Can I retire at age 56 with 1,510,000?

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 $1,510,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.6%
1 years$124,694$123,584$122,500$121,442$120,410$119,103
2 years$61,730$60,580$59,466$58,386$57,338$56,022
3 years$40,744$39,590$38,478$37,408$36,377$35,093
4 years$30,254$29,103$28,002$26,951$25,945$24,702
5 years$23,961$22,817$21,731$20,701$19,723$18,526
6 years$19,767$18,632$17,562$16,554$15,606$14,456
7 years$16,773$15,647$14,594$13,610$12,692$11,589
8 years$14,528$13,412$12,377$11,417$10,529$9,474
9 years$12,783$11,678$10,660$9,725$8,867$7,858
10 years$11,388$10,293$9,294$8,383$7,555$6,593
11 years$10,247$9,164$8,182$7,296$6,498$5,581
12 years$9,297$8,225$7,261$6,399$5,631$4,758
13 years$8,494$7,433$6,488$5,650$4,910$4,081
14 years$7,806$6,756$5,829$5,015$4,304$3,517
15 years$7,211$6,172$5,263$4,473$3,790$3,044
16 years$6,690$5,663$4,772$4,005$3,349$2,643
17 years$6,231$5,215$4,342$3,598$2,970$2,302
18 years$5,823$4,819$3,964$3,243$2,641$2,010
19 years$5,459$4,466$3,629$2,930$2,354$1,759
20 years$5,132$4,150$3,330$2,654$2,102$1,542
21 years$4,836$3,866$3,063$2,408$1,881$1,354
22 years$4,568$3,608$2,823$2,190$1,686$1,190
23 years$4,323$3,375$2,607$1,994$1,514$1,048
24 years$4,099$3,162$2,411$1,819$1,361$923
25 years$3,893$2,967$2,233$1,661$1,224$814
26 years$3,703$2,789$2,071$1,519$1,103$719
27 years$3,528$2,625$1,923$1,390$994$635
28 years$3,365$2,473$1,788$1,274$897$561
29 years$3,214$2,333$1,664$1,168$810$496
30 years$3,074$2,204$1,549$1,072$732$439
31 years$2,942$2,083$1,445$985$662$389
32 years$2,819$1,971$1,348$905$599$344
33 years$2,704$1,867$1,258$832$542$305
34 years$2,596$1,769$1,176$766$491$270
35 years$2,494$1,678$1,099$705$444$240
36 years$2,398$1,593$1,028$649$403$212
37 years$2,308$1,513$963$598$365$188
38 years$2,222$1,438$901$551$331$167
39 years$2,141$1,367$844$508$300$148
40 years$2,064$1,301$792$469$272$131
41 years$1,992$1,238$742$433$247$117
42 years$1,922$1,179$696$399$224$103
43 years$1,857$1,123$653$368$203$92
44 years$1,794$1,071$613$340$184$81
45 years$1,734$1,021$576$314$167$72
46 years$1,678$974$541$290$152$64
47 years$1,623$930$508$268$138$57
48 years$1,571$887$477$248$125$51
49 years$1,522$847$449$229$114$45
50 years$1,474$809$422$212$103$40

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $1,510,000, adding $4,684 every year, while hoping to spend $51,363 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: 81/5/14 Blend
55$1,510,000$1,510,000$1,510,000$1,510,000
56$1,668,852$1,588,822$1,565,417$1,799,050
57$1,784,425$1,612,024$1,563,208$1,908,450
58$1,910,065$1,634,642$1,559,204$2,021,360
59$2,046,744$1,656,592$1,553,291$2,143,818
60$2,195,533$1,677,787$1,545,347$2,276,757
61$2,357,610$1,698,130$1,535,248$2,421,205
62$2,534,269$1,717,522$1,522,862$2,578,295
63$2,726,938$1,735,853$1,508,051$2,749,273
64$2,937,185$1,753,010$1,490,671$2,935,515
65$3,166,738$1,768,868$1,470,569$3,138,534
66$3,417,500$1,783,296$1,447,587$3,359,999
67$3,691,563$1,796,157$1,421,560$3,601,746
68$3,991,234$1,807,299$1,392,313$3,865,802
69$4,319,050$1,816,567$1,359,665$4,154,396
70$4,677,805$1,823,791$1,323,426$4,469,988
71$5,070,577$1,828,792$1,283,397$4,815,286
72$5,500,754$1,831,382$1,239,369$5,193,274
73$5,972,068$1,831,356$1,191,125$5,607,243
74$6,488,629$1,828,502$1,138,437$6,060,816
75$7,054,962$1,822,592$1,081,068$6,557,987
76$7,676,052$1,813,384$1,018,768$7,103,158
77$8,357,391$1,800,621$951,278$7,701,179
78$9,105,025$1,784,032$878,327$8,357,394
79$9,925,616$1,763,328$799,629$9,077,694
80$10,826,502$1,738,203$714,889$9,868,569
81$11,815,765$1,708,335$623,798$10,737,173
82$12,902,309$1,673,379$526,031$11,691,390
83$14,095,942$1,632,973$421,251$12,739,907
84$15,407,470$1,586,731$309,105$13,892,297
85$16,848,797$1,534,246$189,225$15,159,113
86$18,433,037$1,475,086$61,227$16,551,983
87$20,174,638$1,408,797$0$18,083,721
88$22,089,517$1,334,894$0$19,779,709
89$24,195,212$1,252,867$0$21,654,744
90$26,511,043$1,162,177$0$23,716,890
91$29,058,298$1,062,253$0$25,985,117
92$31,860,432$952,491$0$28,480,329
93$34,943,287$832,253$0$31,225,560
94$38,335,335$700,867$0$34,246,190
95$42,067,949$557,619$0$37,570,184
96$46,175,695$401,757$0$41,228,359
97$50,696,661$232,489$0$45,254,668
98$55,672,813$48,973$0$49,686,529
99$61,150,394$0$0$54,565,171
100$67,180,355$0$0$59,944,260