Can I retire at age 56 with 2,110,000?

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 $2,110,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.7%
1 years$174,242$172,690$171,176$169,698$168,254$163,656
2 years$86,258$84,652$83,095$81,585$80,121$75,522
3 years$56,934$55,321$53,768$52,273$50,832$46,376
4 years$42,275$40,667$39,129$37,659$36,254$31,975
5 years$33,482$31,883$30,366$28,926$27,560$23,470
6 years$27,622$26,035$24,540$23,132$21,807$17,910
7 years$23,438$21,864$20,393$19,018$17,735$14,032
8 years$20,301$18,742$17,295$15,954$14,713$11,201
9 years$17,862$16,318$14,896$13,589$12,390$9,066
10 years$15,913$14,383$12,987$11,714$10,557$7,417
11 years$14,319$12,805$11,433$10,195$9,080$6,118
12 years$12,991$11,493$10,147$8,942$7,868$5,080
13 years$11,869$10,386$9,065$7,895$6,861$4,240
14 years$10,908$9,441$8,145$7,008$6,014$3,554
15 years$10,076$8,624$7,354$6,250$5,296$2,990
16 years$9,348$7,913$6,668$5,596$4,680$2,523
17 years$8,707$7,287$6,067$5,028$4,150$2,133
18 years$8,137$6,734$5,539$4,531$3,690$1,808
19 years$7,629$6,241$5,070$4,094$3,289$1,535
20 years$7,171$5,799$4,653$3,708$2,938$1,305
21 years$6,758$5,402$4,280$3,365$2,629$1,110
22 years$6,383$5,042$3,945$3,060$2,356$946
23 years$6,041$4,716$3,642$2,787$2,115$807
24 years$5,728$4,419$3,369$2,542$1,901$688
25 years$5,440$4,147$3,120$2,321$1,711$588
26 years$5,175$3,897$2,894$2,122$1,541$502
27 years$4,930$3,668$2,687$1,943$1,389$429
28 years$4,703$3,456$2,498$1,780$1,254$367
29 years$4,492$3,260$2,324$1,632$1,132$314
30 years$4,295$3,079$2,165$1,498$1,023$268
31 years$4,111$2,911$2,019$1,376$925$230
32 years$3,940$2,754$1,883$1,264$837$197
33 years$3,779$2,608$1,758$1,163$757$168
34 years$3,627$2,472$1,643$1,070$685$144
35 years$3,485$2,345$1,536$985$621$123
36 years$3,351$2,225$1,437$907$562$106
37 years$3,225$2,114$1,345$836$510$90
38 years$3,105$2,009$1,260$770$462$77
39 years$2,992$1,910$1,180$710$419$66
40 years$2,885$1,817$1,106$655$380$57
41 years$2,783$1,730$1,037$604$345$49
42 years$2,686$1,647$973$558$313$42
43 years$2,594$1,570$913$515$284$36
44 years$2,507$1,496$857$475$258$31
45 years$2,424$1,427$805$439$234$26
46 years$2,344$1,361$756$406$212$22
47 years$2,268$1,299$710$375$193$19
48 years$2,196$1,240$667$346$175$17
49 years$2,126$1,184$627$320$159$14
50 years$2,060$1,131$590$296$145$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $2,110,000, adding $3,811 every year, while hoping to spend $26,231 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: 33/39/28 Blend
55$2,110,000$2,110,000$2,110,000$2,110,000
56$2,329,151$2,217,321$2,184,616$2,386,087
57$2,538,815$2,298,060$2,229,891$2,510,445
58$2,768,985$2,381,876$2,275,804$2,641,780
59$3,021,726$2,468,893$2,322,348$2,782,816
60$3,299,311$2,559,238$2,369,515$2,934,431
61$3,604,245$2,653,044$2,417,298$3,097,588
62$3,939,287$2,750,452$2,465,686$3,273,345
63$4,307,477$2,851,607$2,514,669$3,462,862
64$4,712,162$2,956,659$2,564,234$3,667,417
65$5,157,034$3,065,766$2,614,367$3,888,411
66$5,646,156$3,179,093$2,665,052$4,127,386
67$6,184,006$3,296,810$2,716,274$4,386,034
68$6,775,517$3,419,097$2,768,012$4,666,219
69$7,426,127$3,546,140$2,820,247$4,969,986
70$8,141,823$3,678,132$2,872,956$5,299,588
71$8,929,204$3,815,275$2,926,116$5,657,499
72$9,795,541$3,957,782$2,979,699$6,046,442
73$10,748,844$4,105,872$3,033,677$6,469,412
74$11,797,941$4,259,774$3,088,019$6,929,705
75$12,952,556$4,419,727$3,142,693$7,430,945
76$14,223,405$4,585,982$3,197,661$7,977,121
77$15,622,295$4,758,799$3,252,886$8,572,622
78$17,162,238$4,938,449$3,308,327$9,222,279
79$18,857,569$5,125,215$3,363,938$9,931,409
80$20,724,084$5,319,394$3,419,673$10,705,863
81$22,779,190$5,521,293$3,475,482$11,552,083
82$25,042,066$5,731,235$3,531,309$12,477,160
83$27,533,846$5,949,555$3,587,097$13,488,900
84$30,277,818$6,176,604$3,642,785$14,595,898
85$33,299,645$6,412,747$3,698,308$15,807,618
86$36,627,603$6,658,365$3,753,595$17,134,477
87$40,292,852$6,913,858$3,808,574$18,587,950
88$44,329,727$7,179,641$3,863,165$20,180,671
89$48,776,063$7,456,148$3,917,285$21,926,552
90$53,673,554$7,743,832$3,970,847$23,840,915
91$59,068,143$8,043,166$4,023,757$25,940,635
92$65,010,456$8,354,644$4,075,915$28,244,295
93$71,556,283$8,678,781$4,127,218$30,772,366
94$78,767,098$9,016,116$4,177,554$33,547,391
95$86,710,647$9,367,210$4,226,807$36,594,203
96$95,461,581$9,732,652$4,274,853$39,940,155
97$105,102,163$10,113,053$4,321,562$43,615,374
98$115,723,045$10,509,054$4,366,795$47,653,051
99$127,424,121$10,921,323$4,410,409$52,089,744
100$140,315,473$11,350,560$4,452,249$56,965,726