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%19.9%
1 years$104,050$103,123$102,219$101,336$100,474$96,488
2 years$51,510$50,550$49,621$48,719$47,845$43,878
3 years$33,999$33,035$32,108$31,215$30,355$26,532
4 years$25,245$24,284$23,366$22,489$21,649$18,000
5 years$19,994$19,039$18,133$17,273$16,457$12,992
6 years$16,495$15,547$14,654$13,814$13,022$9,741
7 years$13,996$13,056$12,178$11,357$10,591$7,494
8 years$12,123$11,192$10,328$9,527$8,786$5,870
9 years$10,667$9,744$8,895$8,115$7,399$4,659
10 years$9,502$8,589$7,755$6,995$6,304$3,735
11 years$8,551$7,646$6,827$6,088$5,422$3,018
12 years$7,758$6,863$6,059$5,340$4,699$2,453
13 years$7,088$6,202$5,414$4,714$4,097$2,003
14 years$6,514$5,638$4,864$4,185$3,592$1,642
15 years$6,017$5,150$4,392$3,732$3,162$1,351
16 years$5,582$4,725$3,982$3,342$2,795$1,114
17 years$5,199$4,352$3,623$3,003$2,478$920
18 years$4,859$4,021$3,307$2,706$2,203$761
19 years$4,555$3,727$3,028$2,445$1,964$631
20 years$4,282$3,463$2,779$2,214$1,754$523
21 years$4,036$3,226$2,556$2,010$1,570$434
22 years$3,811$3,011$2,356$1,827$1,407$361
23 years$3,607$2,816$2,175$1,664$1,263$300
24 years$3,420$2,639$2,012$1,518$1,135$250
25 years$3,248$2,476$1,863$1,386$1,022$208
26 years$3,090$2,327$1,728$1,267$920$173
27 years$2,944$2,190$1,605$1,160$830$144
28 years$2,808$2,064$1,492$1,063$749$120
29 years$2,682$1,947$1,388$975$676$100
30 years$2,565$1,839$1,293$895$611$83
31 years$2,455$1,738$1,205$822$552$69
32 years$2,353$1,645$1,125$755$500$58
33 years$2,256$1,558$1,050$694$452$48
34 years$2,166$1,476$981$639$409$40
35 years$2,081$1,400$917$588$371$34
36 years$2,001$1,329$858$542$336$28
37 years$1,926$1,262$803$499$304$23
38 years$1,854$1,200$752$460$276$19
39 years$1,787$1,141$705$424$250$16
40 years$1,723$1,085$660$391$227$14
41 years$1,662$1,033$619$361$206$11
42 years$1,604$984$581$333$187$9
43 years$1,549$937$545$307$170$8
44 years$1,497$894$512$284$154$7
45 years$1,447$852$480$262$140$5
46 years$1,400$813$451$242$127$5
47 years$1,355$776$424$224$115$4
48 years$1,311$740$398$207$105$3
49 years$1,270$707$374$191$95$3
50 years$1,230$675$352$177$86$2

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 $6,081 every year, while hoping to spend $40,537 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: 29/49/22 Blend
55$1,260,000$1,260,000$1,260,000$1,260,000
56$1,394,793$1,328,013$1,308,483$1,425,487
57$1,493,930$1,349,954$1,309,186$1,471,619
58$1,601,822$1,371,612$1,308,554$1,517,170
59$1,719,316$1,392,930$1,306,499$1,565,295
60$1,847,350$1,413,847$1,302,930$1,616,240
61$1,986,952$1,434,298$1,297,751$1,670,279
62$2,139,255$1,454,212$1,290,859$1,727,716
63$2,305,507$1,473,516$1,282,151$1,788,886
64$2,487,079$1,492,130$1,271,514$1,854,161
65$2,685,485$1,509,967$1,258,833$1,923,956
66$2,902,386$1,526,938$1,243,985$1,998,726
67$3,139,615$1,542,943$1,226,845$2,078,979
68$3,399,189$1,557,881$1,207,277$2,165,276
69$3,683,328$1,571,639$1,185,143$2,258,237
70$3,994,478$1,584,100$1,160,296$2,358,550
71$4,335,333$1,595,139$1,132,584$2,466,977
72$4,708,857$1,604,621$1,101,846$2,584,361
73$5,118,317$1,612,404$1,067,914$2,711,634
74$5,567,311$1,618,337$1,030,615$2,849,828
75$6,059,800$1,622,259$989,764$3,000,086
76$6,600,149$1,623,999$945,170$3,163,670
77$7,193,164$1,623,375$896,633$3,341,979
78$7,844,141$1,620,194$843,944$3,536,557
79$8,558,911$1,614,251$786,884$3,749,113
80$9,343,899$1,605,329$725,224$3,981,538
81$10,206,184$1,593,197$658,726$4,235,921
82$11,153,562$1,577,611$587,141$4,514,571
83$12,194,623$1,558,311$510,207$4,820,040
84$13,338,828$1,535,023$427,653$5,155,150
85$14,596,604$1,507,454$339,195$5,523,018
86$15,979,435$1,475,297$244,536$5,927,088
87$17,499,975$1,438,224$143,365$6,371,167
88$19,172,166$1,395,890$35,361$6,859,459
89$21,011,366$1,347,928$0$7,396,607
90$23,034,500$1,293,951$0$8,006,496
91$25,260,212$1,233,548$0$8,686,112
92$27,709,047$1,166,285$0$9,433,488
93$30,403,641$1,091,704$0$10,255,621
94$33,368,933$1,009,318$0$11,160,232
95$36,632,405$918,616$0$12,155,838
96$40,224,337$819,054$0$13,251,837
97$44,178,091$710,060$0$14,458,596
98$48,530,431$591,027$0$15,787,551
99$53,321,864$461,316$0$17,251,318
100$58,597,025$320,252$0$18,863,813