Can I retire at age 56 with 1,710,000?

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 $1,710,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.2%
1 years$141,210$139,952$138,725$137,527$136,358$135,102
2 years$69,906$68,604$67,342$66,119$64,932$63,668
3 years$46,141$44,834$43,575$42,363$41,196$39,961
4 years$34,261$32,957$31,711$30,520$29,381$28,185
5 years$27,135$25,839$24,609$23,442$22,335$21,182
6 years$22,385$21,099$19,888$18,747$17,673$16,564
7 years$18,994$17,719$16,527$15,413$14,373$13,309
8 years$16,452$15,189$14,016$12,930$11,924$10,904
9 years$14,476$13,225$12,072$11,013$10,041$9,066
10 years$12,896$11,657$10,525$9,493$8,556$7,625
11 years$11,604$10,377$9,266$8,262$7,358$6,470
12 years$10,529$9,314$8,223$7,247$6,377$5,531
13 years$9,619$8,417$7,347$6,398$5,560$4,756
14 years$8,840$7,651$6,601$5,679$4,874$4,110
15 years$8,166$6,989$5,960$5,065$4,292$3,566
16 years$7,576$6,413$5,404$4,535$3,793$3,105
17 years$7,056$5,906$4,917$4,075$3,363$2,712
18 years$6,595$5,457$4,489$3,672$2,990$2,375
19 years$6,182$5,058$4,109$3,318$2,665$2,084
20 years$5,812$4,700$3,771$3,005$2,381$1,832
21 years$5,477$4,378$3,469$2,727$2,131$1,613
22 years$5,173$4,086$3,197$2,480$1,910$1,423
23 years$4,895$3,822$2,952$2,258$1,714$1,256
24 years$4,642$3,581$2,730$2,060$1,541$1,110
25 years$4,409$3,361$2,529$1,881$1,386$983
26 years$4,194$3,158$2,345$1,720$1,249$870
27 years$3,995$2,972$2,178$1,574$1,126$771
28 years$3,811$2,801$2,024$1,443$1,016$684
29 years$3,640$2,642$1,884$1,323$917$607
30 years$3,481$2,495$1,755$1,214$829$539
31 years$3,332$2,359$1,636$1,115$749$478
32 years$3,193$2,232$1,526$1,025$678$425
33 years$3,062$2,114$1,425$942$614$378
34 years$2,940$2,003$1,332$867$555$336
35 years$2,825$1,900$1,245$798$503$299
36 years$2,716$1,804$1,165$735$456$266
37 years$2,613$1,713$1,090$677$413$236
38 years$2,516$1,628$1,021$624$375$210
39 years$2,425$1,548$956$576$340$187
40 years$2,338$1,473$896$531$308$167
41 years$2,255$1,402$841$490$280$148
42 years$2,177$1,335$788$452$254$132
43 years$2,103$1,272$740$417$230$118
44 years$2,032$1,213$694$385$209$105
45 years$1,964$1,156$652$356$190$93
46 years$1,900$1,103$612$329$172$83
47 years$1,838$1,053$575$304$156$74
48 years$1,780$1,005$541$281$142$66
49 years$1,723$960$508$259$129$59
50 years$1,670$917$478$240$117$52

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $1,710,000, adding $2,101 every year, while hoping to spend $20,795 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: 42/41/17 Blend
55$1,710,000$1,710,000$1,710,000$1,710,000
56$1,886,587$1,795,957$1,769,452$1,956,346
57$2,056,893$1,861,833$1,806,603$2,071,698
58$2,243,874$1,930,241$1,844,302$2,194,332
59$2,449,207$2,001,281$1,882,544$2,326,691
60$2,674,743$2,075,060$1,921,326$2,469,675
61$2,922,519$2,151,690$1,960,643$2,624,273
62$3,194,779$2,231,286$2,000,487$2,791,574
63$3,493,995$2,313,968$2,040,852$2,972,772
64$3,822,893$2,399,862$2,081,730$3,169,180
65$4,184,471$2,489,099$2,123,112$3,382,243
66$4,582,038$2,581,815$2,164,987$3,613,548
67$5,019,234$2,678,153$2,207,343$3,864,839
68$5,500,075$2,778,261$2,250,167$4,138,036
69$6,028,981$2,882,294$2,293,446$4,435,249
70$6,610,824$2,990,414$2,337,164$4,758,801
71$7,250,972$3,102,788$2,381,303$5,111,245
72$7,955,339$3,219,593$2,425,844$5,495,390
73$8,730,442$3,341,011$2,470,769$5,914,329
74$9,583,461$3,467,234$2,516,053$6,371,462
75$10,522,307$3,598,461$2,561,673$6,870,533
76$11,555,697$3,734,901$2,607,604$7,415,662
77$12,693,236$3,876,769$2,653,817$8,011,383
78$13,945,508$4,024,293$2,700,282$8,662,686
79$15,324,176$4,177,709$2,746,967$9,375,065
80$16,842,088$4,337,263$2,793,838$10,154,568
81$18,513,406$4,503,214$2,840,855$11,007,852
82$20,353,730$4,675,828$2,887,981$11,942,248
83$22,380,255$4,855,388$2,935,173$12,965,827
84$24,611,924$5,042,185$2,982,384$14,087,474
85$27,069,612$5,236,524$3,029,566$15,316,974
86$29,776,325$5,438,726$3,076,668$16,665,103
87$32,757,408$5,649,122$3,123,635$18,143,727
88$36,040,795$5,868,060$3,170,408$19,765,912
89$39,657,265$6,095,904$3,216,926$21,546,050
90$43,640,734$6,333,031$3,263,121$23,499,990
91$48,028,577$6,579,838$3,308,924$25,645,189
92$52,861,980$6,836,738$3,354,261$28,000,874
93$58,186,327$7,104,163$3,399,053$30,588,223
94$64,051,628$7,382,563$3,443,217$33,430,561
95$70,512,994$7,672,408$3,486,665$36,553,584
96$77,631,155$7,974,192$3,529,304$39,985,594
97$85,473,032$8,288,426$3,571,034$43,757,770
98$94,112,370$8,615,648$3,611,753$47,904,456
99$103,630,435$8,956,419$3,651,351$52,463,487
100$114,116,779$9,311,323$3,689,711$57,476,542