Can I retire at age 56 with 1,740,000?

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 $1,740,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.5%
1 years$143,688$142,408$141,159$139,940$138,750$137,301
2 years$71,132$69,808$68,524$67,279$66,071$64,612
3 years$46,951$45,620$44,339$43,106$41,918$40,494
4 years$34,862$33,536$32,268$31,056$29,897$28,519
5 years$27,611$26,292$25,041$23,854$22,727$21,399
6 years$22,778$21,470$20,237$19,076$17,983$16,707
7 years$19,328$18,030$16,817$15,683$14,625$13,401
8 years$16,741$15,455$14,262$13,156$12,133$10,961
9 years$14,730$13,457$12,284$11,206$10,218$9,098
10 years$13,122$11,861$10,709$9,660$8,706$7,637
11 years$11,808$10,559$9,428$8,407$7,487$6,469
12 years$10,713$9,478$8,367$7,374$6,488$5,519
13 years$9,788$8,565$7,476$6,510$5,658$4,736
14 years$8,995$7,785$6,717$5,779$4,960$4,085
15 years$8,309$7,112$6,065$5,154$4,367$3,537
16 years$7,709$6,525$5,498$4,615$3,860$3,074
17 years$7,180$6,009$5,003$4,146$3,422$2,679
18 years$6,711$5,553$4,567$3,737$3,043$2,341
19 years$6,291$5,146$4,181$3,376$2,712$2,050
20 years$5,914$4,782$3,837$3,058$2,423$1,798
21 years$5,573$4,455$3,530$2,775$2,168$1,580
22 years$5,263$4,158$3,253$2,523$1,943$1,390
23 years$4,981$3,889$3,004$2,298$1,744$1,225
24 years$4,723$3,644$2,778$2,096$1,568$1,080
25 years$4,486$3,419$2,573$1,914$1,411$953
26 years$4,267$3,214$2,386$1,750$1,271$842
27 years$4,065$3,025$2,216$1,602$1,146$745
28 years$3,878$2,850$2,060$1,468$1,034$659
29 years$3,704$2,689$1,917$1,346$934$583
30 years$3,542$2,539$1,786$1,235$843$516
31 years$3,391$2,400$1,665$1,135$763$457
32 years$3,249$2,271$1,553$1,043$690$405
33 years$3,116$2,151$1,450$959$624$359
34 years$2,991$2,039$1,355$882$565$319
35 years$2,874$1,934$1,267$812$512$283
36 years$2,764$1,835$1,185$748$464$251
37 years$2,659$1,743$1,109$689$420$223
38 years$2,561$1,656$1,039$635$381$198
39 years$2,467$1,575$973$586$346$175
40 years$2,379$1,499$912$540$313$156
41 years$2,295$1,427$855$498$284$138
42 years$2,215$1,359$802$460$258$123
43 years$2,139$1,294$753$425$234$109
44 years$2,067$1,234$707$392$213$97
45 years$1,999$1,177$664$362$193$86
46 years$1,933$1,122$623$334$175$76
47 years$1,871$1,071$585$309$159$68
48 years$1,811$1,023$550$286$145$60
49 years$1,754$977$517$264$131$54
50 years$1,699$933$486$244$119$48

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $1,740,000, adding $3,300 every year, while hoping to spend $22,466 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: 42/47/11 Blend
55$1,740,000$1,740,000$1,740,000$1,740,000
56$1,920,884$1,828,664$1,801,694$1,995,237
57$2,092,910$1,894,365$1,838,147$2,113,294
58$2,281,731$1,962,532$1,875,068$2,238,546
59$2,489,034$2,033,263$1,912,450$2,373,670
60$2,716,681$2,106,658$1,950,282$2,519,577
61$2,966,722$2,182,824$1,988,556$2,677,266
62$3,241,414$2,261,869$2,027,259$2,847,836
63$3,543,246$2,343,908$2,066,380$3,032,492
64$3,874,957$2,429,060$2,105,904$3,232,560
65$4,239,568$2,517,449$2,145,817$3,449,497
66$4,640,404$2,609,204$2,186,102$3,684,905
67$5,081,130$2,704,459$2,226,741$3,940,544
68$5,565,783$2,803,356$2,267,715$4,218,349
69$6,098,811$2,906,039$2,309,002$4,520,449
70$6,685,116$3,012,661$2,350,580$4,849,185
71$7,330,097$3,123,381$2,392,424$5,207,132
72$8,039,704$3,238,364$2,434,507$5,597,121
73$8,820,492$3,357,781$2,476,801$6,022,270
74$9,679,684$3,481,814$2,519,275$6,486,004
75$10,625,237$3,610,648$2,561,896$6,992,097
76$11,665,921$3,744,480$2,604,629$7,544,700
77$12,811,397$3,883,512$2,647,437$8,148,380
78$14,072,312$4,027,956$2,690,278$8,808,165
79$15,460,396$4,178,034$2,733,111$9,529,589
80$16,988,574$4,333,976$2,775,888$10,318,742
81$18,671,091$4,496,022$2,818,562$11,182,330
82$20,523,639$4,664,424$2,861,081$12,127,734
83$22,563,512$4,839,443$2,903,389$13,163,082
84$24,809,765$5,021,351$2,945,427$14,297,320
85$27,283,397$5,210,433$2,987,135$15,540,302
86$30,007,545$5,406,985$3,028,445$16,902,874
87$33,007,705$5,611,318$3,069,289$18,396,982
88$36,311,972$5,823,754$3,109,591$20,035,781
89$39,951,305$6,044,630$3,149,274$21,833,756
90$43,959,818$6,274,297$3,188,255$23,806,862
91$48,375,105$6,513,123$3,226,447$25,972,670
92$53,238,589$6,761,489$3,263,757$28,350,529
93$58,595,920$7,019,797$3,300,087$30,961,754
94$64,497,398$7,288,461$3,335,335$33,829,821
95$70,998,456$7,567,919$3,369,391$36,980,588
96$78,160,174$7,858,622$3,402,141$40,442,537
97$86,049,863$8,161,047$3,433,465$44,247,041
98$94,741,698$8,475,686$3,463,234$48,428,662
99$104,317,414$8,803,058$3,491,315$53,025,470
100$114,867,083$9,143,700$3,517,567$58,079,403