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%15.8%
1 years$113,133$112,126$111,142$110,183$109,246$106,648
2 years$56,007$54,964$53,953$52,972$52,022$49,420
3 years$36,967$35,919$34,911$33,940$33,005$30,480
4 years$27,449$26,404$25,406$24,452$23,539$21,111
5 years$21,740$20,701$19,716$18,781$17,894$15,569
6 years$17,935$16,904$15,934$15,020$14,159$11,940
7 years$15,218$14,196$13,241$12,348$11,515$9,402
8 years$13,181$12,169$11,229$10,359$9,553$7,544
9 years$11,598$10,595$9,672$8,823$8,045$6,140
10 years$10,332$9,339$8,432$7,606$6,855$5,051
11 years$9,297$8,314$7,424$6,619$5,895$4,191
12 years$8,435$7,462$6,588$5,806$5,109$3,500
13 years$7,706$6,744$5,886$5,126$4,455$2,939
14 years$7,082$6,130$5,289$4,550$3,905$2,479
15 years$6,542$5,600$4,775$4,058$3,438$2,099
16 years$6,070$5,138$4,329$3,633$3,039$1,782
17 years$5,653$4,732$3,939$3,265$2,694$1,517
18 years$5,284$4,372$3,596$2,942$2,396$1,294
19 years$4,953$4,052$3,292$2,658$2,135$1,106
20 years$4,656$3,765$3,021$2,408$1,907$947
21 years$4,388$3,507$2,779$2,185$1,707$811
22 years$4,144$3,274$2,561$1,987$1,530$696
23 years$3,922$3,062$2,365$1,809$1,373$598
24 years$3,719$2,869$2,187$1,650$1,234$514
25 years$3,532$2,692$2,026$1,507$1,111$442
26 years$3,360$2,530$1,879$1,378$1,001$380
27 years$3,201$2,381$1,745$1,261$902$327
28 years$3,053$2,244$1,622$1,156$814$282
29 years$2,916$2,117$1,509$1,060$735$243
30 years$2,789$1,999$1,406$973$664$209
31 years$2,670$1,890$1,311$893$600$180
32 years$2,558$1,788$1,223$821$543$156
33 years$2,453$1,693$1,142$755$492$134
34 years$2,355$1,605$1,067$695$445$116
35 years$2,263$1,522$997$639$403$100
36 years$2,176$1,445$933$589$365$86
37 years$2,094$1,372$873$543$331$74
38 years$2,016$1,304$818$500$300$64
39 years$1,943$1,240$766$461$272$55
40 years$1,873$1,180$718$425$247$48
41 years$1,807$1,123$673$392$224$41
42 years$1,744$1,070$632$362$203$36
43 years$1,685$1,019$593$334$184$31
44 years$1,628$972$556$309$167$27
45 years$1,574$926$522$285$152$23
46 years$1,522$884$491$263$138$20
47 years$1,473$843$461$243$125$17
48 years$1,426$805$433$225$114$15
49 years$1,381$769$407$208$103$13
50 years$1,338$734$383$192$94$11

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 $6,322 every year, while hoping to spend $49,639 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: 76/10/14 Blend
55$1,370,000$1,370,000$1,370,000$1,370,000
56$1,516,261$1,443,651$1,422,416$1,626,579
57$1,618,104$1,461,575$1,417,252$1,718,177
58$1,728,672$1,478,712$1,410,250$1,811,709
59$1,848,801$1,494,974$1,401,298$1,912,880
60$1,979,413$1,510,262$1,390,276$2,022,433
61$2,121,522$1,524,474$1,377,059$2,141,190
62$2,276,242$1,537,498$1,361,516$2,270,052
63$2,444,802$1,549,218$1,343,509$2,410,017
64$2,628,550$1,559,508$1,322,895$2,562,182
65$2,828,973$1,568,236$1,299,524$2,727,754
66$3,047,708$1,575,259$1,273,237$2,908,068
67$3,286,554$1,580,426$1,243,870$3,104,591
68$3,547,494$1,583,578$1,211,251$3,318,942
69$3,832,709$1,584,545$1,175,199$3,552,904
70$4,144,603$1,583,145$1,135,526$3,808,444
71$4,485,820$1,579,186$1,092,034$4,087,729
72$4,859,273$1,572,466$1,044,516$4,393,147
73$5,268,169$1,562,767$992,757$4,727,330
74$5,716,039$1,549,860$936,532$5,093,179
75$6,206,774$1,533,501$875,605$5,493,893
76$6,744,656$1,513,434$809,729$5,932,997
77$7,334,403$1,489,385$738,647$6,414,376
78$7,981,211$1,461,063$662,090$6,942,312
79$8,690,802$1,428,163$579,778$7,521,525
80$9,469,480$1,390,359$491,416$8,157,220
81$10,324,188$1,347,307$396,700$8,855,130
82$11,262,574$1,298,644$295,308$9,621,577
83$12,293,063$1,243,984$186,907$10,463,528
84$13,424,936$1,182,920$71,148$11,388,664
85$14,668,415$1,115,019$0$12,405,449
86$16,034,766$1,039,827$0$13,531,039
87$17,536,394$956,860$0$14,779,744
88$19,186,970$865,610$0$16,152,320
89$21,001,553$765,538$0$17,661,321
90$22,996,736$656,073$0$19,320,585
91$25,190,797$536,615$0$21,145,358
92$27,603,877$406,528$0$23,152,439
93$30,258,165$265,140$0$25,360,344
94$33,178,110$111,744$0$27,789,472
95$36,390,647$0$0$30,462,305
96$39,925,457$0$0$33,409,604
97$43,815,241$0$0$36,666,470
98$48,096,031$0$0$40,250,782
99$52,807,528$0$0$44,195,791
100$57,993,477$0$0$48,538,133