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

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 $1,630,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.8%
1 years$134,604$133,405$132,235$131,093$129,978$128,461
2 years$66,636$65,395$64,192$63,026$61,895$60,367
3 years$43,982$42,736$41,536$40,381$39,268$37,778
4 years$32,658$31,416$30,228$29,092$28,007$26,565
5 years$25,865$24,630$23,458$22,346$21,290$19,902
6 years$21,338$20,112$18,958$17,870$16,846$15,513
7 years$18,106$16,890$15,754$14,692$13,700$12,423
8 years$15,683$14,478$13,361$12,325$11,366$10,144
9 years$13,799$12,606$11,507$10,498$9,572$8,404
10 years$12,293$11,111$10,032$9,049$8,156$7,042
11 years$11,061$9,892$8,832$7,876$7,014$5,954
12 years$10,036$8,878$7,839$6,908$6,078$5,070
13 years$9,169$8,023$7,003$6,099$5,300$4,343
14 years$8,426$7,293$6,292$5,414$4,646$3,738
15 years$7,784$6,662$5,681$4,828$4,091$3,230
16 years$7,222$6,113$5,151$4,323$3,616$2,801
17 years$6,726$5,629$4,687$3,884$3,206$2,436
18 years$6,286$5,202$4,279$3,500$2,850$2,124
19 years$5,893$4,821$3,917$3,163$2,541$1,856
20 years$5,540$4,480$3,595$2,865$2,269$1,624
21 years$5,221$4,173$3,306$2,600$2,031$1,424
22 years$4,931$3,895$3,047$2,364$1,820$1,250
23 years$4,666$3,643$2,814$2,153$1,634$1,099
24 years$4,425$3,413$2,602$1,964$1,469$967
25 years$4,202$3,203$2,410$1,793$1,322$851
26 years$3,998$3,011$2,235$1,640$1,190$750
27 years$3,808$2,833$2,076$1,501$1,073$662
28 years$3,633$2,670$1,930$1,375$968$584
29 years$3,470$2,519$1,796$1,261$875$516
30 years$3,318$2,379$1,673$1,157$790$456
31 years$3,176$2,249$1,559$1,063$714$403
32 years$3,043$2,128$1,455$977$646$356
33 years$2,919$2,015$1,358$898$585$315
34 years$2,802$1,910$1,269$826$529$278
35 years$2,692$1,811$1,187$761$480$246
36 years$2,589$1,719$1,110$701$435$218
37 years$2,491$1,633$1,039$646$394$193
38 years$2,399$1,552$973$595$357$171
39 years$2,311$1,476$912$549$324$151
40 years$2,228$1,404$854$506$294$134
41 years$2,150$1,336$801$467$266$119
42 years$2,075$1,273$752$431$242$105
43 years$2,004$1,213$705$398$219$93
44 years$1,937$1,156$662$367$199$83
45 years$1,872$1,102$622$339$181$73
46 years$1,811$1,052$584$313$164$65
47 years$1,752$1,003$548$289$149$57
48 years$1,696$958$515$267$135$51
49 years$1,643$915$484$247$123$45
50 years$1,591$874$455$228$112$40

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 $6,461 every year, while hoping to spend $43,670 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: 38/43/19 Blend
55$1,630,000$1,630,000$1,630,000$1,630,000
56$1,802,925$1,716,535$1,691,270$1,860,935
57$1,940,358$1,754,180$1,701,463$1,940,986
58$2,090,347$1,792,207$1,710,533$2,022,826
59$2,254,124$1,830,587$1,718,398$2,110,366
60$2,433,050$1,869,291$1,724,969$2,204,144
61$2,628,619$1,908,284$1,730,154$2,304,754
62$2,842,480$1,947,532$1,733,856$2,412,850
63$3,076,445$1,986,993$1,735,973$2,529,154
64$3,332,512$2,026,625$1,736,397$2,654,461
65$3,612,879$2,066,381$1,735,017$2,789,650
66$3,919,967$2,106,208$1,731,715$2,935,687
67$4,256,444$2,146,053$1,726,368$3,093,641
68$4,625,246$2,185,854$1,718,846$3,264,688
69$5,029,607$2,225,546$1,709,013$3,450,128
70$5,473,089$2,265,060$1,696,727$3,651,392
71$5,959,615$2,304,320$1,681,839$3,870,060
72$6,493,508$2,343,243$1,664,192$4,107,875
73$7,079,528$2,381,744$1,643,624$4,366,758
74$7,722,917$2,419,727$1,619,963$4,648,830
75$8,429,452$2,457,091$1,593,030$4,956,428
76$9,205,497$2,493,729$1,562,636$5,292,132
77$10,058,059$2,529,523$1,528,586$5,658,785
78$10,994,861$2,564,349$1,490,674$6,059,524
79$12,024,409$2,598,075$1,448,684$6,497,811
80$13,156,076$2,630,558$1,402,392$6,977,461
81$14,400,185$2,661,645$1,351,562$7,502,684
82$15,768,113$2,691,175$1,295,948$8,078,121
83$17,272,392$2,718,973$1,235,293$8,708,891
84$18,926,828$2,744,856$1,169,328$9,400,642
85$20,746,636$2,768,625$1,097,772$10,159,599
86$22,748,577$2,790,071$1,020,331$10,992,629
87$24,951,117$2,808,970$936,698$11,907,305
88$27,374,605$2,825,084$846,551$12,911,978
89$30,041,461$2,838,159$749,557$14,015,855
90$32,976,388$2,847,927$645,365$15,229,093
91$36,206,604$2,854,100$533,609$16,562,887
92$39,762,101$2,856,374$413,909$18,029,586
93$43,675,925$2,854,426$285,864$19,642,804
94$47,984,489$2,847,912$149,060$21,417,552
95$52,727,915$2,836,469$3,062$23,370,384
96$57,950,415$2,819,708$0$25,519,549
97$63,700,704$2,797,220$0$27,916,136
98$70,032,461$2,768,569$0$30,554,041
99$77,004,838$2,733,295$0$33,457,203
100$84,683,012$2,690,907$0$36,652,694