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%16.7%
1 years$105,701$104,760$103,841$102,944$102,069$99,279
2 years$52,327$51,353$50,408$49,493$48,604$45,814
3 years$34,538$33,560$32,618$31,710$30,837$28,133
4 years$25,646$24,670$23,737$22,846$21,993$19,397
5 years$20,311$19,341$18,421$17,548$16,719$14,238
6 years$16,756$15,794$14,887$14,033$13,229$10,865
7 years$14,218$13,264$12,371$11,537$10,759$8,512
8 years$12,315$11,369$10,492$9,678$8,925$6,795
9 years$10,836$9,899$9,036$8,244$7,516$5,500
10 years$9,653$8,726$7,878$7,106$6,404$4,499
11 years$8,686$7,768$6,936$6,185$5,508$3,711
12 years$7,881$6,972$6,155$5,425$4,773$3,081
13 years$7,200$6,301$5,499$4,789$4,162$2,572
14 years$6,617$5,727$4,941$4,251$3,649$2,156
15 years$6,112$5,232$4,461$3,791$3,212$1,814
16 years$5,671$4,800$4,045$3,395$2,839$1,530
17 years$5,282$4,421$3,681$3,050$2,517$1,294
18 years$4,936$4,085$3,360$2,749$2,238$1,097
19 years$4,628$3,786$3,076$2,484$1,995$931
20 years$4,350$3,518$2,823$2,250$1,782$791
21 years$4,100$3,277$2,596$2,042$1,595$674
22 years$3,872$3,059$2,393$1,856$1,429$574
23 years$3,664$2,861$2,210$1,691$1,283$489
24 years$3,475$2,680$2,043$1,542$1,153$418
25 years$3,300$2,515$1,893$1,408$1,038$356
26 years$3,139$2,364$1,755$1,288$935$305
27 years$2,991$2,225$1,630$1,179$843$260
28 years$2,853$2,097$1,515$1,080$761$223
29 years$2,725$1,978$1,410$990$687$190
30 years$2,606$1,868$1,313$909$621$163
31 years$2,494$1,766$1,225$835$561$139
32 years$2,390$1,671$1,142$767$507$119
33 years$2,292$1,582$1,067$705$459$102
34 years$2,201$1,500$997$649$416$87
35 years$2,114$1,422$932$597$377$75
36 years$2,033$1,350$872$550$341$64
37 years$1,956$1,282$816$507$309$55
38 years$1,884$1,219$764$467$280$47
39 years$1,815$1,159$716$431$254$40
40 years$1,750$1,102$671$397$231$34
41 years$1,688$1,049$629$367$209$30
42 years$1,630$999$590$338$190$25
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$7

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 $2,552 every year, while hoping to spend $23,389 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: 35/41/24 Blend
55$1,280,000$1,280,000$1,280,000$1,280,000
56$1,413,192$1,345,352$1,325,512$1,452,303
57$1,532,452$1,386,389$1,345,031$1,522,549
58$1,663,093$1,428,652$1,364,420$1,595,973
59$1,806,250$1,472,178$1,383,650$1,674,730
60$1,963,175$1,517,003$1,402,690$1,759,311
61$2,135,247$1,563,163$1,421,508$1,850,254
62$2,323,982$1,610,698$1,440,068$1,948,154
63$2,531,052$1,659,647$1,458,335$2,053,663
64$2,758,300$1,710,050$1,476,270$2,167,499
65$3,007,753$1,761,949$1,493,831$2,290,452
66$3,281,646$1,815,386$1,510,976$2,423,392
67$3,582,439$1,870,405$1,527,659$2,567,276
68$3,912,844$1,927,052$1,543,832$2,723,156
69$4,275,848$1,985,371$1,559,444$2,892,192
70$4,674,741$2,045,411$1,574,442$3,075,660
71$5,113,148$2,107,219$1,588,770$3,274,966
72$5,595,062$2,170,846$1,602,367$3,491,655
73$6,124,884$2,236,343$1,615,171$3,727,432
74$6,707,459$2,303,761$1,627,116$3,984,173
75$7,348,129$2,373,154$1,638,134$4,263,942
76$8,052,778$2,444,578$1,648,151$4,569,016
77$8,827,888$2,518,089$1,657,090$4,901,899
78$9,680,601$2,593,744$1,664,871$5,265,352
79$10,618,787$2,671,602$1,671,410$5,662,415
80$11,651,118$2,751,725$1,676,616$6,096,435
81$12,787,146$2,834,174$1,680,397$6,571,102
82$14,037,399$2,919,013$1,682,655$7,090,478
83$15,413,476$3,006,307$1,683,286$7,659,040
84$16,928,157$3,096,122$1,682,182$8,281,720
85$18,595,524$3,188,527$1,679,231$8,963,949
86$20,431,095$3,283,593$1,674,312$9,711,715
87$22,451,967$3,381,389$1,667,302$10,531,611
88$24,676,981$3,481,990$1,658,069$11,430,902
89$27,126,895$3,585,470$1,646,477$12,417,596
90$29,824,586$3,691,905$1,632,382$13,500,511
91$32,795,260$3,801,375$1,615,633$14,689,366
92$36,066,692$3,913,958$1,596,072$15,994,871
93$39,669,490$4,029,737$1,573,536$17,428,823
94$43,637,379$4,148,795$1,547,850$19,004,225
95$48,007,523$4,271,217$1,518,834$20,735,403
96$52,820,874$4,397,090$1,486,299$22,638,142
97$58,122,559$4,526,504$1,450,046$24,729,837
98$63,962,306$4,659,549$1,409,869$27,029,656
99$70,394,911$4,796,317$1,365,549$29,558,720
100$77,480,759$4,936,902$1,316,862$32,340,303