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%15.7%
1 years$128,823$127,676$126,556$125,464$124,397$121,488
2 years$63,774$62,586$61,435$60,319$59,236$56,323
3 years$42,094$40,901$39,753$38,647$37,582$34,754
4 years$31,256$30,066$28,930$27,843$26,804$24,083
5 years$24,754$23,572$22,451$21,386$20,376$17,771
6 years$20,422$19,249$18,143$17,103$16,123$13,635
7 years$17,328$16,165$15,077$14,061$13,112$10,743
8 years$15,009$13,856$12,787$11,795$10,878$8,626
9 years$13,206$12,064$11,013$10,047$9,161$7,024
10 years$11,765$10,634$9,602$8,661$7,805$5,782
11 years$10,586$9,467$8,453$7,537$6,713$4,800
12 years$9,605$8,497$7,502$6,611$5,817$4,012
13 years$8,775$7,679$6,702$5,837$5,073$3,371
14 years$8,065$6,980$6,022$5,181$4,447$2,845
15 years$7,449$6,376$5,437$4,621$3,915$2,411
16 years$6,911$5,850$4,930$4,137$3,460$2,048
17 years$6,437$5,388$4,486$3,717$3,068$1,745
18 years$6,016$4,979$4,095$3,350$2,728$1,490
19 years$5,640$4,614$3,749$3,027$2,432$1,274
20 years$5,302$4,288$3,440$2,742$2,172$1,091
21 years$4,996$3,994$3,164$2,488$1,944$936
22 years$4,719$3,728$2,917$2,262$1,742$804
23 years$4,466$3,487$2,693$2,060$1,564$691
24 years$4,235$3,267$2,491$1,879$1,406$594
25 years$4,022$3,066$2,307$1,716$1,265$511
26 years$3,826$2,881$2,139$1,569$1,139$440
27 years$3,645$2,712$1,987$1,436$1,027$379
28 years$3,477$2,555$1,847$1,316$927$327
29 years$3,321$2,411$1,719$1,207$837$282
30 years$3,175$2,276$1,601$1,108$756$243
31 years$3,040$2,152$1,492$1,017$684$210
32 years$2,913$2,036$1,392$935$618$181
33 years$2,794$1,928$1,300$860$560$156
34 years$2,682$1,828$1,215$791$507$135
35 years$2,577$1,733$1,136$728$459$117
36 years$2,478$1,645$1,062$671$416$101
37 years$2,384$1,563$994$618$377$87
38 years$2,296$1,485$931$569$342$75
39 years$2,212$1,412$872$525$310$65
40 years$2,133$1,344$818$484$281$56
41 years$2,058$1,279$767$447$255$48
42 years$1,986$1,218$719$412$231$42
43 years$1,918$1,161$675$381$210$36
44 years$1,854$1,106$634$351$191$31
45 years$1,792$1,055$595$325$173$27
46 years$1,733$1,006$559$300$157$23
47 years$1,677$960$525$277$143$20
48 years$1,623$917$493$256$130$17
49 years$1,572$875$464$237$118$15
50 years$1,523$836$436$219$107$13

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 $3,417 every year, while hoping to spend $44,275 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: 26/50/24 Blend
55$1,560,000$1,560,000$1,560,000$1,560,000
56$1,722,645$1,639,965$1,615,785$1,754,305
57$1,851,246$1,673,215$1,622,805$1,813,323
58$1,991,481$1,706,610$1,628,577$1,872,538
59$2,144,489$1,740,111$1,633,011$1,935,140
60$2,311,526$1,773,675$1,636,016$2,001,442
61$2,493,971$1,807,255$1,637,492$2,071,791
62$2,693,346$1,840,800$1,637,338$2,146,571
63$2,911,324$1,874,256$1,635,445$2,226,207
64$3,149,749$1,907,564$1,631,702$2,311,168
65$3,410,649$1,940,661$1,625,990$2,401,972
66$3,696,259$1,973,477$1,618,185$2,499,194
67$4,009,040$2,005,940$1,608,157$2,603,467
68$4,351,701$2,037,970$1,595,769$2,715,492
69$4,727,226$2,069,482$1,580,879$2,836,046
70$5,138,902$2,100,385$1,563,337$2,965,984
71$5,590,348$2,130,582$1,542,987$3,106,254
72$6,085,550$2,159,968$1,519,664$3,257,903
73$6,628,901$2,188,431$1,493,197$3,422,087
74$7,225,235$2,215,851$1,463,406$3,600,085
75$7,879,882$2,242,100$1,430,103$3,793,310
76$8,598,710$2,267,043$1,393,091$4,003,324
77$9,388,183$2,290,532$1,352,164$4,231,850
78$10,255,423$2,312,414$1,307,107$4,480,796
79$11,208,275$2,332,521$1,257,694$4,752,265
80$12,255,382$2,350,678$1,203,690$5,048,584
81$13,406,266$2,366,696$1,144,848$5,372,320
82$14,671,416$2,380,375$1,080,912$5,726,312
83$16,062,390$2,391,503$1,011,612$6,113,691
84$17,591,919$2,399,852$936,666$6,537,918
85$19,274,033$2,405,182$855,782$7,002,812
86$21,124,185$2,407,237$768,652$7,512,593
87$23,159,405$2,405,745$674,955$8,071,916
88$25,398,455$2,400,417$574,357$8,685,924
89$27,862,007$2,390,947$466,507$9,360,293
90$30,572,838$2,377,010$351,042$10,101,286
91$33,556,045$2,358,260$227,578$10,915,820
92$36,839,279$2,334,333$95,720$11,811,528
93$40,453,009$2,304,838$0$12,796,832
94$44,430,807$2,269,367$0$13,892,552
95$48,809,666$2,227,483$0$15,124,331
96$53,630,347$2,178,724$0$16,479,067
97$58,937,763$2,122,602$0$17,969,372
98$64,781,404$2,058,599$0$19,609,153
99$71,215,805$1,986,168$0$21,413,747
100$78,301,056$1,904,729$0$23,400,066