Can I retire at age 56 with 1,650,000?

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 $1,650,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.7%
1 years$136,255$135,042$133,858$132,702$131,573$130,091
2 years$67,453$66,197$64,979$63,799$62,654$61,162
3 years$44,522$43,260$42,046$40,877$39,750$38,294
4 years$33,059$31,801$30,599$29,449$28,350$26,942
5 years$26,183$24,932$23,746$22,620$21,551$20,195
6 years$21,600$20,359$19,190$18,089$17,053$15,750
7 years$18,328$17,098$15,947$14,872$13,869$12,619
8 years$15,875$14,656$13,524$12,476$11,505$10,310
9 years$13,968$12,761$11,649$10,627$9,689$8,547
10 years$12,444$11,248$10,156$9,160$8,256$7,166
11 years$11,197$10,013$8,941$7,972$7,100$6,062
12 years$10,159$8,987$7,935$6,993$6,153$5,166
13 years$9,281$8,122$7,089$6,174$5,365$4,427
14 years$8,530$7,383$6,370$5,480$4,703$3,813
15 years$7,879$6,744$5,751$4,887$4,141$3,298
16 years$7,310$6,188$5,214$4,376$3,660$2,862
17 years$6,809$5,699$4,745$3,932$3,245$2,491
18 years$6,363$5,266$4,331$3,543$2,885$2,173
19 years$5,966$4,880$3,965$3,202$2,572$1,900
20 years$5,608$4,535$3,639$2,900$2,297$1,664
21 years$5,285$4,224$3,347$2,632$2,056$1,460
22 years$4,991$3,943$3,085$2,393$1,843$1,283
23 years$4,724$3,688$2,848$2,179$1,654$1,128
24 years$4,479$3,455$2,634$1,988$1,487$994
25 years$4,254$3,243$2,440$1,815$1,338$876
26 years$4,047$3,048$2,263$1,660$1,205$772
27 years$3,855$2,868$2,101$1,519$1,086$682
28 years$3,677$2,703$1,953$1,392$980$602
29 years$3,512$2,550$1,818$1,276$885$532
30 years$3,359$2,408$1,693$1,171$800$470
31 years$3,215$2,276$1,578$1,076$723$416
32 years$3,081$2,154$1,473$989$654$368
33 years$2,955$2,040$1,375$909$592$326
34 years$2,837$1,933$1,285$837$536$289
35 years$2,725$1,834$1,201$770$485$255
36 years$2,621$1,740$1,124$709$440$226
37 years$2,522$1,653$1,052$653$399$200
38 years$2,428$1,571$985$602$361$178
39 years$2,340$1,494$923$555$328$157
40 years$2,256$1,421$865$512$297$140
41 years$2,176$1,353$811$473$270$124
42 years$2,101$1,288$761$436$245$110
43 years$2,029$1,228$714$403$222$97
44 years$1,960$1,170$670$372$202$86
45 years$1,895$1,116$629$343$183$76
46 years$1,833$1,064$591$317$166$68
47 years$1,774$1,016$555$293$151$60
48 years$1,717$970$522$271$137$53
49 years$1,663$926$490$250$124$47
50 years$1,611$885$461$231$113$42

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $1,650,000, adding $2,977 every year, while hoping to spend $39,839 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: 46/28/26 Blend
55$1,650,000$1,650,000$1,650,000$1,650,000
56$1,821,371$1,733,921$1,708,346$1,891,413
57$1,964,762$1,776,495$1,723,187$1,983,746
58$2,121,444$1,819,819$1,737,190$2,079,752
59$2,292,731$1,863,889$1,750,285$2,183,139
60$2,480,068$1,908,698$1,762,398$2,294,619
61$2,685,048$1,954,238$1,773,451$2,414,975
62$2,909,424$2,000,497$1,783,363$2,545,071
63$3,155,127$2,047,463$1,792,048$2,685,860
64$3,424,284$2,095,123$1,799,416$2,838,391
65$3,719,236$2,143,458$1,805,371$3,003,820
66$4,042,562$2,192,452$1,809,815$3,183,424
67$4,397,101$2,242,080$1,812,642$3,378,606
68$4,785,983$2,292,320$1,813,743$3,590,917
69$5,212,653$2,343,143$1,813,003$3,822,063
70$5,680,906$2,394,520$1,810,301$4,073,929
71$6,194,923$2,446,415$1,805,510$4,348,588
72$6,759,308$2,498,792$1,798,498$4,648,329
73$7,379,134$2,551,610$1,789,124$4,975,673
74$8,059,989$2,604,822$1,777,243$5,333,402
75$8,808,029$2,658,380$1,762,702$5,724,579
76$9,630,036$2,712,228$1,745,341$6,152,583
77$10,533,481$2,766,308$1,724,990$6,621,141
78$11,526,594$2,820,556$1,701,476$7,134,357
79$12,618,444$2,874,900$1,674,612$7,696,758
80$13,819,020$2,929,265$1,644,207$8,313,336
81$15,139,331$2,983,570$1,610,059$8,989,591
82$16,591,503$3,037,725$1,571,955$9,731,588
83$18,188,896$3,091,634$1,529,676$10,546,013
84$19,946,234$3,145,194$1,482,990$11,440,237
85$21,879,735$3,198,293$1,431,656$12,422,383
86$24,007,271$3,250,813$1,375,419$13,501,409
87$26,348,533$3,302,623$1,314,017$14,687,188
88$28,925,219$3,353,587$1,247,172$15,990,604
89$31,761,234$3,403,556$1,174,595$17,423,654
90$34,882,921$3,452,371$1,095,985$18,999,563
91$38,319,304$3,499,863$1,011,025$20,732,912
92$42,102,366$3,545,848$919,387$22,639,770
93$46,267,346$3,590,134$820,726$24,737,852
94$50,853,076$3,632,511$714,681$27,046,685
95$55,902,344$3,672,759$600,877$29,587,793
96$61,462,299$3,710,639$478,922$32,384,902
97$67,584,893$3,745,901$348,405$35,464,164
98$74,327,375$3,778,273$208,900$38,854,405
99$81,752,828$3,807,469$59,959$42,587,400
100$89,930,766$3,833,184$0$46,698,171