Can I retire at age 56 with 1,580,000?

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 $1,580,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.2%
1 years$130,475$129,313$128,179$127,072$125,991$124,314
2 years$64,592$63,389$62,223$61,092$59,996$58,309
3 years$42,633$41,425$40,262$39,142$38,064$36,419
4 years$31,656$30,452$29,301$28,200$27,147$25,558
5 years$25,072$23,875$22,738$21,660$20,637$19,107
6 years$20,684$19,495$18,376$17,322$16,329$14,861
7 years$17,550$16,372$15,271$14,241$13,280$11,874
8 years$15,202$14,034$12,951$11,947$11,017$9,674
9 years$13,376$12,219$11,154$10,176$9,278$7,996
10 years$11,916$10,771$9,725$8,772$7,905$6,684
11 years$10,722$9,588$8,561$7,634$6,799$5,637
12 years$9,728$8,606$7,598$6,696$5,892$4,788
13 years$8,888$7,777$6,788$5,912$5,138$4,090
14 years$8,168$7,069$6,099$5,248$4,504$3,511
15 years$7,545$6,458$5,507$4,680$3,965$3,026
16 years$7,000$5,925$4,993$4,190$3,505$2,617
17 years$6,520$5,457$4,543$3,765$3,107$2,270
18 years$6,093$5,042$4,147$3,393$2,763$1,973
19 years$5,712$4,673$3,797$3,066$2,463$1,719
20 years$5,370$4,343$3,484$2,777$2,200$1,500
21 years$5,060$4,045$3,205$2,520$1,969$1,311
22 years$4,779$3,776$2,954$2,291$1,765$1,148
23 years$4,523$3,531$2,727$2,087$1,584$1,006
24 years$4,289$3,309$2,522$1,903$1,424$882
25 years$4,073$3,105$2,336$1,738$1,281$774
26 years$3,875$2,918$2,167$1,589$1,154$680
27 years$3,692$2,746$2,012$1,455$1,040$598
28 years$3,521$2,588$1,870$1,333$939$526
29 years$3,363$2,441$1,741$1,222$848$463
30 years$3,216$2,306$1,621$1,122$766$408
31 years$3,079$2,180$1,512$1,030$692$359
32 years$2,950$2,062$1,410$947$626$316
33 years$2,830$1,953$1,317$871$567$279
34 years$2,716$1,851$1,230$801$513$246
35 years$2,610$1,756$1,150$737$465$217
36 years$2,509$1,666$1,076$679$421$191
37 years$2,415$1,583$1,007$626$382$169
38 years$2,325$1,504$943$577$346$149
39 years$2,240$1,430$884$532$314$131
40 years$2,160$1,361$828$491$285$116
41 years$2,084$1,295$777$453$258$102
42 years$2,012$1,234$728$418$234$90
43 years$1,943$1,175$684$386$213$80
44 years$1,877$1,120$642$356$193$70
45 years$1,815$1,068$603$329$175$62
46 years$1,755$1,019$566$304$159$55
47 years$1,699$973$532$281$144$48
48 years$1,644$929$500$259$131$43
49 years$1,592$887$470$240$119$38
50 years$1,543$847$441$221$108$33

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $1,580,000, adding $4,827 every year, while hoping to spend $30,418 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: 66/9/25 Blend
55$1,580,000$1,580,000$1,580,000$1,580,000
56$1,746,139$1,662,399$1,637,909$1,849,745
57$1,891,881$1,711,492$1,660,414$1,969,187
58$2,051,469$1,761,971$1,682,654$2,095,852
59$2,226,283$1,813,872$1,704,588$2,233,649
60$2,417,843$1,867,232$1,726,171$2,383,676
61$2,627,824$1,922,087$1,747,359$2,547,142
62$2,858,069$1,978,476$1,768,102$2,725,379
63$3,110,608$2,036,437$1,788,349$2,919,855
64$3,387,678$2,096,011$1,808,047$3,132,186
65$3,691,743$2,157,237$1,827,138$3,364,153
66$4,025,516$2,220,156$1,845,562$3,617,717
67$4,391,985$2,284,811$1,863,256$3,895,042
68$4,794,445$2,351,244$1,880,152$4,198,507
69$5,236,521$2,419,498$1,896,180$4,530,739
70$5,722,210$2,489,617$1,911,266$4,894,626
71$6,255,914$2,561,647$1,925,332$5,293,356
72$6,842,482$2,635,632$1,938,295$5,730,439
73$7,487,256$2,711,619$1,950,069$6,209,742
74$8,196,122$2,789,654$1,960,562$6,735,528
75$8,975,566$2,869,787$1,969,680$7,312,492
76$9,832,731$2,952,064$1,977,322$7,945,811
77$10,775,490$3,036,535$1,983,382$8,641,186
78$11,812,514$3,123,249$1,987,750$9,404,901
79$12,953,359$3,212,257$1,990,308$10,243,881
80$14,208,553$3,303,609$1,990,935$11,165,757
81$15,589,697$3,397,357$1,989,503$12,178,938
82$17,109,571$3,493,553$1,985,876$13,292,690
83$18,782,259$3,592,249$1,979,914$14,517,224
84$20,623,277$3,693,497$1,971,470$15,863,793
85$22,649,724$3,797,351$1,960,387$17,344,799
86$24,880,439$3,903,865$1,946,503$18,973,906
87$27,336,182$4,013,091$1,929,648$20,766,174
88$30,039,824$4,125,085$1,909,644$22,738,199
89$33,016,572$4,239,900$1,886,302$24,908,270
90$36,294,198$4,357,591$1,859,429$27,296,541
91$39,903,305$4,478,211$1,828,818$29,925,222
92$43,877,614$4,601,815$1,794,256$32,818,791
93$48,254,284$4,728,458$1,755,517$36,004,219
94$53,074,261$4,858,192$1,712,366$39,511,233
95$58,382,663$4,991,071$1,664,559$43,372,591
96$64,229,210$5,127,149$1,611,837$47,624,392
97$70,668,687$5,266,477$1,553,931$52,306,419
98$77,761,467$5,409,107$1,490,561$57,462,514
99$85,574,073$5,555,091$1,421,431$63,140,991
100$94,179,815$5,704,477$1,346,236$69,395,094