Can I retire at age 56 with 1,310,000?

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 $1,310,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.3%
1 years$108,179$107,215$106,275$105,357$104,461$100,555
2 years$53,554$52,556$51,590$50,653$49,743$45,853
3 years$35,348$34,346$33,382$32,454$31,559$27,806
4 years$26,247$25,248$24,294$23,381$22,508$18,922
5 years$20,787$19,795$18,853$17,959$17,110$13,700
6 years$17,149$16,164$15,236$14,362$13,539$10,307
7 years$14,551$13,574$12,661$11,808$11,011$7,956
8 years$12,604$11,636$10,738$9,905$9,135$6,254
9 years$11,090$10,131$9,248$8,437$7,693$4,982
10 years$9,880$8,930$8,063$7,273$6,554$4,010
11 years$8,890$7,950$7,098$6,329$5,637$3,252
12 years$8,066$7,135$6,300$5,552$4,885$2,654
13 years$7,369$6,448$5,628$4,901$4,260$2,177
14 years$6,772$5,861$5,057$4,351$3,734$1,792
15 years$6,255$5,354$4,566$3,880$3,288$1,480
16 years$5,804$4,913$4,140$3,474$2,906$1,225
17 years$5,406$4,524$3,767$3,122$2,576$1,017
18 years$5,052$4,181$3,439$2,813$2,291$845
19 years$4,736$3,875$3,148$2,542$2,042$703
20 years$4,452$3,600$2,889$2,302$1,824$586
21 years$4,196$3,354$2,657$2,089$1,632$489
22 years$3,963$3,131$2,449$1,900$1,463$408
23 years$3,750$2,928$2,261$1,730$1,313$341
24 years$3,556$2,743$2,091$1,578$1,180$285
25 years$3,377$2,574$1,937$1,441$1,062$238
26 years$3,213$2,420$1,797$1,318$957$199
27 years$3,061$2,277$1,668$1,206$863$167
28 years$2,920$2,146$1,551$1,105$778$140
29 years$2,789$2,024$1,443$1,013$703$117
30 years$2,667$1,912$1,344$930$635$98
31 years$2,553$1,807$1,253$854$574$82
32 years$2,446$1,710$1,169$785$519$69
33 years$2,346$1,619$1,092$722$470$58
34 years$2,252$1,535$1,020$664$426$48
35 years$2,164$1,456$954$611$385$40
36 years$2,081$1,382$892$563$349$34
37 years$2,002$1,312$835$519$317$28
38 years$1,928$1,247$782$478$287$24
39 years$1,858$1,186$733$441$260$20
40 years$1,791$1,128$687$407$236$17
41 years$1,728$1,074$644$375$214$14
42 years$1,668$1,023$604$346$194$12
43 years$1,611$975$567$320$176$10
44 years$1,556$929$532$295$160$8
45 years$1,505$886$500$273$145$7
46 years$1,455$845$469$252$132$6
47 years$1,408$806$441$233$120$5
48 years$1,363$770$414$215$109$4
49 years$1,320$735$389$199$99$3
50 years$1,279$702$366$184$90$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $1,310,000, adding $6,468 every year, while hoping to spend $39,419 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: 77/8/15 Blend
55$1,310,000$1,310,000$1,310,000$1,310,000
56$1,450,292$1,380,862$1,360,557$1,556,849
57$1,556,280$1,406,582$1,364,194$1,653,760
58$1,671,758$1,432,242$1,366,632$1,754,394
59$1,797,652$1,457,797$1,367,788$1,863,663
60$1,934,981$1,483,198$1,367,578$1,982,415
61$2,084,868$1,508,393$1,365,911$2,111,582
62$2,248,548$1,533,328$1,362,692$2,252,196
63$2,427,380$1,557,941$1,357,823$2,405,388
64$2,622,862$1,582,169$1,351,199$2,572,407
65$2,836,641$1,605,943$1,342,712$2,754,631
66$3,070,533$1,629,189$1,332,247$2,953,574
67$3,326,536$1,651,827$1,319,685$3,170,907
68$3,606,848$1,673,773$1,304,901$3,408,472
69$3,913,895$1,694,936$1,287,763$3,668,295
70$4,250,343$1,715,219$1,268,134$3,952,611
71$4,619,132$1,734,518$1,245,871$4,263,885
72$5,023,498$1,752,724$1,220,822$4,604,829
73$5,467,006$1,769,718$1,192,830$4,978,433
74$5,953,581$1,785,375$1,161,731$5,387,994
75$6,487,549$1,799,561$1,127,351$5,837,144
76$7,073,672$1,812,133$1,089,510$6,329,884
77$7,717,199$1,822,939$1,048,021$6,870,625
78$8,423,908$1,831,819$1,002,685$7,464,228
79$9,200,168$1,838,599$953,296$8,116,050
80$10,052,992$1,843,098$899,639$8,831,994
81$10,990,109$1,845,121$841,488$9,618,565
82$12,020,030$1,844,462$778,608$10,482,934
83$13,152,135$1,840,902$710,753$11,433,003
84$14,396,755$1,834,208$637,665$12,477,480
85$15,765,274$1,824,134$559,077$13,625,962
86$17,270,233$1,810,419$474,708$14,889,025
87$18,925,451$1,792,783$384,264$16,278,327
88$20,746,151$1,770,934$287,441$17,806,713
89$22,749,107$1,744,558$183,919$19,488,342
90$24,952,801$1,713,326$73,365$21,338,816
91$27,377,594$1,676,887$0$23,375,331
92$30,045,924$1,634,870$0$25,623,979
93$32,982,512$1,586,882$0$28,111,500
94$36,214,597$1,532,508$0$30,849,218
95$39,772,193$1,471,307$0$33,862,563
96$43,688,370$1,402,815$0$37,179,558
97$47,999,568$1,326,538$0$40,831,082
98$52,745,941$1,241,955$0$44,851,163
99$57,971,732$1,148,516$0$49,277,296
100$63,725,694$1,045,638$0$54,150,801