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

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 $2,010,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.7%
1 years$165,984$164,505$163,063$161,655$160,280$156,533
2 years$82,170$80,640$79,157$77,719$76,324$72,570
3 years$54,236$52,699$51,220$49,795$48,423$44,779
4 years$40,272$38,739$37,275$35,875$34,536$31,031
5 years$31,895$30,372$28,927$27,555$26,253$22,897
6 years$26,313$24,801$23,377$22,036$20,773$17,569
7 years$22,327$20,828$19,427$18,117$16,894$13,842
8 years$19,339$17,853$16,475$15,198$14,016$11,114
9 years$17,016$15,545$14,190$12,945$11,803$9,051
10 years$15,159$13,702$12,371$11,159$10,057$7,450
11 years$13,640$12,198$10,891$9,712$8,649$6,185
12 years$12,376$10,948$9,666$8,518$7,495$5,169
13 years$11,307$9,894$8,636$7,520$6,536$4,344
14 years$10,391$8,993$7,759$6,676$5,729$3,666
15 years$9,598$8,216$7,006$5,954$5,045$3,106
16 years$8,905$7,538$6,352$5,331$4,458$2,639
17 years$8,294$6,942$5,780$4,790$3,953$2,248
18 years$7,752$6,415$5,276$4,317$3,515$1,919
19 years$7,267$5,945$4,830$3,900$3,133$1,642
20 years$6,831$5,524$4,433$3,533$2,798$1,406
21 years$6,438$5,146$4,077$3,206$2,504$1,206
22 years$6,080$4,803$3,758$2,915$2,245$1,035
23 years$5,754$4,492$3,470$2,655$2,015$890
24 years$5,456$4,209$3,209$2,421$1,811$765
25 years$5,182$3,950$2,972$2,211$1,630$659
26 years$4,930$3,712$2,756$2,022$1,468$567
27 years$4,696$3,494$2,560$1,851$1,324$489
28 years$4,480$3,292$2,380$1,696$1,194$421
29 years$4,279$3,106$2,214$1,555$1,078$363
30 years$4,091$2,933$2,063$1,427$974$313
31 years$3,917$2,773$1,923$1,311$881$270
32 years$3,753$2,624$1,794$1,204$797$233
33 years$3,600$2,485$1,675$1,108$721$201
34 years$3,456$2,355$1,565$1,019$653$174
35 years$3,320$2,234$1,463$938$591$150
36 years$3,192$2,120$1,369$864$536$130
37 years$3,072$2,013$1,281$796$486$112
38 years$2,958$1,914$1,200$734$440$97
39 years$2,850$1,820$1,124$677$399$84
40 years$2,748$1,731$1,054$624$362$72
41 years$2,651$1,648$988$576$329$62
42 years$2,559$1,569$927$531$298$54
43 years$2,471$1,495$870$490$271$47
44 years$2,388$1,425$816$453$246$40
45 years$2,309$1,359$766$418$223$35
46 years$2,233$1,297$720$386$202$30
47 years$2,161$1,237$676$357$184$26
48 years$2,092$1,181$636$330$167$22
49 years$2,026$1,128$597$305$152$19
50 years$1,962$1,078$562$282$138$17

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 $4,565 every year, while hoping to spend $56,709 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: 80/11/9 Blend
55$2,010,000$2,010,000$2,010,000$2,010,000
56$2,219,729$2,113,199$2,082,044$2,393,992
57$2,385,803$2,156,408$2,091,454$2,552,119
58$2,566,917$2,199,833$2,099,279$2,717,699
59$2,764,543$2,243,426$2,105,406$2,897,703
60$2,980,305$2,287,132$2,109,716$3,093,545
61$3,215,989$2,330,894$2,112,084$3,306,781
62$3,473,561$2,374,649$2,112,380$3,539,126
63$3,755,185$2,418,328$2,110,466$3,792,469
64$4,063,246$2,461,859$2,106,199$4,068,887
65$4,400,368$2,505,160$2,099,427$4,370,673
66$4,769,440$2,548,148$2,089,993$4,700,349
67$5,173,645$2,590,730$2,077,730$5,060,696
68$5,616,488$2,632,806$2,062,464$5,454,774
69$6,101,827$2,674,270$2,044,014$5,885,958
70$6,633,912$2,715,009$2,022,188$6,357,963
71$7,217,426$2,754,899$1,996,786$6,874,885
72$7,857,525$2,793,810$1,967,599$7,441,235
73$8,559,887$2,831,601$1,934,408$8,061,983
74$9,330,768$2,868,122$1,896,983$8,742,606
75$10,177,058$2,903,213$1,855,085$9,489,138
76$11,106,349$2,936,701$1,808,461$10,308,227
77$12,127,001$2,968,404$1,756,849$11,207,200
78$13,248,226$2,998,126$1,699,974$12,194,129
79$14,480,170$3,025,659$1,637,548$13,277,909
80$15,834,012$3,050,781$1,569,270$14,468,343
81$17,322,067$3,073,255$1,494,827$15,776,230
82$18,957,903$3,092,830$1,413,888$17,213,473
83$20,756,467$3,109,237$1,326,112$18,793,187
84$22,734,227$3,122,190$1,231,137$20,529,825
85$24,909,328$3,131,387$1,128,590$22,439,312
86$27,301,760$3,136,506$1,018,079$24,539,199
87$29,933,548$3,137,203$899,193$26,848,826
88$32,828,959$3,133,115$771,505$29,389,506
89$36,014,731$3,123,856$634,568$32,184,724
90$39,520,325$3,109,016$487,917$35,260,364
91$43,378,199$3,088,159$331,064$38,644,946
92$47,624,121$3,060,824$163,500$42,369,901
93$52,297,499$3,026,523$0$46,469,869
94$57,441,757$2,984,735$0$50,984,490
95$63,104,742$2,934,913$0$55,971,210
96$69,339,175$2,876,473$0$61,460,724
97$76,203,149$2,808,798$0$67,504,175
98$83,760,677$2,731,236$0$74,157,922
99$92,082,294$2,643,094$0$81,484,069
100$101,245,724$2,543,642$0$89,551,052