Can I retire at age 56 with 1,330,000?

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 $1,330,000?

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$109,830$108,852$107,897$106,966$106,056$104,774
2 years$54,371$53,359$52,377$51,426$50,503$49,213
3 years$35,888$34,871$33,892$32,949$32,041$30,783
4 years$26,647$25,634$24,664$23,738$22,852$21,635
5 years$21,105$20,097$19,141$18,233$17,372$16,200
6 years$17,411$16,411$15,468$14,581$13,746$12,621
7 years$14,773$13,782$12,854$11,988$11,179$10,101
8 years$12,796$11,813$10,902$10,056$9,274$8,243
9 years$11,259$10,286$9,389$8,566$7,810$6,826
10 years$10,030$9,066$8,186$7,384$6,655$5,716
11 years$9,026$8,071$7,207$6,426$5,723$4,829
12 years$8,189$7,244$6,396$5,637$4,960$4,110
13 years$7,481$6,547$5,714$4,976$4,325$3,518
14 years$6,876$5,951$5,134$4,417$3,791$3,026
15 years$6,351$5,436$4,636$3,939$3,338$2,613
16 years$5,892$4,988$4,203$3,527$2,950$2,265
17 years$5,488$4,593$3,824$3,169$2,616$1,968
18 years$5,129$4,244$3,491$2,856$2,326$1,715
19 years$4,809$3,934$3,196$2,581$2,073$1,497
20 years$4,520$3,655$2,933$2,337$1,852$1,310
21 years$4,260$3,405$2,698$2,121$1,657$1,147
22 years$4,023$3,178$2,487$1,929$1,485$1,006
23 years$3,808$2,973$2,296$1,757$1,333$884
24 years$3,610$2,785$2,123$1,602$1,198$777
25 years$3,429$2,614$1,967$1,463$1,078$684
26 years$3,262$2,457$1,824$1,338$971$602
27 years$3,107$2,312$1,694$1,225$876$531
28 years$2,964$2,178$1,574$1,122$790$468
29 years$2,831$2,055$1,465$1,029$714$413
30 years$2,707$1,941$1,365$944$645$364
31 years$2,592$1,835$1,272$867$583$322
32 years$2,483$1,736$1,187$797$527$284
33 years$2,382$1,644$1,108$733$477$251
34 years$2,287$1,558$1,036$674$432$222
35 years$2,197$1,478$968$621$391$196
36 years$2,112$1,403$906$572$355$174
37 years$2,033$1,332$848$527$321$153
38 years$1,957$1,266$794$486$291$136
39 years$1,886$1,204$744$448$264$120
40 years$1,818$1,146$697$413$240$106
41 years$1,754$1,090$654$381$217$94
42 years$1,693$1,038$613$352$197$83
43 years$1,635$989$575$325$179$74
44 years$1,580$943$540$300$163$65
45 years$1,528$899$507$277$148$58
46 years$1,478$858$476$256$134$51
47 years$1,430$819$448$236$122$45
48 years$1,384$782$421$218$110$40
49 years$1,340$746$395$202$100$35
50 years$1,299$713$372$186$91$31

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $1,330,000, adding $2,013 every year, while hoping to spend $43,622 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: 66/6/28 Blend
55$1,330,000$1,330,000$1,330,000$1,330,000
56$1,467,736$1,397,246$1,376,631$1,553,661
57$1,571,032$1,419,298$1,376,335$1,633,954
58$1,683,402$1,440,968$1,374,567$1,716,651
59$1,805,725$1,462,192$1,371,231$1,806,110
60$1,938,970$1,482,900$1,366,228$1,903,001
61$2,084,201$1,503,019$1,359,453$2,008,064
62$2,242,591$1,522,468$1,350,796$2,122,115
63$2,415,429$1,541,162$1,340,142$2,246,053
64$2,604,136$1,559,012$1,327,369$2,380,871
65$2,810,274$1,575,920$1,312,352$2,527,663
66$3,035,564$1,591,783$1,294,959$2,687,635
67$3,281,902$1,606,490$1,275,050$2,862,120
68$3,551,372$1,619,924$1,252,480$3,052,584
69$3,846,272$1,631,960$1,227,098$3,260,646
70$4,169,130$1,642,465$1,198,744$3,488,093
71$4,522,731$1,651,296$1,167,253$3,736,891
72$4,910,144$1,658,303$1,132,449$4,009,213
73$5,334,744$1,663,325$1,094,151$4,307,452
74$5,800,252$1,666,192$1,052,170$4,634,249
75$6,310,764$1,666,723$1,006,304$4,992,513
76$6,870,794$1,664,724$956,348$5,385,455
77$7,485,312$1,659,992$902,082$5,816,614
78$8,159,791$1,652,310$843,279$6,289,894
79$8,900,264$1,641,447$779,703$6,809,596
80$9,713,372$1,627,159$711,104$7,380,466
81$10,606,433$1,609,187$637,224$8,007,734
82$11,587,509$1,587,257$557,790$8,697,169
83$12,665,481$1,561,078$472,522$9,455,129
84$13,850,130$1,530,341$381,122$10,288,625
85$15,152,237$1,494,721$283,282$11,205,388
86$16,583,674$1,453,871$178,681$12,213,937
87$18,157,524$1,407,426$66,982$13,323,669
88$19,888,199$1,354,998$0$14,544,940
89$21,791,579$1,296,177$0$15,904,770
90$23,885,160$1,230,529$0$17,422,514
91$26,188,218$1,157,597$0$19,092,130
92$28,721,991$1,076,893$0$20,929,034
93$31,509,879$987,907$0$22,950,213
94$34,577,667$890,095$0$25,174,383
95$37,953,764$782,884$0$27,622,172
96$41,669,471$665,668$0$30,316,306
97$45,759,280$537,809$0$33,281,831
98$50,261,194$398,629$0$36,546,343
99$55,217,090$247,416$0$40,140,254
100$60,673,108$83,414$0$44,097,074