Can I retire at age 56 with 1,270,000?

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 $1,270,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.8%
1 years$104,875$103,941$103,030$102,140$101,272$98,069
2 years$51,919$50,952$50,014$49,106$48,225$45,027
3 years$34,269$33,297$32,363$31,463$30,596$27,504
4 years$25,445$24,477$23,552$22,667$21,821$18,858
5 years$20,153$19,190$18,277$17,410$16,588$13,762
6 years$16,625$15,670$14,771$13,923$13,126$10,439
7 years$14,107$13,160$12,274$11,447$10,675$8,127
8 years$12,219$11,281$10,410$9,603$8,856$6,446
9 years$10,751$9,822$8,966$8,179$7,458$5,183
10 years$9,578$8,657$7,817$7,051$6,354$4,211
11 years$8,618$7,707$6,882$6,136$5,465$3,449
12 years$7,819$6,918$6,107$5,382$4,736$2,843
13 years$7,144$6,251$5,456$4,752$4,130$2,355
14 years$6,565$5,682$4,903$4,218$3,620$1,959
15 years$6,064$5,191$4,426$3,762$3,187$1,636
16 years$5,627$4,763$4,013$3,368$2,817$1,369
17 years$5,241$4,386$3,652$3,026$2,498$1,149
18 years$4,898$4,053$3,334$2,727$2,221$965
19 years$4,592$3,756$3,052$2,464$1,980$813
20 years$4,316$3,491$2,801$2,232$1,768$685
21 years$4,068$3,251$2,576$2,026$1,582$578
22 years$3,842$3,035$2,374$1,842$1,418$488
23 years$3,636$2,839$2,192$1,677$1,273$413
24 years$3,447$2,660$2,028$1,530$1,144$349
25 years$3,274$2,496$1,878$1,397$1,030$296
26 years$3,115$2,346$1,742$1,277$928$250
27 years$2,967$2,208$1,617$1,169$836$212
28 years$2,831$2,080$1,503$1,071$755$180
29 years$2,704$1,962$1,399$982$681$152
30 years$2,585$1,853$1,303$902$616$129
31 years$2,475$1,752$1,215$828$557$109
32 years$2,371$1,658$1,134$761$503$93
33 years$2,274$1,570$1,058$700$456$79
34 years$2,183$1,488$989$644$413$67
35 years$2,098$1,411$925$593$374$57
36 years$2,017$1,339$865$546$339$48
37 years$1,941$1,272$810$503$307$41
38 years$1,869$1,209$758$464$278$35
39 years$1,801$1,150$710$427$252$29
40 years$1,736$1,094$666$394$229$25
41 years$1,675$1,041$624$364$208$21
42 years$1,617$992$586$336$188$18
43 years$1,562$945$549$310$171$15
44 years$1,509$901$516$286$155$13
45 years$1,459$859$484$264$141$11
46 years$1,411$819$455$244$128$9
47 years$1,365$782$427$226$116$8
48 years$1,322$746$402$208$105$7
49 years$1,280$713$377$193$96$6
50 years$1,240$681$355$178$87$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $1,270,000, adding $3,413 every year, while hoping to spend $29,606 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: 67/16/17 Blend
55$1,270,000$1,270,000$1,270,000$1,270,000
56$1,403,061$1,335,751$1,316,066$1,491,066
57$1,514,672$1,369,702$1,328,653$1,584,251
58$1,636,676$1,404,324$1,340,670$1,682,334
59$1,770,100$1,439,620$1,352,066$1,788,857
60$1,916,079$1,475,589$1,362,788$1,904,646
61$2,075,857$1,512,232$1,372,781$2,030,612
62$2,250,810$1,549,547$1,381,984$2,167,759
63$2,442,450$1,587,531$1,390,338$2,317,192
64$2,652,441$1,626,182$1,397,776$2,480,129
65$2,882,619$1,665,494$1,404,230$2,657,911
66$3,135,004$1,705,460$1,409,629$2,852,017
67$3,411,819$1,746,073$1,413,897$3,064,075
68$3,715,517$1,787,323$1,416,954$3,295,879
69$4,048,796$1,829,198$1,418,719$3,549,405
70$4,414,630$1,871,686$1,419,103$3,826,831
71$4,816,295$1,914,770$1,418,015$4,130,557
72$5,257,397$1,958,434$1,415,358$4,463,228
73$5,741,911$2,002,657$1,411,033$4,827,756
74$6,274,216$2,047,418$1,404,933$5,227,353
75$6,859,136$2,092,690$1,396,947$5,665,555
76$7,501,982$2,138,447$1,386,960$6,146,262
77$8,208,611$2,184,657$1,374,849$6,673,769
78$8,985,471$2,231,287$1,360,488$7,252,809
79$9,839,667$2,278,298$1,343,742$7,888,600
80$10,779,027$2,325,649$1,324,472$8,586,891
81$11,812,178$2,373,296$1,302,532$9,354,015
82$12,948,621$2,421,188$1,277,768$10,196,955
83$14,198,827$2,469,273$1,250,020$11,123,404
84$15,574,332$2,517,492$1,219,120$12,141,840
85$17,087,845$2,565,781$1,184,892$13,261,606
86$18,753,372$2,614,071$1,147,153$14,492,999
87$20,586,344$2,662,288$1,105,710$15,847,367
88$22,603,763$2,710,352$1,060,363$17,337,214
89$24,824,364$2,758,176$1,010,902$18,976,322
90$27,268,789$2,805,666$957,107$20,779,877
91$29,959,784$2,852,723$898,749$22,764,617
92$32,922,412$2,899,236$835,587$24,948,986
93$36,184,290$2,945,091$767,371$27,353,313
94$39,775,849$2,990,162$693,840$29,999,998
95$43,730,621$3,034,315$614,719$32,913,731
96$48,085,556$3,077,408$529,723$36,121,716
97$52,881,367$3,119,286$438,554$39,653,939
98$58,162,921$3,159,785$340,900$43,543,442
99$63,979,654$3,198,730$236,435$47,826,641
100$70,386,044$3,235,933$124,821$52,543,668