Can I retire at age 56 with 1,490,000?

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 $1,490,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.6%
1 years$123,043$121,947$120,878$119,834$118,815$116,559
2 years$60,912$59,778$58,678$57,612$56,578$54,314
3 years$40,205$39,065$37,969$36,913$35,896$33,694
4 years$29,853$28,717$27,632$26,594$25,601$23,479
5 years$23,644$22,515$21,443$20,426$19,462$17,425
6 years$19,505$18,385$17,329$16,335$15,399$13,450
7 years$16,551$15,440$14,401$13,430$12,524$10,663
8 years$14,336$13,235$12,213$11,266$10,390$8,617
9 years$12,614$11,523$10,519$9,596$8,750$7,063
10 years$11,237$10,157$9,171$8,272$7,455$5,854
11 years$10,111$9,042$8,074$7,199$6,412$4,894
12 years$9,174$8,116$7,165$6,315$5,556$4,119
13 years$8,381$7,334$6,402$5,575$4,845$3,487
14 years$7,703$6,667$5,752$4,949$4,247$2,965
15 years$7,115$6,090$5,193$4,413$3,740$2,531
16 years$6,601$5,588$4,708$3,952$3,305$2,168
17 years$6,148$5,146$4,284$3,551$2,930$1,861
18 years$5,746$4,755$3,911$3,200$2,606$1,602
19 years$5,387$4,407$3,580$2,891$2,322$1,381
20 years$5,064$4,095$3,286$2,619$2,074$1,193
21 years$4,772$3,815$3,022$2,377$1,856$1,032
22 years$4,507$3,561$2,786$2,161$1,664$893
23 years$4,266$3,330$2,572$1,968$1,494$774
24 years$4,045$3,120$2,379$1,795$1,343$672
25 years$3,841$2,928$2,203$1,639$1,208$583
26 years$3,654$2,752$2,043$1,499$1,088$507
27 years$3,481$2,590$1,897$1,372$981$441
28 years$3,321$2,441$1,764$1,257$885$383
29 years$3,172$2,302$1,641$1,153$799$333
30 years$3,033$2,174$1,529$1,058$722$290
31 years$2,903$2,055$1,425$972$653$253
32 years$2,782$1,945$1,330$893$591$220
33 years$2,668$1,842$1,242$821$535$192
34 years$2,562$1,746$1,160$755$484$167
35 years$2,461$1,656$1,085$695$438$146
36 years$2,366$1,572$1,015$640$397$127
37 years$2,277$1,493$950$590$360$111
38 years$2,193$1,418$889$544$326$96
39 years$2,113$1,349$833$502$296$84
40 years$2,037$1,283$781$463$268$73
41 years$1,965$1,222$732$427$244$64
42 years$1,897$1,163$687$394$221$56
43 years$1,832$1,108$645$364$201$49
44 years$1,770$1,057$605$336$182$42
45 years$1,711$1,008$568$310$165$37
46 years$1,655$961$534$286$150$32
47 years$1,602$917$501$265$136$28
48 years$1,551$876$471$244$124$25
49 years$1,502$836$443$226$112$21
50 years$1,455$799$416$209$102$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $1,490,000, adding $2,508 every year, while hoping to spend $29,548 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: 58/25/17 Blend
55$1,490,000$1,490,000$1,490,000$1,490,000
56$1,644,567$1,565,597$1,542,502$1,732,530
57$1,780,874$1,610,872$1,562,737$1,837,704
58$1,930,094$1,657,376$1,582,659$1,948,852
59$2,093,513$1,705,137$1,602,228$2,069,344
60$2,272,547$1,754,184$1,621,398$2,200,088
61$2,468,755$1,804,548$1,640,124$2,342,078
62$2,683,856$1,856,258$1,658,355$2,496,413
63$2,919,740$1,909,346$1,676,042$2,664,299
64$3,178,492$1,963,842$1,693,127$2,847,069
65$3,462,406$2,019,778$1,709,555$3,046,185
66$3,774,010$2,077,186$1,725,264$3,263,263
67$4,116,089$2,136,098$1,740,189$3,500,079
68$4,491,709$2,196,546$1,754,265$3,758,590
69$4,904,249$2,258,562$1,767,419$4,040,952
70$5,357,432$2,322,181$1,779,577$4,349,539
71$5,855,357$2,387,435$1,790,659$4,686,967
72$6,402,542$2,454,358$1,800,585$5,056,118
73$7,003,963$2,522,983$1,809,266$5,460,166
74$7,665,102$2,593,344$1,816,611$5,902,608
75$8,391,999$2,665,475$1,822,525$6,387,296
76$9,191,309$2,739,409$1,826,905$6,918,475
77$10,070,364$2,815,181$1,829,648$7,500,823
78$11,037,241$2,892,825$1,830,641$8,139,490
79$12,100,839$2,972,373$1,829,767$8,840,154
80$13,270,966$3,053,860$1,826,905$9,609,071
81$14,558,424$3,137,319$1,821,926$10,453,131
82$15,975,119$3,222,783$1,814,696$11,379,928
83$17,534,165$3,310,284$1,805,073$12,397,831
84$19,250,017$3,399,855$1,792,910$13,516,058
85$21,138,597$3,491,527$1,778,051$14,744,770
86$23,217,453$3,585,330$1,760,334$16,095,161
87$25,505,918$3,681,296$1,739,590$17,579,566
88$28,025,295$3,779,452$1,715,639$19,211,578
89$30,799,058$3,879,829$1,688,296$21,006,176
90$33,853,073$3,982,452$1,657,366$22,979,865
91$37,215,842$4,087,348$1,622,643$25,150,833
92$40,918,771$4,194,540$1,583,915$27,539,123
93$44,996,466$4,304,054$1,540,956$30,166,821
94$49,487,062$4,415,908$1,493,534$33,058,266
95$54,432,578$4,530,124$1,441,404$36,240,276
96$59,879,319$4,646,718$1,384,309$39,742,409
97$65,878,308$4,765,705$1,321,982$43,597,233
98$72,485,770$4,887,099$1,254,142$47,840,638
99$79,763,661$5,010,910$1,180,498$52,512,178
100$87,780,253$5,137,143$1,100,744$57,655,436