Can I retire at age 56 with 1,260,000?

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 $1,260,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.9%
1 years$104,050$103,123$102,219$101,336$100,474$99,674
2 years$51,510$50,550$49,621$48,719$47,845$47,038
3 years$33,999$33,035$32,108$31,215$30,355$29,567
4 years$25,245$24,284$23,366$22,489$21,649$20,886
5 years$19,994$19,039$18,133$17,273$16,457$15,721
6 years$16,495$15,547$14,654$13,814$13,022$12,313
7 years$13,996$13,056$12,178$11,357$10,591$9,910
8 years$12,123$11,192$10,328$9,527$8,786$8,133
9 years$10,667$9,744$8,895$8,115$7,399$6,774
10 years$9,502$8,589$7,755$6,995$6,304$5,707
11 years$8,551$7,646$6,827$6,088$5,422$4,852
12 years$7,758$6,863$6,059$5,340$4,699$4,155
13 years$7,088$6,202$5,414$4,714$4,097$3,580
14 years$6,514$5,638$4,864$4,185$3,592$3,100
15 years$6,017$5,150$4,392$3,732$3,162$2,695
16 years$5,582$4,725$3,982$3,342$2,795$2,352
17 years$5,199$4,352$3,623$3,003$2,478$2,058
18 years$4,859$4,021$3,307$2,706$2,203$1,806
19 years$4,555$3,727$3,028$2,445$1,964$1,588
20 years$4,282$3,463$2,779$2,214$1,754$1,399
21 years$4,036$3,226$2,556$2,010$1,570$1,235
22 years$3,811$3,011$2,356$1,827$1,407$1,092
23 years$3,607$2,816$2,175$1,664$1,263$966
24 years$3,420$2,639$2,012$1,518$1,135$856
25 years$3,248$2,476$1,863$1,386$1,022$759
26 years$3,090$2,327$1,728$1,267$920$674
27 years$2,944$2,190$1,605$1,160$830$599
28 years$2,808$2,064$1,492$1,063$749$532
29 years$2,682$1,947$1,388$975$676$473
30 years$2,565$1,839$1,293$895$611$421
31 years$2,455$1,738$1,205$822$552$375
32 years$2,353$1,645$1,125$755$500$334
33 years$2,256$1,558$1,050$694$452$298
34 years$2,166$1,476$981$639$409$265
35 years$2,081$1,400$917$588$371$236
36 years$2,001$1,329$858$542$336$211
37 years$1,926$1,262$803$499$304$188
38 years$1,854$1,200$752$460$276$168
39 years$1,787$1,141$705$424$250$150
40 years$1,723$1,085$660$391$227$134
41 years$1,662$1,033$619$361$206$119
42 years$1,604$984$581$333$187$106
43 years$1,549$937$545$307$170$95
44 years$1,497$894$512$284$154$85
45 years$1,447$852$480$262$140$76
46 years$1,400$813$451$242$127$68
47 years$1,355$776$424$224$115$60
48 years$1,311$740$398$207$105$54
49 years$1,270$707$374$191$95$48
50 years$1,230$675$352$177$86$43

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $1,260,000, adding $6,198 every year, while hoping to spend $47,055 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: 48/23/29 Blend
55$1,260,000$1,260,000$1,260,000$1,260,000
56$1,394,913$1,328,133$1,308,603$1,450,053
57$1,487,128$1,343,146$1,302,375$1,504,535
58$1,587,172$1,357,317$1,294,362$1,558,582
59$1,695,794$1,370,555$1,284,453$1,616,377
60$1,813,817$1,382,764$1,272,534$1,678,297
61$1,942,147$1,393,841$1,258,485$1,744,761
62$2,081,782$1,403,675$1,242,180$1,816,233
63$2,233,818$1,412,149$1,223,487$1,893,225
64$2,399,461$1,419,139$1,202,268$1,976,304
65$2,580,042$1,424,512$1,178,379$2,066,097
66$2,777,020$1,428,126$1,151,669$2,163,298
67$2,992,005$1,429,834$1,121,979$2,268,676
68$3,226,767$1,429,474$1,089,143$2,383,078
69$3,483,258$1,426,878$1,052,990$2,507,445
70$3,763,622$1,421,867$1,013,337$2,642,813
71$4,070,223$1,414,250$969,996$2,790,330
72$4,405,663$1,403,826$922,768$2,951,264
73$4,772,807$1,390,379$871,446$3,127,018
74$5,174,809$1,373,683$815,815$3,319,140
75$5,615,143$1,353,497$755,649$3,529,343
76$6,097,635$1,329,566$690,710$3,759,518
77$6,626,498$1,301,619$620,753$4,011,755
78$7,206,373$1,269,371$545,521$4,288,361
79$7,842,370$1,232,517$464,743$4,591,888
80$8,540,118$1,190,737$378,138$4,925,150
81$9,305,819$1,143,692$285,414$5,291,259
82$10,146,301$1,091,021$186,264$5,693,648
83$11,069,088$1,032,345$80,369$6,136,110
84$12,082,467$967,262$0$6,622,830
85$13,195,567$895,346$0$7,168,533
86$14,418,444$816,148$0$7,795,415
87$15,762,179$729,193$0$8,484,326
88$17,238,976$633,978$0$9,241,601
89$18,862,281$529,973$0$10,074,224
90$20,646,909$416,616$0$10,989,893
91$22,609,180$293,317$0$11,997,099
92$24,767,076$159,449$0$13,105,201
93$27,140,407$14,352$0$14,324,518
94$29,751,002$0$0$15,666,427
95$32,622,909$0$0$17,179,578
96$35,782,625$0$0$18,848,527
97$39,259,346$0$0$20,685,084
98$43,085,240$0$0$22,706,260
99$47,295,751$0$0$24,930,802
100$51,929,931$0$0$27,379,366