Can I retire at age 56 with 1,650,000?

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 $1,650,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.8%
1 years$136,255$135,042$133,858$132,702$131,573$128,445
2 years$67,453$66,197$64,979$63,799$62,654$59,520
3 years$44,522$43,260$42,046$40,877$39,750$36,709
4 years$33,059$31,801$30,599$29,449$28,350$25,426
5 years$26,183$24,932$23,746$22,620$21,551$18,751
6 years$21,600$20,359$19,190$18,089$17,053$14,380
7 years$18,328$17,098$15,947$14,872$13,869$11,323
8 years$15,875$14,656$13,524$12,476$11,505$9,086
9 years$13,968$12,761$11,649$10,627$9,689$7,395
10 years$12,444$11,248$10,156$9,160$8,256$6,083
11 years$11,197$10,013$8,941$7,972$7,100$5,047
12 years$10,159$8,987$7,935$6,993$6,153$4,215
13 years$9,281$8,122$7,089$6,174$5,365$3,540
14 years$8,530$7,383$6,370$5,480$4,703$2,986
15 years$7,879$6,744$5,751$4,887$4,141$2,528
16 years$7,310$6,188$5,214$4,376$3,660$2,146
17 years$6,809$5,699$4,745$3,932$3,245$1,827
18 years$6,363$5,266$4,331$3,543$2,885$1,559
19 years$5,966$4,880$3,965$3,202$2,572$1,332
20 years$5,608$4,535$3,639$2,900$2,297$1,140
21 years$5,285$4,224$3,347$2,632$2,056$977
22 years$4,991$3,943$3,085$2,393$1,843$838
23 years$4,724$3,688$2,848$2,179$1,654$720
24 years$4,479$3,455$2,634$1,988$1,487$619
25 years$4,254$3,243$2,440$1,815$1,338$532
26 years$4,047$3,048$2,263$1,660$1,205$458
27 years$3,855$2,868$2,101$1,519$1,086$394
28 years$3,677$2,703$1,953$1,392$980$339
29 years$3,512$2,550$1,818$1,276$885$292
30 years$3,359$2,408$1,693$1,171$800$252
31 years$3,215$2,276$1,578$1,076$723$217
32 years$3,081$2,154$1,473$989$654$187
33 years$2,955$2,040$1,375$909$592$162
34 years$2,837$1,933$1,285$837$536$139
35 years$2,725$1,834$1,201$770$485$120
36 years$2,621$1,740$1,124$709$440$104
37 years$2,522$1,653$1,052$653$399$90
38 years$2,428$1,571$985$602$361$77
39 years$2,340$1,494$923$555$328$67
40 years$2,256$1,421$865$512$297$58
41 years$2,176$1,353$811$473$270$50
42 years$2,101$1,288$761$436$245$43
43 years$2,029$1,228$714$403$222$37
44 years$1,960$1,170$670$372$202$32
45 years$1,895$1,116$629$343$183$28
46 years$1,833$1,064$591$317$166$24
47 years$1,774$1,016$555$293$151$21
48 years$1,717$970$522$271$137$18
49 years$1,663$926$490$250$124$15
50 years$1,611$885$461$231$113$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $1,650,000, adding $5,593 every year, while hoping to spend $44,973 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: 76/9/15 Blend
55$1,650,000$1,650,000$1,650,000$1,650,000
56$1,824,069$1,736,619$1,711,044$1,956,402
57$1,962,273$1,773,863$1,720,513$2,081,797
58$2,113,067$1,811,424$1,728,792$2,213,050
59$2,277,687$1,849,270$1,735,794$2,355,716
60$2,457,494$1,887,368$1,741,426$2,510,918
61$2,653,987$1,925,678$1,745,593$2,679,892
62$2,868,817$1,964,159$1,748,193$2,864,000
63$3,103,798$2,002,765$1,749,120$3,064,743
64$3,360,933$2,041,447$1,748,262$3,283,775
65$3,642,422$2,080,152$1,745,503$3,522,917
66$3,950,691$2,118,822$1,740,719$3,784,176
67$4,288,411$2,157,394$1,733,783$4,069,763
68$4,658,524$2,195,800$1,724,559$4,382,115
69$5,064,267$2,233,969$1,712,906$4,723,914
70$5,509,210$2,271,820$1,698,676$5,098,120
71$5,997,281$2,309,271$1,681,713$5,507,991
72$6,532,808$2,346,230$1,661,855$5,957,119
73$7,120,559$2,382,600$1,638,931$6,449,461
74$7,765,784$2,418,276$1,612,764$6,989,377
75$8,474,269$2,453,146$1,583,167$7,581,674
76$9,252,385$2,487,091$1,549,944$8,231,645
77$10,107,152$2,519,982$1,512,890$8,945,126
78$11,046,303$2,551,682$1,471,793$9,728,549
79$12,078,355$2,582,044$1,426,428$10,588,999
80$13,212,695$2,610,912$1,376,561$11,534,285
81$14,459,662$2,638,118$1,321,947$12,573,014
82$15,830,646$2,663,485$1,262,331$13,714,670
83$17,338,197$2,686,821$1,197,445$14,969,703
84$18,996,143$2,707,925$1,127,009$16,349,633
85$20,819,717$2,726,581$1,050,731$17,867,152
86$22,825,704$2,742,559$968,306$19,536,248
87$25,032,596$2,755,615$879,415$21,372,339
88$27,460,769$2,765,488$783,723$23,392,413
89$30,132,674$2,771,903$680,884$25,615,192
90$33,073,046$2,774,566$570,534$28,061,310
91$36,309,142$2,773,165$452,291$30,753,507
92$39,870,993$2,767,369$325,762$33,716,842
93$43,791,690$2,756,825$190,530$36,978,933
94$48,107,694$2,741,161$46,165$40,570,214
95$52,859,182$2,719,982$0$44,524,227
96$58,090,424$2,692,866$0$48,895,207
97$63,850,200$2,659,369$0$53,715,628
98$70,192,261$2,619,019$0$59,023,067
99$77,175,837$2,571,316$0$64,867,082
100$84,866,193$2,515,731$0$71,302,284