Can I retire at age 56 with 1,300,000?

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 $1,300,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.5%
1 years$107,353$106,397$105,464$104,553$103,664$102,581
2 years$53,145$52,155$51,196$50,266$49,364$48,274
3 years$35,078$34,084$33,127$32,206$31,318$30,254
4 years$26,046$25,055$24,108$23,202$22,337$21,307
5 years$20,629$19,644$18,709$17,822$16,980$15,988
6 years$17,018$16,041$15,120$14,252$13,436$12,482
7 years$14,440$13,471$12,564$11,718$10,927$10,012
8 years$12,508$11,547$10,656$9,830$9,065$8,189
9 years$11,005$10,054$9,178$8,373$7,634$6,797
10 years$9,804$8,862$8,001$7,217$6,504$5,706
11 years$8,822$7,889$7,044$6,281$5,594$4,833
12 years$8,004$7,081$6,252$5,509$4,848$4,123
13 years$7,313$6,399$5,585$4,864$4,227$3,539
14 years$6,720$5,817$5,018$4,318$3,706$3,052
15 years$6,208$5,314$4,531$3,851$3,263$2,643
16 years$5,759$4,875$4,108$3,448$2,884$2,297
17 years$5,364$4,490$3,738$3,098$2,557$2,002
18 years$5,014$4,149$3,412$2,792$2,273$1,749
19 years$4,700$3,845$3,124$2,523$2,026$1,531
20 years$4,418$3,573$2,867$2,285$1,810$1,343
21 years$4,164$3,328$2,637$2,074$1,620$1,180
22 years$3,932$3,107$2,430$1,885$1,452$1,039
23 years$3,722$2,906$2,244$1,717$1,303$915
24 years$3,529$2,722$2,075$1,566$1,171$807
25 years$3,352$2,555$1,922$1,430$1,054$712
26 years$3,188$2,401$1,783$1,308$949$629
27 years$3,037$2,260$1,655$1,197$856$556
28 years$2,897$2,129$1,539$1,097$772$492
29 years$2,767$2,009$1,432$1,006$697$436
30 years$2,646$1,897$1,334$923$630$386
31 years$2,533$1,793$1,244$848$570$342
32 years$2,427$1,697$1,160$779$515$303
33 years$2,328$1,607$1,083$716$466$269
34 years$2,235$1,523$1,012$659$422$238
35 years$2,147$1,445$946$607$382$211
36 years$2,065$1,371$885$559$347$187
37 years$1,987$1,302$829$515$314$166
38 years$1,913$1,238$776$475$285$148
39 years$1,843$1,177$727$438$258$131
40 years$1,777$1,120$681$404$234$116
41 years$1,715$1,066$639$372$212$103
42 years$1,655$1,015$599$344$193$92
43 years$1,598$967$562$317$175$82
44 years$1,545$922$528$293$159$72
45 years$1,493$879$496$271$144$64
46 years$1,444$839$466$250$131$57
47 years$1,398$800$437$231$119$51
48 years$1,353$764$411$213$108$45
49 years$1,310$730$386$197$98$40
50 years$1,269$697$363$182$89$36

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $1,300,000, adding $2,097 every year, while hoping to spend $54,360 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: 42/35/23 Blend
55$1,300,000$1,300,000$1,300,000$1,300,000
56$1,434,763$1,365,863$1,345,713$1,485,279
57$1,523,270$1,374,952$1,332,956$1,530,610
58$1,618,983$1,382,664$1,317,949$1,574,297
59$1,722,580$1,388,875$1,300,561$1,620,520
60$1,834,805$1,393,451$1,280,651$1,669,541
61$1,956,477$1,396,252$1,258,075$1,721,653
62$2,088,497$1,397,128$1,232,680$1,777,182
63$2,231,856$1,395,919$1,204,307$1,836,490
64$2,387,642$1,392,457$1,172,789$1,899,979
65$2,557,056$1,386,561$1,137,951$1,968,098
66$2,741,414$1,378,041$1,099,611$2,041,343
67$2,942,169$1,366,696$1,057,578$2,120,266
68$3,160,916$1,352,310$1,011,653$2,205,481
69$3,399,412$1,334,656$961,627$2,297,667
70$3,659,592$1,313,494$907,281$2,397,580
71$3,943,584$1,288,569$848,388$2,506,057
72$4,253,730$1,259,609$784,710$2,624,026
73$4,592,610$1,226,329$715,997$2,752,518
74$4,963,063$1,188,427$641,990$2,892,673
75$5,368,216$1,145,580$562,417$3,045,757
76$5,811,510$1,097,450$476,994$3,213,170
77$6,296,736$1,043,676$385,426$3,396,465
78$6,828,068$983,881$287,402$3,597,361
79$7,410,100$917,661$182,599$3,817,761
80$8,047,896$844,591$70,681$4,059,771
81$8,747,028$764,223$0$4,325,724
82$9,513,637$676,082$0$4,630,164
83$10,354,484$579,666$0$4,983,270
84$11,277,016$474,445$0$5,370,929
85$12,289,438$359,858$0$5,796,732
86$13,400,785$235,316$0$6,264,644
87$14,621,010$100,192$0$6,779,041
88$15,961,079$0$0$7,344,756
89$17,433,070$0$0$7,984,904
90$19,050,289$0$0$8,730,778
91$20,827,394$0$0$9,550,570
92$22,780,534$0$0$10,451,752
93$24,927,500$0$0$11,442,556
94$27,287,892$0$0$12,532,051
95$29,883,305$0$0$13,730,228
96$32,737,528$0$0$15,048,097
97$35,876,776$0$0$16,497,786
98$39,329,927$0$0$18,092,658
99$43,128,803$0$0$19,847,439
100$47,308,460$0$0$21,778,352