Can I retire at age 56 with 1,290,000?

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 $1,290,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.6%
1 years$106,527$105,578$104,652$103,749$102,866$98,902
2 years$52,736$51,754$50,802$49,879$48,984$45,037
3 years$34,808$33,822$32,872$31,958$31,077$27,273
4 years$25,846$24,863$23,923$23,024$22,165$18,531
5 years$20,470$19,493$18,565$17,685$16,849$13,395
6 years$16,887$15,917$15,003$14,143$13,332$10,061
7 years$14,329$13,367$12,468$11,627$10,843$7,753
8 years$12,411$11,458$10,574$9,754$8,995$6,083
9 years$10,921$9,976$9,107$8,308$7,575$4,838
10 years$9,729$8,794$7,940$7,162$6,454$3,886
11 years$8,754$7,829$6,990$6,233$5,551$3,146
12 years$7,943$7,026$6,203$5,467$4,810$2,562
13 years$7,256$6,350$5,542$4,827$4,195$2,097
14 years$6,669$5,772$4,980$4,284$3,677$1,723
15 years$6,160$5,273$4,496$3,821$3,238$1,420
16 years$5,715$4,838$4,076$3,421$2,861$1,173
17 years$5,323$4,455$3,709$3,074$2,537$971
18 years$4,975$4,117$3,386$2,770$2,256$805
19 years$4,664$3,815$3,100$2,503$2,011$669
20 years$4,384$3,545$2,845$2,267$1,796$556
21 years$4,132$3,302$2,617$2,058$1,607$463
22 years$3,902$3,083$2,412$1,871$1,441$385
23 years$3,693$2,883$2,227$1,704$1,293$321
24 years$3,502$2,701$2,059$1,554$1,162$268
25 years$3,326$2,535$1,907$1,419$1,046$223
26 years$3,164$2,383$1,769$1,298$942$186
27 years$3,014$2,242$1,643$1,188$849$156
28 years$2,875$2,113$1,527$1,088$766$130
29 years$2,746$1,993$1,421$998$692$109
30 years$2,626$1,882$1,324$916$625$91
31 years$2,514$1,780$1,234$841$565$76
32 years$2,409$1,684$1,151$773$511$63
33 years$2,310$1,595$1,075$711$463$53
34 years$2,218$1,511$1,004$654$419$44
35 years$2,131$1,433$939$602$380$37
36 years$2,049$1,361$879$555$344$31
37 years$1,971$1,292$822$511$312$26
38 years$1,898$1,228$770$471$283$22
39 years$1,829$1,168$721$434$256$18
40 years$1,764$1,111$676$400$232$15
41 years$1,701$1,058$634$370$211$13
42 years$1,642$1,007$595$341$191$11
43 years$1,586$960$558$315$174$9
44 years$1,533$915$524$291$158$7
45 years$1,482$872$492$268$143$6
46 years$1,433$832$462$248$130$5
47 years$1,387$794$434$229$118$4
48 years$1,342$758$408$212$107$4
49 years$1,300$724$383$196$97$3
50 years$1,259$692$360$181$88$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $1,290,000, adding $2,398 every year, while hoping to spend $47,843 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: 62/22/16 Blend
55$1,290,000$1,290,000$1,290,000$1,290,000
56$1,424,054$1,355,684$1,335,689$1,506,508
57$1,518,402$1,371,207$1,329,530$1,577,772
58$1,620,771$1,385,889$1,321,561$1,649,913
59$1,731,928$1,399,635$1,311,671$1,727,528
60$1,852,716$1,412,349$1,299,744$1,811,152
61$1,984,066$1,423,926$1,285,657$1,901,377
62$2,126,997$1,434,255$1,269,283$1,998,854
63$2,282,635$1,443,218$1,250,488$2,104,301
64$2,452,216$1,450,688$1,229,133$2,218,512
65$2,637,103$1,456,532$1,205,069$2,342,362
66$2,838,793$1,460,608$1,178,144$2,476,816
67$3,058,935$1,462,763$1,148,198$2,622,940
68$3,299,346$1,462,838$1,115,062$2,781,909
69$3,562,023$1,460,661$1,078,560$2,955,021
70$3,849,166$1,456,050$1,038,509$3,143,707
71$4,163,199$1,448,814$994,716$3,349,545
72$4,506,787$1,438,748$946,981$3,574,279
73$4,882,868$1,425,636$895,094$3,819,829
74$5,294,676$1,409,247$838,835$4,088,316
75$5,745,771$1,389,338$777,974$4,382,079
76$6,240,076$1,365,652$712,272$4,703,700
77$6,781,909$1,337,914$641,479$5,056,024
78$7,376,027$1,305,836$565,332$5,442,191
79$8,027,670$1,269,110$483,559$5,865,666
80$8,742,608$1,227,412$395,874$6,330,270
81$9,527,198$1,180,399$301,979$6,840,217
82$10,388,440$1,127,707$201,564$7,400,155
83$11,334,048$1,068,950$94,302$8,015,211
84$12,372,515$1,003,724$0$8,691,041
85$13,513,202$931,597$0$9,437,324
86$14,766,418$852,114$0$10,274,900
87$16,143,520$764,795$0$11,195,300
88$17,657,021$669,132$0$12,206,958
89$19,320,705$564,587$0$13,319,166
90$21,149,759$450,594$0$14,542,169
91$23,160,914$326,552$0$15,887,261
92$25,372,604$191,830$0$17,366,889
93$27,805,138$45,759$0$18,994,776
94$30,480,894$0$0$20,786,046
95$33,424,525$0$0$22,784,574
96$36,663,196$0$0$24,995,713
97$40,226,837$0$0$27,428,833
98$44,148,425$0$0$30,106,462
99$48,464,295$0$0$33,053,426
100$53,214,486$0$0$36,297,078