Can I retire at age 56 with 1,610,000?

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 $1,610,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.1%
1 years$132,952$131,768$130,613$129,485$128,384$124,674
2 years$65,818$64,592$63,404$62,252$61,135$57,427
3 years$43,443$42,212$41,027$39,886$38,787$35,196
4 years$32,257$31,030$29,857$28,735$27,663$24,218
5 years$25,548$24,328$23,170$22,072$21,029$17,739
6 years$21,076$19,866$18,725$17,651$16,639$13,507
7 years$17,884$16,683$15,561$14,512$13,532$10,558
8 years$15,490$14,300$13,197$12,173$11,226$8,408
9 years$13,630$12,451$11,366$10,369$9,454$6,789
10 years$12,142$10,975$9,909$8,938$8,055$5,540
11 years$10,926$9,770$8,724$7,779$6,928$4,558
12 years$9,913$8,769$7,742$6,823$6,004$3,775
13 years$9,056$7,925$6,917$6,024$5,235$3,142
14 years$8,323$7,204$6,215$5,347$4,589$2,627
15 years$7,688$6,581$5,611$4,769$4,041$2,204
16 years$7,133$6,038$5,088$4,270$3,571$1,854
17 years$6,644$5,560$4,630$3,837$3,166$1,563
18 years$6,209$5,138$4,226$3,458$2,815$1,321
19 years$5,821$4,762$3,869$3,124$2,509$1,118
20 years$5,472$4,425$3,551$2,830$2,242$947
21 years$5,157$4,122$3,266$2,568$2,006$804
22 years$4,870$3,847$3,010$2,335$1,798$683
23 years$4,609$3,598$2,779$2,126$1,614$580
24 years$4,370$3,372$2,570$1,939$1,451$494
25 years$4,151$3,164$2,381$1,771$1,305$420
26 years$3,949$2,974$2,208$1,619$1,176$358
27 years$3,762$2,799$2,050$1,482$1,060$305
28 years$3,588$2,637$1,906$1,358$957$260
29 years$3,427$2,488$1,774$1,245$864$221
30 years$3,277$2,349$1,652$1,143$780$189
31 years$3,137$2,221$1,540$1,050$706$161
32 years$3,006$2,102$1,437$965$638$137
33 years$2,883$1,990$1,342$887$578$117
34 years$2,768$1,886$1,254$816$523$100
35 years$2,659$1,789$1,172$751$474$85
36 years$2,557$1,698$1,096$692$429$73
37 years$2,461$1,613$1,026$638$389$62
38 years$2,369$1,533$961$588$353$53
39 years$2,283$1,457$900$542$320$45
40 years$2,201$1,387$844$500$290$39
41 years$2,123$1,320$791$461$263$33
42 years$2,050$1,257$742$426$239$28
43 years$1,980$1,198$697$393$217$24
44 years$1,913$1,142$654$363$197$21
45 years$1,849$1,089$614$335$179$18
46 years$1,789$1,039$577$309$162$15
47 years$1,731$991$542$286$147$13
48 years$1,675$946$509$264$134$11
49 years$1,623$904$479$244$121$9
50 years$1,572$863$450$226$110$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $1,610,000, adding $4,722 every year, while hoping to spend $36,721 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: 73/11/16 Blend
55$1,610,000$1,610,000$1,610,000$1,610,000
56$1,779,091$1,693,761$1,668,806$1,902,189
57$1,921,487$1,737,684$1,685,640$2,028,338
58$2,077,177$1,782,529$1,701,807$2,161,537
59$2,247,478$1,828,302$1,717,247$2,306,480
60$2,433,840$1,875,008$1,731,894$2,464,324
61$2,637,861$1,922,652$1,745,681$2,636,343
62$2,861,298$1,971,238$1,758,537$2,823,940
63$3,106,089$2,020,766$1,770,386$3,028,661
64$3,374,365$2,071,240$1,781,150$3,252,210
65$3,668,477$2,122,657$1,790,745$3,496,461
66$3,991,011$2,175,017$1,799,084$3,763,482
67$4,344,817$2,228,315$1,806,076$4,055,549
68$4,733,032$2,282,546$1,811,623$4,375,171
69$5,159,114$2,337,704$1,815,626$4,725,111
70$5,626,871$2,393,779$1,817,976$5,108,414
71$6,140,498$2,450,759$1,818,564$5,528,435
72$6,704,614$2,508,632$1,817,271$5,988,870
73$7,324,311$2,567,381$1,813,976$6,493,792
74$8,005,194$2,626,987$1,808,548$7,047,689
75$8,753,443$2,687,428$1,800,854$7,655,505
76$9,575,863$2,748,681$1,790,751$8,322,689
77$10,479,951$2,810,716$1,778,090$9,055,245
78$11,473,967$2,873,502$1,762,718$9,859,789
79$12,567,012$2,937,004$1,744,469$10,743,611
80$13,769,113$3,001,183$1,723,175$11,714,745
81$15,091,316$3,065,995$1,698,655$12,782,043
82$16,545,794$3,131,392$1,670,723$13,955,261
83$18,145,956$3,197,321$1,639,183$15,245,147
84$19,906,578$3,263,724$1,603,831$16,663,548
85$21,843,940$3,330,538$1,564,450$18,223,518
86$23,975,980$3,397,692$1,520,817$19,939,442
87$26,322,463$3,465,112$1,472,697$21,827,174
88$28,905,166$3,532,715$1,419,845$23,904,183
89$31,748,086$3,600,411$1,362,003$26,189,719
90$34,877,664$3,668,104$1,298,903$28,704,999
91$38,323,034$3,735,689$1,230,264$31,473,402
92$42,116,298$3,803,053$1,155,793$34,520,691
93$46,292,832$3,870,074$1,075,184$37,875,260
94$50,891,613$3,936,620$988,114$41,568,397
95$55,955,593$4,002,549$894,251$45,634,582
96$61,532,099$4,067,710$793,244$50,111,816
97$67,673,283$4,131,938$684,728$55,041,971
98$74,436,613$4,195,058$568,322$60,471,197
99$81,885,413$4,256,881$443,626$66,450,347
100$90,089,463$4,317,207$310,226$73,035,464