Can I retire at age 56 with 1,760,000?

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 $1,760,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.8%
1 years$145,339$144,045$142,781$141,549$140,345$139,285
2 years$71,950$70,610$69,311$68,052$66,831$65,763
3 years$47,490$46,144$44,849$43,602$42,400$41,356
4 years$35,263$33,921$32,639$31,413$30,240$29,229
5 years$27,928$26,595$25,329$24,128$22,988$22,012
6 years$23,040$21,716$20,470$19,295$18,190$17,250
7 years$19,550$18,237$17,010$15,864$14,793$13,891
8 years$16,933$15,633$14,426$13,308$12,272$11,407
9 years$14,900$13,611$12,425$11,335$10,335$9,507
10 years$13,273$11,998$10,833$9,771$8,806$8,014
11 years$11,944$10,681$9,537$8,504$7,573$6,817
12 years$10,836$9,586$8,464$7,459$6,563$5,842
13 years$9,900$8,663$7,562$6,585$5,723$5,037
14 years$9,099$7,875$6,794$5,846$5,017$4,364
15 years$8,404$7,194$6,134$5,213$4,417$3,797
16 years$7,797$6,600$5,562$4,668$3,904$3,315
17 years$7,263$6,078$5,061$4,194$3,461$2,904
18 years$6,788$5,617$4,620$3,780$3,078$2,550
19 years$6,363$5,206$4,229$3,415$2,743$2,244
20 years$5,982$4,837$3,881$3,093$2,450$1,978
21 years$5,637$4,506$3,570$2,807$2,193$1,747
22 years$5,324$4,206$3,290$2,552$1,966$1,546
23 years$5,039$3,934$3,038$2,325$1,764$1,369
24 years$4,777$3,686$2,810$2,120$1,586$1,214
25 years$4,538$3,459$2,602$1,936$1,427$1,077
26 years$4,316$3,251$2,414$1,770$1,285$957
27 years$4,112$3,059$2,241$1,620$1,159$851
28 years$3,923$2,883$2,084$1,485$1,046$757
29 years$3,747$2,720$1,939$1,361$944$674
30 years$3,583$2,568$1,806$1,250$853$600
31 years$3,429$2,428$1,684$1,148$771$535
32 years$3,286$2,297$1,571$1,055$698$476
33 years$3,152$2,176$1,467$970$631$425
34 years$3,026$2,062$1,370$892$572$379
35 years$2,907$1,956$1,281$821$518$338
36 years$2,795$1,856$1,199$757$469$302
37 years$2,690$1,763$1,122$697$425$269
38 years$2,590$1,676$1,051$642$386$241
39 years$2,496$1,593$984$592$350$215
40 years$2,406$1,516$923$546$317$192
41 years$2,321$1,443$865$504$288$171
42 years$2,241$1,374$811$465$261$153
43 years$2,164$1,309$761$429$237$137
44 years$2,091$1,248$715$397$215$122
45 years$2,022$1,190$671$366$195$109
46 years$1,955$1,135$630$338$177$98
47 years$1,892$1,083$592$313$161$87
48 years$1,832$1,034$557$289$146$78
49 years$1,774$988$523$267$133$70
50 years$1,718$944$492$247$121$62

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $1,760,000, adding $5,989 every year, while hoping to spend $56,687 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: 27/46/27 Blend
55$1,760,000$1,760,000$1,760,000$1,760,000
56$1,945,698$1,852,418$1,825,138$1,981,719
57$2,083,844$1,882,872$1,825,965$2,041,680
58$2,234,182$1,912,918$1,824,921$2,100,731
59$2,397,894$1,942,477$1,821,881$2,162,973
60$2,576,284$1,971,462$1,816,719$2,228,717
61$2,770,784$1,999,783$1,809,298$2,298,307
62$2,982,972$2,027,341$1,799,478$2,372,126
63$3,214,585$2,054,030$1,787,110$2,450,599
64$3,467,534$2,079,739$1,772,039$2,534,197
65$3,743,923$2,104,347$1,754,103$2,623,442
66$4,046,069$2,127,726$1,733,131$2,718,916
67$4,376,522$2,149,738$1,708,945$2,821,261
68$4,738,091$2,170,239$1,681,358$2,931,189
69$5,133,867$2,189,071$1,650,175$3,049,492
70$5,567,256$2,206,070$1,615,190$3,177,046
71$6,042,007$2,221,059$1,576,190$3,314,822
72$6,562,250$2,233,849$1,532,951$3,463,894
73$7,132,533$2,244,240$1,485,238$3,625,455
74$7,757,863$2,252,020$1,432,805$3,800,824
75$8,443,758$2,256,963$1,375,398$3,991,461
76$9,196,295$2,258,827$1,312,746$4,198,984
77$10,022,165$2,257,358$1,244,571$4,425,183
78$10,928,741$2,252,283$1,170,580$4,672,039
79$11,924,144$2,243,317$1,090,466$4,941,744
80$13,017,319$2,230,152$1,003,909$5,236,724
81$14,218,121$2,212,464$910,575$5,559,660
82$15,537,405$2,189,911$810,115$5,913,521
83$16,987,131$2,162,127$702,164$6,301,586
84$18,580,473$2,128,726$586,342$6,727,484
85$20,331,947$2,089,299$462,250$7,195,225
86$22,257,544$2,043,413$329,473$7,709,242
87$24,374,881$1,990,608$187,578$8,274,435
88$26,703,369$1,930,398$36,113$8,896,219
89$29,264,394$1,862,269$0$9,580,577
90$32,081,518$1,785,676$0$10,370,283
91$35,180,702$1,700,043$0$11,249,929
92$38,590,548$1,604,760$0$12,217,318
93$42,342,573$1,499,182$0$13,281,513
94$46,471,503$1,382,629$0$14,452,517
95$51,015,598$1,254,379$0$15,741,365
96$56,017,016$1,113,672$0$17,160,232
97$61,522,211$959,701$0$18,722,550
98$67,582,366$791,616$0$20,443,137
99$74,253,882$608,519$0$22,338,338
100$81,598,903$409,461$0$24,426,185