Can I retire at age 56 with 1,510,000?

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 $1,510,000?

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$124,694$123,584$122,500$121,442$120,410$118,123
2 years$61,730$60,580$59,466$58,386$57,338$55,043
3 years$40,744$39,590$38,478$37,408$36,377$34,146
4 years$30,254$29,103$28,002$26,951$25,945$23,794
5 years$23,961$22,817$21,731$20,701$19,723$17,659
6 years$19,767$18,632$17,562$16,554$15,606$13,631
7 years$16,773$15,647$14,594$13,610$12,692$10,806
8 years$14,528$13,412$12,377$11,417$10,529$8,732
9 years$12,783$11,678$10,660$9,725$8,867$7,158
10 years$11,388$10,293$9,294$8,383$7,555$5,933
11 years$10,247$9,164$8,182$7,296$6,498$4,959
12 years$9,297$8,225$7,261$6,399$5,631$4,175
13 years$8,494$7,433$6,488$5,650$4,910$3,534
14 years$7,806$6,756$5,829$5,015$4,304$3,005
15 years$7,211$6,172$5,263$4,473$3,790$2,565
16 years$6,690$5,663$4,772$4,005$3,349$2,197
17 years$6,231$5,215$4,342$3,598$2,970$1,886
18 years$5,823$4,819$3,964$3,243$2,641$1,623
19 years$5,459$4,466$3,629$2,930$2,354$1,400
20 years$5,132$4,150$3,330$2,654$2,102$1,209
21 years$4,836$3,866$3,063$2,408$1,881$1,046
22 years$4,568$3,608$2,823$2,190$1,686$905
23 years$4,323$3,375$2,607$1,994$1,514$785
24 years$4,099$3,162$2,411$1,819$1,361$681
25 years$3,893$2,967$2,233$1,661$1,224$591
26 years$3,703$2,789$2,071$1,519$1,103$514
27 years$3,528$2,625$1,923$1,390$994$446
28 years$3,365$2,473$1,788$1,274$897$388
29 years$3,214$2,333$1,664$1,168$810$338
30 years$3,074$2,204$1,549$1,072$732$294
31 years$2,942$2,083$1,445$985$662$256
32 years$2,819$1,971$1,348$905$599$223
33 years$2,704$1,867$1,258$832$542$194
34 years$2,596$1,769$1,176$766$491$169
35 years$2,494$1,678$1,099$705$444$148
36 years$2,398$1,593$1,028$649$403$129
37 years$2,308$1,513$963$598$365$112
38 years$2,222$1,438$901$551$331$98
39 years$2,141$1,367$844$508$300$85
40 years$2,064$1,301$792$469$272$74
41 years$1,992$1,238$742$433$247$65
42 years$1,922$1,179$696$399$224$57
43 years$1,857$1,123$653$368$203$49
44 years$1,794$1,071$613$340$184$43
45 years$1,734$1,021$576$314$167$38
46 years$1,678$974$541$290$152$33
47 years$1,623$930$508$268$138$29
48 years$1,571$887$477$248$125$25
49 years$1,522$847$449$229$114$22
50 years$1,474$809$422$212$103$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $1,510,000, adding $2,390 every year, while hoping to spend $57,396 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: 46/38/16 Blend
55$1,510,000$1,510,000$1,510,000$1,510,000
56$1,666,485$1,586,455$1,563,050$1,735,459
57$1,775,398$1,603,123$1,554,344$1,800,378
58$1,893,496$1,618,683$1,543,422$1,864,777
59$2,021,656$1,633,022$1,530,149$1,933,405
60$2,160,841$1,646,016$1,514,386$2,006,679
61$2,312,112$1,657,536$1,495,983$2,085,060
62$2,476,635$1,667,443$1,474,786$2,169,058
63$2,655,692$1,675,589$1,450,632$2,259,239
64$2,850,697$1,681,816$1,423,352$2,356,226
65$3,063,202$1,685,959$1,392,768$2,460,713
66$3,294,917$1,687,840$1,358,694$2,573,464
67$3,547,724$1,687,269$1,320,936$2,695,326
68$3,823,694$1,684,048$1,279,290$2,827,236
69$4,125,107$1,677,963$1,233,542$2,970,229
70$4,454,474$1,668,788$1,183,472$3,125,453
71$4,814,557$1,656,285$1,128,844$3,294,173
72$5,208,399$1,640,200$1,069,418$3,477,792
73$5,639,349$1,620,264$1,004,937$3,677,857
74$6,111,097$1,596,191$935,137$3,896,081
75$6,627,704$1,567,679$859,739$4,134,357
76$7,193,642$1,534,409$778,453$4,394,777
77$7,813,839$1,496,040$690,977$4,679,654
78$8,493,719$1,452,215$596,993$4,991,541
79$9,239,258$1,402,552$496,171$5,333,263
80$10,057,035$1,346,650$388,165$5,707,937
81$10,954,299$1,284,083$272,616$6,119,009
82$11,939,036$1,214,401$149,146$6,570,285
83$13,020,038$1,137,127$17,364$7,065,968
84$14,206,994$1,051,759$0$7,610,702
85$15,510,576$957,763$0$8,230,657
86$16,942,538$854,577$0$8,914,983
87$18,515,832$741,606$0$9,667,038
88$20,244,724$618,222$0$10,493,804
89$22,144,932$483,761$0$11,402,983
90$24,233,772$337,522$0$12,403,074
91$26,530,320$178,764$0$13,503,450
92$29,055,594$6,705$0$14,714,454
93$31,832,750$0$0$16,047,495
94$34,887,301$0$0$17,590,207
95$38,247,356$0$0$19,290,498
96$41,943,885$0$0$21,161,260
97$46,011,012$0$0$23,219,789
98$50,486,335$0$0$25,485,140
99$55,411,280$0$0$27,978,310
100$60,831,492$0$0$30,722,435