Can I retire at age 56 with 2,050,000?

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 $2,050,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.7%
1 years$169,287$167,779$166,308$164,872$163,470$157,733
2 years$83,805$82,245$80,732$79,265$77,843$72,123
3 years$55,315$53,748$52,239$50,786$49,387$43,864
4 years$41,073$39,510$38,017$36,589$35,223$29,939
5 years$32,530$30,977$29,502$28,104$26,776$21,745
6 years$26,836$25,295$23,842$22,475$21,187$16,413
7 years$22,771$21,242$19,813$18,478$17,231$12,713
8 years$19,724$18,209$16,803$15,500$14,294$10,029
9 years$17,355$15,854$14,472$13,203$12,038$8,020
10 years$15,460$13,974$12,617$11,381$10,257$6,479
11 years$13,912$12,441$11,108$9,905$8,821$5,276
12 years$12,622$11,166$9,858$8,688$7,644$4,323
13 years$11,532$10,091$8,808$7,670$6,666$3,559
14 years$10,598$9,172$7,914$6,809$5,843$2,943
15 years$9,789$8,379$7,145$6,072$5,145$2,441
16 years$9,082$7,688$6,478$5,437$4,547$2,030
17 years$8,459$7,080$5,895$4,885$4,032$1,692
18 years$7,906$6,542$5,381$4,402$3,585$1,412
19 years$7,412$6,063$4,926$3,978$3,195$1,181
20 years$6,967$5,634$4,521$3,603$2,854$989
21 years$6,566$5,248$4,158$3,270$2,554$829
22 years$6,201$4,899$3,833$2,973$2,289$695
23 years$5,869$4,582$3,539$2,708$2,055$583
24 years$5,565$4,293$3,273$2,469$1,847$490
25 years$5,285$4,029$3,031$2,255$1,662$412
26 years$5,028$3,786$2,811$2,062$1,497$346
27 years$4,790$3,563$2,611$1,887$1,350$291
28 years$4,569$3,358$2,427$1,729$1,218$245
29 years$4,364$3,168$2,258$1,586$1,100$206
30 years$4,173$2,992$2,104$1,455$994$173
31 years$3,995$2,828$1,961$1,337$898$146
32 years$3,828$2,676$1,830$1,228$813$123
33 years$3,671$2,534$1,708$1,130$736$103
34 years$3,524$2,402$1,596$1,039$666$87
35 years$3,386$2,278$1,492$957$603$73
36 years$3,256$2,162$1,396$881$546$62
37 years$3,133$2,054$1,307$812$495$52
38 years$3,017$1,952$1,224$748$449$44
39 years$2,907$1,856$1,146$690$407$37
40 years$2,803$1,766$1,075$636$369$31
41 years$2,704$1,681$1,008$587$335$26
42 years$2,610$1,601$945$542$304$22
43 years$2,521$1,525$887$500$276$19
44 years$2,436$1,454$833$462$250$16
45 years$2,355$1,386$782$427$227$13
46 years$2,277$1,322$734$394$206$11
47 years$2,204$1,262$690$364$187$9
48 years$2,133$1,205$648$336$170$8
49 years$2,066$1,150$609$311$155$7
50 years$2,002$1,099$573$287$140$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $2,050,000, adding $2,547 every year, while hoping to spend $54,145 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: 45/36/19 Blend
55$2,050,000$2,050,000$2,050,000$2,050,000
56$2,261,727$2,153,077$2,121,302$2,351,044
57$2,434,814$2,200,968$2,134,756$2,461,816
58$2,623,740$2,249,391$2,146,846$2,576,292
59$2,830,065$2,298,315$2,157,469$2,699,301
60$3,055,504$2,347,705$2,166,517$2,831,660
61$3,301,947$2,397,523$2,173,876$2,974,268
62$3,571,472$2,447,729$2,179,427$3,128,119
63$3,866,370$2,498,275$2,183,046$3,294,306
64$4,189,161$2,549,112$2,184,600$3,474,034
65$4,542,623$2,600,186$2,183,951$3,668,633
66$4,929,811$2,651,436$2,180,954$3,879,569
67$5,354,094$2,702,799$2,175,458$4,108,456
68$5,819,180$2,754,203$2,167,304$4,357,076
69$6,329,151$2,805,575$2,156,324$4,627,393
70$6,888,507$2,856,830$2,142,343$4,921,572
71$7,502,201$2,907,881$2,125,178$5,242,001
72$8,175,690$2,958,632$2,104,636$5,591,312
73$8,914,986$3,008,980$2,080,517$5,972,408
74$9,726,709$3,058,815$2,052,608$6,388,489
75$10,618,153$3,108,017$2,020,691$6,843,085
76$11,597,354$3,156,458$1,984,533$7,340,085
77$12,673,161$3,204,002$1,943,892$7,883,781
78$13,855,326$3,250,501$1,898,515$8,478,902
79$15,154,592$3,295,798$1,848,138$9,130,665
80$16,582,792$3,339,724$1,792,482$9,844,820
81$18,152,966$3,382,099$1,731,259$10,627,708
82$19,879,477$3,422,731$1,664,165$11,486,321
83$21,778,152$3,461,413$1,590,883$12,428,367
84$23,866,427$3,497,925$1,511,081$13,462,345
85$26,163,513$3,532,035$1,424,413$14,597,626
86$28,690,578$3,563,491$1,330,517$15,844,541
87$31,470,943$3,592,028$1,229,015$17,214,481
88$34,530,304$3,617,362$1,119,512$18,720,004
89$37,896,973$3,639,191$1,001,594$20,374,955
90$41,602,146$3,657,193$874,829$22,194,600
91$45,680,197$3,671,028$738,768$24,195,765
92$50,169,001$3,680,331$592,940$26,397,005
93$55,110,289$3,684,718$436,854$28,818,772
94$60,550,046$3,683,777$269,996$31,483,614
95$66,538,941$3,677,072$91,832$34,416,390
96$73,132,807$3,664,142$0$37,644,502
97$80,393,163$3,644,496$0$41,218,088
98$88,387,802$3,617,612$0$45,171,683
99$97,191,422$3,582,939$0$49,523,486
100$106,886,335$3,539,891$0$54,314,093