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

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 $1,930,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.4%
1 years$159,378$157,958$156,573$155,221$153,901$152,357
2 years$78,900$77,430$76,006$74,625$73,286$71,731
3 years$52,077$50,602$49,181$47,813$46,496$44,978
4 years$38,669$37,198$35,791$34,447$33,161$31,692
5 years$30,626$29,163$27,775$26,458$25,209$23,793
6 years$25,265$23,814$22,447$21,159$19,947$18,586
7 years$21,438$19,999$18,653$17,396$16,222$14,916
8 years$18,569$17,143$15,819$14,593$13,458$12,208
9 years$16,339$14,926$13,625$12,430$11,333$10,138
10 years$14,555$13,156$11,879$10,715$9,657$8,516
11 years$13,097$11,712$10,458$9,325$8,305$7,217
12 years$11,883$10,512$9,281$8,179$7,197$6,161
13 years$10,857$9,500$8,292$7,221$6,276$5,291
14 years$9,977$8,635$7,451$6,410$5,501$4,566
15 years$9,216$7,889$6,727$5,717$4,844$3,957
16 years$8,551$7,238$6,099$5,119$4,281$3,441
17 years$7,964$6,666$5,550$4,599$3,796$3,001
18 years$7,443$6,159$5,066$4,145$3,375$2,624
19 years$6,978$5,708$4,638$3,745$3,008$2,299
20 years$6,559$5,305$4,256$3,392$2,687$2,019
21 years$6,181$4,941$3,915$3,078$2,405$1,775
22 years$5,838$4,612$3,608$2,799$2,155$1,563
23 years$5,525$4,314$3,332$2,549$1,935$1,378
24 years$5,239$4,042$3,081$2,325$1,739$1,216
25 years$4,976$3,793$2,854$2,123$1,565$1,074
26 years$4,733$3,565$2,647$1,941$1,410$950
27 years$4,509$3,355$2,458$1,777$1,271$840
28 years$4,302$3,161$2,285$1,628$1,147$744
29 years$4,108$2,982$2,126$1,493$1,035$659
30 years$3,929$2,816$1,980$1,370$936$584
31 years$3,761$2,662$1,846$1,258$846$518
32 years$3,604$2,519$1,723$1,157$765$459
33 years$3,456$2,386$1,608$1,064$692$408
34 years$3,318$2,261$1,503$979$627$362
35 years$3,188$2,145$1,405$901$568$321
36 years$3,065$2,036$1,314$830$515$285
37 years$2,950$1,933$1,230$764$466$253
38 years$2,840$1,837$1,152$705$423$225
39 years$2,737$1,747$1,079$650$383$200
40 years$2,639$1,662$1,012$599$348$178
41 years$2,546$1,582$949$553$315$158
42 years$2,457$1,507$890$510$286$140
43 years$2,373$1,436$835$471$260$125
44 years$2,293$1,369$784$435$236$111
45 years$2,217$1,305$736$402$214$99
46 years$2,144$1,245$691$371$194$88
47 years$2,075$1,188$649$343$176$78
48 years$2,008$1,134$610$317$160$69
49 years$1,945$1,083$574$293$146$62
50 years$1,884$1,035$539$271$132$55

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 $4,058 every year, while hoping to spend $50,605 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: 24/47/29 Blend
55$1,930,000$1,930,000$1,930,000$1,930,000
56$2,131,046$2,028,756$1,998,841$2,162,700
57$2,294,569$2,074,322$2,011,959$2,235,666
58$2,473,076$2,120,424$2,023,820$2,309,259
59$2,668,041$2,167,036$2,034,329$2,387,054
60$2,881,087$2,214,127$2,043,386$2,469,436
61$3,114,003$2,261,664$2,050,884$2,556,829
62$3,368,757$2,309,611$2,056,714$2,649,702
63$3,647,514$2,357,926$2,060,758$2,748,574
64$3,952,662$2,406,566$2,062,895$2,854,018
65$4,286,828$2,455,482$2,062,996$2,966,666
66$4,652,905$2,504,621$2,060,927$3,087,218
67$5,054,080$2,553,926$2,056,546$3,216,444
68$5,493,861$2,603,334$2,049,706$3,355,200
69$5,976,115$2,652,777$2,040,251$3,504,426
70$6,505,098$2,702,182$2,028,019$3,665,164
71$7,085,499$2,751,470$2,012,838$3,838,564
72$7,722,482$2,800,555$1,994,531$4,025,897
73$8,421,737$2,849,344$1,972,909$4,228,564
74$9,189,530$2,897,738$1,947,778$4,448,117
75$10,032,765$2,945,629$1,918,931$4,686,266
76$10,959,045$2,992,904$1,886,154$4,944,902
77$11,976,749$3,039,437$1,849,221$5,226,113
78$13,095,105$3,085,097$1,807,897$5,532,202
79$14,324,279$3,129,740$1,761,936$5,865,716
80$15,675,475$3,173,216$1,711,079$6,229,464
81$17,161,030$3,215,361$1,655,058$6,626,550
82$18,794,542$3,256,001$1,593,589$7,060,400
83$20,590,990$3,294,949$1,526,378$7,534,793
84$22,566,876$3,332,007$1,453,118$8,053,907
85$24,740,385$3,366,963$1,373,484$8,622,347
86$27,131,549$3,399,589$1,287,141$9,245,201
87$29,762,443$3,429,645$1,193,736$9,928,082
88$32,657,388$3,456,873$1,092,902$10,677,186
89$35,843,181$3,480,999$984,254$11,499,350
90$39,349,350$3,501,732$867,390$12,402,119
91$43,208,428$3,518,761$741,892$13,393,820
92$47,456,263$3,531,756$607,321$14,483,640
93$52,132,355$3,540,366$463,220$15,681,716
94$57,280,229$3,544,217$309,111$16,999,232
95$62,947,843$3,542,914$144,497$18,448,529
96$69,188,041$3,536,036$0$20,043,219
97$76,059,055$3,523,135$0$21,807,967
98$83,625,048$3,503,738$0$23,798,035
99$91,956,724$3,477,342$0$25,987,116
100$101,131,990$3,443,413$0$28,395,549