Can I retire at age 56 with 1,530,000?

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 $1,530,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.1%
1 years$126,346$125,221$124,123$123,051$122,004$119,934
2 years$62,548$61,383$60,254$59,159$58,097$56,018
3 years$41,284$40,114$38,988$37,904$36,859$34,835
4 years$30,655$29,488$28,373$27,308$26,288$24,336
5 years$24,278$23,119$22,019$20,975$19,984$18,108
6 years$20,029$18,878$17,795$16,774$15,813$14,016
7 years$16,995$15,854$14,787$13,791$12,860$11,142
8 years$14,721$13,590$12,541$11,569$10,669$9,030
9 years$12,952$11,832$10,801$9,854$8,984$7,424
10 years$11,539$10,430$9,417$8,494$7,655$6,172
11 years$10,383$9,285$8,291$7,392$6,584$5,176
12 years$9,420$8,334$7,358$6,484$5,705$4,371
13 years$8,606$7,531$6,574$5,725$4,975$3,712
14 years$7,910$6,846$5,906$5,082$4,361$3,168
15 years$7,306$6,254$5,333$4,532$3,840$2,713
16 years$6,778$5,738$4,835$4,058$3,394$2,332
17 years$6,313$5,284$4,399$3,646$3,009$2,009
18 years$5,901$4,883$4,016$3,286$2,676$1,736
19 years$5,532$4,525$3,677$2,969$2,385$1,502
20 years$5,200$4,205$3,374$2,689$2,130$1,302
21 years$4,900$3,917$3,104$2,440$1,906$1,130
22 years$4,628$3,656$2,860$2,219$1,709$983
23 years$4,380$3,420$2,641$2,021$1,534$855
24 years$4,153$3,204$2,443$1,843$1,379$745
25 years$3,945$3,007$2,262$1,683$1,241$649
26 years$3,752$2,826$2,098$1,539$1,117$566
27 years$3,575$2,660$1,948$1,409$1,007$494
28 years$3,410$2,506$1,811$1,291$909$432
29 years$3,257$2,364$1,686$1,184$821$377
30 years$3,114$2,233$1,570$1,086$742$330
31 years$2,981$2,111$1,464$998$671$288
32 years$2,857$1,997$1,366$917$607$252
33 years$2,740$1,891$1,275$843$549$220
34 years$2,630$1,793$1,191$776$497$193
35 years$2,527$1,700$1,114$714$450$169
36 years$2,430$1,614$1,042$658$408$148
37 years$2,338$1,533$975$606$370$129
38 years$2,252$1,457$913$559$335$113
39 years$2,170$1,385$856$515$304$99
40 years$2,092$1,318$802$475$276$87
41 years$2,018$1,254$752$438$250$76
42 years$1,948$1,195$705$404$227$67
43 years$1,881$1,138$662$373$206$58
44 years$1,818$1,085$621$345$187$51
45 years$1,757$1,035$583$318$170$45
46 years$1,700$987$548$294$154$39
47 years$1,645$942$515$272$140$34
48 years$1,592$899$484$251$127$30
49 years$1,542$859$455$232$115$26
50 years$1,494$820$428$214$105$23

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $1,530,000, adding $2,848 every year, while hoping to spend $56,491 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: 81/11/8 Blend
55$1,530,000$1,530,000$1,530,000$1,530,000
56$1,688,998$1,607,908$1,584,193$1,823,884
57$1,801,169$1,626,589$1,577,157$1,931,302
58$1,922,889$1,644,293$1,567,993$2,041,409
59$2,055,072$1,660,911$1,556,568$2,160,548
60$2,198,722$1,676,329$1,542,746$2,289,592
61$2,354,947$1,690,424$1,526,384$2,429,503
62$2,524,964$1,703,067$1,507,329$2,581,341
63$2,710,111$1,714,118$1,485,426$2,746,272
64$2,911,863$1,723,430$1,460,508$2,925,581
65$3,131,841$1,730,846$1,432,403$3,120,683
66$3,371,830$1,736,199$1,400,930$3,333,138
67$3,633,795$1,739,311$1,365,899$3,564,663
68$3,919,899$1,739,994$1,327,114$3,817,151
69$4,232,522$1,738,047$1,284,365$4,092,687
70$4,574,286$1,733,258$1,237,438$4,393,569
71$4,948,076$1,725,401$1,186,105$4,722,327
72$5,357,070$1,714,236$1,130,130$5,081,752
73$5,804,766$1,699,508$1,069,265$5,474,917
74$6,295,018$1,680,950$1,003,251$5,905,208
75$6,832,068$1,658,274$931,818$6,376,357
76$7,420,587$1,631,179$854,682$6,892,478
77$8,065,723$1,599,342$771,550$7,458,102
78$8,773,142$1,562,425$682,112$8,078,223
79$9,549,087$1,520,068$586,047$8,758,345
80$10,400,432$1,471,889$483,018$9,504,535
81$11,334,750$1,417,486$372,673$10,323,475
82$12,360,383$1,356,431$254,646$11,222,534
83$13,486,519$1,288,274$128,554$12,209,829
84$14,723,281$1,212,536$0$13,294,307
85$16,081,818$1,128,713$0$14,486,342
86$17,574,415$1,036,271$0$15,808,033
87$19,214,602$934,645$0$17,260,407
88$21,017,287$823,238$0$18,856,703
89$22,998,894$701,421$0$20,611,509
90$25,177,517$568,527$0$22,540,897
91$27,573,091$423,852$0$24,662,583
92$30,207,579$266,653$0$26,996,084
93$33,105,178$96,145$0$29,562,909
94$36,292,550$0$0$32,386,761
95$39,799,070$0$0$35,504,472
96$43,657,101$0$0$38,947,568
97$47,902,306$0$0$42,736,241
98$52,573,975$0$0$46,905,563
99$57,715,402$0$0$51,494,178
100$63,374,289$0$0$56,544,666