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%13.8%
1 years$136,255$135,042$133,858$132,702$131,573$129,500
2 years$67,453$66,197$64,979$63,799$62,654$60,571
3 years$44,522$43,260$42,046$40,877$39,750$37,722
4 years$33,059$31,801$30,599$29,449$28,350$26,392
5 years$26,183$24,932$23,746$22,620$21,551$19,669
6 years$21,600$20,359$19,190$18,089$17,053$15,249
7 years$18,328$17,098$15,947$14,872$13,869$12,143
8 years$15,875$14,656$13,524$12,476$11,505$9,858
9 years$13,968$12,761$11,649$10,627$9,689$8,120
10 years$12,444$11,248$10,156$9,160$8,256$6,762
11 years$11,197$10,013$8,941$7,972$7,100$5,682
12 years$10,159$8,987$7,935$6,993$6,153$4,807
13 years$9,281$8,122$7,089$6,174$5,365$4,091
14 years$8,530$7,383$6,370$5,480$4,703$3,498
15 years$7,879$6,744$5,751$4,887$4,141$3,002
16 years$7,310$6,188$5,214$4,376$3,660$2,586
17 years$6,809$5,699$4,745$3,932$3,245$2,233
18 years$6,363$5,266$4,331$3,543$2,885$1,933
19 years$5,966$4,880$3,965$3,202$2,572$1,676
20 years$5,608$4,535$3,639$2,900$2,297$1,457
21 years$5,285$4,224$3,347$2,632$2,056$1,267
22 years$4,991$3,943$3,085$2,393$1,843$1,104
23 years$4,724$3,688$2,848$2,179$1,654$963
24 years$4,479$3,455$2,634$1,988$1,487$841
25 years$4,254$3,243$2,440$1,815$1,338$735
26 years$4,047$3,048$2,263$1,660$1,205$642
27 years$3,855$2,868$2,101$1,519$1,086$562
28 years$3,677$2,703$1,953$1,392$980$492
29 years$3,512$2,550$1,818$1,276$885$431
30 years$3,359$2,408$1,693$1,171$800$378
31 years$3,215$2,276$1,578$1,076$723$331
32 years$3,081$2,154$1,473$989$654$290
33 years$2,955$2,040$1,375$909$592$254
34 years$2,837$1,933$1,285$837$536$223
35 years$2,725$1,834$1,201$770$485$196
36 years$2,621$1,740$1,124$709$440$172
37 years$2,522$1,653$1,052$653$399$151
38 years$2,428$1,571$985$602$361$132
39 years$2,340$1,494$923$555$328$116
40 years$2,256$1,421$865$512$297$102
41 years$2,176$1,353$811$473$270$90
42 years$2,101$1,288$761$436$245$79
43 years$2,029$1,228$714$403$222$69
44 years$1,960$1,170$670$372$202$61
45 years$1,895$1,116$629$343$183$53
46 years$1,833$1,064$591$317$166$47
47 years$1,774$1,016$555$293$151$41
48 years$1,717$970$522$271$137$36
49 years$1,663$926$490$250$124$32
50 years$1,611$885$461$231$113$28

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 $3,292 every year, while hoping to spend $29,654 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: 41/31/28 Blend
55$1,650,000$1,650,000$1,650,000$1,650,000
56$1,821,696$1,734,246$1,708,671$1,881,268
57$1,975,957$1,787,672$1,734,360$1,978,094
58$2,144,959$1,842,723$1,759,915$2,079,815
59$2,330,174$1,899,445$1,785,302$2,189,359
60$2,533,224$1,957,890$1,810,481$2,307,463
61$2,755,894$2,018,108$1,835,413$2,434,940
62$3,000,151$2,080,151$1,860,055$2,572,681
63$3,268,162$2,144,073$1,884,363$2,721,672
64$3,562,312$2,209,931$1,908,287$2,882,994
65$3,885,231$2,277,781$1,931,778$3,057,839
66$4,239,815$2,347,682$1,954,782$3,247,520
67$4,629,251$2,419,694$1,977,243$3,453,480
68$5,057,055$2,493,879$1,999,101$3,677,310
69$5,527,097$2,570,302$2,020,293$3,920,761
70$6,043,642$2,649,027$2,040,753$4,185,764
71$6,611,386$2,730,123$2,060,412$4,474,441
72$7,235,507$2,813,657$2,079,194$4,789,133
73$7,921,704$2,899,703$2,097,023$5,132,416
74$8,676,262$2,988,332$2,113,817$5,507,130
75$9,506,100$3,079,620$2,129,490$5,916,401
76$10,418,846$3,173,644$2,143,951$6,363,673
77$11,422,899$3,270,484$2,157,105$6,852,741
78$12,527,518$3,370,221$2,168,851$7,387,785
79$13,742,902$3,472,939$2,179,084$7,973,411
80$15,080,289$3,578,724$2,187,694$8,614,691
81$16,552,061$3,687,664$2,194,565$9,317,216
82$18,171,861$3,799,849$2,199,573$10,087,144
83$19,954,723$3,915,374$2,202,591$10,931,261
84$21,917,211$4,034,334$2,203,483$11,857,043
85$24,077,576$4,156,826$2,202,110$12,872,727
86$26,455,930$4,282,952$2,198,322$13,987,391
87$29,074,434$4,412,815$2,191,965$15,211,036
88$31,957,504$4,546,521$2,182,874$16,554,681
89$35,132,049$4,684,180$2,170,879$18,030,471
90$38,627,715$4,825,902$2,155,801$19,651,784
91$42,477,174$4,971,803$2,137,452$21,433,366
92$46,716,425$5,122,000$2,115,636$23,391,463
93$51,385,136$5,276,615$2,090,146$25,543,978
94$56,527,021$5,435,769$2,060,766$27,910,640
95$62,190,246$5,599,592$2,027,271$30,513,187
96$68,427,892$5,768,212$1,989,425$33,375,576
97$75,298,445$5,941,762$1,946,979$36,524,205
98$82,866,358$6,120,381$1,899,675$39,988,163
99$91,202,654$6,304,207$1,847,242$43,799,509
100$100,385,596$6,493,384$1,789,395$47,993,568