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

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 $1,650,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.2%
1 years$136,255$135,042$133,858$132,702$131,573$127,720
2 years$67,453$66,197$64,979$63,799$62,654$58,803
3 years$44,522$43,260$42,046$40,877$39,750$36,022
4 years$33,059$31,801$30,599$29,449$28,350$24,774
5 years$26,183$24,932$23,746$22,620$21,551$18,136
6 years$21,600$20,359$19,190$18,089$17,053$13,802
7 years$18,328$17,098$15,947$14,872$13,869$10,783
8 years$15,875$14,656$13,524$12,476$11,505$8,582
9 years$13,968$12,761$11,649$10,627$9,689$6,925
10 years$12,444$11,248$10,156$9,160$8,256$5,648
11 years$11,197$10,013$8,941$7,972$7,100$4,644
12 years$10,159$8,987$7,935$6,993$6,153$3,843
13 years$9,281$8,122$7,089$6,174$5,365$3,197
14 years$8,530$7,383$6,370$5,480$4,703$2,671
15 years$7,879$6,744$5,751$4,887$4,141$2,239
16 years$7,310$6,188$5,214$4,376$3,660$1,882
17 years$6,809$5,699$4,745$3,932$3,245$1,586
18 years$6,363$5,266$4,331$3,543$2,885$1,339
19 years$5,966$4,880$3,965$3,202$2,572$1,132
20 years$5,608$4,535$3,639$2,900$2,297$959
21 years$5,285$4,224$3,347$2,632$2,056$813
22 years$4,991$3,943$3,085$2,393$1,843$690
23 years$4,724$3,688$2,848$2,179$1,654$586
24 years$4,479$3,455$2,634$1,988$1,487$498
25 years$4,254$3,243$2,440$1,815$1,338$424
26 years$4,047$3,048$2,263$1,660$1,205$360
27 years$3,855$2,868$2,101$1,519$1,086$307
28 years$3,677$2,703$1,953$1,392$980$261
29 years$3,512$2,550$1,818$1,276$885$222
30 years$3,359$2,408$1,693$1,171$800$190
31 years$3,215$2,276$1,578$1,076$723$162
32 years$3,081$2,154$1,473$989$654$138
33 years$2,955$2,040$1,375$909$592$117
34 years$2,837$1,933$1,285$837$536$100
35 years$2,725$1,834$1,201$770$485$85
36 years$2,621$1,740$1,124$709$440$73
37 years$2,522$1,653$1,052$653$399$62
38 years$2,428$1,571$985$602$361$53
39 years$2,340$1,494$923$555$328$45
40 years$2,256$1,421$865$512$297$38
41 years$2,176$1,353$811$473$270$33
42 years$2,101$1,288$761$436$245$28
43 years$2,029$1,228$714$403$222$24
44 years$1,960$1,170$670$372$202$20
45 years$1,895$1,116$629$343$183$17
46 years$1,833$1,064$591$317$166$15
47 years$1,774$1,016$555$293$151$13
48 years$1,717$970$522$271$137$11
49 years$1,663$926$490$250$124$9
50 years$1,611$885$461$231$113$8

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 $4,546 every year, while hoping to spend $36,789 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: 53/38/9 Blend
55$1,650,000$1,650,000$1,650,000$1,650,000
56$1,822,989$1,735,539$1,709,964$1,915,253
57$1,969,791$1,781,437$1,728,105$2,024,295
58$2,130,333$1,828,352$1,745,620$2,138,485
59$2,305,979$1,876,293$1,762,450$2,261,845
60$2,498,229$1,925,271$1,778,532$2,395,249
61$2,708,735$1,975,296$1,793,800$2,539,661
62$2,939,317$2,026,377$1,808,183$2,696,140
63$3,191,979$2,078,520$1,821,608$2,865,853
64$3,468,926$2,131,734$1,833,998$3,050,083
65$3,772,591$2,186,022$1,845,271$3,250,247
66$4,105,649$2,241,391$1,855,341$3,467,900
67$4,471,048$2,297,843$1,864,119$3,704,758
68$4,872,038$2,355,380$1,871,509$3,962,710
69$5,312,194$2,414,001$1,877,413$4,243,835
70$5,795,456$2,473,706$1,881,725$4,550,426
71$6,326,167$2,534,492$1,884,337$4,885,005
72$6,909,106$2,596,352$1,885,132$5,250,354
73$7,549,542$2,659,280$1,883,991$5,649,534
74$8,253,277$2,723,267$1,880,786$6,085,919
75$9,026,704$2,788,299$1,875,385$6,563,225
76$9,876,865$2,854,364$1,867,649$7,085,549
77$10,811,521$2,921,443$1,857,430$7,657,401
78$11,839,218$2,989,516$1,844,576$8,283,751
79$12,969,376$3,058,560$1,828,927$8,970,076
80$14,212,370$3,128,547$1,810,314$9,722,411
81$15,579,634$3,199,448$1,788,561$10,547,405
82$17,083,762$3,271,227$1,763,485$11,452,383
83$18,738,635$3,343,846$1,734,890$12,445,418
84$20,559,543$3,417,261$1,702,576$13,535,406
85$22,563,335$3,491,426$1,666,331$14,732,148
86$24,768,576$3,566,286$1,625,933$16,046,447
87$27,195,720$3,641,783$1,581,152$17,490,203
88$29,867,306$3,717,854$1,531,743$19,076,534
89$32,808,169$3,794,427$1,477,455$20,819,893
90$36,045,674$3,871,425$1,418,021$22,736,206
91$39,609,973$3,948,765$1,353,165$24,843,027
92$43,534,291$4,026,356$1,282,597$27,159,698
93$47,855,239$4,104,098$1,206,014$29,707,533
94$52,613,158$4,181,883$1,123,100$32,510,023
95$57,852,500$4,259,595$1,033,524$35,593,053
96$63,622,249$4,337,108$936,940$38,985,150
97$69,976,378$4,414,287$832,988$42,717,751
98$76,974,365$4,490,984$721,290$46,825,502
99$84,681,750$4,567,041$601,452$51,346,581
100$93,170,752$4,642,290$473,064$56,323,065