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%18.3%
1 years$113,959$112,944$111,954$110,987$110,043$106,350
2 years$56,415$55,365$54,346$53,359$52,401$48,718
3 years$37,237$36,181$35,166$34,188$33,246$29,686
4 years$27,649$26,597$25,592$24,630$23,711$20,303
5 years$21,898$20,853$19,860$18,918$18,025$14,778
6 years$18,065$17,028$16,050$15,129$14,262$11,179
7 years$15,329$14,300$13,338$12,439$11,599$8,678
8 years$13,277$12,258$11,311$10,434$9,623$6,863
9 years$11,683$10,672$9,742$8,888$8,104$5,501
10 years$10,407$9,407$8,494$7,661$6,905$4,455
11 years$9,365$8,375$7,478$6,668$5,938$3,637
12 years$8,497$7,517$6,636$5,848$5,146$2,988
13 years$7,763$6,793$5,929$5,163$4,487$2,467
14 years$7,134$6,175$5,327$4,583$3,934$2,046
15 years$6,590$5,641$4,810$4,088$3,463$1,701
16 years$6,114$5,175$4,361$3,660$3,061$1,419
17 years$5,695$4,766$3,968$3,288$2,714$1,186
18 years$5,322$4,404$3,622$2,964$2,413$993
19 years$4,989$4,082$3,316$2,678$2,151$833
20 years$4,690$3,793$3,043$2,425$1,921$700
21 years$4,420$3,533$2,799$2,201$1,719$588
22 years$4,174$3,298$2,580$2,001$1,541$495
23 years$3,951$3,084$2,382$1,823$1,383$417
24 years$3,746$2,890$2,203$1,662$1,243$351
25 years$3,558$2,712$2,041$1,518$1,119$296
26 years$3,384$2,549$1,893$1,388$1,008$250
27 years$3,224$2,399$1,757$1,271$909$211
28 years$3,076$2,260$1,634$1,164$820$178
29 years$2,938$2,132$1,520$1,068$740$150
30 years$2,809$2,014$1,416$980$669$127
31 years$2,689$1,904$1,320$900$605$107
32 years$2,577$1,801$1,232$827$547$90
33 years$2,471$1,706$1,150$760$495$76
34 years$2,372$1,617$1,075$700$448$64
35 years$2,279$1,533$1,005$644$406$54
36 years$2,192$1,455$940$593$368$46
37 years$2,109$1,382$880$547$333$39
38 years$2,031$1,314$824$504$302$33
39 years$1,957$1,249$772$464$274$28
40 years$1,887$1,189$723$428$249$23
41 years$1,820$1,131$678$395$226$20
42 years$1,757$1,078$636$365$205$17
43 years$1,697$1,027$597$337$186$14
44 years$1,640$979$560$311$169$12
45 years$1,585$933$526$287$153$10
46 years$1,533$890$494$265$139$9
47 years$1,484$850$464$245$126$7
48 years$1,436$811$436$226$115$6
49 years$1,391$774$410$209$104$5
50 years$1,347$740$386$193$95$4

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 $4,835 every year, while hoping to spend $59,795 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: 63/30/7 Blend
55$1,380,000$1,380,000$1,380,000$1,380,000
56$1,525,747$1,452,607$1,431,217$1,619,537
57$1,617,752$1,460,164$1,415,542$1,690,234
58$1,717,137$1,466,086$1,397,337$1,759,943
59$1,824,593$1,470,232$1,376,455$1,834,507
60$1,940,876$1,472,448$1,352,741$1,914,393
61$2,066,821$1,472,573$1,326,033$2,000,118
62$2,203,343$1,470,436$1,296,162$2,092,251
63$2,351,451$1,465,854$1,262,950$2,191,421
64$2,512,251$1,458,634$1,226,212$2,298,325
65$2,686,964$1,448,569$1,185,752$2,413,729
66$2,876,928$1,435,443$1,141,369$2,538,481
67$3,083,619$1,419,025$1,092,850$2,673,517
68$3,308,661$1,399,069$1,039,972$2,819,870
69$3,553,837$1,375,316$982,504$2,978,683
70$3,821,114$1,347,492$920,204$3,151,216
71$4,112,654$1,315,306$852,817$3,338,860
72$4,430,837$1,278,448$780,078$3,543,152
73$4,778,284$1,236,593$701,712$3,765,789
74$5,157,878$1,189,396$617,429$4,008,643
75$5,572,796$1,136,490$526,927$4,273,783
76$6,026,533$1,077,490$429,891$4,563,492
77$6,522,938$1,011,986$325,992$4,880,289
78$7,066,250$939,546$214,885$5,226,958
79$7,661,137$859,713$96,212$5,606,567
80$8,312,737$772,003$0$6,022,507
81$9,026,710$675,905$0$6,480,791
82$9,809,289$570,879$0$6,991,091
83$10,667,341$456,356$0$7,550,800
84$11,608,425$331,733$0$8,164,978
85$12,640,869$196,373$0$8,839,207
86$13,773,847$49,604$0$9,579,643
87$15,017,462$0$0$10,393,078
88$16,382,845$0$0$11,323,079
89$17,882,255$0$0$12,362,457
90$19,529,198$0$0$13,504,211
91$21,338,552$0$0$14,758,668
92$23,326,708$0$0$16,137,206
93$25,511,722$0$0$17,652,360
94$27,913,487$0$0$19,317,938
95$30,553,918$0$0$21,149,153
96$33,457,161$0$0$23,162,767
97$36,649,817$0$0$25,377,247
98$40,161,194$0$0$27,812,937
99$44,023,584$0$0$30,492,255
100$48,272,566$0$0$33,439,899