Can I retire at age 56 with 1,700,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $1,700,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.9%
1 years$140,384$139,134$137,914$136,723$135,560$134,481
2 years$69,497$68,203$66,949$65,732$64,553$63,464
3 years$45,871$44,571$43,320$42,115$40,955$39,892
4 years$34,061$32,765$31,526$30,342$29,209$28,179
5 years$26,976$25,688$24,465$23,305$22,204$21,211
6 years$22,255$20,976$19,772$18,637$17,570$16,613
7 years$18,883$17,616$16,430$15,323$14,289$13,371
8 years$16,356$15,100$13,934$12,854$11,854$10,974
9 years$14,392$13,147$12,002$10,949$9,983$9,140
10 years$12,821$11,589$10,463$9,438$8,506$7,700
11 years$11,537$10,317$9,212$8,214$7,315$6,547
12 years$10,467$9,260$8,175$7,205$6,339$5,606
13 years$9,563$8,368$7,304$6,361$5,528$4,830
14 years$8,788$7,606$6,563$5,646$4,846$4,182
15 years$8,118$6,949$5,925$5,035$4,267$3,637
16 years$7,532$6,375$5,372$4,509$3,771$3,173
17 years$7,015$5,871$4,888$4,051$3,343$2,777
18 years$6,556$5,425$4,462$3,651$2,973$2,437
19 years$6,146$5,028$4,085$3,299$2,650$2,143
20 years$5,778$4,672$3,749$2,988$2,367$1,888
21 years$5,445$4,352$3,448$2,712$2,118$1,666
22 years$5,142$4,063$3,178$2,465$1,899$1,473
23 years$4,867$3,800$2,935$2,245$1,704$1,304
24 years$4,615$3,560$2,714$2,048$1,532$1,155
25 years$4,383$3,341$2,514$1,870$1,378$1,024
26 years$4,169$3,140$2,331$1,710$1,242$909
27 years$3,972$2,955$2,165$1,565$1,119$808
28 years$3,789$2,784$2,013$1,434$1,010$718
29 years$3,619$2,627$1,873$1,315$912$638
30 years$3,460$2,481$1,744$1,207$824$568
31 years$3,313$2,345$1,626$1,108$745$506
32 years$3,174$2,219$1,517$1,019$674$451
33 years$3,044$2,101$1,417$937$610$401
34 years$2,923$1,992$1,324$862$552$358
35 years$2,808$1,889$1,238$793$500$319
36 years$2,700$1,793$1,158$731$453$284
37 years$2,598$1,703$1,084$673$411$254
38 years$2,502$1,618$1,015$621$372$226
39 years$2,411$1,539$951$572$338$202
40 years$2,324$1,464$891$528$306$180
41 years$2,242$1,394$836$487$278$161
42 years$2,164$1,327$784$449$252$144
43 years$2,090$1,265$736$415$229$128
44 years$2,020$1,206$690$383$208$114
45 years$1,953$1,150$648$354$189$102
46 years$1,889$1,097$609$327$171$91
47 years$1,828$1,047$572$302$155$82
48 years$1,769$999$538$279$141$73
49 years$1,713$954$505$258$128$65
50 years$1,660$911$475$238$116$58

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $1,700,000, adding $4,176 every year, while hoping to spend $46,108 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: 87/7/6 Blend
55$1,700,000$1,700,000$1,700,000$1,700,000
56$1,877,708$1,787,608$1,761,258$2,040,307
57$2,020,175$1,826,142$1,771,201$2,185,369
58$2,175,629$1,865,019$1,779,932$2,337,950
59$2,345,345$1,904,207$1,787,362$2,504,153
60$2,530,728$1,943,671$1,793,397$2,685,314
61$2,733,325$1,983,372$1,797,937$2,882,907
62$2,954,836$2,023,270$1,800,881$3,098,556
63$3,197,137$2,063,318$1,802,118$3,334,047
64$3,462,291$2,103,467$1,801,535$3,591,349
65$3,752,572$2,143,663$1,799,013$3,872,628
66$4,070,480$2,183,849$1,794,426$4,180,272
67$4,418,772$2,223,960$1,787,642$4,516,911
68$4,800,482$2,263,930$1,778,524$4,885,440
69$5,218,953$2,303,685$1,766,926$5,289,049
70$5,677,866$2,343,145$1,752,698$5,731,254
71$6,181,276$2,382,226$1,735,681$6,215,925
72$6,733,648$2,420,837$1,715,708$6,747,328
73$7,339,901$2,458,879$1,692,605$7,330,159
74$8,005,453$2,496,247$1,666,190$7,969,596
75$8,736,274$2,532,827$1,636,272$8,671,340
76$9,538,937$2,568,500$1,602,651$9,441,675
77$10,420,687$2,603,134$1,565,117$10,287,522
78$11,389,502$2,636,592$1,523,453$11,216,507
79$12,454,172$2,668,726$1,477,430$12,237,033
80$13,624,380$2,699,376$1,426,807$13,358,359
81$14,910,796$2,728,375$1,371,334$14,590,684
82$16,325,174$2,755,542$1,310,750$15,945,249
83$17,880,463$2,780,685$1,244,781$17,434,438
84$19,590,930$2,803,598$1,173,141$19,071,897
85$21,472,294$2,824,064$1,095,531$20,872,663
86$23,541,875$2,841,850$1,011,638$22,853,304
87$25,818,755$2,856,709$921,136$25,032,076
88$28,323,958$2,868,377$823,684$27,429,097
89$31,080,649$2,876,576$718,926$30,066,534
90$34,114,355$2,881,007$606,489$32,968,815
91$37,453,197$2,881,355$485,985$36,162,855
92$41,128,166$2,877,284$357,008$39,678,316
93$45,173,406$2,868,438$219,135$43,547,881
94$49,626,541$2,854,439$71,923$47,807,567
95$54,529,027$2,834,886$0$52,497,063
96$59,926,545$2,809,353$0$57,665,557
97$65,869,430$2,777,388$0$63,361,058
98$72,413,146$2,738,514$0$69,632,098
99$79,618,810$2,692,224$0$76,537,234
100$87,553,766$2,637,981$0$84,140,994