Can I retire at age 56 with 1,660,000?

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 $1,660,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.4%
1 years$137,081$135,860$134,669$133,506$132,371$131,592
2 years$67,862$66,598$65,373$64,186$63,034$62,248
3 years$44,792$43,523$42,301$41,124$39,991$39,223
4 years$33,259$31,994$30,784$29,628$28,522$27,777
5 years$26,341$25,083$23,890$22,757$21,682$20,962
6 years$21,731$20,483$19,306$18,199$17,156$16,463
7 years$18,439$17,201$16,044$14,962$13,953$13,286
8 years$15,971$14,745$13,606$12,552$11,575$10,935
9 years$14,053$12,838$11,719$10,691$9,748$9,135
10 years$12,519$11,316$10,217$9,216$8,306$7,719
11 years$11,265$10,074$8,995$8,021$7,143$6,583
12 years$10,221$9,042$7,983$7,035$6,190$5,655
13 years$9,338$8,171$7,132$6,211$5,398$4,888
14 years$8,582$7,427$6,408$5,513$4,732$4,246
15 years$7,927$6,785$5,786$4,917$4,166$3,704
16 years$7,354$6,225$5,246$4,403$3,682$3,243
17 years$6,850$5,733$4,773$3,956$3,265$2,848
18 years$6,402$5,298$4,357$3,565$2,903$2,508
19 years$6,002$4,910$3,989$3,221$2,587$2,214
20 years$5,642$4,562$3,661$2,917$2,311$1,957
21 years$5,317$4,250$3,367$2,648$2,068$1,734
22 years$5,021$3,967$3,104$2,407$1,854$1,538
23 years$4,752$3,710$2,866$2,192$1,664$1,367
24 years$4,506$3,476$2,650$2,000$1,496$1,215
25 years$4,280$3,262$2,455$1,826$1,346$1,082
26 years$4,071$3,066$2,276$1,670$1,212$964
27 years$3,878$2,885$2,114$1,528$1,093$860
28 years$3,700$2,719$1,965$1,400$986$767
29 years$3,534$2,565$1,829$1,284$891$685
30 years$3,379$2,422$1,703$1,179$805$612
31 years$3,235$2,290$1,588$1,082$728$547
32 years$3,099$2,167$1,482$995$658$489
33 years$2,973$2,052$1,383$915$596$438
34 years$2,854$1,945$1,293$842$539$392
35 years$2,742$1,845$1,208$775$488$351
36 years$2,636$1,751$1,131$714$443$314
37 years$2,537$1,663$1,058$657$401$281
38 years$2,443$1,580$991$606$364$252
39 years$2,354$1,503$928$559$330$226
40 years$2,269$1,430$870$515$299$203
41 years$2,189$1,361$816$475$271$182
42 years$2,113$1,296$765$439$246$163
43 years$2,041$1,235$718$405$223$146
44 years$1,972$1,177$674$374$203$131
45 years$1,907$1,123$633$345$184$117
46 years$1,844$1,071$595$319$167$105
47 years$1,785$1,022$559$295$152$94
48 years$1,727$976$525$272$138$85
49 years$1,673$932$493$252$125$76
50 years$1,621$890$464$233$114$68

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $1,660,000, adding $6,106 every year, while hoping to spend $54,205 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: 78/6/16 Blend
55$1,660,000$1,660,000$1,660,000$1,660,000
56$1,835,618$1,747,638$1,721,908$1,972,002
57$1,965,178$1,775,599$1,721,919$2,090,748
58$2,106,135$1,803,113$1,720,112$2,213,502
59$2,259,597$1,830,101$1,716,372$2,346,656
60$2,426,778$1,856,479$1,710,573$2,491,230
61$2,609,019$1,882,155$1,702,586$2,648,347
62$2,807,791$1,907,033$1,692,275$2,819,245
63$3,024,716$1,931,008$1,679,496$3,005,288
64$3,261,579$1,953,970$1,664,102$3,207,978
65$3,520,346$1,975,799$1,645,935$3,428,971
66$3,803,178$1,996,370$1,624,830$3,670,092
67$4,112,457$2,015,548$1,600,617$3,933,350
68$4,450,805$2,033,187$1,573,116$4,220,961
69$4,821,110$2,049,136$1,542,138$4,535,366
70$5,226,550$2,063,230$1,507,486$4,879,254
71$5,670,626$2,075,296$1,468,955$5,255,591
72$6,157,193$2,085,149$1,426,328$5,667,642
73$6,690,497$2,092,592$1,379,380$6,119,009
74$7,275,214$2,097,415$1,327,876$6,613,657
75$7,916,495$2,099,397$1,271,568$7,155,960
76$8,620,011$2,098,301$1,210,199$7,750,736
77$9,392,010$2,093,877$1,143,500$8,403,296
78$10,239,376$2,085,857$1,071,187$9,119,492
79$11,169,688$2,073,960$992,968$9,905,774
80$12,191,298$2,057,886$908,534$10,769,252
81$13,313,405$2,037,316$817,564$11,717,758
82$14,546,142$2,011,915$719,723$12,759,928
83$15,900,673$1,981,324$614,659$13,905,277
84$17,389,298$1,945,165$502,006$15,164,292
85$19,025,566$1,903,037$381,382$16,548,533
86$20,824,403$1,854,515$252,388$18,070,738
87$22,802,256$1,799,150$114,607$19,744,945
88$24,977,243$1,736,466$0$21,586,628
89$27,369,328$1,665,959$0$23,618,376
90$30,000,504$1,587,096$0$25,874,687
91$32,895,005$1,499,312$0$28,356,767
92$36,079,529$1,402,013$0$31,087,528
93$39,583,496$1,294,566$0$34,092,219
94$43,439,319$1,176,307$0$37,398,657
95$47,682,713$1,046,529$0$41,037,497
96$52,353,029$904,488$0$45,042,516
97$57,493,628$749,398$0$49,450,936
98$63,152,287$580,427$0$54,303,771
99$69,381,649$396,697$0$59,646,215
100$76,239,723$197,281$0$65,528,072