Can I retire at age 56 with 1,230,000?

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 $1,230,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19%
1 years$101,572$100,667$99,785$98,923$98,082$94,527
2 years$50,283$49,347$48,439$47,559$46,706$43,163
3 years$33,189$32,249$31,343$30,472$29,632$26,213
4 years$24,644$23,706$22,810$21,953$21,134$17,865
5 years$19,518$18,586$17,701$16,862$16,066$12,955
6 years$16,102$15,177$14,305$13,485$12,712$9,762
7 years$13,663$12,745$11,888$11,087$10,338$7,548
8 years$11,834$10,925$10,082$9,300$8,577$5,944
9 years$10,413$9,512$8,683$7,922$7,223$4,745
10 years$9,276$8,385$7,570$6,829$6,154$3,826
11 years$8,347$7,464$6,665$5,943$5,293$3,109
12 years$7,573$6,700$5,915$5,213$4,587$2,542
13 years$6,919$6,055$5,285$4,602$4,000$2,089
14 years$6,359$5,503$4,748$4,085$3,506$1,724
15 years$5,873$5,027$4,287$3,643$3,087$1,427
16 years$5,449$4,613$3,887$3,262$2,728$1,184
17 years$5,076$4,248$3,537$2,931$2,419$984
18 years$4,744$3,925$3,229$2,641$2,151$820
19 years$4,447$3,638$2,956$2,387$1,917$684
20 years$4,180$3,381$2,713$2,162$1,712$571
21 years$3,939$3,149$2,495$1,962$1,532$478
22 years$3,721$2,939$2,300$1,784$1,374$400
23 years$3,521$2,749$2,123$1,625$1,233$335
24 years$3,339$2,576$1,964$1,482$1,108$280
25 years$3,171$2,417$1,819$1,353$997$235
26 years$3,017$2,272$1,687$1,237$898$197
27 years$2,874$2,138$1,566$1,132$810$165
28 years$2,741$2,015$1,456$1,038$731$139
29 years$2,618$1,901$1,355$951$660$116
30 years$2,504$1,795$1,262$873$596$98
31 years$2,397$1,697$1,177$802$539$82
32 years$2,297$1,606$1,098$737$488$69
33 years$2,203$1,520$1,025$678$441$58
34 years$2,115$1,441$958$624$400$49
35 years$2,032$1,367$895$574$362$41
36 years$1,954$1,297$838$529$328$34
37 years$1,880$1,232$784$487$297$29
38 years$1,810$1,171$734$449$269$24
39 years$1,744$1,113$688$414$244$20
40 years$1,682$1,059$645$382$222$17
41 years$1,622$1,008$605$352$201$14
42 years$1,566$960$567$325$182$12
43 years$1,512$915$532$300$166$10
44 years$1,461$872$500$277$150$9
45 years$1,413$832$469$256$136$7
46 years$1,366$793$441$236$124$6
47 years$1,322$757$414$218$112$5
48 years$1,280$723$389$202$102$4
49 years$1,240$690$366$187$93$4
50 years$1,201$659$344$172$84$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $1,230,000, adding $2,381 every year, while hoping to spend $50,518 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: 29/50/21 Blend
55$1,230,000$1,230,000$1,230,000$1,230,000
56$1,357,916$1,292,726$1,273,661$1,388,277
57$1,442,673$1,302,319$1,262,578$1,421,424
58$1,534,381$1,310,689$1,249,430$1,452,372
59$1,633,698$1,317,722$1,234,096$1,484,579
60$1,741,343$1,323,298$1,216,446$1,518,185
61$1,858,110$1,327,290$1,196,347$1,553,346
62$1,984,870$1,329,560$1,173,658$1,590,240
63$2,122,583$1,329,965$1,148,231$1,629,065
64$2,272,303$1,328,349$1,119,913$1,670,044
65$2,435,191$1,324,551$1,088,543$1,713,427
66$2,612,523$1,318,397$1,053,952$1,759,497
67$2,805,705$1,309,703$1,015,964$1,808,566
68$3,016,283$1,298,274$974,395$1,860,987
69$3,245,958$1,283,904$929,051$1,917,154
70$3,496,603$1,266,373$879,732$1,977,506
71$3,770,280$1,245,449$826,227$2,042,535
72$4,069,259$1,220,886$768,316$2,112,791
73$4,396,037$1,192,423$705,768$2,188,884
74$4,753,366$1,159,785$638,344$2,271,496
75$5,144,273$1,122,679$565,793$2,361,390
76$5,572,095$1,080,795$487,852$2,459,410
77$6,040,501$1,033,807$404,249$2,566,500
78$6,553,537$981,369$314,696$2,683,708
79$7,115,655$923,113$218,895$2,812,201
80$7,731,760$858,653$116,536$2,953,275
81$8,407,251$787,579$7,292$3,108,372
82$9,148,079$709,458$0$3,279,092
83$9,960,795$623,834$0$3,491,701
84$10,852,615$530,221$0$3,727,017
85$11,831,490$428,109$0$3,985,679
86$12,906,174$316,959$0$4,270,199
87$14,086,315$196,201$0$4,583,362
88$15,382,537$65,233$0$4,928,246
89$16,806,545$0$0$5,308,258
90$18,371,234$0$0$5,769,303
91$20,090,809$0$0$6,315,639
92$21,980,922$0$0$6,916,374
93$24,058,812$0$0$7,577,015
94$26,343,476$0$0$8,303,629
95$28,855,842$0$0$9,102,902
96$31,618,967$0$0$9,982,197
97$34,658,255$0$0$10,949,632
98$38,001,696$0$0$12,014,145
99$41,680,130$0$0$13,185,591
100$45,727,536$0$0$14,474,822