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

Use the below retirement simulation to view the chances of a successful retirement.
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%13.3%
1 years$126,346$125,221$124,123$123,051$122,004$120,330
2 years$62,548$61,383$60,254$59,159$58,097$56,414
3 years$41,284$40,114$38,988$37,904$36,859$35,218
4 years$30,655$29,488$28,373$27,308$26,288$24,703
5 years$24,278$23,119$22,019$20,975$19,984$18,458
6 years$20,029$18,878$17,795$16,774$15,813$14,349
7 years$16,995$15,854$14,787$13,791$12,860$11,459
8 years$14,721$13,590$12,541$11,569$10,669$9,329
9 years$12,952$11,832$10,801$9,854$8,984$7,707
10 years$11,539$10,430$9,417$8,494$7,655$6,438
11 years$10,383$9,285$8,291$7,392$6,584$5,426
12 years$9,420$8,334$7,358$6,484$5,705$4,606
13 years$8,606$7,531$6,574$5,725$4,975$3,932
14 years$7,910$6,846$5,906$5,082$4,361$3,373
15 years$7,306$6,254$5,333$4,532$3,840$2,906
16 years$6,778$5,738$4,835$4,058$3,394$2,511
17 years$6,313$5,284$4,399$3,646$3,009$2,176
18 years$5,901$4,883$4,016$3,286$2,676$1,891
19 years$5,532$4,525$3,677$2,969$2,385$1,646
20 years$5,200$4,205$3,374$2,689$2,130$1,435
21 years$4,900$3,917$3,104$2,440$1,906$1,254
22 years$4,628$3,656$2,860$2,219$1,709$1,096
23 years$4,380$3,420$2,641$2,021$1,534$960
24 years$4,153$3,204$2,443$1,843$1,379$841
25 years$3,945$3,007$2,262$1,683$1,241$738
26 years$3,752$2,826$2,098$1,539$1,117$648
27 years$3,575$2,660$1,948$1,409$1,007$569
28 years$3,410$2,506$1,811$1,291$909$500
29 years$3,257$2,364$1,686$1,184$821$440
30 years$3,114$2,233$1,570$1,086$742$387
31 years$2,981$2,111$1,464$998$671$341
32 years$2,857$1,997$1,366$917$607$300
33 years$2,740$1,891$1,275$843$549$264
34 years$2,630$1,793$1,191$776$497$233
35 years$2,527$1,700$1,114$714$450$205
36 years$2,430$1,614$1,042$658$408$181
37 years$2,338$1,533$975$606$370$159
38 years$2,252$1,457$913$559$335$140
39 years$2,170$1,385$856$515$304$124
40 years$2,092$1,318$802$475$276$109
41 years$2,018$1,254$752$438$250$96
42 years$1,948$1,195$705$404$227$85
43 years$1,881$1,138$662$373$206$75
44 years$1,818$1,085$621$345$187$66
45 years$1,757$1,035$583$318$170$58
46 years$1,700$987$548$294$154$51
47 years$1,645$942$515$272$140$45
48 years$1,592$899$484$251$127$40
49 years$1,542$859$455$232$115$35
50 years$1,494$820$428$214$105$31

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 $4,328 every year, while hoping to spend $22,528 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: 48/44/8 Blend
55$1,530,000$1,530,000$1,530,000$1,530,000
56$1,690,524$1,609,434$1,585,719$1,767,851
57$1,838,988$1,664,327$1,614,871$1,876,210
58$2,001,840$1,721,154$1,644,245$1,991,065
59$2,180,525$1,779,987$1,673,824$2,115,240
60$2,376,631$1,840,900$1,703,590$2,249,607
61$2,591,912$1,903,969$1,733,525$2,395,128
62$2,828,297$1,969,273$1,763,607$2,552,857
63$3,087,911$2,036,895$1,793,816$2,723,957
64$3,373,097$2,106,922$1,824,128$2,909,703
65$3,686,433$2,179,441$1,854,516$3,111,499
66$4,030,762$2,254,547$1,884,955$3,330,888
67$4,409,214$2,332,334$1,915,416$3,569,569
68$4,825,239$2,412,903$1,945,868$3,829,410
69$5,282,637$2,496,359$1,976,277$4,112,467
70$5,785,593$2,582,808$2,006,610$4,421,000
71$6,338,721$2,672,363$2,036,829$4,757,499
72$6,947,103$2,765,141$2,066,895$5,124,702
73$7,616,337$2,861,262$2,096,765$5,525,624
74$8,352,593$2,960,854$2,126,396$5,963,582
75$9,162,667$3,064,046$2,155,741$6,442,228
76$10,054,050$3,170,975$2,184,749$6,965,583
77$11,034,993$3,281,782$2,213,368$7,538,073
78$12,114,588$3,396,615$2,241,541$8,164,570
79$13,302,853$3,515,627$2,269,211$8,850,440
80$14,610,828$3,638,976$2,296,313$9,601,589
81$16,050,676$3,766,829$2,322,782$10,424,524
82$17,635,798$3,899,357$2,348,549$11,326,407
83$19,380,963$4,036,740$2,373,539$12,315,126
84$21,302,444$4,179,163$2,397,676$13,399,369
85$23,418,172$4,326,820$2,420,876$14,588,703
86$25,747,905$4,479,914$2,443,055$15,893,665
87$28,313,414$4,638,652$2,464,120$17,325,862
88$31,138,691$4,803,255$2,483,977$18,898,077
89$34,250,172$4,973,949$2,502,524$20,624,389
90$37,676,986$5,150,969$2,519,656$22,520,308
91$41,451,235$5,334,562$2,535,260$24,602,917
92$45,608,289$5,524,984$2,549,220$26,891,037
93$50,187,127$5,722,501$2,561,411$29,405,397
94$55,230,701$5,927,391$2,571,706$32,168,834
95$60,786,341$6,139,941$2,579,966$35,206,507
96$66,906,202$6,360,453$2,586,049$38,546,131
97$73,647,759$6,589,239$2,589,806$42,218,239
98$81,074,343$6,826,624$2,591,077$46,256,469
99$89,255,746$7,072,949$2,589,699$50,697,881
100$98,268,875$7,328,566$2,585,496$55,583,304