Can I retire at age 56 with 2,000,000?

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 $2,000,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.7%
1 years$165,158$163,687$162,252$160,851$159,483$158,345
2 years$81,761$80,239$78,763$77,332$75,944$74,797
3 years$53,966$52,437$50,965$49,547$48,182$47,061
4 years$40,071$38,547$37,089$35,696$34,364$33,277
5 years$31,737$30,221$28,783$27,418$26,123$25,074
6 years$26,182$24,678$23,261$21,926$20,670$19,661
7 years$22,216$20,724$19,330$18,027$16,810$15,840
8 years$19,243$17,765$16,393$15,122$13,946$13,016
9 years$16,931$15,467$14,120$12,881$11,744$10,854
10 years$15,083$13,634$12,310$11,103$10,007$9,155
11 years$13,572$12,137$10,837$9,663$8,606$7,793
12 years$12,314$10,894$9,618$8,476$7,458$6,682
13 years$11,250$9,845$8,593$7,483$6,503$5,764
14 years$10,339$8,949$7,721$6,643$5,701$4,998
15 years$9,550$8,175$6,971$5,924$5,020$4,351
16 years$8,861$7,500$6,320$5,304$4,436$3,802
17 years$8,253$6,907$5,751$4,766$3,934$3,332
18 years$7,713$6,383$5,250$4,295$3,497$2,928
19 years$7,231$5,915$4,806$3,881$3,117$2,579
20 years$6,797$5,497$4,411$3,515$2,785$2,275
21 years$6,406$5,120$4,057$3,190$2,492$2,011
22 years$6,050$4,779$3,739$2,900$2,234$1,780
23 years$5,726$4,470$3,452$2,642$2,005$1,578
24 years$5,429$4,188$3,193$2,409$1,802$1,400
25 years$5,156$3,930$2,957$2,200$1,622$1,244
26 years$4,905$3,694$2,743$2,012$1,461$1,106
27 years$4,673$3,476$2,547$1,841$1,317$984
28 years$4,458$3,276$2,368$1,687$1,188$876
29 years$4,258$3,090$2,203$1,547$1,073$780
30 years$4,071$2,919$2,052$1,420$970$695
31 years$3,897$2,759$1,913$1,304$877$620
32 years$3,734$2,611$1,785$1,198$793$553
33 years$3,582$2,472$1,667$1,102$718$494
34 years$3,438$2,343$1,557$1,014$650$441
35 years$3,304$2,222$1,456$933$588$394
36 years$3,176$2,109$1,362$860$533$352
37 years$3,057$2,003$1,275$792$483$314
38 years$2,943$1,904$1,194$730$438$281
39 years$2,836$1,811$1,119$673$397$251
40 years$2,734$1,723$1,048$621$360$224
41 years$2,638$1,640$983$573$327$201
42 years$2,546$1,562$922$529$297$179
43 years$2,459$1,488$865$488$269$160
44 years$2,376$1,418$812$451$244$143
45 years$2,297$1,352$763$416$222$128
46 years$2,222$1,290$716$384$201$115
47 years$2,150$1,231$673$355$183$103
48 years$2,081$1,175$632$328$166$92
49 years$2,016$1,122$594$303$151$82
50 years$1,953$1,072$559$280$137$74

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $2,000,000, adding $5,638 every year, while hoping to spend $28,303 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: 75/15/10 Blend
55$2,000,000$2,000,000$2,000,000$2,000,000
56$2,209,816$2,103,816$2,072,816$2,371,166
57$2,405,103$2,176,788$2,112,141$2,551,251
58$2,619,360$2,252,388$2,151,835$2,744,415
59$2,854,494$2,330,714$2,191,880$2,955,302
60$3,112,602$2,411,868$2,232,257$3,185,659
61$3,395,995$2,495,958$2,272,946$3,437,411
62$3,707,221$2,583,095$2,313,925$3,712,679
63$4,049,085$2,673,393$2,355,168$4,013,797
64$4,424,676$2,766,974$2,396,650$4,343,334
65$4,837,398$2,863,961$2,438,343$4,704,122
66$5,291,002$2,964,485$2,480,218$5,099,277
67$5,789,620$3,068,680$2,522,241$5,532,233
68$6,337,804$3,176,688$2,564,378$6,006,769
69$6,940,568$3,288,654$2,606,593$6,527,050
70$7,603,438$3,404,730$2,648,845$7,097,664
71$8,332,500$3,525,073$2,691,094$7,723,660
72$9,134,463$3,649,850$2,733,293$8,410,605
73$10,016,716$3,779,229$2,775,396$9,164,628
74$10,987,400$3,913,391$2,817,351$9,992,480
75$12,055,487$4,052,519$2,859,104$10,901,601
76$13,230,860$4,196,807$2,900,598$11,900,184
77$14,524,412$4,346,454$2,941,772$12,997,256
78$15,948,143$4,501,671$2,982,562$14,202,762
79$17,515,274$4,662,674$3,022,899$15,527,658
80$19,240,376$4,829,689$3,062,710$16,984,012
81$21,139,503$5,002,952$3,101,919$18,585,125
82$23,230,344$5,182,708$3,140,445$20,345,645
83$25,532,390$5,369,212$3,178,201$22,281,715
84$28,067,121$5,562,731$3,215,098$24,411,118
85$30,858,203$5,763,540$3,251,039$26,753,451
86$33,931,715$5,971,929$3,285,924$29,330,300
87$37,316,393$6,188,196$3,319,646$32,165,455
88$41,043,903$6,412,656$3,352,092$35,285,124
89$45,149,138$6,645,633$3,383,144$38,718,185
90$49,670,548$6,887,467$3,412,677$42,496,458
91$54,650,501$7,138,510$3,440,559$46,655,004
92$60,135,688$7,399,132$3,466,653$51,232,453
93$66,177,554$7,669,716$3,490,813$56,271,374
94$72,832,794$7,950,662$3,512,884$61,818,670
95$80,163,880$8,242,385$3,532,706$67,926,024
96$88,239,654$8,545,320$3,550,110$74,650,386
97$97,135,977$8,859,919$3,564,917$82,054,507
98$106,936,445$9,186,654$3,576,941$90,207,534
99$117,733,178$9,526,016$3,585,984$99,185,662
100$129,627,688$9,878,516$3,591,840$109,072,850