Can I retire at age 56 with 1,680,000?

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 $1,680,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.6%
1 years$138,733$137,497$136,291$135,115$133,966$130,357
2 years$68,680$67,401$66,161$64,959$63,793$60,183
3 years$45,332$44,047$42,810$41,620$40,473$36,975
4 years$33,660$32,379$31,155$29,985$28,866$25,506
5 years$26,659$25,386$24,178$23,031$21,943$18,732
6 years$21,993$20,729$19,539$18,418$17,363$14,302
7 years$18,661$17,408$16,237$15,143$14,121$11,211
8 years$16,164$14,922$13,770$12,703$11,714$8,955
9 years$14,222$12,993$11,860$10,820$9,865$7,252
10 years$12,670$11,452$10,340$9,327$8,406$5,937
11 years$11,401$10,195$9,103$8,117$7,229$4,900
12 years$10,344$9,151$8,079$7,120$6,265$4,071
13 years$9,450$8,270$7,218$6,286$5,463$3,401
14 years$8,685$7,517$6,485$5,580$4,789$2,853
15 years$8,022$6,867$5,855$4,976$4,216$2,401
16 years$7,443$6,300$5,309$4,456$3,726$2,028
17 years$6,932$5,802$4,831$4,003$3,304$1,716
18 years$6,479$5,361$4,410$3,608$2,938$1,455
19 years$6,074$4,969$4,037$3,260$2,619$1,236
20 years$5,710$4,617$3,705$2,953$2,339$1,052
21 years$5,381$4,301$3,408$2,680$2,093$896
22 years$5,082$4,015$3,141$2,436$1,876$764
23 years$4,810$3,755$2,900$2,219$1,684$652
24 years$4,560$3,518$2,682$2,024$1,514$557
25 years$4,331$3,302$2,484$1,848$1,362$476
26 years$4,120$3,103$2,304$1,690$1,227$407
27 years$3,925$2,920$2,139$1,547$1,106$348
28 years$3,744$2,752$1,989$1,417$998$298
29 years$3,576$2,596$1,851$1,300$901$255
30 years$3,420$2,452$1,724$1,193$814$218
31 years$3,274$2,318$1,607$1,095$736$187
32 years$3,137$2,193$1,500$1,007$666$160
33 years$3,009$2,077$1,400$926$603$137
34 years$2,888$1,968$1,308$852$546$117
35 years$2,775$1,867$1,223$784$494$101
36 years$2,668$1,772$1,144$722$448$86
37 years$2,567$1,683$1,071$665$406$74
38 years$2,472$1,599$1,003$613$368$63
39 years$2,382$1,521$940$565$334$54
40 years$2,297$1,447$881$522$303$47
41 years$2,216$1,377$826$481$275$40
42 years$2,139$1,312$775$444$249$34
43 years$2,066$1,250$727$410$226$29
44 years$1,996$1,191$682$379$205$25
45 years$1,930$1,136$641$350$186$22
46 years$1,866$1,084$602$323$169$19
47 years$1,806$1,034$565$298$154$16
48 years$1,748$987$531$276$140$14
49 years$1,693$943$499$255$127$12
50 years$1,640$901$469$235$115$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $1,680,000, adding $6,953 every year, while hoping to spend $44,310 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: 70/11/19 Blend
55$1,680,000$1,680,000$1,680,000$1,680,000
56$1,858,532$1,769,492$1,743,452$1,979,610
57$2,000,957$1,809,052$1,754,712$2,100,769
58$2,156,424$1,849,065$1,764,864$2,227,430
59$2,326,217$1,889,506$1,773,825$2,364,962
60$2,511,748$1,930,350$1,781,506$2,514,434
61$2,714,574$1,971,564$1,787,814$2,677,023
62$2,936,407$2,013,117$1,792,652$2,854,030
63$3,179,132$2,054,972$1,795,918$3,046,884
64$3,444,827$2,097,089$1,797,504$3,257,161
65$3,735,778$2,139,425$1,797,299$3,486,598
66$4,054,502$2,181,931$1,795,183$3,737,110
67$4,403,773$2,224,557$1,791,033$4,010,804
68$4,786,644$2,267,247$1,784,719$4,310,006
69$5,206,480$2,309,940$1,776,105$4,637,275
70$5,666,983$2,352,570$1,765,048$4,995,435
71$6,172,236$2,395,066$1,751,397$5,387,595
72$6,726,732$2,437,353$1,734,997$5,817,183
73$7,335,422$2,479,346$1,715,682$6,287,975
74$8,003,759$2,520,958$1,693,282$6,804,136
75$8,737,750$2,562,092$1,667,614$7,370,253
76$9,544,013$2,602,647$1,638,492$7,991,381
77$10,429,837$2,642,512$1,605,716$8,673,092
78$11,403,255$2,681,569$1,569,082$9,421,529
79$12,473,112$2,719,692$1,528,371$10,243,459
80$13,649,157$2,756,744$1,483,359$11,146,341
81$14,942,127$2,792,581$1,433,808$12,138,395
82$16,363,855$2,827,048$1,379,471$13,228,683
83$17,927,374$2,859,979$1,320,089$14,427,189
84$19,647,045$2,891,197$1,255,392$15,744,918
85$21,538,692$2,920,514$1,185,096$17,193,999
86$23,619,748$2,947,729$1,108,906$18,787,800
87$25,909,422$2,972,627$1,026,513$20,541,051
88$28,428,876$2,994,979$937,595$22,469,990
89$31,201,431$3,014,542$841,814$24,592,511
90$34,252,779$3,031,057$738,817$26,928,335
91$37,611,233$3,044,249$628,237$29,499,198
92$41,307,986$3,053,824$509,690$32,329,054
93$45,377,410$3,059,472$382,775$35,444,304
94$49,857,380$3,060,860$247,072$38,874,043
95$54,789,629$3,057,638$102,145$42,650,338
96$60,220,140$3,049,432$0$46,808,529
97$66,199,587$3,035,846$0$51,398,213
98$72,783,801$3,016,459$0$56,474,458
99$80,034,310$2,990,826$0$62,063,943
100$88,018,906$2,958,474$0$68,218,909