Can I retire at age 56 with 1,890,000?

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 $1,890,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.8%
1 years$156,074$154,684$153,328$152,004$150,711$145,945
2 years$77,265$75,826$74,431$73,079$71,767$67,009
3 years$50,998$49,553$48,162$46,822$45,532$40,931
4 years$37,867$36,427$35,049$33,733$32,474$28,064
5 years$29,991$28,559$27,200$25,910$24,686$20,481
6 years$24,742$23,320$21,981$20,720$19,533$15,535
7 years$20,994$19,585$18,267$17,035$15,886$12,095
8 years$18,184$16,788$15,492$14,291$13,179$9,592
9 years$16,000$14,617$13,343$12,172$11,098$7,713
10 years$14,254$12,884$11,633$10,493$9,456$6,266
11 years$12,826$11,470$10,241$9,132$8,133$5,132
12 years$11,637$10,295$9,089$8,010$7,048$4,230
13 years$10,632$9,303$8,120$7,071$6,146$3,505
14 years$9,771$8,456$7,296$6,277$5,387$2,916
15 years$9,025$7,725$6,587$5,598$4,743$2,434
16 years$8,373$7,088$5,972$5,013$4,192$2,037
17 years$7,799$6,527$5,435$4,504$3,717$1,709
18 years$7,289$6,032$4,961$4,059$3,305$1,437
19 years$6,833$5,590$4,542$3,667$2,946$1,210
20 years$6,424$5,195$4,168$3,322$2,631$1,020
21 years$6,053$4,839$3,834$3,015$2,355$860
22 years$5,717$4,517$3,534$2,741$2,111$727
23 years$5,411$4,224$3,263$2,496$1,895$614
24 years$5,130$3,958$3,017$2,277$1,703$520
25 years$4,873$3,714$2,795$2,079$1,532$440
26 years$4,635$3,491$2,592$1,901$1,380$372
27 years$4,416$3,285$2,407$1,740$1,245$315
28 years$4,212$3,096$2,237$1,594$1,123$267
29 years$4,023$2,920$2,082$1,462$1,014$227
30 years$3,847$2,758$1,939$1,342$916$192
31 years$3,683$2,607$1,808$1,232$828$163
32 years$3,529$2,467$1,687$1,133$749$138
33 years$3,385$2,336$1,575$1,041$678$117
34 years$3,249$2,214$1,472$958$614$99
35 years$3,122$2,100$1,376$882$556$84
36 years$3,002$1,993$1,287$812$504$72
37 years$2,888$1,893$1,205$749$457$61
38 years$2,781$1,799$1,128$690$414$52
39 years$2,680$1,711$1,057$636$375$44
40 years$2,584$1,628$991$587$341$37
41 years$2,493$1,550$929$541$309$31
42 years$2,406$1,476$871$500$280$27
43 years$2,324$1,406$818$461$254$23
44 years$2,246$1,340$768$426$231$19
45 years$2,171$1,278$721$393$210$16
46 years$2,100$1,219$677$363$190$14
47 years$2,032$1,164$636$336$173$12
48 years$1,967$1,111$598$310$157$10
49 years$1,905$1,061$562$287$143$8
50 years$1,845$1,013$528$265$129$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $1,890,000, adding $5,158 every year, while hoping to spend $34,570 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: 27/45/28 Blend
55$1,890,000$1,890,000$1,890,000$1,890,000
56$2,088,100$1,987,930$1,958,635$2,126,172
57$2,264,305$2,048,557$1,987,468$2,218,045
58$2,457,323$2,110,995$2,016,107$2,313,306
59$2,668,834$2,175,298$2,044,510$2,414,883
60$2,900,686$2,241,519$2,072,633$2,523,338
61$3,154,915$2,309,713$2,100,426$2,639,290
62$3,433,765$2,379,937$2,127,838$2,763,418
63$3,739,704$2,452,249$2,154,815$2,896,469
64$4,075,453$2,526,708$2,181,301$3,039,263
65$4,444,009$2,603,377$2,207,234$3,192,704
66$4,848,673$2,682,317$2,232,552$3,357,785
67$5,293,080$2,763,594$2,257,185$3,535,600
68$5,781,238$2,847,273$2,281,064$3,727,350
69$6,317,558$2,933,423$2,304,113$3,934,360
70$6,906,901$3,022,113$2,326,253$4,158,085
71$7,554,623$3,113,415$2,347,401$4,400,130
72$8,266,625$3,207,402$2,367,469$4,662,258
73$9,049,405$3,304,150$2,386,364$4,946,413
74$9,910,126$3,403,735$2,403,989$5,254,733
75$10,856,678$3,506,237$2,420,242$5,589,575
76$11,897,753$3,611,736$2,435,014$5,953,532
77$13,042,929$3,720,317$2,448,192$6,349,460
78$14,302,759$3,832,063$2,459,657$6,780,504
79$15,688,869$3,947,063$2,469,284$7,250,130
80$17,214,070$4,065,405$2,476,942$7,762,153
81$18,892,477$4,187,182$2,482,491$8,320,776
82$20,739,642$4,312,486$2,485,787$8,930,629
83$22,772,703$4,441,415$2,486,678$9,596,813
84$25,010,540$4,574,066$2,485,004$10,324,946
85$27,473,960$4,710,541$2,480,596$11,121,217
86$30,185,888$4,850,941$2,473,280$11,992,446
87$33,171,585$4,995,373$2,462,871$12,946,145
88$36,458,884$5,143,944$2,449,175$13,990,591
89$40,078,458$5,296,765$2,431,990$15,134,904
90$44,064,103$5,453,949$2,411,104$16,389,131
91$48,453,059$5,615,610$2,386,293$17,764,343
92$53,286,362$5,781,866$2,357,326$19,272,740
93$58,609,232$5,952,839$2,323,957$20,927,760
94$64,471,497$6,128,650$2,285,932$22,744,215
95$70,928,062$6,309,426$2,242,983$24,738,423
96$78,039,431$6,495,295$2,194,830$26,928,367
97$85,872,276$6,686,388$2,141,181$29,333,861
98$94,500,066$6,882,839$2,081,728$31,976,740
99$104,003,758$7,084,783$2,016,151$34,881,063
100$114,472,564$7,292,360$1,944,114$38,073,344