Can I retire at age 56 with 1,770,000?

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 $1,770,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.1%
1 years$146,165$144,863$143,593$142,353$141,142$140,488
2 years$72,359$71,011$69,705$68,439$67,211$66,551
3 years$47,760$46,407$45,104$43,849$42,641$41,996
4 years$35,463$34,114$32,824$31,591$30,412$29,786
5 years$28,087$26,746$25,473$24,265$23,119$22,513
6 years$23,171$21,840$20,586$19,405$18,293$17,710
7 years$19,661$18,341$17,107$15,954$14,877$14,316
8 years$17,030$15,722$14,508$13,383$12,342$11,803
9 years$14,984$13,689$12,496$11,400$10,394$9,877
10 years$13,349$12,066$10,894$9,827$8,856$8,361
11 years$12,012$10,741$9,591$8,552$7,616$7,143
12 years$10,898$9,641$8,512$7,501$6,600$6,148
13 years$9,957$8,713$7,605$6,623$5,756$5,324
14 years$9,150$7,920$6,833$5,879$5,045$4,634
15 years$8,452$7,235$6,169$5,243$4,442$4,051
16 years$7,842$6,638$5,593$4,694$3,926$3,554
17 years$7,304$6,113$5,090$4,218$3,481$3,128
18 years$6,826$5,649$4,646$3,801$3,095$2,760
19 years$6,399$5,235$4,253$3,435$2,759$2,441
20 years$6,016$4,865$3,904$3,111$2,464$2,163
21 years$5,669$4,531$3,590$2,823$2,205$1,920
22 years$5,354$4,230$3,309$2,567$1,977$1,708
23 years$5,067$3,956$3,055$2,338$1,774$1,520
24 years$4,805$3,707$2,826$2,132$1,595$1,355
25 years$4,563$3,478$2,617$1,947$1,435$1,209
26 years$4,341$3,269$2,427$1,780$1,293$1,080
27 years$4,135$3,077$2,254$1,630$1,166$966
28 years$3,945$2,899$2,095$1,493$1,052$864
29 years$3,768$2,735$1,950$1,369$950$773
30 years$3,603$2,583$1,816$1,257$858$692
31 years$3,449$2,442$1,693$1,154$776$621
32 years$3,305$2,310$1,580$1,061$702$556
33 years$3,170$2,188$1,475$975$635$499
34 years$3,043$2,074$1,378$897$575$448
35 years$2,924$1,967$1,289$826$521$402
36 years$2,811$1,867$1,205$761$472$361
37 years$2,705$1,773$1,128$701$428$324
38 years$2,605$1,685$1,057$646$388$291
39 years$2,510$1,602$990$596$352$261
40 years$2,420$1,524$928$550$319$235
41 years$2,335$1,451$870$507$289$211
42 years$2,253$1,382$816$468$263$190
43 years$2,176$1,317$766$432$238$171
44 years$2,103$1,255$719$399$216$153
45 years$2,033$1,197$675$368$196$138
46 years$1,966$1,142$634$340$178$124
47 years$1,903$1,090$596$314$162$112
48 years$1,842$1,040$560$290$147$100
49 years$1,784$993$526$268$134$90
50 years$1,728$949$495$248$121$81

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $1,770,000, adding $3,094 every year, while hoping to spend $37,159 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: 59/15/26 Blend
55$1,770,000$1,770,000$1,770,000$1,770,000
56$1,953,731$1,859,921$1,832,486$2,055,100
57$2,113,475$1,911,521$1,854,338$2,176,211
58$2,288,267$1,964,403$1,875,676$2,304,007
59$2,479,604$2,018,592$1,896,444$2,442,615
60$2,689,131$2,074,111$1,916,583$2,593,094
61$2,918,664$2,130,983$1,936,030$2,756,610
62$3,170,199$2,189,233$1,954,718$2,934,448
63$3,445,936$2,248,882$1,972,578$3,128,022
64$3,748,298$2,309,954$1,989,536$3,338,893
65$4,079,954$2,372,471$2,005,515$3,568,778
66$4,443,842$2,436,455$2,020,433$3,819,569
67$4,843,201$2,501,928$2,034,204$4,093,352
68$5,281,596$2,568,911$2,046,738$4,392,425
69$5,762,956$2,637,425$2,057,941$4,719,320
70$6,291,607$2,707,489$2,067,712$5,076,826
71$6,872,317$2,779,122$2,075,946$5,468,018
72$7,510,337$2,852,342$2,082,534$5,896,284
73$8,211,451$2,927,167$2,087,359$6,365,356
74$8,982,034$3,003,613$2,090,300$6,879,349
75$9,829,106$3,081,695$2,091,230$7,442,795
76$10,760,403$3,161,426$2,090,014$8,060,691
77$11,784,447$3,242,819$2,086,513$8,738,541
78$12,910,628$3,325,884$2,080,578$9,482,414
79$14,149,291$3,410,631$2,072,056$10,298,995
80$15,511,833$3,497,067$2,060,785$11,195,652
81$17,010,813$3,585,196$2,046,594$12,180,507
82$18,660,068$3,675,022$2,029,306$13,262,508
83$20,474,842$3,766,545$2,008,735$14,451,517
84$22,471,933$3,859,764$1,984,686$15,758,404
85$24,669,851$3,954,673$1,956,953$17,195,148
86$27,088,988$4,051,264$1,925,324$18,774,948
87$29,751,816$4,149,527$1,889,573$20,512,354
88$32,683,095$4,249,447$1,849,467$22,423,399
89$35,910,106$4,351,006$1,804,760$24,525,753
90$39,462,913$4,454,182$1,755,196$26,838,889
91$43,374,641$4,558,947$1,700,505$29,384,269
92$47,681,790$4,665,271$1,640,407$32,185,545
93$52,424,580$4,773,117$1,574,609$35,268,783
94$57,647,331$4,882,444$1,502,803$38,662,709
95$63,398,880$4,993,204$1,424,667$42,398,982
96$69,733,039$5,105,345$1,339,867$46,512,493
97$76,709,108$5,218,805$1,248,051$51,041,693
98$84,392,430$5,333,520$1,148,854$56,028,958
99$92,855,009$5,449,413$1,041,892$61,520,991
100$102,176,189$5,566,404$926,765$67,569,258