Can I retire at age 56 with 1,370,000?

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 $1,370,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15%
1 years$113,133$112,126$111,142$110,183$109,246$106,996
2 years$56,007$54,964$53,953$52,972$52,022$49,766
3 years$36,967$35,919$34,911$33,940$33,005$30,812
4 years$27,449$26,404$25,406$24,452$23,539$21,428
5 years$21,740$20,701$19,716$18,781$17,894$15,869
6 years$17,935$16,904$15,934$15,020$14,159$12,223
7 years$15,218$14,196$13,241$12,348$11,515$9,668
8 years$13,181$12,169$11,229$10,359$9,553$7,795
9 years$11,598$10,595$9,672$8,823$8,045$6,374
10 years$10,332$9,339$8,432$7,606$6,855$5,270
11 years$9,297$8,314$7,424$6,619$5,895$4,394
12 years$8,435$7,462$6,588$5,806$5,109$3,689
13 years$7,706$6,744$5,886$5,126$4,455$3,115
14 years$7,082$6,130$5,289$4,550$3,905$2,642
15 years$6,542$5,600$4,775$4,058$3,438$2,249
16 years$6,070$5,138$4,329$3,633$3,039$1,920
17 years$5,653$4,732$3,939$3,265$2,694$1,644
18 years$5,284$4,372$3,596$2,942$2,396$1,411
19 years$4,953$4,052$3,292$2,658$2,135$1,213
20 years$4,656$3,765$3,021$2,408$1,907$1,044
21 years$4,388$3,507$2,779$2,185$1,707$901
22 years$4,144$3,274$2,561$1,987$1,530$777
23 years$3,922$3,062$2,365$1,809$1,373$672
24 years$3,719$2,869$2,187$1,650$1,234$581
25 years$3,532$2,692$2,026$1,507$1,111$503
26 years$3,360$2,530$1,879$1,378$1,001$435
27 years$3,201$2,381$1,745$1,261$902$377
28 years$3,053$2,244$1,622$1,156$814$327
29 years$2,916$2,117$1,509$1,060$735$284
30 years$2,789$1,999$1,406$973$664$246
31 years$2,670$1,890$1,311$893$600$214
32 years$2,558$1,788$1,223$821$543$185
33 years$2,453$1,693$1,142$755$492$161
34 years$2,355$1,605$1,067$695$445$140
35 years$2,263$1,522$997$639$403$121
36 years$2,176$1,445$933$589$365$105
37 years$2,094$1,372$873$543$331$92
38 years$2,016$1,304$818$500$300$80
39 years$1,943$1,240$766$461$272$69
40 years$1,873$1,180$718$425$247$60
41 years$1,807$1,123$673$392$224$52
42 years$1,744$1,070$632$362$203$45
43 years$1,685$1,019$593$334$184$39
44 years$1,628$972$556$309$167$34
45 years$1,574$926$522$285$152$30
46 years$1,522$884$491$263$138$26
47 years$1,473$843$461$243$125$23
48 years$1,426$805$433$225$114$20
49 years$1,381$769$407$208$103$17
50 years$1,338$734$383$192$94$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $1,370,000, adding $2,161 every year, while hoping to spend $29,584 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: 44/32/24 Blend
55$1,370,000$1,370,000$1,370,000$1,370,000
56$1,511,969$1,439,359$1,418,124$1,567,886
57$1,634,713$1,478,411$1,434,154$1,646,799
58$1,768,985$1,518,384$1,449,730$1,729,255
59$1,915,930$1,559,293$1,464,804$1,818,047
60$2,076,808$1,601,152$1,479,329$1,913,780
61$2,253,008$1,643,974$1,493,251$2,017,118
62$2,446,058$1,687,772$1,506,518$2,128,794
63$2,657,641$1,732,558$1,519,072$2,249,613
64$2,889,611$1,778,344$1,530,851$2,380,464
65$3,144,010$1,825,141$1,541,794$2,522,325
66$3,423,087$1,872,961$1,551,832$2,676,273
67$3,729,319$1,921,813$1,560,895$2,843,495
68$4,065,435$1,971,707$1,568,910$3,025,300
69$4,434,439$2,022,652$1,575,799$3,223,129
70$4,839,644$2,074,654$1,581,481$3,438,568
71$5,284,696$2,127,720$1,585,868$3,673,368
72$5,773,612$2,181,855$1,588,872$3,929,456
73$6,310,819$2,237,065$1,590,398$4,208,957
74$6,901,193$2,293,351$1,590,346$4,514,210
75$7,550,104$2,350,715$1,588,613$4,847,796
76$8,263,472$2,409,157$1,585,088$5,212,556
77$9,047,816$2,468,676$1,579,659$5,611,624
78$9,910,319$2,529,267$1,572,203$6,048,451
79$10,858,896$2,590,925$1,562,597$6,526,842
80$11,902,266$2,653,643$1,550,706$7,050,990
81$13,050,037$2,717,411$1,536,394$7,625,515
82$14,312,792$2,782,216$1,519,515$8,255,510
83$15,702,196$2,848,043$1,499,918$8,946,588
84$17,231,098$2,914,876$1,477,443$9,704,934
85$18,913,658$2,982,692$1,451,925$10,537,366
86$20,765,475$3,051,469$1,423,189$11,451,397
87$22,803,741$3,121,178$1,391,053$12,455,307
88$25,047,396$3,191,789$1,355,327$13,558,224
89$27,517,310$3,263,266$1,315,810$14,770,206
90$30,236,481$3,335,571$1,272,294$16,102,338
91$33,230,247$3,408,660$1,224,562$17,566,840
92$36,526,532$3,482,483$1,172,384$19,177,177
93$40,156,102$3,556,989$1,115,523$20,948,190
94$44,152,859$3,632,117$1,053,728$22,896,237
95$48,554,163$3,707,802$986,740$25,039,345
96$53,401,177$3,783,974$914,285$27,397,384
97$58,739,263$3,860,554$836,079$29,992,252
98$64,618,406$3,937,459$751,826$32,848,083
99$71,093,684$4,014,596$661,213$35,991,477
100$78,225,794$4,091,865$563,918$39,451,749