Can I retire at age 56 with 1,440,000?

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 $1,440,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.4%
1 years$118,914$117,855$116,821$115,813$114,828$114,152
2 years$58,868$57,772$56,709$55,679$54,680$53,998
3 years$38,856$37,755$36,695$35,674$34,691$34,024
4 years$28,851$27,754$26,704$25,701$24,742$24,096
5 years$22,850$21,759$20,724$19,741$18,808$18,184
6 years$18,851$17,768$16,748$15,787$14,883$14,281
7 years$15,995$14,922$13,917$12,979$12,103$11,525
8 years$13,855$12,791$11,803$10,888$10,041$9,486
9 years$12,191$11,136$10,166$9,274$8,456$7,924
10 years$10,860$9,816$8,863$7,994$7,205$6,696
11 years$9,772$8,739$7,803$6,958$6,196$5,710
12 years$8,866$7,843$6,925$6,103$5,370$4,906
13 years$8,100$7,088$6,187$5,388$4,683$4,240
14 years$7,444$6,443$5,559$4,783$4,105$3,683
15 years$6,876$5,886$5,019$4,265$3,614$3,213
16 years$6,380$5,400$4,550$3,819$3,194$2,813
17 years$5,942$4,973$4,141$3,431$2,832$2,471
18 years$5,554$4,596$3,780$3,092$2,518$2,176
19 years$5,206$4,259$3,460$2,794$2,245$1,920
20 years$4,894$3,958$3,176$2,531$2,005$1,698
21 years$4,612$3,687$2,921$2,297$1,794$1,504
22 years$4,356$3,441$2,692$2,088$1,608$1,334
23 years$4,123$3,218$2,486$1,902$1,444$1,185
24 years$3,909$3,016$2,299$1,735$1,298$1,054
25 years$3,713$2,830$2,129$1,584$1,168$939
26 years$3,532$2,660$1,975$1,448$1,052$836
27 years$3,364$2,503$1,834$1,326$948$746
28 years$3,209$2,359$1,705$1,215$856$666
29 years$3,065$2,225$1,586$1,114$773$594
30 years$2,931$2,101$1,478$1,022$698$531
31 years$2,806$1,986$1,378$939$631$475
32 years$2,689$1,880$1,285$863$571$425
33 years$2,579$1,780$1,200$794$517$380
34 years$2,476$1,687$1,121$730$468$340
35 years$2,379$1,600$1,048$672$424$304
36 years$2,287$1,519$981$619$384$273
37 years$2,201$1,442$918$570$348$244
38 years$2,119$1,371$860$526$315$219
39 years$2,042$1,304$805$485$286$196
40 years$1,969$1,240$755$447$259$176
41 years$1,899$1,181$708$412$235$158
42 years$1,833$1,124$664$381$214$141
43 years$1,771$1,071$623$351$194$127
44 years$1,711$1,021$585$324$176$114
45 years$1,654$974$549$300$160$102
46 years$1,600$929$516$277$145$91
47 years$1,548$886$485$256$132$82
48 years$1,499$846$455$236$120$74
49 years$1,451$808$428$218$109$66
50 years$1,406$772$402$202$99$59

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $1,440,000, adding $5,319 every year, while hoping to spend $59,645 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: 81/10/9 Blend
55$1,440,000$1,440,000$1,440,000$1,440,000
56$1,592,367$1,516,047$1,493,727$1,718,854
57$1,691,326$1,526,871$1,480,305$1,813,316
58$1,798,381$1,536,227$1,464,434$1,908,561
59$1,914,292$1,543,979$1,445,970$2,011,309
60$2,039,900$1,549,984$1,424,760$2,122,279
61$2,176,126$1,554,090$1,400,645$2,242,263
62$2,323,984$1,556,133$1,373,460$2,372,135
63$2,484,590$1,555,942$1,343,030$2,512,855
64$2,659,169$1,553,334$1,309,172$2,665,483
65$2,849,071$1,548,115$1,271,696$2,831,185
66$3,055,781$1,540,077$1,230,403$3,011,247
67$3,280,933$1,529,004$1,185,084$3,207,084
68$3,526,325$1,514,661$1,135,521$3,420,258
69$3,793,935$1,496,804$1,081,486$3,652,487
70$4,085,940$1,475,172$1,022,740$3,905,666
71$4,404,739$1,449,488$959,034$4,181,883
72$4,752,969$1,419,460$890,108$4,483,439
73$5,133,535$1,384,777$815,690$4,812,867
74$5,549,635$1,345,111$735,496$5,172,964
75$6,004,791$1,300,114$649,228$5,566,808
76$6,502,880$1,249,419$556,577$5,997,792
77$7,048,169$1,192,637$457,218$6,469,656
78$7,645,361$1,129,354$350,813$6,986,522
79$8,299,633$1,059,137$237,010$7,552,934
80$9,016,685$981,525$115,440$8,173,898
81$9,802,796$896,029$0$8,854,932
82$10,664,883$802,137$0$9,603,491
83$11,610,563$699,303$0$10,436,825
84$12,648,224$586,952$0$11,351,265
85$13,787,108$464,478$0$12,354,997
86$15,037,395$331,239$0$13,457,040
87$16,410,297$186,558$0$14,667,330
88$17,918,166$29,718$0$15,996,819
89$19,574,609$0$0$17,457,574
90$21,394,617$0$0$19,078,299
91$23,394,702$0$0$20,863,018
92$25,593,058$0$0$22,824,698
93$28,009,727$0$0$24,981,230
94$30,666,791$0$0$27,352,323
95$33,588,578$0$0$29,959,692
96$36,801,891$0$0$32,827,262
97$40,336,261$0$0$35,981,392
98$44,224,225$0$0$39,451,124
99$48,501,632$0$0$43,268,457
100$53,207,980$0$0$47,468,648