Can I retire at age 56 with 1,790,000?

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 $1,790,000?

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$147,817$146,500$145,215$143,961$142,737$141,660
2 years$73,176$71,814$70,493$69,212$67,970$66,884
3 years$48,300$46,931$45,614$44,345$43,123$42,061
4 years$35,864$34,499$33,195$31,948$30,756$29,727
5 years$28,404$27,048$25,761$24,539$23,380$22,387
6 years$23,433$22,087$20,818$19,624$18,500$17,544
7 years$19,883$18,548$17,300$16,134$15,045$14,128
8 years$17,222$15,899$14,672$13,534$12,482$11,602
9 years$15,153$13,843$12,637$11,528$10,511$9,669
10 years$13,500$12,202$11,017$9,938$8,956$8,151
11 years$12,147$10,863$9,699$8,649$7,703$6,934
12 years$11,021$9,750$8,608$7,586$6,675$5,942
13 years$10,069$8,811$7,691$6,697$5,821$5,122
14 years$9,254$8,009$6,910$5,945$5,102$4,438
15 years$8,548$7,316$6,239$5,302$4,492$3,862
16 years$7,930$6,713$5,656$4,747$3,970$3,372
17 years$7,386$6,182$5,147$4,265$3,520$2,953
18 years$6,903$5,713$4,699$3,844$3,130$2,593
19 years$6,472$5,294$4,301$3,473$2,790$2,282
20 years$6,084$4,920$3,948$3,146$2,492$2,012
21 years$5,733$4,583$3,631$2,855$2,230$1,777
22 years$5,415$4,278$3,347$2,596$1,999$1,572
23 years$5,125$4,001$3,090$2,364$1,794$1,392
24 years$4,859$3,748$2,858$2,156$1,613$1,234
25 years$4,615$3,518$2,647$1,969$1,451$1,096
26 years$4,390$3,306$2,455$1,801$1,307$973
27 years$4,182$3,111$2,279$1,648$1,179$865
28 years$3,990$2,932$2,119$1,510$1,064$770
29 years$3,810$2,766$1,972$1,385$960$685
30 years$3,644$2,612$1,837$1,271$868$610
31 years$3,488$2,469$1,712$1,167$785$544
32 years$3,342$2,336$1,598$1,073$710$485
33 years$3,206$2,213$1,492$986$642$432
34 years$3,077$2,097$1,394$908$581$385
35 years$2,957$1,989$1,303$835$527$344
36 years$2,843$1,888$1,219$769$477$307
37 years$2,736$1,793$1,141$709$432$274
38 years$2,634$1,704$1,069$653$392$245
39 years$2,538$1,620$1,001$602$356$219
40 years$2,447$1,542$938$556$323$195
41 years$2,361$1,468$880$513$293$174
42 years$2,279$1,398$825$473$265$156
43 years$2,201$1,332$774$437$241$139
44 years$2,127$1,269$727$403$219$124
45 years$2,056$1,210$683$372$199$111
46 years$1,989$1,155$641$344$180$99
47 years$1,924$1,102$602$318$164$89
48 years$1,863$1,052$566$294$149$79
49 years$1,804$1,005$532$271$135$71
50 years$1,748$960$500$251$123$63

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $1,790,000, adding $2,785 every year, while hoping to spend $39,108 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: 86/9/5 Blend
55$1,790,000$1,790,000$1,790,000$1,790,000
56$1,975,453$1,880,583$1,852,838$2,145,198
57$2,135,338$1,931,121$1,873,297$2,306,726
58$2,310,221$1,982,824$1,893,131$2,478,495
59$2,501,591$2,035,709$1,912,278$2,665,969
60$2,711,085$2,089,791$1,930,671$2,870,698
61$2,940,509$2,145,084$1,948,242$3,094,391
62$3,191,851$2,201,603$1,964,918$3,338,929
63$3,467,298$2,259,361$1,980,622$3,606,385
64$3,769,263$2,318,370$1,995,273$3,899,039
65$4,100,400$2,378,641$2,008,786$4,219,405
66$4,463,632$2,440,187$2,021,072$4,570,250
67$4,862,182$2,503,015$2,032,037$4,954,625
68$5,299,596$2,567,134$2,041,582$5,375,885
69$5,779,783$2,632,552$2,049,603$5,837,732
70$6,307,047$2,699,273$2,055,991$6,344,238
71$6,886,131$2,767,302$2,060,632$6,899,894
72$7,522,258$2,836,642$2,063,404$7,509,643
73$8,221,182$2,907,291$2,064,183$8,178,934
74$8,989,244$2,979,250$2,062,834$8,913,767
75$9,833,427$3,052,514$2,059,220$9,720,755
76$10,761,427$3,127,077$2,053,193$10,607,182
77$11,781,720$3,202,931$2,044,602$11,581,073
78$12,903,645$3,280,064$2,033,287$12,651,270
79$14,137,492$3,358,463$2,019,077$13,827,515
80$15,494,599$3,438,111$2,001,799$15,120,542
81$16,987,456$3,518,986$1,981,267$16,542,178
82$18,629,825$3,601,065$1,957,288$18,105,453
83$20,436,870$3,684,319$1,929,660$19,824,725
84$22,425,298$3,768,718$1,898,170$21,715,813
85$24,613,517$3,854,224$1,862,598$23,796,151
86$27,021,810$3,940,796$1,822,710$26,084,944
87$29,672,528$4,028,388$1,778,264$28,603,357
88$32,590,295$4,116,948$1,729,005$31,374,711
89$35,802,247$4,206,420$1,674,668$34,424,703
90$39,338,282$4,296,740$1,614,975$37,781,647
91$43,231,344$4,387,838$1,549,634$41,476,747
92$47,517,736$4,479,637$1,478,342$45,544,382
93$52,237,460$4,572,054$1,400,781$50,022,440
94$57,434,592$4,664,996$1,316,619$54,952,667
95$63,157,702$4,758,363$1,225,507$60,381,067
96$69,460,310$4,852,045$1,127,084$66,358,333
97$76,401,391$4,945,924$1,020,970$72,940,325
98$84,045,930$5,039,871$906,770$80,188,601
99$92,465,537$5,133,747$784,069$88,170,992
100$101,739,122$5,227,401$652,436$96,962,246