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

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 $1,990,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.3%
1 years$164,332$162,869$161,440$160,046$158,685$153,360
2 years$81,353$79,838$78,369$76,945$75,564$70,252
3 years$53,696$52,175$50,710$49,300$47,941$42,808
4 years$39,871$38,354$36,904$35,518$34,192$29,278
5 years$31,578$30,070$28,639$27,281$25,992$21,310
6 years$26,051$24,554$23,145$21,817$20,567$16,120
7 years$22,105$20,621$19,233$17,937$16,726$12,514
8 years$19,146$17,676$16,311$15,047$13,876$9,896
9 years$16,847$15,390$14,049$12,816$11,686$7,932
10 years$15,008$13,565$12,248$11,048$9,957$6,424
11 years$13,504$12,077$10,783$9,615$8,563$5,245
12 years$12,253$10,839$9,570$8,434$7,421$4,309
13 years$11,194$9,796$8,550$7,446$6,471$3,558
14 years$10,288$8,904$7,682$6,609$5,672$2,950
15 years$9,503$8,134$6,936$5,894$4,994$2,454
16 years$8,816$7,463$6,288$5,278$4,414$2,046
17 years$8,212$6,873$5,722$4,742$3,914$1,710
18 years$7,675$6,351$5,224$4,274$3,480$1,432
19 years$7,195$5,886$4,782$3,862$3,102$1,201
20 years$6,763$5,469$4,389$3,497$2,771$1,009
21 years$6,374$5,095$4,037$3,174$2,479$848
22 years$6,020$4,756$3,720$2,886$2,222$714
23 years$5,697$4,448$3,435$2,628$1,995$601
24 years$5,402$4,167$3,177$2,397$1,793$506
25 years$5,131$3,911$2,943$2,189$1,614$427
26 years$4,881$3,676$2,729$2,002$1,453$360
27 years$4,649$3,459$2,534$1,832$1,310$304
28 years$4,435$3,259$2,356$1,679$1,182$256
29 years$4,236$3,075$2,192$1,539$1,068$216
30 years$4,051$2,904$2,042$1,413$965$183
31 years$3,878$2,745$1,904$1,298$872$154
32 years$3,716$2,598$1,776$1,192$789$130
33 years$3,564$2,460$1,658$1,097$714$110
34 years$3,421$2,331$1,550$1,009$646$93
35 years$3,287$2,211$1,449$929$586$79
36 years$3,161$2,099$1,355$855$530$66
37 years$3,041$1,993$1,269$788$481$56
38 years$2,928$1,894$1,188$726$436$47
39 years$2,822$1,801$1,113$670$395$40
40 years$2,721$1,714$1,043$618$359$34
41 years$2,625$1,632$978$570$325$29
42 years$2,534$1,554$918$526$295$24
43 years$2,447$1,480$861$486$268$20
44 years$2,364$1,411$808$448$243$17
45 years$2,286$1,346$759$414$221$15
46 years$2,211$1,284$713$382$200$12
47 years$2,139$1,225$670$353$182$10
48 years$2,071$1,170$629$327$165$9
49 years$2,006$1,117$591$302$150$7
50 years$1,943$1,067$556$279$136$6

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 $3,403 every year, while hoping to spend $47,700 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: 69/15/16 Blend
55$1,990,000$1,990,000$1,990,000$1,990,000
56$2,196,490$2,091,020$2,060,175$2,339,568
57$2,369,780$2,142,728$2,078,439$2,486,999
58$2,559,146$2,195,370$2,095,715$2,642,262
59$2,766,179$2,248,943$2,111,921$2,810,933
60$2,992,628$2,303,440$2,126,970$2,994,325
61$3,240,420$2,358,853$2,140,767$3,193,888
62$3,511,677$2,415,171$2,153,217$3,411,217
63$3,808,736$2,472,382$2,164,218$3,648,071
64$4,134,169$2,530,471$2,173,661$3,906,385
65$4,490,810$2,589,419$2,181,434$4,188,293
66$4,881,779$2,649,207$2,187,418$4,496,146
67$5,310,513$2,709,812$2,191,490$4,832,532
68$5,780,799$2,771,205$2,193,518$5,200,305
69$6,296,805$2,833,359$2,193,365$5,602,607
70$6,863,124$2,896,238$2,190,888$6,042,901
71$7,484,815$2,959,806$2,185,935$6,525,005
72$8,167,450$3,024,021$2,178,348$7,053,122
73$8,917,169$3,088,837$2,167,962$7,631,886
74$9,740,733$3,154,203$2,154,601$8,266,402
75$10,645,592$3,220,063$2,138,085$8,962,295
76$11,639,952$3,286,356$2,118,221$9,725,766
77$12,732,856$3,353,016$2,094,810$10,563,645
78$13,934,263$3,419,970$2,067,641$11,483,460
79$15,255,147$3,487,138$2,036,497$12,493,508
80$16,707,598$3,554,434$2,001,146$13,602,929
81$18,304,937$3,621,765$1,961,348$14,821,798
82$20,061,839$3,689,030$1,916,851$16,161,217
83$21,994,474$3,756,119$1,867,393$17,633,421
84$24,120,657$3,822,915$1,812,697$19,251,891
85$26,460,016$3,889,291$1,752,475$21,031,486
86$29,034,181$3,955,110$1,686,426$22,988,581
87$31,866,981$4,020,223$1,614,235$25,141,220
88$34,984,673$4,084,474$1,535,571$27,509,289
89$38,416,188$4,147,691$1,450,091$30,114,704
90$42,193,404$4,209,693$1,357,435$32,981,616
91$46,351,447$4,270,285$1,257,225$36,136,643
92$50,929,022$4,329,256$1,149,070$39,609,115
93$55,968,776$4,386,383$1,032,557$43,431,359
94$61,517,703$4,441,427$907,259$47,638,999
95$67,627,583$4,494,132$772,727$52,271,295
96$74,355,476$4,544,224$628,492$57,371,513
97$81,764,255$4,591,411$474,067$62,987,335
98$89,923,202$4,635,383$308,942$69,171,308
99$98,908,660$4,675,808$132,583$75,981,343
100$108,804,753$4,712,333$0$83,481,258