Can I retire at age 56 with 1,390,000?

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 $1,390,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.9%
1 years$114,785$113,762$112,765$111,791$110,841$108,161
2 years$56,824$55,766$54,740$53,746$52,781$50,098
3 years$37,507$36,444$35,421$34,435$33,487$30,883
4 years$27,850$26,790$25,777$24,809$23,883$21,379
5 years$22,057$21,004$20,004$19,056$18,155$15,759
6 years$18,196$17,151$16,166$15,239$14,366$12,078
7 years$15,440$14,403$13,434$12,529$11,683$9,506
8 years$13,374$12,346$11,393$10,510$9,692$7,623
9 years$11,767$10,750$9,813$8,952$8,162$6,201
10 years$10,483$9,475$8,555$7,717$6,955$5,098
11 years$9,433$8,435$7,532$6,716$5,981$4,227
12 years$8,558$7,571$6,684$5,891$5,183$3,528
13 years$7,819$6,842$5,972$5,201$4,520$2,960
14 years$7,186$6,219$5,366$4,617$3,962$2,495
15 years$6,637$5,681$4,845$4,117$3,489$2,111
16 years$6,158$5,213$4,392$3,687$3,083$1,791
17 years$5,736$4,801$3,997$3,312$2,734$1,524
18 years$5,361$4,436$3,649$2,985$2,431$1,299
19 years$5,025$4,111$3,340$2,697$2,167$1,109
20 years$4,724$3,820$3,065$2,443$1,935$949
21 years$4,452$3,559$2,820$2,217$1,732$812
22 years$4,205$3,322$2,599$2,016$1,552$696
23 years$3,979$3,107$2,399$1,836$1,393$598
24 years$3,773$2,911$2,219$1,674$1,252$513
25 years$3,584$2,732$2,055$1,529$1,127$441
26 years$3,409$2,567$1,906$1,398$1,015$379
27 years$3,248$2,416$1,770$1,280$915$326
28 years$3,098$2,277$1,646$1,173$826$281
29 years$2,959$2,148$1,531$1,075$746$242
30 years$2,829$2,028$1,426$987$674$208
31 years$2,709$1,918$1,330$906$609$179
32 years$2,595$1,814$1,241$833$551$154
33 years$2,489$1,718$1,158$766$499$133
34 years$2,390$1,628$1,082$705$452$115
35 years$2,296$1,545$1,012$649$409$99
36 years$2,208$1,466$947$597$371$85
37 years$2,124$1,392$886$551$336$73
38 years$2,046$1,323$830$507$304$63
39 years$1,971$1,258$777$468$276$55
40 years$1,900$1,197$729$432$250$47
41 years$1,833$1,140$683$398$227$41
42 years$1,770$1,085$641$367$206$35
43 years$1,709$1,034$601$339$187$30
44 years$1,652$986$565$313$170$26
45 years$1,597$940$530$289$154$23
46 years$1,544$897$498$267$140$19
47 years$1,494$856$468$247$127$17
48 years$1,447$817$440$228$115$14
49 years$1,401$780$413$211$105$12
50 years$1,357$745$388$195$95$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $1,390,000, adding $2,417 every year, while hoping to spend $26,275 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: 70/12/18 Blend
55$1,390,000$1,390,000$1,390,000$1,390,000
56$1,534,273$1,460,603$1,439,058$1,634,899
57$1,662,813$1,504,216$1,459,310$1,745,849
58$1,803,582$1,549,086$1,479,360$1,863,890
59$1,957,802$1,595,246$1,499,173$1,992,428
60$2,126,816$1,642,730$1,518,713$2,132,495
61$2,312,102$1,691,575$1,537,941$2,285,231
62$2,515,291$1,741,817$1,556,816$2,451,890
63$2,738,177$1,793,492$1,575,296$2,633,852
64$2,982,736$1,846,638$1,593,333$2,832,639
65$3,251,146$1,901,294$1,610,881$3,049,926
66$3,545,805$1,957,500$1,627,888$3,287,559
67$3,869,355$2,015,295$1,644,300$3,547,571
68$4,224,707$2,074,722$1,660,061$3,832,202
69$4,615,065$2,135,822$1,675,112$4,143,919
70$5,043,963$2,198,639$1,689,389$4,485,441
71$5,515,290$2,263,215$1,702,827$4,859,761
72$6,033,334$2,329,596$1,715,355$5,270,179
73$6,602,815$2,397,828$1,726,901$5,720,331
74$7,228,937$2,467,956$1,737,387$6,214,221
75$7,917,432$2,540,029$1,746,733$6,756,261
76$8,674,614$2,614,094$1,754,852$7,351,313
77$9,507,441$2,690,201$1,761,656$8,004,734
78$10,423,579$2,768,400$1,767,051$8,722,426
79$11,431,474$2,848,742$1,770,937$9,510,894
80$12,540,432$2,931,278$1,773,211$10,377,302
81$13,760,706$3,016,061$1,773,764$11,329,547
82$15,103,595$3,103,145$1,772,482$12,376,329
83$16,581,546$3,192,583$1,769,245$13,527,236
84$18,208,276$3,284,432$1,763,926$14,792,833
85$19,998,898$3,378,747$1,756,396$16,184,759
86$21,970,065$3,475,585$1,746,514$17,715,844
87$24,140,126$3,575,003$1,734,137$19,400,221
88$26,529,300$3,677,059$1,719,112$21,253,468
89$29,159,867$3,781,814$1,701,280$23,292,749
90$32,056,376$3,889,325$1,680,475$25,536,977
91$35,245,878$3,999,654$1,656,523$28,006,995
92$38,758,181$4,112,861$1,629,241$30,725,772
93$42,626,133$4,229,007$1,598,437$33,718,617
94$46,885,925$4,348,156$1,563,912$37,013,420
95$51,577,442$4,470,368$1,525,455$40,640,918
96$56,744,632$4,595,707$1,482,849$44,634,978
97$62,435,924$4,724,236$1,435,864$49,032,925
98$68,704,683$4,856,018$1,384,259$53,875,888
99$75,609,714$4,991,116$1,327,786$59,209,191
100$83,215,819$5,129,595$1,266,181$65,082,781