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%16.7%
1 years$129,649$128,494$127,368$126,268$125,194$121,772
2 years$64,183$62,987$61,829$60,706$59,616$56,194
3 years$42,363$41,163$40,007$38,895$37,823$34,507
4 years$31,456$30,259$29,115$28,021$26,976$23,792
5 years$24,913$23,724$22,595$21,523$20,506$17,464
6 years$20,553$19,372$18,260$17,212$16,226$13,327
7 years$17,439$16,269$15,174$14,151$13,196$10,441
8 years$15,105$13,945$12,869$11,871$10,947$8,334
9 years$13,291$12,142$11,084$10,111$9,219$6,746
10 years$11,840$10,702$9,663$8,716$7,855$5,519
11 years$10,654$9,528$8,507$7,586$6,756$4,552
12 years$9,667$8,552$7,550$6,654$5,854$3,780
13 years$8,831$7,728$6,745$5,874$5,105$3,155
14 years$8,116$7,025$6,061$5,214$4,475$2,645
15 years$7,497$6,417$5,472$4,650$3,940$2,225
16 years$6,956$5,888$4,961$4,164$3,482$1,877
17 years$6,479$5,422$4,515$3,741$3,088$1,587
18 years$6,055$5,010$4,121$3,372$2,746$1,345
19 years$5,676$4,644$3,773$3,047$2,447$1,142
20 years$5,336$4,315$3,462$2,759$2,186$971
21 years$5,028$4,019$3,185$2,504$1,956$826
22 years$4,749$3,752$2,935$2,277$1,753$704
23 years$4,495$3,509$2,710$2,074$1,574$600
24 years$4,262$3,288$2,506$1,891$1,415$512
25 years$4,048$3,085$2,321$1,727$1,273$437
26 years$3,850$2,900$2,153$1,579$1,147$374
27 years$3,668$2,729$1,999$1,446$1,034$319
28 years$3,499$2,572$1,859$1,324$933$273
29 years$3,342$2,426$1,730$1,215$842$233
30 years$3,196$2,291$1,611$1,115$761$200
31 years$3,059$2,166$1,502$1,024$688$171
32 years$2,931$2,049$1,401$941$622$146
33 years$2,812$1,941$1,308$865$563$125
34 years$2,699$1,839$1,223$796$510$107
35 years$2,593$1,745$1,143$733$462$92
36 years$2,494$1,656$1,069$675$419$79
37 years$2,399$1,573$1,001$622$379$67
38 years$2,310$1,495$937$573$344$58
39 years$2,226$1,421$878$528$312$49
40 years$2,146$1,352$823$487$283$42
41 years$2,071$1,287$772$450$257$36
42 years$1,999$1,226$724$415$233$31
43 years$1,930$1,168$679$383$211$27
44 years$1,865$1,113$638$354$192$23
45 years$1,803$1,062$599$327$174$20
46 years$1,744$1,013$562$302$158$17
47 years$1,688$967$528$279$144$14
48 years$1,634$923$496$258$130$12
49 years$1,582$881$467$238$118$11
50 years$1,533$842$439$220$108$9

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 $4,907 every year, while hoping to spend $45,484 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: 75/14/11 Blend
55$1,570,000$1,570,000$1,570,000$1,570,000
56$1,735,202$1,651,992$1,627,657$1,861,355
57$1,863,798$1,684,545$1,633,788$1,977,771
58$2,003,986$1,717,168$1,638,601$2,099,107
59$2,156,901$1,749,818$1,642,003$2,230,810
60$2,323,791$1,782,445$1,643,897$2,373,893
61$2,506,031$1,814,999$1,644,181$2,529,473
62$2,705,134$1,847,421$1,642,748$2,698,781
63$2,922,765$1,879,653$1,639,488$2,883,171
64$3,160,759$1,911,627$1,634,282$3,084,136
65$3,421,134$1,943,274$1,627,008$3,303,321
66$3,706,113$1,974,518$1,617,536$3,542,538
67$4,018,144$2,005,277$1,605,732$3,803,783
68$4,359,925$2,035,466$1,591,453$4,089,256
69$4,734,422$2,064,989$1,574,552$4,401,379
70$5,144,907$2,093,747$1,554,873$4,742,823
71$5,594,980$2,121,632$1,532,254$5,116,531
72$6,088,606$2,148,531$1,506,523$5,525,743
73$6,630,156$2,174,321$1,477,503$5,974,033
74$7,224,439$2,198,870$1,445,007$6,465,338
75$7,876,757$2,222,039$1,408,839$7,003,994
76$8,592,946$2,243,680$1,368,796$7,594,782
77$9,379,440$2,263,633$1,324,663$8,242,971
78$10,243,320$2,281,729$1,276,218$8,954,365
79$11,192,393$2,297,787$1,223,225$9,735,362
80$12,235,255$2,311,617$1,165,441$10,593,012
81$13,381,378$2,323,013$1,102,610$11,535,085
82$14,641,197$2,331,759$1,034,466$12,570,142
83$16,026,207$2,337,623$960,729$13,707,619
84$17,549,074$2,340,361$881,107$14,957,916
85$19,223,751$2,339,710$795,295$16,332,492
86$21,065,613$2,335,395$702,977$17,843,978
87$23,091,597$2,327,121$603,818$19,506,292
88$25,320,366$2,314,576$497,472$21,334,774
89$27,772,483$2,297,430$383,577$23,346,329
90$30,470,603$2,275,330$261,754$25,559,588
91$33,439,689$2,247,906$131,607$27,995,084
92$36,707,246$2,214,762$0$30,675,444
93$40,303,580$2,175,480$0$33,626,462
94$44,262,084$2,129,618$0$36,891,306
95$48,619,553$2,076,705$0$40,484,856
96$53,416,530$2,016,247$0$44,440,546
97$58,697,689$1,947,715$0$48,795,224
98$64,512,255$1,870,556$0$53,589,491
99$70,914,470$1,784,178$0$58,868,091
100$77,964,103$1,687,960$0$64,680,333