Can I retire at age 56 with 1,280,000?

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 $1,280,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.3%
1 years$105,701$104,760$103,841$102,944$102,069$101,087
2 years$52,327$51,353$50,408$49,493$48,604$47,615
3 years$34,538$33,560$32,618$31,710$30,837$29,871
4 years$25,646$24,670$23,737$22,846$21,993$21,058
5 years$20,311$19,341$18,421$17,548$16,719$15,818
6 years$16,756$15,794$14,887$14,033$13,229$12,363
7 years$14,218$13,264$12,371$11,537$10,759$9,927
8 years$12,315$11,369$10,492$9,678$8,925$8,129
9 years$10,836$9,899$9,036$8,244$7,516$6,755
10 years$9,653$8,726$7,878$7,106$6,404$5,677
11 years$8,686$7,768$6,936$6,185$5,508$4,815
12 years$7,881$6,972$6,155$5,425$4,773$4,113
13 years$7,200$6,301$5,499$4,789$4,162$3,534
14 years$6,617$5,727$4,941$4,251$3,649$3,052
15 years$6,112$5,232$4,461$3,791$3,212$2,647
16 years$5,671$4,800$4,045$3,395$2,839$2,303
17 years$5,282$4,421$3,681$3,050$2,517$2,010
18 years$4,936$4,085$3,360$2,749$2,238$1,759
19 years$4,628$3,786$3,076$2,484$1,995$1,542
20 years$4,350$3,518$2,823$2,250$1,782$1,355
21 years$4,100$3,277$2,596$2,042$1,595$1,192
22 years$3,872$3,059$2,393$1,856$1,429$1,051
23 years$3,664$2,861$2,210$1,691$1,283$927
24 years$3,475$2,680$2,043$1,542$1,153$819
25 years$3,300$2,515$1,893$1,408$1,038$724
26 years$3,139$2,364$1,755$1,288$935$641
27 years$2,991$2,225$1,630$1,179$843$567
28 years$2,853$2,097$1,515$1,080$761$503
29 years$2,725$1,978$1,410$990$687$446
30 years$2,606$1,868$1,313$909$621$395
31 years$2,494$1,766$1,225$835$561$351
32 years$2,390$1,671$1,142$767$507$311
33 years$2,292$1,582$1,067$705$459$276
34 years$2,201$1,500$997$649$416$246
35 years$2,114$1,422$932$597$377$218
36 years$2,033$1,350$872$550$341$194
37 years$1,956$1,282$816$507$309$172
38 years$1,884$1,219$764$467$280$153
39 years$1,815$1,159$716$431$254$136
40 years$1,750$1,102$671$397$231$121
41 years$1,688$1,049$629$367$209$108
42 years$1,630$999$590$338$190$96
43 years$1,574$952$554$312$172$85
44 years$1,521$908$520$288$156$76
45 years$1,470$866$488$266$142$68
46 years$1,422$826$458$246$129$60
47 years$1,376$788$431$227$117$54
48 years$1,332$752$405$210$106$48
49 years$1,290$718$380$194$97$42
50 years$1,250$686$358$179$88$38

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $1,280,000, adding $4,649 every year, while hoping to spend $35,836 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: 32/44/24 Blend
55$1,280,000$1,280,000$1,280,000$1,280,000
56$1,415,355$1,347,515$1,327,675$1,450,088
57$1,521,592$1,375,414$1,334,023$1,504,675
58$1,637,465$1,403,479$1,339,383$1,559,894
59$1,763,917$1,431,681$1,343,683$1,618,646
60$1,901,989$1,459,986$1,346,849$1,681,266
61$2,052,827$1,488,360$1,348,803$1,748,120
62$2,217,690$1,516,765$1,349,463$1,819,616
63$2,397,967$1,545,159$1,348,743$1,896,203
64$2,595,185$1,573,497$1,346,551$1,978,377
65$2,811,028$1,601,732$1,342,794$2,066,684
66$3,047,347$1,629,811$1,337,372$2,161,731
67$3,306,182$1,657,678$1,330,180$2,264,184
68$3,589,781$1,685,273$1,321,110$2,374,781
69$3,900,618$1,712,530$1,310,046$2,494,336
70$4,241,418$1,739,381$1,296,869$2,623,749
71$4,615,181$1,765,749$1,281,453$2,764,012
72$5,025,215$1,791,556$1,263,667$2,916,221
73$5,475,159$1,816,715$1,243,372$3,081,587
74$5,969,025$1,841,133$1,220,425$3,261,445
75$6,511,230$1,864,714$1,194,674$3,457,272
76$7,106,642$1,887,350$1,165,961$3,670,695
77$7,760,620$1,908,931$1,134,121$3,903,511
78$8,479,070$1,929,336$1,098,982$4,157,707
79$9,268,499$1,948,437$1,060,361$4,435,471
80$10,136,073$1,966,098$1,018,071$4,739,222
81$11,089,689$1,982,173$971,912$5,071,628
82$12,138,045$1,996,507$921,679$5,435,634
83$13,290,725$2,008,936$867,155$5,834,490
84$14,558,289$2,019,284$808,115$6,271,783
85$15,952,370$2,027,364$744,322$6,751,471
86$17,485,784$2,032,977$675,529$7,277,920
87$19,172,655$2,035,913$601,480$7,855,950
88$21,028,540$2,035,948$521,905$8,490,877
89$23,070,585$2,032,843$436,522$9,188,568
90$25,317,678$2,026,346$345,039$9,955,494
91$27,790,632$2,016,188$247,149$10,798,795
92$30,512,380$2,002,084$142,531$11,726,348
93$33,508,190$1,983,734$30,853$12,746,841
94$36,805,904$1,960,815$0$13,869,859
95$40,436,202$1,932,990$0$15,128,592
96$44,432,886$1,899,899$0$16,521,984
97$48,833,207$1,861,160$0$18,055,084
98$53,678,207$1,816,370$0$19,742,180
99$59,013,114$1,765,102$0$21,599,023
100$64,887,762$1,706,903$0$23,642,975