Can I retire at age 56 with 2,010,000?

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 $2,010,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.4%
1 years$165,984$164,505$163,063$161,655$160,280$158,672
2 years$82,170$80,640$79,157$77,719$76,324$74,705
3 years$54,236$52,699$51,220$49,795$48,423$46,842
4 years$40,272$38,739$37,275$35,875$34,536$33,006
5 years$31,895$30,372$28,927$27,555$26,253$24,779
6 years$26,313$24,801$23,377$22,036$20,773$19,356
7 years$22,327$20,828$19,427$18,117$16,894$15,535
8 years$19,339$17,853$16,475$15,198$14,016$12,714
9 years$17,016$15,545$14,190$12,945$11,803$10,558
10 years$15,159$13,702$12,371$11,159$10,057$8,868
11 years$13,640$12,198$10,891$9,712$8,649$7,516
12 years$12,376$10,948$9,666$8,518$7,495$6,417
13 years$11,307$9,894$8,636$7,520$6,536$5,511
14 years$10,391$8,993$7,759$6,676$5,729$4,756
15 years$9,598$8,216$7,006$5,954$5,045$4,121
16 years$8,905$7,538$6,352$5,331$4,458$3,584
17 years$8,294$6,942$5,780$4,790$3,953$3,126
18 years$7,752$6,415$5,276$4,317$3,515$2,733
19 years$7,267$5,945$4,830$3,900$3,133$2,395
20 years$6,831$5,524$4,433$3,533$2,798$2,102
21 years$6,438$5,146$4,077$3,206$2,504$1,849
22 years$6,080$4,803$3,758$2,915$2,245$1,628
23 years$5,754$4,492$3,470$2,655$2,015$1,435
24 years$5,456$4,209$3,209$2,421$1,811$1,267
25 years$5,182$3,950$2,972$2,211$1,630$1,119
26 years$4,930$3,712$2,756$2,022$1,468$989
27 years$4,696$3,494$2,560$1,851$1,324$875
28 years$4,480$3,292$2,380$1,696$1,194$775
29 years$4,279$3,106$2,214$1,555$1,078$686
30 years$4,091$2,933$2,063$1,427$974$608
31 years$3,917$2,773$1,923$1,311$881$539
32 years$3,753$2,624$1,794$1,204$797$478
33 years$3,600$2,485$1,675$1,108$721$425
34 years$3,456$2,355$1,565$1,019$653$377
35 years$3,320$2,234$1,463$938$591$335
36 years$3,192$2,120$1,369$864$536$297
37 years$3,072$2,013$1,281$796$486$264
38 years$2,958$1,914$1,200$734$440$234
39 years$2,850$1,820$1,124$677$399$208
40 years$2,748$1,731$1,054$624$362$185
41 years$2,651$1,648$988$576$329$164
42 years$2,559$1,569$927$531$298$146
43 years$2,471$1,495$870$490$271$130
44 years$2,388$1,425$816$453$246$116
45 years$2,309$1,359$766$418$223$103
46 years$2,233$1,297$720$386$202$91
47 years$2,161$1,237$676$357$184$81
48 years$2,092$1,181$636$330$167$72
49 years$2,026$1,128$597$305$152$64
50 years$1,962$1,078$562$282$138$57

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $2,010,000, adding $2,653 every year, while hoping to spend $37,113 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: 63/19/18 Blend
55$2,010,000$2,010,000$2,010,000$2,010,000
56$2,217,757$2,111,227$2,080,072$2,347,226
57$2,404,480$2,175,189$2,110,266$2,498,587
58$2,609,005$2,241,041$2,140,228$2,659,379
59$2,833,109$2,308,837$2,169,911$2,834,101
60$3,078,747$2,378,632$2,199,265$3,024,115
61$3,348,076$2,450,481$2,228,236$3,230,918
62$3,643,468$2,524,443$2,256,771$3,456,159
63$3,967,538$2,600,577$2,284,808$3,701,653
64$4,323,164$2,678,943$2,312,287$3,969,400
65$4,713,519$2,759,603$2,339,141$4,261,603
66$5,142,096$2,842,622$2,365,300$4,580,686
67$5,612,743$2,928,064$2,390,691$4,929,322
68$6,129,700$3,015,996$2,415,237$5,310,452
69$6,697,638$3,106,488$2,438,855$5,727,317
70$7,321,700$3,199,609$2,461,460$6,183,487
71$8,007,555$3,295,431$2,482,960$6,682,895
72$8,761,447$3,394,029$2,503,261$7,229,873
73$9,590,255$3,495,477$2,522,260$7,829,193
74$10,501,559$3,599,853$2,539,854$8,486,113
75$11,503,708$3,707,236$2,555,929$9,206,426
76$12,605,902$3,817,707$2,570,369$9,996,513
77$13,818,279$3,931,349$2,583,051$10,863,405
78$15,152,004$4,048,246$2,593,844$11,814,848
79$16,619,384$4,168,485$2,602,613$12,859,377
80$18,233,976$4,292,156$2,609,215$14,006,396
81$20,010,717$4,419,347$2,613,500$15,266,267
82$21,966,068$4,550,153$2,615,310$16,650,405
83$24,118,164$4,684,667$2,614,480$18,171,389
84$26,486,987$4,822,987$2,610,836$19,843,081
85$29,094,557$4,965,210$2,604,196$21,680,752
86$31,965,135$5,111,438$2,594,369$23,701,232
87$35,125,454$5,261,774$2,581,156$25,923,064
88$38,604,972$5,416,322$2,564,346$28,366,681
89$42,436,147$5,575,190$2,543,719$31,054,598
90$46,654,746$5,738,487$2,519,046$34,011,627
91$51,300,181$5,906,323$2,490,085$37,265,106
92$56,415,880$6,078,814$2,456,583$40,845,162
93$62,049,697$6,256,073$2,418,276$44,784,992
94$68,254,364$6,438,219$2,374,887$49,121,179
95$75,087,989$6,625,371$2,326,125$53,894,033
96$82,614,601$6,817,652$2,271,688$59,147,977
97$90,904,759$7,015,185$2,211,258$64,931,963
98$100,036,212$7,218,096$2,144,502$71,299,931
99$110,094,637$7,426,514$2,071,074$78,311,326
100$121,174,445$7,640,569$1,990,610$86,031,653