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%16%
1 years$112,308$111,307$110,331$109,379$108,448$105,784
2 years$55,598$54,562$53,559$52,586$51,642$48,974
3 years$36,697$35,657$34,656$33,692$32,764$30,176
4 years$27,248$26,212$25,221$24,273$23,367$20,879
5 years$21,581$20,550$19,572$18,644$17,764$15,382
6 years$17,804$16,781$15,817$14,910$14,056$11,783
7 years$15,107$14,093$13,144$12,258$11,431$9,268
8 years$13,085$12,080$11,147$10,283$9,483$7,429
9 years$11,513$10,518$9,601$8,759$7,986$6,038
10 years$10,257$9,271$8,371$7,550$6,805$4,961
11 years$9,229$8,253$7,369$6,571$5,852$4,111
12 years$8,374$7,408$6,540$5,764$5,071$3,429
13 years$7,650$6,694$5,843$5,088$4,422$2,876
14 years$7,031$6,085$5,250$4,517$3,877$2,422
15 years$6,494$5,559$4,740$4,028$3,413$2,048
16 years$6,025$5,100$4,298$3,607$3,017$1,736
17 years$5,612$4,697$3,911$3,241$2,675$1,476
18 years$5,245$4,340$3,570$2,921$2,378$1,257
19 years$4,917$4,022$3,268$2,639$2,120$1,073
20 years$4,622$3,738$2,999$2,390$1,893$917
21 years$4,356$3,482$2,759$2,169$1,694$785
22 years$4,114$3,250$2,543$1,972$1,519$672
23 years$3,893$3,040$2,348$1,796$1,363$576
24 years$3,692$2,848$2,171$1,638$1,225$494
25 years$3,506$2,673$2,011$1,496$1,103$424
26 years$3,335$2,512$1,865$1,368$993$365
27 years$3,178$2,364$1,732$1,252$896$313
28 years$3,031$2,228$1,610$1,147$808$270
29 years$2,895$2,101$1,498$1,052$730$232
30 years$2,768$1,985$1,396$966$659$199
31 years$2,650$1,876$1,301$887$596$172
32 years$2,539$1,775$1,214$815$539$148
33 years$2,436$1,681$1,133$749$488$127
34 years$2,338$1,593$1,059$690$442$110
35 years$2,246$1,511$990$635$400$94
36 years$2,160$1,434$926$585$363$81
37 years$2,078$1,362$867$539$329$70
38 years$2,001$1,295$812$496$298$60
39 years$1,928$1,231$761$458$270$52
40 years$1,859$1,171$713$422$245$45
41 years$1,794$1,115$668$390$222$39
42 years$1,731$1,062$627$360$202$33
43 years$1,672$1,012$588$332$183$29
44 years$1,616$964$552$306$166$25
45 years$1,562$920$519$283$151$21
46 years$1,511$877$487$261$137$18
47 years$1,462$837$458$242$124$16
48 years$1,415$799$430$223$113$14
49 years$1,371$763$404$206$103$12
50 years$1,328$729$380$191$93$10

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 $3,404 every year, while hoping to spend $37,437 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: 49/37/14 Blend
55$1,360,000$1,360,000$1,360,000$1,360,000
56$1,502,231$1,430,151$1,409,071$1,569,882
57$1,615,626$1,460,396$1,416,442$1,647,074
58$1,739,333$1,490,868$1,422,806$1,726,712
59$1,874,363$1,521,539$1,428,088$1,812,389
60$2,021,831$1,552,378$1,432,212$1,904,682
61$2,182,964$1,583,350$1,435,098$2,004,230
62$2,359,112$1,614,420$1,436,659$2,111,735
63$2,551,762$1,645,547$1,436,808$2,227,972
64$2,762,551$1,676,688$1,435,450$2,353,794
65$2,993,282$1,707,796$1,432,488$2,490,143
66$3,245,939$1,738,821$1,427,819$2,638,055
67$3,522,708$1,769,706$1,421,334$2,798,675
68$3,825,997$1,800,395$1,412,921$2,973,263
69$4,158,456$1,830,822$1,402,462$3,163,209
70$4,523,006$1,860,919$1,389,832$3,370,046
71$4,922,862$1,890,613$1,374,900$3,595,462
72$5,361,566$1,919,826$1,357,532$3,841,319
73$5,843,021$1,948,472$1,337,584$4,109,673
74$6,371,522$1,976,461$1,314,906$4,402,785
75$6,951,805$2,003,695$1,289,344$4,723,153
76$7,589,084$2,030,071$1,260,732$5,073,528
77$8,289,104$2,055,478$1,228,899$5,456,944
78$9,058,193$2,079,796$1,193,667$5,876,748
79$9,903,322$2,102,899$1,154,848$6,336,626
80$10,832,172$2,124,652$1,112,247$6,840,646
81$11,853,203$2,144,911$1,065,658$7,393,291
82$12,975,739$2,163,520$1,014,866$7,999,504
83$14,210,049$2,180,318$959,649$8,664,736
84$15,567,449$2,195,128$899,772$9,394,993
85$17,060,404$2,207,764$834,989$10,196,902
86$18,702,651$2,218,030$765,047$11,077,764
87$20,509,322$2,225,715$689,677$12,045,633
88$22,497,093$2,230,595$608,601$13,109,384
89$24,684,334$2,232,432$521,527$14,278,804
90$27,091,289$2,230,974$428,151$15,564,681
91$29,740,262$2,225,953$328,156$16,978,911
92$32,655,829$2,217,084$221,208$18,534,604
93$35,865,068$2,204,066$106,963$20,246,216
94$39,397,817$2,186,577$0$22,129,683
95$43,286,954$2,164,279$0$24,204,805
96$47,568,705$2,136,811$0$26,505,911
97$52,282,989$2,103,791$0$29,038,412
98$57,473,792$2,064,814$0$31,825,902
99$63,189,582$2,019,453$0$34,894,386
100$69,483,766$1,967,254$0$38,272,528