Can I retire at age 56 with 1,460,000?

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 $1,460,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.6%
1 years$120,565$119,492$118,444$117,421$116,422$112,831
2 years$59,686$58,574$57,497$56,452$55,439$51,853
3 years$39,395$38,279$37,204$36,170$35,173$31,703
4 years$29,252$28,139$27,075$26,058$25,086$21,760
5 years$23,168$22,061$21,011$20,015$19,070$15,896
6 years$19,113$18,015$16,980$16,006$15,089$12,071
7 years$16,217$15,129$14,111$13,160$12,272$9,409
8 years$14,047$12,968$11,967$11,039$10,180$7,471
9 years$12,360$11,291$10,307$9,403$8,573$6,014
10 years$11,011$9,953$8,986$8,106$7,305$4,892
11 years$9,908$8,860$7,911$7,054$6,283$4,012
12 years$8,989$7,952$7,021$6,188$5,444$3,312
13 years$8,213$7,187$6,273$5,463$4,748$2,747
14 years$7,548$6,532$5,636$4,849$4,162$2,289
15 years$6,972$5,968$5,089$4,325$3,664$1,913
16 years$6,468$5,475$4,614$3,872$3,238$1,604
17 years$6,025$5,042$4,198$3,479$2,871$1,348
18 years$5,631$4,659$3,832$3,135$2,553$1,134
19 years$5,279$4,318$3,508$2,833$2,276$956
20 years$4,962$4,013$3,220$2,566$2,033$807
21 years$4,676$3,738$2,962$2,329$1,819$682
22 years$4,416$3,489$2,730$2,117$1,631$577
23 years$4,180$3,263$2,520$1,928$1,464$489
24 years$3,963$3,057$2,331$1,759$1,316$414
25 years$3,764$2,869$2,159$1,606$1,184$351
26 years$3,581$2,697$2,002$1,469$1,066$298
27 years$3,411$2,538$1,859$1,344$961$253
28 years$3,254$2,391$1,728$1,232$867$214
29 years$3,108$2,256$1,608$1,129$783$182
30 years$2,972$2,131$1,498$1,037$708$155
31 years$2,845$2,014$1,397$952$640$131
32 years$2,726$1,906$1,303$875$579$112
33 years$2,615$1,805$1,217$805$524$95
34 years$2,510$1,710$1,137$740$474$81
35 years$2,412$1,622$1,063$681$430$68
36 years$2,319$1,540$994$628$389$58
37 years$2,231$1,463$931$578$353$49
38 years$2,149$1,390$872$533$320$42
39 years$2,070$1,322$817$491$290$36
40 years$1,996$1,257$765$453$263$30
41 years$1,926$1,197$718$418$239$26
42 years$1,859$1,140$673$386$217$22
43 years$1,795$1,086$632$356$197$19
44 years$1,735$1,035$593$329$178$16
45 years$1,677$987$557$304$162$13
46 years$1,622$942$523$281$147$11
47 years$1,570$899$491$259$134$10
48 years$1,519$858$462$240$121$8
49 years$1,471$819$434$221$110$7
50 years$1,425$783$408$205$100$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $1,460,000, adding $2,407 every year, while hoping to spend $23,416 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: 61/18/21 Blend
55$1,460,000$1,460,000$1,460,000$1,460,000
56$1,611,403$1,534,023$1,511,393$1,700,703
57$1,750,851$1,584,275$1,537,110$1,811,652
58$1,903,739$1,636,206$1,562,904$1,929,891
59$2,071,412$1,689,871$1,588,752$2,058,410
60$2,255,352$1,745,331$1,614,632$2,198,213
61$2,457,193$1,802,647$1,640,517$2,350,402
62$2,678,733$1,861,883$1,666,381$2,516,193
63$2,921,953$1,923,105$1,692,194$2,696,925
64$3,189,037$1,986,382$1,717,928$2,894,071
65$3,482,389$2,051,784$1,743,548$3,109,253
66$3,804,656$2,119,386$1,769,020$3,344,259
67$4,158,757$2,189,262$1,794,309$3,601,056
68$4,547,906$2,261,492$1,819,374$3,881,812
69$4,975,645$2,336,157$1,844,175$4,188,914
70$5,445,874$2,413,342$1,868,669$4,524,991
71$5,962,893$2,493,135$1,892,808$4,892,938
72$6,531,435$2,575,626$1,916,545$5,295,946
73$7,156,719$2,660,910$1,939,827$5,737,528
74$7,844,494$2,749,083$1,962,600$6,221,556
75$8,601,091$2,840,247$1,984,806$6,752,293
76$9,433,490$2,934,507$2,006,384$7,334,436
77$10,349,379$3,031,970$2,027,271$7,973,162
78$11,357,229$3,132,750$2,047,398$8,674,170
79$12,466,374$3,236,963$2,066,694$9,443,743
80$13,687,100$3,344,730$2,085,084$10,288,800
81$15,030,738$3,456,176$2,102,488$11,216,966
82$16,509,775$3,571,431$2,118,824$12,236,641
83$18,137,970$3,690,628$2,134,002$13,357,081
84$19,930,483$3,813,909$2,147,931$14,588,482
85$21,904,020$3,941,418$2,160,514$15,942,081
86$24,076,986$4,073,304$2,171,648$17,430,258
87$26,469,666$4,209,723$2,181,225$19,066,654
88$29,104,410$4,350,837$2,189,134$20,866,298
89$32,005,845$4,496,813$2,195,255$22,845,752
90$35,201,108$4,647,825$2,199,464$25,023,265
91$38,720,105$4,804,052$2,201,629$27,418,944
92$42,595,787$4,965,681$2,201,615$30,054,947
93$46,864,464$5,132,907$2,199,276$32,955,687
94$51,566,150$5,305,930$2,194,462$36,148,066
95$56,744,935$5,484,958$2,187,015$39,661,730
96$62,449,406$5,670,208$2,176,767$43,529,343
97$68,733,102$5,861,906$2,163,546$47,786,902
98$75,655,022$6,060,282$2,147,168$52,474,070
99$83,280,179$6,265,581$2,127,442$57,634,554
100$91,680,214$6,478,051$2,104,169$63,316,519