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

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 $1,700,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.1%
1 years$140,384$139,134$137,914$136,723$135,560$133,811
2 years$69,497$68,203$66,949$65,732$64,553$62,793
3 years$45,871$44,571$43,320$42,115$40,955$39,239
4 years$34,061$32,765$31,526$30,342$29,209$27,551
5 years$26,976$25,688$24,465$23,305$22,204$20,608
6 years$22,255$20,976$19,772$18,637$17,570$16,037
7 years$18,883$17,616$16,430$15,323$14,289$12,821
8 years$16,356$15,100$13,934$12,854$11,854$10,451
9 years$14,392$13,147$12,002$10,949$9,983$8,643
10 years$12,821$11,589$10,463$9,438$8,506$7,229
11 years$11,537$10,317$9,212$8,214$7,315$6,101
12 years$10,467$9,260$8,175$7,205$6,339$5,185
13 years$9,563$8,368$7,304$6,361$5,528$4,433
14 years$8,788$7,606$6,563$5,646$4,846$3,808
15 years$8,118$6,949$5,925$5,035$4,267$3,284
16 years$7,532$6,375$5,372$4,509$3,771$2,842
17 years$7,015$5,871$4,888$4,051$3,343$2,466
18 years$6,556$5,425$4,462$3,651$2,973$2,146
19 years$6,146$5,028$4,085$3,299$2,650$1,871
20 years$5,778$4,672$3,749$2,988$2,367$1,634
21 years$5,445$4,352$3,448$2,712$2,118$1,429
22 years$5,142$4,063$3,178$2,465$1,899$1,252
23 years$4,867$3,800$2,935$2,245$1,704$1,098
24 years$4,615$3,560$2,714$2,048$1,532$964
25 years$4,383$3,341$2,514$1,870$1,378$847
26 years$4,169$3,140$2,331$1,710$1,242$744
27 years$3,972$2,955$2,165$1,565$1,119$655
28 years$3,789$2,784$2,013$1,434$1,010$577
29 years$3,619$2,627$1,873$1,315$912$508
30 years$3,460$2,481$1,744$1,207$824$448
31 years$3,313$2,345$1,626$1,108$745$395
32 years$3,174$2,219$1,517$1,019$674$348
33 years$3,044$2,101$1,417$937$610$307
34 years$2,923$1,992$1,324$862$552$271
35 years$2,808$1,889$1,238$793$500$239
36 years$2,700$1,793$1,158$731$453$211
37 years$2,598$1,703$1,084$673$411$186
38 years$2,502$1,618$1,015$621$372$165
39 years$2,411$1,539$951$572$338$145
40 years$2,324$1,464$891$528$306$128
41 years$2,242$1,394$836$487$278$113
42 years$2,164$1,327$784$449$252$100
43 years$2,090$1,265$736$415$229$89
44 years$2,020$1,206$690$383$208$78
45 years$1,953$1,150$648$354$189$69
46 years$1,889$1,097$609$327$171$61
47 years$1,828$1,047$572$302$155$54
48 years$1,769$999$538$279$141$48
49 years$1,713$954$505$258$128$42
50 years$1,660$911$475$238$116$37

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 $2,853 every year, while hoping to spend $24,224 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: 59/12/29 Blend
55$1,700,000$1,700,000$1,700,000$1,700,000
56$1,876,343$1,786,243$1,759,893$1,972,056
57$2,041,956$1,847,995$1,793,075$2,099,629
58$2,223,649$1,911,960$1,826,557$2,235,911
59$2,423,038$1,978,223$1,860,323$2,384,074
60$2,641,900$2,046,868$1,894,357$2,545,281
61$2,882,196$2,117,987$1,928,639$2,720,811
62$3,146,082$2,191,670$1,963,151$2,912,074
63$3,435,937$2,268,017$1,997,871$3,120,620
64$3,754,379$2,347,126$2,032,776$3,348,159
65$4,104,294$2,429,103$2,067,842$3,596,571
66$4,488,859$2,514,056$2,103,042$3,867,931
67$4,911,576$2,602,099$2,138,348$4,164,519
68$5,376,304$2,693,349$2,173,729$4,488,850
69$5,887,292$2,787,928$2,209,154$4,843,694
70$6,449,223$2,885,963$2,244,588$5,232,100
71$7,067,255$2,987,587$2,279,993$5,657,429
72$7,747,074$3,092,937$2,315,332$6,123,381
73$8,494,941$3,202,157$2,350,561$6,634,035
74$9,317,757$3,315,395$2,385,637$7,193,881
75$10,223,125$3,432,806$2,420,513$7,807,870
76$11,219,422$3,554,551$2,455,138$8,481,453
77$12,315,877$3,680,798$2,489,459$9,220,635
78$13,522,661$3,811,722$2,523,420$10,032,036
79$14,850,980$3,947,504$2,556,962$10,922,946
80$16,313,181$4,088,333$2,590,022$11,901,397
81$17,922,869$4,234,405$2,622,532$12,976,241
82$19,695,037$4,385,926$2,654,422$14,157,230
83$21,646,203$4,543,109$2,685,617$15,455,109
84$23,794,570$4,706,175$2,716,039$16,881,716
85$26,160,194$4,875,356$2,745,605$18,450,098
86$28,765,177$5,050,892$2,774,226$20,174,627
87$31,633,873$5,233,033$2,801,810$22,071,142
88$34,793,117$5,422,041$2,828,260$24,157,095
89$38,272,480$5,618,186$2,853,472$26,451,716
90$42,104,549$5,821,753$2,877,338$28,976,194
91$46,325,229$6,033,035$2,899,745$31,753,879
92$50,974,087$6,252,339$2,920,572$34,810,499
93$56,094,726$6,479,985$2,939,693$38,174,404
94$61,735,190$6,716,306$2,956,974$41,876,837
95$67,948,423$6,961,649$2,972,277$45,952,221
96$74,792,768$7,216,376$2,985,454$50,438,491
97$82,332,515$7,480,862$2,996,351$55,377,450
98$90,638,509$7,755,502$3,004,806$60,815,159
99$99,788,818$8,040,703$3,010,649$66,802,379
100$109,869,473$8,336,893$3,013,701$73,395,044