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%14.1%
1 years$130,475$129,313$128,179$127,072$125,991$123,853
2 years$64,592$63,389$62,223$61,092$59,996$57,848
3 years$42,633$41,425$40,262$39,142$38,064$35,974
4 years$31,656$30,452$29,301$28,200$27,147$25,131
5 years$25,072$23,875$22,738$21,660$20,637$18,700
6 years$20,684$19,495$18,376$17,322$16,329$14,474
7 years$17,550$16,372$15,271$14,241$13,280$11,507
8 years$15,202$14,034$12,951$11,947$11,017$9,325
9 years$13,376$12,219$11,154$10,176$9,278$7,667
10 years$11,916$10,771$9,725$8,772$7,905$6,374
11 years$10,722$9,588$8,561$7,634$6,799$5,345
12 years$9,728$8,606$7,598$6,696$5,892$4,514
13 years$8,888$7,777$6,788$5,912$5,138$3,834
14 years$8,168$7,069$6,099$5,248$4,504$3,271
15 years$7,545$6,458$5,507$4,680$3,965$2,802
16 years$7,000$5,925$4,993$4,190$3,505$2,408
17 years$6,520$5,457$4,543$3,765$3,107$2,075
18 years$6,093$5,042$4,147$3,393$2,763$1,792
19 years$5,712$4,673$3,797$3,066$2,463$1,551
20 years$5,370$4,343$3,484$2,777$2,200$1,345
21 years$5,060$4,045$3,205$2,520$1,969$1,167
22 years$4,779$3,776$2,954$2,291$1,765$1,015
23 years$4,523$3,531$2,727$2,087$1,584$883
24 years$4,289$3,309$2,522$1,903$1,424$769
25 years$4,073$3,105$2,336$1,738$1,281$670
26 years$3,875$2,918$2,167$1,589$1,154$585
27 years$3,692$2,746$2,012$1,455$1,040$510
28 years$3,521$2,588$1,870$1,333$939$446
29 years$3,363$2,441$1,741$1,222$848$389
30 years$3,216$2,306$1,621$1,122$766$340
31 years$3,079$2,180$1,512$1,030$692$298
32 years$2,950$2,062$1,410$947$626$260
33 years$2,830$1,953$1,317$871$567$228
34 years$2,716$1,851$1,230$801$513$199
35 years$2,610$1,756$1,150$737$465$174
36 years$2,509$1,666$1,076$679$421$153
37 years$2,415$1,583$1,007$626$382$134
38 years$2,325$1,504$943$577$346$117
39 years$2,240$1,430$884$532$314$102
40 years$2,160$1,361$828$491$285$90
41 years$2,084$1,295$777$453$258$79
42 years$2,012$1,234$728$418$234$69
43 years$1,943$1,175$684$386$213$60
44 years$1,877$1,120$642$356$193$53
45 years$1,815$1,068$603$329$175$46
46 years$1,755$1,019$566$304$159$41
47 years$1,699$973$532$281$144$36
48 years$1,644$929$500$259$131$31
49 years$1,592$887$470$240$119$27
50 years$1,543$847$441$221$108$24

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 $3,983 every year, while hoping to spend $43,653 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: 38/36/26 Blend
55$1,580,000$1,580,000$1,580,000$1,580,000
56$1,745,268$1,661,528$1,637,038$1,797,929
57$1,876,839$1,696,497$1,645,433$1,871,779
58$2,020,367$1,731,716$1,652,645$1,947,216
59$2,177,026$1,767,151$1,658,590$2,027,896
60$2,348,108$1,802,766$1,663,178$2,114,322
61$2,535,034$1,838,521$1,666,313$2,207,048
62$2,739,370$1,874,371$1,667,897$2,306,688
63$2,962,839$1,910,269$1,667,826$2,413,917
64$3,207,341$1,946,164$1,665,990$2,529,481
65$3,474,964$1,982,000$1,662,275$2,654,204
66$3,768,009$2,017,717$1,656,560$2,788,994
67$4,089,011$2,053,250$1,648,719$2,934,855
68$4,440,760$2,088,529$1,638,621$3,092,892
69$4,826,329$2,123,479$1,626,127$3,264,328
70$5,249,104$2,158,019$1,611,091$3,450,511
71$5,712,812$2,192,061$1,593,362$3,652,928
72$6,221,560$2,225,513$1,572,781$3,873,221
73$6,779,870$2,258,275$1,549,180$4,113,201
74$7,392,725$2,290,238$1,522,386$4,374,867
75$8,065,612$2,321,289$1,492,216$4,660,426
76$8,804,577$2,351,305$1,458,477$4,972,310
77$9,616,279$2,380,154$1,420,971$5,313,207
78$10,508,054$2,407,696$1,379,489$5,686,078
79$11,487,984$2,433,782$1,333,810$6,094,193
80$12,564,972$2,458,251$1,283,706$6,541,158
81$13,748,828$2,480,933$1,228,939$7,030,953
82$15,050,356$2,501,647$1,169,256$7,567,967
83$16,481,464$2,520,199$1,104,398$8,157,042
84$18,055,268$2,536,384$1,034,090$8,803,521
85$19,786,220$2,549,981$958,046$9,513,296
86$21,690,242$2,560,758$875,968$10,292,866
87$23,784,878$2,568,466$787,545$11,149,400
88$26,089,458$2,572,843$692,449$12,090,807
89$28,625,277$2,573,607$590,341$13,125,807
90$31,415,804$2,570,462$480,866$14,264,020
91$34,486,892$2,563,091$363,651$15,516,054
92$37,867,032$2,551,160$238,311$16,893,609
93$41,587,614$2,534,311$104,439$18,409,587
94$45,683,227$2,512,169$0$20,078,216
95$50,191,984$2,484,333$0$21,925,849
96$55,155,879$2,450,378$0$23,990,739
97$60,621,188$2,409,855$0$26,263,090
98$66,638,899$2,362,288$0$28,764,073
99$73,265,199$2,307,172$0$31,517,026
100$80,561,999$2,243,974$0$34,547,672