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%19.7%
1 years$96,618$95,757$94,917$94,098$93,297$89,667
2 years$47,830$46,940$46,076$45,239$44,427$40,813
3 years$31,570$30,676$29,814$28,985$28,187$24,703
4 years$23,442$22,550$21,697$20,882$20,103$16,776
5 years$18,566$17,679$16,838$16,040$15,282$12,121
6 years$15,316$14,436$13,608$12,827$12,092$9,098
7 years$12,996$12,124$11,308$10,546$9,834$7,007
8 years$11,257$10,392$9,590$8,847$8,158$5,495
9 years$9,905$9,048$8,260$7,535$6,870$4,367
10 years$8,824$7,976$7,201$6,496$5,854$3,506
11 years$7,940$7,100$6,340$5,653$5,035$2,836
12 years$7,204$6,373$5,626$4,958$4,363$2,308
13 years$6,581$5,759$5,027$4,378$3,805$1,888
14 years$6,048$5,235$4,517$3,886$3,335$1,550
15 years$5,587$4,782$4,078$3,466$2,936$1,276
16 years$5,184$4,388$3,697$3,103$2,595$1,054
17 years$4,828$4,041$3,364$2,788$2,301$872
18 years$4,512$3,734$3,071$2,513$2,046$722
19 years$4,230$3,461$2,812$2,270$1,824$600
20 years$3,976$3,216$2,580$2,056$1,629$498
21 years$3,747$2,995$2,373$1,866$1,458$414
22 years$3,539$2,796$2,187$1,697$1,307$345
23 years$3,350$2,615$2,020$1,545$1,173$287
24 years$3,176$2,450$1,868$1,409$1,054$239
25 years$3,016$2,299$1,730$1,287$949$199
26 years$2,869$2,161$1,605$1,177$855$166
27 years$2,734$2,034$1,490$1,077$770$139
28 years$2,608$1,916$1,385$987$695$116
29 years$2,491$1,808$1,289$905$628$97
30 years$2,382$1,707$1,201$831$567$81
31 years$2,280$1,614$1,119$763$513$67
32 years$2,185$1,527$1,044$701$464$56
33 years$2,095$1,446$975$645$420$47
34 years$2,011$1,371$911$593$380$39
35 years$1,933$1,300$852$546$344$33
36 years$1,858$1,234$797$503$312$27
37 years$1,788$1,172$746$463$283$23
38 years$1,722$1,114$698$427$256$19
39 years$1,659$1,059$654$394$232$16
40 years$1,600$1,008$613$363$211$13
41 years$1,543$959$575$335$191$11
42 years$1,490$914$539$309$174$9
43 years$1,439$870$506$286$157$8
44 years$1,390$830$475$264$143$6
45 years$1,344$791$446$243$130$5
46 years$1,300$755$419$225$118$5
47 years$1,258$720$394$208$107$4
48 years$1,218$688$370$192$97$3
49 years$1,179$657$348$177$88$3
50 years$1,142$627$327$164$80$2

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 $6,852 every year, while hoping to spend $35,240 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: 43/31/26 Blend
55$1,170,000$1,170,000$1,170,000$1,170,000
56$1,296,408$1,234,398$1,216,263$1,342,073
57$1,391,146$1,257,388$1,219,513$1,398,335
58$1,494,367$1,280,324$1,221,690$1,455,370
59$1,606,898$1,303,165$1,222,722$1,516,482
60$1,729,651$1,325,869$1,222,532$1,582,067
61$1,863,627$1,348,390$1,221,040$1,652,563
62$2,009,933$1,370,676$1,218,160$1,728,456
63$2,169,782$1,392,676$1,213,805$1,810,279
64$2,344,514$1,414,330$1,207,881$1,898,624
65$2,535,600$1,435,579$1,200,291$1,994,142
66$2,744,664$1,456,354$1,190,933$2,097,553
67$2,973,491$1,476,587$1,179,700$2,209,651
68$3,224,047$1,496,200$1,166,481$2,331,315
69$3,498,499$1,515,113$1,151,157$2,463,512
70$3,799,232$1,533,239$1,133,606$2,607,312
71$4,128,872$1,550,486$1,113,700$2,763,894
72$4,490,311$1,566,755$1,091,304$2,934,562
73$4,886,737$1,581,940$1,066,277$3,120,752
74$5,321,658$1,595,929$1,038,471$3,324,053
75$5,798,940$1,608,602$1,007,733$3,546,215
76$6,322,841$1,619,832$973,901$3,789,172
77$6,898,051$1,629,484$936,806$4,055,055
78$7,529,735$1,637,412$896,272$4,346,221
79$8,223,586$1,643,464$852,116$4,665,265
80$8,985,874$1,647,475$804,143$5,015,055
81$9,823,504$1,649,272$752,153$5,398,752
82$10,744,086$1,648,671$695,935$5,819,845
83$11,756,003$1,645,477$635,269$6,282,186
84$12,868,490$1,639,480$569,926$6,790,020
85$14,091,723$1,630,461$499,664$7,348,033
86$15,436,910$1,618,185$424,235$7,961,393
87$16,916,403$1,602,404$343,375$8,635,803
88$18,543,810$1,582,855$256,811$9,377,551
89$20,334,123$1,559,260$164,259$10,193,575
90$22,303,861$1,531,321$65,420$11,091,527
91$24,471,226$1,498,727$0$12,079,846
92$26,856,273$1,461,146$0$13,178,954
93$29,481,096$1,418,226$0$14,408,093
94$32,370,045$1,369,596$0$15,760,511
95$35,549,945$1,314,862$0$17,248,792
96$39,050,357$1,253,607$0$18,886,807
97$42,903,852$1,185,393$0$20,689,846
98$47,146,320$1,109,752$0$22,674,763
99$51,817,307$1,026,192$0$24,860,138
100$56,960,390$934,193$0$27,266,449