Can I retire at age 56 with 1,580,000?

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 $1,580,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%20%
1 years$130,475$129,313$128,179$127,072$125,991$120,945
2 years$64,592$63,389$62,223$61,092$59,996$54,975
3 years$42,633$41,425$40,262$39,142$38,064$33,227
4 years$31,656$30,452$29,301$28,200$27,147$22,531
5 years$25,072$23,875$22,738$21,660$20,637$16,253
6 years$20,684$19,495$18,376$17,322$16,329$12,180
7 years$17,550$16,372$15,271$14,241$13,280$9,364
8 years$15,202$14,034$12,951$11,947$11,017$7,330
9 years$13,376$12,219$11,154$10,176$9,278$5,815
10 years$11,916$10,771$9,725$8,772$7,905$4,659
11 years$10,722$9,588$8,561$7,634$6,799$3,762
12 years$9,728$8,606$7,598$6,696$5,892$3,056
13 years$8,888$7,777$6,788$5,912$5,138$2,494
14 years$8,168$7,069$6,099$5,248$4,504$2,043
15 years$7,545$6,458$5,507$4,680$3,965$1,679
16 years$7,000$5,925$4,993$4,190$3,505$1,383
17 years$6,520$5,457$4,543$3,765$3,107$1,142
18 years$6,093$5,042$4,147$3,393$2,763$944
19 years$5,712$4,673$3,797$3,066$2,463$782
20 years$5,370$4,343$3,484$2,777$2,200$648
21 years$5,060$4,045$3,205$2,520$1,969$537
22 years$4,779$3,776$2,954$2,291$1,765$446
23 years$4,523$3,531$2,727$2,087$1,584$371
24 years$4,289$3,309$2,522$1,903$1,424$308
25 years$4,073$3,105$2,336$1,738$1,281$256
26 years$3,875$2,918$2,167$1,589$1,154$213
27 years$3,692$2,746$2,012$1,455$1,040$177
28 years$3,521$2,588$1,870$1,333$939$148
29 years$3,363$2,441$1,741$1,222$848$123
30 years$3,216$2,306$1,621$1,122$766$102
31 years$3,079$2,180$1,512$1,030$692$85
32 years$2,950$2,062$1,410$947$626$71
33 years$2,830$1,953$1,317$871$567$59
34 years$2,716$1,851$1,230$801$513$49
35 years$2,610$1,756$1,150$737$465$41
36 years$2,509$1,666$1,076$679$421$34
37 years$2,415$1,583$1,007$626$382$28
38 years$2,325$1,504$943$577$346$24
39 years$2,240$1,430$884$532$314$20
40 years$2,160$1,361$828$491$285$16
41 years$2,084$1,295$777$453$258$14
42 years$2,012$1,234$728$418$234$11
43 years$1,943$1,175$684$386$213$10
44 years$1,877$1,120$642$356$193$8
45 years$1,815$1,068$603$329$175$7
46 years$1,755$1,019$566$304$159$6
47 years$1,699$973$532$281$144$5
48 years$1,644$929$500$259$131$4
49 years$1,592$887$470$240$119$3
50 years$1,543$847$441$221$108$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $1,580,000, adding $6,082 every year, while hoping to spend $29,942 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: 80/12/8 Blend
55$1,580,000$1,580,000$1,580,000$1,580,000
56$1,747,434$1,663,694$1,639,204$1,884,927
57$1,893,814$1,713,357$1,662,259$2,025,571
58$2,054,121$1,764,449$1,685,083$2,175,308
59$2,229,745$1,817,011$1,707,636$2,338,712
60$2,422,214$1,871,080$1,729,878$2,517,134
61$2,633,214$1,926,697$1,751,763$2,712,062
62$2,864,600$1,983,903$1,773,245$2,925,131
63$3,118,416$2,042,740$1,794,275$3,158,146
64$3,396,912$2,103,252$1,814,801$3,413,091
65$3,702,567$2,165,482$1,834,767$3,692,154
66$4,038,113$2,229,475$1,854,116$3,997,743
67$4,406,559$2,295,277$1,872,787$4,332,510
68$4,811,217$2,362,935$1,890,715$4,699,380
69$5,255,739$2,432,497$1,907,831$5,101,569
70$5,744,146$2,504,011$1,924,066$5,542,625
71$6,280,869$2,577,528$1,939,342$6,026,452
72$6,870,789$2,653,097$1,953,581$6,557,355
73$7,519,282$2,730,772$1,966,698$7,140,073
74$8,232,274$2,810,604$1,978,607$7,779,829
75$9,016,290$2,892,648$1,989,215$8,482,376
76$9,878,522$2,976,959$1,998,424$9,254,052
77$10,826,893$3,063,591$2,006,133$10,101,841
78$11,870,131$3,152,603$2,012,234$11,033,438
79$13,017,855$3,244,051$2,016,615$12,057,319
80$14,280,662$3,337,995$2,019,156$13,182,824
81$15,670,227$3,434,494$2,019,736$14,420,244
82$17,199,415$3,533,609$2,018,222$15,780,918
83$18,882,401$3,635,402$2,014,478$17,277,339
84$20,734,804$3,739,934$2,008,361$18,923,273
85$22,773,833$3,847,271$1,999,721$20,733,888
86$25,018,453$3,957,475$1,988,400$22,725,896
87$27,489,556$4,070,613$1,974,232$24,917,714
88$30,210,168$4,186,750$1,957,046$27,329,633
89$33,205,657$4,305,953$1,936,659$29,984,013
90$36,503,979$4,428,290$1,912,882$32,905,491
91$40,135,937$4,553,828$1,885,516$36,121,218
92$44,135,475$4,682,637$1,854,353$39,661,107
93$48,539,993$4,814,787$1,819,174$43,558,125
94$53,390,708$4,950,347$1,779,751$47,848,596
95$58,733,034$5,089,387$1,735,847$52,572,548
96$64,617,016$5,231,980$1,687,210$57,774,090
97$71,097,801$5,378,196$1,633,581$63,501,824
98$78,236,156$5,528,107$1,574,685$69,809,312
99$86,099,044$5,681,784$1,510,237$76,755,573
100$94,760,254$5,839,300$1,439,938$84,405,645