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

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 $1,490,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.9%
1 years$123,043$121,947$120,878$119,834$118,815$114,553
2 years$60,912$59,778$58,678$57,612$56,578$52,331
3 years$40,205$39,065$37,969$36,913$35,896$31,796
4 years$29,853$28,717$27,632$26,594$25,601$21,681
5 years$23,644$22,515$21,443$20,426$19,462$15,731
6 years$19,505$18,385$17,329$16,335$15,399$11,860
7 years$16,551$15,440$14,401$13,430$12,524$9,176
8 years$14,336$13,235$12,213$11,266$10,390$7,230
9 years$12,614$11,523$10,519$9,596$8,750$5,774
10 years$11,237$10,157$9,171$8,272$7,455$4,659
11 years$10,111$9,042$8,074$7,199$6,412$3,789
12 years$9,174$8,116$7,165$6,315$5,556$3,100
13 years$8,381$7,334$6,402$5,575$4,845$2,549
14 years$7,703$6,667$5,752$4,949$4,247$2,105
15 years$7,115$6,090$5,193$4,413$3,740$1,743
16 years$6,601$5,588$4,708$3,952$3,305$1,448
17 years$6,148$5,146$4,284$3,551$2,930$1,205
18 years$5,746$4,755$3,911$3,200$2,606$1,004
19 years$5,387$4,407$3,580$2,891$2,322$839
20 years$5,064$4,095$3,286$2,619$2,074$701
21 years$4,772$3,815$3,022$2,377$1,856$586
22 years$4,507$3,561$2,786$2,161$1,664$491
23 years$4,266$3,330$2,572$1,968$1,494$412
24 years$4,045$3,120$2,379$1,795$1,343$345
25 years$3,841$2,928$2,203$1,639$1,208$290
26 years$3,654$2,752$2,043$1,499$1,088$243
27 years$3,481$2,590$1,897$1,372$981$204
28 years$3,321$2,441$1,764$1,257$885$171
29 years$3,172$2,302$1,641$1,153$799$144
30 years$3,033$2,174$1,529$1,058$722$121
31 years$2,903$2,055$1,425$972$653$102
32 years$2,782$1,945$1,330$893$591$85
33 years$2,668$1,842$1,242$821$535$72
34 years$2,562$1,746$1,160$755$484$60
35 years$2,461$1,656$1,085$695$438$51
36 years$2,366$1,572$1,015$640$397$43
37 years$2,277$1,493$950$590$360$36
38 years$2,193$1,418$889$544$326$30
39 years$2,113$1,349$833$502$296$25
40 years$2,037$1,283$781$463$268$21
41 years$1,965$1,222$732$427$244$18
42 years$1,897$1,163$687$394$221$15
43 years$1,832$1,108$645$364$201$13
44 years$1,770$1,057$605$336$182$11
45 years$1,711$1,008$568$310$165$9
46 years$1,655$961$534$286$150$8
47 years$1,602$917$501$265$136$6
48 years$1,551$876$471$244$124$5
49 years$1,502$836$443$226$112$4
50 years$1,455$799$416$209$102$4

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 $5,033 every year, while hoping to spend $45,698 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: 67/5/28 Blend
55$1,490,000$1,490,000$1,490,000$1,490,000
56$1,647,172$1,568,202$1,545,107$1,745,132
57$1,766,561$1,596,421$1,548,245$1,839,984
58$1,896,596$1,624,492$1,549,958$1,938,085
59$2,038,315$1,652,358$1,550,147$2,044,365
60$2,192,860$1,679,960$1,548,714$2,159,635
61$2,361,487$1,707,234$1,545,552$2,284,789
62$2,545,581$1,734,110$1,540,549$2,420,814
63$2,746,663$1,760,515$1,533,591$2,568,796
64$2,966,411$1,786,369$1,524,555$2,729,934
65$3,206,670$1,811,586$1,513,313$2,905,549
66$3,469,473$1,836,076$1,499,731$3,097,099
67$3,757,057$1,859,742$1,483,670$3,306,189
68$4,071,887$1,882,478$1,464,982$3,534,592
69$4,416,674$1,904,175$1,443,514$3,784,261
70$4,794,408$1,924,712$1,419,105$4,057,348
71$5,208,378$1,943,964$1,391,585$4,356,229
72$5,662,209$1,961,794$1,360,780$4,683,521
73$6,159,891$1,978,060$1,326,503$5,042,109
74$6,705,822$1,992,606$1,288,563$5,435,177
75$7,304,843$2,005,271$1,246,756$5,866,233
76$7,962,287$2,015,879$1,200,873$6,339,143
77$8,684,029$2,024,247$1,150,691$6,858,173
78$9,476,541$2,030,176$1,095,981$7,428,024
79$10,346,952$2,033,458$1,036,500$8,053,878
80$11,303,115$2,033,871$971,996$8,741,449
81$12,353,680$2,031,178$902,206$9,497,037
82$13,508,179$2,025,130$826,853$10,327,586
83$14,777,112$2,015,459$745,651$11,240,751
84$16,172,045$2,001,884$658,298$12,244,970
85$17,705,722$1,984,106$564,480$13,349,548
86$19,392,185$1,961,806$463,869$14,564,739
87$21,246,902$1,934,649$356,123$15,901,849
88$23,286,917$1,902,278$240,884$17,373,339
89$25,531,008$1,864,314$117,779$18,992,947
90$27,999,864$1,820,359$0$20,775,814
91$30,716,281$1,769,987$0$22,742,695
92$33,705,376$1,712,751$0$24,945,742
93$36,994,823$1,648,175$0$27,370,137
94$40,615,117$1,575,757$0$30,038,368
95$44,599,856$1,494,966$0$32,975,212
96$48,986,060$1,405,239$0$36,207,975
97$53,814,524$1,305,981$0$39,766,743
98$59,130,196$1,196,564$0$43,684,669
99$64,982,603$1,076,324$0$47,998,286
100$71,426,322$944,557$0$52,747,852