Can I retire at age 56 with 2,130,000?

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 $2,130,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.8%
1 years$175,893$174,327$172,798$171,306$169,849$167,866
2 years$87,076$85,454$83,883$82,359$80,881$78,884
3 years$57,474$55,845$54,278$52,768$51,314$49,367
4 years$42,676$41,052$39,500$38,016$36,598$34,714
5 years$33,799$32,185$30,654$29,200$27,821$26,007
6 years$27,884$26,282$24,773$23,352$22,014$20,272
7 years$23,660$22,071$20,586$19,199$17,903$16,233
8 years$20,493$18,919$17,459$16,105$14,852$13,255
9 years$18,032$16,473$15,037$13,718$12,508$10,982
10 years$16,064$14,520$13,110$11,825$10,657$9,202
11 years$14,455$12,926$11,542$10,291$9,166$7,780
12 years$13,115$11,602$10,243$9,027$7,943$6,625
13 years$11,982$10,485$9,151$7,969$6,926$5,675
14 years$11,011$9,530$8,223$7,074$6,071$4,884
15 years$10,171$8,706$7,424$6,309$5,346$4,221
16 years$9,437$7,988$6,731$5,649$4,725$3,661
17 years$8,789$7,356$6,125$5,076$4,189$3,184
18 years$8,215$6,798$5,591$4,574$3,725$2,776
19 years$7,701$6,300$5,118$4,133$3,320$2,425
20 years$7,239$5,854$4,697$3,743$2,966$2,123
21 years$6,822$5,453$4,321$3,397$2,654$1,861
22 years$6,443$5,090$3,982$3,089$2,379$1,634
23 years$6,098$4,761$3,677$2,813$2,135$1,436
24 years$5,782$4,460$3,400$2,566$1,919$1,263
25 years$5,491$4,186$3,150$2,343$1,727$1,113
26 years$5,224$3,934$2,921$2,143$1,556$981
27 years$4,977$3,702$2,712$1,961$1,403$865
28 years$4,747$3,489$2,522$1,797$1,266$763
29 years$4,534$3,291$2,347$1,648$1,143$674
30 years$4,336$3,108$2,186$1,512$1,033$595
31 years$4,150$2,938$2,038$1,389$934$526
32 years$3,977$2,780$1,901$1,276$844$465
33 years$3,815$2,633$1,775$1,174$764$411
34 years$3,662$2,495$1,659$1,080$692$364
35 years$3,518$2,367$1,551$994$627$322
36 years$3,383$2,247$1,451$916$568$285
37 years$3,255$2,134$1,358$844$515$252
38 years$3,135$2,028$1,271$778$467$223
39 years$3,020$1,928$1,191$717$423$198
40 years$2,912$1,835$1,117$661$384$175
41 years$2,809$1,746$1,047$610$348$155
42 years$2,712$1,663$982$563$316$137
43 years$2,619$1,585$922$520$287$122
44 years$2,531$1,510$865$480$260$108
45 years$2,447$1,440$812$443$236$96
46 years$2,366$1,374$763$409$215$85
47 years$2,290$1,311$717$378$195$75
48 years$2,217$1,252$674$350$177$66
49 years$2,147$1,195$633$323$161$59
50 years$2,080$1,142$595$299$146$52

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $2,130,000, adding $6,889 every year, while hoping to spend $49,534 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: 42/47/11 Blend
55$2,130,000$2,130,000$2,130,000$2,130,000
56$2,354,366$2,241,476$2,208,461$2,445,384
57$2,541,808$2,298,605$2,229,741$2,566,885
58$2,746,708$2,356,872$2,250,073$2,692,876
59$2,970,796$2,416,283$2,269,374$2,828,197
60$3,215,974$2,476,838$2,287,555$2,973,721
61$3,484,339$2,538,538$2,304,523$3,130,406
62$3,778,197$2,601,382$2,320,181$3,299,310
63$4,100,090$2,665,366$2,334,424$3,481,596
64$4,452,816$2,730,487$2,347,144$3,678,543
65$4,839,458$2,796,735$2,358,228$3,891,562
66$5,263,410$2,864,102$2,367,556$4,122,207
67$5,728,410$2,932,575$2,375,001$4,372,186
68$6,238,576$3,002,140$2,380,432$4,643,383
69$6,798,444$3,072,778$2,383,710$4,937,874
70$7,413,010$3,144,469$2,384,689$5,257,944
71$8,087,777$3,217,188$2,383,216$5,606,112
72$8,828,807$3,290,907$2,379,130$5,985,150
73$9,642,779$3,365,595$2,372,265$6,398,115
74$10,537,049$3,441,216$2,362,442$6,848,376
75$11,519,722$3,517,729$2,349,478$7,339,641
76$12,599,727$3,595,091$2,333,178$7,876,001
77$13,786,899$3,673,250$2,313,340$8,461,959
78$15,092,075$3,752,152$2,289,750$9,102,481
79$16,527,196$3,831,736$2,262,185$9,803,037
80$18,105,414$3,911,936$2,230,412$10,569,657
81$19,841,222$3,992,676$2,194,187$11,408,983
82$21,750,588$4,073,879$2,153,254$12,328,339
83$23,851,105$4,155,456$2,107,344$13,335,793
84$26,162,155$4,237,311$2,056,178$14,440,239
85$28,705,098$4,319,342$1,999,463$15,651,478
86$31,503,464$4,401,436$1,936,891$16,980,310
87$34,583,183$4,483,472$1,868,143$18,438,641
88$37,972,824$4,565,318$1,792,881$20,039,592
89$41,703,865$4,646,832$1,710,757$21,797,622
90$45,810,995$4,727,862$1,621,402$23,728,669
91$50,332,431$4,808,242$1,524,434$25,850,298
92$55,310,289$4,887,796$1,419,452$28,181,869
93$60,790,972$4,966,332$1,306,038$30,744,717
94$66,825,615$5,043,646$1,183,754$33,562,360
95$73,470,561$5,119,518$1,052,143$36,660,716
96$80,787,897$5,193,713$910,728$40,068,350
97$88,846,036$5,265,978$759,011$43,816,747
98$97,720,365$5,336,045$596,472$47,940,608
99$107,493,955$5,403,623$422,566$52,478,176
100$118,258,343$5,468,406$236,727$57,471,603