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%17%
1 years$125,520$124,402$123,311$122,247$121,207$117,752
2 years$62,139$60,981$59,860$58,772$57,718$54,264
3 years$41,014$39,852$38,733$37,656$36,618$33,274
4 years$30,454$29,295$28,188$27,129$26,117$22,907
5 years$24,120$22,968$21,875$20,838$19,853$16,787
6 years$19,898$18,755$17,678$16,664$15,709$12,790
7 years$16,884$15,751$14,691$13,700$12,776$10,003
8 years$14,624$13,501$12,459$11,493$10,599$7,971
9 years$12,868$11,755$10,731$9,789$8,926$6,440
10 years$11,463$10,362$9,355$8,439$7,605$5,258
11 years$10,315$9,224$8,236$7,344$6,541$4,329
12 years$9,359$8,279$7,310$6,442$5,668$3,587
13 years$8,550$7,482$6,531$5,687$4,943$2,988
14 years$7,858$6,801$5,868$5,048$4,333$2,500
15 years$7,258$6,213$5,298$4,502$3,815$2,099
16 years$6,734$5,700$4,803$4,031$3,372$1,767
17 years$6,272$5,250$4,371$3,622$2,989$1,491
18 years$5,862$4,851$3,990$3,264$2,658$1,261
19 years$5,495$4,496$3,653$2,950$2,369$1,068
20 years$5,166$4,178$3,352$2,671$2,116$906
21 years$4,868$3,891$3,083$2,424$1,894$769
22 years$4,598$3,632$2,842$2,204$1,698$654
23 years$4,352$3,397$2,624$2,008$1,524$556
24 years$4,126$3,183$2,427$1,831$1,370$473
25 years$3,919$2,987$2,248$1,672$1,232$403
26 years$3,728$2,807$2,084$1,529$1,110$344
27 years$3,551$2,642$1,936$1,399$1,001$293
28 years$3,388$2,490$1,799$1,282$903$250
29 years$3,236$2,349$1,675$1,176$815$213
30 years$3,094$2,218$1,560$1,079$737$182
31 years$2,962$2,097$1,454$991$666$155
32 years$2,838$1,984$1,357$911$603$133
33 years$2,722$1,879$1,267$838$545$113
34 years$2,613$1,781$1,184$771$494$97
35 years$2,511$1,689$1,107$709$447$83
36 years$2,414$1,603$1,035$653$405$71
37 years$2,323$1,523$969$602$367$60
38 years$2,237$1,447$907$555$333$51
39 years$2,155$1,376$850$512$302$44
40 years$2,078$1,309$797$472$274$38
41 years$2,005$1,246$747$435$248$32
42 years$1,935$1,187$701$402$225$27
43 years$1,869$1,131$658$371$205$23
44 years$1,806$1,078$617$342$186$20
45 years$1,746$1,028$580$316$169$17
46 years$1,689$981$544$292$153$15
47 years$1,634$936$511$270$139$13
48 years$1,582$893$481$249$126$11
49 years$1,532$853$452$231$115$9
50 years$1,484$815$425$213$104$8

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 $3,759 every year, while hoping to spend $40,536 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: 64/16/20 Blend
55$1,520,000$1,520,000$1,520,000$1,520,000
56$1,678,917$1,598,357$1,574,797$1,777,576
57$1,807,037$1,633,547$1,584,423$1,879,584
58$1,946,866$1,669,102$1,593,013$1,986,055
59$2,099,557$1,704,998$1,600,489$2,101,426
60$2,266,376$1,741,208$1,606,770$2,226,571
61$2,448,720$1,777,700$1,611,770$2,362,452
62$2,648,124$1,814,443$1,615,399$2,510,128
63$2,866,282$1,851,399$1,617,564$2,670,767
64$3,105,055$1,888,530$1,618,165$2,845,656
65$3,366,495$1,925,793$1,617,098$3,036,213
66$3,652,861$1,963,140$1,614,254$3,244,001
67$3,966,640$2,000,521$1,609,519$3,470,741
68$4,310,572$2,037,881$1,602,772$3,718,333
69$4,687,674$2,075,161$1,593,889$3,988,869
70$5,101,269$2,112,296$1,582,737$4,284,655
71$5,555,018$2,149,218$1,569,178$4,608,231
72$6,052,952$2,185,852$1,553,067$4,962,400
73$6,599,511$2,222,117$1,534,253$5,350,248
74$7,199,589$2,257,928$1,512,578$5,775,179
75$7,858,572$2,293,192$1,487,875$6,240,943
76$8,582,397$2,327,809$1,459,969$6,751,674
77$9,377,604$2,361,674$1,428,680$7,311,929
78$10,251,395$2,394,672$1,393,817$7,926,730
79$11,211,707$2,426,680$1,355,179$8,601,613
80$12,267,283$2,457,570$1,312,560$9,342,680
81$13,427,755$2,487,200$1,265,740$10,156,654
82$14,703,736$2,515,422$1,214,492$11,050,950
83$16,106,917$2,542,077$1,158,577$12,033,737
84$17,650,179$2,566,996$1,097,746$13,114,020
85$19,347,715$2,589,996$1,031,738$14,301,726
86$21,215,162$2,610,886$960,281$15,607,793
87$23,269,749$2,629,460$883,091$17,044,281
88$25,530,459$2,645,500$799,871$18,624,480
89$28,018,208$2,658,772$710,309$20,363,038
90$30,756,042$2,669,029$614,081$22,276,102
91$33,769,355$2,676,007$510,849$24,381,466
92$37,086,126$2,679,428$400,259$26,698,745
93$40,737,185$2,678,994$281,942$29,249,556
94$44,756,502$2,674,390$155,512$32,057,725
95$49,181,510$2,665,279$20,566$35,149,514
96$54,053,454$2,651,307$0$38,553,865
97$59,417,781$2,632,097$0$42,329,023
98$65,324,573$2,607,248$0$46,490,199
99$71,829,013$2,576,336$0$51,071,847
100$78,991,907$2,538,911$0$56,116,777