Can I retire at age 56 with 1,410,000?

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 $1,410,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.9%
1 years$116,436$115,399$114,387$113,400$112,435$109,274
2 years$57,642$56,568$55,528$54,519$53,541$50,380
3 years$38,046$36,968$35,930$34,931$33,968$30,907
4 years$28,250$27,175$26,148$25,166$24,227$21,288
5 years$22,374$21,306$20,292$19,330$18,417$15,609
6 years$18,458$17,398$16,399$15,458$14,572$11,899
7 years$15,662$14,611$13,628$12,709$11,851$9,311
8 years$13,566$12,524$11,557$10,661$9,832$7,424
9 years$11,937$10,904$9,954$9,081$8,280$6,002
10 years$10,634$9,612$8,678$7,828$7,055$4,904
11 years$9,569$8,557$7,640$6,813$6,067$4,040
12 years$8,681$7,680$6,781$5,976$5,258$3,350
13 years$7,931$6,941$6,058$5,276$4,585$2,792
14 years$7,289$6,309$5,443$4,683$4,019$2,338
15 years$6,733$5,763$4,914$4,176$3,539$1,964
16 years$6,247$5,288$4,456$3,740$3,128$1,654
17 years$5,818$4,870$4,054$3,360$2,773$1,397
18 years$5,438$4,500$3,701$3,028$2,466$1,182
19 years$5,098$4,170$3,388$2,736$2,198$1,002
20 years$4,792$3,875$3,110$2,478$1,963$850
21 years$4,516$3,610$2,860$2,249$1,757$723
22 years$4,265$3,370$2,636$2,045$1,575$615
23 years$4,037$3,151$2,434$1,862$1,414$523
24 years$3,827$2,953$2,251$1,698$1,270$446
25 years$3,635$2,771$2,085$1,551$1,143$380
26 years$3,458$2,604$1,934$1,418$1,030$324
27 years$3,294$2,451$1,796$1,298$928$277
28 years$3,143$2,309$1,669$1,189$838$236
29 years$3,002$2,179$1,553$1,091$756$202
30 years$2,870$2,058$1,447$1,001$684$172
31 years$2,747$1,945$1,349$919$618$147
32 years$2,633$1,840$1,259$845$559$126
33 years$2,525$1,743$1,175$777$506$107
34 years$2,424$1,652$1,098$715$458$92
35 years$2,329$1,567$1,026$658$415$78
36 years$2,239$1,487$960$606$376$67
37 years$2,155$1,412$899$558$341$57
38 years$2,075$1,342$842$515$309$49
39 years$1,999$1,276$789$475$280$42
40 years$1,928$1,214$739$438$254$36
41 years$1,860$1,156$693$404$230$31
42 years$1,795$1,101$650$373$209$26
43 years$1,734$1,049$610$344$190$22
44 years$1,675$1,000$573$318$172$19
45 years$1,620$953$538$293$156$16
46 years$1,566$910$505$271$142$14
47 years$1,516$868$474$250$129$12
48 years$1,467$829$446$231$117$10
49 years$1,421$791$419$214$106$9
50 years$1,377$756$394$198$97$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $1,410,000, adding $2,781 every year, while hoping to spend $52,203 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: 56/26/18 Blend
55$1,410,000$1,410,000$1,410,000$1,410,000
56$1,556,689$1,481,959$1,460,104$1,636,258
57$1,659,927$1,499,031$1,453,473$1,707,825
58$1,771,947$1,515,190$1,444,872$1,779,894
59$1,893,587$1,530,337$1,434,177$1,857,239
60$2,025,774$1,544,364$1,421,262$1,940,379
61$2,169,523$1,557,158$1,405,995$2,029,884
62$2,325,954$1,568,598$1,388,235$2,126,388
63$2,496,297$1,578,556$1,367,837$2,230,586
64$2,681,909$1,586,894$1,344,649$2,343,251
65$2,884,278$1,593,467$1,318,510$2,465,233
66$3,105,048$1,598,119$1,289,253$2,597,470
67$3,346,022$1,600,687$1,256,703$2,741,001
68$3,609,191$1,600,995$1,220,676$2,896,970
69$3,896,741$1,598,857$1,180,982$3,066,643
70$4,211,083$1,594,075$1,137,419$3,251,414
71$4,554,870$1,586,441$1,089,779$3,452,826
72$4,931,022$1,575,732$1,037,842$3,672,579
73$5,342,755$1,561,712$981,379$3,912,552
74$5,793,611$1,544,131$920,150$4,174,817
75$6,287,491$1,522,725$853,906$4,461,663
76$6,828,688$1,497,211$782,386$4,775,615
77$7,421,934$1,467,294$705,315$5,119,461
78$8,072,437$1,432,658$622,409$5,496,277
79$8,785,936$1,392,968$533,370$5,909,458
80$9,568,751$1,347,873$437,887$6,362,748
81$10,427,841$1,296,997$335,634$6,860,283
82$11,370,876$1,239,944$226,273$7,406,624
83$12,406,302$1,176,298$109,449$8,006,802
84$13,543,422$1,105,614$0$8,666,371
85$14,792,486$1,027,424$0$9,394,380
86$16,164,786$941,234$0$10,217,287
87$17,672,759$846,519$0$11,121,581
88$19,330,109$742,727$0$12,115,568
89$21,151,932$629,273$0$13,208,404
90$23,154,862$505,540$0$14,410,185
91$25,357,221$370,875$0$15,732,040
92$27,779,199$224,589$0$17,186,240
93$30,443,038$65,955$0$18,786,312
94$33,373,245$0$0$20,547,169
95$36,596,821$0$0$22,515,522
96$40,143,516$0$0$24,702,082
97$44,046,110$0$0$27,108,205
98$48,340,718$0$0$29,756,178
99$53,067,137$0$0$32,670,556
100$58,269,214$0$0$35,878,397