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%15.5%
1 years$123,869$122,765$121,689$120,638$119,612$116,911
2 years$61,321$60,179$59,072$57,999$56,958$54,251
3 years$40,475$39,328$38,224$37,161$36,137$33,508
4 years$30,053$28,910$27,817$26,772$25,773$23,243
5 years$23,802$22,666$21,587$20,564$19,592$17,169
6 years$19,636$18,508$17,446$16,445$15,503$13,188
7 years$16,662$15,543$14,497$13,520$12,608$10,402
8 years$14,432$13,323$12,295$11,342$10,459$8,362
9 years$12,698$11,600$10,590$9,661$8,808$6,818
10 years$11,312$10,225$9,232$8,328$7,505$5,619
11 years$10,179$9,103$8,128$7,247$6,455$4,671
12 years$9,236$8,170$7,213$6,357$5,593$3,909
13 years$8,438$7,384$6,445$5,612$4,878$3,289
14 years$7,754$6,711$5,791$4,982$4,276$2,780
15 years$7,163$6,131$5,228$4,443$3,765$2,358
16 years$6,646$5,625$4,740$3,978$3,327$2,007
17 years$6,190$5,181$4,313$3,574$2,950$1,712
18 years$5,785$4,787$3,937$3,221$2,623$1,464
19 years$5,423$4,437$3,605$2,911$2,338$1,254
20 years$5,098$4,123$3,308$2,636$2,088$1,075
21 years$4,804$3,840$3,043$2,393$1,869$924
22 years$4,537$3,585$2,804$2,175$1,675$794
23 years$4,294$3,353$2,589$1,981$1,504$684
24 years$4,072$3,141$2,395$1,807$1,352$589
25 years$3,867$2,948$2,218$1,650$1,216$508
26 years$3,679$2,770$2,057$1,509$1,096$438
27 years$3,505$2,607$1,910$1,381$988$378
28 years$3,343$2,457$1,776$1,265$891$326
29 years$3,193$2,318$1,652$1,160$805$282
30 years$3,053$2,189$1,539$1,065$727$244
31 years$2,923$2,069$1,435$978$657$210
32 years$2,801$1,958$1,339$899$595$182
33 years$2,686$1,854$1,250$827$538$157
34 years$2,579$1,757$1,168$761$487$136
35 years$2,478$1,667$1,092$700$441$118
36 years$2,382$1,582$1,022$645$400$102
37 years$2,292$1,503$956$594$362$88
38 years$2,207$1,428$895$548$329$76
39 years$2,127$1,358$839$505$298$66
40 years$2,051$1,292$786$466$270$57
41 years$1,978$1,230$737$430$245$49
42 years$1,910$1,171$692$397$222$43
43 years$1,844$1,116$649$366$202$37
44 years$1,782$1,064$609$338$183$32
45 years$1,723$1,014$572$312$166$28
46 years$1,666$968$537$288$151$24
47 years$1,613$923$505$266$137$21
48 years$1,561$882$474$246$125$18
49 years$1,512$842$446$227$113$16
50 years$1,465$804$419$210$103$13

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 $3,068 every year, while hoping to spend $56,171 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: 75/8/17 Blend
55$1,500,000$1,500,000$1,500,000$1,500,000
56$1,656,165$1,576,665$1,553,415$1,773,788
57$1,765,328$1,594,156$1,545,689$1,869,542
58$1,883,743$1,610,621$1,535,821$1,967,222
59$2,012,295$1,625,952$1,523,681$2,072,791
60$2,151,956$1,640,030$1,509,131$2,187,018
61$2,303,796$1,652,732$1,492,028$2,310,753
62$2,468,993$1,663,926$1,472,220$2,444,931
63$2,648,841$1,673,469$1,449,550$2,590,583
64$2,844,766$1,681,212$1,423,854$2,748,845
65$3,058,337$1,686,996$1,394,957$2,920,971
66$3,291,279$1,690,650$1,362,680$3,108,341
67$3,545,492$1,691,995$1,326,832$3,312,477
68$3,823,068$1,690,838$1,287,217$3,535,057
69$4,126,308$1,686,977$1,243,626$3,777,931
70$4,457,747$1,680,195$1,195,844$4,043,136
71$4,820,176$1,670,263$1,143,643$4,332,922
72$5,216,667$1,656,938$1,086,787$4,649,764
73$5,650,601$1,639,963$1,025,029$4,996,394
74$6,125,705$1,619,064$958,110$5,375,822
75$6,646,080$1,593,951$885,760$5,791,367
76$7,216,243$1,564,317$807,696$6,246,688
77$7,841,168$1,529,837$723,622$6,745,817
78$8,526,336$1,490,168$633,232$7,293,199
79$9,277,780$1,444,943$536,203$7,893,735
80$10,102,146$1,393,778$432,198$8,552,828
81$11,006,756$1,336,264$320,868$9,276,432
82$11,999,673$1,271,969$201,845$10,071,112
83$13,089,780$1,200,436$74,747$10,944,103
84$14,286,861$1,121,181$0$11,903,383
85$15,601,694$1,033,693$0$12,968,789
86$17,046,155$937,431$0$14,154,156
87$18,633,323$831,825$0$15,456,673
88$20,377,608$716,271$0$16,888,200
89$22,294,886$590,131$0$18,461,804
90$24,402,648$452,731$0$20,191,883
91$26,720,163$303,359$0$22,094,305
92$29,268,660$141,264$0$24,186,550
93$32,071,530$0$0$26,487,886
94$35,154,542$0$0$29,022,562
95$38,546,091$0$0$31,824,648
96$42,277,460$0$0$34,907,563
97$46,383,119$0$0$38,299,795
98$50,901,045$0$0$42,032,732
99$55,873,085$0$0$46,140,958
100$61,345,348$0$0$50,662,582