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%17.7%
1 years$109,830$108,852$107,897$106,966$106,056$102,743
2 years$54,371$53,359$52,377$51,426$50,503$47,195
3 years$35,888$34,871$33,892$32,949$32,041$28,842
4 years$26,647$25,634$24,664$23,738$22,852$19,786
5 years$21,105$20,097$19,141$18,233$17,372$14,446
6 years$17,411$16,411$15,468$14,581$13,746$10,964
7 years$14,773$13,782$12,854$11,988$11,179$8,541
8 years$12,796$11,813$10,902$10,056$9,274$6,778
9 years$11,259$10,286$9,389$8,566$7,810$5,453
10 years$10,030$9,066$8,186$7,384$6,655$4,433
11 years$9,026$8,071$7,207$6,426$5,723$3,633
12 years$8,189$7,244$6,396$5,637$4,960$2,997
13 years$7,481$6,547$5,714$4,976$4,325$2,485
14 years$6,876$5,951$5,134$4,417$3,791$2,068
15 years$6,351$5,436$4,636$3,939$3,338$1,728
16 years$5,892$4,988$4,203$3,527$2,950$1,447
17 years$5,488$4,593$3,824$3,169$2,616$1,215
18 years$5,129$4,244$3,491$2,856$2,326$1,022
19 years$4,809$3,934$3,196$2,581$2,073$861
20 years$4,520$3,655$2,933$2,337$1,852$726
21 years$4,260$3,405$2,698$2,121$1,657$614
22 years$4,023$3,178$2,487$1,929$1,485$519
23 years$3,808$2,973$2,296$1,757$1,333$439
24 years$3,610$2,785$2,123$1,602$1,198$371
25 years$3,429$2,614$1,967$1,463$1,078$315
26 years$3,262$2,457$1,824$1,338$971$267
27 years$3,107$2,312$1,694$1,225$876$226
28 years$2,964$2,178$1,574$1,122$790$192
29 years$2,831$2,055$1,465$1,029$714$163
30 years$2,707$1,941$1,365$944$645$138
31 years$2,592$1,835$1,272$867$583$117
32 years$2,483$1,736$1,187$797$527$99
33 years$2,382$1,644$1,108$733$477$84
34 years$2,287$1,558$1,036$674$432$72
35 years$2,197$1,478$968$621$391$61
36 years$2,112$1,403$906$572$355$52
37 years$2,033$1,332$848$527$321$44
38 years$1,957$1,266$794$486$291$37
39 years$1,886$1,204$744$448$264$32
40 years$1,818$1,146$697$413$240$27
41 years$1,754$1,090$654$381$217$23
42 years$1,693$1,038$613$352$197$19
43 years$1,635$989$575$325$179$16
44 years$1,580$943$540$300$163$14
45 years$1,528$899$507$277$148$12
46 years$1,478$858$476$256$134$10
47 years$1,430$819$448$236$122$9
48 years$1,384$782$421$218$110$7
49 years$1,340$746$395$202$100$6
50 years$1,299$713$372$186$91$5

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 $5,948 every year, while hoping to spend $58,935 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: 56/28/16 Blend
55$1,330,000$1,330,000$1,330,000$1,330,000
56$1,471,795$1,401,305$1,380,690$1,547,709
57$1,559,212$1,407,263$1,364,237$1,605,931
58$1,653,570$1,411,537$1,345,257$1,662,428
59$1,755,515$1,413,983$1,323,604$1,722,634
60$1,865,757$1,414,448$1,299,124$1,786,915
61$1,985,076$1,412,767$1,271,656$1,855,678
62$2,114,328$1,408,768$1,241,032$1,929,375
63$2,254,459$1,402,266$1,207,075$2,008,503
64$2,406,503$1,393,067$1,169,602$2,093,615
65$2,571,601$1,380,962$1,128,419$2,185,322
66$2,751,009$1,365,733$1,083,325$2,284,301
67$2,946,104$1,347,147$1,034,109$2,391,299
68$3,158,406$1,324,956$980,550$2,507,146
69$3,389,584$1,298,899$922,419$2,632,756
70$3,641,476$1,268,700$859,475$2,769,144
71$3,916,105$1,234,065$791,466$2,917,430
72$4,215,698$1,194,684$718,130$3,078,853
73$4,542,703$1,150,228$639,192$3,254,783
74$4,899,818$1,100,349$554,364$3,446,736
75$5,290,013$1,044,679$463,349$3,656,386
76$5,716,556$982,830$365,832$3,885,585
77$6,183,045$914,389$261,488$4,136,380
78$6,693,443$838,922$149,976$4,411,031
79$7,252,114$755,968$30,939$4,712,037
80$7,863,861$665,042$0$5,042,160
81$8,533,975$565,629$0$5,420,854
82$9,268,282$457,187$0$5,841,787
83$10,073,200$339,142$0$6,303,464
84$10,955,796$210,890$0$6,810,066
85$11,923,853$71,789$0$7,366,210
86$12,985,944$0$0$7,976,987
87$14,151,513$0$0$8,672,305
88$15,430,963$0$0$9,459,961
89$16,835,749$0$0$10,324,905
90$18,378,495$0$0$11,274,924
91$20,073,105$0$0$12,318,597
92$21,934,894$0$0$13,465,374
93$23,980,738$0$0$14,725,665
94$26,229,225$0$0$16,110,942
95$28,700,835$0$0$17,633,839
96$31,418,130$0$0$19,308,279
97$34,405,968$0$0$21,149,599
98$37,691,737$0$0$23,174,697
99$41,305,609$0$0$25,402,192
100$45,280,829$0$0$27,852,598