Can I retire at age 56 with 1,690,000?

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 $1,690,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.3%
1 years$139,559$138,316$137,103$135,919$134,763$134,026
2 years$69,088$67,802$66,555$65,346$64,173$63,429
3 years$45,601$44,309$43,065$41,868$40,714$39,987
4 years$33,860$32,572$31,341$30,163$29,037$28,332
5 years$26,817$25,537$24,322$23,168$22,074$21,393
6 years$22,124$20,853$19,655$18,528$17,466$16,810
7 years$18,772$17,512$16,334$15,233$14,205$13,574
8 years$16,260$15,011$13,852$12,778$11,784$11,178
9 years$14,307$13,070$11,931$10,884$9,924$9,343
10 years$12,745$11,520$10,402$9,382$8,456$7,900
11 years$11,469$10,256$9,157$8,166$7,272$6,741
12 years$10,405$9,205$8,127$7,162$6,302$5,795
13 years$9,507$8,319$7,261$6,323$5,495$5,012
14 years$8,737$7,562$6,524$5,613$4,817$4,356
15 years$8,070$6,908$5,890$5,006$4,241$3,803
16 years$7,487$6,338$5,340$4,482$3,749$3,332
17 years$6,974$5,837$4,860$4,027$3,324$2,928
18 years$6,518$5,393$4,436$3,629$2,955$2,580
19 years$6,110$4,999$4,061$3,279$2,634$2,279
20 years$5,744$4,645$3,727$2,970$2,353$2,017
21 years$5,413$4,327$3,428$2,696$2,106$1,788
22 years$5,112$4,039$3,160$2,451$1,887$1,587
23 years$4,838$3,777$2,917$2,232$1,694$1,411
24 years$4,587$3,539$2,698$2,036$1,523$1,256
25 years$4,357$3,321$2,499$1,859$1,370$1,119
26 years$4,145$3,121$2,318$1,700$1,234$998
27 years$3,949$2,938$2,152$1,556$1,113$891
28 years$3,767$2,768$2,001$1,426$1,004$795
29 years$3,598$2,611$1,862$1,307$907$711
30 years$3,440$2,466$1,734$1,200$819$636
31 years$3,293$2,331$1,617$1,102$741$569
32 years$3,156$2,206$1,508$1,013$670$509
33 years$3,027$2,089$1,408$931$606$456
34 years$2,905$1,980$1,316$857$549$408
35 years$2,791$1,878$1,230$789$497$366
36 years$2,684$1,782$1,151$726$451$328
37 years$2,583$1,693$1,077$669$408$294
38 years$2,487$1,609$1,009$617$370$264
39 years$2,396$1,530$945$569$336$236
40 years$2,310$1,456$886$525$304$212
41 years$2,229$1,386$831$484$276$190
42 years$2,152$1,320$779$447$251$171
43 years$2,078$1,257$731$412$227$153
44 years$2,008$1,198$686$381$206$138
45 years$1,941$1,143$644$352$187$123
46 years$1,878$1,090$605$325$170$111
47 years$1,817$1,040$569$300$155$100
48 years$1,759$993$534$277$140$89
49 years$1,703$948$502$256$127$80
50 years$1,650$906$472$237$116$72

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $1,690,000, adding $4,118 every year, while hoping to spend $46,987 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: 70/12/18 Blend
55$1,690,000$1,690,000$1,690,000$1,690,000
56$1,866,628$1,777,058$1,750,863$1,988,972
57$2,007,030$1,814,140$1,759,523$2,108,076
58$2,160,178$1,851,464$1,766,898$2,232,416
59$2,327,324$1,888,993$1,772,896$2,367,327
60$2,509,842$1,926,685$1,777,420$2,513,848
61$2,709,249$1,964,495$1,780,366$2,673,122
62$2,927,213$2,002,376$1,781,629$2,846,411
63$3,165,569$2,040,274$1,781,095$3,035,104
64$3,426,342$2,078,131$1,778,646$3,240,732
65$3,711,757$2,115,887$1,774,158$3,464,981
66$4,024,265$2,153,475$1,767,502$3,709,712
67$4,366,568$2,190,823$1,758,541$3,976,972
68$4,741,638$2,227,854$1,747,132$4,269,019
69$5,152,750$2,264,484$1,733,126$4,588,341
70$5,603,511$2,300,624$1,716,366$4,937,680
71$6,097,892$2,336,178$1,696,688$5,320,057
72$6,640,270$2,371,043$1,673,919$5,738,802
73$7,235,462$2,405,109$1,647,880$6,197,587
74$7,888,777$2,438,257$1,618,382$6,700,455
75$8,606,063$2,470,362$1,585,228$7,251,865
76$9,393,759$2,501,287$1,548,211$7,856,729
77$10,258,961$2,530,889$1,507,115$8,520,464
78$11,209,486$2,559,014$1,461,714$9,249,037
79$12,253,944$2,585,496$1,411,772$10,049,026
80$13,401,821$2,610,159$1,357,041$10,927,681
81$14,663,567$2,632,818$1,297,262$11,892,992
82$16,050,697$2,653,272$1,232,166$12,953,765
83$17,575,894$2,671,308$1,161,470$14,119,706
84$19,253,134$2,686,701$1,084,879$15,401,512
85$21,097,815$2,699,211$1,002,083$16,810,974
86$23,126,900$2,708,580$912,760$18,361,085
87$25,359,080$2,714,537$816,575$20,066,168
88$27,814,950$2,716,793$713,174$21,942,007
89$30,517,200$2,715,041$602,190$24,005,999
90$33,490,831$2,708,954$483,240$26,277,317
91$36,763,389$2,698,187$355,922$28,777,094
92$40,365,229$2,682,372$219,819$31,528,619
93$44,329,793$2,661,119$74,494$34,557,562
94$48,693,933$2,634,015$0$37,892,213
95$53,498,254$2,600,621$0$41,579,231
96$58,787,498$2,560,474$0$45,653,775
97$64,610,966$2,513,081$0$50,139,490
98$71,022,983$2,457,920$0$55,078,217
99$78,083,410$2,394,440$0$60,516,062
100$85,858,206$2,322,057$0$66,503,834