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%17.1%
1 years$106,527$105,578$104,652$103,749$102,866$99,894
2 years$52,736$51,754$50,802$49,879$48,984$46,013
3 years$34,808$33,822$32,872$31,958$31,077$28,201
4 years$25,846$24,863$23,923$23,024$22,165$19,405
5 years$20,470$19,493$18,565$17,685$16,849$14,213
6 years$16,887$15,917$15,003$14,143$13,332$10,823
7 years$14,329$13,367$12,468$11,627$10,843$8,460
8 years$12,411$11,458$10,574$9,754$8,995$6,737
9 years$10,921$9,976$9,107$8,308$7,575$5,440
10 years$9,729$8,794$7,940$7,162$6,454$4,439
11 years$8,754$7,829$6,990$6,233$5,551$3,652
12 years$7,943$7,026$6,203$5,467$4,810$3,024
13 years$7,256$6,350$5,542$4,827$4,195$2,518
14 years$6,669$5,772$4,980$4,284$3,677$2,105
15 years$6,160$5,273$4,496$3,821$3,238$1,766
16 years$5,715$4,838$4,076$3,421$2,861$1,485
17 years$5,323$4,455$3,709$3,074$2,537$1,253
18 years$4,975$4,117$3,386$2,770$2,256$1,058
19 years$4,664$3,815$3,100$2,503$2,011$896
20 years$4,384$3,545$2,845$2,267$1,796$759
21 years$4,132$3,302$2,617$2,058$1,607$644
22 years$3,902$3,083$2,412$1,871$1,441$547
23 years$3,693$2,883$2,227$1,704$1,293$465
24 years$3,502$2,701$2,059$1,554$1,162$395
25 years$3,326$2,535$1,907$1,419$1,046$337
26 years$3,164$2,383$1,769$1,298$942$287
27 years$3,014$2,242$1,643$1,188$849$244
28 years$2,875$2,113$1,527$1,088$766$208
29 years$2,746$1,993$1,421$998$692$177
30 years$2,626$1,882$1,324$916$625$151
31 years$2,514$1,780$1,234$841$565$129
32 years$2,409$1,684$1,151$773$511$110
33 years$2,310$1,595$1,075$711$463$94
34 years$2,218$1,511$1,004$654$419$80
35 years$2,131$1,433$939$602$380$68
36 years$2,049$1,361$879$555$344$58
37 years$1,971$1,292$822$511$312$50
38 years$1,898$1,228$770$471$283$43
39 years$1,829$1,168$721$434$256$36
40 years$1,764$1,111$676$400$232$31
41 years$1,701$1,058$634$370$211$26
42 years$1,642$1,007$595$341$191$23
43 years$1,586$960$558$315$174$19
44 years$1,533$915$524$291$158$16
45 years$1,482$872$492$268$143$14
46 years$1,433$832$462$248$130$12
47 years$1,387$794$434$229$118$10
48 years$1,342$758$408$212$107$9
49 years$1,300$724$383$196$97$7
50 years$1,259$692$360$181$88$6

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 $5,738 every year, while hoping to spend $53,602 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: 57/22/21 Blend
55$1,290,000$1,290,000$1,290,000$1,290,000
56$1,427,499$1,359,129$1,339,134$1,500,518
57$1,516,072$1,368,694$1,326,963$1,560,502
58$1,611,882$1,376,931$1,312,587$1,619,602
59$1,715,612$1,383,719$1,295,877$1,682,839
60$1,828,012$1,388,928$1,276,696$1,750,626
61$1,949,904$1,392,421$1,254,900$1,823,417
62$2,082,196$1,394,051$1,230,341$1,901,715
63$2,225,883$1,393,663$1,202,861$1,986,076
64$2,382,063$1,391,092$1,172,296$2,077,116
65$2,551,940$1,386,163$1,138,475$2,175,515
66$2,736,843$1,378,690$1,101,219$2,282,024
67$2,938,231$1,368,475$1,060,340$2,397,475
68$3,157,711$1,355,311$1,015,642$2,522,786
69$3,397,051$1,338,975$966,919$2,658,973
70$3,658,197$1,319,231$913,958$2,807,156
71$3,943,292$1,295,832$856,534$2,968,576
72$4,254,692$1,268,513$794,413$3,144,603
73$4,594,995$1,236,994$727,350$3,336,749
74$4,967,058$1,200,980$655,089$3,546,687
75$5,374,028$1,160,158$577,365$3,776,262
76$5,819,369$1,114,196$493,896$4,027,514
77$6,306,896$1,062,743$404,393$4,302,696
78$6,840,810$1,005,428$308,552$4,604,295
79$7,425,738$941,860$206,054$4,935,057
80$8,066,775$871,622$96,567$5,298,016
81$8,769,530$794,276$0$5,696,519
82$9,540,186$709,359$0$6,138,807
83$10,385,547$616,380$0$6,647,804
84$11,313,111$514,821$0$7,206,439
85$12,331,136$404,135$0$7,819,772
86$13,448,719$283,744$0$8,493,382
87$14,675,879$153,038$0$9,233,423
88$16,023,654$11,372$0$10,046,678
89$17,504,203$0$0$10,940,628
90$19,130,922$0$0$11,957,879
91$20,918,567$0$0$13,078,911
92$22,883,394$0$0$14,311,181
93$25,043,315$0$0$15,665,935
94$27,418,061$0$0$17,155,568
95$30,029,371$0$0$18,793,732
96$32,901,197$0$0$20,595,469
97$36,059,927$0$0$22,577,355
98$39,534,637$0$0$24,757,649
99$43,357,359$0$0$27,156,471
100$47,563,390$0$0$29,795,990