Can I retire at age 56 with 1,670,000?

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 $1,670,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13%
1 years$137,907$136,679$135,480$134,310$133,168$131,504
2 years$68,271$66,999$65,767$64,572$63,413$61,739
3 years$45,062$43,785$42,556$41,372$40,232$38,599
4 years$33,460$32,186$30,970$29,806$28,694$27,115
5 years$26,500$25,235$24,034$22,894$21,813$20,293
6 years$21,862$20,606$19,423$18,309$17,260$15,801
7 years$18,550$17,305$16,140$15,052$14,037$12,639
8 years$16,068$14,833$13,688$12,627$11,645$10,308
9 years$14,138$12,915$11,790$10,756$9,807$8,531
10 years$12,595$11,384$10,279$9,271$8,356$7,139
11 years$11,333$10,135$9,049$8,069$7,186$6,028
12 years$10,282$9,096$8,031$7,077$6,227$5,127
13 years$9,394$8,220$7,175$6,248$5,430$4,386
14 years$8,633$7,472$6,447$5,547$4,760$3,770
15 years$7,975$6,826$5,821$4,947$4,191$3,254
16 years$7,399$6,263$5,277$4,429$3,704$2,818
17 years$6,891$5,768$4,802$3,980$3,284$2,447
18 years$6,441$5,330$4,384$3,586$2,920$2,130
19 years$6,038$4,939$4,013$3,241$2,603$1,859
20 years$5,676$4,590$3,683$2,935$2,325$1,625
21 years$5,349$4,275$3,388$2,664$2,081$1,422
22 years$5,052$3,991$3,122$2,422$1,865$1,247
23 years$4,781$3,733$2,883$2,206$1,674$1,094
24 years$4,533$3,497$2,666$2,012$1,505$961
25 years$4,306$3,282$2,469$1,837$1,354$845
26 years$4,096$3,084$2,290$1,680$1,220$744
27 years$3,902$2,903$2,127$1,538$1,100$655
28 years$3,722$2,735$1,977$1,409$992$577
29 years$3,555$2,580$1,840$1,292$896$509
30 years$3,399$2,437$1,714$1,186$810$449
31 years$3,254$2,304$1,598$1,089$732$396
32 years$3,118$2,180$1,491$1,001$662$349
33 years$2,991$2,064$1,392$920$599$308
34 years$2,871$1,957$1,300$847$542$272
35 years$2,758$1,856$1,216$779$491$241
36 years$2,652$1,761$1,137$718$445$213
37 years$2,552$1,673$1,065$661$403$188
38 years$2,458$1,590$997$610$366$166
39 years$2,368$1,512$934$562$332$147
40 years$2,283$1,438$875$518$301$130
41 years$2,203$1,369$821$478$273$115
42 years$2,126$1,304$770$441$248$101
43 years$2,053$1,242$723$408$225$90
44 years$1,984$1,184$678$376$204$79
45 years$1,918$1,129$637$347$185$70
46 years$1,855$1,077$598$321$168$62
47 years$1,795$1,028$562$297$153$55
48 years$1,738$981$528$274$139$49
49 years$1,683$937$496$253$126$43
50 years$1,631$895$467$234$114$38

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $1,670,000, adding $5,750 every year, while hoping to spend $27,875 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: 67/14/19 Blend
55$1,670,000$1,670,000$1,670,000$1,670,000
56$1,846,271$1,757,761$1,731,876$1,960,917
57$2,004,932$1,814,233$1,760,235$2,094,827
58$2,178,842$1,872,537$1,788,610$2,237,443
59$2,369,527$1,932,735$1,816,972$2,392,722
60$2,578,668$1,994,888$1,845,290$2,561,908
61$2,808,116$2,059,061$1,873,531$2,746,373
62$3,059,910$2,125,321$1,901,660$2,947,623
63$3,336,297$2,193,738$1,929,641$3,167,321
64$3,639,749$2,264,381$1,957,434$3,407,296
65$3,972,992$2,337,324$1,984,997$3,669,563
66$4,339,029$2,412,645$2,012,286$3,956,341
67$4,741,167$2,490,422$2,039,255$4,270,074
68$5,183,049$2,570,735$2,065,853$4,613,454
69$5,668,689$2,653,670$2,092,028$4,989,448
70$6,202,508$2,739,313$2,117,724$5,401,323
71$6,789,379$2,827,754$2,142,883$5,852,676
72$7,434,669$2,919,087$2,167,442$6,347,472
73$8,144,290$3,013,408$2,191,336$6,890,079
74$8,924,758$3,110,815$2,214,497$7,485,309
75$9,783,251$3,211,413$2,236,850$8,138,461
76$10,727,678$3,315,307$2,258,320$8,855,376
77$11,766,752$3,422,608$2,278,825$9,642,488
78$12,910,075$3,533,430$2,298,279$10,506,886
79$14,168,224$3,647,890$2,316,593$11,456,380
80$15,552,857$3,766,110$2,333,673$12,499,576
81$17,076,815$3,888,216$2,349,417$13,645,955
82$18,754,250$4,014,339$2,363,723$14,905,964
83$20,600,755$4,144,613$2,376,480$16,291,115
84$22,633,512$4,279,179$2,387,571$17,814,091
85$24,871,451$4,418,179$2,396,875$19,488,868
86$27,335,433$4,561,764$2,404,265$21,330,844
87$30,048,445$4,710,088$2,409,606$23,356,989
88$33,035,815$4,863,312$2,412,756$25,585,998
89$36,325,454$5,021,600$2,413,569$28,038,475
90$39,948,115$5,185,123$2,411,889$30,737,121
91$43,937,688$5,354,059$2,407,552$33,706,953
92$48,331,516$5,528,591$2,400,389$36,975,536
93$53,170,748$5,708,910$2,390,219$40,573,244
94$58,500,728$5,895,210$2,376,855$44,533,550
95$64,371,423$6,087,696$2,360,100$48,893,338
96$70,837,893$6,286,578$2,339,748$53,693,250
97$77,960,811$6,492,073$2,315,583$58,978,075
98$85,807,036$6,704,408$2,287,378$64,797,165
99$94,450,245$6,923,814$2,254,896$71,204,907
100$103,971,624$7,150,535$2,217,889$78,261,232