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%13.7%
1 years$155,249$153,866$152,517$151,200$149,914$147,613
2 years$76,856$75,424$74,037$72,692$71,388$69,075
3 years$50,728$49,291$47,907$46,575$45,291$43,039
4 years$37,667$36,234$34,864$33,554$32,302$30,127
5 years$29,832$28,408$27,056$25,773$24,556$22,465
6 years$24,611$23,197$21,865$20,611$19,430$17,425
7 years$20,883$19,481$18,170$16,945$15,802$13,884
8 years$18,088$16,699$15,410$14,215$13,109$11,278
9 years$15,915$14,539$13,272$12,108$11,040$9,295
10 years$14,178$12,816$11,571$10,437$9,406$7,746
11 years$12,758$11,409$10,187$9,084$8,090$6,512
12 years$11,575$10,240$9,041$7,967$7,010$5,513
13 years$10,575$9,254$8,077$7,034$6,113$4,695
14 years$9,719$8,412$7,257$6,244$5,359$4,017
15 years$8,977$7,684$6,553$5,569$4,718$3,450
16 years$8,329$7,050$5,941$4,986$4,170$2,973
17 years$7,758$6,493$5,406$4,480$3,697$2,570
18 years$7,250$6,000$4,935$4,037$3,288$2,226
19 years$6,797$5,560$4,518$3,648$2,930$1,932
20 years$6,390$5,167$4,146$3,304$2,617$1,680
21 years$6,021$4,813$3,814$2,999$2,342$1,463
22 years$5,687$4,493$3,515$2,726$2,100$1,275
23 years$5,382$4,202$3,245$2,483$1,885$1,113
24 years$5,103$3,937$3,001$2,265$1,694$973
25 years$4,847$3,695$2,780$2,068$1,524$851
26 years$4,611$3,472$2,578$1,891$1,373$744
27 years$4,392$3,268$2,394$1,731$1,238$652
28 years$4,190$3,079$2,226$1,586$1,117$571
29 years$4,002$2,905$2,071$1,454$1,009$501
30 years$3,827$2,743$1,929$1,335$911$439
31 years$3,663$2,593$1,799$1,226$824$385
32 years$3,510$2,454$1,678$1,127$745$338
33 years$3,367$2,324$1,567$1,036$675$297
34 years$3,232$2,203$1,464$953$611$260
35 years$3,105$2,089$1,369$877$553$229
36 years$2,986$1,983$1,280$808$501$201
37 years$2,873$1,883$1,198$745$454$176
38 years$2,767$1,790$1,122$686$412$155
39 years$2,666$1,702$1,051$633$373$136
40 years$2,570$1,619$985$584$339$120
41 years$2,480$1,541$924$538$307$105
42 years$2,394$1,468$867$497$279$92
43 years$2,312$1,399$813$459$253$81
44 years$2,234$1,333$764$424$230$71
45 years$2,159$1,271$717$391$209$63
46 years$2,089$1,213$673$361$189$55
47 years$2,021$1,157$633$334$172$49
48 years$1,956$1,105$594$308$156$43
49 years$1,895$1,055$559$285$142$38
50 years$1,836$1,008$525$264$129$33

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 $3,180 every year, while hoping to spend $32,991 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: 70/13/17 Blend
55$1,880,000$1,880,000$1,880,000$1,880,000
56$2,075,040$1,975,400$1,946,260$2,211,746
57$2,251,592$2,037,093$1,976,358$2,364,842
58$2,445,047$2,100,702$2,006,358$2,528,111
59$2,657,093$2,166,288$2,036,222$2,705,970
60$2,889,591$2,233,911$2,065,911$2,899,855
61$3,144,591$2,303,635$2,095,380$3,111,349
62$3,424,349$2,375,523$2,124,586$3,342,194
63$3,731,352$2,449,642$2,153,478$3,594,307
64$4,068,336$2,526,061$2,182,006$3,869,801
65$4,438,320$2,604,851$2,210,116$4,171,004
66$4,844,624$2,686,084$2,237,751$4,500,479
67$5,290,910$2,769,837$2,264,850$4,861,048
68$5,781,209$2,856,185$2,291,348$5,255,822
69$6,319,963$2,945,209$2,317,180$5,688,225
70$6,912,066$3,036,991$2,342,272$6,162,033
71$7,562,909$3,131,616$2,366,550$6,681,400
72$8,278,431$3,229,170$2,389,934$7,250,908
73$9,065,175$3,329,744$2,412,342$7,875,602
74$9,930,351$3,433,429$2,433,683$8,561,039
75$10,881,902$3,540,322$2,453,867$9,313,345
76$11,928,578$3,650,520$2,472,794$10,139,266
77$13,080,023$3,764,125$2,490,361$11,046,235
78$14,346,858$3,881,240$2,506,462$12,042,443
79$15,740,790$4,001,974$2,520,981$13,136,915
80$17,274,716$4,126,435$2,533,798$14,339,592
81$18,962,845$4,254,739$2,544,789$15,661,431
82$20,820,836$4,387,002$2,553,820$17,114,503
83$22,865,941$4,523,345$2,560,753$18,712,109
84$25,117,170$4,663,892$2,565,441$20,468,904
85$27,595,470$4,808,771$2,567,732$22,401,038
86$30,323,922$4,958,115$2,567,465$24,526,304
87$33,327,958$5,112,058$2,564,471$26,864,311
88$36,635,601$5,270,741$2,558,573$29,436,665
89$40,277,733$5,434,308$2,549,585$32,267,173
90$44,288,379$5,602,906$2,537,313$35,382,070
91$48,705,033$5,776,688$2,521,553$38,810,264
92$53,569,013$5,955,812$2,502,092$42,583,611
93$58,925,845$6,140,439$2,478,704$46,737,212
94$64,825,696$6,330,736$2,451,156$51,309,750
95$71,323,849$6,526,874$2,419,201$56,343,849
96$78,481,220$6,729,029$2,382,583$61,886,479
97$86,364,936$6,937,384$2,341,032$67,989,401
98$95,048,969$7,152,125$2,294,265$74,709,650
99$104,614,830$7,373,445$2,241,989$82,110,081
100$115,152,340$7,601,541$2,183,894$90,259,954