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

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 $1,770,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.3%
1 years$146,165$144,863$143,593$142,353$141,142$136,406
2 years$72,359$71,011$69,705$68,439$67,211$62,486
3 years$47,760$46,407$45,104$43,849$42,641$38,076
4 years$35,463$34,114$32,824$31,591$30,412$26,041
5 years$28,087$26,746$25,473$24,265$23,119$18,954
6 years$23,171$21,840$20,586$19,405$18,293$14,338
7 years$19,661$18,341$17,107$15,954$14,877$11,131
8 years$17,030$15,722$14,508$13,383$12,342$8,802
9 years$14,984$13,689$12,496$11,400$10,394$7,056
10 years$13,349$12,066$10,894$9,827$8,856$5,714
11 years$12,012$10,741$9,591$8,552$7,616$4,665
12 years$10,898$9,641$8,512$7,501$6,600$3,833
13 years$9,957$8,713$7,605$6,623$5,756$3,165
14 years$9,150$7,920$6,833$5,879$5,045$2,624
15 years$8,452$7,235$6,169$5,243$4,442$2,182
16 years$7,842$6,638$5,593$4,694$3,926$1,820
17 years$7,304$6,113$5,090$4,218$3,481$1,521
18 years$6,826$5,649$4,646$3,801$3,095$1,274
19 years$6,399$5,235$4,253$3,435$2,759$1,069
20 years$6,016$4,865$3,904$3,111$2,464$897
21 years$5,669$4,531$3,590$2,823$2,205$754
22 years$5,354$4,230$3,309$2,567$1,977$635
23 years$5,067$3,956$3,055$2,338$1,774$534
24 years$4,805$3,707$2,826$2,132$1,595$450
25 years$4,563$3,478$2,617$1,947$1,435$380
26 years$4,341$3,269$2,427$1,780$1,293$320
27 years$4,135$3,077$2,254$1,630$1,166$270
28 years$3,945$2,899$2,095$1,493$1,052$228
29 years$3,768$2,735$1,950$1,369$950$192
30 years$3,603$2,583$1,816$1,257$858$162
31 years$3,449$2,442$1,693$1,154$776$137
32 years$3,305$2,310$1,580$1,061$702$116
33 years$3,170$2,188$1,475$975$635$98
34 years$3,043$2,074$1,378$897$575$83
35 years$2,924$1,967$1,289$826$521$70
36 years$2,811$1,867$1,205$761$472$59
37 years$2,705$1,773$1,128$701$428$50
38 years$2,605$1,685$1,057$646$388$42
39 years$2,510$1,602$990$596$352$36
40 years$2,420$1,524$928$550$319$30
41 years$2,335$1,451$870$507$289$25
42 years$2,253$1,382$816$468$263$21
43 years$2,176$1,317$766$432$238$18
44 years$2,103$1,255$719$399$216$15
45 years$2,033$1,197$675$368$196$13
46 years$1,966$1,142$634$340$178$11
47 years$1,903$1,090$596$314$162$9
48 years$1,842$1,040$560$290$147$8
49 years$1,784$993$526$268$134$7
50 years$1,728$949$495$248$121$6

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 $5,132 every year, while hoping to spend $50,026 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: 77/5/18 Blend
55$1,770,000$1,770,000$1,770,000$1,770,000
56$1,955,834$1,862,024$1,834,589$2,098,094
57$2,102,101$1,900,036$1,842,820$2,230,826
58$2,261,612$1,938,233$1,849,651$2,369,597
59$2,435,663$1,976,573$1,854,981$2,520,439
60$2,625,683$2,015,008$1,858,705$2,684,543
61$2,833,245$2,053,486$1,860,714$2,863,220
62$3,060,081$2,091,951$1,860,892$3,057,914
63$3,308,095$2,130,343$1,859,119$3,270,219
64$3,579,388$2,168,597$1,855,266$3,501,887
65$3,876,269$2,206,642$1,849,201$3,754,851
66$4,201,284$2,244,402$1,840,784$4,031,240
67$4,557,233$2,281,796$1,829,869$4,333,401
68$4,947,203$2,318,737$1,816,302$4,663,919
69$5,374,591$2,355,128$1,799,922$5,025,642
70$5,843,141$2,390,871$1,780,560$5,421,709
71$6,356,973$2,425,855$1,758,041$5,855,580
72$6,920,628$2,459,966$1,732,179$6,331,067
73$7,539,105$2,493,078$1,702,780$6,852,370
74$8,217,914$2,525,058$1,669,643$7,424,119
75$8,963,120$2,555,765$1,632,556$8,051,415
76$9,781,407$2,585,047$1,591,295$8,739,879
77$10,680,137$2,612,741$1,545,630$9,495,708
78$11,667,420$2,638,674$1,495,317$10,325,729
79$12,752,190$2,662,662$1,440,104$11,237,466
80$13,944,289$2,684,508$1,379,723$12,239,212
81$15,254,561$2,704,003$1,313,898$13,340,105
82$16,694,951$2,720,924$1,242,338$14,550,216
83$18,278,620$2,735,033$1,164,740$15,880,643
84$20,020,068$2,746,079$1,080,788$17,343,620
85$21,935,270$2,753,792$990,149$18,952,626
86$24,041,827$2,757,887$892,479$20,722,517
87$26,359,132$2,758,062$787,415$22,669,665
88$28,908,550$2,753,993$674,580$24,812,114
89$31,713,623$2,745,341$553,580$27,169,750
90$34,800,291$2,731,740$424,004$29,764,486
91$38,197,133$2,712,808$285,420$32,620,475
92$41,935,641$2,688,135$137,381$35,764,333
93$46,050,511$2,657,289$0$39,225,393
94$50,579,978$2,619,811$0$43,039,941
95$55,566,168$2,575,214$0$47,268,060
96$61,055,500$2,522,983$0$51,922,700
97$67,099,125$2,462,573$0$57,047,232
98$73,753,402$2,393,405$0$62,689,451
99$81,080,436$2,314,869$0$68,902,021
100$89,148,659$2,226,316$0$75,742,976