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%15.4%
1 years$114,785$113,762$112,765$111,791$110,841$108,381
2 years$56,824$55,766$54,740$53,746$52,781$50,316
3 years$37,507$36,444$35,421$34,435$33,487$31,093
4 years$27,850$26,790$25,777$24,809$23,883$21,579
5 years$22,057$21,004$20,004$19,056$18,155$15,948
6 years$18,196$17,151$16,166$15,239$14,366$12,257
7 years$15,440$14,403$13,434$12,529$11,683$9,673
8 years$13,374$12,346$11,393$10,510$9,692$7,781
9 years$11,767$10,750$9,813$8,952$8,162$6,347
10 years$10,483$9,475$8,555$7,717$6,955$5,235
11 years$9,433$8,435$7,532$6,716$5,981$4,354
12 years$8,558$7,571$6,684$5,891$5,183$3,646
13 years$7,819$6,842$5,972$5,201$4,520$3,070
14 years$7,186$6,219$5,366$4,617$3,962$2,596
15 years$6,637$5,681$4,845$4,117$3,489$2,204
16 years$6,158$5,213$4,392$3,687$3,083$1,877
17 years$5,736$4,801$3,997$3,312$2,734$1,602
18 years$5,361$4,436$3,649$2,985$2,431$1,371
19 years$5,025$4,111$3,340$2,697$2,167$1,175
20 years$4,724$3,820$3,065$2,443$1,935$1,009
21 years$4,452$3,559$2,820$2,217$1,732$867
22 years$4,205$3,322$2,599$2,016$1,552$746
23 years$3,979$3,107$2,399$1,836$1,393$643
24 years$3,773$2,911$2,219$1,674$1,252$554
25 years$3,584$2,732$2,055$1,529$1,127$478
26 years$3,409$2,567$1,906$1,398$1,015$413
27 years$3,248$2,416$1,770$1,280$915$357
28 years$3,098$2,277$1,646$1,173$826$308
29 years$2,959$2,148$1,531$1,075$746$266
30 years$2,829$2,028$1,426$987$674$230
31 years$2,709$1,918$1,330$906$609$199
32 years$2,595$1,814$1,241$833$551$172
33 years$2,489$1,718$1,158$766$499$149
34 years$2,390$1,628$1,082$705$452$129
35 years$2,296$1,545$1,012$649$409$112
36 years$2,208$1,466$947$597$371$97
37 years$2,124$1,392$886$551$336$84
38 years$2,046$1,323$830$507$304$73
39 years$1,971$1,258$777$468$276$63
40 years$1,900$1,197$729$432$250$54
41 years$1,833$1,140$683$398$227$47
42 years$1,770$1,085$641$367$206$41
43 years$1,709$1,034$601$339$187$35
44 years$1,652$986$565$313$170$31
45 years$1,597$940$530$289$154$27
46 years$1,544$897$498$267$140$23
47 years$1,494$856$468$247$127$20
48 years$1,447$817$440$228$115$17
49 years$1,401$780$413$211$105$15
50 years$1,357$745$388$195$95$13

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 $2,133 every year, while hoping to spend $57,975 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: 61/30/9 Blend
55$1,390,000$1,390,000$1,390,000$1,390,000
56$1,533,980$1,460,310$1,438,765$1,624,383
57$1,628,761$1,470,180$1,425,279$1,695,055
58$1,731,267$1,478,591$1,409,398$1,765,286
59$1,842,224$1,485,410$1,390,980$1,840,466
60$1,962,431$1,490,495$1,369,878$1,921,075
61$2,092,767$1,493,697$1,345,937$2,007,640
62$2,234,197$1,494,856$1,318,994$2,100,747
63$2,387,784$1,493,803$1,288,879$2,201,040
64$2,554,696$1,490,358$1,255,415$2,309,232
65$2,736,220$1,484,330$1,218,416$2,426,111
66$2,933,768$1,475,516$1,177,687$2,552,544
67$3,148,898$1,463,702$1,133,025$2,689,491
68$3,383,321$1,448,659$1,084,217$2,838,013
69$3,638,923$1,430,146$1,031,041$2,999,280
70$3,917,776$1,407,907$973,264$3,174,583
71$4,222,165$1,381,670$910,644$3,365,351
72$4,554,602$1,351,148$842,927$3,573,157
73$4,917,853$1,316,036$769,847$3,799,742
74$5,314,964$1,276,012$691,127$4,047,025
75$5,749,289$1,230,735$606,478$4,317,128
76$6,224,519$1,179,844$515,598$4,612,390
77$6,744,720$1,122,956$418,170$4,935,395
78$7,314,368$1,059,668$313,865$5,288,994
79$7,938,394$989,551$202,340$5,676,335
80$8,622,226$912,155$83,234$6,100,892
81$9,371,843$827,001$0$6,566,500
82$10,193,831$733,584$0$7,081,604
83$11,095,443$631,371$0$7,655,464
84$12,084,667$519,797$0$8,285,271
85$13,170,303$398,267$0$8,976,753
86$14,362,043$266,151$0$9,736,227
87$15,670,565$122,785$0$10,570,662
88$17,107,628$0$0$11,487,742
89$18,686,191$0$0$12,506,683
90$20,420,524$0$0$13,670,819
91$22,326,352$0$0$14,950,182
92$24,420,998$0$0$16,356,416
93$26,723,543$0$0$17,902,348
94$29,255,014$0$0$19,602,108
95$32,038,574$0$0$21,471,266
96$35,099,742$0$0$23,526,975
97$38,466,637$0$0$25,788,134
98$42,170,237$0$0$28,275,566
99$46,244,673$0$0$31,012,212
100$50,727,554$0$0$34,023,351