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

Use the below retirement simulation to view the chances of a successful retirement.
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%15.6%
1 years$113,133$112,126$111,142$110,183$109,246$106,735
2 years$56,007$54,964$53,953$52,972$52,022$49,506
3 years$36,967$35,919$34,911$33,940$33,005$30,563
4 years$27,449$26,404$25,406$24,452$23,539$21,190
5 years$21,740$20,701$19,716$18,781$17,894$15,644
6 years$17,935$16,904$15,934$15,020$14,159$12,010
7 years$15,218$14,196$13,241$12,348$11,515$9,468
8 years$13,181$12,169$11,229$10,359$9,553$7,606
9 years$11,598$10,595$9,672$8,823$8,045$6,198
10 years$10,332$9,339$8,432$7,606$6,855$5,105
11 years$9,297$8,314$7,424$6,619$5,895$4,241
12 years$8,435$7,462$6,588$5,806$5,109$3,546
13 years$7,706$6,744$5,886$5,126$4,455$2,982
14 years$7,082$6,130$5,289$4,550$3,905$2,519
15 years$6,542$5,600$4,775$4,058$3,438$2,135
16 years$6,070$5,138$4,329$3,633$3,039$1,816
17 years$5,653$4,732$3,939$3,265$2,694$1,548
18 years$5,284$4,372$3,596$2,942$2,396$1,322
19 years$4,953$4,052$3,292$2,658$2,135$1,132
20 years$4,656$3,765$3,021$2,408$1,907$970
21 years$4,388$3,507$2,779$2,185$1,707$833
22 years$4,144$3,274$2,561$1,987$1,530$716
23 years$3,922$3,062$2,365$1,809$1,373$615
24 years$3,719$2,869$2,187$1,650$1,234$530
25 years$3,532$2,692$2,026$1,507$1,111$456
26 years$3,360$2,530$1,879$1,378$1,001$393
27 years$3,201$2,381$1,745$1,261$902$339
28 years$3,053$2,244$1,622$1,156$814$293
29 years$2,916$2,117$1,509$1,060$735$252
30 years$2,789$1,999$1,406$973$664$218
31 years$2,670$1,890$1,311$893$600$188
32 years$2,558$1,788$1,223$821$543$163
33 years$2,453$1,693$1,142$755$492$140
34 years$2,355$1,605$1,067$695$445$121
35 years$2,263$1,522$997$639$403$105
36 years$2,176$1,445$933$589$365$91
37 years$2,094$1,372$873$543$331$78
38 years$2,016$1,304$818$500$300$68
39 years$1,943$1,240$766$461$272$59
40 years$1,873$1,180$718$425$247$51
41 years$1,807$1,123$673$392$224$44
42 years$1,744$1,070$632$362$203$38
43 years$1,685$1,019$593$334$184$33
44 years$1,628$972$556$309$167$28
45 years$1,574$926$522$285$152$24
46 years$1,522$884$491$263$138$21
47 years$1,473$843$461$243$125$18
48 years$1,426$805$433$225$114$16
49 years$1,381$769$407$208$103$14
50 years$1,338$734$383$192$94$12

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 $5,698 every year, while hoping to spend $47,648 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: 62/24/14 Blend
55$1,370,000$1,370,000$1,370,000$1,370,000
56$1,515,617$1,443,007$1,421,772$1,604,070
57$1,619,513$1,463,018$1,418,705$1,684,158
58$1,732,410$1,482,412$1,413,937$1,765,613
59$1,855,174$1,501,108$1,407,363$1,853,378
60$1,988,761$1,519,022$1,398,869$1,948,067
61$2,134,222$1,536,061$1,388,338$2,050,357
62$2,292,712$1,552,127$1,375,646$2,160,996
63$2,465,502$1,567,115$1,360,665$2,280,808
64$2,653,994$1,580,915$1,343,257$2,410,702
65$2,859,728$1,593,406$1,323,283$2,551,680
66$3,084,400$1,604,463$1,300,593$2,704,848
67$3,329,877$1,613,950$1,275,031$2,871,427
68$3,598,216$1,621,724$1,246,436$3,052,759
69$3,891,678$1,627,633$1,214,636$3,250,331
70$4,212,757$1,631,515$1,179,454$3,465,776
71$4,564,196$1,633,197$1,140,703$3,700,900
72$4,949,017$1,632,496$1,098,189$3,957,694
73$5,370,546$1,629,218$1,051,708$4,238,351
74$5,832,448$1,623,156$1,001,047$4,545,294
75$6,338,759$1,614,092$945,983$4,881,192
76$6,893,922$1,601,793$886,283$5,248,990
77$7,502,833$1,586,012$821,705$5,651,935
78$8,170,884$1,566,488$751,994$6,093,609
79$8,904,013$1,542,945$676,885$6,577,961
80$9,708,762$1,515,088$596,100$7,109,347
81$10,592,336$1,482,608$509,349$7,692,571
82$11,562,672$1,445,174$416,331$8,332,929
83$12,628,516$1,402,439$316,729$9,036,262
84$13,799,499$1,354,033$210,214$9,809,010
85$15,086,233$1,299,565$96,441$10,658,278
86$16,500,407$1,238,623$0$11,591,895
87$18,054,903$1,170,769$0$12,622,229
88$19,763,907$1,095,541$0$13,770,686
89$21,643,053$1,012,450$0$15,033,404
90$23,709,564$920,979$0$16,422,018
91$25,982,414$820,582$0$17,949,355
92$28,482,512$710,682$0$19,629,556
93$31,232,891$590,668$0$21,478,202
94$34,258,931$459,896$0$23,512,474
95$37,588,596$317,685$0$25,751,304
96$41,252,698$163,317$0$28,215,564
97$45,285,185$0$0$30,928,257
98$49,723,464$0$0$33,915,786
99$54,608,752$0$0$37,251,807
100$59,986,465$0$0$40,924,214