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%12.9%
1 years$112,308$111,307$110,331$109,379$108,448$107,138
2 years$55,598$54,562$53,559$52,586$51,642$50,323
3 years$36,697$35,657$34,656$33,692$32,764$31,477
4 years$27,248$26,212$25,221$24,273$23,367$22,123
5 years$21,581$20,550$19,572$18,644$17,764$16,566
6 years$17,804$16,781$15,817$14,910$14,056$12,905
7 years$15,107$14,093$13,144$12,258$11,431$10,329
8 years$13,085$12,080$11,147$10,283$9,483$8,429
9 years$11,513$10,518$9,601$8,759$7,986$6,979
10 years$10,257$9,271$8,371$7,550$6,805$5,845
11 years$9,229$8,253$7,369$6,571$5,852$4,938
12 years$8,374$7,408$6,540$5,764$5,071$4,202
13 years$7,650$6,694$5,843$5,088$4,422$3,597
14 years$7,031$6,085$5,250$4,517$3,877$3,094
15 years$6,494$5,559$4,740$4,028$3,413$2,672
16 years$6,025$5,100$4,298$3,607$3,017$2,316
17 years$5,612$4,697$3,911$3,241$2,675$2,013
18 years$5,245$4,340$3,570$2,921$2,378$1,754
19 years$4,917$4,022$3,268$2,639$2,120$1,531
20 years$4,622$3,738$2,999$2,390$1,893$1,339
21 years$4,356$3,482$2,759$2,169$1,694$1,173
22 years$4,114$3,250$2,543$1,972$1,519$1,029
23 years$3,893$3,040$2,348$1,796$1,363$904
24 years$3,692$2,848$2,171$1,638$1,225$795
25 years$3,506$2,673$2,011$1,496$1,103$699
26 years$3,335$2,512$1,865$1,368$993$616
27 years$3,178$2,364$1,732$1,252$896$543
28 years$3,031$2,228$1,610$1,147$808$479
29 years$2,895$2,101$1,498$1,052$730$422
30 years$2,768$1,985$1,396$966$659$373
31 years$2,650$1,876$1,301$887$596$329
32 years$2,539$1,775$1,214$815$539$291
33 years$2,436$1,681$1,133$749$488$257
34 years$2,338$1,593$1,059$690$442$227
35 years$2,246$1,511$990$635$400$201
36 years$2,160$1,434$926$585$363$177
37 years$2,078$1,362$867$539$329$157
38 years$2,001$1,295$812$496$298$139
39 years$1,928$1,231$761$458$270$123
40 years$1,859$1,171$713$422$245$109
41 years$1,794$1,115$668$390$222$96
42 years$1,731$1,062$627$360$202$85
43 years$1,672$1,012$588$332$183$75
44 years$1,616$964$552$306$166$67
45 years$1,562$920$519$283$151$59
46 years$1,511$877$487$261$137$52
47 years$1,462$837$458$242$124$46
48 years$1,415$799$430$223$113$41
49 years$1,371$763$404$206$103$36
50 years$1,328$729$380$191$93$32

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 $5,899 every year, while hoping to spend $51,476 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: 38/36/26 Blend
55$1,360,000$1,360,000$1,360,000$1,360,000
56$1,504,805$1,432,725$1,411,645$1,550,133
57$1,603,525$1,448,158$1,404,165$1,599,254
58$1,710,589$1,462,623$1,394,709$1,647,122
59$1,826,794$1,476,016$1,383,157$1,697,854
60$1,953,017$1,488,231$1,369,382$1,751,741
61$2,090,220$1,499,150$1,353,252$1,809,109
62$2,239,466$1,508,651$1,334,629$1,870,318
63$2,401,919$1,516,603$1,313,367$1,935,768
64$2,578,865$1,522,866$1,289,315$2,005,903
65$2,771,716$1,527,293$1,262,314$2,081,217
66$2,982,026$1,529,726$1,232,197$2,162,257
67$3,211,507$1,529,997$1,198,790$2,249,629
68$3,462,043$1,527,929$1,161,911$2,344,005
69$3,735,707$1,523,333$1,121,371$2,446,134
70$4,034,781$1,516,009$1,076,969$2,556,840
71$4,361,779$1,505,743$1,028,497$2,677,040
72$4,719,467$1,492,312$975,739$2,807,750
73$5,110,893$1,475,475$918,466$2,950,094
74$5,539,410$1,454,979$856,440$3,105,317
75$6,008,712$1,430,556$789,414$3,274,799
76$6,522,869$1,401,921$717,127$3,460,066
77$7,086,359$1,368,773$639,309$3,662,807
78$7,704,118$1,330,792$555,675$3,884,892
79$8,381,578$1,287,642$465,931$4,128,390
80$9,124,727$1,238,963$369,767$4,395,590
81$9,940,155$1,184,379$266,861$4,689,023
82$10,835,126$1,123,488$156,875$5,011,489
83$11,817,637$1,055,868$39,459$5,366,082
84$12,896,501$981,070$0$5,756,226
85$14,081,423$898,621$0$6,209,518
86$15,383,095$808,021$0$6,719,554
87$16,813,297$708,740$0$7,280,110
88$18,385,005$600,220$0$7,896,406
89$20,112,514$481,870$0$8,574,206
90$22,011,576$353,067$0$9,319,868
91$24,099,540$213,151$0$10,140,409
92$26,395,525$61,427$0$11,043,570
93$28,920,592$0$0$12,037,893
94$31,697,946$0$0$13,173,541
95$34,753,156$0$0$14,449,782
96$38,114,390$0$0$15,854,073
97$41,812,687$0$0$17,399,411
98$45,882,245$0$0$19,100,112
99$50,360,746$0$0$20,971,952
100$55,289,706$0$0$23,032,315