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%14.1%
1 years$137,907$136,679$135,480$134,310$133,168$130,908
2 years$68,271$66,999$65,767$64,572$63,413$61,143
3 years$45,062$43,785$42,556$41,372$40,232$38,023
4 years$33,460$32,186$30,970$29,806$28,694$26,562
5 years$26,500$25,235$24,034$22,894$21,813$19,765
6 years$21,862$20,606$19,423$18,309$17,260$15,298
7 years$18,550$17,305$16,140$15,052$14,037$12,162
8 years$16,068$14,833$13,688$12,627$11,645$9,857
9 years$14,138$12,915$11,790$10,756$9,807$8,104
10 years$12,595$11,384$10,279$9,271$8,356$6,737
11 years$11,333$10,135$9,049$8,069$7,186$5,650
12 years$10,282$9,096$8,031$7,077$6,227$4,771
13 years$9,394$8,220$7,175$6,248$5,430$4,052
14 years$8,633$7,472$6,447$5,547$4,760$3,457
15 years$7,975$6,826$5,821$4,947$4,191$2,962
16 years$7,399$6,263$5,277$4,429$3,704$2,545
17 years$6,891$5,768$4,802$3,980$3,284$2,193
18 years$6,441$5,330$4,384$3,586$2,920$1,894
19 years$6,038$4,939$4,013$3,241$2,603$1,640
20 years$5,676$4,590$3,683$2,935$2,325$1,421
21 years$5,349$4,275$3,388$2,664$2,081$1,234
22 years$5,052$3,991$3,122$2,422$1,865$1,073
23 years$4,781$3,733$2,883$2,206$1,674$933
24 years$4,533$3,497$2,666$2,012$1,505$813
25 years$4,306$3,282$2,469$1,837$1,354$709
26 years$4,096$3,084$2,290$1,680$1,220$618
27 years$3,902$2,903$2,127$1,538$1,100$539
28 years$3,722$2,735$1,977$1,409$992$471
29 years$3,555$2,580$1,840$1,292$896$412
30 years$3,399$2,437$1,714$1,186$810$360
31 years$3,254$2,304$1,598$1,089$732$315
32 years$3,118$2,180$1,491$1,001$662$275
33 years$2,991$2,064$1,392$920$599$241
34 years$2,871$1,957$1,300$847$542$211
35 years$2,758$1,856$1,216$779$491$184
36 years$2,652$1,761$1,137$718$445$161
37 years$2,552$1,673$1,065$661$403$141
38 years$2,458$1,590$997$610$366$124
39 years$2,368$1,512$934$562$332$108
40 years$2,283$1,438$875$518$301$95
41 years$2,203$1,369$821$478$273$83
42 years$2,126$1,304$770$441$248$73
43 years$2,053$1,242$723$408$225$64
44 years$1,984$1,184$678$376$204$56
45 years$1,918$1,129$637$347$185$49
46 years$1,855$1,077$598$321$168$43
47 years$1,795$1,028$562$297$153$38
48 years$1,738$981$528$274$139$33
49 years$1,683$937$496$253$126$29
50 years$1,631$895$467$234$114$25

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 $6,729 every year, while hoping to spend $51,500 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: 47/42/11 Blend
55$1,670,000$1,670,000$1,670,000$1,670,000
56$1,847,281$1,758,771$1,732,886$1,928,162
57$1,980,908$1,790,155$1,736,142$2,016,028
58$2,126,439$1,821,351$1,737,781$2,105,459
59$2,285,034$1,852,295$1,737,695$2,201,354
60$2,457,968$1,882,919$1,735,769$2,304,330
61$2,646,648$1,913,149$1,731,884$2,415,069
62$2,852,619$1,942,906$1,725,915$2,534,322
63$3,077,584$1,972,106$1,717,731$2,662,920
64$3,323,416$2,000,658$1,707,193$2,801,778
65$3,592,178$2,028,464$1,694,158$2,951,904
66$3,886,142$2,055,420$1,678,474$3,114,413
67$4,207,808$2,081,415$1,659,982$3,290,532
68$4,559,931$2,106,331$1,638,518$3,481,618
69$4,945,542$2,130,039$1,613,907$3,689,164
70$5,367,981$2,152,405$1,585,966$3,914,821
71$5,830,926$2,173,284$1,554,507$4,160,407
72$6,338,427$2,192,521$1,519,329$4,427,931
73$6,894,944$2,209,952$1,480,225$4,719,606
74$7,505,391$2,225,403$1,436,975$5,037,876
75$8,175,179$2,238,686$1,389,352$5,385,435
76$8,910,269$2,249,603$1,337,117$5,765,257
77$9,717,227$2,257,944$1,280,020$6,180,621
78$10,603,285$2,263,484$1,217,802$6,635,145
79$11,576,410$2,265,985$1,150,188$7,132,820
80$12,645,379$2,265,193$1,076,895$7,678,047
81$13,819,860$2,260,840$997,624$8,275,683
82$15,110,505$2,252,641$912,063$8,931,082
83$16,529,048$2,240,292$819,889$9,650,154
84$18,088,416$2,223,472$720,761$10,439,412
85$19,802,853$2,201,839$614,324$11,306,044
86$21,688,048$2,175,034$500,208$12,257,976
87$23,761,290$2,142,672$378,027$13,303,949
88$26,041,627$2,104,348$247,375$14,453,605
89$28,550,043$2,059,631$107,833$15,717,575
90$31,309,662$2,008,067$0$17,107,585
91$34,345,958$1,949,173$0$18,641,388
92$37,687,001$1,882,439$0$20,342,240
93$41,363,721$1,807,323$0$22,213,254
94$45,410,194$1,723,256$0$24,271,827
95$49,863,969$1,629,631$0$26,537,141
96$54,766,421$1,525,810$0$29,030,343
97$60,163,137$1,411,116$0$31,774,746
98$66,104,350$1,284,833$0$34,796,053
99$72,645,411$1,146,207$0$38,122,599
100$79,847,310$994,439$0$41,785,621