Can I retire at age 56 with 1,720,000?

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 $1,720,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.1%
1 years$142,036$140,771$139,536$138,332$137,155$134,828
2 years$70,315$69,005$67,736$66,506$65,312$62,974
3 years$46,411$45,096$43,830$42,611$41,437$39,161
4 years$34,461$33,150$31,897$30,699$29,553$27,358
5 years$27,293$25,990$24,753$23,580$22,466$20,357
6 years$22,516$21,223$20,004$18,857$17,776$15,756
7 years$19,106$17,823$16,624$15,503$14,457$12,526
8 years$16,549$15,278$14,098$13,005$11,993$10,152
9 years$14,561$13,302$12,143$11,078$10,100$8,346
10 years$12,972$11,725$10,586$9,549$8,606$6,939
11 years$11,672$10,438$9,320$8,310$7,401$5,819
12 years$10,590$9,369$8,271$7,289$6,414$4,914
13 years$9,675$8,466$7,390$6,435$5,593$4,173
14 years$8,892$7,696$6,640$5,713$4,903$3,561
15 years$8,213$7,030$5,995$5,095$4,317$3,050
16 years$7,620$6,450$5,435$4,562$3,815$2,621
17 years$7,098$5,940$4,946$4,099$3,383$2,259
18 years$6,633$5,489$4,515$3,694$3,008$1,951
19 years$6,219$5,087$4,133$3,338$2,681$1,689
20 years$5,846$4,727$3,793$3,023$2,395$1,464
21 years$5,509$4,403$3,489$2,743$2,143$1,271
22 years$5,203$4,110$3,216$2,494$1,921$1,105
23 years$4,924$3,844$2,969$2,272$1,724$961
24 years$4,669$3,602$2,746$2,072$1,550$837
25 years$4,434$3,380$2,543$1,892$1,395$730
26 years$4,218$3,177$2,359$1,730$1,256$637
27 years$4,019$2,990$2,190$1,584$1,133$556
28 years$3,834$2,817$2,036$1,451$1,022$485
29 years$3,661$2,658$1,895$1,331$923$424
30 years$3,501$2,510$1,765$1,221$834$371
31 years$3,352$2,373$1,645$1,121$754$324
32 years$3,212$2,245$1,535$1,031$682$283
33 years$3,080$2,126$1,433$948$617$248
34 years$2,957$2,015$1,339$872$559$217
35 years$2,841$1,911$1,252$803$506$190
36 years$2,732$1,814$1,171$739$459$166
37 years$2,629$1,723$1,096$681$416$145
38 years$2,531$1,637$1,027$628$377$127
39 years$2,439$1,557$962$579$342$112
40 years$2,352$1,481$902$534$310$98
41 years$2,269$1,410$845$493$281$86
42 years$2,190$1,343$793$455$255$75
43 years$2,115$1,280$744$420$232$66
44 years$2,044$1,220$699$388$210$58
45 years$1,976$1,163$656$358$191$50
46 years$1,911$1,110$616$331$173$44
47 years$1,849$1,059$579$305$157$39
48 years$1,790$1,011$544$282$143$34
49 years$1,733$965$511$261$130$30
50 years$1,679$922$481$241$118$26

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $1,720,000, adding $6,223 every year, while hoping to spend $46,942 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: 29/41/30 Blend
55$1,720,000$1,720,000$1,720,000$1,720,000
56$1,901,859$1,810,699$1,784,039$1,939,318
57$2,045,903$1,849,477$1,793,858$2,008,440
58$2,203,066$1,888,583$1,802,433$2,078,237
59$2,374,636$1,927,981$1,809,673$2,152,354
60$2,562,033$1,967,636$1,815,481$2,231,199
61$2,766,818$2,007,507$1,819,757$2,315,221
62$2,990,709$2,047,551$1,822,395$2,404,919
63$3,235,600$2,087,720$1,823,284$2,500,843
64$3,503,576$2,127,963$1,822,308$2,603,601
65$3,796,929$2,168,222$1,819,344$2,713,864
66$4,118,189$2,208,437$1,814,265$2,832,374
67$4,470,137$2,248,544$1,806,936$2,959,950
68$4,855,839$2,288,470$1,797,216$3,097,499
69$5,278,669$2,328,140$1,784,957$3,246,020
70$5,742,345$2,367,470$1,770,005$3,406,618
71$6,250,961$2,406,374$1,752,197$3,580,513
72$6,809,028$2,444,755$1,731,365$3,769,053
73$7,421,512$2,482,511$1,707,329$3,973,727
74$8,093,886$2,519,533$1,679,903$4,196,178
75$8,832,176$2,555,704$1,648,894$4,438,222
76$9,643,022$2,590,898$1,614,096$4,701,864
77$10,533,738$2,624,980$1,575,296$4,989,317
78$11,512,382$2,657,806$1,532,271$5,303,025
79$12,587,830$2,689,224$1,484,787$5,645,686
80$13,769,861$2,719,068$1,432,600$6,020,281
81$15,069,248$2,747,164$1,375,454$6,430,096
82$16,497,861$2,773,325$1,313,081$6,878,763
83$18,068,777$2,797,351$1,245,203$7,370,288
84$19,796,401$2,819,031$1,171,527$7,909,094
85$21,696,609$2,838,138$1,091,748$8,500,062
86$23,786,889$2,854,433$1,005,547$9,148,579
87$26,086,510$2,867,658$912,591$9,860,590
88$28,616,703$2,877,542$812,532$10,642,655
89$31,400,861$2,883,796$705,005$11,502,013
90$34,464,758$2,886,112$589,633$12,446,651
91$37,836,795$2,884,162$466,017$13,485,383
92$41,548,263$2,877,602$333,744$14,627,931
93$45,633,643$2,866,061$192,381$15,885,022
94$50,130,927$2,849,150$41,478$17,268,490
95$55,081,977$2,826,454$0$18,791,389
96$60,532,921$2,797,533$0$20,506,392
97$66,534,588$2,761,921$0$22,407,769
98$73,142,985$2,719,125$0$24,499,912
99$80,419,828$2,668,620$0$26,802,319
100$88,433,121$2,609,853$0$29,336,483