Can I retire at age 56 with 1,620,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $1,620,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.8%
1 years$133,778$132,586$131,424$130,289$129,181$125,600
2 years$66,227$64,993$63,798$62,639$61,515$57,934
3 years$43,713$42,474$41,282$40,133$39,028$35,558
4 years$32,458$31,223$30,042$28,914$27,835$24,504
5 years$25,707$24,479$23,314$22,209$21,160$17,977
6 years$21,207$19,989$18,841$17,760$16,743$13,711
7 years$17,995$16,787$15,657$14,602$13,616$10,736
8 years$15,586$14,389$13,279$12,249$11,296$8,565
9 years$13,714$12,528$11,437$10,434$9,513$6,928
10 years$12,217$11,043$9,971$8,994$8,106$5,664
11 years$10,994$9,831$8,778$7,827$6,971$4,669
12 years$9,974$8,824$7,790$6,866$6,041$3,874
13 years$9,113$7,974$6,960$6,061$5,268$3,232
14 years$8,375$7,248$6,254$5,381$4,618$2,707
15 years$7,736$6,622$5,646$4,798$4,066$2,276
16 years$7,177$6,075$5,119$4,297$3,593$1,919
17 years$6,685$5,595$4,658$3,860$3,186$1,622
18 years$6,248$5,170$4,252$3,479$2,833$1,373
19 years$5,857$4,791$3,893$3,144$2,525$1,165
20 years$5,506$4,452$3,573$2,847$2,255$989
21 years$5,189$4,147$3,286$2,584$2,018$841
22 years$4,900$3,871$3,029$2,349$1,809$716
23 years$4,638$3,621$2,797$2,140$1,624$610
24 years$4,397$3,392$2,586$1,951$1,460$520
25 years$4,177$3,184$2,395$1,782$1,314$444
26 years$3,973$2,992$2,222$1,630$1,183$379
27 years$3,785$2,816$2,063$1,492$1,067$324
28 years$3,611$2,653$1,918$1,367$963$276
29 years$3,449$2,503$1,785$1,253$869$236
30 years$3,298$2,364$1,662$1,150$785$202
31 years$3,157$2,235$1,550$1,056$710$173
32 years$3,025$2,115$1,446$971$642$148
33 years$2,901$2,003$1,350$893$581$126
34 years$2,785$1,898$1,261$821$526$108
35 years$2,676$1,800$1,179$756$477$92
36 years$2,573$1,709$1,103$696$432$79
37 years$2,476$1,623$1,033$642$391$68
38 years$2,384$1,542$967$591$355$58
39 years$2,297$1,467$906$545$322$50
40 years$2,215$1,395$849$503$292$42
41 years$2,137$1,328$796$464$265$36
42 years$2,062$1,265$747$428$240$31
43 years$1,992$1,205$701$395$218$27
44 years$1,925$1,149$658$365$198$23
45 years$1,861$1,095$618$337$180$19
46 years$1,800$1,045$580$311$163$17
47 years$1,742$997$545$288$148$14
48 years$1,686$952$512$266$135$12
49 years$1,633$909$481$246$122$10
50 years$1,582$868$453$227$111$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $1,620,000, adding $5,044 every year, while hoping to spend $59,809 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: 47/38/15 Blend
55$1,620,000$1,620,000$1,620,000$1,620,000
56$1,790,443$1,704,583$1,679,473$1,866,811
57$1,909,432$1,724,471$1,672,099$1,940,152
58$2,038,553$1,743,329$1,662,473$2,013,198
59$2,178,777$1,761,044$1,650,458$2,091,172
60$2,331,171$1,777,494$1,635,907$2,174,557
61$2,496,909$1,792,550$1,618,668$2,263,886
62$2,677,283$1,806,074$1,598,583$2,359,749
63$2,873,714$1,817,920$1,575,484$2,462,797
64$3,087,767$1,827,932$1,549,197$2,573,752
65$3,321,163$1,835,944$1,519,538$2,693,412
66$3,575,796$1,841,780$1,486,317$2,822,656
67$3,853,751$1,845,252$1,449,333$2,962,461
68$4,157,325$1,846,160$1,408,377$3,113,902
69$4,489,044$1,844,293$1,363,229$3,278,171
70$4,851,689$1,839,427$1,313,660$3,456,584
71$5,248,325$1,831,322$1,259,431$3,650,594
72$5,682,322$1,819,725$1,200,291$3,861,810
73$6,157,396$1,804,369$1,135,977$4,092,006
74$6,677,635$1,784,967$1,066,217$4,343,146
75$7,247,542$1,761,219$990,723$4,617,397
76$7,872,076$1,732,803$909,198$4,917,153
77$8,556,699$1,699,382$821,327$5,245,061
78$9,307,426$1,660,596$726,786$5,604,043
79$10,130,883$1,616,064$625,232$5,997,325
80$11,034,367$1,565,385$516,311$6,428,471
81$12,025,915$1,508,131$399,650$6,901,419
82$13,114,381$1,443,853$274,861$7,420,513
83$14,309,518$1,372,072$141,540$7,990,553
84$15,622,070$1,292,284$0$8,616,835
85$17,063,871$1,203,956$0$9,305,328
86$18,647,958$1,106,522$0$10,086,553
87$20,388,695$999,387$0$10,945,033
88$22,301,905$881,920$0$11,888,712
89$24,405,019$753,453$0$12,926,352
90$26,717,242$613,284$0$14,067,620
91$29,259,735$460,669$0$15,323,177
92$32,055,807$294,821$0$16,704,784
93$35,131,144$114,912$0$18,225,413
94$38,514,042$0$0$19,899,371
95$42,235,682$0$0$21,775,862
96$46,330,414$0$0$23,893,548
97$50,836,090$0$0$26,223,979
98$55,794,414$0$0$28,788,752
99$61,251,339$0$0$31,611,665
100$67,257,495$0$0$34,718,939