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

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 $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%17.2%
1 years$165,158$163,687$162,252$160,851$159,483$154,812
2 years$81,761$80,239$78,763$77,332$75,944$71,276
3 years$53,966$52,437$50,965$49,547$48,182$43,663
4 years$40,071$38,547$37,089$35,696$34,364$30,029
5 years$31,737$30,221$28,783$27,418$26,123$21,984
6 years$26,182$24,678$23,261$21,926$20,670$16,730
7 years$22,216$20,724$19,330$18,027$16,810$13,070
8 years$19,243$17,765$16,393$15,122$13,946$10,402
9 years$16,931$15,467$14,120$12,881$11,744$8,394
10 years$15,083$13,634$12,310$11,103$10,007$6,846
11 years$13,572$12,137$10,837$9,663$8,606$5,629
12 years$12,314$10,894$9,618$8,476$7,458$4,658
13 years$11,250$9,845$8,593$7,483$6,503$3,875
14 years$10,339$8,949$7,721$6,643$5,701$3,237
15 years$9,550$8,175$6,971$5,924$5,020$2,714
16 years$8,861$7,500$6,320$5,304$4,436$2,281
17 years$8,253$6,907$5,751$4,766$3,934$1,922
18 years$7,713$6,383$5,250$4,295$3,497$1,623
19 years$7,231$5,915$4,806$3,881$3,117$1,373
20 years$6,797$5,497$4,411$3,515$2,785$1,162
21 years$6,406$5,120$4,057$3,190$2,492$985
22 years$6,050$4,779$3,739$2,900$2,234$836
23 years$5,726$4,470$3,452$2,642$2,005$710
24 years$5,429$4,188$3,193$2,409$1,802$604
25 years$5,156$3,930$2,957$2,200$1,622$513
26 years$4,905$3,694$2,743$2,012$1,461$437
27 years$4,673$3,476$2,547$1,841$1,317$372
28 years$4,458$3,276$2,368$1,687$1,188$317
29 years$4,258$3,090$2,203$1,547$1,073$270
30 years$4,071$2,919$2,052$1,420$970$230
31 years$3,897$2,759$1,913$1,304$877$196
32 years$3,734$2,611$1,785$1,198$793$167
33 years$3,582$2,472$1,667$1,102$718$142
34 years$3,438$2,343$1,557$1,014$650$121
35 years$3,304$2,222$1,456$933$588$103
36 years$3,176$2,109$1,362$860$533$88
37 years$3,057$2,003$1,275$792$483$75
38 years$2,943$1,904$1,194$730$438$64
39 years$2,836$1,811$1,119$673$397$55
40 years$2,734$1,723$1,048$621$360$47
41 years$2,638$1,640$983$573$327$40
42 years$2,546$1,562$922$529$297$34
43 years$2,459$1,488$865$488$269$29
44 years$2,376$1,418$812$451$244$25
45 years$2,297$1,352$763$416$222$21
46 years$2,222$1,290$716$384$201$18
47 years$2,150$1,231$673$355$183$15
48 years$2,081$1,175$632$328$166$13
49 years$2,016$1,122$594$303$151$11
50 years$1,953$1,072$559$280$137$10

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 $4,061 every year, while hoping to spend $45,526 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: 64/28/8 Blend
55$2,000,000$2,000,000$2,000,000$2,000,000
56$2,208,189$2,102,189$2,071,189$2,345,750
57$2,384,985$2,156,757$2,092,134$2,492,499
58$2,578,288$2,212,473$2,112,256$2,646,985
59$2,789,735$2,269,345$2,131,477$2,814,536
60$3,021,125$2,327,380$2,149,719$2,996,418
61$3,274,443$2,386,585$2,166,898$3,194,025
62$3,551,871$2,446,963$2,182,924$3,408,890
63$3,855,816$2,508,518$2,197,706$3,642,704
64$4,188,925$2,571,251$2,211,145$3,897,326
65$4,554,115$2,635,162$2,223,138$4,174,806
66$4,954,599$2,700,250$2,233,578$4,477,400
67$5,393,916$2,766,509$2,242,350$4,807,593
68$5,875,962$2,833,935$2,249,335$5,168,122
69$6,405,030$2,902,518$2,254,409$5,562,002
70$6,985,850$2,972,248$2,257,438$5,992,555
71$7,623,630$3,043,112$2,258,285$6,463,439
72$8,324,108$3,115,092$2,256,806$6,978,684
73$9,093,605$3,188,169$2,252,847$7,542,731
74$9,939,084$3,262,321$2,246,249$8,160,470
75$10,868,218$3,337,522$2,236,845$8,837,290
76$11,889,456$3,413,740$2,224,459$9,579,130
77$13,012,110$3,490,943$2,208,908$10,392,530
78$14,246,437$3,569,092$2,189,999$11,284,699
79$15,603,740$3,648,143$2,167,529$12,263,577
80$17,096,468$3,728,049$2,141,288$13,337,915
81$18,738,341$3,808,756$2,111,055$14,517,355
82$20,544,472$3,890,206$2,076,596$15,812,521
83$22,531,517$3,972,334$2,037,670$17,235,118
84$24,717,822$4,055,069$1,994,022$18,798,047
85$27,123,605$4,138,333$1,945,387$20,515,520
86$29,771,142$4,222,040$1,891,487$22,403,202
87$32,684,976$4,306,098$1,832,030$24,478,352
88$35,892,153$4,390,407$1,766,712$26,759,988
89$39,422,472$4,474,855$1,695,216$29,269,070
90$43,308,766$4,559,325$1,617,208$32,028,693
91$47,587,216$4,643,688$1,532,341$35,064,307
92$52,297,689$4,727,805$1,440,250$38,403,960
93$57,484,111$4,811,526$1,340,557$42,078,557
94$63,194,889$4,894,689$1,232,864$46,122,157
95$69,483,359$4,977,120$1,116,756$50,572,294
96$76,408,294$5,058,632$991,800$55,470,327
97$84,034,459$5,139,023$857,544$60,861,839
98$92,433,216$5,218,078$713,514$66,797,057
99$101,683,205$5,295,565$559,218$73,331,336
100$111,871,080$5,371,235$394,139$80,525,675