Can I retire at age 56 with 1,930,000?

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 $1,930,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.8%
1 years$159,378$157,958$156,573$155,221$153,901$148,440
2 years$78,900$77,430$76,006$74,625$73,286$67,843
3 years$52,077$50,602$49,181$47,813$46,496$41,241
4 years$38,669$37,198$35,791$34,447$33,161$28,135
5 years$30,626$29,163$27,775$26,458$25,209$20,424
6 years$25,265$23,814$22,447$21,159$19,947$15,408
7 years$21,438$19,999$18,653$17,396$16,222$11,927
8 years$18,569$17,143$15,819$14,593$13,458$9,404
9 years$16,339$14,926$13,625$12,430$11,333$7,515
10 years$14,555$13,156$11,879$10,715$9,657$6,067
11 years$13,097$11,712$10,458$9,325$8,305$4,937
12 years$11,883$10,512$9,281$8,179$7,197$4,043
13 years$10,857$9,500$8,292$7,221$6,276$3,327
14 years$9,977$8,635$7,451$6,410$5,501$2,748
15 years$9,216$7,889$6,727$5,717$4,844$2,278
16 years$8,551$7,238$6,099$5,119$4,281$1,893
17 years$7,964$6,666$5,550$4,599$3,796$1,577
18 years$7,443$6,159$5,066$4,145$3,375$1,315
19 years$6,978$5,708$4,638$3,745$3,008$1,099
20 years$6,559$5,305$4,256$3,392$2,687$919
21 years$6,181$4,941$3,915$3,078$2,405$770
22 years$5,838$4,612$3,608$2,799$2,155$645
23 years$5,525$4,314$3,332$2,549$1,935$541
24 years$5,239$4,042$3,081$2,325$1,739$454
25 years$4,976$3,793$2,854$2,123$1,565$381
26 years$4,733$3,565$2,647$1,941$1,410$320
27 years$4,509$3,355$2,458$1,777$1,271$269
28 years$4,302$3,161$2,285$1,628$1,147$226
29 years$4,108$2,982$2,126$1,493$1,035$190
30 years$3,929$2,816$1,980$1,370$936$160
31 years$3,761$2,662$1,846$1,258$846$134
32 years$3,604$2,519$1,723$1,157$765$113
33 years$3,456$2,386$1,608$1,064$692$95
34 years$3,318$2,261$1,503$979$627$80
35 years$3,188$2,145$1,405$901$568$67
36 years$3,065$2,036$1,314$830$515$57
37 years$2,950$1,933$1,230$764$466$48
38 years$2,840$1,837$1,152$705$423$40
39 years$2,737$1,747$1,079$650$383$34
40 years$2,639$1,662$1,012$599$348$28
41 years$2,546$1,582$949$553$315$24
42 years$2,457$1,507$890$510$286$20
43 years$2,373$1,436$835$471$260$17
44 years$2,293$1,369$784$435$236$14
45 years$2,217$1,305$736$402$214$12
46 years$2,144$1,245$691$371$194$10
47 years$2,075$1,188$649$343$176$9
48 years$2,008$1,134$610$317$160$7
49 years$1,945$1,083$574$293$146$6
50 years$1,884$1,035$539$271$132$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $1,930,000, adding $4,179 every year, while hoping to spend $36,679 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: 56/29/15 Blend
55$1,930,000$1,930,000$1,930,000$1,930,000
56$2,131,171$2,028,881$1,998,966$2,241,954
57$2,309,524$2,089,270$2,026,905$2,378,031
58$2,504,840$2,151,388$2,054,551$2,521,841
59$2,718,810$2,215,283$2,081,855$2,677,653
60$2,953,297$2,281,000$2,108,765$2,846,623
61$3,210,353$2,348,588$2,135,228$3,030,024
62$3,492,236$2,418,097$2,161,186$3,229,255
63$3,801,436$2,489,576$2,186,578$3,445,860
64$4,140,694$2,563,076$2,211,339$3,681,534
65$4,513,029$2,638,651$2,235,403$3,938,147
66$4,921,766$2,716,353$2,258,697$4,217,756
67$5,370,569$2,796,238$2,281,147$4,522,627
68$5,863,474$2,878,360$2,302,672$4,855,256
69$6,404,927$2,962,778$2,323,190$5,218,391
70$6,999,823$3,049,548$2,342,611$5,615,057
71$7,653,560$3,138,730$2,360,843$6,048,588
72$8,372,080$3,230,385$2,377,787$6,522,654
73$9,161,931$3,324,573$2,393,342$7,041,301
74$10,030,328$3,421,357$2,407,399$7,608,982
75$10,985,218$3,520,800$2,419,845$8,230,605
76$12,035,360$3,622,968$2,430,558$8,911,573
77$13,190,399$3,727,927$2,439,415$9,657,843
78$14,460,967$3,835,742$2,446,282$10,475,973
79$15,858,774$3,946,482$2,451,021$11,373,191
80$17,396,726$4,060,217$2,453,487$12,357,459
81$19,089,040$4,177,016$2,453,527$13,437,549
82$20,951,383$4,296,950$2,450,981$14,623,126
83$23,001,015$4,420,091$2,445,680$15,924,838
84$25,256,956$4,546,513$2,437,448$17,354,417
85$27,740,163$4,676,290$2,426,100$18,924,791
86$30,473,727$4,809,496$2,411,442$20,650,202
87$33,483,094$4,946,208$2,393,271$22,546,345
88$36,796,298$5,086,501$2,371,375$24,630,512
89$40,444,234$5,230,453$2,345,530$26,921,757
90$44,460,944$5,378,143$2,315,503$29,441,076
91$48,883,936$5,529,648$2,281,048$32,211,602
92$53,754,545$5,685,048$2,241,911$35,258,829
93$59,118,317$5,844,423$2,197,823$38,610,846
94$65,025,438$6,007,853$2,148,503$42,298,607
95$71,531,213$6,175,418$2,093,658$46,356,219
96$78,696,582$6,347,199$2,032,981$50,821,268
97$86,588,698$6,523,277$1,966,151$55,735,169
98$95,281,560$6,703,732$1,892,831$61,143,562
99$104,856,709$6,888,645$1,812,671$67,096,738
100$115,404,001$7,078,096$1,725,303$73,650,117