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%14.9%
1 years$140,384$139,134$137,914$136,723$135,560$132,823
2 years$69,497$68,203$66,949$65,732$64,553$61,807
3 years$45,871$44,571$43,320$42,115$40,955$38,286
4 years$34,061$32,765$31,526$30,342$29,209$26,639
5 years$26,976$25,688$24,465$23,305$22,204$19,739
6 years$22,255$20,976$19,772$18,637$17,570$15,212
7 years$18,883$17,616$16,430$15,323$14,289$12,039
8 years$16,356$15,100$13,934$12,854$11,854$9,712
9 years$14,392$13,147$12,002$10,949$9,983$7,947
10 years$12,821$11,589$10,463$9,438$8,506$6,574
11 years$11,537$10,317$9,212$8,214$7,315$5,485
12 years$10,467$9,260$8,175$7,205$6,339$4,608
13 years$9,563$8,368$7,304$6,361$5,528$3,893
14 years$8,788$7,606$6,563$5,646$4,846$3,304
15 years$8,118$6,949$5,925$5,035$4,267$2,815
16 years$7,532$6,375$5,372$4,509$3,771$2,405
17 years$7,015$5,871$4,888$4,051$3,343$2,061
18 years$6,556$5,425$4,462$3,651$2,973$1,770
19 years$6,146$5,028$4,085$3,299$2,650$1,523
20 years$5,778$4,672$3,749$2,988$2,367$1,312
21 years$5,445$4,352$3,448$2,712$2,118$1,132
22 years$5,142$4,063$3,178$2,465$1,899$978
23 years$4,867$3,800$2,935$2,245$1,704$846
24 years$4,615$3,560$2,714$2,048$1,532$732
25 years$4,383$3,341$2,514$1,870$1,378$634
26 years$4,169$3,140$2,331$1,710$1,242$550
27 years$3,972$2,955$2,165$1,565$1,119$477
28 years$3,789$2,784$2,013$1,434$1,010$414
29 years$3,619$2,627$1,873$1,315$912$359
30 years$3,460$2,481$1,744$1,207$824$312
31 years$3,313$2,345$1,626$1,108$745$271
32 years$3,174$2,219$1,517$1,019$674$235
33 years$3,044$2,101$1,417$937$610$204
34 years$2,923$1,992$1,324$862$552$178
35 years$2,808$1,889$1,238$793$500$154
36 years$2,700$1,793$1,158$731$453$134
37 years$2,598$1,703$1,084$673$411$117
38 years$2,502$1,618$1,015$621$372$102
39 years$2,411$1,539$951$572$338$88
40 years$2,324$1,464$891$528$306$77
41 years$2,242$1,394$836$487$278$67
42 years$2,164$1,327$784$449$252$58
43 years$2,090$1,265$736$415$229$51
44 years$2,020$1,206$690$383$208$44
45 years$1,953$1,150$648$354$189$38
46 years$1,889$1,097$609$327$171$33
47 years$1,828$1,047$572$302$155$29
48 years$1,769$999$538$279$141$25
49 years$1,713$954$505$258$128$22
50 years$1,660$911$475$238$116$19

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 $2,244 every year, while hoping to spend $27,363 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: 58/30/12 Blend
55$1,700,000$1,700,000$1,700,000$1,700,000
56$1,875,715$1,785,615$1,759,265$1,978,818
57$2,037,924$1,843,996$1,789,086$2,107,015
58$2,215,761$1,904,320$1,818,989$2,243,445
59$2,410,791$1,966,655$1,848,948$2,391,507
60$2,624,739$2,031,068$1,878,935$2,552,319
61$2,859,503$2,097,631$1,908,920$2,727,116
62$3,117,175$2,166,418$1,938,871$2,917,252
63$3,400,058$2,237,504$1,968,755$3,124,220
64$3,710,691$2,310,968$1,998,535$3,349,662
65$4,051,868$2,386,893$2,028,173$3,595,387
66$4,426,671$2,465,363$2,057,629$3,863,385
67$4,838,491$2,546,465$2,086,860$4,155,847
68$5,291,066$2,630,291$2,115,818$4,475,184
69$5,788,514$2,716,934$2,144,457$4,824,051
70$6,335,371$2,806,492$2,172,725$5,205,374
71$6,936,635$2,899,067$2,200,568$5,622,371
72$7,597,812$2,994,761$2,227,927$6,078,587
73$8,324,969$3,093,684$2,254,742$6,577,927
74$9,124,789$3,195,949$2,280,950$7,124,690
75$10,004,638$3,301,670$2,306,482$7,723,612
76$10,972,628$3,410,969$2,331,266$8,379,908
77$12,037,700$3,523,970$2,355,227$9,099,321
78$13,209,704$3,640,804$2,378,286$9,888,179
79$14,499,493$3,761,603$2,400,358$10,753,451
80$15,919,027$3,886,506$2,421,355$11,702,813
81$17,481,481$4,015,659$2,441,184$12,744,720
82$19,201,376$4,149,209$2,459,747$13,888,489
83$21,094,708$4,287,312$2,476,941$15,144,379
84$23,179,106$4,430,128$2,492,656$16,523,696
85$25,473,993$4,577,823$2,506,779$18,038,893
86$28,000,774$4,730,570$2,519,189$19,703,689
87$30,783,032$4,888,547$2,529,761$21,533,199
88$33,846,755$5,051,940$2,538,362$23,544,076
89$37,220,580$5,220,940$2,544,852$25,754,665
90$40,936,060$5,395,747$2,549,086$28,185,181
91$45,027,967$5,576,568$2,550,909$30,857,893
92$49,534,616$5,763,616$2,550,161$33,797,339
93$54,498,228$5,957,114$2,546,672$37,030,554
94$59,965,327$6,157,293$2,540,266$40,587,325
95$65,987,181$6,364,391$2,530,756$44,500,473
96$72,620,284$6,578,657$2,517,947$48,806,160
97$79,926,890$6,800,348$2,501,635$53,544,233
98$87,975,598$7,029,731$2,481,605$58,758,595
99$96,842,004$7,267,082$2,457,634$64,497,623
100$106,609,410$7,512,690$2,429,486$70,814,623