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%11.7%
1 years$113,133$112,126$111,142$110,183$109,246$108,466
2 years$56,007$54,964$53,953$52,972$52,022$51,236
3 years$36,967$35,919$34,911$33,940$33,005$32,237
4 years$27,449$26,404$25,406$24,452$23,539$22,795
5 years$21,740$20,701$19,716$18,781$17,894$17,176
6 years$17,935$16,904$15,934$15,020$14,159$13,467
7 years$15,218$14,196$13,241$12,348$11,515$10,851
8 years$13,181$12,169$11,229$10,359$9,553$8,916
9 years$11,598$10,595$9,672$8,823$8,045$7,435
10 years$10,332$9,339$8,432$7,606$6,855$6,271
11 years$9,297$8,314$7,424$6,619$5,895$5,338
12 years$8,435$7,462$6,588$5,806$5,109$4,577
13 years$7,706$6,744$5,886$5,126$4,455$3,949
14 years$7,082$6,130$5,289$4,550$3,905$3,423
15 years$6,542$5,600$4,775$4,058$3,438$2,981
16 years$6,070$5,138$4,329$3,633$3,039$2,604
17 years$5,653$4,732$3,939$3,265$2,694$2,282
18 years$5,284$4,372$3,596$2,942$2,396$2,006
19 years$4,953$4,052$3,292$2,658$2,135$1,766
20 years$4,656$3,765$3,021$2,408$1,907$1,559
21 years$4,388$3,507$2,779$2,185$1,707$1,378
22 years$4,144$3,274$2,561$1,987$1,530$1,219
23 years$3,922$3,062$2,365$1,809$1,373$1,081
24 years$3,719$2,869$2,187$1,650$1,234$959
25 years$3,532$2,692$2,026$1,507$1,111$852
26 years$3,360$2,530$1,879$1,378$1,001$757
27 years$3,201$2,381$1,745$1,261$902$674
28 years$3,053$2,244$1,622$1,156$814$600
29 years$2,916$2,117$1,509$1,060$735$534
30 years$2,789$1,999$1,406$973$664$476
31 years$2,670$1,890$1,311$893$600$425
32 years$2,558$1,788$1,223$821$543$379
33 years$2,453$1,693$1,142$755$492$338
34 years$2,355$1,605$1,067$695$445$302
35 years$2,263$1,522$997$639$403$270
36 years$2,176$1,445$933$589$365$241
37 years$2,094$1,372$873$543$331$215
38 years$2,016$1,304$818$500$300$192
39 years$1,943$1,240$766$461$272$172
40 years$1,873$1,180$718$425$247$154
41 years$1,807$1,123$673$392$224$137
42 years$1,744$1,070$632$362$203$123
43 years$1,685$1,019$593$334$184$110
44 years$1,628$972$556$309$167$98
45 years$1,574$926$522$285$152$88
46 years$1,522$884$491$263$138$79
47 years$1,473$843$461$243$125$70
48 years$1,426$805$433$225$114$63
49 years$1,381$769$407$208$103$56
50 years$1,338$734$383$192$94$50

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 $3,914 every year, while hoping to spend $49,149 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: 57/28/15 Blend
55$1,370,000$1,370,000$1,370,000$1,370,000
56$1,513,777$1,441,167$1,419,932$1,593,978
57$1,615,888$1,459,490$1,415,206$1,667,099
58$1,726,768$1,477,064$1,408,674$1,741,022
59$1,847,257$1,493,799$1,400,224$1,820,443
60$1,978,284$1,509,602$1,389,738$1,905,897
61$2,120,868$1,524,372$1,377,093$1,997,976
62$2,276,131$1,538,000$1,362,160$2,097,334
63$2,445,307$1,550,372$1,344,803$2,204,691
64$2,629,754$1,561,367$1,324,880$2,320,843
65$2,830,969$1,570,854$1,302,243$2,446,669
66$3,050,596$1,578,694$1,276,736$2,583,137
67$3,290,447$1,584,741$1,248,198$2,731,316
68$3,552,518$1,588,838$1,216,457$2,892,388
69$3,839,002$1,590,818$1,181,336$3,067,656
70$4,152,318$1,590,506$1,142,648$3,258,557
71$4,495,127$1,587,713$1,100,199$3,466,677
72$4,870,359$1,582,240$1,053,786$3,693,768
73$5,281,242$1,573,876$1,003,194$3,941,762
74$5,731,329$1,562,397$948,201$4,212,791
75$6,224,535$1,547,565$888,576$4,509,208
76$6,765,168$1,529,126$824,074$4,833,608
77$7,357,977$1,506,815$754,443$5,188,855
78$8,008,190$1,480,348$679,415$5,578,110
79$8,721,564$1,449,424$598,714$6,004,858
80$9,504,444$1,413,726$512,051$6,472,947
81$10,363,815$1,372,916$419,124$6,986,618
82$11,307,375$1,326,640$319,615$7,550,554
83$12,343,601$1,274,520$213,196$8,169,918
84$13,481,833$1,216,156$99,523$8,850,405
85$14,732,359$1,151,126$0$9,598,300
86$16,106,513$1,078,985$0$10,424,020
87$17,616,782$999,259$0$11,348,947
88$19,276,921$911,450$0$12,365,629
89$21,102,086$815,030$0$13,483,431
90$23,108,973$709,441$0$14,712,676
91$25,315,979$594,095$0$16,064,747
92$27,743,372$468,368$0$17,552,192
93$30,413,481$331,603$0$19,188,842
94$33,350,910$183,106$0$20,989,949
95$36,582,767$22,143$0$22,972,324
96$40,138,921$0$0$25,154,502
97$44,052,281$0$0$27,603,764
98$48,359,108$0$0$30,306,936
99$53,099,357$0$0$33,282,291
100$58,317,051$0$0$36,557,480