Can I retire at age 56 with 1,520,000?

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 $1,520,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.1%
1 years$125,520$124,402$123,311$122,247$121,207$118,663
2 years$62,139$60,981$59,860$58,772$57,718$55,166
3 years$41,014$39,852$38,733$37,656$36,618$34,140
4 years$30,454$29,295$28,188$27,129$26,117$23,729
5 years$24,120$22,968$21,875$20,838$19,853$17,565
6 years$19,898$18,755$17,678$16,664$15,709$13,521
7 years$16,884$15,751$14,691$13,700$12,776$10,689
8 years$14,624$13,501$12,459$11,493$10,599$8,613
9 years$12,868$11,755$10,731$9,789$8,926$7,039
10 years$11,463$10,362$9,355$8,439$7,605$5,816
11 years$10,315$9,224$8,236$7,344$6,541$4,847
12 years$9,359$8,279$7,310$6,442$5,668$4,066
13 years$8,550$7,482$6,531$5,687$4,943$3,431
14 years$7,858$6,801$5,868$5,048$4,333$2,908
15 years$7,258$6,213$5,298$4,502$3,815$2,474
16 years$6,734$5,700$4,803$4,031$3,372$2,111
17 years$6,272$5,250$4,371$3,622$2,989$1,806
18 years$5,862$4,851$3,990$3,264$2,658$1,549
19 years$5,495$4,496$3,653$2,950$2,369$1,330
20 years$5,166$4,178$3,352$2,671$2,116$1,145
21 years$4,868$3,891$3,083$2,424$1,894$986
22 years$4,598$3,632$2,842$2,204$1,698$851
23 years$4,352$3,397$2,624$2,008$1,524$735
24 years$4,126$3,183$2,427$1,831$1,370$635
25 years$3,919$2,987$2,248$1,672$1,232$549
26 years$3,728$2,807$2,084$1,529$1,110$475
27 years$3,551$2,642$1,936$1,399$1,001$411
28 years$3,388$2,490$1,799$1,282$903$356
29 years$3,236$2,349$1,675$1,176$815$309
30 years$3,094$2,218$1,560$1,079$737$268
31 years$2,962$2,097$1,454$991$666$232
32 years$2,838$1,984$1,357$911$603$201
33 years$2,722$1,879$1,267$838$545$175
34 years$2,613$1,781$1,184$771$494$151
35 years$2,511$1,689$1,107$709$447$131
36 years$2,414$1,603$1,035$653$405$114
37 years$2,323$1,523$969$602$367$99
38 years$2,237$1,447$907$555$333$86
39 years$2,155$1,376$850$512$302$75
40 years$2,078$1,309$797$472$274$65
41 years$2,005$1,246$747$435$248$56
42 years$1,935$1,187$701$402$225$49
43 years$1,869$1,131$658$371$205$42
44 years$1,806$1,078$617$342$186$37
45 years$1,746$1,028$580$316$169$32
46 years$1,689$981$544$292$153$28
47 years$1,634$936$511$270$139$24
48 years$1,582$893$481$249$126$21
49 years$1,532$853$452$231$115$18
50 years$1,484$815$425$213$104$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $1,520,000, adding $3,746 every year, while hoping to spend $39,798 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: 26/44/30 Blend
55$1,520,000$1,520,000$1,520,000$1,520,000
56$1,678,904$1,598,344$1,574,784$1,706,808
57$1,807,807$1,634,318$1,585,194$1,766,260
58$1,948,525$1,670,721$1,594,620$1,826,380
59$2,102,220$1,707,532$1,602,985$1,890,081
60$2,270,173$1,744,727$1,610,211$1,957,694
61$2,453,793$1,782,281$1,616,216$2,029,585
62$2,654,632$1,820,165$1,620,911$2,106,159
63$2,874,399$1,858,348$1,624,207$2,187,862
64$3,114,976$1,896,795$1,626,006$2,275,189
65$3,378,435$1,935,469$1,626,208$2,368,685
66$3,667,056$1,974,328$1,624,707$2,468,950
67$3,983,354$2,013,328$1,621,393$2,576,652
68$4,330,095$2,052,421$1,616,148$2,692,523
69$4,710,328$2,091,552$1,608,852$2,817,376
70$5,127,409$2,130,666$1,599,376$2,952,106
71$5,585,036$2,169,700$1,587,587$3,097,702
72$6,087,282$2,208,587$1,573,343$3,255,258
73$6,638,633$2,247,257$1,556,499$3,425,980
74$7,244,031$2,285,630$1,536,899$3,611,201
75$7,908,920$2,323,623$1,514,383$3,812,391
76$8,639,296$2,361,147$1,488,781$4,031,176
77$9,441,766$2,398,105$1,459,917$4,269,349
78$10,323,608$2,434,394$1,427,606$4,528,890
79$11,292,840$2,469,903$1,391,654$4,811,985
80$12,358,294$2,504,513$1,351,859$5,121,048
81$13,529,702$2,538,096$1,308,009$5,458,744
82$14,817,786$2,570,517$1,259,882$5,828,011
83$16,234,359$2,601,631$1,207,246$6,232,097
84$17,792,434$2,631,281$1,149,859$6,674,583
85$19,506,351$2,659,303$1,087,469$7,159,423
86$21,391,909$2,685,520$1,019,809$7,690,981
87$23,466,516$2,709,742$946,604$8,274,070
88$25,749,350$2,731,768$867,565$8,914,005
89$28,261,544$2,751,386$782,389$9,616,648
90$31,026,384$2,768,366$690,762$10,388,467
91$34,069,526$2,782,466$592,352$11,236,600
92$37,419,239$2,793,429$486,818$12,168,921
93$41,106,673$2,800,979$373,798$13,194,118
94$45,166,152$2,804,825$252,919$14,321,773
95$49,635,496$2,804,658$123,788$15,562,459
96$54,556,378$2,800,148$0$16,927,839
97$59,974,720$2,790,945$0$18,435,262
98$65,941,120$2,776,680$0$20,137,009
99$72,511,335$2,756,959$0$22,009,206
100$79,746,806$2,731,365$0$24,069,264