Can I retire at age 56 with 1,550,000?

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 $1,550,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.6%
1 years$127,998$126,857$125,745$124,659$123,599$119,787
2 years$63,365$62,185$61,041$59,932$58,857$55,049
3 years$41,824$40,639$39,498$38,399$37,341$33,658
4 years$31,055$29,874$28,744$27,664$26,632$23,101
5 years$24,596$23,421$22,307$21,249$20,245$16,876
6 years$20,291$19,125$18,027$16,993$16,019$12,815
7 years$17,217$16,061$14,981$13,971$13,028$9,989
8 years$14,913$13,768$12,705$11,720$10,808$7,931
9 years$13,122$11,987$10,943$9,983$9,102$6,385
10 years$11,690$10,566$9,540$8,605$7,755$5,194
11 years$10,519$9,406$8,399$7,489$6,670$4,260
12 years$9,543$8,443$7,454$6,569$5,780$3,516
13 years$8,719$7,630$6,659$5,799$5,040$2,917
14 years$8,013$6,935$5,984$5,148$4,418$2,430
15 years$7,402$6,335$5,402$4,591$3,890$2,031
16 years$6,867$5,813$4,898$4,111$3,438$1,703
17 years$6,396$5,353$4,457$3,694$3,048$1,431
18 years$5,978$4,947$4,069$3,329$2,711$1,204
19 years$5,604$4,584$3,725$3,008$2,416$1,015
20 years$5,268$4,260$3,418$2,724$2,158$857
21 years$4,964$3,968$3,144$2,472$1,931$725
22 years$4,689$3,704$2,898$2,248$1,731$613
23 years$4,437$3,464$2,676$2,047$1,554$519
24 years$4,207$3,246$2,475$1,867$1,397$440
25 years$3,996$3,046$2,292$1,705$1,257$373
26 years$3,801$2,863$2,126$1,559$1,132$316
27 years$3,621$2,694$1,974$1,427$1,021$268
28 years$3,455$2,539$1,835$1,308$921$228
29 years$3,300$2,395$1,708$1,199$832$193
30 years$3,155$2,262$1,591$1,100$751$164
31 years$3,020$2,138$1,483$1,011$679$139
32 years$2,894$2,023$1,383$929$615$118
33 years$2,776$1,916$1,292$854$556$101
34 years$2,665$1,816$1,207$786$504$85
35 years$2,560$1,722$1,128$723$456$73
36 years$2,462$1,635$1,056$666$413$62
37 years$2,369$1,553$988$614$374$52
38 years$2,281$1,476$925$566$340$45
39 years$2,198$1,403$867$522$308$38
40 years$2,119$1,335$813$481$279$32
41 years$2,044$1,271$762$444$253$27
42 years$1,973$1,210$715$410$230$23
43 years$1,906$1,153$671$378$209$20
44 years$1,842$1,099$629$349$189$17
45 years$1,780$1,048$591$323$172$14
46 years$1,722$1,000$555$298$156$12
47 years$1,666$954$522$275$142$10
48 years$1,613$911$490$254$129$9
49 years$1,562$870$461$235$117$7
50 years$1,513$831$433$217$106$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $1,550,000, adding $4,541 every year, while hoping to spend $26,898 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: 89/6/5 Blend
55$1,550,000$1,550,000$1,550,000$1,550,000
56$1,712,784$1,630,634$1,606,609$1,865,071
57$1,858,869$1,681,916$1,631,811$2,016,055
58$2,018,953$1,734,809$1,656,956$2,177,777
59$2,194,435$1,789,364$1,682,013$2,354,703
60$2,386,858$1,845,633$1,706,951$2,548,349
61$2,597,918$1,903,670$1,731,735$2,760,381
62$2,829,486$1,963,530$1,756,328$2,992,634
63$3,083,620$2,025,270$1,780,692$3,247,130
64$3,362,591$2,088,950$1,804,787$3,526,095
65$3,668,897$2,154,630$1,828,569$3,831,983
66$4,005,291$2,222,373$1,851,992$4,167,496
67$4,374,805$2,292,243$1,875,008$4,535,608
68$4,780,780$2,364,308$1,897,566$4,939,599
69$5,226,896$2,438,636$1,919,611$5,383,080
70$5,717,208$2,515,298$1,941,087$5,870,028
71$6,256,183$2,594,368$1,961,933$6,404,827
72$6,848,742$2,675,920$1,982,086$6,992,304
73$7,500,307$2,760,032$2,001,479$7,637,778
74$8,216,850$2,846,786$2,020,040$8,347,110
75$9,004,953$2,936,263$2,037,696$9,126,755
76$9,871,867$3,028,549$2,054,368$9,983,828
77$10,825,582$3,123,732$2,069,973$10,926,164
78$11,874,898$3,221,902$2,084,425$11,962,398
79$13,029,517$3,323,154$2,097,631$13,102,045
80$14,300,122$3,427,583$2,109,497$14,355,586
81$15,698,490$3,535,290$2,119,920$15,734,570
82$17,237,593$3,646,376$2,128,795$17,251,723
83$18,931,728$3,760,949$2,136,009$18,921,067
84$20,796,645$3,879,116$2,141,446$20,758,051
85$22,849,700$4,000,991$2,144,983$22,779,700
86$25,110,019$4,126,689$2,146,490$25,004,770
87$27,598,675$4,256,330$2,145,831$27,453,930
88$30,338,888$4,390,038$2,142,864$30,149,956
89$33,356,244$4,527,940$2,137,440$33,117,943
90$36,678,939$4,670,167$2,129,402$36,385,544
91$40,338,040$4,816,854$2,118,586$39,983,230
92$44,367,781$4,968,142$2,104,820$43,944,577
93$48,805,887$5,124,173$2,087,923$48,306,585
94$53,693,926$5,285,096$2,067,707$53,110,022
95$59,077,705$5,451,064$2,043,974$58,399,816
96$65,007,700$5,622,235$2,016,516$64,225,470
97$71,539,533$5,798,772$1,985,117$70,641,538
98$78,734,495$5,980,842$1,949,549$77,708,132
99$86,660,129$6,168,619$1,909,574$85,491,495
100$95,390,861$6,362,279$1,864,943$94,064,621