Can I retire at age 56 with 1,880,000?

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 $1,880,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.6%
1 years$155,249$153,866$152,517$151,200$149,914$148,907
2 years$76,856$75,424$74,037$72,692$71,388$70,372
3 years$50,728$49,291$47,907$46,575$45,291$44,298
4 years$37,667$36,234$34,864$33,554$32,302$31,340
5 years$29,832$28,408$27,056$25,773$24,556$23,626
6 years$24,611$23,197$21,865$20,611$19,430$18,535
7 years$20,883$19,481$18,170$16,945$15,802$14,942
8 years$18,088$16,699$15,410$14,215$13,109$12,284
9 years$15,915$14,539$13,272$12,108$11,040$10,250
10 years$14,178$12,816$11,571$10,437$9,406$8,651
11 years$12,758$11,409$10,187$9,084$8,090$7,368
12 years$11,575$10,240$9,041$7,967$7,010$6,322
13 years$10,575$9,254$8,077$7,034$6,113$5,457
14 years$9,719$8,412$7,257$6,244$5,359$4,735
15 years$8,977$7,684$6,553$5,569$4,718$4,125
16 years$8,329$7,050$5,941$4,986$4,170$3,607
17 years$7,758$6,493$5,406$4,480$3,697$3,163
18 years$7,250$6,000$4,935$4,037$3,288$2,781
19 years$6,797$5,560$4,518$3,648$2,930$2,451
20 years$6,390$5,167$4,146$3,304$2,617$2,165
21 years$6,021$4,813$3,814$2,999$2,342$1,915
22 years$5,687$4,493$3,515$2,726$2,100$1,696
23 years$5,382$4,202$3,245$2,483$1,885$1,504
24 years$5,103$3,937$3,001$2,265$1,694$1,336
25 years$4,847$3,695$2,780$2,068$1,524$1,188
26 years$4,611$3,472$2,578$1,891$1,373$1,057
27 years$4,392$3,268$2,394$1,731$1,238$941
28 years$4,190$3,079$2,226$1,586$1,117$838
29 years$4,002$2,905$2,071$1,454$1,009$747
30 years$3,827$2,743$1,929$1,335$911$667
31 years$3,663$2,593$1,799$1,226$824$595
32 years$3,510$2,454$1,678$1,127$745$531
33 years$3,367$2,324$1,567$1,036$675$474
34 years$3,232$2,203$1,464$953$611$424
35 years$3,105$2,089$1,369$877$553$379
36 years$2,986$1,983$1,280$808$501$339
37 years$2,873$1,883$1,198$745$454$303
38 years$2,767$1,790$1,122$686$412$271
39 years$2,666$1,702$1,051$633$373$242
40 years$2,570$1,619$985$584$339$217
41 years$2,480$1,541$924$538$307$194
42 years$2,394$1,468$867$497$279$174
43 years$2,312$1,399$813$459$253$155
44 years$2,234$1,333$764$424$230$139
45 years$2,159$1,271$717$391$209$125
46 years$2,089$1,213$673$361$189$112
47 years$2,021$1,157$633$334$172$100
48 years$1,956$1,105$594$308$156$89
49 years$1,895$1,055$559$285$142$80
50 years$1,836$1,008$525$264$129$72

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $1,880,000, adding $3,711 every year, while hoping to spend $51,524 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: 77/13/10 Blend
55$1,880,000$1,880,000$1,880,000$1,880,000
56$2,075,588$1,975,948$1,946,808$2,231,544
57$2,232,477$2,017,948$1,957,205$2,376,649
58$2,403,641$2,060,280$1,966,223$2,528,746
59$2,590,484$2,102,904$1,973,762$2,694,038
60$2,794,546$2,145,780$1,979,717$2,873,818
61$3,017,528$2,188,861$1,983,975$3,069,510
62$3,261,299$2,232,098$1,986,422$3,282,681
63$3,527,918$2,275,438$1,986,934$3,515,059
64$3,819,652$2,318,821$1,985,382$3,768,546
65$4,138,998$2,362,184$1,981,634$4,045,239
66$4,488,704$2,405,459$1,975,546$4,347,446
67$4,871,796$2,448,572$1,966,972$4,677,710
68$5,291,610$2,491,442$1,955,756$5,038,834
69$5,751,815$2,533,984$1,941,735$5,433,903
70$6,256,456$2,576,105$1,924,739$5,866,320
71$6,809,986$2,617,705$1,904,589$6,339,831
72$7,417,310$2,658,678$1,881,098$6,858,564
73$8,083,832$2,698,909$1,854,071$7,427,070
74$8,815,502$2,738,275$1,823,302$8,050,360
75$9,618,877$2,776,644$1,788,576$8,733,958
76$10,501,178$2,813,876$1,749,669$9,483,948
77$11,470,361$2,849,818$1,706,346$10,307,038
78$12,535,189$2,884,311$1,658,360$11,210,615
79$13,705,318$2,917,182$1,605,455$12,202,823
80$14,991,384$2,948,247$1,547,360$13,292,635
81$16,405,104$2,977,310$1,483,796$14,489,938
82$17,959,389$3,004,162$1,414,467$15,805,629
83$19,668,460$3,028,581$1,339,066$17,251,712
84$21,547,990$3,050,327$1,257,271$18,841,422
85$23,615,242$3,069,150$1,168,747$20,589,338
86$25,889,238$3,084,780$1,073,141$22,511,528
87$28,390,937$3,096,931$970,088$24,625,701
88$31,143,431$3,105,299$859,204$26,951,370
89$34,172,162$3,109,560$740,089$29,510,039
90$37,505,166$3,109,372$612,325$32,325,407
91$41,173,330$3,104,368$475,475$35,423,589
92$45,210,690$3,094,162$329,084$38,833,367
93$49,654,747$3,078,344$172,675$42,586,457
94$54,546,825$3,056,476$5,753$46,717,812
95$59,932,454$3,028,096$0$51,265,952
96$65,861,805$2,992,714$0$56,291,720
97$72,390,162$2,949,810$0$61,825,353
98$79,578,441$2,898,832$0$67,917,853
99$87,493,765$2,839,198$0$74,626,097
100$96,210,099$2,770,289$0$82,012,763