Can I retire at age 56 with 1,730,000?

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 $1,730,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.7%
1 years$142,862$141,589$140,348$139,136$137,953$132,584
2 years$70,724$69,406$68,130$66,892$65,692$60,348
3 years$46,681$45,358$44,085$42,859$41,678$36,526
4 years$34,662$33,343$32,082$30,877$29,725$24,806
5 years$27,452$26,141$24,897$23,717$22,596$17,922
6 years$22,647$21,346$20,121$18,966$17,880$13,453
7 years$19,217$17,927$16,720$15,593$14,541$10,361
8 years$16,645$15,366$14,180$13,081$12,063$8,125
9 years$14,646$13,379$12,213$11,142$10,159$6,457
10 years$13,047$11,793$10,648$9,604$8,656$5,184
11 years$11,740$10,499$9,374$8,359$7,444$4,194
12 years$10,652$9,423$8,319$7,332$6,451$3,413
13 years$9,732$8,516$7,433$6,473$5,626$2,791
14 years$8,943$7,741$6,678$5,746$4,931$2,292
15 years$8,261$7,071$6,030$5,124$4,342$1,887
16 years$7,665$6,488$5,467$4,588$3,837$1,558
17 years$7,139$5,975$4,975$4,123$3,402$1,289
18 years$6,672$5,521$4,541$3,715$3,025$1,068
19 years$6,255$5,117$4,157$3,357$2,697$886
20 years$5,880$4,755$3,815$3,040$2,409$736
21 years$5,541$4,429$3,509$2,759$2,155$612
22 years$5,233$4,134$3,234$2,509$1,932$510
23 years$4,953$3,867$2,986$2,285$1,734$424
24 years$4,696$3,623$2,762$2,084$1,559$354
25 years$4,460$3,400$2,558$1,903$1,403$295
26 years$4,243$3,195$2,372$1,740$1,264$246
27 years$4,042$3,007$2,203$1,593$1,139$205
28 years$3,856$2,834$2,048$1,459$1,028$171
29 years$3,683$2,673$1,906$1,338$928$143
30 years$3,522$2,525$1,775$1,228$839$119
31 years$3,371$2,387$1,655$1,128$758$99
32 years$3,230$2,258$1,544$1,037$686$83
33 years$3,098$2,139$1,442$953$621$69
34 years$2,974$2,027$1,347$877$562$58
35 years$2,858$1,922$1,259$807$509$48
36 years$2,748$1,825$1,178$744$461$40
37 years$2,644$1,733$1,103$685$418$34
38 years$2,546$1,647$1,033$632$379$28
39 years$2,453$1,566$968$582$344$24
40 years$2,365$1,490$907$537$312$20
41 years$2,282$1,418$850$496$283$16
42 years$2,203$1,351$798$457$257$14
43 years$2,127$1,287$748$422$233$11
44 years$2,055$1,227$703$390$211$10
45 years$1,987$1,170$660$360$192$8
46 years$1,922$1,116$620$333$174$7
47 years$1,860$1,065$582$307$158$6
48 years$1,800$1,017$547$284$144$5
49 years$1,743$971$514$262$130$4
50 years$1,689$927$483$242$119$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $1,730,000, adding $5,393 every year, while hoping to spend $42,038 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: 42/34/24 Blend
55$1,730,000$1,730,000$1,730,000$1,730,000
56$1,912,023$1,820,333$1,793,518$1,978,689
57$2,062,321$1,864,801$1,808,873$2,071,318
58$2,226,541$1,910,039$1,823,333$2,167,142
59$2,406,058$1,956,041$1,836,824$2,270,081
60$2,602,386$2,002,797$1,849,268$2,380,814
61$2,817,194$2,050,299$1,860,583$2,500,088
62$3,052,317$2,098,533$1,870,682$2,628,728
63$3,309,777$2,147,485$1,879,473$2,767,642
64$3,591,801$2,197,138$1,886,863$2,917,831
65$3,900,841$2,247,474$1,892,749$3,080,398
66$4,239,597$2,298,471$1,897,027$3,256,560
67$4,611,044$2,350,104$1,899,585$3,447,656
68$5,018,457$2,402,346$1,900,308$3,655,165
69$5,465,445$2,455,166$1,899,073$3,880,715
70$5,955,981$2,508,530$1,895,753$4,126,102
71$6,494,444$2,562,400$1,890,213$4,393,306
72$7,085,654$2,616,735$1,882,312$4,684,508
73$7,734,924$2,671,489$1,871,903$5,002,114
74$8,448,106$2,726,611$1,858,831$5,348,777
75$9,231,645$2,782,047$1,842,935$5,727,421
76$10,092,643$2,837,738$1,824,043$6,141,268
77$11,038,923$2,893,617$1,801,979$6,593,873
78$12,079,104$2,949,615$1,776,556$7,089,153
79$13,222,681$3,005,654$1,747,578$7,631,428
80$14,480,115$3,061,652$1,714,843$8,225,460
81$15,862,932$3,117,518$1,678,135$8,876,497
82$17,383,830$3,173,156$1,637,232$9,590,328
83$19,056,801$3,228,460$1,591,900$10,373,333
84$20,897,259$3,283,320$1,541,893$11,232,546
85$22,922,189$3,337,612$1,486,956$12,175,722
86$25,150,304$3,391,206$1,426,820$13,211,409
87$27,602,223$3,443,964$1,361,207$14,349,031
88$30,300,666$3,495,734$1,289,824$15,598,978
89$33,270,665$3,546,356$1,212,364$16,972,702
90$36,539,802$3,595,657$1,128,508$18,482,831
91$40,138,471$3,643,453$1,037,922$20,143,282
92$44,100,160$3,689,547$940,257$21,969,398
93$48,461,769$3,733,728$835,148$23,978,093
94$53,263,960$3,775,771$722,216$26,188,013
95$58,551,535$3,815,435$601,061$28,619,709
96$64,373,864$3,852,464$471,270$31,295,839
97$70,785,348$3,886,585$332,407$34,241,375
98$77,845,932$3,917,506$184,021$37,483,848
99$85,621,671$3,944,917$25,640$41,053,602
100$94,185,352$3,968,489$0$44,984,086