Can I retire at age 56 with 2,080,000?

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 $2,080,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.1%
1 years$171,764$170,234$168,742$167,285$165,862$159,787
2 years$85,032$83,448$81,913$80,425$78,982$72,929
3 years$56,125$54,534$53,003$51,529$50,109$44,269
4 years$41,674$40,089$38,573$37,124$35,738$30,155
5 years$33,006$31,430$29,934$28,515$27,168$21,856
6 years$27,229$25,665$24,191$22,803$21,497$16,460
7 years$23,104$21,553$20,103$18,748$17,483$12,720
8 years$20,012$18,475$17,049$15,727$14,504$10,011
9 years$17,609$16,086$14,684$13,396$12,214$7,986
10 years$15,687$14,179$12,802$11,548$10,407$6,435
11 years$14,115$12,623$11,271$10,050$8,950$5,226
12 years$12,807$11,329$10,003$8,815$7,756$4,271
13 years$11,700$10,239$8,937$7,782$6,764$3,507
14 years$10,753$9,307$8,030$6,908$5,929$2,891
15 years$9,932$8,502$7,250$6,161$5,220$2,391
16 years$9,215$7,800$6,573$5,517$4,614$1,983
17 years$8,583$7,184$5,981$4,957$4,091$1,648
18 years$8,022$6,638$5,460$4,467$3,637$1,372
19 years$7,520$6,152$4,998$4,036$3,242$1,143
20 years$7,069$5,717$4,587$3,656$2,896$954
21 years$6,662$5,325$4,219$3,318$2,591$797
22 years$6,292$4,971$3,889$3,016$2,323$667
23 years$5,955$4,649$3,591$2,747$2,085$558
24 years$5,646$4,356$3,321$2,506$1,874$467
25 years$5,363$4,088$3,076$2,288$1,686$391
26 years$5,101$3,842$2,852$2,092$1,519$328
27 years$4,860$3,616$2,649$1,915$1,370$275
28 years$4,636$3,407$2,462$1,755$1,236$230
29 years$4,428$3,214$2,291$1,609$1,116$193
30 years$4,234$3,035$2,134$1,477$1,008$162
31 years$4,053$2,869$1,990$1,356$912$136
32 years$3,884$2,715$1,857$1,246$825$114
33 years$3,725$2,571$1,733$1,146$746$96
34 years$3,576$2,437$1,620$1,055$676$80
35 years$3,436$2,311$1,514$971$612$67
36 years$3,304$2,194$1,417$894$554$57
37 years$3,179$2,084$1,326$824$503$47
38 years$3,061$1,980$1,242$759$456$40
39 years$2,949$1,883$1,163$700$413$33
40 years$2,844$1,791$1,090$646$375$28
41 years$2,743$1,705$1,022$596$340$24
42 years$2,648$1,624$959$550$309$20
43 years$2,558$1,547$900$508$280$17
44 years$2,471$1,475$845$469$254$14
45 years$2,389$1,407$793$433$231$12
46 years$2,311$1,342$745$400$209$10
47 years$2,236$1,280$700$369$190$8
48 years$2,165$1,222$658$341$173$7
49 years$2,096$1,167$618$315$157$6
50 years$2,031$1,115$581$292$143$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $2,080,000, adding $3,579 every year, while hoping to spend $58,047 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: 69/19/12 Blend
55$2,080,000$2,080,000$2,080,000$2,080,000
56$2,295,852$2,185,612$2,153,372$2,448,086
57$2,468,267$2,230,945$2,163,748$2,594,989
58$2,656,323$2,276,554$2,172,527$2,748,325
59$2,861,554$2,322,392$2,179,592$2,914,559
60$3,085,649$2,368,405$2,184,825$3,094,949
61$3,330,466$2,414,538$2,188,098$3,290,882
62$3,598,052$2,460,729$2,189,277$3,503,887
63$3,890,661$2,506,911$2,188,225$3,735,644
64$4,210,771$2,553,013$2,184,794$3,988,009
65$4,561,116$2,598,957$2,178,831$4,263,024
66$4,944,703$2,644,659$2,170,174$4,562,940
67$5,364,843$2,690,028$2,158,656$4,890,236
68$5,825,185$2,734,967$2,144,099$5,247,644
69$6,329,746$2,779,372$2,126,318$5,638,176
70$6,882,949$2,823,131$2,105,118$6,065,149
71$7,489,667$2,866,121$2,080,297$6,532,219
72$8,155,267$2,908,215$2,051,641$7,043,415
73$8,885,660$2,949,274$2,018,927$7,603,177
74$9,687,358$2,989,149$1,981,922$8,216,398
75$10,567,533$3,027,682$1,940,381$8,888,469
76$11,534,086$3,064,702$1,894,048$9,625,334
77$12,595,720$3,100,030$1,842,656$10,433,540
78$13,762,023$3,133,472$1,785,925$11,320,306
79$15,043,558$3,164,820$1,723,562$12,293,586
80$16,451,961$3,193,856$1,655,260$13,362,145
81$18,000,050$3,220,344$1,580,701$14,535,646
82$19,701,948$3,244,034$1,499,548$15,824,736
83$21,573,217$3,264,661$1,411,452$17,241,150
84$23,630,997$3,281,942$1,316,048$18,797,822
85$25,894,176$3,295,574$1,212,953$20,509,005
86$28,383,563$3,305,238$1,101,768$22,390,410
87$31,122,085$3,310,594$982,076$24,459,351
88$34,135,003$3,311,279$853,441$26,734,910
89$37,450,151$3,306,909$715,409$29,238,119
90$41,098,195$3,297,076$567,504$31,992,155
91$45,112,926$3,281,348$409,230$35,022,565
92$49,531,575$3,259,265$240,070$38,357,505
93$54,395,166$3,230,339$59,482$42,028,002
94$59,748,901$3,194,053$0$46,068,257
95$65,642,588$3,149,861$0$50,533,020
96$72,131,109$3,097,182$0$55,456,007
97$79,274,938$3,035,399$0$60,875,455
98$87,140,711$2,963,863$0$66,841,902
99$95,801,854$2,881,883$0$73,411,043
100$105,339,277$2,788,729$0$80,644,254