Can I retire at age 56 with 1,350,000?

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 $1,350,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.5%
1 years$111,482$110,489$109,520$108,574$107,651$106,972
2 years$55,189$54,161$53,165$52,199$51,262$50,578
3 years$36,427$35,395$34,401$33,445$32,523$31,854
4 years$27,048$26,019$25,035$24,095$23,196$22,547
5 years$21,422$20,399$19,428$18,507$17,633$17,007
6 years$17,673$16,657$15,701$14,800$13,952$13,349
7 years$14,996$13,989$13,048$12,168$11,347$10,767
8 years$12,989$11,991$11,065$10,208$9,413$8,857
9 years$11,429$10,440$9,531$8,695$7,927$7,395
10 years$10,181$9,203$8,309$7,495$6,755$6,245
11 years$9,161$8,193$7,315$6,523$5,809$5,322
12 years$8,312$7,353$6,492$5,721$5,034$4,569
13 years$7,594$6,645$5,800$5,051$4,390$3,947
14 years$6,979$6,040$5,211$4,484$3,848$3,426
15 years$6,446$5,518$4,705$3,999$3,388$2,987
16 years$5,981$5,063$4,266$3,580$2,994$2,614
17 years$5,571$4,662$3,882$3,217$2,655$2,294
18 years$5,206$4,308$3,544$2,899$2,361$2,018
19 years$4,881$3,993$3,244$2,620$2,104$1,780
20 years$4,588$3,710$2,977$2,373$1,880$1,573
21 years$4,324$3,456$2,738$2,153$1,682$1,392
22 years$4,084$3,226$2,524$1,958$1,508$1,234
23 years$3,865$3,017$2,330$1,783$1,353$1,096
24 years$3,665$2,827$2,155$1,626$1,216$974
25 years$3,481$2,653$1,996$1,485$1,095$866
26 years$3,311$2,493$1,851$1,358$986$771
27 years$3,154$2,347$1,719$1,243$889$687
28 years$3,009$2,211$1,598$1,139$802$613
29 years$2,874$2,086$1,487$1,044$724$547
30 years$2,748$1,970$1,385$958$654$488
31 years$2,631$1,862$1,291$880$592$436
32 years$2,521$1,762$1,205$809$535$390
33 years$2,418$1,669$1,125$744$484$348
34 years$2,321$1,582$1,051$684$439$312
35 years$2,230$1,500$983$630$397$279
36 years$2,144$1,424$919$580$360$249
37 years$2,063$1,352$861$535$326$223
38 years$1,987$1,285$806$493$296$200
39 years$1,914$1,222$755$454$268$179
40 years$1,846$1,163$708$419$243$160
41 years$1,781$1,107$664$387$221$143
42 years$1,719$1,054$622$357$200$129
43 years$1,660$1,004$584$329$182$115
44 years$1,604$957$548$304$165$103
45 years$1,551$913$515$281$150$92
46 years$1,500$871$484$259$136$83
47 years$1,451$831$454$240$123$74
48 years$1,405$793$427$222$112$67
49 years$1,361$758$401$205$102$60
50 years$1,318$724$377$189$92$53

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $1,350,000, adding $2,929 every year, while hoping to spend $24,630 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: 62/15/23 Blend
55$1,350,000$1,350,000$1,350,000$1,350,000
56$1,490,721$1,419,171$1,398,246$1,573,961
57$1,616,569$1,462,505$1,418,881$1,673,956
58$1,754,427$1,507,136$1,439,382$1,780,107
59$1,905,496$1,553,102$1,459,718$1,895,457
60$2,071,095$1,600,443$1,479,858$2,020,906
61$2,252,679$1,649,197$1,499,765$2,157,446
62$2,451,850$1,699,406$1,519,406$2,306,170
63$2,670,373$1,751,111$1,538,740$2,468,280
64$2,910,191$1,804,355$1,557,727$2,645,103
65$3,173,444$1,859,182$1,576,325$2,838,097
66$3,462,492$1,915,638$1,594,488$3,048,869
67$3,779,931$1,973,770$1,612,169$3,279,191
68$4,128,623$2,033,624$1,629,316$3,531,014
69$4,511,721$2,095,249$1,645,876$3,806,485
70$4,932,697$2,158,697$1,661,793$4,107,974
71$5,395,377$2,224,018$1,677,008$4,438,087
72$5,903,976$2,291,266$1,691,458$4,799,698
73$6,463,138$2,360,494$1,705,079$5,195,974
74$7,077,978$2,431,758$1,717,799$5,630,401
75$7,754,133$2,505,116$1,729,547$6,106,822
76$8,497,814$2,580,626$1,740,246$6,629,472
77$9,315,862$2,658,348$1,749,815$7,203,016
78$10,215,816$2,738,343$1,758,170$7,832,594
79$11,205,982$2,820,674$1,765,221$8,523,870
80$12,295,512$2,905,407$1,770,876$9,283,085
81$13,494,489$2,992,607$1,775,035$10,117,115
82$14,814,024$3,082,342$1,777,596$11,033,539
83$16,266,359$3,174,681$1,778,450$12,040,705
84$17,864,984$3,269,696$1,777,484$13,147,815
85$19,624,761$3,367,460$1,774,579$14,365,007
86$21,562,068$3,468,047$1,769,608$15,703,453
87$23,694,951$3,571,534$1,762,443$17,175,463
88$26,043,295$3,677,998$1,752,944$18,794,604
89$28,629,012$3,787,520$1,740,967$20,575,824
90$31,476,244$3,900,182$1,726,363$22,535,598
91$34,611,597$4,016,067$1,708,972$24,692,076
92$38,064,386$4,135,260$1,688,629$27,065,265
93$41,866,916$4,257,850$1,665,160$29,677,208
94$46,054,782$4,383,926$1,638,384$32,552,196
95$50,667,210$4,513,579$1,608,110$35,717,000
96$55,747,424$4,646,902$1,574,140$39,201,118
97$61,343,052$4,783,991$1,536,264$43,037,060
98$67,506,580$4,924,943$1,494,266$47,260,647
99$74,295,843$5,069,858$1,447,916$51,911,359
100$81,774,575$5,218,837$1,396,977$57,032,699