Can I retire at age 56 with 2,030,000?

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 $2,030,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.1%
1 years$167,636$166,142$164,685$163,264$161,875$159,128
2 years$82,988$81,442$79,944$78,492$77,083$74,324
3 years$54,776$53,223$51,729$50,291$48,905$46,219
4 years$40,672$39,125$37,646$36,232$34,879$32,288
5 years$32,213$30,674$29,215$27,829$26,515$24,026
6 years$26,575$25,048$23,610$22,255$20,980$18,596
7 years$22,549$21,035$19,620$18,297$17,063$14,784
8 years$19,531$18,031$16,639$15,349$14,155$11,981
9 years$17,185$15,699$14,331$13,074$11,921$9,851
10 years$15,310$13,838$12,494$11,270$10,157$8,189
11 years$13,776$12,319$11,000$9,808$8,735$6,867
12 years$12,499$11,057$9,762$8,603$7,570$5,799
13 years$11,419$9,992$8,722$7,595$6,601$4,925
14 years$10,494$9,083$7,837$6,742$5,786$4,203
15 years$9,694$8,297$7,075$6,013$5,095$3,600
16 years$8,994$7,613$6,415$5,384$4,503$3,094
17 years$8,377$7,011$5,837$4,837$3,993$2,666
18 years$7,829$6,478$5,329$4,359$3,550$2,303
19 years$7,339$6,004$4,878$3,939$3,164$1,993
20 years$6,899$5,579$4,477$3,568$2,826$1,728
21 years$6,502$5,197$4,118$3,238$2,529$1,500
22 years$6,141$4,851$3,795$2,944$2,267$1,304
23 years$5,812$4,537$3,504$2,681$2,035$1,135
24 years$5,510$4,251$3,241$2,445$1,829$988
25 years$5,234$3,989$3,002$2,233$1,646$861
26 years$4,979$3,749$2,784$2,042$1,483$751
27 years$4,743$3,529$2,585$1,869$1,337$656
28 years$4,524$3,325$2,403$1,712$1,206$573
29 years$4,321$3,137$2,236$1,570$1,089$500
30 years$4,132$2,962$2,083$1,441$984$437
31 years$3,956$2,800$1,942$1,324$890$382
32 years$3,790$2,650$1,812$1,216$805$334
33 years$3,635$2,509$1,692$1,119$728$293
34 years$3,490$2,378$1,581$1,029$659$256
35 years$3,353$2,256$1,478$947$597$224
36 years$3,224$2,141$1,383$873$541$196
37 years$3,102$2,034$1,294$804$490$172
38 years$2,987$1,933$1,212$741$445$150
39 years$2,878$1,838$1,135$683$403$132
40 years$2,775$1,748$1,064$630$366$115
41 years$2,677$1,664$998$581$332$101
42 years$2,584$1,585$936$537$301$88
43 years$2,496$1,510$878$495$273$77
44 years$2,412$1,440$824$457$248$68
45 years$2,332$1,373$774$422$225$59
46 years$2,255$1,310$727$390$204$52
47 years$2,182$1,250$683$360$186$46
48 years$2,113$1,193$642$333$169$40
49 years$2,046$1,139$603$308$153$35
50 years$1,982$1,088$567$285$139$31

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $2,030,000, adding $2,334 every year, while hoping to spend $22,351 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: 58/18/24 Blend
55$2,030,000$2,030,000$2,030,000$2,030,000
56$2,239,468$2,131,878$2,100,413$2,354,722
57$2,444,112$2,212,558$2,146,995$2,514,302
58$2,668,881$2,296,443$2,194,389$2,685,617
59$2,915,804$2,383,666$2,242,598$2,871,926
60$3,187,115$2,474,365$2,291,625$3,074,685
61$3,485,279$2,568,687$2,341,472$3,295,496
62$3,813,007$2,666,782$2,392,141$3,536,121
63$4,173,289$2,768,809$2,443,632$3,798,502
64$4,569,417$2,874,934$2,495,947$4,084,774
65$5,005,019$2,985,327$2,549,083$4,397,289
66$5,484,093$3,100,170$2,603,039$4,738,634
67$6,011,041$3,219,650$2,657,812$5,111,660
68$6,590,718$3,343,962$2,713,399$5,519,504
69$7,228,467$3,473,313$2,769,794$5,965,621
70$7,930,180$3,607,914$2,826,991$6,453,813
71$8,702,347$3,747,991$2,884,984$6,988,270
72$9,552,118$3,893,774$2,943,762$7,573,604
73$10,487,373$4,045,508$3,003,317$8,214,894
74$11,516,794$4,203,446$3,063,637$8,917,736
75$12,649,946$4,367,855$3,124,708$9,688,290
76$13,897,371$4,539,010$3,186,516$10,533,342
77$15,270,683$4,717,201$3,249,045$11,460,366
78$16,782,679$4,902,731$3,312,275$12,477,595
79$18,447,463$5,095,915$3,376,186$13,594,097
80$20,280,572$5,297,083$3,440,756$14,819,860
81$22,299,129$5,506,579$3,505,961$16,165,888
82$24,522,003$5,724,764$3,571,773$17,644,301
83$26,969,983$5,952,013$3,638,163$19,268,453
84$29,665,979$6,188,720$3,705,099$21,053,051
85$32,635,236$6,435,294$3,772,548$23,014,301
86$35,905,573$6,692,166$3,840,470$25,170,055
87$39,507,642$6,959,783$3,908,826$27,539,980
88$43,475,222$7,238,613$3,977,573$30,145,744
89$47,845,537$7,529,147$4,046,664$33,011,219
90$52,659,603$7,831,897$4,116,048$36,162,706
91$57,962,619$8,147,396$4,185,672$39,629,182
92$63,804,392$8,476,204$4,255,479$43,442,574
93$70,239,808$8,818,906$4,325,405$47,638,057
94$77,329,349$9,176,113$4,395,386$52,254,387
95$85,139,662$9,548,463$4,465,352$57,334,268
96$93,744,194$9,936,623$4,535,227$62,924,750
97$103,223,876$10,341,292$4,604,932$69,077,674
98$113,667,896$10,763,201$4,674,382$75,850,162
99$125,174,535$11,203,110$4,743,487$83,305,152
100$137,852,095$11,661,820$4,812,151$91,511,996