Can I retire at age 56 with 1,930,000?

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 $1,930,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.9%
1 years$159,378$157,958$156,573$155,221$153,901$149,574
2 years$78,900$77,430$76,006$74,625$73,286$68,960
3 years$52,077$50,602$49,181$47,813$46,496$42,306
4 years$38,669$37,198$35,791$34,447$33,161$29,139
5 years$30,626$29,163$27,775$26,458$25,209$21,366
6 years$25,265$23,814$22,447$21,159$19,947$16,287
7 years$21,438$19,999$18,653$17,396$16,222$12,745
8 years$18,569$17,143$15,819$14,593$13,458$10,162
9 years$16,339$14,926$13,625$12,430$11,333$8,215
10 years$14,555$13,156$11,879$10,715$9,657$6,712
11 years$13,097$11,712$10,458$9,325$8,305$5,530
12 years$11,883$10,512$9,281$8,179$7,197$4,585
13 years$10,857$9,500$8,292$7,221$6,276$3,822
14 years$9,977$8,635$7,451$6,410$5,501$3,200
15 years$9,216$7,889$6,727$5,717$4,844$2,688
16 years$8,551$7,238$6,099$5,119$4,281$2,264
17 years$7,964$6,666$5,550$4,599$3,796$1,912
18 years$7,443$6,159$5,066$4,145$3,375$1,618
19 years$6,978$5,708$4,638$3,745$3,008$1,372
20 years$6,559$5,305$4,256$3,392$2,687$1,164
21 years$6,181$4,941$3,915$3,078$2,405$989
22 years$5,838$4,612$3,608$2,799$2,155$841
23 years$5,525$4,314$3,332$2,549$1,935$716
24 years$5,239$4,042$3,081$2,325$1,739$610
25 years$4,976$3,793$2,854$2,123$1,565$520
26 years$4,733$3,565$2,647$1,941$1,410$444
27 years$4,509$3,355$2,458$1,777$1,271$379
28 years$4,302$3,161$2,285$1,628$1,147$323
29 years$4,108$2,982$2,126$1,493$1,035$276
30 years$3,929$2,816$1,980$1,370$936$236
31 years$3,761$2,662$1,846$1,258$846$201
32 years$3,604$2,519$1,723$1,157$765$172
33 years$3,456$2,386$1,608$1,064$692$147
34 years$3,318$2,261$1,503$979$627$126
35 years$3,188$2,145$1,405$901$568$107
36 years$3,065$2,036$1,314$830$515$92
37 years$2,950$1,933$1,230$764$466$79
38 years$2,840$1,837$1,152$705$423$67
39 years$2,737$1,747$1,079$650$383$57
40 years$2,639$1,662$1,012$599$348$49
41 years$2,546$1,582$949$553$315$42
42 years$2,457$1,507$890$510$286$36
43 years$2,373$1,436$835$471$260$31
44 years$2,293$1,369$784$435$236$26
45 years$2,217$1,305$736$402$214$22
46 years$2,144$1,245$691$371$194$19
47 years$2,075$1,188$649$343$176$16
48 years$2,008$1,134$610$317$160$14
49 years$1,945$1,083$574$293$146$12
50 years$1,884$1,035$539$271$132$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $1,930,000, adding $4,308 every year, while hoping to spend $55,386 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: 45/27/28 Blend
55$1,930,000$1,930,000$1,930,000$1,930,000
56$2,131,304$2,029,014$1,999,099$2,209,786
57$2,289,766$2,069,505$2,007,138$2,306,504
58$2,462,536$2,110,124$2,013,591$2,405,679
59$2,651,013$2,150,819$2,018,345$2,512,178
60$2,856,740$2,191,533$2,021,283$2,626,715
61$3,081,414$2,232,204$2,022,282$2,750,079
62$3,326,903$2,272,767$2,021,213$2,883,140
63$3,595,264$2,313,149$2,017,941$3,026,860
64$3,888,762$2,353,275$2,012,323$3,182,298
65$4,209,891$2,393,060$2,004,211$3,350,624
66$4,561,395$2,432,416$1,993,447$3,533,130
67$4,946,299$2,471,246$1,979,870$3,731,241
68$5,367,932$2,509,447$1,963,306$3,946,528
69$5,829,961$2,546,909$1,943,576$4,180,728
70$6,336,423$2,583,514$1,920,492$4,435,755
71$6,891,766$2,619,134$1,893,856$4,713,721
72$7,500,888$2,653,634$1,863,463$5,016,957
73$8,169,185$2,686,869$1,829,095$5,348,036
74$8,902,600$2,718,683$1,790,527$5,709,795
75$9,707,677$2,748,911$1,747,523$6,105,365
76$10,591,629$2,777,376$1,699,833$6,538,201
77$11,562,397$2,803,889$1,647,199$7,012,112
78$12,628,732$2,828,250$1,589,351$7,531,304
79$13,800,273$2,850,245$1,526,004$8,100,413
80$15,087,638$2,869,644$1,456,863$8,724,555
81$16,502,526$2,886,206$1,381,616$9,409,373
82$18,057,825$2,899,671$1,299,942$10,161,093
83$19,767,734$2,909,766$1,211,501$10,986,579
84$21,647,896$2,916,197$1,115,939$11,893,404
85$23,715,546$2,918,655$1,012,888$12,889,921
86$25,989,672$2,916,810$901,960$13,985,340
87$28,491,196$2,910,312$782,754$15,189,822
88$31,243,169$2,898,788$654,847$16,514,570
89$34,270,988$2,881,844$517,800$17,971,941
90$37,602,637$2,859,063$371,154$19,575,560
91$41,268,948$2,829,999$214,430$21,340,453
92$45,303,894$2,794,182$47,127$23,283,189
93$49,744,909$2,751,114$0$25,422,040
94$54,633,237$2,700,267$0$27,816,414
95$60,014,327$2,641,080$0$30,466,841
96$65,938,256$2,572,960$0$33,383,892
97$72,460,204$2,495,280$0$36,594,750
98$79,640,971$2,407,376$0$40,129,378
99$87,547,557$2,308,544$0$44,020,799
100$96,253,785$2,198,040$0$48,305,411