Can I retire at age 56 with 1,550,000?

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 $1,550,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.6%
1 years$127,998$126,857$125,745$124,659$123,599$120,758
2 years$63,365$62,185$61,041$59,932$58,857$56,010
3 years$41,824$40,639$39,498$38,399$37,341$34,578
4 years$31,055$29,874$28,744$27,664$26,632$23,974
5 years$24,596$23,421$22,307$21,249$20,245$17,699
6 years$20,291$19,125$18,027$16,993$16,019$13,588
7 years$17,217$16,061$14,981$13,971$13,028$10,711
8 years$14,913$13,768$12,705$11,720$10,808$8,606
9 years$13,122$11,987$10,943$9,983$9,102$7,012
10 years$11,690$10,566$9,540$8,605$7,755$5,776
11 years$10,519$9,406$8,399$7,489$6,670$4,798
12 years$9,543$8,443$7,454$6,569$5,780$4,012
13 years$8,719$7,630$6,659$5,799$5,040$3,374
14 years$8,013$6,935$5,984$5,148$4,418$2,850
15 years$7,402$6,335$5,402$4,591$3,890$2,416
16 years$6,867$5,813$4,898$4,111$3,438$2,054
17 years$6,396$5,353$4,457$3,694$3,048$1,751
18 years$5,978$4,947$4,069$3,329$2,711$1,496
19 years$5,604$4,584$3,725$3,008$2,416$1,281
20 years$5,268$4,260$3,418$2,724$2,158$1,098
21 years$4,964$3,968$3,144$2,472$1,931$942
22 years$4,689$3,704$2,898$2,248$1,731$810
23 years$4,437$3,464$2,676$2,047$1,554$696
24 years$4,207$3,246$2,475$1,867$1,397$599
25 years$3,996$3,046$2,292$1,705$1,257$516
26 years$3,801$2,863$2,126$1,559$1,132$445
27 years$3,621$2,694$1,974$1,427$1,021$384
28 years$3,455$2,539$1,835$1,308$921$331
29 years$3,300$2,395$1,708$1,199$832$286
30 years$3,155$2,262$1,591$1,100$751$247
31 years$3,020$2,138$1,483$1,011$679$213
32 years$2,894$2,023$1,383$929$615$184
33 years$2,776$1,916$1,292$854$556$159
34 years$2,665$1,816$1,207$786$504$137
35 years$2,560$1,722$1,128$723$456$119
36 years$2,462$1,635$1,056$666$413$103
37 years$2,369$1,553$988$614$374$89
38 years$2,281$1,476$925$566$340$77
39 years$2,198$1,403$867$522$308$66
40 years$2,119$1,335$813$481$279$57
41 years$2,044$1,271$762$444$253$50
42 years$1,973$1,210$715$410$230$43
43 years$1,906$1,153$671$378$209$37
44 years$1,842$1,099$629$349$189$32
45 years$1,780$1,048$591$323$172$28
46 years$1,722$1,000$555$298$156$24
47 years$1,666$954$522$275$142$21
48 years$1,613$911$490$254$129$18
49 years$1,562$870$461$235$117$16
50 years$1,513$831$433$217$106$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $1,550,000, adding $2,416 every year, while hoping to spend $57,679 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: 45/45/10 Blend
55$1,550,000$1,550,000$1,550,000$1,550,000
56$1,710,592$1,628,442$1,604,417$1,782,628
57$1,823,702$1,646,866$1,596,795$1,851,181
58$1,946,417$1,664,259$1,586,985$1,919,370
59$2,079,654$1,680,510$1,574,851$1,992,002
60$2,224,425$1,695,501$1,560,255$2,069,508
61$2,381,841$1,709,105$1,543,048$2,152,365
62$2,553,124$1,721,187$1,523,075$2,241,100
63$2,739,621$1,731,604$1,500,177$2,336,296
64$2,942,812$1,740,202$1,474,183$2,438,596
65$3,164,327$1,746,820$1,444,916$2,548,716
66$3,405,959$1,751,285$1,412,191$2,667,443
67$3,669,682$1,753,412$1,375,814$2,795,651
68$3,957,668$1,753,008$1,335,582$2,934,302
69$4,272,310$1,749,865$1,291,284$3,084,465
70$4,616,240$1,743,764$1,242,697$3,247,318
71$4,992,358$1,734,470$1,189,589$3,424,166
72$5,403,856$1,721,736$1,131,718$3,616,449
73$5,854,249$1,705,301$1,068,830$3,825,760
74$6,347,406$1,684,884$1,000,659$4,053,860
75$6,887,590$1,660,192$926,930$4,302,695
76$7,479,495$1,630,912$847,353$4,574,415
77$8,128,289$1,596,712$761,624$4,871,397
78$8,839,665$1,557,242$669,430$5,196,264
79$9,619,894$1,512,130$570,439$5,551,918
80$10,475,882$1,460,983$464,307$5,941,562
81$11,415,235$1,403,384$350,674$6,368,736
82$12,446,333$1,338,894$229,166$6,837,347
83$13,578,405$1,267,046$99,389$7,351,713
84$14,821,619$1,187,348$0$7,916,600
85$16,187,174$1,099,279$0$8,541,447
86$17,687,410$1,002,287$0$9,239,481
87$19,335,917$895,790$0$10,006,552
88$21,147,671$779,174$0$10,849,795
89$23,139,167$651,787$0$11,777,083
90$25,328,580$512,943$0$12,797,104
91$27,735,934$361,916$0$13,919,447
92$30,383,289$197,940$0$15,154,687
93$33,294,951$20,205$0$16,514,497
94$36,497,698$0$0$18,011,752
95$40,021,034$0$0$19,745,899
96$43,897,469$0$0$21,665,056
97$48,162,821$0$0$23,776,978
98$52,856,555$0$0$26,101,231
99$58,022,154$0$0$28,659,376
100$63,707,533$0$0$31,475,171