Can I retire at age 56 with 1,360,000?

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 $1,360,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.4%
1 years$112,308$111,307$110,331$109,379$108,448$104,767
2 years$55,598$54,562$53,559$52,586$51,642$47,970
3 years$36,697$35,657$34,656$33,692$32,764$29,217
4 years$27,248$26,212$25,221$24,273$23,367$19,972
5 years$21,581$20,550$19,572$18,644$17,764$14,529
6 years$17,804$16,781$15,817$14,910$14,056$10,985
7 years$15,107$14,093$13,144$12,258$11,431$8,523
8 years$13,085$12,080$11,147$10,283$9,483$6,736
9 years$11,513$10,518$9,601$8,759$7,986$5,396
10 years$10,257$9,271$8,371$7,550$6,805$4,367
11 years$9,229$8,253$7,369$6,571$5,852$3,563
12 years$8,374$7,408$6,540$5,764$5,071$2,925
13 years$7,650$6,694$5,843$5,088$4,422$2,414
14 years$7,031$6,085$5,250$4,517$3,877$2,000
15 years$6,494$5,559$4,740$4,028$3,413$1,662
16 years$6,025$5,100$4,298$3,607$3,017$1,385
17 years$5,612$4,697$3,911$3,241$2,675$1,157
18 years$5,245$4,340$3,570$2,921$2,378$968
19 years$4,917$4,022$3,268$2,639$2,120$811
20 years$4,622$3,738$2,999$2,390$1,893$681
21 years$4,356$3,482$2,759$2,169$1,694$572
22 years$4,114$3,250$2,543$1,972$1,519$481
23 years$3,893$3,040$2,348$1,796$1,363$405
24 years$3,692$2,848$2,171$1,638$1,225$341
25 years$3,506$2,673$2,011$1,496$1,103$287
26 years$3,335$2,512$1,865$1,368$993$242
27 years$3,178$2,364$1,732$1,252$896$204
28 years$3,031$2,228$1,610$1,147$808$172
29 years$2,895$2,101$1,498$1,052$730$145
30 years$2,768$1,985$1,396$966$659$122
31 years$2,650$1,876$1,301$887$596$103
32 years$2,539$1,775$1,214$815$539$87
33 years$2,436$1,681$1,133$749$488$73
34 years$2,338$1,593$1,059$690$442$62
35 years$2,246$1,511$990$635$400$52
36 years$2,160$1,434$926$585$363$44
37 years$2,078$1,362$867$539$329$37
38 years$2,001$1,295$812$496$298$32
39 years$1,928$1,231$761$458$270$27
40 years$1,859$1,171$713$422$245$22
41 years$1,794$1,115$668$390$222$19
42 years$1,731$1,062$627$360$202$16
43 years$1,672$1,012$588$332$183$14
44 years$1,616$964$552$306$166$11
45 years$1,562$920$519$283$151$10
46 years$1,511$877$487$261$137$8
47 years$1,462$837$458$242$124$7
48 years$1,415$799$430$223$113$6
49 years$1,371$763$404$206$103$5
50 years$1,328$729$380$191$93$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $1,360,000, adding $2,333 every year, while hoping to spend $59,271 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: 27/48/25 Blend
55$1,360,000$1,360,000$1,360,000$1,360,000
56$1,501,126$1,429,046$1,407,966$1,529,839
57$1,591,178$1,436,006$1,392,069$1,559,921
58$1,688,427$1,441,320$1,373,653$1,586,892
59$1,793,547$1,444,845$1,352,571$1,614,619
60$1,907,276$1,446,429$1,328,669$1,643,206
61$2,030,425$1,445,911$1,301,786$1,672,770
62$2,163,886$1,443,118$1,271,754$1,703,448
63$2,308,640$1,437,869$1,238,396$1,735,394
64$2,465,767$1,429,970$1,201,527$1,768,784
65$2,636,452$1,419,216$1,160,956$1,803,819
66$2,822,002$1,405,388$1,116,479$1,840,725
67$3,023,851$1,388,257$1,067,886$1,879,758
68$3,243,580$1,367,578$1,014,956$1,921,209
69$3,482,927$1,343,092$957,459$1,965,405
70$3,743,805$1,314,523$895,154$2,012,715
71$4,028,320$1,281,581$827,788$2,063,554
72$4,338,789$1,243,959$755,100$2,118,389
73$4,677,763$1,201,330$676,812$2,177,743
74$5,048,048$1,153,349$592,640$2,242,205
75$5,452,738$1,099,652$502,282$2,312,432
76$5,895,234$1,039,852$405,425$2,389,163
77$6,379,284$973,540$301,743$2,473,221
78$6,909,013$900,286$190,893$2,565,531
79$7,488,964$819,632$72,520$2,667,120
80$8,124,140$731,095$0$2,779,139
81$8,820,050$634,167$0$2,917,223
82$9,582,761$528,307$0$3,090,026
83$10,418,955$412,946$0$3,279,883
84$11,335,991$287,484$0$3,488,680
85$12,341,976$151,284$0$3,718,508
86$13,445,837$3,677$0$3,971,686
87$14,657,409$0$0$4,250,782
88$15,987,525$0$0$4,641,064
89$17,448,116$0$0$5,071,999
90$19,052,329$0$0$5,545,552
91$20,814,643$0$0$6,066,027
92$22,751,011$0$0$6,638,169
93$24,879,007$0$0$7,267,201
94$27,217,991$0$0$7,958,880
95$29,789,293$0$0$8,719,549
96$32,616,413$0$0$9,556,196
97$35,725,240$0$0$10,476,519
98$39,144,299$0$0$11,489,001
99$42,905,017$0$0$12,602,988
100$47,042,021$0$0$13,828,778