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

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 $1,360,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.8%
1 years$112,308$111,307$110,331$109,379$108,448$105,870
2 years$55,598$54,562$53,559$52,586$51,642$49,059
3 years$36,697$35,657$34,656$33,692$32,764$30,257
4 years$27,248$26,212$25,221$24,273$23,367$20,957
5 years$21,581$20,550$19,572$18,644$17,764$15,455
6 years$17,804$16,781$15,817$14,910$14,056$11,852
7 years$15,107$14,093$13,144$12,258$11,431$9,333
8 years$13,085$12,080$11,147$10,283$9,483$7,489
9 years$11,513$10,518$9,601$8,759$7,986$6,095
10 years$10,257$9,271$8,371$7,550$6,805$5,014
11 years$9,229$8,253$7,369$6,571$5,852$4,160
12 years$8,374$7,408$6,540$5,764$5,071$3,474
13 years$7,650$6,694$5,843$5,088$4,422$2,918
14 years$7,031$6,085$5,250$4,517$3,877$2,461
15 years$6,494$5,559$4,740$4,028$3,413$2,083
16 years$6,025$5,100$4,298$3,607$3,017$1,769
17 years$5,612$4,697$3,911$3,241$2,675$1,506
18 years$5,245$4,340$3,570$2,921$2,378$1,285
19 years$4,917$4,022$3,268$2,639$2,120$1,098
20 years$4,622$3,738$2,999$2,390$1,893$940
21 years$4,356$3,482$2,759$2,169$1,694$805
22 years$4,114$3,250$2,543$1,972$1,519$691
23 years$3,893$3,040$2,348$1,796$1,363$593
24 years$3,692$2,848$2,171$1,638$1,225$510
25 years$3,506$2,673$2,011$1,496$1,103$438
26 years$3,335$2,512$1,865$1,368$993$377
27 years$3,178$2,364$1,732$1,252$896$325
28 years$3,031$2,228$1,610$1,147$808$280
29 years$2,895$2,101$1,498$1,052$730$241
30 years$2,768$1,985$1,396$966$659$208
31 years$2,650$1,876$1,301$887$596$179
32 years$2,539$1,775$1,214$815$539$154
33 years$2,436$1,681$1,133$749$488$133
34 years$2,338$1,593$1,059$690$442$115
35 years$2,246$1,511$990$635$400$99
36 years$2,160$1,434$926$585$363$86
37 years$2,078$1,362$867$539$329$74
38 years$2,001$1,295$812$496$298$64
39 years$1,928$1,231$761$458$270$55
40 years$1,859$1,171$713$422$245$47
41 years$1,794$1,115$668$390$222$41
42 years$1,731$1,062$627$360$202$35
43 years$1,672$1,012$588$332$183$31
44 years$1,616$964$552$306$166$26
45 years$1,562$920$519$283$151$23
46 years$1,511$877$487$261$137$20
47 years$1,462$837$458$242$124$17
48 years$1,415$799$430$223$113$15
49 years$1,371$763$404$206$103$13
50 years$1,328$729$380$191$93$11

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 $2,373 every year, while hoping to spend $21,901 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: 54/35/11 Blend
55$1,360,000$1,360,000$1,360,000$1,360,000
56$1,501,168$1,429,088$1,408,008$1,577,888
57$1,630,984$1,475,811$1,431,874$1,676,962
58$1,773,308$1,524,089$1,455,805$1,782,157
59$1,929,392$1,573,975$1,479,781$1,896,139
60$2,100,615$1,625,526$1,503,779$2,019,744
61$2,288,498$1,678,796$1,527,775$2,153,897
62$2,494,713$1,733,846$1,551,744$2,299,611
63$2,721,106$1,790,736$1,575,659$2,458,004
64$2,969,706$1,849,529$1,599,491$2,630,303
65$3,242,751$1,910,292$1,623,209$2,817,862
66$3,542,707$1,973,091$1,646,782$3,022,167
67$3,872,287$2,037,996$1,670,173$3,244,857
68$4,234,484$2,105,082$1,693,347$3,487,734
69$4,632,592$2,174,422$1,716,265$3,752,782
70$5,070,242$2,246,094$1,738,886$4,042,186
71$5,551,434$2,320,180$1,761,166$4,358,351
72$6,080,575$2,396,763$1,783,060$4,703,924
73$6,662,519$2,475,930$1,804,518$5,081,822
74$7,302,616$2,557,771$1,825,489$5,495,254
75$8,006,759$2,642,377$1,845,919$5,947,756
76$8,781,442$2,729,847$1,865,750$6,443,221
77$9,633,819$2,820,280$1,884,923$6,985,936
78$10,571,774$2,913,779$1,903,374$7,580,623
79$11,603,992$3,010,452$1,921,034$8,232,484
80$12,740,044$3,110,409$1,937,834$8,947,245
81$13,990,476$3,213,766$1,953,698$9,731,217
82$15,366,907$3,320,643$1,968,549$10,591,348
83$16,882,139$3,431,162$1,982,304$11,535,295
84$18,550,282$3,545,453$1,994,875$12,571,489
85$20,386,879$3,663,649$2,006,172$13,709,220
86$22,409,059$3,785,887$2,016,098$14,958,720
87$24,635,698$3,912,310$2,024,552$16,331,263
88$27,087,593$4,043,067$2,031,428$17,839,266
89$29,787,661$4,178,311$2,036,614$19,496,413
90$32,761,156$4,318,201$2,039,994$21,317,776
91$36,035,905$4,462,904$2,041,445$23,319,961
92$39,642,571$4,612,590$2,040,837$25,521,264
93$43,614,943$4,767,437$2,038,035$27,941,842
94$47,990,256$4,927,630$2,032,898$30,603,904
95$52,809,538$5,093,360$2,025,276$33,531,919
96$58,118,002$5,264,825$2,015,013$36,752,848
97$63,965,468$5,442,232$2,001,947$40,296,394
98$70,406,839$5,625,794$1,985,904$44,195,288
99$77,502,611$5,815,732$1,966,707$48,485,592
100$85,319,451$6,012,277$1,944,165$53,207,042