Can I retire at age 56 with 1,730,000?

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 $1,730,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.3%
1 years$142,862$141,589$140,348$139,136$137,953$133,858
2 years$70,724$69,406$68,130$66,892$65,692$61,601
3 years$46,681$45,358$44,085$42,859$41,678$37,718
4 years$34,662$33,343$32,082$30,877$29,725$25,927
5 years$27,452$26,141$24,897$23,717$22,596$18,971
6 years$22,647$21,346$20,121$18,966$17,880$14,429
7 years$19,217$17,927$16,720$15,593$14,541$11,266
8 years$16,645$15,366$14,180$13,081$12,063$8,961
9 years$14,646$13,379$12,213$11,142$10,159$7,227
10 years$13,047$11,793$10,648$9,604$8,656$5,890
11 years$11,740$10,499$9,374$8,359$7,444$4,840
12 years$10,652$9,423$8,319$7,332$6,451$4,003
13 years$9,732$8,516$7,433$6,473$5,626$3,328
14 years$8,943$7,741$6,678$5,746$4,931$2,778
15 years$8,261$7,071$6,030$5,124$4,342$2,327
16 years$7,665$6,488$5,467$4,588$3,837$1,955
17 years$7,139$5,975$4,975$4,123$3,402$1,646
18 years$6,672$5,521$4,541$3,715$3,025$1,389
19 years$6,255$5,117$4,157$3,357$2,697$1,174
20 years$5,880$4,755$3,815$3,040$2,409$993
21 years$5,541$4,429$3,509$2,759$2,155$841
22 years$5,233$4,134$3,234$2,509$1,932$713
23 years$4,953$3,867$2,986$2,285$1,734$605
24 years$4,696$3,623$2,762$2,084$1,559$514
25 years$4,460$3,400$2,558$1,903$1,403$437
26 years$4,243$3,195$2,372$1,740$1,264$371
27 years$4,042$3,007$2,203$1,593$1,139$316
28 years$3,856$2,834$2,048$1,459$1,028$269
29 years$3,683$2,673$1,906$1,338$928$229
30 years$3,522$2,525$1,775$1,228$839$195
31 years$3,371$2,387$1,655$1,128$758$166
32 years$3,230$2,258$1,544$1,037$686$141
33 years$3,098$2,139$1,442$953$621$120
34 years$2,974$2,027$1,347$877$562$102
35 years$2,858$1,922$1,259$807$509$87
36 years$2,748$1,825$1,178$744$461$74
37 years$2,644$1,733$1,103$685$418$63
38 years$2,546$1,647$1,033$632$379$54
39 years$2,453$1,566$968$582$344$46
40 years$2,365$1,490$907$537$312$39
41 years$2,282$1,418$850$496$283$33
42 years$2,203$1,351$798$457$257$28
43 years$2,127$1,287$748$422$233$24
44 years$2,055$1,227$703$390$211$21
45 years$1,987$1,170$660$360$192$18
46 years$1,922$1,116$620$333$174$15
47 years$1,860$1,065$582$307$158$13
48 years$1,800$1,017$547$284$144$11
49 years$1,743$971$514$262$130$9
50 years$1,689$927$483$242$119$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $1,730,000, adding $4,830 every year, while hoping to spend $44,615 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: 68/19/13 Blend
55$1,730,000$1,730,000$1,730,000$1,730,000
56$1,911,442$1,819,752$1,792,937$2,035,530
57$2,058,939$1,861,450$1,805,531$2,160,416
58$2,219,986$1,903,696$1,817,050$2,291,189
59$2,395,917$1,946,469$1,827,414$2,433,070
60$2,588,201$1,989,747$1,836,534$2,587,144
61$2,798,458$2,033,505$1,844,318$2,754,605
62$3,028,468$2,077,714$1,850,670$2,936,771
63$3,280,193$2,122,343$1,855,488$3,135,091
64$3,555,793$2,167,358$1,858,667$3,351,163
65$3,857,646$2,212,721$1,860,095$3,586,747
66$4,188,372$2,258,390$1,859,654$3,843,782
67$4,550,855$2,304,321$1,857,221$4,124,404
68$4,948,272$2,350,462$1,852,668$4,430,967
69$5,384,123$2,396,762$1,845,860$4,766,063
70$5,862,260$2,443,161$1,836,653$5,132,552
71$6,386,930$2,489,595$1,824,901$5,533,580
72$6,962,808$2,535,996$1,810,446$5,972,618
73$7,595,045$2,582,290$1,793,126$6,453,488
74$8,289,314$2,628,396$1,772,770$6,980,403
75$9,051,864$2,674,228$1,749,198$7,558,007
76$9,889,582$2,719,693$1,722,224$8,191,413
77$10,810,051$2,764,690$1,691,650$8,886,260
78$11,821,627$2,809,111$1,657,272$9,648,761
79$12,933,517$2,852,841$1,618,874$10,485,761
80$14,155,860$2,895,755$1,576,231$11,404,806
81$15,499,832$2,937,720$1,529,108$12,414,211
82$16,977,740$2,978,594$1,477,259$13,523,138
83$18,603,149$3,018,224$1,420,426$14,741,686
84$20,391,000$3,056,447$1,358,340$16,080,985
85$22,357,757$3,093,088$1,290,720$17,553,299
86$24,521,560$3,127,961$1,217,270$19,172,144
87$26,902,395$3,160,868$1,137,685$20,952,418
88$29,522,284$3,191,595$1,051,642$22,910,537
89$32,405,491$3,219,917$958,806$25,064,593
90$35,578,750$3,245,592$858,825$27,434,526
91$39,071,521$3,268,365$751,335$30,042,312
92$42,916,263$3,287,961$635,951$32,912,167
93$47,148,740$3,304,090$512,274$36,070,782
94$51,808,364$3,316,442$379,887$39,547,571
95$56,938,558$3,324,689$238,354$43,374,953
96$62,587,173$3,328,480$87,221$47,588,652
97$68,806,934$3,327,446$0$52,228,044
98$75,655,941$3,321,190$0$57,346,792
99$83,198,213$3,309,295$0$62,996,025
100$91,504,297$3,291,316$0$69,216,406