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%16.3%
1 years$107,353$106,397$105,464$104,553$103,664$100,994
2 years$53,145$52,155$51,196$50,266$49,364$46,692
3 years$35,078$34,084$33,127$32,206$31,318$28,728
4 years$26,046$25,055$24,108$23,202$22,337$19,847
5 years$20,629$19,644$18,709$17,822$16,980$14,599
6 years$17,018$16,041$15,120$14,252$13,436$11,165
7 years$14,440$13,471$12,564$11,718$10,927$8,767
8 years$12,508$11,547$10,656$9,830$9,065$7,014
9 years$11,005$10,054$9,178$8,373$7,634$5,691
10 years$9,804$8,862$8,001$7,217$6,504$4,668
11 years$8,822$7,889$7,044$6,281$5,594$3,860
12 years$8,004$7,081$6,252$5,509$4,848$3,213
13 years$7,313$6,399$5,585$4,864$4,227$2,689
14 years$6,720$5,817$5,018$4,318$3,706$2,261
15 years$6,208$5,314$4,531$3,851$3,263$1,907
16 years$5,759$4,875$4,108$3,448$2,884$1,614
17 years$5,364$4,490$3,738$3,098$2,557$1,369
18 years$5,014$4,149$3,412$2,792$2,273$1,163
19 years$4,700$3,845$3,124$2,523$2,026$990
20 years$4,418$3,573$2,867$2,285$1,810$845
21 years$4,164$3,328$2,637$2,074$1,620$721
22 years$3,932$3,107$2,430$1,885$1,452$616
23 years$3,722$2,906$2,244$1,717$1,303$527
24 years$3,529$2,722$2,075$1,566$1,171$451
25 years$3,352$2,555$1,922$1,430$1,054$386
26 years$3,188$2,401$1,783$1,308$949$331
27 years$3,037$2,260$1,655$1,197$856$284
28 years$2,897$2,129$1,539$1,097$772$244
29 years$2,767$2,009$1,432$1,006$697$209
30 years$2,646$1,897$1,334$923$630$179
31 years$2,533$1,793$1,244$848$570$154
32 years$2,427$1,697$1,160$779$515$132
33 years$2,328$1,607$1,083$716$466$114
34 years$2,235$1,523$1,012$659$422$98
35 years$2,147$1,445$946$607$382$84
36 years$2,065$1,371$885$559$347$72
37 years$1,987$1,302$829$515$314$62
38 years$1,913$1,238$776$475$285$53
39 years$1,843$1,177$727$438$258$46
40 years$1,777$1,120$681$404$234$39
41 years$1,715$1,066$639$372$212$34
42 years$1,655$1,015$599$344$193$29
43 years$1,598$967$562$317$175$25
44 years$1,545$922$528$293$159$21
45 years$1,493$879$496$271$144$18
46 years$1,444$839$466$250$131$16
47 years$1,398$800$437$231$119$14
48 years$1,353$764$411$213$108$12
49 years$1,310$730$386$197$98$10
50 years$1,269$697$363$182$89$9

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 $2,168 every year, while hoping to spend $45,773 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: 71/24/5 Blend
55$1,300,000$1,300,000$1,300,000$1,300,000
56$1,434,836$1,365,936$1,345,786$1,535,884
57$1,532,487$1,384,165$1,342,168$1,621,064
58$1,638,565$1,401,753$1,336,894$1,708,348
59$1,753,880$1,418,620$1,329,862$1,802,592
60$1,879,325$1,434,682$1,320,961$1,904,466
61$2,015,881$1,449,846$1,310,079$2,014,711
62$2,164,630$1,464,017$1,297,095$2,134,141
63$2,326,759$1,477,091$1,281,885$2,263,653
64$2,503,578$1,488,958$1,264,317$2,404,238
65$2,696,526$1,499,500$1,244,255$2,556,986
66$2,907,188$1,508,593$1,221,554$2,723,097
67$3,137,311$1,516,103$1,196,065$2,903,897
68$3,388,813$1,521,889$1,167,631$3,100,845
69$3,663,811$1,525,801$1,136,086$3,315,549
70$3,964,634$1,527,678$1,101,258$3,549,782
71$4,293,844$1,527,352$1,062,967$3,805,499
72$4,654,265$1,524,641$1,021,026$4,084,853
73$5,049,006$1,519,355$975,237$4,390,220
74$5,481,491$1,511,290$925,394$4,724,215
75$5,955,491$1,500,231$871,282$5,089,724
76$6,475,157$1,485,948$812,676$5,489,927
77$7,045,064$1,468,200$749,341$5,928,330
78$7,670,249$1,446,730$681,033$6,408,797
79$8,356,260$1,421,266$607,493$6,935,588
80$9,109,209$1,391,519$528,454$7,513,397
81$9,935,828$1,357,183$443,637$8,147,402
82$10,843,533$1,317,935$352,750$8,843,308
83$11,840,493$1,273,433$255,486$9,607,405
84$12,935,707$1,223,315$151,528$10,446,628
85$14,139,088$1,167,196$40,543$11,368,618
86$15,461,558$1,104,672$0$12,381,801
87$16,915,149$1,035,313$0$13,499,622
88$18,513,116$958,665$0$14,730,739
89$20,270,063$874,250$0$16,084,295
90$22,202,081$781,559$0$17,572,750
91$24,326,895$680,057$0$19,209,838
92$26,664,036$569,178$0$21,010,700
93$29,235,023$448,323$0$22,992,021
94$32,063,566$316,861$0$25,172,193
95$35,175,787$174,125$0$27,571,486
96$38,600,469$19,409$0$30,212,245
97$42,369,327$0$0$33,119,096
98$46,517,304$0$0$36,358,276
99$51,082,903$0$0$39,929,302
100$56,108,549$0$0$43,860,240