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%18.6%
1 years$139,559$138,316$137,103$135,919$134,763$130,085
2 years$69,088$67,802$66,555$65,346$64,173$59,508
3 years$45,601$44,309$43,065$41,868$40,714$36,209
4 years$33,860$32,572$31,341$30,163$29,037$24,727
5 years$26,817$25,537$24,322$23,168$22,074$17,969
6 years$22,124$20,853$19,655$18,528$17,466$13,571
7 years$18,772$17,512$16,334$15,233$14,205$10,517
8 years$16,260$15,011$13,852$12,778$11,784$8,302
9 years$14,307$13,070$11,931$10,884$9,924$6,642
10 years$12,745$11,520$10,402$9,382$8,456$5,370
11 years$11,469$10,256$9,157$8,166$7,272$4,375
12 years$10,405$9,205$8,127$7,162$6,302$3,587
13 years$9,507$8,319$7,261$6,323$5,495$2,956
14 years$8,737$7,562$6,524$5,613$4,817$2,446
15 years$8,070$6,908$5,890$5,006$4,241$2,030
16 years$7,487$6,338$5,340$4,482$3,749$1,689
17 years$6,974$5,837$4,860$4,027$3,324$1,409
18 years$6,518$5,393$4,436$3,629$2,955$1,177
19 years$6,110$4,999$4,061$3,279$2,634$985
20 years$5,744$4,645$3,727$2,970$2,353$825
21 years$5,413$4,327$3,428$2,696$2,106$692
22 years$5,112$4,039$3,160$2,451$1,887$581
23 years$4,838$3,777$2,917$2,232$1,694$488
24 years$4,587$3,539$2,698$2,036$1,523$410
25 years$4,357$3,321$2,499$1,859$1,370$345
26 years$4,145$3,121$2,318$1,700$1,234$290
27 years$3,949$2,938$2,152$1,556$1,113$244
28 years$3,767$2,768$2,001$1,426$1,004$206
29 years$3,598$2,611$1,862$1,307$907$173
30 years$3,440$2,466$1,734$1,200$819$146
31 years$3,293$2,331$1,617$1,102$741$123
32 years$3,156$2,206$1,508$1,013$670$103
33 years$3,027$2,089$1,408$931$606$87
34 years$2,905$1,980$1,316$857$549$73
35 years$2,791$1,878$1,230$789$497$62
36 years$2,684$1,782$1,151$726$451$52
37 years$2,583$1,693$1,077$669$408$44
38 years$2,487$1,609$1,009$617$370$37
39 years$2,396$1,530$945$569$336$31
40 years$2,310$1,456$886$525$304$26
41 years$2,229$1,386$831$484$276$22
42 years$2,152$1,320$779$447$251$19
43 years$2,078$1,257$731$412$227$16
44 years$2,008$1,198$686$381$206$13
45 years$1,941$1,143$644$352$187$11
46 years$1,878$1,090$605$325$170$9
47 years$1,817$1,040$569$300$155$8
48 years$1,759$993$534$277$140$7
49 years$1,703$948$502$256$127$6
50 years$1,650$906$472$237$116$5

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 $5,975 every year, while hoping to spend $30,269 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: 65/12/23 Blend
55$1,690,000$1,690,000$1,690,000$1,690,000
56$1,868,543$1,778,973$1,752,778$1,978,526
57$2,026,929$1,833,937$1,779,290$2,108,264
58$2,200,455$1,890,579$1,805,676$2,246,044
59$2,390,634$1,948,951$1,831,899$2,395,934
60$2,599,133$2,009,103$1,857,922$2,559,126
61$2,827,785$2,071,089$1,883,702$2,736,929
62$3,078,610$2,134,965$1,909,198$2,930,788
63$3,353,836$2,200,785$1,934,363$3,142,294
64$3,655,912$2,268,609$1,959,150$3,373,199
65$3,987,540$2,338,495$1,983,506$3,625,431
66$4,351,693$2,410,506$2,007,378$3,901,117
67$4,751,650$2,484,704$2,030,708$4,202,599
68$5,191,018$2,561,155$2,053,437$4,532,455
69$5,673,775$2,639,924$2,075,500$4,893,528
70$6,204,301$2,721,082$2,096,831$5,288,948
71$6,787,423$2,804,698$2,117,357$5,722,164
72$7,428,456$2,890,845$2,137,006$6,196,977
73$8,133,260$2,979,597$2,155,697$6,717,572
74$8,908,288$3,071,033$2,173,348$7,288,563
75$9,760,650$3,165,230$2,189,871$7,915,032
76$10,698,179$3,262,269$2,205,175$8,602,579
77$11,729,508$3,362,235$2,219,163$9,357,375
78$12,864,146$3,465,213$2,231,733$10,186,218
79$14,112,571$3,571,290$2,242,779$11,096,599
80$15,486,329$3,680,559$2,252,187$12,096,773
81$16,998,140$3,793,111$2,259,840$13,195,835
82$18,662,019$3,909,043$2,265,614$14,403,809
83$20,493,412$4,028,453$2,269,379$15,731,737
84$22,509,334$4,151,441$2,270,997$17,191,791
85$24,728,537$4,278,112$2,270,326$18,797,379
86$27,171,680$4,408,573$2,267,215$20,563,279
87$29,861,531$4,542,932$2,261,506$22,505,774
88$32,823,174$4,681,303$2,253,034$24,642,808
89$36,084,251$4,823,800$2,241,624$26,994,155
90$39,675,222$4,970,543$2,227,095$29,581,604
91$43,629,648$5,121,653$2,209,256$32,429,167
92$47,984,513$5,277,256$2,187,908$35,563,302
93$52,780,571$5,437,479$2,162,840$39,013,169
94$58,062,729$5,602,455$2,133,835$42,810,898
95$63,880,470$5,772,318$2,100,661$46,991,899
96$70,288,325$5,947,208$2,063,080$51,595,190
97$77,346,380$6,127,267$2,020,839$56,663,772
98$85,120,849$6,312,642$1,973,676$62,245,028
99$93,684,696$6,503,481$1,921,314$68,391,177
100$103,118,323$6,699,940$1,863,466$75,159,761