Can I retire at age 56 with 1,290,000?

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 $1,290,000?

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$106,527$105,578$104,652$103,749$102,866$100,055
2 years$52,736$51,754$50,802$49,879$48,984$46,172
3 years$34,808$33,822$32,872$31,958$31,077$28,353
4 years$25,846$24,863$23,923$23,024$22,165$19,549
5 years$20,470$19,493$18,565$17,685$16,849$14,349
6 years$16,887$15,917$15,003$14,143$13,332$10,950
7 years$14,329$13,367$12,468$11,627$10,843$8,579
8 years$12,411$11,458$10,574$9,754$8,995$6,848
9 years$10,921$9,976$9,107$8,308$7,575$5,543
10 years$9,729$8,794$7,940$7,162$6,454$4,534
11 years$8,754$7,829$6,990$6,233$5,551$3,740
12 years$7,943$7,026$6,203$5,467$4,810$3,106
13 years$7,256$6,350$5,542$4,827$4,195$2,592
14 years$6,669$5,772$4,980$4,284$3,677$2,173
15 years$6,160$5,273$4,496$3,821$3,238$1,828
16 years$5,715$4,838$4,076$3,421$2,861$1,542
17 years$5,323$4,455$3,709$3,074$2,537$1,304
18 years$4,975$4,117$3,386$2,770$2,256$1,105
19 years$4,664$3,815$3,100$2,503$2,011$938
20 years$4,384$3,545$2,845$2,267$1,796$798
21 years$4,132$3,302$2,617$2,058$1,607$679
22 years$3,902$3,083$2,412$1,871$1,441$578
23 years$3,693$2,883$2,227$1,704$1,293$493
24 years$3,502$2,701$2,059$1,554$1,162$421
25 years$3,326$2,535$1,907$1,419$1,046$359
26 years$3,164$2,383$1,769$1,298$942$307
27 years$3,014$2,242$1,643$1,188$849$262
28 years$2,875$2,113$1,527$1,088$766$224
29 years$2,746$1,993$1,421$998$692$192
30 years$2,626$1,882$1,324$916$625$164
31 years$2,514$1,780$1,234$841$565$140
32 years$2,409$1,684$1,151$773$511$120
33 years$2,310$1,595$1,075$711$463$103
34 years$2,218$1,511$1,004$654$419$88
35 years$2,131$1,433$939$602$380$75
36 years$2,049$1,361$879$555$344$65
37 years$1,971$1,292$822$511$312$55
38 years$1,898$1,228$770$471$283$47
39 years$1,829$1,168$721$434$256$41
40 years$1,764$1,111$676$400$232$35
41 years$1,701$1,058$634$370$211$30
42 years$1,642$1,007$595$341$191$26
43 years$1,586$960$558$315$174$22
44 years$1,533$915$524$291$158$19
45 years$1,482$872$492$268$143$16
46 years$1,433$832$462$248$130$14
47 years$1,387$794$434$229$118$12
48 years$1,342$758$408$212$107$10
49 years$1,300$724$383$196$97$9
50 years$1,259$692$360$181$88$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $1,290,000, adding $3,760 every year, while hoping to spend $33,064 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: 50/40/10 Blend
55$1,290,000$1,290,000$1,290,000$1,290,000
56$1,425,458$1,357,088$1,337,093$1,492,764
57$1,535,675$1,388,406$1,346,706$1,570,516
58$1,656,026$1,420,150$1,355,533$1,651,143
59$1,787,510$1,452,306$1,363,512$1,737,993
60$1,931,226$1,484,859$1,370,580$1,831,657
61$2,088,384$1,517,791$1,376,668$1,932,788
62$2,260,319$1,551,081$1,381,705$2,042,107
63$2,448,496$1,584,710$1,385,617$2,160,403
64$2,654,533$1,618,651$1,388,326$2,288,549
65$2,880,209$1,652,878$1,389,748$2,427,507
66$3,127,483$1,687,362$1,389,798$2,578,335
67$3,398,515$1,722,071$1,388,384$2,742,200
68$3,695,680$1,756,969$1,385,412$2,920,386
69$4,021,598$1,792,019$1,380,782$3,114,310
70$4,379,152$1,827,179$1,374,388$3,325,533
71$4,771,517$1,862,403$1,366,123$3,555,775
72$5,202,193$1,897,642$1,355,869$3,806,931
73$5,675,034$1,932,843$1,343,507$4,081,089
74$6,194,284$1,967,949$1,328,912$4,380,552
75$6,764,620$2,002,897$1,311,949$4,707,858
76$7,391,194$2,037,622$1,292,482$5,065,802
77$8,079,680$2,072,050$1,270,365$5,457,466
78$8,836,332$2,106,105$1,245,447$5,886,247
79$9,668,036$2,139,703$1,217,568$6,355,890
80$10,582,382$2,172,755$1,186,563$6,870,521
81$11,587,730$2,205,164$1,152,257$7,434,688
82$12,693,291$2,236,830$1,114,470$8,053,406
83$13,909,212$2,267,640$1,073,011$8,732,200
84$15,246,676$2,297,478$1,027,680$9,477,161
85$16,718,000$2,326,218$978,271$10,295,003
86$18,336,759$2,353,726$924,566$11,193,127
87$20,117,907$2,379,857$866,338$12,179,687
88$22,077,923$2,404,459$803,349$13,263,677
89$24,234,962$2,427,368$735,352$14,455,005
90$26,609,029$2,448,410$662,087$15,764,594
91$29,222,167$2,467,399$583,284$17,204,485
92$32,098,664$2,484,138$498,660$18,787,948
93$35,265,283$2,498,416$407,920$20,529,610
94$38,751,512$2,510,009$310,756$22,445,595
95$42,589,845$2,518,679$206,846$24,553,674
96$46,816,088$2,524,172$95,854$26,873,434
97$51,469,693$2,526,220$0$29,426,465
98$56,594,133$2,524,537$0$32,238,975
99$62,237,315$2,518,819$0$35,345,852
100$68,452,024$2,508,745$0$38,765,810