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

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 $1,920,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.5%
1 years$158,552$157,140$155,762$154,417$153,103$147,262
2 years$78,491$77,029$75,612$74,239$72,906$67,090
3 years$51,808$50,339$48,926$47,566$46,255$40,646
4 years$38,468$37,005$35,606$34,268$32,989$27,631
5 years$30,467$29,012$27,632$26,321$25,078$19,985
6 years$25,135$23,691$22,330$21,049$19,843$15,018
7 years$21,327$19,895$18,557$17,306$16,138$11,579
8 years$18,473$17,054$15,738$14,517$13,388$9,091
9 years$16,254$14,849$13,555$12,366$11,275$7,234
10 years$14,480$13,088$11,817$10,659$9,607$5,815
11 years$13,029$11,652$10,404$9,277$8,262$4,710
12 years$11,822$10,458$9,233$8,137$7,160$3,839
13 years$10,800$9,451$8,249$7,184$6,243$3,144
14 years$9,926$8,591$7,412$6,377$5,473$2,585
15 years$9,168$7,848$6,692$5,687$4,819$2,132
16 years$8,506$7,200$6,067$5,092$4,259$1,762
17 years$7,923$6,631$5,521$4,575$3,776$1,460
18 years$7,405$6,127$5,040$4,123$3,358$1,212
19 years$6,942$5,679$4,614$3,726$2,993$1,007
20 years$6,525$5,277$4,234$3,374$2,673$838
21 years$6,149$4,915$3,895$3,062$2,392$698
22 years$5,808$4,588$3,590$2,784$2,144$582
23 years$5,497$4,291$3,314$2,536$1,925$485
24 years$5,212$4,021$3,065$2,313$1,730$405
25 years$4,950$3,773$2,839$2,112$1,557$338
26 years$4,709$3,546$2,633$1,931$1,402$282
27 years$4,486$3,337$2,445$1,768$1,264$236
28 years$4,279$3,145$2,273$1,620$1,141$197
29 years$4,087$2,967$2,115$1,485$1,030$165
30 years$3,908$2,802$1,970$1,363$931$138
31 years$3,741$2,649$1,837$1,252$841$115
32 years$3,585$2,506$1,714$1,151$761$96
33 years$3,438$2,373$1,600$1,058$689$81
34 years$3,301$2,249$1,495$973$624$67
35 years$3,171$2,134$1,398$896$565$56
36 years$3,049$2,025$1,308$825$512$47
37 years$2,934$1,923$1,224$760$464$39
38 years$2,825$1,828$1,146$701$421$33
39 years$2,723$1,738$1,074$646$381$28
40 years$2,625$1,654$1,006$596$346$23
41 years$2,532$1,574$944$550$314$19
42 years$2,444$1,499$885$508$285$16
43 years$2,361$1,428$831$469$258$14
44 years$2,281$1,362$780$433$235$11
45 years$2,205$1,298$732$400$213$9
46 years$2,133$1,239$688$369$193$8
47 years$2,064$1,182$646$341$176$7
48 years$1,998$1,128$607$315$159$6
49 years$1,935$1,078$571$291$145$5
50 years$1,875$1,029$536$269$132$4

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 $4,408 every year, while hoping to spend $46,098 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: 29/44/27 Blend
55$1,920,000$1,920,000$1,920,000$1,920,000
56$2,120,387$2,018,627$1,988,867$2,164,060
57$2,287,618$2,068,492$2,006,446$2,248,651
58$2,470,363$2,119,255$2,023,069$2,335,214
59$2,670,153$2,170,912$2,038,655$2,427,351
60$2,888,678$2,223,456$2,053,120$2,525,575
61$3,127,797$2,276,879$2,066,373$2,630,451
62$3,389,557$2,331,171$2,078,321$2,742,602
63$3,676,213$2,386,319$2,088,866$2,862,717
64$3,990,246$2,442,308$2,097,902$2,991,551
65$4,334,391$2,499,121$2,105,322$3,129,942
66$4,711,659$2,556,738$2,111,010$3,278,809
67$5,125,365$2,615,136$2,114,847$3,439,169
68$5,579,163$2,674,288$2,116,705$3,612,141
69$6,077,075$2,734,166$2,116,452$3,798,961
70$6,623,533$2,794,736$2,113,949$4,000,991
71$7,223,417$2,855,961$2,109,050$4,219,734
72$7,882,104$2,917,802$2,101,601$4,456,845
73$8,605,517$2,980,213$2,091,443$4,714,153
74$9,400,181$3,043,144$2,078,407$4,993,674
75$10,273,282$3,106,541$2,062,317$5,297,629
76$11,232,740$3,170,344$2,042,988$5,628,470
77$12,287,277$3,234,489$2,020,225$5,988,902
78$13,446,504$3,298,904$1,993,828$6,381,906
79$14,721,009$3,363,512$1,963,583$6,810,771
80$16,122,457$3,428,229$1,929,268$7,279,125
81$17,663,700$3,492,964$1,890,650$7,790,968
82$19,358,896$3,557,619$1,847,486$8,350,712
83$21,223,649$3,622,087$1,799,522$8,963,223
84$23,275,145$3,686,253$1,746,490$9,633,867
85$25,532,325$3,749,995$1,688,113$10,368,562
86$28,016,055$3,813,177$1,624,098$11,173,834
87$30,749,328$3,875,658$1,554,140$12,056,879
88$33,757,477$3,937,283$1,477,921$13,025,634
89$37,068,417$3,997,887$1,395,109$14,088,851
90$40,712,904$4,057,292$1,305,353$15,256,181
91$44,724,829$4,115,309$1,208,292$16,538,264
92$49,141,536$4,171,733$1,103,544$17,946,836
93$54,004,172$4,226,347$990,712$19,494,835
94$59,358,079$4,278,919$869,382$21,196,529
95$65,253,216$4,329,200$739,120$23,067,649
96$71,744,637$4,376,924$599,473$25,125,539
97$78,893,004$4,421,807$449,970$27,389,324
98$86,765,163$4,463,548$290,116$29,880,089
99$95,434,771$4,501,823$119,396$32,621,082
100$104,982,996$4,536,291$0$35,637,935