Can I retire at age 56 with 1,380,000?

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 $1,380,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.6%
1 years$113,959$112,944$111,954$110,987$110,043$106,649
2 years$56,415$55,365$54,346$53,359$52,401$49,011
3 years$37,237$36,181$35,166$34,188$33,246$29,966
4 years$27,649$26,597$25,592$24,630$23,711$20,567
5 years$21,898$20,853$19,860$18,918$18,025$15,025
6 years$18,065$17,028$16,050$15,129$14,262$11,410
7 years$15,329$14,300$13,338$12,439$11,599$8,893
8 years$13,277$12,258$11,311$10,434$9,623$7,061
9 years$11,683$10,672$9,742$8,888$8,104$5,685
10 years$10,407$9,407$8,494$7,661$6,905$4,624
11 years$9,365$8,375$7,478$6,668$5,938$3,792
12 years$8,497$7,517$6,636$5,848$5,146$3,130
13 years$7,763$6,793$5,929$5,163$4,487$2,597
14 years$7,134$6,175$5,327$4,583$3,934$2,163
15 years$6,590$5,641$4,810$4,088$3,463$1,808
16 years$6,114$5,175$4,361$3,660$3,061$1,516
17 years$5,695$4,766$3,968$3,288$2,714$1,274
18 years$5,322$4,404$3,622$2,964$2,413$1,072
19 years$4,989$4,082$3,316$2,678$2,151$904
20 years$4,690$3,793$3,043$2,425$1,921$763
21 years$4,420$3,533$2,799$2,201$1,719$645
22 years$4,174$3,298$2,580$2,001$1,541$546
23 years$3,951$3,084$2,382$1,823$1,383$462
24 years$3,746$2,890$2,203$1,662$1,243$391
25 years$3,558$2,712$2,041$1,518$1,119$332
26 years$3,384$2,549$1,893$1,388$1,008$281
27 years$3,224$2,399$1,757$1,271$909$239
28 years$3,076$2,260$1,634$1,164$820$203
29 years$2,938$2,132$1,520$1,068$740$172
30 years$2,809$2,014$1,416$980$669$146
31 years$2,689$1,904$1,320$900$605$124
32 years$2,577$1,801$1,232$827$547$105
33 years$2,471$1,706$1,150$760$495$90
34 years$2,372$1,617$1,075$700$448$76
35 years$2,279$1,533$1,005$644$406$65
36 years$2,192$1,455$940$593$368$55
37 years$2,109$1,382$880$547$333$47
38 years$2,031$1,314$824$504$302$40
39 years$1,957$1,249$772$464$274$34
40 years$1,887$1,189$723$428$249$29
41 years$1,820$1,131$678$395$226$24
42 years$1,757$1,078$636$365$205$21
43 years$1,697$1,027$597$337$186$18
44 years$1,640$979$560$311$169$15
45 years$1,585$933$526$287$153$13
46 years$1,533$890$494$265$139$11
47 years$1,484$850$464$245$126$9
48 years$1,436$811$436$226$115$8
49 years$1,391$774$410$209$104$7
50 years$1,347$740$386$193$95$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $1,380,000, adding $2,212 every year, while hoping to spend $37,216 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: 54/25/21 Blend
55$1,380,000$1,380,000$1,380,000$1,380,000
56$1,523,042$1,449,902$1,428,512$1,596,436
57$1,638,794$1,481,349$1,436,769$1,678,472
58$1,765,107$1,513,091$1,444,056$1,763,636
59$1,903,016$1,545,101$1,450,301$1,855,548
60$2,053,665$1,577,352$1,455,427$1,954,866
61$2,218,311$1,609,815$1,459,356$2,062,312
62$2,398,339$1,642,456$1,462,005$2,178,683
63$2,595,274$1,675,240$1,463,286$2,304,858
64$2,810,793$1,708,128$1,463,108$2,441,808
65$3,046,746$1,741,078$1,461,373$2,590,598
66$3,305,167$1,774,044$1,457,982$2,752,408
67$3,588,298$1,806,976$1,452,829$2,928,534
68$3,898,608$1,839,821$1,445,802$3,120,408
69$4,238,814$1,872,521$1,436,785$3,329,607
70$4,611,913$1,905,014$1,425,657$3,557,871
71$5,021,200$1,937,232$1,412,288$3,807,117
72$5,470,309$1,969,103$1,396,547$4,079,458
73$5,963,242$2,000,550$1,378,292$4,377,224
74$6,504,404$2,031,489$1,357,377$4,702,986
75$7,098,652$2,061,831$1,333,648$5,059,575
76$7,751,333$2,091,479$1,306,944$5,450,115
77$8,468,340$2,120,332$1,277,097$5,878,047
78$9,256,161$2,148,279$1,243,930$6,347,167
79$10,121,949$2,175,204$1,207,261$6,861,660
80$11,073,578$2,200,980$1,166,895$7,426,138
81$12,119,728$2,225,473$1,122,631$8,045,687
82$13,269,961$2,248,541$1,074,259$8,725,914
83$14,534,808$2,270,031$1,021,558$9,472,998
84$15,925,876$2,289,780$964,298$10,293,754
85$17,455,951$2,307,615$902,238$11,195,694
86$19,139,122$2,323,351$835,126$12,187,097
87$20,990,909$2,336,793$762,700$13,277,093
88$23,028,417$2,347,731$684,685$14,475,745
89$25,270,488$2,355,942$600,795$15,794,145
90$27,737,885$2,361,190$510,728$17,244,523
91$30,453,485$2,363,225$414,174$18,840,358
92$33,442,496$2,361,779$310,805$20,596,512
93$36,732,694$2,356,568$200,279$22,529,363
94$40,354,682$2,347,293$82,242$24,656,968
95$44,342,183$2,333,634$0$26,999,231
96$48,732,356$2,315,253$0$29,587,889
97$53,566,145$2,291,789$0$32,457,630
98$58,888,668$2,262,864$0$35,616,756
99$64,749,641$2,228,072$0$39,094,745
100$71,203,843$2,186,987$0$42,924,083