Can I retire at age 56 with 1,560,000?

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 $1,560,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.7%
1 years$128,823$127,676$126,556$125,464$124,397$121,985
2 years$63,774$62,586$61,435$60,319$59,236$56,816
3 years$42,094$40,901$39,753$38,647$37,582$35,229
4 years$31,256$30,066$28,930$27,843$26,804$24,536
5 years$24,754$23,572$22,451$21,386$20,376$18,200
6 years$20,422$19,249$18,143$17,103$16,123$14,041
7 years$17,328$16,165$15,077$14,061$13,112$11,125
8 years$15,009$13,856$12,787$11,795$10,878$8,985
9 years$13,206$12,064$11,013$10,047$9,161$7,361
10 years$11,765$10,634$9,602$8,661$7,805$6,097
11 years$10,586$9,467$8,453$7,537$6,713$5,093
12 years$9,605$8,497$7,502$6,611$5,817$4,285
13 years$8,775$7,679$6,702$5,837$5,073$3,625
14 years$8,065$6,980$6,022$5,181$4,447$3,080
15 years$7,449$6,376$5,437$4,621$3,915$2,628
16 years$6,911$5,850$4,930$4,137$3,460$2,249
17 years$6,437$5,388$4,486$3,717$3,068$1,929
18 years$6,016$4,979$4,095$3,350$2,728$1,659
19 years$5,640$4,614$3,749$3,027$2,432$1,430
20 years$5,302$4,288$3,440$2,742$2,172$1,234
21 years$4,996$3,994$3,164$2,488$1,944$1,066
22 years$4,719$3,728$2,917$2,262$1,742$923
23 years$4,466$3,487$2,693$2,060$1,564$799
24 years$4,235$3,267$2,491$1,879$1,406$693
25 years$4,022$3,066$2,307$1,716$1,265$601
26 years$3,826$2,881$2,139$1,569$1,139$522
27 years$3,645$2,712$1,987$1,436$1,027$453
28 years$3,477$2,555$1,847$1,316$927$394
29 years$3,321$2,411$1,719$1,207$837$342
30 years$3,175$2,276$1,601$1,108$756$298
31 years$3,040$2,152$1,492$1,017$684$259
32 years$2,913$2,036$1,392$935$618$225
33 years$2,794$1,928$1,300$860$560$196
34 years$2,682$1,828$1,215$791$507$171
35 years$2,577$1,733$1,136$728$459$149
36 years$2,478$1,645$1,062$671$416$130
37 years$2,384$1,563$994$618$377$113
38 years$2,296$1,485$931$569$342$98
39 years$2,212$1,412$872$525$310$86
40 years$2,133$1,344$818$484$281$75
41 years$2,058$1,279$767$447$255$65
42 years$1,986$1,218$719$412$231$57
43 years$1,918$1,161$675$381$210$49
44 years$1,854$1,106$634$351$191$43
45 years$1,792$1,055$595$325$173$38
46 years$1,733$1,006$559$300$157$33
47 years$1,677$960$525$277$143$28
48 years$1,623$917$493$256$130$25
49 years$1,572$875$464$237$118$22
50 years$1,523$836$436$219$107$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $1,560,000, adding $4,543 every year, while hoping to spend $29,749 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: 59/22/19 Blend
55$1,560,000$1,560,000$1,560,000$1,560,000
56$1,723,806$1,641,126$1,616,946$1,816,673
57$1,867,982$1,689,889$1,639,461$1,928,897
58$2,025,866$1,740,043$1,661,733$2,047,576
59$2,198,826$1,791,627$1,683,723$2,176,333
60$2,388,367$1,844,678$1,705,389$2,316,148
61$2,596,147$1,899,234$1,726,686$2,468,100
62$2,823,992$1,955,334$1,747,568$2,633,374
63$3,073,913$2,013,019$1,767,985$2,813,280
64$3,348,125$2,072,329$1,787,885$3,009,255
65$3,649,067$2,133,307$1,807,213$3,222,885
66$3,979,428$2,195,995$1,825,910$3,455,917
67$4,342,167$2,260,437$1,843,916$3,710,272
68$4,740,547$2,326,677$1,861,166$3,988,070
69$5,178,158$2,394,760$1,877,590$4,291,642
70$5,658,960$2,464,732$1,893,119$4,623,558
71$6,187,311$2,536,641$1,907,675$4,986,651
72$6,768,014$2,610,534$1,921,180$5,384,036
73$7,406,362$2,686,460$1,933,550$5,819,151
74$8,108,183$2,764,469$1,944,696$6,295,780
75$8,879,901$2,844,612$1,954,527$6,818,091
76$9,728,591$2,926,938$1,962,944$7,390,680
77$10,662,051$3,011,502$1,969,846$8,018,607
78$11,688,870$3,098,355$1,975,126$8,707,448
79$12,818,511$3,187,551$1,978,669$9,463,347
80$14,061,404$3,279,145$1,980,359$10,293,073
81$15,429,037$3,373,193$1,980,071$11,204,085
82$16,934,069$3,469,750$1,977,674$12,204,603
83$18,590,450$3,568,874$1,973,032$13,303,680
84$20,413,549$3,670,621$1,966,001$14,511,295
85$22,420,300$3,775,051$1,956,431$15,838,444
86$24,629,363$3,882,221$1,944,164$17,297,241
87$27,061,300$3,992,192$1,929,036$18,901,036
88$29,738,767$4,105,024$1,910,873$20,664,539
89$32,686,727$4,220,776$1,889,493$22,603,961
90$35,932,690$4,339,510$1,864,707$24,737,163
91$39,506,966$4,461,288$1,836,317$27,083,829
92$43,442,956$4,586,171$1,804,113$29,665,649
93$47,777,465$4,714,221$1,767,878$32,506,525
94$52,551,049$4,845,500$1,727,384$35,632,794
95$57,808,397$4,980,070$1,682,393$39,073,481
96$63,598,755$5,117,995$1,632,654$42,860,569
97$69,976,387$5,259,336$1,577,907$47,029,305
98$77,001,090$5,404,155$1,517,879$51,618,527
99$84,738,756$5,552,514$1,452,283$56,671,035
100$93,261,997$5,704,475$1,380,822$62,233,997