Can I retire at age 56 with 1,860,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $1,860,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.2%
1 years$153,597$152,229$150,894$149,591$148,319$145,742
2 years$76,038$74,622$73,250$71,919$70,628$68,040
3 years$50,189$48,766$47,397$46,079$44,809$42,291
4 years$37,266$35,848$34,493$33,197$31,958$29,529
5 years$29,515$28,106$26,768$25,499$24,294$21,961
6 years$24,349$22,950$21,633$20,392$19,223$16,989
7 years$20,661$19,274$17,977$16,765$15,634$13,498
8 years$17,896$16,521$15,246$14,064$12,970$10,933
9 years$15,746$14,385$13,131$11,979$10,922$8,984
10 years$14,027$12,679$11,448$10,326$9,306$7,464
11 years$12,622$11,288$10,079$8,987$8,004$6,255
12 years$11,452$10,131$8,945$7,883$6,936$5,279
13 years$10,463$9,156$7,991$6,959$6,048$4,480
14 years$9,615$8,322$7,180$6,178$5,302$3,821
15 years$8,882$7,602$6,483$5,509$4,668$3,270
16 years$8,241$6,975$5,878$4,933$4,126$2,809
17 years$7,675$6,424$5,348$4,432$3,658$2,419
18 years$7,173$5,936$4,882$3,994$3,253$2,087
19 years$6,725$5,501$4,470$3,609$2,899$1,805
20 years$6,322$5,112$4,102$3,269$2,590$1,564
21 years$5,957$4,762$3,773$2,967$2,317$1,357
22 years$5,626$4,445$3,477$2,697$2,077$1,178
23 years$5,325$4,157$3,211$2,457$1,865$1,025
24 years$5,049$3,895$2,969$2,241$1,676$892
25 years$4,795$3,655$2,750$2,046$1,508$777
26 years$4,562$3,435$2,551$1,871$1,358$677
27 years$4,346$3,233$2,369$1,713$1,225$590
28 years$4,146$3,047$2,202$1,569$1,105$515
29 years$3,959$2,874$2,049$1,439$998$450
30 years$3,786$2,714$1,909$1,321$902$393
31 years$3,624$2,566$1,779$1,213$815$343
32 years$3,473$2,428$1,660$1,115$737$300
33 years$3,331$2,299$1,550$1,025$667$262
34 years$3,198$2,179$1,448$943$604$229
35 years$3,072$2,067$1,354$868$547$200
36 years$2,954$1,962$1,267$800$496$175
37 years$2,843$1,863$1,186$737$449$153
38 years$2,737$1,771$1,110$679$407$134
39 years$2,637$1,684$1,040$626$369$117
40 years$2,543$1,602$975$577$335$103
41 years$2,453$1,525$914$533$304$90
42 years$2,368$1,452$858$492$276$79
43 years$2,287$1,384$805$454$250$69
44 years$2,210$1,319$755$419$227$60
45 years$2,136$1,258$709$387$206$53
46 years$2,066$1,200$666$358$187$46
47 years$2,000$1,145$626$330$170$40
48 years$1,936$1,093$588$305$154$35
49 years$1,874$1,044$553$282$140$31
50 years$1,816$997$520$261$127$27

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $1,860,000, adding $6,151 every year, while hoping to spend $31,354 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: 64/25/11 Blend
55$1,860,000$1,860,000$1,860,000$1,860,000
56$2,056,065$1,957,485$1,928,655$2,182,196
57$2,232,423$2,020,041$1,959,904$2,329,760
58$2,425,719$2,084,612$1,991,150$2,486,659
59$2,637,647$2,151,263$2,022,358$2,657,243
60$2,870,074$2,220,061$2,053,494$2,842,842
61$3,125,054$2,291,078$2,084,519$3,044,919
62$3,404,854$2,364,384$2,115,394$3,265,087
63$3,711,965$2,440,055$2,146,077$3,505,120
64$4,049,137$2,518,169$2,176,521$3,766,969
65$4,419,394$2,598,804$2,206,680$4,052,785
66$4,826,070$2,682,044$2,236,502$4,364,935
67$5,272,839$2,767,974$2,265,934$4,706,026
68$5,763,744$2,856,680$2,294,919$5,078,927
69$6,303,244$2,948,256$2,323,397$5,486,799
70$6,896,249$3,042,794$2,351,304$5,933,122
71$7,548,167$3,140,392$2,378,573$6,421,730
72$8,264,959$3,241,149$2,405,134$6,956,843
73$9,053,190$3,345,171$2,430,911$7,543,113
74$9,920,094$3,452,563$2,455,826$8,185,660
75$10,873,643$3,563,438$2,479,795$8,890,125
76$11,922,616$3,677,909$2,502,730$9,662,721
77$13,076,691$3,796,094$2,524,540$10,510,295
78$14,346,528$3,918,117$2,545,126$11,440,384
79$15,743,872$4,044,103$2,564,386$12,461,296
80$17,281,666$4,174,183$2,582,212$13,582,181
81$18,974,171$4,308,493$2,598,491$14,813,118
82$20,837,099$4,447,172$2,613,103$16,165,214
83$22,887,764$4,590,364$2,625,923$17,650,702
84$25,145,243$4,738,219$2,636,819$19,283,061
85$27,630,558$4,890,891$2,645,652$21,077,144
86$30,366,870$5,048,540$2,652,276$23,049,310
87$33,379,703$5,211,331$2,656,540$25,217,587
88$36,697,180$5,379,434$2,658,281$27,601,836
89$40,350,291$5,553,025$2,657,333$30,223,943
90$44,373,185$5,732,287$2,653,518$33,108,017
91$48,803,490$5,917,409$2,646,650$36,280,627
92$53,682,669$6,108,585$2,636,536$39,771,046
93$59,056,413$6,306,018$2,622,972$43,611,528
94$64,975,069$6,509,915$2,605,744$47,837,612
95$71,494,118$6,720,493$2,584,628$52,488,459
96$78,674,695$6,937,974$2,559,390$57,607,219
97$86,584,169$7,162,589$2,529,784$63,241,438
98$95,296,775$7,394,577$2,495,553$69,443,507
99$104,894,319$7,634,185$2,456,427$76,271,157
100$115,466,947$7,881,667$2,412,125$83,787,999