Can I retire at age 56 with 1,950,000?

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 $1,950,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.2%
1 years$161,029$159,595$158,195$156,829$155,496$150,338
2 years$79,717$78,233$76,794$75,399$74,046$68,899
3 years$52,617$51,126$49,691$48,309$46,978$42,004
4 years$39,070$37,583$36,162$34,804$33,505$28,742
5 years$30,943$29,466$28,063$26,733$25,470$20,931
6 years$25,527$24,061$22,679$21,378$20,153$15,842
7 years$21,660$20,206$18,847$17,576$16,390$12,306
8 years$18,761$17,320$15,983$14,744$13,597$9,737
9 years$16,508$15,081$13,767$12,559$11,451$7,810
10 years$14,706$13,293$12,002$10,826$9,757$6,329
11 years$13,233$11,834$10,566$9,422$8,391$5,170
12 years$12,006$10,621$9,377$8,264$7,271$4,251
13 years$10,969$9,599$8,378$7,296$6,341$3,512
14 years$10,081$8,725$7,528$6,477$5,558$2,914
15 years$9,312$7,970$6,797$5,776$4,894$2,425
16 years$8,639$7,313$6,162$5,172$4,325$2,024
17 years$8,047$6,735$5,607$4,647$3,835$1,693
18 years$7,520$6,223$5,119$4,188$3,410$1,419
19 years$7,050$5,768$4,686$3,784$3,039$1,191
20 years$6,627$5,359$4,300$3,427$2,715$1,001
21 years$6,245$4,992$3,956$3,110$2,430$842
22 years$5,899$4,660$3,646$2,828$2,178$709
23 years$5,583$4,358$3,366$2,575$1,955$597
24 years$5,293$4,084$3,113$2,349$1,757$504
25 years$5,027$3,832$2,883$2,145$1,581$425
26 years$4,782$3,602$2,674$1,961$1,424$359
27 years$4,556$3,390$2,483$1,795$1,284$303
28 years$4,346$3,194$2,308$1,645$1,159$256
29 years$4,151$3,013$2,148$1,508$1,046$216
30 years$3,969$2,846$2,001$1,384$945$183
31 years$3,800$2,690$1,865$1,271$855$154
32 years$3,641$2,545$1,741$1,169$773$130
33 years$3,492$2,410$1,625$1,075$700$110
34 years$3,352$2,285$1,518$989$633$93
35 years$3,221$2,167$1,420$910$574$79
36 years$3,097$2,057$1,328$838$520$67
37 years$2,980$1,953$1,243$772$471$56
38 years$2,870$1,856$1,164$712$427$48
39 years$2,765$1,765$1,091$656$387$40
40 years$2,666$1,679$1,022$605$351$34
41 years$2,572$1,599$958$559$319$29
42 years$2,483$1,523$899$515$289$24
43 years$2,398$1,451$844$476$262$21
44 years$2,317$1,383$792$439$238$17
45 years$2,240$1,319$744$406$216$15
46 years$2,166$1,258$698$375$196$13
47 years$2,096$1,200$656$346$178$11
48 years$2,029$1,146$617$320$162$9
49 years$1,965$1,094$580$296$147$8
50 years$1,904$1,045$545$273$134$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $1,950,000, adding $3,321 every year, while hoping to spend $24,875 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: 65/21/14 Blend
55$1,950,000$1,950,000$1,950,000$1,950,000
56$2,152,326$2,048,976$2,018,751$2,284,894
57$2,345,396$2,122,909$2,059,912$2,447,863
58$2,557,326$2,199,631$2,101,618$2,622,671
59$2,790,013$2,279,252$2,143,862$2,813,067
60$3,045,546$2,361,888$2,186,634$3,020,570
61$3,326,230$2,447,658$2,229,924$3,246,856
62$3,634,599$2,536,687$2,273,720$3,493,766
63$3,973,448$2,629,104$2,318,010$3,763,330
64$4,345,855$2,725,046$2,362,779$4,057,780
65$4,755,213$2,824,654$2,408,012$4,379,574
66$5,205,256$2,928,073$2,453,692$4,731,419
67$5,700,101$3,035,458$2,499,800$5,116,293
68$6,244,284$3,146,968$2,546,316$5,537,479
69$6,842,801$3,262,770$2,593,217$5,998,588
70$7,501,157$3,383,036$2,640,480$6,503,599
71$8,225,418$3,507,947$2,688,079$7,056,892
72$9,022,266$3,637,692$2,735,985$7,663,292
73$9,899,065$3,772,467$2,784,169$8,328,112
74$10,863,929$3,912,477$2,832,597$9,057,205
75$11,925,796$4,057,934$2,881,235$9,857,015
76$13,094,516$4,209,062$2,930,046$10,734,642
77$14,380,943$4,366,092$2,978,989$11,697,906
78$15,797,035$4,529,267$3,028,021$12,755,419
79$17,355,970$4,698,838$3,077,097$13,916,669
80$19,072,266$4,875,069$3,126,167$15,192,108
81$20,961,923$5,058,233$3,175,180$16,593,249
82$23,042,571$5,248,618$3,224,079$18,132,775
83$25,333,634$5,446,521$3,272,807$19,824,657
84$27,856,518$5,652,254$3,321,300$21,684,288
85$30,634,811$5,866,142$3,369,491$23,728,625
86$33,694,502$6,088,524$3,417,309$25,976,351
87$37,064,232$6,319,753$3,464,680$28,448,047
88$40,775,562$6,560,198$3,511,525$31,166,390
89$44,863,266$6,810,245$3,557,758$34,156,362
90$49,365,667$7,070,294$3,603,290$37,445,489
91$54,324,992$7,340,766$3,648,028$41,064,098
92$59,787,776$7,622,099$3,691,872$45,045,603
93$65,805,295$7,914,747$3,734,715$49,426,819
94$72,434,055$8,219,190$3,776,448$54,248,310
95$79,736,322$8,535,923$3,816,952$59,554,771
96$87,780,711$8,865,468$3,856,104$65,395,448
97$96,642,833$9,208,365$3,893,773$71,824,600
98$106,406,009$9,565,182$3,929,822$78,902,016
99$117,162,055$9,936,509$3,964,104$86,693,574
100$129,012,151$10,322,965$3,996,468$95,271,862