Can I retire at age 56 with 1,480,000?

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 $1,480,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.5%
1 years$122,217$121,128$120,066$119,030$118,017$116,785
2 years$60,503$59,377$58,285$57,226$56,199$54,958
3 years$39,935$38,803$37,714$36,665$35,655$34,443
4 years$29,653$28,525$27,446$26,415$25,429$24,257
5 years$23,485$22,364$21,299$20,289$19,331$18,201
6 years$19,375$18,262$17,213$16,226$15,296$14,210
7 years$16,440$15,336$14,304$13,340$12,440$11,399
8 years$14,239$13,146$12,131$11,191$10,320$9,323
9 years$12,529$11,446$10,448$9,532$8,691$7,738
10 years$11,162$10,089$9,109$8,217$7,405$6,496
11 years$10,044$8,982$8,020$7,151$6,369$5,502
12 years$9,112$8,061$7,117$6,272$5,519$4,694
13 years$8,325$7,285$6,359$5,537$4,813$4,029
14 years$7,651$6,622$5,713$4,916$4,219$3,474
15 years$7,067$6,049$5,158$4,384$3,714$3,009
16 years$6,557$5,550$4,677$3,925$3,283$2,615
17 years$6,107$5,111$4,256$3,527$2,911$2,279
18 years$5,708$4,723$3,885$3,178$2,588$1,991
19 years$5,351$4,377$3,556$2,872$2,307$1,743
20 years$5,030$4,068$3,264$2,601$2,061$1,529
21 years$4,740$3,789$3,002$2,361$1,844$1,344
22 years$4,477$3,537$2,767$2,146$1,653$1,182
23 years$4,237$3,308$2,555$1,955$1,484$1,042
24 years$4,017$3,099$2,363$1,783$1,334$919
25 years$3,816$2,909$2,188$1,628$1,200$811
26 years$3,630$2,734$2,030$1,489$1,081$716
27 years$3,458$2,573$1,885$1,363$975$633
28 years$3,299$2,424$1,752$1,248$879$560
29 years$3,151$2,287$1,630$1,145$794$496
30 years$3,013$2,160$1,519$1,051$717$439
31 years$2,884$2,042$1,416$965$649$389
32 years$2,763$1,932$1,321$887$587$345
33 years$2,650$1,829$1,233$816$531$306
34 years$2,544$1,734$1,152$750$481$271
35 years$2,445$1,645$1,077$691$435$240
36 years$2,351$1,561$1,008$636$395$213
37 years$2,262$1,483$943$586$358$189
38 years$2,178$1,409$883$540$324$168
39 years$2,099$1,340$828$498$294$149
40 years$2,023$1,275$776$459$267$132
41 years$1,952$1,213$727$424$242$118
42 years$1,884$1,156$682$391$220$104
43 years$1,820$1,101$640$361$199$93
44 years$1,758$1,050$601$333$181$82
45 years$1,700$1,001$564$308$164$73
46 years$1,644$955$530$284$149$65
47 years$1,591$911$498$263$135$58
48 years$1,540$870$468$243$123$51
49 years$1,492$831$440$224$112$46
50 years$1,445$793$414$207$101$41

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $1,480,000, adding $3,870 every year, while hoping to spend $21,188 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: 41/49/10 Blend
55$1,480,000$1,480,000$1,480,000$1,480,000
56$1,634,952$1,556,512$1,533,572$1,696,985
57$1,779,173$1,610,237$1,562,403$1,794,578
58$1,937,395$1,665,885$1,591,489$1,897,724
59$2,111,023$1,723,527$1,620,818$2,008,883
60$2,301,605$1,783,237$1,650,373$2,128,791
61$2,510,847$1,845,094$1,680,139$2,258,256
62$2,740,628$1,909,179$1,710,098$2,398,167
63$2,993,017$1,975,574$1,740,232$2,549,501
64$3,270,295$2,044,367$1,770,520$2,713,331
65$3,574,973$2,115,649$1,800,940$2,890,835
66$3,909,818$2,189,513$1,831,469$3,083,310
67$4,277,878$2,266,058$1,862,082$3,292,180
68$4,682,512$2,345,385$1,892,752$3,519,014
69$5,127,420$2,427,601$1,923,451$3,765,533
70$5,616,678$2,512,815$1,954,148$4,033,635
71$6,154,778$2,601,141$1,984,810$4,325,402
72$6,746,667$2,692,699$2,015,404$4,643,129
73$7,397,799$2,787,613$2,045,891$4,989,339
74$8,114,180$2,886,011$2,076,234$5,366,808
75$8,902,428$2,988,028$2,106,389$5,778,592
76$9,769,836$3,093,802$2,136,314$6,228,052
77$10,724,441$3,203,479$2,165,962$6,718,889
78$11,775,094$3,317,210$2,195,282$7,255,176
79$12,931,552$3,435,151$2,224,222$7,841,395
80$14,204,563$3,557,467$2,252,727$8,482,481
81$15,605,973$3,684,327$2,280,737$9,183,869
82$17,148,831$3,815,908$2,308,191$9,951,538
83$18,847,520$3,952,395$2,335,023$10,792,075
84$20,717,883$4,093,979$2,361,163$11,712,730
85$22,777,384$4,240,860$2,386,538$12,721,487
86$25,045,261$4,393,246$2,411,071$13,827,140
87$27,542,715$4,551,354$2,434,680$15,039,370
88$30,293,110$4,715,408$2,457,279$16,368,839
89$33,322,188$4,885,643$2,478,779$17,827,290
90$36,658,315$5,062,304$2,499,082$19,427,655
91$40,332,752$5,245,645$2,518,090$21,184,179
92$44,379,943$5,435,932$2,535,696$23,112,551
93$48,837,844$5,633,440$2,551,789$25,230,050
94$53,748,283$5,838,457$2,566,252$27,555,710
95$59,157,349$6,051,283$2,578,963$30,110,497
96$65,115,832$6,272,229$2,589,792$32,917,506
97$71,679,700$6,501,622$2,598,603$36,002,179
98$78,910,627$6,739,799$2,605,255$39,392,539
99$86,876,577$6,987,115$2,609,596$43,119,461
100$95,652,440$7,243,936$2,611,470$47,216,955