Can I retire at age 56 with 1,390,000?

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 $1,390,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.1%
1 years$114,785$113,762$112,765$111,791$110,841$106,780
2 years$56,824$55,766$54,740$53,746$52,781$48,736
3 years$37,507$36,444$35,421$34,435$33,487$29,583
4 years$27,850$26,790$25,777$24,809$23,883$20,151
5 years$22,057$21,004$20,004$19,056$18,155$14,605
6 years$18,196$17,151$16,166$15,239$14,366$11,000
7 years$15,440$14,403$13,434$12,529$11,683$8,501
8 years$13,374$12,346$11,393$10,510$9,692$6,690
9 years$11,767$10,750$9,813$8,952$8,162$5,337
10 years$10,483$9,475$8,555$7,717$6,955$4,300
11 years$9,433$8,435$7,532$6,716$5,981$3,493
12 years$8,558$7,571$6,684$5,891$5,183$2,854
13 years$7,819$6,842$5,972$5,201$4,520$2,344
14 years$7,186$6,219$5,366$4,617$3,962$1,932
15 years$6,637$5,681$4,845$4,117$3,489$1,598
16 years$6,158$5,213$4,392$3,687$3,083$1,325
17 years$5,736$4,801$3,997$3,312$2,734$1,101
18 years$5,361$4,436$3,649$2,985$2,431$917
19 years$5,025$4,111$3,340$2,697$2,167$764
20 years$4,724$3,820$3,065$2,443$1,935$638
21 years$4,452$3,559$2,820$2,217$1,732$533
22 years$4,205$3,322$2,599$2,016$1,552$446
23 years$3,979$3,107$2,399$1,836$1,393$373
24 years$3,773$2,911$2,219$1,674$1,252$312
25 years$3,584$2,732$2,055$1,529$1,127$261
26 years$3,409$2,567$1,906$1,398$1,015$219
27 years$3,248$2,416$1,770$1,280$915$184
28 years$3,098$2,277$1,646$1,173$826$154
29 years$2,959$2,148$1,531$1,075$746$129
30 years$2,829$2,028$1,426$987$674$108
31 years$2,709$1,918$1,330$906$609$91
32 years$2,595$1,814$1,241$833$551$76
33 years$2,489$1,718$1,158$766$499$64
34 years$2,390$1,628$1,082$705$452$54
35 years$2,296$1,545$1,012$649$409$45
36 years$2,208$1,466$947$597$371$38
37 years$2,124$1,392$886$551$336$32
38 years$2,046$1,323$830$507$304$27
39 years$1,971$1,258$777$468$276$22
40 years$1,900$1,197$729$432$250$19
41 years$1,833$1,140$683$398$227$16
42 years$1,770$1,085$641$367$206$13
43 years$1,709$1,034$601$339$187$11
44 years$1,652$986$565$313$170$9
45 years$1,597$940$530$289$154$8
46 years$1,544$897$498$267$140$7
47 years$1,494$856$468$247$127$6
48 years$1,447$817$440$228$115$5
49 years$1,401$780$413$211$105$4
50 years$1,357$745$388$195$95$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $1,390,000, adding $5,496 every year, while hoping to spend $59,146 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: 45/36/19 Blend
55$1,390,000$1,390,000$1,390,000$1,390,000
56$1,537,449$1,463,779$1,442,234$1,598,011
57$1,631,338$1,472,573$1,427,618$1,649,817
58$1,732,821$1,479,816$1,410,530$1,699,660
59$1,842,611$1,485,369$1,390,825$1,752,476
60$1,961,490$1,489,085$1,368,350$1,808,565
61$2,090,320$1,490,808$1,342,947$1,868,266
62$2,230,045$1,490,370$1,314,449$1,931,952
63$2,381,708$1,487,597$1,282,681$2,000,038
64$2,546,453$1,482,299$1,247,462$2,072,985
65$2,725,539$1,474,280$1,208,599$2,151,306
66$2,920,350$1,463,326$1,165,894$2,235,569
67$3,132,413$1,449,216$1,119,138$2,326,404
68$3,363,402$1,431,711$1,068,113$2,424,510
69$3,615,164$1,410,559$1,012,589$2,530,663
70$3,889,729$1,385,496$952,330$2,645,723
71$4,189,334$1,356,237$887,085$2,770,644
72$4,516,438$1,322,485$816,594$2,906,480
73$4,873,750$1,283,922$740,586$3,054,404
74$5,264,252$1,240,214$658,775$3,215,711
75$5,691,227$1,191,005$570,865$3,391,837
76$6,158,289$1,135,921$476,545$3,584,372
77$6,669,417$1,074,564$375,493$3,795,076
78$7,228,995$1,006,515$267,369$4,025,899
79$7,841,847$931,329$151,821$4,278,995
80$8,513,289$848,537$28,480$4,556,752
81$9,249,172$757,643$0$4,861,808
82$10,055,942$658,122$0$5,217,995
83$10,940,699$549,421$0$5,615,151
84$11,911,260$430,953$0$6,051,153
85$12,976,240$302,100$0$6,530,037
86$14,145,123$162,210$0$7,056,261
87$15,428,359$10,592$0$7,634,745
88$16,837,459$0$0$8,270,921
89$18,385,103$0$0$9,031,588
90$20,085,258$0$0$9,871,999
91$21,953,313$0$0$10,795,587
92$24,006,219$0$0$11,810,754
93$26,262,652$0$0$12,926,761
94$28,743,187$0$0$14,153,806
95$31,470,492$0$0$15,503,128
96$34,469,540$0$0$16,987,109
97$37,767,846$0$0$18,619,389
98$41,395,725$0$0$20,414,999
99$45,386,578$0$0$22,390,499
100$49,777,205$0$0$24,564,135