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

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 $1,890,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.9%
1 years$156,074$154,684$153,328$152,004$150,711$145,887
2 years$77,265$75,826$74,431$73,079$71,767$66,951
3 years$50,998$49,553$48,162$46,822$45,532$40,876
4 years$37,867$36,427$35,049$33,733$32,474$28,013
5 years$29,991$28,559$27,200$25,910$24,686$20,432
6 years$24,742$23,320$21,981$20,720$19,533$15,490
7 years$20,994$19,585$18,267$17,035$15,886$12,053
8 years$18,184$16,788$15,492$14,291$13,179$9,553
9 years$16,000$14,617$13,343$12,172$11,098$7,677
10 years$14,254$12,884$11,633$10,493$9,456$6,233
11 years$12,826$11,470$10,241$9,132$8,133$5,102
12 years$11,637$10,295$9,089$8,010$7,048$4,203
13 years$10,632$9,303$8,120$7,071$6,146$3,479
14 years$9,771$8,456$7,296$6,277$5,387$2,893
15 years$9,025$7,725$6,587$5,598$4,743$2,413
16 years$8,373$7,088$5,972$5,013$4,192$2,018
17 years$7,799$6,527$5,435$4,504$3,717$1,692
18 years$7,289$6,032$4,961$4,059$3,305$1,421
19 years$6,833$5,590$4,542$3,667$2,946$1,195
20 years$6,424$5,195$4,168$3,322$2,631$1,007
21 years$6,053$4,839$3,834$3,015$2,355$849
22 years$5,717$4,517$3,534$2,741$2,111$717
23 years$5,411$4,224$3,263$2,496$1,895$605
24 years$5,130$3,958$3,017$2,277$1,703$512
25 years$4,873$3,714$2,795$2,079$1,532$433
26 years$4,635$3,491$2,592$1,901$1,380$366
27 years$4,416$3,285$2,407$1,740$1,245$310
28 years$4,212$3,096$2,237$1,594$1,123$262
29 years$4,023$2,920$2,082$1,462$1,014$222
30 years$3,847$2,758$1,939$1,342$916$188
31 years$3,683$2,607$1,808$1,232$828$159
32 years$3,529$2,467$1,687$1,133$749$135
33 years$3,385$2,336$1,575$1,041$678$115
34 years$3,249$2,214$1,472$958$614$97
35 years$3,122$2,100$1,376$882$556$82
36 years$3,002$1,993$1,287$812$504$70
37 years$2,888$1,893$1,205$749$457$59
38 years$2,781$1,799$1,128$690$414$50
39 years$2,680$1,711$1,057$636$375$43
40 years$2,584$1,628$991$587$341$36
41 years$2,493$1,550$929$541$309$31
42 years$2,406$1,476$871$500$280$26
43 years$2,324$1,406$818$461$254$22
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$13
47 years$2,032$1,164$636$336$173$11
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 $5,798 every year, while hoping to spend $25,442 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: 27/43/30 Blend
55$1,890,000$1,890,000$1,890,000$1,890,000
56$2,088,761$1,988,591$1,959,296$2,125,612
57$2,274,744$2,058,961$1,997,862$2,226,588
58$2,478,845$2,131,928$2,036,868$2,332,373
59$2,702,885$2,207,590$2,076,300$2,445,440
60$2,948,870$2,286,052$2,116,147$2,566,430
61$3,219,009$2,367,423$2,156,392$2,696,045
62$3,515,737$2,451,816$2,197,020$2,835,054
63$3,841,736$2,539,349$2,238,014$2,984,303
64$4,199,959$2,630,143$2,279,354$3,144,721
65$4,593,662$2,724,327$2,321,019$3,317,327
66$5,026,429$2,822,033$2,362,987$3,503,241
67$5,502,212$2,923,399$2,405,234$3,703,694
68$6,025,361$3,028,570$2,447,733$3,920,036
69$6,600,673$3,137,694$2,490,457$4,153,754
70$7,233,429$3,250,929$2,533,375$4,406,480
71$7,929,450$3,368,436$2,576,454$4,680,010
72$8,695,149$3,490,384$2,619,660$4,976,316
73$9,537,591$3,616,950$2,662,956$5,297,570
74$10,464,562$3,748,317$2,706,302$5,646,158
75$11,484,639$3,884,676$2,749,655$6,024,706
76$12,607,274$4,026,227$2,792,970$6,436,101
77$13,842,880$4,173,177$2,836,199$6,883,522
78$15,202,933$4,325,741$2,879,290$7,370,462
79$16,700,076$4,484,146$2,922,190$7,900,771
80$18,348,240$4,648,626$2,964,840$8,478,680
81$20,162,776$4,819,425$3,007,178$9,108,848
82$22,160,601$4,996,798$3,049,140$9,796,404
83$24,360,352$5,181,010$3,090,655$10,546,992
84$26,782,568$5,372,340$3,131,652$11,366,824
85$29,449,879$5,571,074$3,172,052$12,262,741
86$32,387,225$5,777,515$3,211,774$13,242,272
87$35,622,083$5,991,974$3,250,730$14,313,710
88$39,184,735$6,214,781$3,288,829$15,486,182
89$43,108,548$6,446,274$3,325,974$16,769,741
90$47,430,288$6,686,811$3,362,063$18,175,454
91$52,190,474$6,936,760$3,396,988$19,715,512
92$57,433,750$7,196,510$3,430,636$21,403,338
93$63,209,316$7,466,462$3,462,886$23,253,715
94$69,571,386$7,747,038$3,493,611$25,282,923
95$76,579,700$8,038,676$3,522,680$27,508,897
96$84,300,091$8,341,833$3,549,952$29,951,385
97$92,805,104$8,656,986$3,575,279$32,632,143
98$102,174,680$8,984,634$3,598,506$35,575,133
99$112,496,912$9,325,295$3,619,470$38,806,751
100$123,868,874$9,679,512$3,638,000$42,356,070