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

Use the below retirement simulation to view the chances of a successful retirement.
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%13%
1 years$116,436$115,399$114,387$113,400$112,435$111,030
2 years$57,642$56,568$55,528$54,519$53,541$52,127
3 years$38,046$36,968$35,930$34,931$33,968$32,590
4 years$28,250$27,175$26,148$25,166$24,227$22,894
5 years$22,374$21,306$20,292$19,330$18,417$17,134
6 years$18,458$17,398$16,399$15,458$14,572$13,341
7 years$15,662$14,611$13,628$12,709$11,851$10,671
8 years$13,566$12,524$11,557$10,661$9,832$8,703
9 years$11,937$10,904$9,954$9,081$8,280$7,202
10 years$10,634$9,612$8,678$7,828$7,055$6,028
11 years$9,569$8,557$7,640$6,813$6,067$5,090
12 years$8,681$7,680$6,781$5,976$5,258$4,329
13 years$7,931$6,941$6,058$5,276$4,585$3,703
14 years$7,289$6,309$5,443$4,683$4,019$3,183
15 years$6,733$5,763$4,914$4,176$3,539$2,747
16 years$6,247$5,288$4,456$3,740$3,128$2,379
17 years$5,818$4,870$4,054$3,360$2,773$2,066
18 years$5,438$4,500$3,701$3,028$2,466$1,799
19 years$5,098$4,170$3,388$2,736$2,198$1,569
20 years$4,792$3,875$3,110$2,478$1,963$1,372
21 years$4,516$3,610$2,860$2,249$1,757$1,201
22 years$4,265$3,370$2,636$2,045$1,575$1,053
23 years$4,037$3,151$2,434$1,862$1,414$924
24 years$3,827$2,953$2,251$1,698$1,270$811
25 years$3,635$2,771$2,085$1,551$1,143$713
26 years$3,458$2,604$1,934$1,418$1,030$628
27 years$3,294$2,451$1,796$1,298$928$553
28 years$3,143$2,309$1,669$1,189$838$487
29 years$3,002$2,179$1,553$1,091$756$429
30 years$2,870$2,058$1,447$1,001$684$379
31 years$2,747$1,945$1,349$919$618$334
32 years$2,633$1,840$1,259$845$559$295
33 years$2,525$1,743$1,175$777$506$260
34 years$2,424$1,652$1,098$715$458$230
35 years$2,329$1,567$1,026$658$415$203
36 years$2,239$1,487$960$606$376$179
37 years$2,155$1,412$899$558$341$159
38 years$2,075$1,342$842$515$309$140
39 years$1,999$1,276$789$475$280$124
40 years$1,928$1,214$739$438$254$110
41 years$1,860$1,156$693$404$230$97
42 years$1,795$1,101$650$373$209$86
43 years$1,734$1,049$610$344$190$76
44 years$1,675$1,000$573$318$172$67
45 years$1,620$953$538$293$156$59
46 years$1,566$910$505$271$142$52
47 years$1,516$868$474$250$129$46
48 years$1,467$829$446$231$117$41
49 years$1,421$791$419$214$106$36
50 years$1,377$756$394$198$97$32

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 $4,631 every year, while hoping to spend $26,006 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: 26/47/27 Blend
55$1,410,000$1,410,000$1,410,000$1,410,000
56$1,558,597$1,483,867$1,462,012$1,585,847
57$1,689,904$1,528,906$1,483,319$1,653,522
58$1,833,732$1,575,281$1,504,468$1,723,548
59$1,991,332$1,623,029$1,525,427$1,798,146
60$2,164,079$1,672,189$1,546,161$1,877,719
61$2,353,491$1,722,801$1,566,632$1,962,711
62$2,561,235$1,774,907$1,586,803$2,053,610
63$2,789,152$1,828,548$1,606,632$2,150,952
64$3,039,266$1,883,768$1,626,074$2,255,327
65$3,313,809$1,940,610$1,645,086$2,367,382
66$3,615,238$1,999,121$1,663,617$2,487,832
67$3,946,261$2,059,346$1,681,616$2,617,459
68$4,309,859$2,121,334$1,699,031$2,757,129
69$4,709,319$2,185,133$1,715,802$2,907,789
70$5,148,259$2,250,794$1,731,871$3,070,484
71$5,630,666$2,318,368$1,747,173$3,246,366
72$6,160,933$2,387,907$1,761,643$3,436,700
73$6,743,900$2,459,466$1,775,210$3,642,879
74$7,384,898$2,533,100$1,787,799$3,866,438
75$8,089,800$2,608,865$1,799,333$4,109,067
76$8,865,080$2,686,819$1,809,731$4,372,624
77$9,717,867$2,767,022$1,818,905$4,659,159
78$10,656,017$2,849,534$1,826,767$4,970,928
79$11,688,187$2,934,417$1,833,220$5,310,414
80$12,823,914$3,021,736$1,838,164$5,680,353
81$14,073,706$3,111,554$1,841,496$6,083,761
82$15,449,142$3,203,938$1,843,104$6,523,955
83$16,962,980$3,298,956$1,842,874$7,004,594
84$18,629,278$3,396,679$1,840,683$7,529,704
85$20,463,524$3,497,176$1,836,406$8,103,725
86$22,482,786$3,600,520$1,829,908$8,731,544
87$24,705,870$3,706,786$1,821,050$9,418,548
88$27,153,499$3,816,048$1,809,686$10,170,671
89$29,848,506$3,928,385$1,795,660$10,994,450
90$32,816,053$4,043,875$1,778,814$11,897,088
91$36,083,863$4,162,598$1,758,978$12,886,522
92$39,682,489$4,284,637$1,735,975$13,971,497
93$43,645,593$4,410,075$1,709,621$15,161,648
94$48,010,273$4,538,997$1,679,722$16,467,591
95$52,817,403$4,671,491$1,646,075$17,901,025
96$58,112,029$4,807,644$1,608,469$19,474,841
97$63,943,784$4,947,548$1,566,682$21,203,243
98$70,367,366$5,091,292$1,520,481$23,101,882
99$77,443,043$5,238,972$1,469,623$25,188,007
100$85,237,234$5,390,682$1,413,856$27,480,622