Can I retire at age 56 with 1,310,000?

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 $1,310,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.8%
1 years$108,179$107,215$106,275$105,357$104,461$101,565
2 years$53,554$52,556$51,590$50,653$49,743$46,847
3 years$35,348$34,346$33,382$32,454$31,559$28,754
4 years$26,247$25,248$24,294$23,381$22,508$19,815
5 years$20,787$19,795$18,853$17,959$17,110$14,537
6 years$17,149$16,164$15,236$14,362$13,539$11,087
7 years$14,551$13,574$12,661$11,808$11,011$8,681
8 years$12,604$11,636$10,738$9,905$9,135$6,926
9 years$11,090$10,131$9,248$8,437$7,693$5,602
10 years$9,880$8,930$8,063$7,273$6,554$4,580
11 years$8,890$7,950$7,098$6,329$5,637$3,776
12 years$8,066$7,135$6,300$5,552$4,885$3,133
13 years$7,369$6,448$5,628$4,901$4,260$2,613
14 years$6,772$5,861$5,057$4,351$3,734$2,189
15 years$6,255$5,354$4,566$3,880$3,288$1,840
16 years$5,804$4,913$4,140$3,474$2,906$1,552
17 years$5,406$4,524$3,767$3,122$2,576$1,311
18 years$5,052$4,181$3,439$2,813$2,291$1,110
19 years$4,736$3,875$3,148$2,542$2,042$942
20 years$4,452$3,600$2,889$2,302$1,824$800
21 years$4,196$3,354$2,657$2,089$1,632$680
22 years$3,963$3,131$2,449$1,900$1,463$579
23 years$3,750$2,928$2,261$1,730$1,313$493
24 years$3,556$2,743$2,091$1,578$1,180$421
25 years$3,377$2,574$1,937$1,441$1,062$359
26 years$3,213$2,420$1,797$1,318$957$306
27 years$3,061$2,277$1,668$1,206$863$262
28 years$2,920$2,146$1,551$1,105$778$224
29 years$2,789$2,024$1,443$1,013$703$191
30 years$2,667$1,912$1,344$930$635$163
31 years$2,553$1,807$1,253$854$574$140
32 years$2,446$1,710$1,169$785$519$119
33 years$2,346$1,619$1,092$722$470$102
34 years$2,252$1,535$1,020$664$426$87
35 years$2,164$1,456$954$611$385$75
36 years$2,081$1,382$892$563$349$64
37 years$2,002$1,312$835$519$317$55
38 years$1,928$1,247$782$478$287$47
39 years$1,858$1,186$733$441$260$40
40 years$1,791$1,128$687$407$236$34
41 years$1,728$1,074$644$375$214$29
42 years$1,668$1,023$604$346$194$25
43 years$1,611$975$567$320$176$22
44 years$1,556$929$532$295$160$18
45 years$1,505$886$500$273$145$16
46 years$1,455$845$469$252$132$13
47 years$1,408$806$441$233$120$12
48 years$1,363$770$414$215$109$10
49 years$1,320$735$389$199$99$8
50 years$1,279$702$366$184$90$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $1,310,000, adding $5,488 every year, while hoping to spend $25,249 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: 42/37/21 Blend
55$1,310,000$1,310,000$1,310,000$1,310,000
56$1,449,281$1,379,851$1,359,546$1,501,031
57$1,570,243$1,420,599$1,378,226$1,579,098
58$1,702,697$1,462,497$1,396,686$1,660,729
59$1,847,788$1,505,576$1,414,891$1,748,614
60$2,006,778$1,549,865$1,432,805$1,843,340
61$2,181,056$1,595,395$1,450,391$1,945,555
62$2,372,153$1,642,198$1,467,608$2,055,969
63$2,581,753$1,690,307$1,484,414$2,175,368
64$2,811,713$1,739,753$1,500,763$2,304,612
65$3,064,078$1,790,571$1,516,609$2,444,651
66$3,341,100$1,842,795$1,531,901$2,596,530
67$3,645,259$1,896,458$1,546,586$2,761,399
68$3,979,288$1,951,598$1,560,610$2,940,524
69$4,346,198$2,008,249$1,573,913$3,135,301
70$4,749,305$2,066,448$1,586,433$3,347,264
71$5,192,262$2,126,232$1,598,107$3,578,106
72$5,679,095$2,187,639$1,608,866$3,829,690
73$6,214,237$2,250,708$1,618,637$4,104,066
74$6,802,574$2,315,477$1,627,346$4,403,496
75$7,449,487$2,381,986$1,634,913$4,730,467
76$8,160,906$2,450,275$1,641,254$5,087,722
77$8,943,365$2,520,385$1,646,283$5,478,282
78$9,804,061$2,592,357$1,649,906$5,905,475
79$10,750,925$2,666,232$1,652,027$6,372,965
80$11,792,695$2,742,053$1,652,546$6,884,793
81$12,938,998$2,819,862$1,651,355$7,445,407
82$14,200,443$2,899,702$1,648,342$8,059,709
83$15,588,718$2,981,617$1,643,391$8,733,103
84$17,116,702$3,065,651$1,636,379$9,471,538
85$18,798,585$3,151,847$1,627,177$10,281,571
86$20,650,003$3,240,250$1,615,650$11,170,429
87$22,688,185$3,330,904$1,601,656$12,146,071
88$24,932,117$3,423,855$1,585,049$13,217,271
89$27,402,716$3,519,148$1,565,671$14,393,694
90$30,123,034$3,616,826$1,543,361$15,685,991
91$33,118,469$3,716,936$1,517,949$17,105,899
92$36,417,009$3,819,522$1,489,257$18,666,350
93$40,049,494$3,924,629$1,457,098$20,381,595
94$44,049,909$4,032,302$1,421,277$22,267,340
95$48,455,700$4,142,585$1,381,590$24,340,888
96$53,308,131$4,255,522$1,337,823$26,621,310
97$58,652,674$4,371,156$1,289,754$29,129,619
98$64,539,435$4,489,531$1,237,148$31,888,974
99$71,023,627$4,610,687$1,179,762$34,924,892
100$78,166,093$4,734,668$1,117,341$38,265,496