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%19.4%
1 years$109,830$108,852$107,897$106,966$106,056$102,050
2 years$54,371$53,359$52,377$51,426$50,503$46,513
3 years$35,888$34,871$33,892$32,949$32,041$28,193
4 years$26,647$25,634$24,664$23,738$22,852$19,176
5 years$21,105$20,097$19,141$18,233$17,372$13,876
6 years$17,411$16,411$15,468$14,581$13,746$10,433
7 years$14,773$13,782$12,854$11,988$11,179$8,049
8 years$12,796$11,813$10,902$10,056$9,274$6,324
9 years$11,259$10,286$9,389$8,566$7,810$5,035
10 years$10,030$9,066$8,186$7,384$6,655$4,049
11 years$9,026$8,071$7,207$6,426$5,723$3,282
12 years$8,189$7,244$6,396$5,637$4,960$2,677
13 years$7,481$6,547$5,714$4,976$4,325$2,194
14 years$6,876$5,951$5,134$4,417$3,791$1,805
15 years$6,351$5,436$4,636$3,939$3,338$1,490
16 years$5,892$4,988$4,203$3,527$2,950$1,232
17 years$5,488$4,593$3,824$3,169$2,616$1,022
18 years$5,129$4,244$3,491$2,856$2,326$849
19 years$4,809$3,934$3,196$2,581$2,073$706
20 years$4,520$3,655$2,933$2,337$1,852$588
21 years$4,260$3,405$2,698$2,121$1,657$490
22 years$4,023$3,178$2,487$1,929$1,485$409
23 years$3,808$2,973$2,296$1,757$1,333$341
24 years$3,610$2,785$2,123$1,602$1,198$285
25 years$3,429$2,614$1,967$1,463$1,078$238
26 years$3,262$2,457$1,824$1,338$971$199
27 years$3,107$2,312$1,694$1,225$876$166
28 years$2,964$2,178$1,574$1,122$790$139
29 years$2,831$2,055$1,465$1,029$714$116
30 years$2,707$1,941$1,365$944$645$97
31 years$2,592$1,835$1,272$867$583$82
32 years$2,483$1,736$1,187$797$527$68
33 years$2,382$1,644$1,108$733$477$57
34 years$2,287$1,558$1,036$674$432$48
35 years$2,197$1,478$968$621$391$40
36 years$2,112$1,403$906$572$355$34
37 years$2,033$1,332$848$527$321$28
38 years$1,957$1,266$794$486$291$23
39 years$1,886$1,204$744$448$264$20
40 years$1,818$1,146$697$413$240$16
41 years$1,754$1,090$654$381$217$14
42 years$1,693$1,038$613$352$197$12
43 years$1,635$989$575$325$179$10
44 years$1,580$943$540$300$163$8
45 years$1,528$899$507$277$148$7
46 years$1,478$858$476$256$134$6
47 years$1,430$819$448$236$122$5
48 years$1,384$782$421$218$110$4
49 years$1,340$746$395$202$100$3
50 years$1,299$713$372$186$91$3

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 $4,368 every year, while hoping to spend $49,241 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: 37/38/25 Blend
55$1,330,000$1,330,000$1,330,000$1,330,000
56$1,470,166$1,399,676$1,379,061$1,513,407
57$1,567,730$1,415,868$1,372,867$1,561,726
58$1,673,597$1,431,203$1,364,816$1,609,031
59$1,788,559$1,445,587$1,354,792$1,659,160
60$1,913,491$1,458,920$1,342,677$1,712,398
61$2,049,355$1,471,095$1,328,345$1,769,063
62$2,197,209$1,481,999$1,311,664$1,829,506
63$2,358,217$1,491,509$1,292,497$1,894,119
64$2,533,660$1,499,498$1,270,701$1,963,335
65$2,724,947$1,505,827$1,246,123$2,037,637
66$2,933,631$1,510,352$1,218,608$2,117,556
67$3,161,418$1,512,916$1,187,988$2,203,687
68$3,410,190$1,513,356$1,154,093$2,296,684
69$3,682,015$1,511,496$1,116,740$2,397,276
70$3,979,172$1,507,151$1,075,742$2,506,268
71$4,304,168$1,500,122$1,030,901$2,624,555
72$4,659,767$1,490,202$982,010$2,753,125
73$5,049,009$1,477,167$928,853$2,893,074
74$5,475,243$1,460,783$871,204$3,045,616
75$5,942,156$1,440,800$808,828$3,212,095
76$6,453,811$1,416,954$741,479$3,393,997
77$7,014,679$1,388,965$668,898$3,592,967
78$7,629,687$1,356,535$590,817$3,810,828
79$8,304,261$1,319,350$506,954$4,049,593
80$9,044,375$1,277,079$417,018$4,311,491
81$9,856,614$1,229,368$320,700$4,598,987
82$10,748,227$1,175,845$217,682$4,914,805
83$11,727,201$1,116,117$107,629$5,261,960
84$12,802,334$1,049,765$0$5,643,783
85$13,983,318$976,349$0$6,066,573
86$15,280,829$895,402$0$6,562,592
87$16,706,629$806,433$0$7,107,697
88$18,273,677$708,920$0$7,706,964
89$19,996,246$602,312$0$8,365,993
90$21,890,066$486,027$0$9,090,964
91$23,972,463$359,453$0$9,888,695
92$26,262,527$221,938$0$10,766,713
93$28,781,290$72,800$0$11,733,318
94$31,551,928$0$0$12,797,669
95$34,599,971$0$0$14,006,958
96$37,953,551$0$0$15,371,170
97$41,643,665$0$0$16,872,501
98$45,704,464$0$0$18,524,872
99$50,173,579$0$0$20,343,623
100$55,092,472$0$0$22,345,656