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

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 $1,730,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.1%
1 years$142,862$141,589$140,348$139,136$137,953$133,966
2 years$70,724$69,406$68,130$66,892$65,692$61,707
3 years$46,681$45,358$44,085$42,859$41,678$37,820
4 years$34,662$33,343$32,082$30,877$29,725$26,023
5 years$27,452$26,141$24,897$23,717$22,596$19,061
6 years$22,647$21,346$20,121$18,966$17,880$14,514
7 years$19,217$17,927$16,720$15,593$14,541$11,345
8 years$16,645$15,366$14,180$13,081$12,063$9,035
9 years$14,646$13,379$12,213$11,142$10,159$7,295
10 years$13,047$11,793$10,648$9,604$8,656$5,953
11 years$11,740$10,499$9,374$8,359$7,444$4,898
12 years$10,652$9,423$8,319$7,332$6,451$4,056
13 years$9,732$8,516$7,433$6,473$5,626$3,376
14 years$8,943$7,741$6,678$5,746$4,931$2,823
15 years$8,261$7,071$6,030$5,124$4,342$2,368
16 years$7,665$6,488$5,467$4,588$3,837$1,992
17 years$7,139$5,975$4,975$4,123$3,402$1,680
18 years$6,672$5,521$4,541$3,715$3,025$1,419
19 years$6,255$5,117$4,157$3,357$2,697$1,201
20 years$5,880$4,755$3,815$3,040$2,409$1,018
21 years$5,541$4,429$3,509$2,759$2,155$864
22 years$5,233$4,134$3,234$2,509$1,932$734
23 years$4,953$3,867$2,986$2,285$1,734$624
24 years$4,696$3,623$2,762$2,084$1,559$530
25 years$4,460$3,400$2,558$1,903$1,403$451
26 years$4,243$3,195$2,372$1,740$1,264$384
27 years$4,042$3,007$2,203$1,593$1,139$327
28 years$3,856$2,834$2,048$1,459$1,028$279
29 years$3,683$2,673$1,906$1,338$928$238
30 years$3,522$2,525$1,775$1,228$839$203
31 years$3,371$2,387$1,655$1,128$758$173
32 years$3,230$2,258$1,544$1,037$686$148
33 years$3,098$2,139$1,442$953$621$126
34 years$2,974$2,027$1,347$877$562$107
35 years$2,858$1,922$1,259$807$509$92
36 years$2,748$1,825$1,178$744$461$78
37 years$2,644$1,733$1,103$685$418$67
38 years$2,546$1,647$1,033$632$379$57
39 years$2,453$1,566$968$582$344$49
40 years$2,365$1,490$907$537$312$42
41 years$2,282$1,418$850$496$283$35
42 years$2,203$1,351$798$457$257$30
43 years$2,127$1,287$748$422$233$26
44 years$2,055$1,227$703$390$211$22
45 years$1,987$1,170$660$360$192$19
46 years$1,922$1,116$620$333$174$16
47 years$1,860$1,065$582$307$158$14
48 years$1,800$1,017$547$284$144$12
49 years$1,743$971$514$262$130$10
50 years$1,689$927$483$242$119$9

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 $4,847 every year, while hoping to spend $21,929 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: 80/12/8 Blend
55$1,730,000$1,730,000$1,730,000$1,730,000
56$1,911,460$1,819,770$1,792,955$2,062,006
57$2,083,096$1,885,606$1,829,686$2,227,200
58$2,271,505$1,953,934$1,866,914$2,405,046
59$2,478,373$2,024,851$1,904,630$2,599,535
60$2,705,560$2,098,461$1,942,828$2,812,317
61$2,955,113$2,174,872$1,981,498$3,045,212
62$3,229,288$2,254,195$2,020,632$3,300,221
63$3,530,571$2,336,546$2,060,219$3,579,549
64$3,861,700$2,422,047$2,100,247$3,885,624
65$4,225,691$2,510,824$2,140,703$4,221,121
66$4,625,866$2,603,010$2,181,571$4,588,984
67$5,065,888$2,698,741$2,222,838$4,992,458
68$5,549,791$2,798,161$2,264,484$5,435,114
69$6,082,017$2,901,419$2,306,492$5,920,890
70$6,667,464$3,008,670$2,348,841$6,454,118
71$7,311,527$3,120,076$2,391,509$7,039,575
72$8,020,149$3,235,806$2,434,471$7,682,519
73$8,799,881$3,356,038$2,477,702$8,388,745
74$9,657,938$3,480,953$2,521,175$9,164,635
75$10,602,272$3,610,743$2,564,858$10,017,222
76$11,641,643$3,745,610$2,608,721$10,954,251
77$12,785,706$3,885,759$2,652,728$11,984,257
78$14,045,096$4,031,410$2,696,842$13,116,640
79$15,431,534$4,182,787$2,741,025$14,361,760
80$16,957,935$4,340,128$2,785,233$15,731,027
81$18,638,529$4,503,679$2,829,423$17,237,015
82$20,488,996$4,673,696$2,873,546$18,893,576
83$22,526,615$4,850,449$2,917,552$20,715,973
84$24,770,425$5,034,216$2,961,385$22,721,021
85$27,241,406$5,225,290$3,004,989$24,927,249
86$29,962,675$5,423,975$3,048,301$27,355,069
87$32,959,707$5,630,589$3,091,259$30,026,976
88$36,260,573$5,845,464$3,133,791$32,967,752
89$39,896,205$6,068,945$3,175,827$36,204,706
90$43,900,688$6,301,393$3,217,288$39,767,926
91$48,311,584$6,543,187$3,258,092$43,690,566
92$53,170,281$6,794,719$3,298,154$48,009,159
93$58,522,389$7,056,399$3,337,381$52,763,957
94$64,418,167$7,328,657$3,375,678$57,999,316
95$70,912,999$7,611,941$3,412,942$63,764,109
96$78,067,916$7,906,717$3,449,067$70,112,193
97$85,950,171$8,213,473$3,483,938$77,102,908
98$94,633,874$8,532,720$3,517,436$84,801,647
99$104,200,695$8,864,988$3,549,435$93,280,463
100$114,740,626$9,210,833$3,579,802$102,618,757