Can I retire at age 56 with 1,560,000?

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 $1,560,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.2%
1 years$128,823$127,676$126,556$125,464$124,397$120,270
2 years$63,774$62,586$61,435$60,319$59,236$55,119
3 years$42,094$40,901$39,753$38,647$37,582$33,603
4 years$31,256$30,066$28,930$27,843$26,804$22,994
5 years$24,754$23,572$22,451$21,386$20,376$16,745
6 years$20,422$19,249$18,143$17,103$16,123$12,674
7 years$17,328$16,165$15,077$14,061$13,112$9,845
8 years$15,009$13,856$12,787$11,795$10,878$7,789
9 years$13,206$12,064$11,013$10,047$9,161$6,248
10 years$11,765$10,634$9,602$8,661$7,805$5,063
11 years$10,586$9,467$8,453$7,537$6,713$4,136
12 years$9,605$8,497$7,502$6,611$5,817$3,400
13 years$8,775$7,679$6,702$5,837$5,073$2,810
14 years$8,065$6,980$6,022$5,181$4,447$2,331
15 years$7,449$6,376$5,437$4,621$3,915$1,940
16 years$6,911$5,850$4,930$4,137$3,460$1,619
17 years$6,437$5,388$4,486$3,717$3,068$1,355
18 years$6,016$4,979$4,095$3,350$2,728$1,135
19 years$5,640$4,614$3,749$3,027$2,432$953
20 years$5,302$4,288$3,440$2,742$2,172$801
21 years$4,996$3,994$3,164$2,488$1,944$674
22 years$4,719$3,728$2,917$2,262$1,742$567
23 years$4,466$3,487$2,693$2,060$1,564$478
24 years$4,235$3,267$2,491$1,879$1,406$403
25 years$4,022$3,066$2,307$1,716$1,265$340
26 years$3,826$2,881$2,139$1,569$1,139$287
27 years$3,645$2,712$1,987$1,436$1,027$242
28 years$3,477$2,555$1,847$1,316$927$205
29 years$3,321$2,411$1,719$1,207$837$173
30 years$3,175$2,276$1,601$1,108$756$146
31 years$3,040$2,152$1,492$1,017$684$123
32 years$2,913$2,036$1,392$935$618$104
33 years$2,794$1,928$1,300$860$560$88
34 years$2,682$1,828$1,215$791$507$75
35 years$2,577$1,733$1,136$728$459$63
36 years$2,478$1,645$1,062$671$416$53
37 years$2,384$1,563$994$618$377$45
38 years$2,296$1,485$931$569$342$38
39 years$2,212$1,412$872$525$310$32
40 years$2,133$1,344$818$484$281$27
41 years$2,058$1,279$767$447$255$23
42 years$1,986$1,218$719$412$231$20
43 years$1,918$1,161$675$381$210$17
44 years$1,854$1,106$634$351$191$14
45 years$1,792$1,055$595$325$173$12
46 years$1,733$1,006$559$300$157$10
47 years$1,677$960$525$277$143$8
48 years$1,623$917$493$256$130$7
49 years$1,572$875$464$237$118$6
50 years$1,523$836$436$219$107$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $1,560,000, adding $5,895 every year, while hoping to spend $32,169 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: 63/19/18 Blend
55$1,560,000$1,560,000$1,560,000$1,560,000
56$1,725,201$1,642,521$1,618,341$1,825,685
57$1,866,944$1,688,777$1,638,328$1,940,237
58$2,022,066$1,736,221$1,657,906$2,061,116
59$2,191,899$1,784,878$1,677,028$2,192,368
60$2,377,908$1,834,772$1,695,643$2,335,005
61$2,581,706$1,885,927$1,713,699$2,490,143
62$2,805,071$1,938,369$1,731,139$2,659,010
63$3,049,960$1,992,121$1,747,904$2,842,959
64$3,318,530$2,047,208$1,763,932$3,043,481
65$3,613,154$2,103,655$1,779,158$3,262,216
66$3,936,447$2,161,487$1,793,512$3,500,972
67$4,291,292$2,220,726$1,806,921$3,761,742
68$4,680,860$2,281,398$1,819,309$4,046,718
69$5,108,647$2,343,527$1,830,596$4,358,317
70$5,578,505$2,407,135$1,840,697$4,699,201
71$6,094,675$2,472,247$1,849,522$5,072,305
72$6,661,829$2,538,885$1,856,979$5,480,859
73$7,285,117$2,607,071$1,862,969$5,928,424
74$7,970,209$2,676,828$1,867,388$6,418,922
75$8,723,354$2,748,176$1,870,129$6,956,676
76$9,551,435$2,821,135$1,871,078$7,546,448
77$10,462,037$2,895,726$1,870,114$8,193,484
78$11,463,515$2,971,968$1,867,114$8,903,568
79$12,565,076$3,049,877$1,861,945$9,683,069
80$13,776,864$3,129,471$1,854,470$10,539,007
81$15,110,053$3,210,764$1,844,544$11,479,119
82$16,576,959$3,293,771$1,832,016$12,511,927
83$18,191,147$3,378,505$1,816,727$13,646,824
84$19,967,568$3,464,975$1,798,511$14,894,160
85$21,922,693$3,553,192$1,777,195$16,265,340
86$24,074,671$3,643,162$1,752,594$17,772,932
87$26,443,501$3,734,891$1,724,519$19,430,787
88$29,051,218$3,828,380$1,692,770$21,254,165
89$31,922,102$3,923,630$1,657,138$23,259,885
90$35,082,907$4,020,639$1,617,403$25,466,480
91$38,563,114$4,119,401$1,573,336$27,894,374
92$42,395,208$4,219,907$1,524,699$30,566,073
93$46,614,982$4,322,146$1,471,240$33,506,380
94$51,261,881$4,426,102$1,412,697$36,742,627
95$56,379,367$4,531,755$1,348,796$40,304,933
96$62,015,332$4,639,081$1,279,251$44,226,491
97$68,222,552$4,748,052$1,203,762$48,543,879
98$75,059,181$4,858,635$1,122,017$53,297,407
99$82,589,301$4,970,791$1,033,687$58,531,496
100$90,883,526$5,084,477$938,433$64,295,099