Can I retire at age 56 with 1,840,000?

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 $1,840,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.5%
1 years$151,945$150,592$149,272$147,983$146,724$143,997
2 years$75,221$73,820$72,462$71,146$69,869$67,132
3 years$49,649$48,242$46,888$45,584$44,328$41,666
4 years$36,866$35,463$34,122$32,840$31,615$29,048
5 years$29,198$27,803$26,480$25,225$24,033$21,570
6 years$24,087$22,704$21,400$20,172$19,017$16,659
7 years$20,438$19,066$17,783$16,585$15,466$13,214
8 years$17,703$16,343$15,082$13,913$12,830$10,684
9 years$15,577$14,230$12,990$11,850$10,805$8,763
10 years$13,877$12,543$11,325$10,215$9,206$7,267
11 years$12,487$11,166$9,970$8,890$7,918$6,079
12 years$11,329$10,022$8,848$7,798$6,861$5,120
13 years$10,350$9,057$7,905$6,884$5,983$4,337
14 years$9,512$8,233$7,103$6,111$5,245$3,691
15 years$8,786$7,521$6,413$5,450$4,618$3,153
16 years$8,152$6,900$5,814$4,880$4,081$2,702
17 years$7,593$6,355$5,291$4,385$3,619$2,322
18 years$7,096$5,872$4,830$3,951$3,218$2,000
19 years$6,652$5,442$4,422$3,570$2,868$1,725
20 years$6,254$5,057$4,058$3,234$2,562$1,491
21 years$5,893$4,711$3,732$2,935$2,292$1,291
22 years$5,566$4,397$3,440$2,668$2,055$1,119
23 years$5,268$4,113$3,176$2,430$1,845$970
24 years$4,995$3,853$2,938$2,216$1,658$843
25 years$4,744$3,616$2,721$2,024$1,492$732
26 years$4,513$3,398$2,523$1,851$1,344$637
27 years$4,299$3,198$2,343$1,694$1,212$554
28 years$4,101$3,014$2,178$1,552$1,093$482
29 years$3,917$2,843$2,027$1,423$987$420
30 years$3,745$2,685$1,888$1,306$892$366
31 years$3,585$2,538$1,760$1,200$806$319
32 years$3,436$2,402$1,642$1,103$729$278
33 years$3,295$2,274$1,533$1,014$660$242
34 years$3,163$2,156$1,433$933$598$211
35 years$3,039$2,045$1,340$859$541$184
36 years$2,922$1,941$1,253$791$491$161
37 years$2,812$1,843$1,173$729$445$140
38 years$2,708$1,752$1,098$672$403$122
39 years$2,609$1,666$1,029$619$365$107
40 years$2,516$1,585$965$571$332$93
41 years$2,427$1,509$904$527$301$81
42 years$2,343$1,437$848$486$273$71
43 years$2,262$1,369$796$449$248$62
44 years$2,186$1,305$747$415$225$54
45 years$2,114$1,244$702$383$204$47
46 years$2,044$1,187$659$354$185$41
47 years$1,978$1,133$619$327$168$36
48 years$1,915$1,081$582$302$153$31
49 years$1,854$1,033$547$279$139$27
50 years$1,796$986$514$258$126$24

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $1,840,000, adding $2,125 every year, while hoping to spend $27,349 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: 64/29/7 Blend
55$1,840,000$1,840,000$1,840,000$1,840,000
56$2,029,872$1,932,352$1,903,832$2,157,022
57$2,207,820$1,997,938$1,938,511$2,307,547
58$2,403,002$2,065,821$1,973,436$2,468,457
59$2,617,147$2,136,085$2,008,584$2,643,484
60$2,852,159$2,208,817$2,043,935$2,833,997
61$3,110,137$2,284,106$2,079,465$3,041,500
62$3,393,390$2,362,047$2,115,147$3,267,650
63$3,704,466$2,442,737$2,150,953$3,514,270
64$4,046,166$2,526,277$2,186,856$3,783,366
65$4,421,582$2,612,771$2,222,822$4,077,146
66$4,834,115$2,702,328$2,258,818$4,398,042
67$5,287,515$2,795,062$2,294,808$4,748,729
68$5,785,911$2,891,090$2,330,755$5,132,154
69$6,333,855$2,990,534$2,366,616$5,551,559
70$6,936,359$3,093,521$2,402,348$6,010,517
71$7,598,946$3,200,183$2,437,906$6,512,959
72$8,327,703$3,310,656$2,473,240$7,063,215
73$9,129,333$3,425,082$2,508,297$7,666,054
74$10,011,224$3,543,610$2,543,024$8,326,727
75$10,981,515$3,666,393$2,577,362$9,051,017
76$12,049,173$3,793,590$2,611,247$9,845,292
77$13,224,080$3,925,368$2,644,615$10,716,568
78$14,517,124$4,061,898$2,677,397$11,672,571
79$15,940,299$4,203,360$2,709,519$12,721,810
80$17,506,826$4,349,941$2,740,904$13,873,660
81$19,231,267$4,501,833$2,771,469$15,138,445
82$21,129,672$4,659,238$2,801,129$16,527,540
83$23,219,723$4,822,366$2,829,792$18,053,473
84$25,520,907$4,991,434$2,857,362$19,730,047
85$28,054,694$5,166,669$2,883,738$21,572,466
86$30,844,743$5,348,305$2,908,813$23,597,480
87$33,917,124$5,536,589$2,932,475$25,823,543
88$37,300,563$5,731,775$2,954,606$28,270,984
89$41,026,716$5,934,127$2,975,081$30,962,200
90$45,130,463$6,143,922$2,993,768$33,921,867
91$49,650,242$6,361,446$3,010,531$37,177,171
92$54,628,407$6,586,997$3,025,225$40,758,064
93$60,111,632$6,820,886$3,037,696$44,697,548
94$66,151,345$7,063,437$3,047,786$49,031,983
95$72,804,221$7,314,985$3,055,326$53,801,429
96$80,132,713$7,575,879$3,060,140$59,050,026
97$88,205,637$7,846,486$3,062,043$64,826,408
98$97,098,831$8,127,182$3,060,840$71,184,163
99$106,895,862$8,418,364$3,056,328$78,182,334
100$117,688,817$8,720,442$3,048,293$85,885,980