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

Use the below retirement simulation to view the chances of a successful retirement.
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%19.4%
1 years$104,050$103,123$102,219$101,336$100,474$96,679
2 years$51,510$50,550$49,621$48,719$47,845$44,065
3 years$33,999$33,035$32,108$31,215$30,355$26,710
4 years$25,245$24,284$23,366$22,489$21,649$18,166
5 years$19,994$19,039$18,133$17,273$16,457$13,146
6 years$16,495$15,547$14,654$13,814$13,022$9,884
7 years$13,996$13,056$12,178$11,357$10,591$7,625
8 years$12,123$11,192$10,328$9,527$8,786$5,991
9 years$10,667$9,744$8,895$8,115$7,399$4,770
10 years$9,502$8,589$7,755$6,995$6,304$3,836
11 years$8,551$7,646$6,827$6,088$5,422$3,110
12 years$7,758$6,863$6,059$5,340$4,699$2,536
13 years$7,088$6,202$5,414$4,714$4,097$2,078
14 years$6,514$5,638$4,864$4,185$3,592$1,710
15 years$6,017$5,150$4,392$3,732$3,162$1,411
16 years$5,582$4,725$3,982$3,342$2,795$1,168
17 years$5,199$4,352$3,623$3,003$2,478$968
18 years$4,859$4,021$3,307$2,706$2,203$804
19 years$4,555$3,727$3,028$2,445$1,964$669
20 years$4,282$3,463$2,779$2,214$1,754$557
21 years$4,036$3,226$2,556$2,010$1,570$464
22 years$3,811$3,011$2,356$1,827$1,407$387
23 years$3,607$2,816$2,175$1,664$1,263$323
24 years$3,420$2,639$2,012$1,518$1,135$270
25 years$3,248$2,476$1,863$1,386$1,022$226
26 years$3,090$2,327$1,728$1,267$920$189
27 years$2,944$2,190$1,605$1,160$830$158
28 years$2,808$2,064$1,492$1,063$749$132
29 years$2,682$1,947$1,388$975$676$110
30 years$2,565$1,839$1,293$895$611$92
31 years$2,455$1,738$1,205$822$552$77
32 years$2,353$1,645$1,125$755$500$65
33 years$2,256$1,558$1,050$694$452$54
34 years$2,166$1,476$981$639$409$45
35 years$2,081$1,400$917$588$371$38
36 years$2,001$1,329$858$542$336$32
37 years$1,926$1,262$803$499$304$27
38 years$1,854$1,200$752$460$276$22
39 years$1,787$1,141$705$424$250$19
40 years$1,723$1,085$660$391$227$16
41 years$1,662$1,033$619$361$206$13
42 years$1,604$984$581$333$187$11
43 years$1,549$937$545$307$170$9
44 years$1,497$894$512$284$154$8
45 years$1,447$852$480$262$140$6
46 years$1,400$813$451$242$127$5
47 years$1,355$776$424$224$115$5
48 years$1,311$740$398$207$105$4
49 years$1,270$707$374$191$95$3
50 years$1,230$675$352$177$86$3

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 $5,978 every year, while hoping to spend $31,238 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: 39/45/16 Blend
55$1,260,000$1,260,000$1,260,000$1,260,000
56$1,394,686$1,327,906$1,308,376$1,442,185
57$1,503,707$1,359,737$1,318,970$1,508,465
58$1,622,802$1,392,080$1,328,871$1,576,625
59$1,752,963$1,424,928$1,338,025$1,649,658
60$1,895,288$1,458,271$1,346,371$1,728,021
61$2,050,980$1,492,100$1,353,847$1,812,216
62$2,221,368$1,526,401$1,360,389$1,902,799
63$2,407,913$1,561,159$1,365,927$2,000,378
64$2,612,224$1,596,360$1,370,390$2,105,626
65$2,836,074$1,631,985$1,373,701$2,219,284
66$3,081,415$1,668,014$1,375,782$2,342,168
67$3,350,397$1,704,424$1,376,548$2,475,179
68$3,645,388$1,741,191$1,375,912$2,619,306
69$3,968,994$1,778,287$1,373,783$2,775,643
70$4,324,090$1,815,681$1,370,062$2,945,395
71$4,713,838$1,853,341$1,364,651$3,129,889
72$5,141,725$1,891,229$1,357,442$3,330,588
73$5,611,589$1,929,308$1,348,324$3,549,105
74$6,127,659$1,967,532$1,337,181$3,787,219
75$6,694,595$2,005,855$1,323,891$4,046,889
76$7,317,528$2,044,227$1,308,326$4,330,275
77$8,002,114$2,082,592$1,290,353$4,639,761
78$8,754,580$2,120,889$1,269,830$4,977,972
79$9,581,790$2,159,056$1,246,612$5,347,802
80$10,491,304$2,197,021$1,220,545$5,752,443
81$11,491,451$2,234,709$1,191,468$6,195,412
82$12,591,410$2,272,041$1,159,212$6,680,589
83$13,801,291$2,308,928$1,123,603$7,212,249
84$15,132,235$2,345,278$1,084,457$7,795,106
85$16,596,517$2,380,990$1,041,580$8,434,355
86$18,207,660$2,415,957$994,771$9,135,726
87$19,980,567$2,450,064$943,821$9,905,533
88$21,931,655$2,483,188$888,509$10,750,740
89$24,079,016$2,515,196$828,606$11,679,021
90$26,442,583$2,545,948$763,872$12,698,836
91$29,044,320$2,575,293$694,056$13,819,515
92$31,908,430$2,603,072$618,896$15,051,338
93$35,061,578$2,629,111$538,117$16,405,641
94$38,533,150$2,653,228$451,435$17,894,919
95$42,355,525$2,675,230$358,551$19,532,947
96$46,564,379$2,694,906$259,154$21,334,908
97$51,199,027$2,712,038$152,916$23,317,543
98$56,302,789$2,726,389$39,500$25,499,301
99$61,923,400$2,737,710$0$27,900,522
100$68,113,463$2,745,733$0$30,557,546