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%16.8%
1 years$118,914$117,855$116,821$115,813$114,828$111,644
2 years$58,868$57,772$56,709$55,679$54,680$51,496
3 years$38,856$37,755$36,695$35,674$34,691$31,607
4 years$28,851$27,754$26,704$25,701$24,742$21,782
5 years$22,850$21,759$20,724$19,741$18,808$15,979
6 years$18,851$17,768$16,748$15,787$14,883$12,188
7 years$15,995$14,922$13,917$12,979$12,103$9,543
8 years$13,855$12,791$11,803$10,888$10,041$7,613
9 years$12,191$11,136$10,166$9,274$8,456$6,158
10 years$10,860$9,816$8,863$7,994$7,205$5,035
11 years$9,772$8,739$7,803$6,958$6,196$4,150
12 years$8,866$7,843$6,925$6,103$5,370$3,444
13 years$8,100$7,088$6,187$5,388$4,683$2,873
14 years$7,444$6,443$5,559$4,783$4,105$2,406
15 years$6,876$5,886$5,019$4,265$3,614$2,023
16 years$6,380$5,400$4,550$3,819$3,194$1,706
17 years$5,942$4,973$4,141$3,431$2,832$1,441
18 years$5,554$4,596$3,780$3,092$2,518$1,221
19 years$5,206$4,259$3,460$2,794$2,245$1,035
20 years$4,894$3,958$3,176$2,531$2,005$879
21 years$4,612$3,687$2,921$2,297$1,794$748
22 years$4,356$3,441$2,692$2,088$1,608$637
23 years$4,123$3,218$2,486$1,902$1,444$542
24 years$3,909$3,016$2,299$1,735$1,298$462
25 years$3,713$2,830$2,129$1,584$1,168$395
26 years$3,532$2,660$1,975$1,448$1,052$337
27 years$3,364$2,503$1,834$1,326$948$288
28 years$3,209$2,359$1,705$1,215$856$246
29 years$3,065$2,225$1,586$1,114$773$210
30 years$2,931$2,101$1,478$1,022$698$179
31 years$2,806$1,986$1,378$939$631$153
32 years$2,689$1,880$1,285$863$571$131
33 years$2,579$1,780$1,200$794$517$112
34 years$2,476$1,687$1,121$730$468$96
35 years$2,379$1,600$1,048$672$424$82
36 years$2,287$1,519$981$619$384$70
37 years$2,201$1,442$918$570$348$60
38 years$2,119$1,371$860$526$315$51
39 years$2,042$1,304$805$485$286$44
40 years$1,969$1,240$755$447$259$38
41 years$1,899$1,181$708$412$235$32
42 years$1,833$1,124$664$381$214$28
43 years$1,771$1,071$623$351$194$24
44 years$1,711$1,021$585$324$176$20
45 years$1,654$974$549$300$160$17
46 years$1,600$929$516$277$145$15
47 years$1,548$886$485$256$132$13
48 years$1,499$846$455$236$120$11
49 years$1,451$808$428$218$109$9
50 years$1,406$772$402$202$99$8

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 $3,470 every year, while hoping to spend $58,916 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: 45/28/27 Blend
55$1,440,000$1,440,000$1,440,000$1,440,000
56$1,590,459$1,514,139$1,491,819$1,649,481
57$1,690,000$1,525,646$1,479,109$1,703,226
58$1,797,719$1,535,742$1,463,998$1,755,528
59$1,914,389$1,544,296$1,446,345$1,811,111
60$2,040,858$1,551,168$1,425,999$1,870,312
61$2,178,060$1,556,209$1,402,804$1,933,508
62$2,327,021$1,559,262$1,376,597$2,001,115
63$2,488,870$1,560,159$1,347,206$2,073,596
64$2,664,849$1,558,721$1,314,452$2,151,466
65$2,856,325$1,554,760$1,278,147$2,235,293
66$3,064,801$1,548,073$1,238,095$2,325,709
67$3,291,930$1,538,449$1,194,092$2,423,416
68$3,539,535$1,525,661$1,145,921$2,529,190
69$3,809,617$1,509,468$1,093,360$2,643,892
70$4,104,384$1,489,617$1,036,172$2,768,475
71$4,426,261$1,465,838$974,114$2,903,995
72$4,777,921$1,437,846$906,929$3,051,623
73$5,162,306$1,405,338$834,348$3,212,654
74$5,582,656$1,367,994$756,093$3,388,523
75$6,042,535$1,325,474$671,871$3,580,816
76$6,545,871$1,277,420$581,376$3,791,291
77$7,096,988$1,223,452$484,290$4,021,891
78$7,700,648$1,163,167$380,280$4,274,768
79$8,362,093$1,096,142$268,999$4,552,299
80$9,087,099$1,021,925$150,083$4,857,116
81$9,882,025$940,042$23,153$5,192,127
82$10,753,878$849,990$0$5,560,549
83$11,710,372$751,238$0$5,998,290
84$12,760,006$643,225$0$6,486,147
85$13,912,141$525,357$0$7,021,910
86$15,177,087$397,007$0$7,610,509
87$16,566,204$257,515$0$8,257,379
88$18,092,005$106,181$0$8,968,520
89$19,768,272$0$0$9,750,550
90$21,610,192$0$0$10,628,557
91$23,634,492$0$0$11,629,637
92$25,859,603$0$0$12,730,213
93$28,305,829$0$0$13,940,349
94$30,995,539$0$0$15,271,136
95$33,953,379$0$0$16,734,793
96$37,206,501$0$0$18,344,781
97$40,784,823$0$0$20,115,935
98$44,721,307$0$0$22,064,595
99$49,052,269$0$0$24,208,770
100$53,817,726$0$0$26,568,298