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%18.9%
1 years$125,520$124,402$123,311$122,247$121,207$116,860
2 years$62,139$60,981$59,860$58,772$57,718$53,385
3 years$41,014$39,852$38,733$37,656$36,618$32,437
4 years$30,454$29,295$28,188$27,129$26,117$22,117
5 years$24,120$22,968$21,875$20,838$19,853$16,047
6 years$19,898$18,755$17,678$16,664$15,709$12,099
7 years$16,884$15,751$14,691$13,700$12,776$9,361
8 years$14,624$13,501$12,459$11,493$10,599$7,376
9 years$12,868$11,755$10,731$9,789$8,926$5,891
10 years$11,463$10,362$9,355$8,439$7,605$4,753
11 years$10,315$9,224$8,236$7,344$6,541$3,865
12 years$9,359$8,279$7,310$6,442$5,668$3,163
13 years$8,550$7,482$6,531$5,687$4,943$2,601
14 years$7,858$6,801$5,868$5,048$4,333$2,147
15 years$7,258$6,213$5,298$4,502$3,815$1,778
16 years$6,734$5,700$4,803$4,031$3,372$1,477
17 years$6,272$5,250$4,371$3,622$2,989$1,229
18 years$5,862$4,851$3,990$3,264$2,658$1,025
19 years$5,495$4,496$3,653$2,950$2,369$855
20 years$5,166$4,178$3,352$2,671$2,116$715
21 years$4,868$3,891$3,083$2,424$1,894$598
22 years$4,598$3,632$2,842$2,204$1,698$501
23 years$4,352$3,397$2,624$2,008$1,524$420
24 years$4,126$3,183$2,427$1,831$1,370$352
25 years$3,919$2,987$2,248$1,672$1,232$295
26 years$3,728$2,807$2,084$1,529$1,110$248
27 years$3,551$2,642$1,936$1,399$1,001$208
28 years$3,388$2,490$1,799$1,282$903$175
29 years$3,236$2,349$1,675$1,176$815$147
30 years$3,094$2,218$1,560$1,079$737$123
31 years$2,962$2,097$1,454$991$666$104
32 years$2,838$1,984$1,357$911$603$87
33 years$2,722$1,879$1,267$838$545$73
34 years$2,613$1,781$1,184$771$494$62
35 years$2,511$1,689$1,107$709$447$52
36 years$2,414$1,603$1,035$653$405$43
37 years$2,323$1,523$969$602$367$37
38 years$2,237$1,447$907$555$333$31
39 years$2,155$1,376$850$512$302$26
40 years$2,078$1,309$797$472$274$22
41 years$2,005$1,246$747$435$248$18
42 years$1,935$1,187$701$402$225$15
43 years$1,869$1,131$658$371$205$13
44 years$1,806$1,078$617$342$186$11
45 years$1,746$1,028$580$316$169$9
46 years$1,689$981$544$292$153$8
47 years$1,634$936$511$270$139$6
48 years$1,582$893$481$249$126$5
49 years$1,532$853$452$231$115$5
50 years$1,484$815$425$213$104$4

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 $5,073 every year, while hoping to spend $56,736 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: 58/13/29 Blend
55$1,520,000$1,520,000$1,520,000$1,520,000
56$1,680,273$1,599,713$1,576,153$1,764,119
57$1,791,294$1,617,732$1,568,587$1,840,205
58$1,911,738$1,634,733$1,558,867$1,916,736
59$2,042,505$1,650,605$1,546,859$1,999,031
60$2,184,588$1,665,232$1,532,426$2,087,665
61$2,339,076$1,678,488$1,515,422$2,183,276
62$2,507,169$1,690,242$1,495,696$2,286,567
63$2,690,187$1,700,350$1,473,089$2,398,315
64$2,889,583$1,708,664$1,447,434$2,519,378
65$3,106,954$1,715,022$1,418,557$2,650,703
66$3,344,060$1,719,255$1,386,275$2,793,337
67$3,602,838$1,721,182$1,350,399$2,948,436
68$3,885,417$1,720,610$1,310,727$3,117,276
69$4,194,145$1,717,335$1,267,052$3,301,267
70$4,531,604$1,711,141$1,219,154$3,501,965
71$4,900,638$1,701,797$1,166,807$3,721,088
72$5,304,379$1,689,060$1,109,770$3,960,532
73$5,746,273$1,672,672$1,047,794$4,222,390
74$6,230,116$1,652,356$980,620$4,508,975
75$6,760,090$1,627,824$907,972$4,822,837
76$7,340,799$1,598,767$829,569$5,166,791
77$7,977,311$1,564,857$745,110$5,543,945
78$8,675,212$1,525,751$654,287$5,957,727
79$9,440,652$1,481,080$556,774$6,411,922
80$10,280,405$1,430,459$452,231$6,910,705
81$11,201,931$1,373,477$340,307$7,458,684
82$12,213,451$1,309,700$220,629$8,060,942
83$13,324,016$1,238,669$92,814$8,723,087
84$14,543,601$1,159,899$0$9,451,307
85$15,883,190$1,072,875$0$10,265,915
86$17,354,885$977,056$0$11,192,480
87$18,972,019$871,867$0$12,210,694
88$20,749,279$756,703$0$13,329,860
89$22,702,846$630,922$0$14,560,233
90$24,850,547$493,848$0$15,913,113
91$27,212,021$344,765$0$17,400,955
92$29,808,908$182,919$0$19,037,485
93$32,665,047$7,513$0$20,837,830
94$35,806,704$0$0$22,818,664
95$39,262,820$0$0$25,024,439
96$43,065,281$0$0$27,452,590
97$47,249,218$0$0$30,124,495
98$51,853,343$0$0$33,064,895
99$56,920,306$0$0$36,301,048
100$62,497,104$0$0$39,862,990