Can I retire at age 56 with 1,630,000?

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 $1,630,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.4%
1 years$134,604$133,405$132,235$131,093$129,978$126,070
2 years$66,636$65,395$64,192$63,026$61,895$57,990
3 years$43,982$42,736$41,536$40,381$39,268$35,490
4 years$32,658$31,416$30,228$29,092$28,007$24,383
5 years$25,865$24,630$23,458$22,346$21,290$17,832
6 years$21,338$20,112$18,958$17,870$16,846$13,556
7 years$18,106$16,890$15,754$14,692$13,700$10,578
8 years$15,683$14,478$13,361$12,325$11,366$8,409
9 years$13,799$12,606$11,507$10,498$9,572$6,778
10 years$12,293$11,111$10,032$9,049$8,156$5,520
11 years$11,061$9,892$8,832$7,876$7,014$4,533
12 years$10,036$8,878$7,839$6,908$6,078$3,746
13 years$9,169$8,023$7,003$6,099$5,300$3,112
14 years$8,426$7,293$6,292$5,414$4,646$2,597
15 years$7,784$6,662$5,681$4,828$4,091$2,174
16 years$7,222$6,113$5,151$4,323$3,616$1,825
17 years$6,726$5,629$4,687$3,884$3,206$1,535
18 years$6,286$5,202$4,279$3,500$2,850$1,294
19 years$5,893$4,821$3,917$3,163$2,541$1,093
20 years$5,540$4,480$3,595$2,865$2,269$924
21 years$5,221$4,173$3,306$2,600$2,031$782
22 years$4,931$3,895$3,047$2,364$1,820$663
23 years$4,666$3,643$2,814$2,153$1,634$562
24 years$4,425$3,413$2,602$1,964$1,469$477
25 years$4,202$3,203$2,410$1,793$1,322$405
26 years$3,998$3,011$2,235$1,640$1,190$344
27 years$3,808$2,833$2,076$1,501$1,073$292
28 years$3,633$2,670$1,930$1,375$968$249
29 years$3,470$2,519$1,796$1,261$875$211
30 years$3,318$2,379$1,673$1,157$790$180
31 years$3,176$2,249$1,559$1,063$714$153
32 years$3,043$2,128$1,455$977$646$130
33 years$2,919$2,015$1,358$898$585$111
34 years$2,802$1,910$1,269$826$529$94
35 years$2,692$1,811$1,187$761$480$80
36 years$2,589$1,719$1,110$701$435$68
37 years$2,491$1,633$1,039$646$394$58
38 years$2,399$1,552$973$595$357$50
39 years$2,311$1,476$912$549$324$42
40 years$2,228$1,404$854$506$294$36
41 years$2,150$1,336$801$467$266$31
42 years$2,075$1,273$752$431$242$26
43 years$2,004$1,213$705$398$219$22
44 years$1,937$1,156$662$367$199$19
45 years$1,872$1,102$622$339$181$16
46 years$1,811$1,052$584$313$164$14
47 years$1,752$1,003$548$289$149$12
48 years$1,696$958$515$267$135$10
49 years$1,643$915$484$247$123$8
50 years$1,591$874$455$228$112$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $1,630,000, adding $5,895 every year, while hoping to spend $27,053 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: 45/37/18 Blend
55$1,630,000$1,630,000$1,630,000$1,630,000
56$1,802,341$1,715,951$1,690,686$1,873,885
57$1,957,395$1,771,248$1,718,539$1,979,863
58$2,127,359$1,828,348$1,746,420$2,091,561
59$2,313,723$1,887,311$1,774,299$2,212,116
60$2,518,132$1,948,199$1,802,147$2,342,363
61$2,742,396$2,011,074$1,829,933$2,483,218
62$2,988,507$2,076,005$1,857,623$2,635,689
63$3,258,664$2,143,058$1,885,182$2,800,886
64$3,555,284$2,212,304$1,912,572$2,980,028
65$3,881,033$2,283,817$1,939,754$3,174,459
66$4,238,847$2,357,672$1,966,683$3,385,655
67$4,631,959$2,433,947$1,993,317$3,615,243
68$5,063,931$2,512,724$2,019,606$3,865,011
69$5,538,690$2,594,085$2,045,500$4,136,929
70$6,060,559$2,678,117$2,070,947$4,433,165
71$6,634,301$2,764,910$2,095,889$4,756,106
72$7,265,165$2,854,556$2,120,266$5,108,379
73$7,958,933$2,947,151$2,144,017$5,492,877
74$8,721,977$3,042,794$2,167,074$5,912,786
75$9,561,315$3,141,588$2,189,367$6,371,613
76$10,484,681$3,243,637$2,210,823$6,873,221
77$11,500,596$3,349,052$2,231,363$7,421,863
78$12,618,448$3,457,947$2,250,905$8,022,225
79$13,848,582$3,570,439$2,269,362$8,679,465
80$15,202,395$3,686,649$2,286,644$9,399,267
81$16,692,447$3,806,703$2,302,655$10,187,888
82$18,332,576$3,930,730$2,317,293$11,052,224
83$20,138,030$4,058,867$2,330,453$11,999,868
84$22,125,609$4,191,251$2,342,023$13,039,185
85$24,313,826$4,328,027$2,351,885$14,179,390
86$26,723,080$4,469,345$2,359,918$15,430,635
87$29,375,850$4,615,358$2,365,990$16,804,101
88$32,296,903$4,766,227$2,369,968$18,312,109
89$35,513,532$4,922,117$2,371,707$19,968,231
90$39,055,811$5,083,200$2,371,058$21,787,419
91$42,956,880$5,249,652$2,367,864$23,786,147
92$47,253,254$5,421,658$2,361,960$25,982,564
93$51,985,175$5,599,408$2,353,174$28,396,667
94$57,196,982$5,783,098$2,341,325$31,050,487
95$62,937,537$5,972,933$2,326,222$33,968,299
96$69,260,682$6,169,123$2,307,667$37,176,849
97$76,225,748$6,371,887$2,285,450$40,705,604
98$83,898,117$6,581,451$2,259,355$44,587,035
99$92,349,833$6,798,051$2,229,152$48,856,918
100$101,660,289$7,021,928$2,194,601$53,554,672