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%19.4%
1 years$137,081$135,860$134,669$133,506$132,371$127,370
2 years$67,862$66,598$65,373$64,186$63,034$58,054
3 years$44,792$43,523$42,301$41,124$39,991$35,189
4 years$33,259$31,994$30,784$29,628$28,522$23,933
5 years$26,341$25,083$23,890$22,757$21,682$17,319
6 years$21,731$20,483$19,306$18,199$17,156$13,022
7 years$18,439$17,201$16,044$14,962$13,953$10,046
8 years$15,971$14,745$13,606$12,552$11,575$7,892
9 years$14,053$12,838$11,719$10,691$9,748$6,284
10 years$12,519$11,316$10,217$9,216$8,306$5,054
11 years$11,265$10,074$8,995$8,021$7,143$4,097
12 years$10,221$9,042$7,983$7,035$6,190$3,341
13 years$9,338$8,171$7,132$6,211$5,398$2,738
14 years$8,582$7,427$6,408$5,513$4,732$2,253
15 years$7,927$6,785$5,786$4,917$4,166$1,859
16 years$7,354$6,225$5,246$4,403$3,682$1,538
17 years$6,850$5,733$4,773$3,956$3,265$1,275
18 years$6,402$5,298$4,357$3,565$2,903$1,059
19 years$6,002$4,910$3,989$3,221$2,587$881
20 years$5,642$4,562$3,661$2,917$2,311$734
21 years$5,317$4,250$3,367$2,648$2,068$611
22 years$5,021$3,967$3,104$2,407$1,854$510
23 years$4,752$3,710$2,866$2,192$1,664$426
24 years$4,506$3,476$2,650$2,000$1,496$356
25 years$4,280$3,262$2,455$1,826$1,346$297
26 years$4,071$3,066$2,276$1,670$1,212$248
27 years$3,878$2,885$2,114$1,528$1,093$208
28 years$3,700$2,719$1,965$1,400$986$174
29 years$3,534$2,565$1,829$1,284$891$145
30 years$3,379$2,422$1,703$1,179$805$122
31 years$3,235$2,290$1,588$1,082$728$102
32 years$3,099$2,167$1,482$995$658$85
33 years$2,973$2,052$1,383$915$596$71
34 years$2,854$1,945$1,293$842$539$60
35 years$2,742$1,845$1,208$775$488$50
36 years$2,636$1,751$1,131$714$443$42
37 years$2,537$1,663$1,058$657$401$35
38 years$2,443$1,580$991$606$364$29
39 years$2,354$1,503$928$559$330$25
40 years$2,269$1,430$870$515$299$21
41 years$2,189$1,361$816$475$271$17
42 years$2,113$1,296$765$439$246$14
43 years$2,041$1,235$718$405$223$12
44 years$1,972$1,177$674$374$203$10
45 years$1,907$1,123$633$345$184$8
46 years$1,844$1,071$595$319$167$7
47 years$1,785$1,022$559$295$152$6
48 years$1,727$976$525$272$138$5
49 years$1,673$932$493$252$125$4
50 years$1,621$890$464$233$114$3

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 $2,447 every year, while hoping to spend $48,221 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: 71/7/22 Blend
55$1,660,000$1,660,000$1,660,000$1,660,000
56$1,831,844$1,743,864$1,718,134$1,951,765
57$1,967,385$1,778,007$1,724,385$2,066,224
58$2,115,136$1,812,206$1,729,229$2,185,574
59$2,276,290$1,846,414$1,732,568$2,315,074
60$2,452,162$1,880,579$1,734,299$2,455,725
61$2,644,199$1,914,644$1,734,315$2,608,631
62$2,853,994$1,948,548$1,732,502$2,775,009
63$3,083,301$1,982,227$1,728,740$2,956,198
64$3,334,051$2,015,609$1,722,906$3,153,677
65$3,608,369$2,048,619$1,714,868$3,369,072
66$3,908,597$2,081,175$1,704,490$3,604,179
67$4,237,311$2,113,190$1,691,628$3,860,976
68$4,597,350$2,144,570$1,676,131$4,141,642
69$4,991,840$2,175,214$1,657,841$4,448,579
70$5,424,223$2,205,015$1,636,594$4,784,437
71$5,898,290$2,233,857$1,612,217$5,152,133
72$6,418,217$2,261,618$1,584,528$5,554,885
73$6,988,603$2,288,165$1,553,338$5,996,239
74$7,614,515$2,313,359$1,518,448$6,480,102
75$8,301,530$2,337,049$1,479,652$7,010,783
76$9,055,798$2,359,075$1,436,731$7,593,030
77$9,884,087$2,379,267$1,389,459$8,232,077
78$10,793,856$2,397,444$1,337,598$8,933,692
79$11,793,322$2,413,411$1,280,900$9,704,233
80$12,891,536$2,426,964$1,219,106$10,550,709
81$14,098,469$2,437,882$1,151,943$11,480,843
82$15,425,108$2,445,933$1,079,127$12,503,150
83$16,883,554$2,450,869$1,000,364$13,627,014
84$18,487,143$2,452,427$915,342$14,862,777
85$20,250,563$2,450,328$823,738$16,221,841
86$22,190,001$2,444,275$725,213$17,716,771
87$24,323,289$2,433,952$619,416$19,361,415
88$26,670,074$2,419,025$505,976$21,171,039
89$29,252,004$2,399,140$384,509$23,162,467
90$32,092,931$2,373,921$254,612$25,354,241
91$35,219,135$2,342,968$115,867$27,766,801
92$38,659,573$2,305,859$0$30,422,671
93$42,446,150$2,262,147$0$33,354,238
94$46,614,022$2,211,357$0$36,610,824
95$51,201,926$2,152,987$0$40,195,471
96$56,252,543$2,086,504$0$44,141,536
97$61,812,907$2,011,347$0$48,485,776
98$67,934,839$1,926,919$0$53,268,693
99$74,675,445$1,832,590$0$58,534,921
100$82,097,647$1,727,693$0$64,333,640