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%15.8%
1 years$124,694$123,584$122,500$121,442$120,410$117,546
2 years$61,730$60,580$59,466$58,386$57,338$54,470
3 years$40,744$39,590$38,478$37,408$36,377$33,595
4 years$30,254$29,103$28,002$26,951$25,945$23,268
5 years$23,961$22,817$21,731$20,701$19,723$17,160
6 years$19,767$18,632$17,562$16,554$15,606$13,160
7 years$16,773$15,647$14,594$13,610$12,692$10,362
8 years$14,528$13,412$12,377$11,417$10,529$8,315
9 years$12,783$11,678$10,660$9,725$8,867$6,767
10 years$11,388$10,293$9,294$8,383$7,555$5,567
11 years$10,247$9,164$8,182$7,296$6,498$4,619
12 years$9,297$8,225$7,261$6,399$5,631$3,858
13 years$8,494$7,433$6,488$5,650$4,910$3,240
14 years$7,806$6,756$5,829$5,015$4,304$2,732
15 years$7,211$6,172$5,263$4,473$3,790$2,313
16 years$6,690$5,663$4,772$4,005$3,349$1,964
17 years$6,231$5,215$4,342$3,598$2,970$1,672
18 years$5,823$4,819$3,964$3,243$2,641$1,426
19 years$5,459$4,466$3,629$2,930$2,354$1,219
20 years$5,132$4,150$3,330$2,654$2,102$1,043
21 years$4,836$3,866$3,063$2,408$1,881$894
22 years$4,568$3,608$2,823$2,190$1,686$767
23 years$4,323$3,375$2,607$1,994$1,514$659
24 years$4,099$3,162$2,411$1,819$1,361$566
25 years$3,893$2,967$2,233$1,661$1,224$487
26 years$3,703$2,789$2,071$1,519$1,103$419
27 years$3,528$2,625$1,923$1,390$994$361
28 years$3,365$2,473$1,788$1,274$897$311
29 years$3,214$2,333$1,664$1,168$810$268
30 years$3,074$2,204$1,549$1,072$732$231
31 years$2,942$2,083$1,445$985$662$199
32 years$2,819$1,971$1,348$905$599$171
33 years$2,704$1,867$1,258$832$542$148
34 years$2,596$1,769$1,176$766$491$128
35 years$2,494$1,678$1,099$705$444$110
36 years$2,398$1,593$1,028$649$403$95
37 years$2,308$1,513$963$598$365$82
38 years$2,222$1,438$901$551$331$71
39 years$2,141$1,367$844$508$300$61
40 years$2,064$1,301$792$469$272$53
41 years$1,992$1,238$742$433$247$45
42 years$1,922$1,179$696$399$224$39
43 years$1,857$1,123$653$368$203$34
44 years$1,794$1,071$613$340$184$29
45 years$1,734$1,021$576$314$167$25
46 years$1,678$974$541$290$152$22
47 years$1,623$930$508$268$138$19
48 years$1,571$887$477$248$125$16
49 years$1,522$847$449$229$114$14
50 years$1,474$809$422$212$103$12

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 $4,309 every year, while hoping to spend $32,554 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: 57/37/6 Blend
55$1,510,000$1,510,000$1,510,000$1,510,000
56$1,668,465$1,588,435$1,565,030$1,761,248
57$1,804,011$1,631,631$1,582,821$1,867,318
58$1,952,292$1,675,852$1,600,117$1,978,781
59$2,114,572$1,721,116$1,616,867$2,099,411
60$2,292,244$1,767,436$1,633,018$2,230,084
61$2,486,840$1,814,828$1,648,512$2,371,767
62$2,700,051$1,863,307$1,663,290$2,525,522
63$2,933,735$1,912,888$1,677,289$2,692,520
64$3,189,940$1,963,584$1,690,442$2,874,048
65$3,470,923$2,015,408$1,702,681$3,071,524
66$3,779,167$2,068,374$1,713,931$3,286,509
67$4,117,410$2,122,492$1,724,116$3,520,723
68$4,488,667$2,177,775$1,733,154$3,776,057
69$4,896,256$2,234,231$1,740,961$4,054,598
70$5,343,837$2,291,871$1,747,445$4,358,639
71$5,835,438$2,350,703$1,752,515$4,690,710
72$6,375,498$2,410,733$1,756,069$5,053,595
73$6,968,907$2,471,967$1,758,006$5,450,361
74$7,621,052$2,534,409$1,758,215$5,884,388
75$8,337,867$2,598,062$1,756,583$6,359,398
76$9,125,890$2,662,928$1,752,989$6,879,489
77$9,992,324$2,729,005$1,747,308$7,449,180
78$10,945,106$2,796,292$1,739,408$8,073,445
79$11,992,980$2,864,782$1,729,150$8,757,767
80$13,145,577$2,934,470$1,716,390$9,508,186
81$14,413,513$3,005,347$1,700,977$10,331,355
82$15,808,482$3,077,399$1,682,750$11,234,605
83$17,343,368$3,150,613$1,661,543$12,226,016
84$19,032,369$3,224,970$1,637,182$13,314,486
85$20,891,128$3,300,451$1,609,484$14,509,822
86$22,936,880$3,377,029$1,578,259$15,822,831
87$25,188,616$3,454,678$1,543,305$17,265,417
88$27,667,263$3,533,366$1,504,414$18,850,700
89$30,395,878$3,613,055$1,461,367$20,593,136
90$33,399,869$3,693,706$1,413,933$22,508,655
91$36,707,230$3,775,272$1,361,875$24,614,809
92$40,348,811$3,857,703$1,304,940$26,930,940
93$44,358,602$3,940,943$1,242,868$29,478,362
94$48,774,059$4,024,929$1,175,384$32,280,561
95$53,636,456$4,109,594$1,102,202$35,363,418
96$58,991,271$4,194,861$1,023,023$38,755,455
97$64,888,621$4,280,649$937,535$42,488,098
98$71,383,728$4,366,868$845,409$46,595,981
99$78,537,444$4,453,421$746,307$51,117,270
100$86,416,826$4,540,201$639,870$56,094,020