Can I retire at age 56 with 1,140,000?

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 $1,140,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.2%
1 years$94,140$93,302$92,483$91,685$90,905$89,695
2 years$46,604$45,736$44,895$44,079$43,288$42,071
3 years$30,761$29,889$29,050$28,242$27,464$26,277
4 years$22,841$21,972$21,141$20,347$19,587$18,441
5 years$18,090$17,226$16,406$15,628$14,890$13,786
6 years$14,924$14,066$13,259$12,498$11,782$10,723
7 years$12,663$11,813$11,018$10,275$9,582$8,568
8 years$10,968$10,126$9,344$8,620$7,949$6,980
9 years$9,651$8,816$8,048$7,342$6,694$5,769
10 years$8,597$7,771$7,017$6,329$5,704$4,822
11 years$7,736$6,918$6,177$5,508$4,906$4,067
12 years$7,019$6,209$5,482$4,831$4,251$3,454
13 years$6,413$5,612$4,898$4,265$3,707$2,951
14 years$5,893$5,101$4,401$3,786$3,250$2,533
15 years$5,444$4,660$3,973$3,377$2,861$2,183
16 years$5,051$4,275$3,602$3,023$2,529$1,888
17 years$4,704$3,937$3,278$2,717$2,242$1,638
18 years$4,397$3,638$2,992$2,448$1,994$1,424
19 years$4,122$3,372$2,739$2,212$1,777$1,240
20 years$3,874$3,133$2,514$2,004$1,587$1,082
21 years$3,651$2,918$2,313$1,818$1,420$946
22 years$3,448$2,724$2,131$1,653$1,273$828
23 years$3,264$2,548$1,968$1,506$1,143$726
24 years$3,094$2,387$1,820$1,373$1,027$636
25 years$2,939$2,240$1,686$1,254$924$559
26 years$2,796$2,106$1,563$1,147$833$491
27 years$2,664$1,982$1,452$1,050$751$432
28 years$2,541$1,867$1,350$962$677$380
29 years$2,427$1,762$1,256$882$612$334
30 years$2,321$1,664$1,170$809$553$294
31 years$2,221$1,573$1,091$743$500$259
32 years$2,129$1,488$1,018$683$452$228
33 years$2,042$1,409$950$628$409$201
34 years$1,960$1,336$888$578$370$177
35 years$1,883$1,267$830$532$335$156
36 years$1,811$1,202$776$490$304$138
37 years$1,742$1,142$727$451$275$122
38 years$1,678$1,085$681$416$250$107
39 years$1,616$1,032$638$384$226$95
40 years$1,559$982$598$354$205$84
41 years$1,504$935$560$327$186$74
42 years$1,451$890$526$301$169$65
43 years$1,402$848$493$278$153$58
44 years$1,354$808$463$257$139$51
45 years$1,309$771$435$237$126$45
46 years$1,267$735$408$219$115$40
47 years$1,226$702$384$202$104$35
48 years$1,186$670$360$187$95$31
49 years$1,149$640$339$173$86$27
50 years$1,113$611$319$160$78$24

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $1,140,000, adding $6,821 every year, while hoping to spend $24,135 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: 52/24/24 Blend
55$1,140,000$1,140,000$1,140,000$1,140,000
56$1,263,316$1,202,896$1,185,226$1,320,243
57$1,366,495$1,236,158$1,199,251$1,393,604
58$1,479,389$1,270,242$1,212,938$1,470,332
59$1,602,964$1,305,161$1,226,249$1,553,298
60$1,738,283$1,340,930$1,239,145$1,643,108
61$1,886,516$1,377,565$1,251,585$1,740,426
62$2,048,954$1,415,078$1,263,526$1,845,982
63$2,227,016$1,453,486$1,274,923$1,960,583
64$2,422,265$1,492,801$1,285,727$2,085,118
65$2,636,426$1,533,037$1,295,888$2,220,564
66$2,871,393$1,574,208$1,305,352$2,367,998
67$3,129,259$1,616,328$1,314,065$2,528,608
68$3,412,323$1,659,408$1,321,966$2,703,701
69$3,723,122$1,703,461$1,328,994$2,894,719
70$4,064,449$1,748,499$1,335,084$3,103,248
71$4,439,381$1,794,534$1,340,167$3,331,037
72$4,851,307$1,841,575$1,344,172$3,580,015
73$5,303,962$1,889,634$1,347,023$3,852,304
74$5,801,459$1,938,718$1,348,641$4,150,246
75$6,348,330$1,988,838$1,348,943$4,476,417
76$6,949,568$2,039,999$1,347,841$4,833,661
77$7,610,674$2,092,209$1,345,244$5,225,108
78$8,337,709$2,145,474$1,341,056$5,654,208
79$9,137,350$2,199,797$1,335,176$6,124,766
80$10,016,954$2,255,181$1,327,499$6,640,970
81$10,984,627$2,311,629$1,317,913$7,207,439
82$12,049,300$2,369,139$1,306,304$7,829,263
83$13,220,813$2,427,711$1,292,550$8,512,049
84$14,510,008$2,487,342$1,276,523$9,261,979
85$15,928,833$2,548,026$1,258,090$10,085,864
86$17,490,450$2,609,755$1,237,112$10,991,211
87$19,209,364$2,672,521$1,213,443$11,986,293
88$21,101,556$2,736,311$1,186,930$13,080,228
89$23,184,636$2,801,111$1,157,414$14,283,062
90$25,478,007$2,866,904$1,124,726$15,605,871
91$28,003,052$2,933,670$1,088,692$17,060,858
92$30,783,329$3,001,386$1,049,129$18,661,472
93$33,844,799$3,070,025$1,005,845$20,422,536
94$37,216,069$3,139,556$958,641$22,360,385
95$40,928,660$3,209,946$907,308$24,493,022
96$45,017,306$3,281,157$851,626$26,840,288
97$49,520,283$3,353,146$791,367$29,424,049
98$54,479,767$3,425,865$726,293$32,268,402
99$59,942,233$3,499,262$656,154$35,399,905
100$65,958,895$3,573,280$580,689$38,847,827