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%13.5%
1 years$159,378$157,958$156,573$155,221$153,901$151,664
2 years$78,900$77,430$76,006$74,625$73,286$71,037
3 years$52,077$50,602$49,181$47,813$46,496$44,304
4 years$38,669$37,198$35,791$34,447$33,161$31,045
5 years$30,626$29,163$27,775$26,458$25,209$23,173
6 years$25,265$23,814$22,447$21,159$19,947$17,994
7 years$21,438$19,999$18,653$17,396$16,222$14,354
8 years$18,569$17,143$15,819$14,593$13,458$11,673
9 years$16,339$14,926$13,625$12,430$11,333$9,631
10 years$14,555$13,156$11,879$10,715$9,657$8,036
11 years$13,097$11,712$10,458$9,325$8,305$6,765
12 years$11,883$10,512$9,281$8,179$7,197$5,735
13 years$10,857$9,500$8,292$7,221$6,276$4,890
14 years$9,977$8,635$7,451$6,410$5,501$4,189
15 years$9,216$7,889$6,727$5,717$4,844$3,603
16 years$8,551$7,238$6,099$5,119$4,281$3,109
17 years$7,964$6,666$5,550$4,599$3,796$2,691
18 years$7,443$6,159$5,066$4,145$3,375$2,334
19 years$6,978$5,708$4,638$3,745$3,008$2,029
20 years$6,559$5,305$4,256$3,392$2,687$1,767
21 years$6,181$4,941$3,915$3,078$2,405$1,541
22 years$5,838$4,612$3,608$2,799$2,155$1,346
23 years$5,525$4,314$3,332$2,549$1,935$1,176
24 years$5,239$4,042$3,081$2,325$1,739$1,029
25 years$4,976$3,793$2,854$2,123$1,565$902
26 years$4,733$3,565$2,647$1,941$1,410$790
27 years$4,509$3,355$2,458$1,777$1,271$693
28 years$4,302$3,161$2,285$1,628$1,147$608
29 years$4,108$2,982$2,126$1,493$1,035$534
30 years$3,929$2,816$1,980$1,370$936$469
31 years$3,761$2,662$1,846$1,258$846$412
32 years$3,604$2,519$1,723$1,157$765$362
33 years$3,456$2,386$1,608$1,064$692$318
34 years$3,318$2,261$1,503$979$627$280
35 years$3,188$2,145$1,405$901$568$246
36 years$3,065$2,036$1,314$830$515$217
37 years$2,950$1,933$1,230$764$466$191
38 years$2,840$1,837$1,152$705$423$168
39 years$2,737$1,747$1,079$650$383$148
40 years$2,639$1,662$1,012$599$348$130
41 years$2,546$1,582$949$553$315$115
42 years$2,457$1,507$890$510$286$101
43 years$2,373$1,436$835$471$260$89
44 years$2,293$1,369$784$435$236$78
45 years$2,217$1,305$736$402$214$69
46 years$2,144$1,245$691$371$194$61
47 years$2,075$1,188$649$343$176$53
48 years$2,008$1,134$610$317$160$47
49 years$1,945$1,083$574$293$146$41
50 years$1,884$1,035$539$271$132$36

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 $6,347 every year, while hoping to spend $34,999 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: 43/48/9 Blend
55$1,930,000$1,930,000$1,930,000$1,930,000
56$2,133,407$2,031,117$2,001,202$2,219,325
57$2,313,776$2,093,403$2,031,004$2,342,011
58$2,511,369$2,157,568$2,060,630$2,470,790
59$2,727,907$2,223,667$2,090,040$2,609,501
60$2,965,284$2,291,757$2,119,187$2,759,068
61$3,225,586$2,361,896$2,148,022$2,920,504
62$3,511,111$2,434,144$2,176,496$3,094,923
63$3,824,389$2,508,562$2,204,554$3,283,550
64$4,168,209$2,585,214$2,232,138$3,487,734
65$4,545,641$2,664,164$2,259,190$3,708,956
66$4,960,068$2,745,480$2,285,644$3,948,846
67$5,415,215$2,829,229$2,311,434$4,209,200
68$5,915,189$2,915,482$2,336,488$4,491,991
69$6,464,509$3,004,312$2,360,732$4,799,390
70$7,068,158$3,095,793$2,384,086$5,133,790
71$7,731,624$3,190,001$2,406,466$5,497,821
72$8,460,953$3,287,014$2,427,786$5,894,379
73$9,262,805$3,386,912$2,447,952$6,326,653
74$10,144,520$3,489,780$2,466,867$6,798,153
75$11,114,182$3,595,700$2,484,428$7,312,743
76$12,180,700$3,704,760$2,500,527$7,874,679
77$13,353,888$3,817,050$2,515,051$8,488,646
78$14,644,560$3,932,661$2,527,881$9,159,803
79$16,064,630$4,051,687$2,538,891$9,893,832
80$17,627,227$4,174,224$2,547,948$10,696,990
81$19,346,815$4,300,372$2,554,915$11,576,169
82$21,239,332$4,430,232$2,559,647$12,538,958
83$23,322,339$4,563,908$2,561,989$13,593,717
84$25,615,184$4,701,507$2,561,783$14,749,655
85$28,139,191$4,843,138$2,558,860$16,016,913
86$30,917,850$4,988,914$2,553,044$17,406,665
87$33,977,049$5,138,949$2,544,150$18,931,219
88$37,345,312$5,293,362$2,531,983$20,604,132
89$41,054,070$5,452,272$2,516,340$22,440,340
90$45,137,957$5,615,805$2,497,009$24,456,297
91$49,635,136$5,784,087$2,473,767$26,670,131
92$54,587,660$5,957,248$2,446,378$29,101,814
93$60,041,868$6,135,420$2,414,599$31,773,347
94$66,048,823$6,318,740$2,378,172$34,708,971
95$72,664,792$6,507,347$2,336,830$37,935,397
96$79,951,778$6,701,384$2,290,291$41,482,049
97$87,978,105$6,900,997$2,238,261$45,381,350
98$96,819,061$7,106,336$2,180,432$49,669,024
99$106,557,611$7,317,552$2,116,482$54,384,432
100$117,285,178$7,534,802$2,046,075$59,570,941