Can I retire at age 56 with 1,920,000?

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 $1,920,000?

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$158,552$157,140$155,762$154,417$153,103$152,075
2 years$78,491$77,029$75,612$74,239$72,906$71,869
3 years$51,808$50,339$48,926$47,566$46,255$45,241
4 years$38,468$37,005$35,606$34,268$32,989$32,006
5 years$30,467$29,012$27,632$26,321$25,078$24,129
6 years$25,135$23,691$22,330$21,049$19,843$18,930
7 years$21,327$19,895$18,557$17,306$16,138$15,260
8 years$18,473$17,054$15,738$14,517$13,388$12,546
9 years$16,254$14,849$13,555$12,366$11,275$10,468
10 years$14,480$13,088$11,817$10,659$9,607$8,835
11 years$13,029$11,652$10,404$9,277$8,262$7,525
12 years$11,822$10,458$9,233$8,137$7,160$6,456
13 years$10,800$9,451$8,249$7,184$6,243$5,573
14 years$9,926$8,591$7,412$6,377$5,473$4,835
15 years$9,168$7,848$6,692$5,687$4,819$4,213
16 years$8,506$7,200$6,067$5,092$4,259$3,683
17 years$7,923$6,631$5,521$4,575$3,776$3,230
18 years$7,405$6,127$5,040$4,123$3,358$2,841
19 years$6,942$5,679$4,614$3,726$2,993$2,503
20 years$6,525$5,277$4,234$3,374$2,673$2,211
21 years$6,149$4,915$3,895$3,062$2,392$1,955
22 years$5,808$4,588$3,590$2,784$2,144$1,732
23 years$5,497$4,291$3,314$2,536$1,925$1,536
24 years$5,212$4,021$3,065$2,313$1,730$1,364
25 years$4,950$3,773$2,839$2,112$1,557$1,213
26 years$4,709$3,546$2,633$1,931$1,402$1,079
27 years$4,486$3,337$2,445$1,768$1,264$961
28 years$4,279$3,145$2,273$1,620$1,141$856
29 years$4,087$2,967$2,115$1,485$1,030$763
30 years$3,908$2,802$1,970$1,363$931$681
31 years$3,741$2,649$1,837$1,252$841$608
32 years$3,585$2,506$1,714$1,151$761$543
33 years$3,438$2,373$1,600$1,058$689$485
34 years$3,301$2,249$1,495$973$624$433
35 years$3,171$2,134$1,398$896$565$387
36 years$3,049$2,025$1,308$825$512$346
37 years$2,934$1,923$1,224$760$464$309
38 years$2,825$1,828$1,146$701$421$277
39 years$2,723$1,738$1,074$646$381$248
40 years$2,625$1,654$1,006$596$346$221
41 years$2,532$1,574$944$550$314$198
42 years$2,444$1,499$885$508$285$177
43 years$2,361$1,428$831$469$258$159
44 years$2,281$1,362$780$433$235$142
45 years$2,205$1,298$732$400$213$127
46 years$2,133$1,239$688$369$193$114
47 years$2,064$1,182$646$341$176$102
48 years$1,998$1,128$607$315$159$91
49 years$1,935$1,078$571$291$145$82
50 years$1,875$1,029$536$269$132$73

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $1,920,000, adding $3,180 every year, while hoping to spend $26,635 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: 68/27/5 Blend
55$1,920,000$1,920,000$1,920,000$1,920,000
56$2,119,120$2,017,360$1,987,600$2,261,794
57$2,306,931$2,087,871$2,025,845$2,427,143
58$2,513,006$2,160,945$2,064,479$2,604,336
59$2,739,179$2,236,678$2,103,486$2,797,364
60$2,987,473$2,315,173$2,142,850$3,007,772
61$3,260,113$2,396,534$2,182,553$3,237,255
62$3,559,551$2,480,871$2,222,576$3,487,683
63$3,888,490$2,568,298$2,262,896$3,761,109
64$4,249,905$2,658,934$2,303,493$4,059,799
65$4,647,075$2,752,902$2,344,340$4,386,241
66$5,083,613$2,850,330$2,385,411$4,743,178
67$5,563,498$2,951,352$2,426,678$5,133,629
68$6,091,113$3,056,107$2,468,110$5,560,916
69$6,671,289$3,164,739$2,509,675$6,028,699
70$7,309,349$3,277,399$2,551,337$6,541,005
71$8,011,154$3,394,243$2,593,059$7,102,273
72$8,783,165$3,515,435$2,634,800$7,717,385
73$9,632,501$3,641,143$2,676,518$8,391,723
74$10,567,002$3,771,545$2,718,167$9,131,210
75$11,595,309$3,906,825$2,759,699$9,942,372
76$12,726,944$4,047,172$2,801,063$10,832,393
77$13,972,397$4,192,788$2,842,202$11,809,190
78$15,343,226$4,343,879$2,883,061$12,881,479
79$16,852,167$4,500,661$2,923,575$14,058,862
80$18,513,254$4,663,359$2,963,681$15,351,917
81$20,341,950$4,832,208$3,003,308$16,772,293
82$22,355,294$5,007,452$3,042,384$18,332,824
83$24,572,060$5,189,343$3,080,831$20,047,647
84$27,012,938$5,378,148$3,118,566$21,932,337
85$29,700,722$5,574,143$3,155,503$24,004,049
86$32,660,533$5,777,613$3,191,550$26,281,684
87$35,920,051$5,988,859$3,226,610$28,786,064
88$39,509,776$6,208,193$3,260,581$31,540,128
89$43,463,318$6,435,939$3,293,355$34,569,150
90$47,817,713$6,672,437$3,324,819$37,900,971
91$52,613,772$6,918,039$3,354,853$41,566,269
92$57,896,466$7,173,113$3,383,330$45,598,841
93$63,715,353$7,438,042$3,410,119$50,035,925
94$70,125,039$7,713,226$3,435,078$54,918,547
95$77,185,701$7,999,082$3,458,061$60,291,912
96$84,963,649$8,296,044$3,478,913$66,205,826
97$93,531,956$8,604,565$3,497,471$72,715,166
98$102,971,144$8,925,117$3,513,565$79,880,398
99$113,369,946$9,258,192$3,527,014$87,768,144
100$124,826,140$9,604,304$3,537,629$96,451,813