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%16.6%
1 years$105,701$104,760$103,841$102,944$102,069$99,320
2 years$52,327$51,353$50,408$49,493$48,604$45,854
3 years$34,538$33,560$32,618$31,710$30,837$28,171
4 years$25,646$24,670$23,737$22,846$21,993$19,433
5 years$20,311$19,341$18,421$17,548$16,719$14,272
6 years$16,756$15,794$14,887$14,033$13,229$10,897
7 years$14,218$13,264$12,371$11,537$10,759$8,542
8 years$12,315$11,369$10,492$9,678$8,925$6,823
9 years$10,836$9,899$9,036$8,244$7,516$5,526
10 years$9,653$8,726$7,878$7,106$6,404$4,523
11 years$8,686$7,768$6,936$6,185$5,508$3,733
12 years$7,881$6,972$6,155$5,425$4,773$3,102
13 years$7,200$6,301$5,499$4,789$4,162$2,591
14 years$6,617$5,727$4,941$4,251$3,649$2,173
15 years$6,112$5,232$4,461$3,791$3,212$1,830
16 years$5,671$4,800$4,045$3,395$2,839$1,545
17 years$5,282$4,421$3,681$3,050$2,517$1,307
18 years$4,936$4,085$3,360$2,749$2,238$1,109
19 years$4,628$3,786$3,076$2,484$1,995$942
20 years$4,350$3,518$2,823$2,250$1,782$801
21 years$4,100$3,277$2,596$2,042$1,595$682
22 years$3,872$3,059$2,393$1,856$1,429$582
23 years$3,664$2,861$2,210$1,691$1,283$497
24 years$3,475$2,680$2,043$1,542$1,153$424
25 years$3,300$2,515$1,893$1,408$1,038$362
26 years$3,139$2,364$1,755$1,288$935$310
27 years$2,991$2,225$1,630$1,179$843$265
28 years$2,853$2,097$1,515$1,080$761$227
29 years$2,725$1,978$1,410$990$687$194
30 years$2,606$1,868$1,313$909$621$166
31 years$2,494$1,766$1,225$835$561$142
32 years$2,390$1,671$1,142$767$507$122
33 years$2,292$1,582$1,067$705$459$104
34 years$2,201$1,500$997$649$416$89
35 years$2,114$1,422$932$597$377$77
36 years$2,033$1,350$872$550$341$66
37 years$1,956$1,282$816$507$309$56
38 years$1,884$1,219$764$467$280$48
39 years$1,815$1,159$716$431$254$41
40 years$1,750$1,102$671$397$231$35
41 years$1,688$1,049$629$367$209$30
42 years$1,630$999$590$338$190$26
43 years$1,574$952$554$312$172$22
44 years$1,521$908$520$288$156$19
45 years$1,470$866$488$266$142$16
46 years$1,422$826$458$246$129$14
47 years$1,376$788$431$227$117$12
48 years$1,332$752$405$210$106$10
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 $6,182 every year, while hoping to spend $56,899 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: 53/37/10 Blend
55$1,280,000$1,280,000$1,280,000$1,280,000
56$1,416,937$1,349,097$1,329,257$1,488,098
57$1,500,924$1,354,662$1,313,247$1,542,712
58$1,591,571$1,358,594$1,294,793$1,595,418
59$1,689,497$1,360,751$1,273,755$1,651,424
60$1,795,383$1,360,984$1,249,982$1,711,055
61$1,909,976$1,359,136$1,223,321$1,774,669
62$2,034,098$1,355,039$1,193,607$1,842,666
63$2,168,654$1,348,514$1,160,671$1,915,487
64$2,314,638$1,339,372$1,124,334$1,993,620
65$2,473,143$1,327,413$1,084,411$2,077,607
66$2,645,371$1,312,423$1,040,706$2,168,049
67$2,832,645$1,294,179$993,016$2,265,609
68$3,036,421$1,272,439$941,128$2,371,022
69$3,258,300$1,246,953$884,820$2,485,103
70$3,500,043$1,217,450$823,858$2,608,754
71$3,763,590$1,183,648$758,000$2,742,971
72$4,051,075$1,145,246$686,992$2,888,858
73$4,364,847$1,101,925$610,569$3,047,637
74$4,707,492$1,053,350$528,453$3,220,658
75$5,081,855$999,163$440,355$3,409,417
76$5,491,071$938,988$345,974$3,615,565
77$5,938,589$872,428$244,992$3,840,931
78$6,428,208$799,059$137,082$4,087,537
79$6,964,110$718,438$21,900$4,357,616
80$7,550,901$630,094$0$4,653,641
81$8,193,653$533,529$0$4,989,120
82$8,897,952$428,217$0$5,359,486
83$9,669,948$313,605$0$5,765,779
84$10,516,417$189,106$0$6,211,726
85$11,444,819$54,100$0$6,701,447
86$12,463,375$0$0$7,239,487
87$13,581,135$0$0$7,868,349
88$14,808,071$0$0$8,582,942
89$16,155,167$0$0$9,367,653
90$17,634,522$0$0$10,229,545
91$19,259,464$0$0$11,176,401
92$21,044,677$0$0$12,216,796
93$23,006,335$0$0$13,360,173
94$25,162,257$0$0$14,616,938
95$27,532,076$0$0$15,998,556
96$30,137,419$0$0$17,517,655
97$33,002,115$0$0$19,188,150
98$36,152,416$0$0$21,025,373
99$39,617,247$0$0$23,046,213
100$43,428,475$0$0$25,269,280