Can I retire at age 56 with 1,430,000?

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 $1,430,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12%
1 years$118,088$117,036$116,010$115,008$114,030$113,075
2 years$58,459$57,371$56,316$55,292$54,300$53,337
3 years$38,586$37,492$36,440$35,426$34,450$33,510
4 years$28,651$27,561$26,519$25,523$24,570$23,659
5 years$22,692$21,608$20,580$19,604$18,678$17,799
6 years$18,720$17,645$16,631$15,677$14,779$13,934
7 years$15,884$14,818$13,821$12,889$12,019$11,208
8 years$13,758$12,702$11,721$10,812$9,971$9,193
9 years$12,106$11,059$10,095$9,210$8,397$7,653
10 years$10,785$9,748$8,801$7,939$7,155$6,443
11 years$9,704$8,678$7,749$6,909$6,153$5,475
12 years$8,805$7,789$6,877$6,060$5,332$4,685
13 years$8,044$7,039$6,144$5,350$4,650$4,034
14 years$7,393$6,398$5,520$4,749$4,076$3,491
15 years$6,828$5,845$4,984$4,236$3,589$3,033
16 years$6,335$5,363$4,519$3,793$3,172$2,645
17 years$5,901$4,939$4,112$3,408$2,812$2,313
18 years$5,515$4,564$3,754$3,071$2,501$2,028
19 years$5,170$4,230$3,436$2,775$2,229$1,782
20 years$4,860$3,930$3,154$2,513$1,991$1,569
21 years$4,580$3,661$2,901$2,281$1,782$1,384
22 years$4,326$3,417$2,674$2,074$1,597$1,222
23 years$4,094$3,196$2,469$1,889$1,434$1,081
24 years$3,882$2,995$2,283$1,723$1,289$957
25 years$3,687$2,810$2,114$1,573$1,159$848
26 years$3,507$2,641$1,961$1,438$1,044$752
27 years$3,341$2,486$1,821$1,317$942$668
28 years$3,187$2,342$1,693$1,206$850$593
29 years$3,044$2,210$1,575$1,106$767$527
30 years$2,911$2,087$1,467$1,015$693$469
31 years$2,786$1,973$1,368$932$627$417
32 years$2,670$1,867$1,276$857$567$371
33 years$2,561$1,768$1,192$788$513$330
34 years$2,458$1,675$1,114$725$465$294
35 years$2,362$1,589$1,041$667$421$262
36 years$2,271$1,508$974$615$381$233
37 years$2,185$1,432$912$566$346$208
38 years$2,104$1,361$854$522$313$185
39 years$2,028$1,295$800$481$284$165
40 years$1,955$1,232$750$444$258$147
41 years$1,886$1,172$703$410$234$131
42 years$1,821$1,117$659$378$212$117
43 years$1,758$1,064$619$349$192$105
44 years$1,699$1,014$581$322$175$93
45 years$1,643$967$545$298$159$83
46 years$1,589$922$512$275$144$74
47 years$1,537$880$481$254$131$66
48 years$1,488$840$452$235$119$59
49 years$1,441$803$425$217$108$53
50 years$1,396$767$400$200$98$47

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $1,430,000, adding $6,347 every year, while hoping to spend $26,622 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: 56/33/11 Blend
55$1,430,000$1,430,000$1,430,000$1,430,000
56$1,582,407$1,506,617$1,484,452$1,666,337
57$1,715,487$1,552,116$1,505,855$1,769,331
58$1,861,249$1,598,951$1,527,084$1,877,978
59$2,020,958$1,647,162$1,548,103$1,995,687
60$2,196,008$1,696,785$1,568,877$2,123,327
61$2,387,934$1,747,861$1,589,367$2,261,854
62$2,598,426$1,800,429$1,609,534$2,412,321
63$2,829,347$1,854,531$1,629,335$2,575,887
64$3,082,747$1,910,210$1,648,724$2,753,826
65$3,360,884$1,967,508$1,667,654$2,947,543
66$3,666,249$2,026,470$1,686,074$3,158,582
67$4,001,581$2,087,142$1,703,933$3,388,646
68$4,369,900$2,149,570$1,721,172$3,639,608
69$4,774,533$2,213,801$1,737,735$3,913,529
70$5,219,144$2,279,886$1,753,557$4,212,683
71$5,707,770$2,347,874$1,768,575$4,539,569
72$6,244,858$2,417,815$1,782,718$4,896,942
73$6,835,309$2,489,763$1,795,914$5,287,837
74$7,484,520$2,563,771$1,808,086$5,715,594
75$8,198,438$2,639,893$1,819,155$6,183,893
76$8,983,617$2,718,187$1,829,035$6,696,789
77$9,847,276$2,798,708$1,837,637$7,258,746
78$10,797,369$2,881,515$1,844,869$7,874,683
79$11,842,661$2,966,669$1,850,632$8,550,017
80$12,992,806$3,054,230$1,854,822$9,290,718
81$14,258,446$3,144,260$1,857,332$10,103,361
82$15,651,302$3,236,824$1,858,048$10,995,190
83$17,184,293$3,331,986$1,856,850$11,974,184
84$18,871,650$3,429,813$1,853,614$13,049,136
85$20,729,056$3,530,372$1,848,207$14,229,733
86$22,773,791$3,633,731$1,840,494$15,526,647
87$25,024,896$3,739,962$1,830,329$16,951,636
88$27,503,351$3,849,136$1,817,561$18,517,656
89$30,232,275$3,961,326$1,802,031$20,238,980
90$33,237,142$4,076,606$1,783,574$22,131,337
91$36,546,023$4,195,052$1,762,016$24,212,056
92$40,189,848$4,316,740$1,737,174$26,500,232
93$44,202,702$4,441,750$1,708,859$29,016,903
94$48,622,141$4,570,159$1,676,869$31,785,252
95$53,489,552$4,702,050$1,640,997$34,830,823
96$58,850,540$4,837,504$1,601,024$38,181,765
97$64,755,358$4,976,604$1,556,721$41,869,092
98$71,259,382$5,119,435$1,507,849$45,926,981
99$78,423,634$5,266,083$1,454,157$50,393,090
100$86,315,358$5,416,634$1,395,384$55,308,918