Can I retire at age 56 with 1,610,000?

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 $1,610,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.8%
1 years$132,952$131,768$130,613$129,485$128,384$124,324
2 years$65,818$64,592$63,404$62,252$61,135$57,082
3 years$43,443$42,212$41,027$39,886$38,787$34,867
4 years$32,257$31,030$29,857$28,735$27,663$23,907
5 years$25,548$24,328$23,170$22,072$21,029$17,446
6 years$21,076$19,866$18,725$17,651$16,639$13,234
7 years$17,884$16,683$15,561$14,512$13,532$10,303
8 years$15,490$14,300$13,197$12,173$11,226$8,171
9 years$13,630$12,451$11,366$10,369$9,454$6,570
10 years$12,142$10,975$9,909$8,938$8,055$5,338
11 years$10,926$9,770$8,724$7,779$6,928$4,372
12 years$9,913$8,769$7,742$6,823$6,004$3,604
13 years$9,056$7,925$6,917$6,024$5,235$2,986
14 years$8,323$7,204$6,215$5,347$4,589$2,484
15 years$7,688$6,581$5,611$4,769$4,041$2,073
16 years$7,133$6,038$5,088$4,270$3,571$1,736
17 years$6,644$5,560$4,630$3,837$3,166$1,456
18 years$6,209$5,138$4,226$3,458$2,815$1,224
19 years$5,821$4,762$3,869$3,124$2,509$1,030
20 years$5,472$4,425$3,551$2,830$2,242$869
21 years$5,157$4,122$3,266$2,568$2,006$733
22 years$4,870$3,847$3,010$2,335$1,798$619
23 years$4,609$3,598$2,779$2,126$1,614$523
24 years$4,370$3,372$2,570$1,939$1,451$443
25 years$4,151$3,164$2,381$1,771$1,305$375
26 years$3,949$2,974$2,208$1,619$1,176$317
27 years$3,762$2,799$2,050$1,482$1,060$269
28 years$3,588$2,637$1,906$1,358$957$228
29 years$3,427$2,488$1,774$1,245$864$193
30 years$3,277$2,349$1,652$1,143$780$164
31 years$3,137$2,221$1,540$1,050$706$139
32 years$3,006$2,102$1,437$965$638$118
33 years$2,883$1,990$1,342$887$578$100
34 years$2,768$1,886$1,254$816$523$85
35 years$2,659$1,789$1,172$751$474$72
36 years$2,557$1,698$1,096$692$429$61
37 years$2,461$1,613$1,026$638$389$52
38 years$2,369$1,533$961$588$353$44
39 years$2,283$1,457$900$542$320$37
40 years$2,201$1,387$844$500$290$32
41 years$2,123$1,320$791$461$263$27
42 years$2,050$1,257$742$426$239$23
43 years$1,980$1,198$697$393$217$19
44 years$1,913$1,142$654$363$197$16
45 years$1,849$1,089$614$335$179$14
46 years$1,789$1,039$577$309$162$12
47 years$1,731$991$542$286$147$10
48 years$1,675$946$509$264$134$9
49 years$1,623$904$479$244$121$7
50 years$1,572$863$450$226$110$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $1,610,000, adding $6,271 every year, while hoping to spend $43,325 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: 46/26/28 Blend
55$1,610,000$1,610,000$1,610,000$1,610,000
56$1,780,689$1,695,359$1,670,404$1,847,994
57$1,916,221$1,732,334$1,680,265$1,933,265
58$2,064,126$1,769,668$1,689,004$2,021,053
59$2,225,620$1,807,335$1,696,538$2,115,474
60$2,402,041$1,845,302$1,702,780$2,217,174
61$2,594,863$1,883,536$1,707,637$2,326,862
62$2,805,709$1,921,999$1,711,013$2,445,325
63$3,036,366$1,960,652$1,712,806$2,573,428
64$3,288,801$1,999,449$1,712,911$2,712,125
65$3,565,180$2,038,343$1,711,215$2,862,469
66$3,867,888$2,077,282$1,707,601$3,025,621
67$4,199,554$2,116,210$1,701,946$3,202,862
68$4,563,069$2,155,065$1,694,122$3,395,605
69$4,961,620$2,193,781$1,683,993$3,605,408
70$5,398,717$2,232,288$1,671,419$3,833,990
71$5,878,224$2,270,508$1,656,249$4,083,246
72$6,404,400$2,308,360$1,638,330$4,355,268
73$6,981,933$2,345,754$1,617,499$4,652,362
74$7,615,990$2,382,596$1,593,585$4,977,070
75$8,312,260$2,418,782$1,566,409$5,332,199
76$9,077,012$2,454,204$1,535,785$5,720,841
77$9,917,151$2,488,744$1,501,518$6,146,410
78$10,840,285$2,522,277$1,463,403$6,612,667
79$11,854,793$2,554,667$1,421,226$7,123,762
80$12,969,908$2,585,772$1,374,763$7,684,273
81$14,195,801$2,615,437$1,323,780$8,299,245
82$15,543,679$2,643,500$1,268,033$8,974,244
83$17,025,887$2,669,784$1,207,265$9,715,406
84$18,656,028$2,694,105$1,141,209$10,529,500
85$20,449,089$2,716,262$1,069,586$11,423,987
86$22,421,582$2,736,044$992,103$12,407,095
87$24,591,700$2,753,227$908,455$13,487,898
88$26,979,487$2,767,569$818,322$14,676,399
89$29,607,032$2,778,817$721,373$15,983,628
90$32,498,668$2,786,698$617,258$17,421,748
91$35,681,211$2,790,925$505,614$19,004,166
92$39,184,204$2,791,190$386,063$20,745,668
93$43,040,204$2,787,169$258,207$22,662,553
94$47,285,081$2,778,517$121,632$24,772,790
95$51,958,360$2,764,865$0$27,096,192
96$57,103,596$2,745,826$0$29,661,805
97$62,768,778$2,720,987$0$32,525,752
98$69,006,788$2,689,910$0$35,678,342
99$75,875,897$2,652,132$0$39,148,986
100$83,440,312$2,607,161$0$42,970,097