Can I retire at age 56 with 1,360,000?

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 $1,360,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.3%
1 years$112,308$111,307$110,331$109,379$108,448$106,960
2 years$55,598$54,562$53,559$52,586$51,642$50,145
3 years$36,697$35,657$34,656$33,692$32,764$31,305
4 years$27,248$26,212$25,221$24,273$23,367$21,958
5 years$21,581$20,550$19,572$18,644$17,764$16,408
6 years$17,804$16,781$15,817$14,910$14,056$12,755
7 years$15,107$14,093$13,144$12,258$11,431$10,185
8 years$13,085$12,080$11,147$10,283$9,483$8,293
9 years$11,513$10,518$9,601$8,759$7,986$6,851
10 years$10,257$9,271$8,371$7,550$6,805$5,723
11 years$9,229$8,253$7,369$6,571$5,852$4,823
12 years$8,374$7,408$6,540$5,764$5,071$4,094
13 years$7,650$6,694$5,843$5,088$4,422$3,495
14 years$7,031$6,085$5,250$4,517$3,877$2,999
15 years$6,494$5,559$4,740$4,028$3,413$2,583
16 years$6,025$5,100$4,298$3,607$3,017$2,232
17 years$5,612$4,697$3,911$3,241$2,675$1,934
18 years$5,245$4,340$3,570$2,921$2,378$1,680
19 years$4,917$4,022$3,268$2,639$2,120$1,463
20 years$4,622$3,738$2,999$2,390$1,893$1,276
21 years$4,356$3,482$2,759$2,169$1,694$1,114
22 years$4,114$3,250$2,543$1,972$1,519$975
23 years$3,893$3,040$2,348$1,796$1,363$853
24 years$3,692$2,848$2,171$1,638$1,225$748
25 years$3,506$2,673$2,011$1,496$1,103$656
26 years$3,335$2,512$1,865$1,368$993$576
27 years$3,178$2,364$1,732$1,252$896$506
28 years$3,031$2,228$1,610$1,147$808$445
29 years$2,895$2,101$1,498$1,052$730$391
30 years$2,768$1,985$1,396$966$659$344
31 years$2,650$1,876$1,301$887$596$303
32 years$2,539$1,775$1,214$815$539$267
33 years$2,436$1,681$1,133$749$488$235
34 years$2,338$1,593$1,059$690$442$207
35 years$2,246$1,511$990$635$400$182
36 years$2,160$1,434$926$585$363$161
37 years$2,078$1,362$867$539$329$142
38 years$2,001$1,295$812$496$298$125
39 years$1,928$1,231$761$458$270$110
40 years$1,859$1,171$713$422$245$97
41 years$1,794$1,115$668$390$222$86
42 years$1,731$1,062$627$360$202$75
43 years$1,672$1,012$588$332$183$67
44 years$1,616$964$552$306$166$59
45 years$1,562$920$519$283$151$52
46 years$1,511$877$487$261$137$46
47 years$1,462$837$458$242$124$40
48 years$1,415$799$430$223$113$36
49 years$1,371$763$404$206$103$31
50 years$1,328$729$380$191$93$28

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $1,360,000, adding $4,268 every year, while hoping to spend $34,394 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: 40/45/15 Blend
55$1,360,000$1,360,000$1,360,000$1,360,000
56$1,503,122$1,431,042$1,409,962$1,556,381
57$1,619,846$1,464,569$1,420,601$1,628,090
58$1,747,323$1,498,585$1,430,444$1,701,943
59$1,886,613$1,533,079$1,439,427$1,781,099
60$2,038,884$1,568,036$1,447,484$1,866,054
61$2,205,422$1,603,442$1,454,547$1,957,358
62$2,387,641$1,639,277$1,460,541$2,055,614
63$2,587,101$1,675,522$1,465,389$2,161,488
64$2,805,518$1,712,155$1,469,012$2,275,714
65$3,044,780$1,749,150$1,471,323$2,399,101
66$3,306,970$1,786,481$1,472,235$2,532,538
67$3,594,380$1,824,117$1,471,654$2,677,007
68$3,909,533$1,862,025$1,469,481$2,833,591
69$4,255,211$1,900,169$1,465,613$3,003,482
70$4,634,475$1,938,511$1,459,944$3,187,996
71$5,050,699$1,977,005$1,452,360$3,388,580
72$5,507,598$2,015,606$1,442,742$3,606,833
73$6,009,266$2,054,264$1,430,966$3,844,515
74$6,560,210$2,092,922$1,416,903$4,103,568
75$7,165,397$2,131,521$1,400,415$4,386,132
76$7,830,299$2,169,997$1,381,360$4,694,566
77$8,560,943$2,208,280$1,359,590$5,031,471
78$9,363,970$2,246,296$1,334,946$5,399,716
79$10,246,694$2,283,963$1,307,266$5,802,461
80$11,217,175$2,321,196$1,276,377$6,243,191
81$12,284,292$2,357,901$1,242,102$6,725,749
82$13,457,830$2,393,977$1,204,252$7,254,371
83$14,748,565$2,429,318$1,162,631$7,833,727
84$16,168,373$2,463,809$1,117,033$8,468,967
85$17,730,338$2,497,327$1,067,245$9,165,765
86$19,448,877$2,529,741$1,013,042$9,930,382
87$21,339,873$2,560,909$954,190$10,769,714
88$23,420,828$2,590,681$890,443$11,691,369
89$25,711,025$2,618,897$821,545$12,703,732
90$28,231,713$2,645,386$747,230$13,816,045
91$31,006,302$2,669,965$667,217$15,038,500
92$34,060,591$2,692,440$581,215$16,382,332
93$37,423,005$2,712,602$488,919$17,859,925
94$41,124,864$2,730,232$390,010$19,484,932
95$45,200,681$2,745,094$284,156$21,272,405
96$49,688,485$2,756,939$171,011$23,238,934
97$54,630,181$2,765,500$50,210$25,402,810
98$60,071,945$2,770,494$0$27,784,195
99$66,064,657$2,771,623$0$30,417,913
100$72,664,386$2,768,565$0$33,325,260