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

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 $1,620,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18%
1 years$133,778$132,586$131,424$130,289$129,181$124,996
2 years$66,227$64,993$63,798$62,639$61,515$57,338
3 years$43,713$42,474$41,282$40,133$39,028$34,989
4 years$32,458$31,223$30,042$28,914$27,835$23,967
5 years$25,707$24,479$23,314$22,209$21,160$17,472
6 years$21,207$19,989$18,841$17,760$16,743$13,238
7 years$17,995$16,787$15,657$14,602$13,616$10,295
8 years$15,586$14,389$13,279$12,249$11,296$8,155
9 years$13,714$12,528$11,437$10,434$9,513$6,549
10 years$12,217$11,043$9,971$8,994$8,106$5,314
11 years$10,994$9,831$8,778$7,827$6,971$4,347
12 years$9,974$8,824$7,790$6,866$6,041$3,578
13 years$9,113$7,974$6,960$6,061$5,268$2,961
14 years$8,375$7,248$6,254$5,381$4,618$2,460
15 years$7,736$6,622$5,646$4,798$4,066$2,050
16 years$7,177$6,075$5,119$4,297$3,593$1,714
17 years$6,685$5,595$4,658$3,860$3,186$1,436
18 years$6,248$5,170$4,252$3,479$2,833$1,205
19 years$5,857$4,791$3,893$3,144$2,525$1,013
20 years$5,506$4,452$3,573$2,847$2,255$852
21 years$5,189$4,147$3,286$2,584$2,018$718
22 years$4,900$3,871$3,029$2,349$1,809$606
23 years$4,638$3,621$2,797$2,140$1,624$511
24 years$4,397$3,392$2,586$1,951$1,460$432
25 years$4,177$3,184$2,395$1,782$1,314$365
26 years$3,973$2,992$2,222$1,630$1,183$308
27 years$3,785$2,816$2,063$1,492$1,067$261
28 years$3,611$2,653$1,918$1,367$963$221
29 years$3,449$2,503$1,785$1,253$869$187
30 years$3,298$2,364$1,662$1,150$785$158
31 years$3,157$2,235$1,550$1,056$710$134
32 years$3,025$2,115$1,446$971$642$113
33 years$2,901$2,003$1,350$893$581$96
34 years$2,785$1,898$1,261$821$526$81
35 years$2,676$1,800$1,179$756$477$69
36 years$2,573$1,709$1,103$696$432$58
37 years$2,476$1,623$1,033$642$391$49
38 years$2,384$1,542$967$591$355$42
39 years$2,297$1,467$906$545$322$35
40 years$2,215$1,395$849$503$292$30
41 years$2,137$1,328$796$464$265$25
42 years$2,062$1,265$747$428$240$22
43 years$1,992$1,205$701$395$218$18
44 years$1,925$1,149$658$365$198$15
45 years$1,861$1,095$618$337$180$13
46 years$1,800$1,045$580$311$163$11
47 years$1,742$997$545$288$148$9
48 years$1,686$952$512$266$135$8
49 years$1,633$909$481$246$122$7
50 years$1,582$868$453$227$111$6

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 $5,003 every year, while hoping to spend $52,861 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: 63/12/25 Blend
55$1,620,000$1,620,000$1,620,000$1,620,000
56$1,790,401$1,704,541$1,679,431$1,891,089
57$1,916,778$1,731,819$1,679,448$1,987,087
58$2,054,274$1,758,663$1,677,694$2,085,610
59$2,203,967$1,784,995$1,674,054$2,192,053
60$2,367,043$1,810,732$1,668,407$2,307,200
61$2,544,810$1,835,785$1,660,626$2,431,912
62$2,738,702$1,860,061$1,650,579$2,567,141
63$2,950,303$1,883,457$1,638,127$2,713,937
64$3,181,353$1,905,865$1,623,123$2,873,457
65$3,433,769$1,927,170$1,605,415$3,046,979
66$3,709,660$1,947,249$1,584,844$3,235,910
67$4,011,351$1,965,969$1,561,241$3,441,804
68$4,341,398$1,983,191$1,534,432$3,666,373
69$4,702,618$1,998,765$1,504,233$3,911,507
70$5,098,112$2,012,531$1,470,452$4,179,289
71$5,531,294$2,024,321$1,432,887$4,472,017
72$6,005,927$2,033,953$1,391,329$4,792,225
73$6,526,151$2,041,235$1,345,558$5,142,708
74$7,096,527$2,045,965$1,295,343$5,526,547
75$7,722,081$2,047,925$1,240,445$5,947,142
76$8,408,344$2,046,885$1,180,611$6,408,240
77$9,161,413$2,042,600$1,115,579$6,913,974
78$9,988,000$2,034,811$1,045,075$7,468,902
79$10,895,502$2,023,241$968,810$8,078,050
80$11,892,063$2,007,600$886,485$8,746,958
81$12,986,658$1,987,577$797,787$9,481,737
82$14,189,172$1,962,843$702,387$10,289,125
83$15,510,495$1,933,051$599,945$11,176,550
84$16,962,626$1,897,830$490,104$12,152,204
85$18,558,780$1,856,791$372,489$13,225,117
86$20,313,521$1,809,518$246,712$14,405,246
87$22,242,889$1,755,574$112,367$15,703,570
88$24,364,562$1,694,495$0$17,132,191
89$26,698,011$1,625,789$0$18,712,724
90$29,264,692$1,548,937$0$20,484,134
91$32,088,244$1,463,388$0$22,432,758
92$35,194,714$1,368,563$0$24,576,604
93$38,612,797$1,263,845$0$26,935,517
94$42,374,114$1,148,585$0$29,531,367
95$46,513,503$1,022,095$0$32,388,253
96$51,069,354$883,651$0$35,532,735
97$56,083,962$732,484$0$38,994,080
98$61,603,935$567,784$0$42,804,542
99$67,680,626$388,696$0$46,999,665
100$74,370,622$194,314$0$51,618,621