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%18.4%
1 years$137,081$135,860$134,669$133,506$132,371$127,878
2 years$67,862$66,598$65,373$64,186$63,034$58,552
3 years$44,792$43,523$42,301$41,124$39,991$35,662
4 years$33,259$31,994$30,784$29,628$28,522$24,378
5 years$26,341$25,083$23,890$22,757$21,682$17,734
6 years$21,731$20,483$19,306$18,199$17,156$13,408
7 years$18,439$17,201$16,044$14,962$13,953$10,403
8 years$15,971$14,745$13,606$12,552$11,575$8,221
9 years$14,053$12,838$11,719$10,691$9,748$6,586
10 years$12,519$11,316$10,217$9,216$8,306$5,331
11 years$11,265$10,074$8,995$8,021$7,143$4,349
12 years$10,221$9,042$7,983$7,035$6,190$3,571
13 years$9,338$8,171$7,132$6,211$5,398$2,946
14 years$8,582$7,427$6,408$5,513$4,732$2,441
15 years$7,927$6,785$5,786$4,917$4,166$2,029
16 years$7,354$6,225$5,246$4,403$3,682$1,691
17 years$6,850$5,733$4,773$3,956$3,265$1,412
18 years$6,402$5,298$4,357$3,565$2,903$1,182
19 years$6,002$4,910$3,989$3,221$2,587$990
20 years$5,642$4,562$3,661$2,917$2,311$831
21 years$5,317$4,250$3,367$2,648$2,068$698
22 years$5,021$3,967$3,104$2,407$1,854$587
23 years$4,752$3,710$2,866$2,192$1,664$494
24 years$4,506$3,476$2,650$2,000$1,496$416
25 years$4,280$3,262$2,455$1,826$1,346$350
26 years$4,071$3,066$2,276$1,670$1,212$295
27 years$3,878$2,885$2,114$1,528$1,093$249
28 years$3,700$2,719$1,965$1,400$986$210
29 years$3,534$2,565$1,829$1,284$891$177
30 years$3,379$2,422$1,703$1,179$805$149
31 years$3,235$2,290$1,588$1,082$728$126
32 years$3,099$2,167$1,482$995$658$106
33 years$2,973$2,052$1,383$915$596$90
34 years$2,854$1,945$1,293$842$539$76
35 years$2,742$1,845$1,208$775$488$64
36 years$2,636$1,751$1,131$714$443$54
37 years$2,537$1,663$1,058$657$401$46
38 years$2,443$1,580$991$606$364$38
39 years$2,354$1,503$928$559$330$32
40 years$2,269$1,430$870$515$299$27
41 years$2,189$1,361$816$475$271$23
42 years$2,113$1,296$765$439$246$20
43 years$2,041$1,235$718$405$223$17
44 years$1,972$1,177$674$374$203$14
45 years$1,907$1,123$633$345$184$12
46 years$1,844$1,071$595$319$167$10
47 years$1,785$1,022$559$295$152$8
48 years$1,727$976$525$272$138$7
49 years$1,673$932$493$252$125$6
50 years$1,621$890$464$233$114$5

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 $6,266 every year, while hoping to spend $58,096 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: 49/31/20 Blend
55$1,660,000$1,660,000$1,660,000$1,660,000
56$1,835,783$1,747,803$1,722,073$1,915,143
57$1,961,220$1,771,632$1,717,949$1,994,679
58$2,097,503$1,794,681$1,711,740$2,074,621
59$2,245,679$1,816,851$1,703,314$2,160,245
60$2,406,897$1,838,036$1,692,534$2,252,110
61$2,582,423$1,858,122$1,679,255$2,350,831
62$2,773,648$1,876,987$1,663,328$2,457,090
63$2,982,104$1,894,504$1,644,594$2,571,639
64$3,209,477$1,910,533$1,622,886$2,695,310
65$3,457,623$1,924,928$1,598,032$2,829,021
66$3,728,584$1,937,534$1,569,850$2,973,788
67$4,024,610$1,948,183$1,538,150$3,130,732
68$4,348,175$1,956,698$1,502,732$3,301,090
69$4,702,004$1,962,892$1,463,390$3,486,230
70$5,089,100$1,966,565$1,419,904$3,687,662
71$5,512,765$1,967,503$1,372,048$3,907,055
72$5,976,638$1,965,482$1,319,583$4,146,252
73$6,484,725$1,960,261$1,262,259$4,407,285
74$7,041,439$1,951,586$1,199,817$4,692,402
75$7,651,639$1,939,187$1,131,984$5,004,082
76$8,320,677$1,922,778$1,058,476$5,345,063
77$9,054,447$1,902,055$978,996$5,718,368
78$9,859,440$1,876,695$893,232$6,127,335
79$10,742,808$1,846,359$800,860$6,575,646
80$11,712,428$1,810,683$701,542$7,067,368
81$12,776,975$1,769,286$594,923$7,606,987
82$13,946,007$1,721,761$480,634$8,199,458
83$15,230,052$1,667,680$358,287$8,850,245
84$16,640,709$1,606,588$227,482$9,565,380
85$18,190,754$1,538,004$87,795$10,351,521
86$19,894,264$1,461,419$0$11,216,012
87$21,766,745$1,376,295$0$12,180,032
88$23,825,283$1,282,063$0$13,260,292
89$26,088,699$1,178,121$0$14,448,004
90$28,577,730$1,063,833$0$15,754,157
91$31,315,223$938,526$0$17,190,870
92$34,326,352$801,490$0$18,771,503
93$37,638,851$651,974$0$20,510,788
94$41,283,278$489,184$0$22,424,966
95$45,293,302$312,284$0$24,531,946
96$49,706,021$120,389$0$26,851,470
97$54,562,311$0$0$29,405,307
98$59,907,210$0$0$32,247,281
99$65,790,344$0$0$35,420,861
100$72,266,395$0$0$38,914,504