Can I retire at age 56 with 1,500,000?

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 $1,500,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.5%
1 years$123,869$122,765$121,689$120,638$119,612$117,873
2 years$61,321$60,179$59,072$57,999$56,958$55,210
3 years$40,475$39,328$38,224$37,161$36,137$34,433
4 years$30,053$28,910$27,817$26,772$25,773$24,128
5 years$23,802$22,666$21,587$20,564$19,592$18,010
6 years$19,636$18,508$17,446$16,445$15,503$13,985
7 years$16,662$15,543$14,497$13,520$12,608$11,156
8 years$14,432$13,323$12,295$11,342$10,459$9,072
9 years$12,698$11,600$10,590$9,661$8,808$7,486
10 years$11,312$10,225$9,232$8,328$7,505$6,246
11 years$10,179$9,103$8,128$7,247$6,455$5,257
12 years$9,236$8,170$7,213$6,357$5,593$4,457
13 years$8,438$7,384$6,445$5,612$4,878$3,800
14 years$7,754$6,711$5,791$4,982$4,276$3,256
15 years$7,163$6,131$5,228$4,443$3,765$2,800
16 years$6,646$5,625$4,740$3,978$3,327$2,417
17 years$6,190$5,181$4,313$3,574$2,950$2,091
18 years$5,785$4,787$3,937$3,221$2,623$1,814
19 years$5,423$4,437$3,605$2,911$2,338$1,577
20 years$5,098$4,123$3,308$2,636$2,088$1,373
21 years$4,804$3,840$3,043$2,393$1,869$1,198
22 years$4,537$3,585$2,804$2,175$1,675$1,046
23 years$4,294$3,353$2,589$1,981$1,504$914
24 years$4,072$3,141$2,395$1,807$1,352$800
25 years$3,867$2,948$2,218$1,650$1,216$701
26 years$3,679$2,770$2,057$1,509$1,096$614
27 years$3,505$2,607$1,910$1,381$988$539
28 years$3,343$2,457$1,776$1,265$891$473
29 years$3,193$2,318$1,652$1,160$805$415
30 years$3,053$2,189$1,539$1,065$727$365
31 years$2,923$2,069$1,435$978$657$320
32 years$2,801$1,958$1,339$899$595$282
33 years$2,686$1,854$1,250$827$538$248
34 years$2,579$1,757$1,168$761$487$218
35 years$2,478$1,667$1,092$700$441$191
36 years$2,382$1,582$1,022$645$400$168
37 years$2,292$1,503$956$594$362$148
38 years$2,207$1,428$895$548$329$130
39 years$2,127$1,358$839$505$298$115
40 years$2,051$1,292$786$466$270$101
41 years$1,978$1,230$737$430$245$89
42 years$1,910$1,171$692$397$222$78
43 years$1,844$1,116$649$366$202$69
44 years$1,782$1,064$609$338$183$61
45 years$1,723$1,014$572$312$166$54
46 years$1,666$968$537$288$151$47
47 years$1,613$923$505$266$137$42
48 years$1,561$882$474$246$125$37
49 years$1,512$842$446$227$113$32
50 years$1,465$804$419$210$103$28

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $1,500,000, adding $4,079 every year, while hoping to spend $46,323 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: 68/12/20 Blend
55$1,500,000$1,500,000$1,500,000$1,500,000
56$1,657,207$1,577,707$1,554,457$1,761,408
57$1,776,955$1,605,728$1,557,245$1,859,629
58$1,907,365$1,633,569$1,558,572$1,961,259
59$2,049,475$1,661,172$1,558,343$2,071,309
60$2,204,428$1,688,476$1,556,454$2,190,607
61$2,373,483$1,715,415$1,552,799$2,320,065
62$2,558,023$1,741,915$1,547,263$2,460,688
63$2,759,574$1,767,901$1,539,728$2,613,584
64$2,979,812$1,793,291$1,530,071$2,779,975
65$3,220,586$1,817,995$1,518,162$2,961,208
66$3,483,930$1,841,920$1,503,864$3,158,766
67$3,772,081$1,864,965$1,487,034$3,374,286
68$4,087,508$1,887,022$1,467,524$3,609,571
69$4,432,923$1,907,977$1,445,176$3,866,609
70$4,811,319$1,927,705$1,419,827$4,147,592
71$5,225,988$1,946,077$1,391,305$4,454,936
72$5,680,556$1,962,952$1,359,431$4,791,303
73$6,179,018$1,978,182$1,324,017$5,159,630
74$6,725,773$1,991,608$1,284,867$5,563,153
75$7,325,666$2,003,061$1,241,774$6,005,439
76$7,984,036$2,012,362$1,194,525$6,490,422
77$8,706,760$2,019,321$1,142,895$7,022,436
78$9,500,315$2,023,733$1,086,647$7,606,260
79$10,371,835$2,025,384$1,025,538$8,247,163
80$11,329,179$2,024,044$959,310$8,950,951
81$12,381,003$2,019,471$887,695$9,724,027
82$13,536,845$2,011,404$810,412$10,573,447
83$14,807,212$1,999,572$727,170$11,506,990
84$16,203,679$1,983,682$637,661$12,533,230
85$17,738,998$1,963,427$541,567$13,661,618
86$19,427,221$1,938,480$438,554$14,902,575
87$21,283,826$1,908,493$328,274$16,267,583
88$23,325,867$1,873,101$210,363$17,769,303
89$25,572,137$1,831,914$84,441$19,421,687
90$28,043,337$1,784,520$0$21,240,117
91$30,762,279$1,730,483$0$23,252,204
92$33,754,097$1,669,343$0$25,485,900
93$37,046,484$1,600,609$0$27,943,857
94$40,669,952$1,523,765$0$30,648,875
95$44,658,122$1,438,265$0$33,626,077
96$49,048,041$1,343,531$0$36,903,152
97$53,880,528$1,238,950$0$40,510,611
98$59,200,560$1,123,877$0$44,482,075
99$65,057,698$997,628$0$48,854,597
100$71,506,553$859,482$0$53,669,008