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%12.9%
1 years$120,565$119,492$118,444$117,421$116,422$115,015
2 years$59,686$58,574$57,497$56,452$55,439$54,023
3 years$39,395$38,279$37,204$36,170$35,173$33,792
4 years$29,252$28,139$27,075$26,058$25,086$23,750
5 years$23,168$22,061$21,011$20,015$19,070$17,784
6 years$19,113$18,015$16,980$16,006$15,089$13,854
7 years$16,217$15,129$14,111$13,160$12,272$11,088
8 years$14,047$12,968$11,967$11,039$10,180$9,049
9 years$12,360$11,291$10,307$9,403$8,573$7,493
10 years$11,011$9,953$8,986$8,106$7,305$6,275
11 years$9,908$8,860$7,911$7,054$6,283$5,301
12 years$8,989$7,952$7,021$6,188$5,444$4,511
13 years$8,213$7,187$6,273$5,463$4,748$3,862
14 years$7,548$6,532$5,636$4,849$4,162$3,322
15 years$6,972$5,968$5,089$4,325$3,664$2,869
16 years$6,468$5,475$4,614$3,872$3,238$2,486
17 years$6,025$5,042$4,198$3,479$2,871$2,161
18 years$5,631$4,659$3,832$3,135$2,553$1,882
19 years$5,279$4,318$3,508$2,833$2,276$1,644
20 years$4,962$4,013$3,220$2,566$2,033$1,438
21 years$4,676$3,738$2,962$2,329$1,819$1,259
22 years$4,416$3,489$2,730$2,117$1,631$1,105
23 years$4,180$3,263$2,520$1,928$1,464$970
24 years$3,963$3,057$2,331$1,759$1,316$853
25 years$3,764$2,869$2,159$1,606$1,184$751
26 years$3,581$2,697$2,002$1,469$1,066$661
27 years$3,411$2,538$1,859$1,344$961$583
28 years$3,254$2,391$1,728$1,232$867$514
29 years$3,108$2,256$1,608$1,129$783$453
30 years$2,972$2,131$1,498$1,037$708$400
31 years$2,845$2,014$1,397$952$640$353
32 years$2,726$1,906$1,303$875$579$312
33 years$2,615$1,805$1,217$805$524$276
34 years$2,510$1,710$1,137$740$474$244
35 years$2,412$1,622$1,063$681$430$215
36 years$2,319$1,540$994$628$389$191
37 years$2,231$1,463$931$578$353$168
38 years$2,149$1,390$872$533$320$149
39 years$2,070$1,322$817$491$290$132
40 years$1,996$1,257$765$453$263$117
41 years$1,926$1,197$718$418$239$103
42 years$1,859$1,140$673$386$217$91
43 years$1,795$1,086$632$356$197$81
44 years$1,735$1,035$593$329$178$72
45 years$1,677$987$557$304$162$63
46 years$1,622$942$523$281$147$56
47 years$1,570$899$491$259$134$50
48 years$1,519$858$462$240$121$44
49 years$1,471$819$434$221$110$39
50 years$1,425$783$408$205$100$34

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 $2,181 every year, while hoping to spend $41,991 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: 22/48/30 Blend
55$1,460,000$1,460,000$1,460,000$1,460,000
56$1,611,170$1,533,790$1,511,160$1,631,315
57$1,730,831$1,564,267$1,517,105$1,680,143
58$1,861,290$1,594,831$1,521,843$1,728,709
59$2,003,605$1,625,441$1,525,288$1,779,774
60$2,158,938$1,656,053$1,527,350$1,833,570
61$2,328,570$1,686,620$1,527,937$1,890,355
62$2,513,912$1,717,092$1,526,951$1,950,416
63$2,716,515$1,747,414$1,524,288$2,014,069
64$2,938,089$1,777,526$1,519,840$2,081,666
65$3,180,514$1,807,365$1,513,495$2,153,595
66$3,445,863$1,836,863$1,505,134$2,230,287
67$3,736,418$1,865,945$1,494,632$2,312,221
68$4,054,689$1,894,533$1,481,860$2,399,925
69$4,403,445$1,922,543$1,466,679$2,493,985
70$4,785,732$1,949,883$1,448,949$2,595,050
71$5,204,906$1,976,457$1,428,518$2,703,838
72$5,664,663$2,002,160$1,405,230$2,821,145
73$6,169,075$2,026,882$1,378,921$2,947,851
74$6,722,625$2,050,503$1,349,419$3,084,930
75$7,330,252$2,072,898$1,316,545$3,233,460
76$7,997,398$2,093,930$1,280,109$3,394,634
77$8,730,056$2,113,456$1,239,916$3,569,771
78$9,534,828$2,131,322$1,195,760$3,760,332
79$10,418,988$2,147,363$1,147,425$3,967,930
80$11,390,547$2,161,407$1,094,686$4,194,350
81$12,458,334$2,173,266$1,037,309$4,441,567
82$13,632,072$2,182,744$975,047$4,711,762
83$14,922,475$2,189,631$907,643$5,007,347
84$16,341,348$2,193,703$834,829$5,330,990
85$17,901,694$2,194,723$756,324$5,685,635
86$19,617,841$2,192,439$671,836$6,074,540
87$21,505,576$2,186,584$581,057$6,501,302
88$23,582,292$2,176,873$483,669$6,969,897
89$25,867,151$2,163,006$379,338$7,484,714
90$28,381,270$2,144,662$267,715$8,050,604
91$31,147,912$2,121,503$148,436$8,672,925
92$34,192,711$2,093,169$21,121$9,357,592
93$37,543,914$2,059,281$0$10,111,139
94$41,232,640$2,019,433$0$10,977,509
95$45,293,183$1,973,199$0$11,937,541
96$49,763,329$1,920,126$0$12,993,398
97$54,684,711$1,859,735$0$14,154,932
98$60,103,208$1,791,519$0$15,433,008
99$66,069,373$1,714,941$0$16,839,611
100$72,638,910$1,629,433$0$18,387,960