759$5,027$4,378$3,805$2,267
14 years$6,048$5,235$4,517$3,886$3,335$1,894
15 years$5,587$4,782$4,078$3,466$2,936$1,588
16 years$5,184$4,388$3,697$3,103$2,595$1,335
17 years$4,828$4,041$3,364$2,788$2,301$1,125
18 years$4,512$3,734$3,071$2,513$2,046$949
19 years$4,230$3,461$2,812$2,270$1,824$803
20 years$3,976$3,216$2,580$2,056$1,629$680
21 years$3,747$2,995$2,373$1,866$1,458$576
22 years$3,539$2,796$2,187$1,697$1,307$489
23 years$3,350$2,615$2,020$1,545$1,173$416
24 years$3,176$2,450$1,868$1,409$1,054$353
25 years$3,016$2,299$1,730$1,287$949$300
26 years$2,869$2,161$1,605$1,177$855$256
27 years$2,734$2,034$1,490$1,077$770$218
28 years$2,608$1,916$1,385$987$695$185
29 years$2,491$1,808$1,289$905$628$158
30 years$2,382$1,707$1,201$831$567$134
31 years$2,280$1,614$1,119$763$513$115
32 years$2,185$1,527$1,044$701$464$98
33 years$2,095$1,446$975$645$420$83
34 years$2,011$1,371$911$593$380$71
35 years$1,933$1,300$852$546$344$60
36 years$1,858$1,234$797$503$312$52
37 years$1,788$1,172$746$463$283$44
38 years$1,722$1,114$698$427$256$38
39 years$1,659$1,059$654$394$232$32
40 years$1,600$1,008$613$363$211$27
41 years$1,543$959$575$335$191$23
42 years$1,490$914$539$309$174$20
43 years$1,439$870$506$286$157$17
44 years$1,390$830$475$264$143$14
45 years$1,344$791$446$243$130$12
46 years$1,300$755$419$225$118$11
47 years$1,258$720$394$208$107$9
48 years$1,218$688$370$192$97$8
49 years$1,179$657$348$177$88$7
50 years$1,142$627$327$164$80$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $1,170,000, adding $6,365 every year, while hoping to spend $41,737 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: 65/6/29 Blend
55$1,170,000$1,170,000$1,170,000$1,170,000
56$1,295,905$1,233,895$1,215,760$1,369,782
57$1,383,680$1,249,949$1,212,081$1,436,587
58$1,479,009$1,265,389$1,206,879$1,504,394
59$1,582,618$1,280,144$1,200,059$1,577,608
60$1,695,307$1,294,133$1,191,523$1,656,767
61$1,817,955$1,307,272$1,181,166$1,742,464
62$1,951,530$1,319,472$1,168,879$1,835,353
63$2,097,095$1,330,635$1,154,546$1,936,158
64$2,255,824$1,340,661$1,138,048$2,045,674
65$2,429,005$1,349,441$1,119,259$2,164,782
66$2,618,057$1,356,857$1,098,048$2,294,452
67$2,824,544$1,362,788$1,074,278$2,435,753
68$3,050,184$1,367,102$1,047,803$2,589,867
69$3,296,873$1,369,659$1,018,474$2,758,095
70$3,566,694$1,370,313$986,133$2,941,877
71$3,861,943$1,368,905$950,615$3,142,795
72$4,185,149$1,365,268$911,748$3,362,600
73$4,539,094$1,359,226$869,351$3,603,219
74$4,926,843$1,350,590$823,237$3,866,781
75$5,351,774$1,339,161$773,207$4,155,631
76$5,817,602$1,324,727$719,057$4,472,359
77$6,328,423$1,307,065$660,571$4,819,819
78$6,888,747$1,285,936$597,525$5,201,158
79$7,503,541$1,261,088$529,684$5,619,850
80$8,178,276$1,232,256$456,802$6,079,723
81$8,918,980$1,199,156$378,625$6,585,000
82$9,732,291$1,161,489$294,884$7,140,338
83$10,625,522$1,118,940$205,300$7,750,872
84$11,606,729$1,071,172$109,581$8,422,263
85$12,684,788$1,017,832$7,425$9,160,757
86$13,869,475$958,545$0$9,973,238
87$15,171,562$892,914$0$10,898,733
88$16,602,915$820,520$0$11,918,671
89$18,176,608$740,921$0$13,040,089
90$19,907,043$653,647$0$14,273,274
91$21,810,089$558,204$0$15,629,560
92$23,903,232$454,069$0$17,121,437
93$26,205,732$340,690$0$18,762,668
94$28,738,816$217,482$0$20,568,418
95$31,525,867$83,831$0$22,555,397
96$34,592,652$0$0$24,742,022
97$37,967,560$0$0$27,152,603
98$41,681,871$0$0$29,811,792
99$45,770,054$0$0$32,738,742
100$50,270,085$0$0$35,960,655