Can I retire at age 56 with 1,450,000?

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 $1,450,000?

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$119,740$118,673$117,632$116,617$115,625$114,656
2 years$59,277$58,173$57,103$56,066$55,060$54,083
3 years$39,125$38,017$36,950$35,922$34,932$33,978
4 years$29,052$27,946$26,890$25,880$24,914$23,990
5 years$23,009$21,910$20,868$19,878$18,939$18,048
6 years$18,982$17,891$16,864$15,897$14,986$14,129
7 years$16,106$15,025$14,014$13,070$12,188$11,364
8 years$13,951$12,879$11,885$10,964$10,111$9,322
9 years$12,275$11,214$10,237$9,339$8,515$7,760
10 years$10,935$9,884$8,925$8,050$7,255$6,534
11 years$9,840$8,799$7,857$7,006$6,239$5,551
12 years$8,928$7,898$6,973$6,145$5,407$4,751
13 years$8,156$7,137$6,230$5,425$4,715$4,091
14 years$7,496$6,488$5,598$4,816$4,133$3,540
15 years$6,924$5,927$5,054$4,295$3,639$3,076
16 years$6,424$5,438$4,582$3,846$3,216$2,682
17 years$5,983$5,008$4,169$3,455$2,852$2,345
18 years$5,592$4,627$3,806$3,114$2,536$2,057
19 years$5,242$4,289$3,484$2,814$2,260$1,807
20 years$4,928$3,985$3,198$2,548$2,019$1,591
21 years$4,644$3,712$2,941$2,313$1,807$1,403
22 years$4,386$3,465$2,711$2,103$1,619$1,239
23 years$4,151$3,241$2,503$1,915$1,454$1,096
24 years$3,936$3,036$2,315$1,747$1,307$970
25 years$3,738$2,850$2,144$1,595$1,176$860
26 years$3,556$2,678$1,989$1,459$1,059$763
27 years$3,388$2,520$1,846$1,335$955$677
28 years$3,232$2,375$1,717$1,223$862$601
29 years$3,087$2,241$1,597$1,122$778$534
30 years$2,952$2,116$1,488$1,029$703$475
31 years$2,825$2,000$1,387$945$635$423
32 years$2,707$1,893$1,294$869$575$376
33 years$2,597$1,792$1,208$799$520$335
34 years$2,493$1,699$1,129$735$471$298
35 years$2,395$1,611$1,056$677$427$266
36 years$2,303$1,529$988$623$387$237
37 years$2,216$1,453$924$574$350$211
38 years$2,134$1,380$866$529$318$188
39 years$2,056$1,313$811$488$288$168
40 years$1,982$1,249$760$450$261$149
41 years$1,912$1,189$713$415$237$133
42 years$1,846$1,132$669$383$215$119
43 years$1,783$1,079$627$354$195$106
44 years$1,723$1,028$589$327$177$95
45 years$1,666$981$553$302$161$84
46 years$1,611$935$519$279$146$75
47 years$1,559$893$488$257$133$67
48 years$1,509$852$458$238$120$60
49 years$1,461$814$431$220$109$54
50 years$1,416$777$405$203$99$48

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $1,450,000, adding $5,076 every year, while hoping to spend $33,949 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: 75/7/18 Blend
55$1,450,000$1,450,000$1,450,000$1,450,000
56$1,603,136$1,526,286$1,503,811$1,716,371
57$1,730,534$1,564,952$1,518,067$1,830,712
58$1,869,789$1,604,376$1,531,663$1,951,328
59$2,022,075$1,644,557$1,544,541$2,082,639
60$2,188,683$1,685,497$1,556,639$2,225,702
61$2,371,036$1,727,194$1,567,894$2,381,680
62$2,570,702$1,769,646$1,578,238$2,551,855
63$2,789,404$1,812,849$1,587,600$2,737,641
64$3,029,043$1,856,799$1,595,905$2,940,593
65$3,291,712$1,901,489$1,603,074$3,162,426
66$3,579,716$1,946,910$1,609,026$3,405,028
67$3,895,591$1,993,053$1,613,672$3,670,481
68$4,242,133$2,039,905$1,616,923$3,961,077
69$4,622,423$2,087,453$1,618,682$4,279,343
70$5,039,852$2,135,679$1,618,849$4,628,062
71$5,498,155$2,184,566$1,617,319$5,010,301
72$6,001,449$2,234,092$1,613,981$5,429,440
73$6,554,267$2,284,232$1,608,720$5,889,203
74$7,161,603$2,334,961$1,601,413$6,393,693
75$7,828,960$2,386,248$1,591,934$6,947,432
76$8,562,399$2,438,059$1,580,149$7,555,402
77$9,368,598$2,490,358$1,565,918$8,223,094
78$10,254,913$2,543,103$1,549,094$8,956,559
79$11,229,450$2,596,251$1,529,524$9,762,464
80$12,301,139$2,649,752$1,507,048$10,648,155
81$13,479,818$2,703,553$1,481,497$11,621,730
82$14,776,326$2,757,594$1,452,695$12,692,111
83$16,202,608$2,811,813$1,420,457$13,869,129
84$17,771,823$2,866,140$1,384,590$15,163,621
85$19,498,469$2,920,501$1,344,894$16,587,527
86$21,398,520$2,974,814$1,301,156$18,154,004
87$23,489,581$3,028,991$1,253,156$19,877,555
88$25,791,044$3,082,937$1,200,663$21,774,158
89$28,324,281$3,136,552$1,143,435$23,861,425
90$31,112,838$3,189,723$1,081,221$26,158,762
91$34,182,662$3,242,334$1,013,756$28,687,556
92$37,562,341$3,294,256$940,765$31,471,376
93$41,283,379$3,345,354$861,959$34,536,196
94$45,380,488$3,395,480$777,039$37,910,638
95$49,891,917$3,444,478$685,689$41,626,246
96$54,859,814$3,492,180$587,582$45,717,783
97$60,330,623$3,538,404$482,374$50,223,557
98$66,355,521$3,582,960$369,707$55,185,785
99$72,990,900$3,625,641$249,208$60,650,993
100$80,298,902$3,666,227$120,487$66,670,450