Can I retire at age 56 with 1,180,000?

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 $1,180,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.4%
1 years$97,443$96,575$95,728$94,902$94,095$90,540
2 years$48,239$47,341$46,470$45,626$44,807$41,267
3 years$31,840$30,938$30,069$29,233$28,427$25,014
4 years$23,642$22,743$21,883$21,061$20,275$17,013
5 years$18,725$17,830$16,982$16,177$15,413$12,311
6 years$15,447$14,560$13,724$12,937$12,195$9,257
7 years$13,107$12,227$11,405$10,636$9,918$7,141
8 years$11,353$10,481$9,672$8,922$8,228$5,610
9 years$9,989$9,126$8,331$7,600$6,929$4,467
10 years$8,899$8,044$7,263$6,551$5,904$3,593
11 years$8,008$7,161$6,394$5,701$5,078$2,912
12 years$7,265$6,427$5,675$5,001$4,400$2,375
13 years$6,638$5,808$5,070$4,415$3,837$1,946
14 years$6,100$5,280$4,555$3,919$3,364$1,601
15 years$5,635$4,823$4,113$3,495$2,962$1,322
16 years$5,228$4,425$3,729$3,130$2,617$1,093
17 years$4,869$4,075$3,393$2,812$2,321$907
18 years$4,551$3,766$3,097$2,534$2,064$753
19 years$4,266$3,490$2,836$2,290$1,839$626
20 years$4,010$3,243$2,602$2,074$1,643$522
21 years$3,779$3,021$2,394$1,882$1,470$435
22 years$3,569$2,820$2,206$1,711$1,318$363
23 years$3,378$2,637$2,037$1,558$1,183$303
24 years$3,203$2,471$1,884$1,421$1,063$253
25 years$3,042$2,319$1,745$1,298$957$211
26 years$2,894$2,179$1,618$1,187$862$177
27 years$2,757$2,051$1,503$1,086$777$148
28 years$2,630$1,933$1,397$995$701$123
29 years$2,512$1,823$1,300$913$633$103
30 years$2,402$1,722$1,211$838$572$86
31 years$2,299$1,628$1,129$769$517$72
32 years$2,203$1,540$1,053$707$468$61
33 years$2,113$1,459$983$650$423$51
34 years$2,029$1,382$919$598$383$42
35 years$1,949$1,311$859$551$347$36
36 years$1,874$1,245$804$507$315$30
37 years$1,803$1,182$752$467$285$25
38 years$1,736$1,123$704$431$258$21
39 years$1,673$1,068$660$397$234$17
40 years$1,613$1,016$619$366$213$15
41 years$1,556$967$580$338$193$12
42 years$1,502$921$544$312$175$10
43 years$1,451$878$511$288$159$9
44 years$1,402$837$479$266$144$7
45 years$1,355$798$450$246$131$6
46 years$1,311$761$423$227$119$5
47 years$1,269$726$397$210$108$4
48 years$1,228$693$373$194$98$4
49 years$1,189$662$351$179$89$3
50 years$1,152$633$330$165$81$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $1,180,000, adding $5,771 every year, while hoping to spend $55,868 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: 45/31/24 Blend
55$1,180,000$1,180,000$1,180,000$1,180,000
56$1,306,313$1,243,773$1,225,483$1,355,820
57$1,380,114$1,245,275$1,207,093$1,392,866
58$1,459,570$1,244,977$1,186,215$1,427,122
59$1,545,199$1,242,734$1,162,707$1,463,159
60$1,637,570$1,238,389$1,136,418$1,501,170
61$1,737,307$1,231,776$1,107,194$1,541,372
62$1,845,099$1,222,719$1,074,871$1,584,010
63$1,961,698$1,211,031$1,039,278$1,629,354
64$2,087,935$1,196,516$1,000,238$1,677,707
65$2,224,722$1,178,962$957,563$1,729,407
66$2,373,061$1,158,149$911,059$1,784,831
67$2,534,056$1,133,841$860,522$1,844,399
68$2,708,919$1,105,788$805,739$1,908,579
69$2,898,984$1,073,727$746,486$1,977,892
70$3,105,719$1,037,378$682,532$2,052,916
71$3,330,738$996,446$613,633$2,134,297
72$3,575,819$950,618$539,536$2,222,750
73$3,842,917$899,562$459,974$2,319,073
74$4,134,183$842,929$374,672$2,424,150
75$4,451,986$780,349$283,340$2,538,963
76$4,798,933$711,430$185,676$2,664,603
77$5,177,892$635,759$81,364$2,802,282
78$5,592,024$552,897$0$2,953,341
79$6,044,806$462,385$0$3,126,941
80$6,540,067$363,732$0$3,339,798
81$7,082,023$256,425$0$3,572,975
82$7,675,317$139,917$0$3,828,597
83$8,325,062$13,636$0$4,109,013
84$9,036,886$0$0$4,416,814
85$9,816,991$0$0$4,796,836
86$10,672,204$0$0$5,218,687
87$11,610,046$0$0$5,681,443
88$12,638,801$0$0$6,189,209
89$13,767,591$0$0$6,746,507
90$15,006,466$0$0$7,358,318
91$16,366,495$0$0$8,030,130
92$17,859,873$0$0$8,767,987
93$19,500,031$0$0$9,578,546
94$21,301,766$0$0$10,469,144
95$23,281,379$0$0$11,447,861
96$25,456,828$0$0$12,523,599
97$27,847,897$0$0$13,706,165
98$30,476,380$0$0$15,006,367
99$33,366,291$0$0$16,436,107
100$36,544,084$0$0$18,008,502