Can I retire at age 56 with 1,330,000?

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 $1,330,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.8%
1 years$109,830$108,852$107,897$106,966$106,056$103,534
2 years$54,371$53,359$52,377$51,426$50,503$47,977
3 years$35,888$34,871$33,892$32,949$32,041$29,590
4 years$26,647$25,634$24,664$23,738$22,852$20,495
5 years$21,105$20,097$19,141$18,233$17,372$15,115
6 years$17,411$16,411$15,468$14,581$13,746$11,591
7 years$14,773$13,782$12,854$11,988$11,179$9,127
8 years$12,796$11,813$10,902$10,056$9,274$7,324
9 years$11,259$10,286$9,389$8,566$7,810$5,961
10 years$10,030$9,066$8,186$7,384$6,655$4,904
11 years$9,026$8,071$7,207$6,426$5,723$4,068
12 years$8,189$7,244$6,396$5,637$4,960$3,398
13 years$7,481$6,547$5,714$4,976$4,325$2,853
14 years$6,876$5,951$5,134$4,417$3,791$2,407
15 years$6,351$5,436$4,636$3,939$3,338$2,037
16 years$5,892$4,988$4,203$3,527$2,950$1,730
17 years$5,488$4,593$3,824$3,169$2,616$1,473
18 years$5,129$4,244$3,491$2,856$2,326$1,256
19 years$4,809$3,934$3,196$2,581$2,073$1,074
20 years$4,520$3,655$2,933$2,337$1,852$919
21 years$4,260$3,405$2,698$2,121$1,657$788
22 years$4,023$3,178$2,487$1,929$1,485$676
23 years$3,808$2,973$2,296$1,757$1,333$580
24 years$3,610$2,785$2,123$1,602$1,198$499
25 years$3,429$2,614$1,967$1,463$1,078$429
26 years$3,262$2,457$1,824$1,338$971$369
27 years$3,107$2,312$1,694$1,225$876$318
28 years$2,964$2,178$1,574$1,122$790$274
29 years$2,831$2,055$1,465$1,029$714$236
30 years$2,707$1,941$1,365$944$645$203
31 years$2,592$1,835$1,272$867$583$175
32 years$2,483$1,736$1,187$797$527$151
33 years$2,382$1,644$1,108$733$477$130
34 years$2,287$1,558$1,036$674$432$112
35 years$2,197$1,478$968$621$391$97
36 years$2,112$1,403$906$572$355$84
37 years$2,033$1,332$848$527$321$72
38 years$1,957$1,266$794$486$291$62
39 years$1,886$1,204$744$448$264$54
40 years$1,818$1,146$697$413$240$46
41 years$1,754$1,090$654$381$217$40
42 years$1,693$1,038$613$352$197$35
43 years$1,635$989$575$325$179$30
44 years$1,580$943$540$300$163$26
45 years$1,528$899$507$277$148$22
46 years$1,478$858$476$256$134$19
47 years$1,430$819$448$236$122$17
48 years$1,384$782$421$218$110$14
49 years$1,340$746$395$202$100$12
50 years$1,299$713$372$186$91$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $1,330,000, adding $5,775 every year, while hoping to spend $52,859 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: 66/25/9 Blend
55$1,330,000$1,330,000$1,330,000$1,330,000
56$1,471,617$1,401,127$1,380,512$1,565,698
57$1,565,480$1,413,541$1,370,517$1,641,430
58$1,667,146$1,424,791$1,358,417$1,717,344
59$1,777,354$1,434,765$1,344,083$1,798,934
60$1,896,919$1,443,343$1,327,384$1,886,748
61$2,026,735$1,450,397$1,308,182$1,981,390
62$2,167,786$1,455,791$1,286,330$2,083,527
63$2,321,156$1,459,380$1,261,678$2,193,895
64$2,488,036$1,461,012$1,234,066$2,313,306
65$2,669,736$1,460,522$1,203,328$2,442,654
66$2,867,699$1,457,737$1,169,289$2,582,928
67$3,083,513$1,452,475$1,131,769$2,735,217
68$3,318,923$1,444,538$1,090,575$2,900,722
69$3,575,854$1,433,721$1,045,510$3,080,770
70$3,856,421$1,419,803$996,364$3,276,823
71$4,162,954$1,402,552$942,921$3,490,495
72$4,498,019$1,381,721$884,953$3,723,566
73$4,864,440$1,357,048$822,221$3,977,998
74$5,265,326$1,328,256$754,479$4,255,959
75$5,704,100$1,295,052$681,465$4,559,837
76$6,184,534$1,257,125$602,909$4,892,268
77$6,710,778$1,214,145$518,528$5,256,160
78$7,287,404$1,165,766$428,026$5,654,718
79$7,919,449$1,111,618$331,095$6,091,481
80$8,612,457$1,051,311$227,411$6,570,350
81$9,372,537$984,435$116,638$7,095,628
82$10,206,415$910,552$0$7,672,061
83$11,121,502$829,201$0$8,305,035
84$12,125,960$739,897$0$9,012,136
85$13,228,780$642,124$0$9,788,555
86$14,439,865$535,338$0$10,641,353
87$15,770,127$418,965$0$11,578,315
88$17,231,583$292,397$0$12,608,022
89$18,837,474$154,994$0$13,739,936
90$20,602,386$6,079$0$14,984,489
91$22,542,389$0$0$16,353,181
92$24,675,188$0$0$17,901,349
93$27,020,286$0$0$19,605,556
94$29,599,173$0$0$21,479,757
95$32,435,526$0$0$23,541,171
96$35,555,430$0$0$25,808,769
97$38,987,625$0$0$28,303,454
98$42,763,779$0$0$31,048,256
99$46,918,782$0$0$34,068,550
100$51,491,078$0$0$37,392,296