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

Use the below retirement simulation to view the chances of a successful retirement.
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%12.7%
1 years$111,482$110,489$109,520$108,574$107,651$106,438
2 years$55,189$54,161$53,165$52,199$51,262$50,041
3 years$36,427$35,395$34,401$33,445$32,523$31,332
4 years$27,048$26,019$25,035$24,095$23,196$22,043
5 years$21,422$20,399$19,428$18,507$17,633$16,523
6 years$17,673$16,657$15,701$14,800$13,952$12,886
7 years$14,996$13,989$13,048$12,168$11,347$10,325
8 years$12,989$11,991$11,065$10,208$9,413$8,435
9 years$11,429$10,440$9,531$8,695$7,927$6,993
10 years$10,181$9,203$8,309$7,495$6,755$5,863
11 years$9,161$8,193$7,315$6,523$5,809$4,960
12 years$8,312$7,353$6,492$5,721$5,034$4,226
13 years$7,594$6,645$5,800$5,051$4,390$3,622
14 years$6,979$6,040$5,211$4,484$3,848$3,120
15 years$6,446$5,518$4,705$3,999$3,388$2,698
16 years$5,981$5,063$4,266$3,580$2,994$2,342
17 years$5,571$4,662$3,882$3,217$2,655$2,038
18 years$5,206$4,308$3,544$2,899$2,361$1,778
19 years$4,881$3,993$3,244$2,620$2,104$1,555
20 years$4,588$3,710$2,977$2,373$1,880$1,362
21 years$4,324$3,456$2,738$2,153$1,682$1,195
22 years$4,084$3,226$2,524$1,958$1,508$1,050
23 years$3,865$3,017$2,330$1,783$1,353$923
24 years$3,665$2,827$2,155$1,626$1,216$813
25 years$3,481$2,653$1,996$1,485$1,095$717
26 years$3,311$2,493$1,851$1,358$986$632
27 years$3,154$2,347$1,719$1,243$889$558
28 years$3,009$2,211$1,598$1,139$802$493
29 years$2,874$2,086$1,487$1,044$724$435
30 years$2,748$1,970$1,385$958$654$385
31 years$2,631$1,862$1,291$880$592$340
32 years$2,521$1,762$1,205$809$535$301
33 years$2,418$1,669$1,125$744$484$267
34 years$2,321$1,582$1,051$684$439$236
35 years$2,230$1,500$983$630$397$209
36 years$2,144$1,424$919$580$360$185
37 years$2,063$1,352$861$535$326$164
38 years$1,987$1,285$806$493$296$145
39 years$1,914$1,222$755$454$268$129
40 years$1,846$1,163$708$419$243$114
41 years$1,781$1,107$664$387$221$101
42 years$1,719$1,054$622$357$200$90
43 years$1,660$1,004$584$329$182$80
44 years$1,604$957$548$304$165$71
45 years$1,551$913$515$281$150$63
46 years$1,500$871$484$259$136$55
47 years$1,451$831$454$240$123$49
48 years$1,405$793$427$222$112$44
49 years$1,361$758$401$205$102$39
50 years$1,318$724$377$189$92$34

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 $3,712 every year, while hoping to spend $49,804 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: 43/27/30 Blend
55$1,350,000$1,350,000$1,350,000$1,350,000
56$1,491,529$1,419,979$1,399,054$1,542,476
57$1,590,674$1,436,567$1,392,931$1,596,072
58$1,698,262$1,452,298$1,384,934$1,649,142
59$1,815,103$1,467,079$1,374,947$1,705,713
60$1,942,085$1,480,808$1,362,850$1,766,142
61$2,080,188$1,493,377$1,348,515$1,830,822
62$2,230,487$1,504,673$1,331,811$1,900,190
63$2,394,168$1,514,573$1,312,597$1,974,729
64$2,572,533$1,522,947$1,290,730$2,054,976
65$2,767,018$1,529,658$1,266,056$2,141,525
66$2,979,201$1,534,558$1,238,416$2,235,031
67$3,210,820$1,537,492$1,207,643$2,336,224
68$3,463,788$1,538,294$1,173,563$2,445,909
69$3,740,211$1,536,786$1,135,994$2,564,977
70$4,042,407$1,532,784$1,094,745$2,694,416
71$4,372,929$1,526,087$1,049,615$2,835,315
72$4,734,588$1,516,484$1,000,397$2,988,884
73$5,130,478$1,503,754$946,872$3,156,458
74$5,564,006$1,487,658$888,812$3,339,513
75$6,038,927$1,467,945$825,979$3,539,684
76$6,559,372$1,444,349$758,124$3,758,777
77$7,129,894$1,416,588$684,987$3,998,787
78$7,755,505$1,384,363$606,296$4,261,923
79$8,441,727$1,347,357$521,767$4,550,621
80$9,194,641$1,305,235$431,104$4,867,579
81$10,020,945$1,257,643$333,998$5,215,773
82$10,928,019$1,204,205$230,124$5,598,493
83$11,923,990$1,144,524$119,147$6,019,376
84$13,017,812$1,078,180$712$6,482,434
85$14,219,347$1,004,729$0$6,992,102
86$15,539,460$923,701$0$7,593,507
87$16,990,122$834,599$0$8,254,685
88$18,584,519$736,899$0$8,981,506
89$20,337,179$630,046$0$9,780,697
90$22,264,107$513,454$0$10,659,675
91$24,382,936$386,504$0$11,626,619
92$26,713,094$248,541$0$12,690,548
93$29,275,987$98,876$0$13,861,410
94$32,095,196$0$0$15,150,172
95$35,196,706$0$0$16,587,710
96$38,609,145$0$0$18,201,874
97$42,364,058$0$0$19,978,234
98$46,496,201$0$0$21,933,254
99$51,043,870$0$0$24,085,080
100$56,049,259$0$0$26,453,703