Can I retire at age 56 with 1,660,000?

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 $1,660,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.9%
1 years$137,081$135,860$134,669$133,506$132,371$129,171
2 years$67,862$66,598$65,373$64,186$63,034$59,829
3 years$44,792$43,523$42,301$41,124$39,991$36,882
4 years$33,259$31,994$30,784$29,628$28,522$25,532
5 years$26,341$25,083$23,890$22,757$21,682$18,820
6 years$21,731$20,483$19,306$18,199$17,156$14,425
7 years$18,439$17,201$16,044$14,962$13,953$11,352
8 years$15,971$14,745$13,606$12,552$11,575$9,104
9 years$14,053$12,838$11,719$10,691$9,748$7,405
10 years$12,519$11,316$10,217$9,216$8,306$6,088
11 years$11,265$10,074$8,995$8,021$7,143$5,048
12 years$10,221$9,042$7,983$7,035$6,190$4,213
13 years$9,338$8,171$7,132$6,211$5,398$3,536
14 years$8,582$7,427$6,408$5,513$4,732$2,980
15 years$7,927$6,785$5,786$4,917$4,166$2,521
16 years$7,354$6,225$5,246$4,403$3,682$2,139
17 years$6,850$5,733$4,773$3,956$3,265$1,820
18 years$6,402$5,298$4,357$3,565$2,903$1,551
19 years$6,002$4,910$3,989$3,221$2,587$1,325
20 years$5,642$4,562$3,661$2,917$2,311$1,133
21 years$5,317$4,250$3,367$2,648$2,068$970
22 years$5,021$3,967$3,104$2,407$1,854$832
23 years$4,752$3,710$2,866$2,192$1,664$714
24 years$4,506$3,476$2,650$2,000$1,496$613
25 years$4,280$3,262$2,455$1,826$1,346$527
26 years$4,071$3,066$2,276$1,670$1,212$453
27 years$3,878$2,885$2,114$1,528$1,093$389
28 years$3,700$2,719$1,965$1,400$986$335
29 years$3,534$2,565$1,829$1,284$891$289
30 years$3,379$2,422$1,703$1,179$805$248
31 years$3,235$2,290$1,588$1,082$728$214
32 years$3,099$2,167$1,482$995$658$184
33 years$2,973$2,052$1,383$915$596$159
34 years$2,854$1,945$1,293$842$539$137
35 years$2,742$1,845$1,208$775$488$118
36 years$2,636$1,751$1,131$714$443$102
37 years$2,537$1,663$1,058$657$401$88
38 years$2,443$1,580$991$606$364$76
39 years$2,354$1,503$928$559$330$65
40 years$2,269$1,430$870$515$299$56
41 years$2,189$1,361$816$475$271$49
42 years$2,113$1,296$765$439$246$42
43 years$2,041$1,235$718$405$223$36
44 years$1,972$1,177$674$374$203$31
45 years$1,907$1,123$633$345$184$27
46 years$1,844$1,071$595$319$167$23
47 years$1,785$1,022$559$295$152$20
48 years$1,727$976$525$272$138$17
49 years$1,673$932$493$252$125$15
50 years$1,621$890$464$233$114$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $1,660,000, adding $2,804 every year, while hoping to spend $36,754 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: 66/17/17 Blend
55$1,660,000$1,660,000$1,660,000$1,660,000
56$1,832,212$1,744,232$1,718,502$1,945,351
57$1,979,992$1,790,594$1,736,966$2,067,762
58$2,141,613$1,837,995$1,754,817$2,197,002
59$2,318,450$1,886,448$1,771,995$2,337,380
60$2,512,012$1,935,965$1,788,437$2,489,988
61$2,723,966$1,986,556$1,804,079$2,656,027
62$2,956,145$2,038,232$1,818,850$2,836,819
63$3,210,568$2,091,001$1,832,677$3,033,823
64$3,489,458$2,144,873$1,845,484$3,248,643
65$3,795,265$2,199,853$1,857,190$3,483,047
66$4,130,684$2,255,949$1,867,708$3,738,985
67$4,498,689$2,313,165$1,876,951$4,018,602
68$4,902,550$2,371,504$1,884,824$4,324,261
69$5,345,872$2,430,970$1,891,227$4,658,569
70$5,832,625$2,491,562$1,896,058$5,024,394
71$6,367,185$2,553,280$1,899,207$5,424,899
72$6,954,367$2,616,121$1,900,560$5,863,567
73$7,599,480$2,680,079$1,899,997$6,344,237
74$8,308,372$2,745,147$1,897,392$6,871,139
75$9,087,484$2,811,317$1,892,612$7,448,933
76$9,943,912$2,878,577$1,885,520$8,082,754
77$10,885,476$2,946,911$1,875,969$8,778,260
78$11,920,788$3,016,304$1,863,808$9,541,688
79$13,059,340$3,086,734$1,848,876$10,379,908
80$14,311,586$3,158,178$1,831,008$11,300,492
81$15,689,048$3,230,609$1,810,027$12,311,782
82$17,204,418$3,303,995$1,785,750$13,422,974
83$18,871,681$3,378,304$1,757,985$14,644,198
84$20,706,246$3,453,494$1,726,530$15,986,620
85$22,725,090$3,529,522$1,691,177$17,462,545
86$24,946,922$3,606,341$1,651,703$19,085,529
87$27,392,351$3,683,895$1,607,879$20,870,516
88$30,084,091$3,762,126$1,559,463$22,833,971
89$33,047,167$3,840,969$1,506,203$24,994,040
90$36,309,154$3,920,352$1,447,836$27,370,720
91$39,900,435$4,000,196$1,384,086$29,986,047
92$43,854,490$4,080,417$1,314,664$32,864,307
93$48,208,212$4,160,922$1,239,270$36,032,263
94$53,002,251$4,241,608$1,157,587$39,519,407
95$58,281,402$4,322,368$1,069,287$43,358,243
96$64,095,023$4,403,082$974,026$47,584,588
97$70,497,504$4,483,622$871,445$52,237,916
98$77,548,779$4,563,849$761,168$57,361,728
99$85,314,891$4,643,614$642,803$63,003,962
100$93,868,615$4,722,756$515,942$69,217,450