Can I retire at age 56 with 1,700,000?

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 $1,700,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.3%
1 years$140,384$139,134$137,914$136,723$135,560$134,819
2 years$69,497$68,203$66,949$65,732$64,553$63,805
3 years$45,871$44,571$43,320$42,115$40,955$40,223
4 years$34,061$32,765$31,526$30,342$29,209$28,500
5 years$26,976$25,688$24,465$23,305$22,204$21,519
6 years$22,255$20,976$19,772$18,637$17,570$16,909
7 years$18,883$17,616$16,430$15,323$14,289$13,654
8 years$16,356$15,100$13,934$12,854$11,854$11,245
9 years$14,392$13,147$12,002$10,949$9,983$9,399
10 years$12,821$11,589$10,463$9,438$8,506$7,947
11 years$11,537$10,317$9,212$8,214$7,315$6,781
12 years$10,467$9,260$8,175$7,205$6,339$5,829
13 years$9,563$8,368$7,304$6,361$5,528$5,041
14 years$8,788$7,606$6,563$5,646$4,846$4,382
15 years$8,118$6,949$5,925$5,035$4,267$3,826
16 years$7,532$6,375$5,372$4,509$3,771$3,352
17 years$7,015$5,871$4,888$4,051$3,343$2,946
18 years$6,556$5,425$4,462$3,651$2,973$2,596
19 years$6,146$5,028$4,085$3,299$2,650$2,292
20 years$5,778$4,672$3,749$2,988$2,367$2,029
21 years$5,445$4,352$3,448$2,712$2,118$1,798
22 years$5,142$4,063$3,178$2,465$1,899$1,597
23 years$4,867$3,800$2,935$2,245$1,704$1,419
24 years$4,615$3,560$2,714$2,048$1,532$1,263
25 years$4,383$3,341$2,514$1,870$1,378$1,126
26 years$4,169$3,140$2,331$1,710$1,242$1,004
27 years$3,972$2,955$2,165$1,565$1,119$896
28 years$3,789$2,784$2,013$1,434$1,010$800
29 years$3,619$2,627$1,873$1,315$912$715
30 years$3,460$2,481$1,744$1,207$824$639
31 years$3,313$2,345$1,626$1,108$745$572
32 years$3,174$2,219$1,517$1,019$674$512
33 years$3,044$2,101$1,417$937$610$459
34 years$2,923$1,992$1,324$862$552$411
35 years$2,808$1,889$1,238$793$500$368
36 years$2,700$1,793$1,158$731$453$330
37 years$2,598$1,703$1,084$673$411$296
38 years$2,502$1,618$1,015$621$372$265
39 years$2,411$1,539$951$572$338$238
40 years$2,324$1,464$891$528$306$213
41 years$2,242$1,394$836$487$278$191
42 years$2,164$1,327$784$449$252$172
43 years$2,090$1,265$736$415$229$154
44 years$2,020$1,206$690$383$208$138
45 years$1,953$1,150$648$354$189$124
46 years$1,889$1,097$609$327$171$111
47 years$1,828$1,047$572$302$155$100
48 years$1,769$999$538$279$141$90
49 years$1,713$954$505$258$128$81
50 years$1,660$911$475$238$116$72

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $1,700,000, adding $5,504 every year, while hoping to spend $45,950 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: 68/18/14 Blend
55$1,700,000$1,700,000$1,700,000$1,700,000
56$1,879,077$1,788,977$1,762,627$2,000,464
57$2,021,853$1,827,747$1,772,785$2,120,767
58$2,177,651$1,866,876$1,781,743$2,246,328
59$2,347,753$1,906,334$1,789,412$2,382,487
60$2,533,566$1,946,086$1,795,700$2,530,279
61$2,736,642$1,986,097$1,800,508$2,690,847
62$2,958,688$2,026,324$1,803,733$2,865,446
63$3,201,584$2,066,724$1,805,269$3,055,463
64$3,467,401$2,107,249$1,805,001$3,262,422
65$3,758,418$2,147,846$1,802,810$3,488,005
66$4,077,145$2,188,459$1,798,572$3,734,065
67$4,426,345$2,229,025$1,792,157$4,002,643
68$4,809,065$2,269,480$1,783,426$4,295,987
69$5,228,655$2,309,750$1,772,237$4,616,575
70$5,688,810$2,349,760$1,758,438$4,967,140
71$6,193,595$2,389,425$1,741,872$5,350,690
72$6,747,491$2,428,656$1,722,374$5,770,541
73$7,355,432$2,467,357$1,699,771$6,230,348
74$8,022,854$2,505,425$1,673,881$6,734,138
75$8,755,743$2,542,749$1,644,514$7,286,351
76$9,560,696$2,579,210$1,611,472$7,891,877
77$10,444,977$2,614,682$1,574,547$8,556,107
78$11,416,592$2,649,029$1,533,521$9,284,983
79$12,484,357$2,682,104$1,488,168$10,085,052
80$13,657,988$2,713,754$1,438,247$10,963,529
81$14,948,186$2,743,811$1,383,512$11,928,368
82$16,366,743$2,772,099$1,323,701$12,988,334
83$17,926,648$2,798,429$1,258,543$14,153,085
84$19,642,214$2,822,601$1,187,752$15,433,269
85$21,529,210$2,844,398$1,111,032$16,840,619
86$23,605,010$2,863,594$1,028,072$18,388,065
87$25,888,755$2,879,945$938,547$20,089,860
88$28,401,538$2,893,191$842,117$21,961,712
89$31,166,597$2,903,059$738,430$24,020,930
90$34,209,536$2,909,256$627,114$26,286,596
91$37,558,570$2,911,471$507,784$28,779,735
92$41,244,785$2,909,373$380,035$31,523,523
93$45,302,433$2,902,613$243,447$34,543,501
94$49,769,259$2,890,818$97,579$37,867,818
95$54,686,848$2,873,594$0$41,527,499
96$60,101,027$2,850,520$0$45,565,410
97$66,062,291$2,821,154$0$50,026,678
98$72,626,278$2,785,025$0$54,938,317
99$79,854,300$2,741,632$0$60,346,174
100$87,813,914$2,690,448$0$66,300,776