Can I retire at age 56 with 1,690,000?

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 $1,690,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.9%
1 years$139,559$138,316$137,103$135,919$134,763$132,042
2 years$69,088$67,802$66,555$65,346$64,173$61,443
3 years$45,601$44,309$43,065$41,868$40,714$38,061
4 years$33,860$32,572$31,341$30,163$29,037$26,482
5 years$26,817$25,537$24,322$23,168$22,074$19,623
6 years$22,124$20,853$19,655$18,528$17,466$15,122
7 years$18,772$17,512$16,334$15,233$14,205$11,968
8 years$16,260$15,011$13,852$12,778$11,784$9,655
9 years$14,307$13,070$11,931$10,884$9,924$7,900
10 years$12,745$11,520$10,402$9,382$8,456$6,535
11 years$11,469$10,256$9,157$8,166$7,272$5,453
12 years$10,405$9,205$8,127$7,162$6,302$4,581
13 years$9,507$8,319$7,261$6,323$5,495$3,870
14 years$8,737$7,562$6,524$5,613$4,817$3,284
15 years$8,070$6,908$5,890$5,006$4,241$2,798
16 years$7,487$6,338$5,340$4,482$3,749$2,391
17 years$6,974$5,837$4,860$4,027$3,324$2,049
18 years$6,518$5,393$4,436$3,629$2,955$1,759
19 years$6,110$4,999$4,061$3,279$2,634$1,514
20 years$5,744$4,645$3,727$2,970$2,353$1,304
21 years$5,413$4,327$3,428$2,696$2,106$1,125
22 years$5,112$4,039$3,160$2,451$1,887$972
23 years$4,838$3,777$2,917$2,232$1,694$841
24 years$4,587$3,539$2,698$2,036$1,523$728
25 years$4,357$3,321$2,499$1,859$1,370$630
26 years$4,145$3,121$2,318$1,700$1,234$546
27 years$3,949$2,938$2,152$1,556$1,113$474
28 years$3,767$2,768$2,001$1,426$1,004$411
29 years$3,598$2,611$1,862$1,307$907$357
30 years$3,440$2,466$1,734$1,200$819$310
31 years$3,293$2,331$1,617$1,102$741$269
32 years$3,156$2,206$1,508$1,013$670$234
33 years$3,027$2,089$1,408$931$606$203
34 years$2,905$1,980$1,316$857$549$177
35 years$2,791$1,878$1,230$789$497$153
36 years$2,684$1,782$1,151$726$451$133
37 years$2,583$1,693$1,077$669$408$116
38 years$2,487$1,609$1,009$617$370$101
39 years$2,396$1,530$945$569$336$88
40 years$2,310$1,456$886$525$304$76
41 years$2,229$1,386$831$484$276$66
42 years$2,152$1,320$779$447$251$58
43 years$2,078$1,257$731$412$227$50
44 years$2,008$1,198$686$381$206$44
45 years$1,941$1,143$644$352$187$38
46 years$1,878$1,090$605$325$170$33
47 years$1,817$1,040$569$300$155$29
48 years$1,759$993$534$277$140$25
49 years$1,703$948$502$256$127$22
50 years$1,650$906$472$237$116$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $1,690,000, adding $5,143 every year, while hoping to spend $26,565 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: 40/46/14 Blend
55$1,690,000$1,690,000$1,690,000$1,690,000
56$1,867,685$1,778,115$1,751,920$1,934,412
57$2,029,924$1,836,978$1,782,344$2,041,016
58$2,207,821$1,897,834$1,812,898$2,153,280
59$2,402,945$1,960,754$1,843,556$2,274,151
60$2,617,024$2,025,810$1,874,294$2,404,421
61$2,851,963$2,093,077$1,905,085$2,544,962
62$3,109,857$2,162,632$1,935,899$2,696,732
63$3,393,016$2,234,555$1,966,706$2,860,782
64$3,703,986$2,308,930$1,997,472$3,038,271
65$4,045,568$2,385,843$2,028,163$3,230,470
66$4,420,850$2,465,384$2,058,741$3,438,778
67$4,833,234$2,547,645$2,089,166$3,664,734
68$5,286,467$2,632,723$2,119,397$3,910,029
69$5,784,678$2,720,717$2,149,387$4,176,526
70$6,332,414$2,811,731$2,179,091$4,466,272
71$6,934,687$2,905,873$2,208,457$4,781,520
72$7,597,018$3,003,253$2,237,433$5,124,751
73$8,325,488$3,103,987$2,265,962$5,498,693
74$9,126,800$3,208,195$2,293,983$5,906,350
75$10,008,338$3,316,000$2,321,436$6,351,027
76$10,978,236$3,427,532$2,348,251$6,836,362
77$12,045,458$3,542,923$2,374,361$7,366,362
78$13,219,882$3,662,314$2,399,689$7,945,436
79$14,512,390$3,785,847$2,424,158$8,578,439
80$15,934,971$3,913,671$2,447,685$9,270,718
81$17,500,840$4,045,942$2,470,184$10,028,157
82$19,224,552$4,182,820$2,491,561$10,857,240
83$21,122,150$4,324,471$2,511,722$11,765,102
84$23,211,308$4,471,070$2,530,564$12,759,605
85$25,511,504$4,622,795$2,547,981$13,849,404
86$28,044,198$4,779,832$2,563,858$15,044,034
87$30,833,038$4,942,376$2,578,080$16,353,995
88$33,904,083$5,110,627$2,590,520$17,790,853
89$37,286,045$5,284,793$2,601,048$19,367,346
90$41,010,565$5,465,092$2,609,527$21,097,506
91$45,112,509$5,651,748$2,615,812$22,996,790
92$49,630,296$5,844,994$2,619,752$25,082,223
93$54,606,260$6,045,073$2,621,188$27,372,561
94$60,087,053$6,252,236$2,619,953$29,888,466
95$66,124,083$6,466,746$2,615,872$32,652,698
96$72,773,996$6,688,873$2,608,760$35,690,333
97$80,099,216$6,918,900$2,598,426$39,028,995
98$88,168,530$7,157,120$2,584,667$42,699,118
99$97,057,739$7,403,838$2,567,272$46,734,231
100$106,850,371$7,659,369$2,546,018$51,171,275