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%16.5%
1 years$105,701$104,760$103,841$102,944$102,069$99,360
2 years$52,327$51,353$50,408$49,493$48,604$45,894
3 years$34,538$33,560$32,618$31,710$30,837$28,209
4 years$25,646$24,670$23,737$22,846$21,993$19,469
5 years$20,311$19,341$18,421$17,548$16,719$14,306
6 years$16,756$15,794$14,887$14,033$13,229$10,929
7 years$14,218$13,264$12,371$11,537$10,759$8,572
8 years$12,315$11,369$10,492$9,678$8,925$6,850
9 years$10,836$9,899$9,036$8,244$7,516$5,552
10 years$9,653$8,726$7,878$7,106$6,404$4,547
11 years$8,686$7,768$6,936$6,185$5,508$3,756
12 years$7,881$6,972$6,155$5,425$4,773$3,122
13 years$7,200$6,301$5,499$4,789$4,162$2,610
14 years$6,617$5,727$4,941$4,251$3,649$2,191
15 years$6,112$5,232$4,461$3,791$3,212$1,846
16 years$5,671$4,800$4,045$3,395$2,839$1,559
17 years$5,282$4,421$3,681$3,050$2,517$1,321
18 years$4,936$4,085$3,360$2,749$2,238$1,121
19 years$4,628$3,786$3,076$2,484$1,995$953
20 years$4,350$3,518$2,823$2,250$1,782$811
21 years$4,100$3,277$2,596$2,042$1,595$692
22 years$3,872$3,059$2,393$1,856$1,429$590
23 years$3,664$2,861$2,210$1,691$1,283$504
24 years$3,475$2,680$2,043$1,542$1,153$431
25 years$3,300$2,515$1,893$1,408$1,038$368
26 years$3,139$2,364$1,755$1,288$935$315
27 years$2,991$2,225$1,630$1,179$843$270
28 years$2,853$2,097$1,515$1,080$761$231
29 years$2,725$1,978$1,410$990$687$198
30 years$2,606$1,868$1,313$909$621$170
31 years$2,494$1,766$1,225$835$561$145
32 years$2,390$1,671$1,142$767$507$125
33 years$2,292$1,582$1,067$705$459$107
34 years$2,201$1,500$997$649$416$92
35 years$2,114$1,422$932$597$377$79
36 years$2,033$1,350$872$550$341$67
37 years$1,956$1,282$816$507$309$58
38 years$1,884$1,219$764$467$280$50
39 years$1,815$1,159$716$431$254$43
40 years$1,750$1,102$671$397$231$37
41 years$1,688$1,049$629$367$209$31
42 years$1,630$999$590$338$190$27
43 years$1,574$952$554$312$172$23
44 years$1,521$908$520$288$156$20
45 years$1,470$866$488$266$142$17
46 years$1,422$826$458$246$129$15
47 years$1,376$788$431$227$117$13
48 years$1,332$752$405$210$106$11
49 years$1,290$718$380$194$97$9
50 years$1,250$686$358$179$88$8

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 $5,174 every year, while hoping to spend $51,379 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: 32/39/29 Blend
55$1,280,000$1,280,000$1,280,000$1,280,000
56$1,415,897$1,348,057$1,328,217$1,448,564
57$1,505,652$1,359,445$1,318,045$1,485,514
58$1,602,839$1,369,669$1,305,811$1,520,408
59$1,708,164$1,378,618$1,291,391$1,556,997
60$1,822,399$1,386,172$1,274,655$1,595,469
61$1,946,397$1,392,208$1,255,469$1,636,030
62$2,081,092$1,396,589$1,233,690$1,678,914
63$2,227,516$1,399,175$1,209,171$1,724,382
64$2,386,801$1,399,812$1,181,757$1,772,724
65$2,560,194$1,398,342$1,151,284$1,824,266
66$2,749,065$1,394,592$1,117,584$1,879,371
67$2,954,925$1,388,383$1,080,479$1,938,444
68$3,179,435$1,379,521$1,039,782$2,001,936
69$3,424,422$1,367,802$995,300$2,070,351
70$3,691,900$1,353,011$946,829$2,144,249
71$3,984,083$1,334,918$894,157$2,224,255
72$4,303,411$1,313,281$837,063$2,311,062
73$4,652,568$1,287,841$775,313$2,405,442
74$5,034,511$1,258,326$708,667$2,508,254
75$5,452,494$1,224,447$636,871$2,620,453
76$5,910,102$1,185,899$559,660$2,743,097
77$6,411,283$1,142,357$476,758$2,877,364
78$6,960,381$1,093,481$387,877$3,024,560
79$7,562,185$1,038,906$292,716$3,186,135
80$8,221,966$978,250$190,960$3,363,697
81$8,945,530$911,108$82,281$3,559,029
82$9,739,273$837,051$0$3,774,110
83$10,610,238$755,627$0$4,021,558
84$11,566,185$666,355$0$4,321,222
85$12,615,661$568,731$0$4,650,422
86$13,768,079$462,220$0$5,012,258
87$15,033,811$346,257$0$5,410,156
88$16,424,282$220,245$0$5,847,898
89$17,952,076$83,555$0$6,329,666
90$19,631,060$0$0$6,860,074
91$21,476,508$0$0$7,471,892
92$23,505,249$0$0$8,184,108
93$25,735,823$0$0$8,967,396
94$28,188,656$0$0$9,828,959
95$30,886,253$0$0$10,776,728
96$33,853,410$0$0$11,819,443
97$37,117,444$0$0$12,966,735
98$40,708,455$0$0$14,229,215
99$44,659,608$0$0$15,618,574
100$49,007,444$0$0$17,147,694