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%18.5%
1 years$155,249$153,866$152,517$151,200$149,914$144,768
2 years$76,856$75,424$74,037$72,692$71,388$66,255
3 years$50,728$49,291$47,907$46,575$45,291$40,334
4 years$37,667$36,234$34,864$33,554$32,302$27,558
5 years$29,832$28,408$27,056$25,773$24,556$20,037
6 years$24,611$23,197$21,865$20,611$19,430$15,140
7 years$20,883$19,481$18,170$16,945$15,802$11,740
8 years$18,088$16,699$15,410$14,215$13,109$9,273
9 years$15,915$14,539$13,272$12,108$11,040$7,424
10 years$14,178$12,816$11,571$10,437$9,406$6,005
11 years$12,758$11,409$10,187$9,084$8,090$4,896
12 years$11,575$10,240$9,041$7,967$7,010$4,017
13 years$10,575$9,254$8,077$7,034$6,113$3,312
14 years$9,719$8,412$7,257$6,244$5,359$2,742
15 years$8,977$7,684$6,553$5,569$4,718$2,278
16 years$8,329$7,050$5,941$4,986$4,170$1,897
17 years$7,758$6,493$5,406$4,480$3,697$1,583
18 years$7,250$6,000$4,935$4,037$3,288$1,324
19 years$6,797$5,560$4,518$3,648$2,930$1,109
20 years$6,390$5,167$4,146$3,304$2,617$930
21 years$6,021$4,813$3,814$2,999$2,342$780
22 years$5,687$4,493$3,515$2,726$2,100$655
23 years$5,382$4,202$3,245$2,483$1,885$551
24 years$5,103$3,937$3,001$2,265$1,694$464
25 years$4,847$3,695$2,780$2,068$1,524$390
26 years$4,611$3,472$2,578$1,891$1,373$328
27 years$4,392$3,268$2,394$1,731$1,238$277
28 years$4,190$3,079$2,226$1,586$1,117$233
29 years$4,002$2,905$2,071$1,454$1,009$196
30 years$3,827$2,743$1,929$1,335$911$166
31 years$3,663$2,593$1,799$1,226$824$140
32 years$3,510$2,454$1,678$1,127$745$118
33 years$3,367$2,324$1,567$1,036$675$99
34 years$3,232$2,203$1,464$953$611$84
35 years$3,105$2,089$1,369$877$553$71
36 years$2,986$1,983$1,280$808$501$60
37 years$2,873$1,883$1,198$745$454$50
38 years$2,767$1,790$1,122$686$412$42
39 years$2,666$1,702$1,051$633$373$36
40 years$2,570$1,619$985$584$339$30
41 years$2,480$1,541$924$538$307$25
42 years$2,394$1,468$867$497$279$21
43 years$2,312$1,399$813$459$253$18
44 years$2,234$1,333$764$424$230$15
45 years$2,159$1,271$717$391$209$13
46 years$2,089$1,213$673$361$189$11
47 years$2,021$1,157$633$334$172$9
48 years$1,956$1,105$594$308$156$8
49 years$1,895$1,055$559$285$142$7
50 years$1,836$1,008$525$264$129$6

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 $5,107 every year, while hoping to spend $53,572 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: 44/37/19 Blend
55$1,880,000$1,880,000$1,880,000$1,880,000
56$2,077,028$1,977,388$1,948,248$2,156,795
57$2,231,885$2,017,280$1,956,514$2,253,308
58$2,400,741$2,057,331$1,963,262$2,352,178
59$2,584,969$2,097,492$1,968,383$2,458,228
60$2,786,078$2,137,711$1,971,766$2,572,149
61$3,005,729$2,177,930$1,973,291$2,694,700
62$3,245,752$2,218,087$1,972,835$2,826,720
63$3,508,160$2,258,116$1,970,267$2,969,134
64$3,795,172$2,297,942$1,965,450$3,122,962
65$4,109,228$2,337,490$1,958,241$3,289,330
66$4,453,016$2,376,674$1,948,489$3,469,480
67$4,829,497$2,415,405$1,936,037$3,664,780
68$5,241,931$2,453,585$1,920,719$3,876,742
69$5,693,908$2,491,110$1,902,363$4,107,031
70$6,189,381$2,527,869$1,880,787$4,357,488
71$6,732,705$2,563,742$1,855,801$4,630,138
72$7,328,677$2,598,601$1,827,206$4,927,220
73$7,982,579$2,632,309$1,794,794$5,251,201
74$8,700,229$2,664,720$1,758,347$5,604,803
75$9,488,038$2,695,677$1,717,637$5,991,028
76$10,353,066$2,725,013$1,672,426$6,413,188
77$11,303,089$2,752,549$1,622,463$6,874,937
78$12,346,677$2,778,097$1,567,488$7,380,304
79$13,493,266$2,801,452$1,507,227$7,933,733
80$14,753,256$2,822,399$1,441,396$8,540,126
81$16,138,100$2,840,709$1,369,694$9,204,890
82$17,660,418$2,856,136$1,291,811$9,933,989
83$19,334,115$2,868,420$1,207,421$10,733,997
84$21,174,507$2,877,285$1,116,182$11,612,170
85$23,198,470$2,882,436$1,017,738$12,576,506
86$25,424,599$2,883,560$911,717$13,635,826
87$27,873,380$2,880,326$797,731$14,799,859
88$30,567,384$2,872,381$675,374$16,079,333
89$33,531,480$2,859,351$544,222$17,486,078
90$36,793,070$2,840,838$403,832$19,033,141
91$40,382,345$2,816,421$253,743$20,734,906
92$44,332,572$2,785,654$93,472$22,607,237
93$48,680,407$2,748,063$0$24,667,624
94$53,466,237$2,703,147$0$26,951,077
95$58,734,565$2,650,373$0$29,484,383
96$64,534,427$2,589,178$0$32,272,128
97$70,919,858$2,518,966$0$35,340,280
98$77,950,394$2,439,106$0$38,717,461
99$85,691,641$2,348,930$0$42,435,224
100$94,215,890$2,247,729$0$46,528,344