Can I retire at age 56 with 1,470,000?

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 $1,470,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.5%
1 years$121,391$120,310$119,255$118,225$117,220$115,041
2 years$60,095$58,975$57,891$56,839$55,819$53,632
3 years$39,665$38,541$37,459$36,417$35,414$33,287
4 years$29,452$28,332$27,261$26,237$25,257$23,207
5 years$23,326$22,212$21,155$20,152$19,200$17,232
6 years$19,244$18,138$17,097$16,116$15,193$13,309
7 years$16,329$15,232$14,207$13,250$12,356$10,557
8 years$14,143$13,057$12,049$11,115$10,250$8,536
9 years$12,444$11,368$10,378$9,467$8,632$7,001
10 years$11,086$10,021$9,048$8,161$7,355$5,806
11 years$9,976$8,921$7,965$7,103$6,326$4,857
12 years$9,051$8,007$7,069$6,230$5,482$4,091
13 years$8,269$7,236$6,316$5,500$4,780$3,465
14 years$7,599$6,577$5,675$4,882$4,190$2,949
15 years$7,020$6,008$5,124$4,354$3,689$2,519
16 years$6,513$5,513$4,645$3,899$3,261$2,159
17 years$6,066$5,077$4,227$3,503$2,891$1,855
18 years$5,669$4,691$3,859$3,157$2,571$1,598
19 years$5,315$4,348$3,532$2,852$2,291$1,378
20 years$4,996$4,040$3,242$2,583$2,047$1,191
21 years$4,708$3,763$2,982$2,345$1,831$1,031
22 years$4,447$3,513$2,748$2,132$1,642$894
23 years$4,208$3,286$2,538$1,942$1,474$775
24 years$3,990$3,078$2,347$1,771$1,325$673
25 years$3,790$2,889$2,174$1,617$1,192$585
26 years$3,605$2,715$2,016$1,479$1,074$509
27 years$3,435$2,555$1,872$1,353$968$442
28 years$3,276$2,408$1,740$1,240$873$385
29 years$3,129$2,271$1,619$1,137$789$335
30 years$2,992$2,145$1,508$1,044$713$292
31 years$2,864$2,028$1,406$958$644$255
32 years$2,745$1,919$1,312$881$583$222
33 years$2,633$1,817$1,225$810$527$193
34 years$2,527$1,722$1,145$745$478$169
35 years$2,428$1,633$1,070$686$433$147
36 years$2,335$1,550$1,001$632$392$128
37 years$2,247$1,473$937$582$355$112
38 years$2,163$1,399$877$537$322$98
39 years$2,084$1,331$822$495$292$85
40 years$2,010$1,266$771$456$265$74
41 years$1,939$1,205$723$421$240$65
42 years$1,872$1,148$678$389$218$57
43 years$1,808$1,094$636$359$198$50
44 years$1,747$1,042$597$331$180$43
45 years$1,689$994$561$306$163$38
46 years$1,633$948$526$283$148$33
47 years$1,580$905$495$261$134$29
48 years$1,530$864$465$241$122$25
49 years$1,481$825$437$223$111$22
50 years$1,435$788$411$206$101$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $1,470,000, adding $2,983 every year, while hoping to spend $43,083 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: 62/18/20 Blend
55$1,470,000$1,470,000$1,470,000$1,470,000
56$1,623,017$1,545,107$1,522,322$1,715,079
57$1,742,725$1,574,977$1,527,480$1,807,427
58$1,873,199$1,604,867$1,531,366$1,903,133
59$2,015,492$1,634,732$1,533,894$2,006,632
60$2,170,762$1,664,524$1,534,969$2,118,688
61$2,340,285$1,694,192$1,534,496$2,240,141
62$2,525,465$1,723,678$1,532,373$2,371,921
63$2,727,847$1,752,923$1,528,492$2,515,049
64$2,949,133$1,781,861$1,522,742$2,670,653
65$3,191,196$1,810,424$1,515,005$2,839,975
66$3,456,099$1,838,535$1,505,158$3,024,386
67$3,746,112$1,866,115$1,493,073$3,225,395
68$4,063,739$1,893,078$1,478,614$3,444,668
69$4,411,732$1,919,330$1,461,639$3,684,039
70$4,793,125$1,944,774$1,442,001$3,945,532
71$5,211,260$1,969,304$1,419,544$4,231,378
72$5,669,815$1,992,807$1,394,105$4,544,037
73$6,172,844$2,015,162$1,365,515$4,886,219
74$6,724,810$2,036,240$1,333,596$5,260,913
75$7,330,629$2,055,905$1,298,160$5,671,415
76$7,995,719$2,074,011$1,259,015$6,121,357
77$8,726,046$2,090,400$1,215,954$6,614,744
78$9,528,180$2,104,907$1,168,767$7,155,991
79$10,409,363$2,117,356$1,117,229$7,749,966
80$11,377,569$2,127,558$1,061,107$8,402,035
81$12,441,586$2,135,313$1,000,159$9,118,112
82$13,611,093$2,140,409$934,130$9,904,719
83$14,896,754$2,142,619$862,753$10,769,045
84$16,310,319$2,141,703$785,751$11,719,014
85$17,864,731$2,137,406$702,833$12,763,363
86$19,574,252$2,129,457$613,697$13,911,722
87$21,454,595$2,117,570$518,025$15,174,707
88$23,523,072$2,101,439$415,486$16,564,021
89$25,798,757$2,080,740$305,736$18,092,564
90$28,302,665$2,055,132$188,414$19,774,555
91$31,057,955$2,024,251$63,144$21,625,671
92$34,090,139$1,987,712$0$23,663,190
93$37,427,330$1,945,107$0$25,921,212
94$41,100,505$1,896,005$0$28,421,036
95$45,143,794$1,839,947$0$31,172,407
96$49,594,807$1,776,450$0$34,200,927
97$54,494,983$1,705,002$0$37,534,813
98$59,889,985$1,625,060$0$41,205,160
99$65,830,126$1,536,051$0$45,246,237
100$72,370,850$1,437,369$0$49,695,809