Can I retire at age 56 with 1,490,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $1,490,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.9%
1 years$123,043$121,947$120,878$119,834$118,815$116,416
2 years$60,912$59,778$58,678$57,612$56,578$54,172
3 years$40,205$39,065$37,969$36,913$35,896$33,557
4 years$29,853$28,717$27,632$26,594$25,601$23,348
5 years$23,644$22,515$21,443$20,426$19,462$17,300
6 years$19,505$18,385$17,329$16,335$15,399$13,333
7 years$16,551$15,440$14,401$13,430$12,524$10,552
8 years$14,336$13,235$12,213$11,266$10,390$8,512
9 years$12,614$11,523$10,519$9,596$8,750$6,965
10 years$11,237$10,157$9,171$8,272$7,455$5,762
11 years$10,111$9,042$8,074$7,199$6,412$4,808
12 years$9,174$8,116$7,165$6,315$5,556$4,039
13 years$8,381$7,334$6,402$5,575$4,845$3,412
14 years$7,703$6,667$5,752$4,949$4,247$2,896
15 years$7,115$6,090$5,193$4,413$3,740$2,467
16 years$6,601$5,588$4,708$3,952$3,305$2,108
17 years$6,148$5,146$4,284$3,551$2,930$1,806
18 years$5,746$4,755$3,911$3,200$2,606$1,551
19 years$5,387$4,407$3,580$2,891$2,322$1,334
20 years$5,064$4,095$3,286$2,619$2,074$1,150
21 years$4,772$3,815$3,022$2,377$1,856$992
22 years$4,507$3,561$2,786$2,161$1,664$857
23 years$4,266$3,330$2,572$1,968$1,494$741
24 years$4,045$3,120$2,379$1,795$1,343$642
25 years$3,841$2,928$2,203$1,639$1,208$556
26 years$3,654$2,752$2,043$1,499$1,088$482
27 years$3,481$2,590$1,897$1,372$981$418
28 years$3,321$2,441$1,764$1,257$885$362
29 years$3,172$2,302$1,641$1,153$799$315
30 years$3,033$2,174$1,529$1,058$722$273
31 years$2,903$2,055$1,425$972$653$237
32 years$2,782$1,945$1,330$893$591$206
33 years$2,668$1,842$1,242$821$535$179
34 years$2,562$1,746$1,160$755$484$156
35 years$2,461$1,656$1,085$695$438$135
36 years$2,366$1,572$1,015$640$397$118
37 years$2,277$1,493$950$590$360$102
38 years$2,193$1,418$889$544$326$89
39 years$2,113$1,349$833$502$296$77
40 years$2,037$1,283$781$463$268$67
41 years$1,965$1,222$732$427$244$59
42 years$1,897$1,163$687$394$221$51
43 years$1,832$1,108$645$364$201$44
44 years$1,770$1,057$605$336$182$39
45 years$1,711$1,008$568$310$165$34
46 years$1,655$961$534$286$150$29
47 years$1,602$917$501$265$136$25
48 years$1,551$876$471$244$124$22
49 years$1,502$836$443$226$112$19
50 years$1,455$799$416$209$102$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $1,490,000, adding $5,210 every year, while hoping to spend $20,759 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: 29/47/24 Blend
55$1,490,000$1,490,000$1,490,000$1,490,000
56$1,647,354$1,568,384$1,545,289$1,682,689
57$1,793,297$1,623,148$1,574,969$1,765,357
58$1,953,430$1,679,899$1,604,947$1,851,990
59$2,129,179$1,738,713$1,635,212$1,944,704
60$2,322,114$1,799,669$1,665,751$2,044,035
61$2,533,965$1,862,848$1,696,548$2,150,573
62$2,766,637$1,928,335$1,727,591$2,264,965
63$3,022,229$1,996,218$1,758,860$2,387,921
64$3,303,054$2,066,590$1,790,339$2,520,221
65$3,611,658$2,139,546$1,822,008$2,662,722
66$3,950,848$2,215,185$1,853,846$2,816,363
67$4,323,716$2,293,610$1,885,831$2,982,180
68$4,733,667$2,374,929$1,917,939$3,161,307
69$5,184,455$2,459,255$1,950,144$3,354,992
70$5,680,214$2,546,703$1,982,418$3,564,607
71$6,225,499$2,637,394$2,014,732$3,791,662
72$6,825,329$2,731,456$2,047,055$4,037,813
73$7,485,234$2,829,018$2,079,353$4,304,885
74$8,211,306$2,930,218$2,111,589$4,594,883
75$9,010,259$3,035,199$2,143,727$4,910,014
76$9,889,489$3,144,107$2,175,726$5,252,704
77$10,857,147$3,257,098$2,207,542$5,625,624
78$11,922,211$3,374,332$2,239,131$6,031,710
79$13,094,578$3,495,975$2,270,443$6,474,197
80$14,385,150$3,622,203$2,301,428$6,956,641
81$15,805,940$3,753,196$2,332,030$7,482,957
82$17,370,187$3,889,143$2,362,194$8,057,456
83$19,092,475$4,030,240$2,391,857$8,684,879
84$20,988,879$4,176,694$2,420,955$9,370,450
85$23,077,109$4,328,715$2,449,421$10,119,916
86$25,376,680$4,486,528$2,477,183$10,939,606
87$27,909,097$4,650,364$2,504,164$11,836,488
88$30,698,056$4,820,463$2,530,285$12,818,233
89$33,769,670$4,997,078$2,555,462$13,893,291
90$37,152,711$5,180,469$2,579,604$15,070,963
91$40,878,886$5,370,911$2,602,620$16,361,494
92$44,983,134$5,568,687$2,624,409$17,776,164
93$49,503,955$5,774,094$2,644,868$19,327,400
94$54,483,774$5,987,441$2,663,888$21,028,884
95$59,969,344$6,209,050$2,681,352$22,895,687
96$66,012,181$6,439,258$2,697,141$24,944,409
97$72,669,055$6,678,413$2,711,127$27,193,334
98$80,002,524$6,926,881$2,723,176$29,662,601
99$88,081,526$7,185,043$2,733,147$32,374,394
100$96,982,027$7,453,295$2,740,892$35,353,148