Can I retire at age 56 with 1,990,000?

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 $1,990,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.9%
1 years$164,332$162,869$161,440$160,046$158,685$156,121
2 years$81,353$79,838$78,369$76,945$75,564$72,988
3 years$53,696$52,175$50,710$49,300$47,941$45,433
4 years$39,871$38,354$36,904$35,518$34,192$31,771
5 years$31,578$30,070$28,639$27,281$25,992$23,665
6 years$26,051$24,554$23,145$21,817$20,567$18,337
7 years$22,105$20,621$19,233$17,937$16,726$14,594
8 years$19,146$17,676$16,311$15,047$13,876$11,841
9 years$16,847$15,390$14,049$12,816$11,686$9,747
10 years$15,008$13,565$12,248$11,048$9,957$8,113
11 years$13,504$12,077$10,783$9,615$8,563$6,812
12 years$12,253$10,839$9,570$8,434$7,421$5,760
13 years$11,194$9,796$8,550$7,446$6,471$4,898
14 years$10,288$8,904$7,682$6,609$5,672$4,185
15 years$9,503$8,134$6,936$5,894$4,994$3,590
16 years$8,816$7,463$6,288$5,278$4,414$3,090
17 years$8,212$6,873$5,722$4,742$3,914$2,666
18 years$7,675$6,351$5,224$4,274$3,480$2,306
19 years$7,195$5,886$4,782$3,862$3,102$1,999
20 years$6,763$5,469$4,389$3,497$2,771$1,735
21 years$6,374$5,095$4,037$3,174$2,479$1,509
22 years$6,020$4,756$3,720$2,886$2,222$1,314
23 years$5,697$4,448$3,435$2,628$1,995$1,145
24 years$5,402$4,167$3,177$2,397$1,793$999
25 years$5,131$3,911$2,943$2,189$1,614$872
26 years$4,881$3,676$2,729$2,002$1,453$762
27 years$4,649$3,459$2,534$1,832$1,310$666
28 years$4,435$3,259$2,356$1,679$1,182$583
29 years$4,236$3,075$2,192$1,539$1,068$510
30 years$4,051$2,904$2,042$1,413$965$446
31 years$3,878$2,745$1,904$1,298$872$391
32 years$3,716$2,598$1,776$1,192$789$342
33 years$3,564$2,460$1,658$1,097$714$300
34 years$3,421$2,331$1,550$1,009$646$263
35 years$3,287$2,211$1,449$929$586$231
36 years$3,161$2,099$1,355$855$530$202
37 years$3,041$1,993$1,269$788$481$177
38 years$2,928$1,894$1,188$726$436$155
39 years$2,822$1,801$1,113$670$395$136
40 years$2,721$1,714$1,043$618$359$120
41 years$2,625$1,632$978$570$325$105
42 years$2,534$1,554$918$526$295$92
43 years$2,447$1,480$861$486$268$81
44 years$2,364$1,411$808$448$243$71
45 years$2,286$1,346$759$414$221$62
46 years$2,211$1,284$713$382$200$55
47 years$2,139$1,225$670$353$182$48
48 years$2,071$1,170$629$327$165$42
49 years$2,006$1,117$591$302$150$37
50 years$1,943$1,067$556$279$136$32

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $1,990,000, adding $3,612 every year, while hoping to spend $52,031 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: 37/38/25 Blend
55$1,990,000$1,990,000$1,990,000$1,990,000
56$2,196,706$2,091,236$2,060,391$2,261,405
57$2,365,409$2,138,346$2,074,053$2,356,327
58$2,549,576$2,186,020$2,086,430$2,453,734
59$2,750,730$2,234,232$2,097,422$2,557,927
60$2,970,546$2,282,951$2,106,927$2,669,551
61$3,210,869$2,332,143$2,114,836$2,789,316
62$3,473,731$2,381,771$2,121,036$2,918,008
63$3,761,368$2,431,795$2,125,408$3,056,491
64$4,076,244$2,482,169$2,127,826$3,205,720
65$4,421,071$2,532,845$2,128,157$3,366,746
66$4,798,835$2,583,769$2,126,265$3,540,730
67$5,212,825$2,634,883$2,122,005$3,728,954
68$5,666,665$2,686,124$2,115,223$3,932,830
69$6,164,343$2,737,422$2,105,762$4,153,916
70$6,710,255$2,788,704$2,093,453$4,393,932
71$7,309,239$2,839,890$2,078,123$4,654,773
72$7,966,628$2,890,891$2,059,586$4,938,532
73$8,688,294$2,941,614$2,037,652$5,247,516
74$9,480,705$2,991,959$2,012,119$5,584,270
75$10,350,988$3,041,816$1,982,776$5,951,603
76$11,306,992$3,091,068$1,949,402$6,352,612
77$12,357,365$3,139,590$1,911,767$6,790,712
78$13,511,634$3,187,247$1,869,628$7,269,673
79$14,780,293$3,233,894$1,822,733$7,793,650
80$16,174,905$3,279,377$1,770,817$8,367,230
81$17,708,208$3,323,530$1,713,603$8,995,467
82$19,394,238$3,366,176$1,650,801$9,683,939
83$21,248,457$3,407,125$1,582,109$10,438,798
84$23,287,899$3,446,174$1,507,210$11,266,827
85$25,531,336$3,483,108$1,425,772$12,175,508
86$27,999,448$3,517,696$1,337,451$13,173,092
87$30,715,021$3,549,692$1,241,885$14,268,680
88$33,703,160$3,578,834$1,138,695$15,472,305
89$36,991,529$3,604,843$1,027,488$16,795,034
90$40,610,606$3,627,422$907,850$18,249,070
91$44,593,977$3,646,254$779,352$19,847,870
92$48,978,646$3,661,004$641,544$21,606,272
93$53,805,387$3,671,313$493,955$23,540,638
94$59,119,131$3,676,801$336,096$25,669,010
95$64,969,382$3,677,064$167,455$28,011,279
96$71,410,692$3,671,673$0$30,589,380
97$78,503,170$3,660,173$0$33,430,835
98$86,313,052$3,642,079$0$36,606,857
99$94,913,322$3,616,880$0$40,102,281
100$104,384,404$3,584,030$0$43,949,684