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%18.3%
1 years$125,520$124,402$123,311$122,247$121,207$117,140
2 years$62,139$60,981$59,860$58,772$57,718$53,660
3 years$41,014$39,852$38,733$37,656$36,618$32,698
4 years$30,454$29,295$28,188$27,129$26,117$22,363
5 years$24,120$22,968$21,875$20,838$19,853$16,277
6 years$19,898$18,755$17,678$16,664$15,709$12,313
7 years$16,884$15,751$14,691$13,700$12,776$9,559
8 years$14,624$13,501$12,459$11,493$10,599$7,559
9 years$12,868$11,755$10,731$9,789$8,926$6,059
10 years$11,463$10,362$9,355$8,439$7,605$4,907
11 years$10,315$9,224$8,236$7,344$6,541$4,006
12 years$9,359$8,279$7,310$6,442$5,668$3,291
13 years$8,550$7,482$6,531$5,687$4,943$2,718
14 years$7,858$6,801$5,868$5,048$4,333$2,253
15 years$7,258$6,213$5,298$4,502$3,815$1,874
16 years$6,734$5,700$4,803$4,031$3,372$1,563
17 years$6,272$5,250$4,371$3,622$2,989$1,306
18 years$5,862$4,851$3,990$3,264$2,658$1,094
19 years$5,495$4,496$3,653$2,950$2,369$918
20 years$5,166$4,178$3,352$2,671$2,116$771
21 years$4,868$3,891$3,083$2,424$1,894$648
22 years$4,598$3,632$2,842$2,204$1,698$545
23 years$4,352$3,397$2,624$2,008$1,524$459
24 years$4,126$3,183$2,427$1,831$1,370$387
25 years$3,919$2,987$2,248$1,672$1,232$326
26 years$3,728$2,807$2,084$1,529$1,110$275
27 years$3,551$2,642$1,936$1,399$1,001$232
28 years$3,388$2,490$1,799$1,282$903$196
29 years$3,236$2,349$1,675$1,176$815$165
30 years$3,094$2,218$1,560$1,079$737$139
31 years$2,962$2,097$1,454$991$666$118
32 years$2,838$1,984$1,357$911$603$99
33 years$2,722$1,879$1,267$838$545$84
34 years$2,613$1,781$1,184$771$494$71
35 years$2,511$1,689$1,107$709$447$60
36 years$2,414$1,603$1,035$653$405$51
37 years$2,323$1,523$969$602$367$43
38 years$2,237$1,447$907$555$333$36
39 years$2,155$1,376$850$512$302$31
40 years$2,078$1,309$797$472$274$26
41 years$2,005$1,246$747$435$248$22
42 years$1,935$1,187$701$402$225$18
43 years$1,869$1,131$658$371$205$16
44 years$1,806$1,078$617$342$186$13
45 years$1,746$1,028$580$316$169$11
46 years$1,689$981$544$292$153$9
47 years$1,634$936$511$270$139$8
48 years$1,582$893$481$249$126$7
49 years$1,532$853$452$231$115$6
50 years$1,484$815$425$213$104$5

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 $4,495 every year, while hoping to spend $55,947 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: 38/32/30 Blend
55$1,520,000$1,520,000$1,520,000$1,520,000
56$1,679,677$1,599,117$1,575,557$1,728,375
57$1,791,476$1,617,946$1,568,811$1,783,559
58$1,912,805$1,635,823$1,559,963$1,837,746
59$2,044,574$1,652,642$1,548,886$1,895,261
60$2,187,789$1,668,290$1,535,442$1,956,447
61$2,343,554$1,682,647$1,519,490$2,021,681
62$2,513,085$1,695,584$1,500,880$2,091,384
63$2,697,717$1,706,966$1,479,458$2,166,020
64$2,898,924$1,716,647$1,455,059$2,246,108
65$3,118,324$1,724,472$1,427,513$2,332,221
66$3,357,700$1,730,278$1,396,642$2,424,994
67$3,619,013$1,733,889$1,362,257$2,525,132
68$3,904,423$1,735,121$1,324,163$2,633,418
69$4,216,308$1,733,775$1,282,156$2,750,717
70$4,557,284$1,729,643$1,236,021$2,877,988
71$4,930,233$1,722,502$1,185,535$3,016,295
72$5,338,329$1,712,116$1,130,462$3,166,814
73$5,785,065$1,698,236$1,070,558$3,330,850
74$6,274,287$1,680,596$1,005,568$3,509,844
75$6,810,234$1,658,914$935,224$3,705,393
76$7,397,570$1,632,893$859,247$3,919,266
77$8,041,435$1,602,217$777,344$4,153,417
78$8,747,486$1,566,551$689,210$4,410,010
79$9,521,959$1,525,541$594,528$4,691,438
80$10,371,718$1,478,812$492,963$5,000,346
81$11,304,326$1,425,967$384,170$5,339,661
82$12,328,112$1,366,584$267,785$5,712,618
83$13,452,254$1,300,221$143,430$6,122,793
84$14,686,858$1,226,406$10,709$6,574,138
85$16,043,059$1,144,642$0$7,071,022
86$17,533,125$1,054,403$0$7,660,181
87$19,170,568$955,132$0$8,311,422
88$20,970,275$846,244$0$9,027,348
89$22,948,649$727,115$0$9,814,619
90$25,123,758$597,091$0$10,680,578
91$27,515,510$455,477$0$11,633,330
92$30,145,838$301,541$0$12,681,812
93$33,038,908$134,511$0$13,835,881
94$36,221,344$0$0$15,106,414
95$39,722,481$0$0$16,521,751
96$43,574,641$0$0$18,131,340
97$47,813,436$0$0$19,902,724
98$52,478,104$0$0$21,852,333
99$57,611,881$0$0$23,998,266
100$63,262,406$0$0$26,360,470