Can I retire at age 56 with 1,520,000?

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 $1,520,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14%
1 years$125,520$124,402$123,311$122,247$121,207$119,199
2 years$62,139$60,981$59,860$58,772$57,718$55,700
3 years$41,014$39,852$38,733$37,656$36,618$34,655
4 years$30,454$29,295$28,188$27,129$26,117$24,222
5 years$24,120$22,968$21,875$20,838$19,853$18,033
6 years$19,898$18,755$17,678$16,664$15,709$13,965
7 years$16,884$15,751$14,691$13,700$12,776$11,108
8 years$14,624$13,501$12,459$11,493$10,599$9,008
9 years$12,868$11,755$10,731$9,789$8,926$7,410
10 years$11,463$10,362$9,355$8,439$7,605$6,164
11 years$10,315$9,224$8,236$7,344$6,541$5,173
12 years$9,359$8,279$7,310$6,442$5,668$4,371
13 years$8,550$7,482$6,531$5,687$4,943$3,715
14 years$7,858$6,801$5,868$5,048$4,333$3,172
15 years$7,258$6,213$5,298$4,502$3,815$2,719
16 years$6,734$5,700$4,803$4,031$3,372$2,338
17 years$6,272$5,250$4,371$3,622$2,989$2,016
18 years$5,862$4,851$3,990$3,264$2,658$1,743
19 years$5,495$4,496$3,653$2,950$2,369$1,509
20 years$5,166$4,178$3,352$2,671$2,116$1,310
21 years$4,868$3,891$3,083$2,424$1,894$1,138
22 years$4,598$3,632$2,842$2,204$1,698$990
23 years$4,352$3,397$2,624$2,008$1,524$862
24 years$4,126$3,183$2,427$1,831$1,370$751
25 years$3,919$2,987$2,248$1,672$1,232$655
26 years$3,728$2,807$2,084$1,529$1,110$572
27 years$3,551$2,642$1,936$1,399$1,001$500
28 years$3,388$2,490$1,799$1,282$903$437
29 years$3,236$2,349$1,675$1,176$815$382
30 years$3,094$2,218$1,560$1,079$737$334
31 years$2,962$2,097$1,454$991$666$292
32 years$2,838$1,984$1,357$911$603$256
33 years$2,722$1,879$1,267$838$545$224
34 years$2,613$1,781$1,184$771$494$196
35 years$2,511$1,689$1,107$709$447$172
36 years$2,414$1,603$1,035$653$405$151
37 years$2,323$1,523$969$602$367$132
38 years$2,237$1,447$907$555$333$116
39 years$2,155$1,376$850$512$302$101
40 years$2,078$1,309$797$472$274$89
41 years$2,005$1,246$747$435$248$78
42 years$1,935$1,187$701$402$225$68
43 years$1,869$1,131$658$371$205$60
44 years$1,806$1,078$617$342$186$52
45 years$1,746$1,028$580$316$169$46
46 years$1,689$981$544$292$153$40
47 years$1,634$936$511$270$139$35
48 years$1,582$893$481$249$126$31
49 years$1,532$853$452$231$115$27
50 years$1,484$815$425$213$104$24

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $1,520,000, adding $3,269 every year, while hoping to spend $35,648 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: 78/17/5 Blend
55$1,520,000$1,520,000$1,520,000$1,520,000
56$1,678,412$1,597,852$1,574,292$1,808,690
57$1,811,681$1,638,218$1,589,102$1,934,906
58$1,957,348$1,679,366$1,603,212$2,068,290
59$2,116,641$1,721,299$1,616,564$2,213,490
60$2,290,911$1,764,015$1,629,091$2,371,664
61$2,481,645$1,807,513$1,640,727$2,544,087
62$2,690,482$1,851,789$1,651,400$2,732,163
63$2,919,224$1,896,840$1,661,035$2,937,438
64$3,169,859$1,942,660$1,669,554$3,161,614
65$3,444,575$1,989,240$1,676,874$3,406,566
66$3,745,780$2,036,571$1,682,907$3,674,360
67$4,076,129$2,084,642$1,687,564$3,967,269
68$4,438,544$2,133,440$1,690,747$4,287,799
69$4,836,245$2,182,948$1,692,357$4,638,709
70$5,272,777$2,233,148$1,692,287$5,023,039
71$5,752,049$2,284,020$1,690,426$5,444,137
72$6,278,361$2,335,541$1,686,659$5,905,692
73$6,856,455$2,387,683$1,680,863$6,411,768
74$7,491,552$2,440,418$1,672,910$6,966,841
75$8,189,404$2,493,713$1,662,667$7,575,843
76$8,956,350$2,547,531$1,649,993$8,244,209
77$9,799,370$2,601,833$1,634,740$8,977,923
78$10,726,157$2,656,573$1,616,755$9,783,584
79$11,745,184$2,711,705$1,595,875$10,668,457
80$12,865,788$2,767,174$1,571,933$11,640,549
81$14,098,256$2,822,923$1,544,750$12,708,685
82$15,453,920$2,878,888$1,514,141$13,882,583
83$16,945,268$2,935,002$1,479,913$15,172,957
84$18,586,058$2,991,189$1,441,862$16,591,607
85$20,391,447$3,047,369$1,399,776$18,151,539
86$22,378,139$3,103,454$1,353,433$19,867,082
87$24,564,537$3,159,351$1,302,600$21,754,026
88$26,970,918$3,214,958$1,247,036$23,829,771
89$29,619,625$3,270,164$1,186,485$26,113,489
90$32,535,277$3,324,852$1,120,682$28,626,308
91$35,745,000$3,378,895$1,049,350$31,391,507
92$39,278,685$3,432,156$972,199$34,434,740
93$43,169,269$3,484,490$888,925$37,784,277
94$47,453,044$3,535,739$799,213$41,471,268
95$52,169,999$3,585,735$702,732$45,530,042
96$57,364,202$3,634,298$599,136$49,998,425
97$63,084,208$3,681,237$488,065$54,918,103
98$69,383,524$3,726,344$369,142$60,335,012
99$76,321,109$3,769,400$241,973$66,299,771
100$83,961,932$3,810,171$106,150$72,868,163