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%14.6%
1 years$158,552$157,140$155,762$154,417$153,103$150,197
2 years$78,491$77,029$75,612$74,239$72,906$69,989
3 years$51,808$50,339$48,926$47,566$46,255$43,418
4 years$38,468$37,005$35,606$34,268$32,989$30,255
5 years$30,467$29,012$27,632$26,321$25,078$22,454
6 years$25,135$23,691$22,330$21,049$19,843$17,332
7 years$21,327$19,895$18,557$17,306$16,138$13,740
8 years$18,473$17,054$15,738$14,517$13,388$11,104
9 years$16,254$14,849$13,555$12,366$11,275$9,102
10 years$14,480$13,088$11,817$10,659$9,607$7,543
11 years$13,029$11,652$10,404$9,277$8,262$6,306
12 years$11,822$10,458$9,233$8,137$7,160$5,308
13 years$10,800$9,451$8,249$7,184$6,243$4,493
14 years$9,926$8,591$7,412$6,377$5,473$3,821
15 years$9,168$7,848$6,692$5,687$4,819$3,262
16 years$8,506$7,200$6,067$5,092$4,259$2,793
17 years$7,923$6,631$5,521$4,575$3,776$2,399
18 years$7,405$6,127$5,040$4,123$3,358$2,064
19 years$6,942$5,679$4,614$3,726$2,993$1,780
20 years$6,525$5,277$4,234$3,374$2,673$1,537
21 years$6,149$4,915$3,895$3,062$2,392$1,330
22 years$5,808$4,588$3,590$2,784$2,144$1,151
23 years$5,497$4,291$3,314$2,536$1,925$998
24 years$5,212$4,021$3,065$2,313$1,730$866
25 years$4,950$3,773$2,839$2,112$1,557$752
26 years$4,709$3,546$2,633$1,931$1,402$653
27 years$4,486$3,337$2,445$1,768$1,264$568
28 years$4,279$3,145$2,273$1,620$1,141$494
29 years$4,087$2,967$2,115$1,485$1,030$430
30 years$3,908$2,802$1,970$1,363$931$374
31 years$3,741$2,649$1,837$1,252$841$326
32 years$3,585$2,506$1,714$1,151$761$284
33 years$3,438$2,373$1,600$1,058$689$247
34 years$3,301$2,249$1,495$973$624$215
35 years$3,171$2,134$1,398$896$565$188
36 years$3,049$2,025$1,308$825$512$164
37 years$2,934$1,923$1,224$760$464$143
38 years$2,825$1,828$1,146$701$421$124
39 years$2,723$1,738$1,074$646$381$108
40 years$2,625$1,654$1,006$596$346$95
41 years$2,532$1,574$944$550$314$82
42 years$2,444$1,499$885$508$285$72
43 years$2,361$1,428$831$469$258$63
44 years$2,281$1,362$780$433$235$55
45 years$2,205$1,298$732$400$213$48
46 years$2,133$1,239$688$369$193$42
47 years$2,064$1,182$646$341$176$36
48 years$1,998$1,128$607$315$159$32
49 years$1,935$1,078$571$291$145$28
50 years$1,875$1,029$536$269$132$24

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 $6,108 every year, while hoping to spend $56,893 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: 56/21/23 Blend
55$1,920,000$1,920,000$1,920,000$1,920,000
56$2,122,140$2,020,380$1,990,620$2,227,392
57$2,278,065$2,058,845$1,996,772$2,338,572
58$2,447,987$2,097,288$2,001,224$2,453,105
59$2,633,274$2,135,648$2,003,857$2,576,673
60$2,835,432$2,173,858$2,004,550$2,710,163
61$3,056,117$2,211,849$2,003,174$2,854,551
62$3,297,154$2,249,542$1,999,593$3,010,914
63$3,560,549$2,286,855$1,993,665$3,180,438
64$3,848,514$2,323,700$1,985,241$3,364,434
65$4,163,482$2,359,981$1,974,167$3,564,345
66$4,508,133$2,395,596$1,960,277$3,781,764
67$4,885,418$2,430,435$1,943,402$4,018,446
68$5,298,586$2,464,381$1,923,361$4,276,330
69$5,751,214$2,497,309$1,899,966$4,557,550
70$6,247,245$2,529,084$1,873,022$4,864,463
71$6,791,016$2,559,561$1,842,321$5,199,666
72$7,387,309$2,588,589$1,807,647$5,566,024
73$8,041,388$2,616,003$1,768,776$5,966,696
74$8,759,050$2,641,628$1,725,471$6,405,166
75$9,546,683$2,665,278$1,677,485$6,885,276
76$10,411,323$2,686,754$1,624,559$7,411,263
77$11,360,719$2,705,846$1,566,422$7,987,799
78$12,403,407$2,722,327$1,502,792$8,620,034
79$13,548,792$2,735,959$1,433,373$9,313,651
80$14,807,234$2,746,486$1,357,856$10,074,912
81$16,190,145$2,753,638$1,275,918$10,910,725
82$17,710,100$2,757,126$1,187,221$11,828,706
83$19,380,950$2,756,644$1,091,413$12,837,251
84$21,217,955$2,751,869$988,124$13,945,621
85$23,237,930$2,742,454$876,969$15,164,022
86$25,459,398$2,728,033$757,547$16,503,712
87$27,902,769$2,708,219$629,437$17,977,100
88$30,590,528$2,682,599$492,200$19,597,867
89$33,547,452$2,650,736$345,379$21,381,100
90$36,800,838$2,612,168$188,495$23,343,427
91$40,380,763$2,566,403$21,049$25,503,185
92$44,320,367$2,512,923$0$27,880,586
93$48,656,165$2,451,177$0$30,536,602
94$53,428,390$2,380,581$0$33,465,140
95$58,681,375$2,300,518$0$36,688,248
96$64,463,968$2,210,337$0$40,235,928
97$70,829,994$2,109,344$0$44,141,243
98$77,838,762$1,996,811$0$48,440,632
99$85,555,623$1,871,962$0$53,174,253
100$94,052,590$1,733,981$0$58,386,365