Can I retire at age 56 with 1,570,000?

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 $1,570,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.6%
1 years$129,649$128,494$127,368$126,268$125,194$122,817
2 years$64,183$62,987$61,829$60,706$59,616$57,231
3 years$42,363$41,163$40,007$38,895$37,823$35,503
4 years$31,456$30,259$29,115$28,021$26,976$24,740
5 years$24,913$23,724$22,595$21,523$20,506$18,361
6 years$20,553$19,372$18,260$17,212$16,226$14,173
7 years$17,439$16,269$15,174$14,151$13,196$11,236
8 years$15,105$13,945$12,869$11,871$10,947$9,079
9 years$13,291$12,142$11,084$10,111$9,219$7,443
10 years$11,840$10,702$9,663$8,716$7,855$6,168
11 years$10,654$9,528$8,507$7,586$6,756$5,156
12 years$9,667$8,552$7,550$6,654$5,854$4,340
13 years$8,831$7,728$6,745$5,874$5,105$3,674
14 years$8,116$7,025$6,061$5,214$4,475$3,125
15 years$7,497$6,417$5,472$4,650$3,940$2,667
16 years$6,956$5,888$4,961$4,164$3,482$2,284
17 years$6,479$5,422$4,515$3,741$3,088$1,961
18 years$6,055$5,010$4,121$3,372$2,746$1,688
19 years$5,676$4,644$3,773$3,047$2,447$1,455
20 years$5,336$4,315$3,462$2,759$2,186$1,257
21 years$5,028$4,019$3,185$2,504$1,956$1,087
22 years$4,749$3,752$2,935$2,277$1,753$941
23 years$4,495$3,509$2,710$2,074$1,574$816
24 years$4,262$3,288$2,506$1,891$1,415$708
25 years$4,048$3,085$2,321$1,727$1,273$615
26 years$3,850$2,900$2,153$1,579$1,147$534
27 years$3,668$2,729$1,999$1,446$1,034$464
28 years$3,499$2,572$1,859$1,324$933$404
29 years$3,342$2,426$1,730$1,215$842$351
30 years$3,196$2,291$1,611$1,115$761$306
31 years$3,059$2,166$1,502$1,024$688$266
32 years$2,931$2,049$1,401$941$622$232
33 years$2,812$1,941$1,308$865$563$202
34 years$2,699$1,839$1,223$796$510$176
35 years$2,593$1,745$1,143$733$462$153
36 years$2,494$1,656$1,069$675$419$134
37 years$2,399$1,573$1,001$622$379$117
38 years$2,310$1,495$937$573$344$102
39 years$2,226$1,421$878$528$312$89
40 years$2,146$1,352$823$487$283$77
41 years$2,071$1,287$772$450$257$67
42 years$1,999$1,226$724$415$233$59
43 years$1,930$1,168$679$383$211$51
44 years$1,865$1,113$638$354$192$45
45 years$1,803$1,062$599$327$174$39
46 years$1,744$1,013$562$302$158$34
47 years$1,688$967$528$279$144$30
48 years$1,634$923$496$258$130$26
49 years$1,582$881$467$238$118$23
50 years$1,533$842$439$220$108$20

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $1,570,000, adding $2,866 every year, while hoping to spend $26,478 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: 42/35/23 Blend
55$1,570,000$1,570,000$1,570,000$1,570,000
56$1,733,096$1,649,886$1,625,551$1,794,104
57$1,881,700$1,702,558$1,651,835$1,890,577
58$2,044,573$1,756,924$1,678,112$1,992,228
59$2,223,145$1,813,038$1,704,353$2,101,780
60$2,418,986$1,870,957$1,730,529$2,219,974
61$2,633,829$1,930,741$1,756,609$2,347,627
62$2,869,582$1,992,449$1,782,557$2,485,635
63$3,128,345$2,056,145$1,808,339$2,634,985
64$3,412,432$2,121,893$1,833,915$2,796,763
65$3,724,395$2,189,760$1,859,245$2,972,165
66$4,067,040$2,259,815$1,884,286$3,162,505
67$4,443,462$2,332,129$1,908,994$3,369,231
68$4,857,068$2,406,777$1,933,319$3,593,936
69$5,311,614$2,483,835$1,957,210$3,838,373
70$5,811,237$2,563,380$1,980,614$4,104,474
71$6,360,493$2,645,495$2,003,475$4,394,364
72$6,964,403$2,730,264$2,025,731$4,710,384
73$7,628,498$2,817,774$2,047,319$5,055,110
74$8,358,874$2,908,114$2,068,173$5,431,382
75$9,162,245$3,001,377$2,088,223$5,842,323
76$10,046,008$3,097,659$2,107,393$6,291,376
77$11,018,316$3,197,059$2,125,605$6,782,331
78$12,088,149$3,299,680$2,142,778$7,319,363
79$13,265,403$3,405,627$2,158,823$7,907,071
80$14,560,981$3,515,009$2,173,651$8,550,520
81$15,986,897$3,627,941$2,187,164$9,255,288
82$17,556,388$3,744,537$2,199,262$10,027,522
83$19,284,040$3,864,921$2,209,838$10,873,992
84$21,185,926$3,989,215$2,218,781$11,802,155
85$23,279,753$4,117,549$2,225,973$12,820,229
86$25,585,036$4,250,057$2,231,291$13,937,264
87$28,123,276$4,386,877$2,234,606$15,163,232
88$30,918,167$4,528,150$2,235,782$16,509,119
89$33,995,816$4,674,025$2,234,676$17,987,030
90$37,384,990$4,824,654$2,231,139$19,610,301
91$41,117,391$4,980,194$2,225,014$21,393,623
92$45,227,949$5,140,808$2,216,136$23,353,185
93$49,755,157$5,306,664$2,204,334$25,506,825
94$54,741,430$5,477,937$2,189,426$27,874,194
95$60,233,506$5,654,807$2,171,222$30,476,946
96$66,282,891$5,837,460$2,149,525$33,338,942
97$72,946,338$6,026,088$2,124,127$36,486,471
98$80,286,389$6,220,890$2,094,809$39,948,500
99$88,371,959$6,422,073$2,061,344$43,756,950
100$97,278,994$6,629,849$2,023,494$47,946,990