Can I retire at age 56 with 1,460,000?

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 $1,460,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.2%
1 years$120,565$119,492$118,444$117,421$116,422$112,113
2 years$59,686$58,574$57,497$56,452$55,439$51,147
3 years$39,395$38,279$37,204$36,170$35,173$31,032
4 years$29,252$28,139$27,075$26,058$25,086$21,127
5 years$23,168$22,061$21,011$20,015$19,070$15,305
6 years$19,113$18,015$16,980$16,006$15,089$11,520
7 years$16,217$15,129$14,111$13,160$12,272$8,898
8 years$14,047$12,968$11,967$11,039$10,180$6,998
9 years$12,360$11,291$10,307$9,403$8,573$5,579
10 years$11,011$9,953$8,986$8,106$7,305$4,493
11 years$9,908$8,860$7,911$7,054$6,283$3,647
12 years$8,989$7,952$7,021$6,188$5,444$2,978
13 years$8,213$7,187$6,273$5,463$4,748$2,444
14 years$7,548$6,532$5,636$4,849$4,162$2,013
15 years$6,972$5,968$5,089$4,325$3,664$1,664
16 years$6,468$5,475$4,614$3,872$3,238$1,379
17 years$6,025$5,042$4,198$3,479$2,871$1,145
18 years$5,631$4,659$3,832$3,135$2,553$952
19 years$5,279$4,318$3,508$2,833$2,276$793
20 years$4,962$4,013$3,220$2,566$2,033$662
21 years$4,676$3,738$2,962$2,329$1,819$552
22 years$4,416$3,489$2,730$2,117$1,631$461
23 years$4,180$3,263$2,520$1,928$1,464$386
24 years$3,963$3,057$2,331$1,759$1,316$323
25 years$3,764$2,869$2,159$1,606$1,184$270
26 years$3,581$2,697$2,002$1,469$1,066$226
27 years$3,411$2,538$1,859$1,344$961$189
28 years$3,254$2,391$1,728$1,232$867$159
29 years$3,108$2,256$1,608$1,129$783$133
30 years$2,972$2,131$1,498$1,037$708$111
31 years$2,845$2,014$1,397$952$640$93
32 years$2,726$1,906$1,303$875$579$78
33 years$2,615$1,805$1,217$805$524$66
34 years$2,510$1,710$1,137$740$474$55
35 years$2,412$1,622$1,063$681$430$46
36 years$2,319$1,540$994$628$389$39
37 years$2,231$1,463$931$578$353$32
38 years$2,149$1,390$872$533$320$27
39 years$2,070$1,322$817$491$290$23
40 years$1,996$1,257$765$453$263$19
41 years$1,926$1,197$718$418$239$16
42 years$1,859$1,140$673$386$217$13
43 years$1,795$1,086$632$356$197$11
44 years$1,735$1,035$593$329$178$9
45 years$1,677$987$557$304$162$8
46 years$1,622$942$523$281$147$7
47 years$1,570$899$491$259$134$6
48 years$1,519$858$462$240$121$5
49 years$1,471$819$434$221$110$4
50 years$1,425$783$408$205$100$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $1,460,000, adding $4,402 every year, while hoping to spend $24,737 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: 62/21/17 Blend
55$1,460,000$1,460,000$1,460,000$1,460,000
56$1,613,461$1,536,081$1,513,451$1,706,310
57$1,751,714$1,585,029$1,537,831$1,818,281
58$1,903,239$1,635,546$1,562,200$1,937,285
59$2,069,366$1,687,683$1,586,529$2,066,617
60$2,251,554$1,741,494$1,610,791$2,207,282
61$2,451,417$1,797,030$1,634,957$2,360,388
62$2,670,726$1,854,350$1,658,993$2,527,154
63$2,911,437$1,913,510$1,682,866$2,708,920
64$3,175,702$1,974,571$1,706,540$2,907,166
65$3,465,892$2,037,593$1,729,978$3,123,518
66$3,784,619$2,102,640$1,753,137$3,359,768
67$4,134,760$2,169,779$1,775,977$3,617,888
68$4,519,484$2,239,078$1,798,452$3,900,051
69$4,942,285$2,310,605$1,820,513$4,208,650
70$5,407,008$2,384,435$1,842,110$4,546,321
71$5,917,892$2,460,642$1,863,190$4,915,967
72$6,479,606$2,539,303$1,883,696$5,320,785
73$7,097,295$2,620,498$1,903,569$5,764,298
74$7,776,626$2,704,309$1,922,746$6,250,384
75$8,523,845$2,790,823$1,941,161$6,783,319
76$9,345,831$2,880,128$1,958,744$7,367,809
77$10,250,165$2,972,313$1,975,421$8,009,043
78$11,245,200$3,067,474$1,991,115$8,712,733
79$12,340,138$3,165,708$2,005,745$9,485,174
80$13,545,119$3,267,115$2,019,224$10,333,303
81$14,871,316$3,371,799$2,031,464$11,264,759
82$16,331,041$3,479,867$2,042,368$12,287,961
83$17,937,856$3,591,430$2,051,837$13,412,185
84$19,706,711$3,706,603$2,059,766$14,647,649
85$21,654,073$3,825,504$2,066,046$16,005,612
86$23,798,090$3,948,255$2,070,560$17,498,481
87$26,158,758$4,074,983$2,073,187$19,139,924
88$28,758,113$4,205,819$2,073,801$20,945,003
89$31,620,434$4,340,897$2,072,266$22,930,314
90$34,772,474$4,480,357$2,068,443$25,114,141
91$38,243,716$4,624,344$2,062,185$27,516,634
92$42,066,644$4,773,006$2,053,338$30,159,995
93$46,277,056$4,926,498$2,041,739$33,068,686
94$50,914,398$5,084,979$2,027,220$36,269,665
95$56,022,138$5,248,613$2,009,602$39,792,635
96$61,648,172$5,417,571$1,988,700$43,670,328
97$67,845,282$5,592,029$1,964,318$47,938,810
98$74,671,632$5,772,169$1,936,254$52,637,824
99$82,191,312$5,958,179$1,904,292$57,811,165
100$90,474,950$6,150,254$1,868,209$63,507,092