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%12.2%
1 years$175,893$174,327$172,798$171,306$169,849$168,286
2 years$87,076$85,454$83,883$82,359$80,881$79,305
3 years$57,474$55,845$54,278$52,768$51,314$49,776
4 years$42,676$41,052$39,500$38,016$36,598$35,108
5 years$33,799$32,185$30,654$29,200$27,821$26,385
6 years$27,884$26,282$24,773$23,352$22,014$20,633
7 years$23,660$22,071$20,586$19,199$17,903$16,578
8 years$20,493$18,919$17,459$16,105$14,852$13,583
9 years$18,032$16,473$15,037$13,718$12,508$11,293
10 years$16,064$14,520$13,110$11,825$10,657$9,497
11 years$14,455$12,926$11,542$10,291$9,166$8,059
12 years$13,115$11,602$10,243$9,027$7,943$6,889
13 years$11,982$10,485$9,151$7,969$6,926$5,924
14 years$11,011$9,530$8,223$7,074$6,071$5,119
15 years$10,171$8,706$7,424$6,309$5,346$4,442
16 years$9,437$7,988$6,731$5,649$4,725$3,868
17 years$8,789$7,356$6,125$5,076$4,189$3,378
18 years$8,215$6,798$5,591$4,574$3,725$2,958
19 years$7,701$6,300$5,118$4,133$3,320$2,596
20 years$7,239$5,854$4,697$3,743$2,966$2,282
21 years$6,822$5,453$4,321$3,397$2,654$2,010
22 years$6,443$5,090$3,982$3,089$2,379$1,772
23 years$6,098$4,761$3,677$2,813$2,135$1,565
24 years$5,782$4,460$3,400$2,566$1,919$1,383
25 years$5,491$4,186$3,150$2,343$1,727$1,224
26 years$5,224$3,934$2,921$2,143$1,556$1,084
27 years$4,977$3,702$2,712$1,961$1,403$960
28 years$4,747$3,489$2,522$1,797$1,266$852
29 years$4,534$3,291$2,347$1,648$1,143$756
30 years$4,336$3,108$2,186$1,512$1,033$671
31 years$4,150$2,938$2,038$1,389$934$596
32 years$3,977$2,780$1,901$1,276$844$529
33 years$3,815$2,633$1,775$1,174$764$470
34 years$3,662$2,495$1,659$1,080$692$418
35 years$3,518$2,367$1,551$994$627$372
36 years$3,383$2,247$1,451$916$568$331
37 years$3,255$2,134$1,358$844$515$294
38 years$3,135$2,028$1,271$778$467$262
39 years$3,020$1,928$1,191$717$423$233
40 years$2,912$1,835$1,117$661$384$208
41 years$2,809$1,746$1,047$610$348$185
42 years$2,712$1,663$982$563$316$165
43 years$2,619$1,585$922$520$287$146
44 years$2,531$1,510$865$480$260$130
45 years$2,447$1,440$812$443$236$116
46 years$2,366$1,374$763$409$215$103
47 years$2,290$1,311$717$378$195$92
48 years$2,217$1,252$674$350$177$82
49 years$2,147$1,195$633$323$161$73
50 years$2,080$1,142$595$299$146$65

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 $2,029 every year, while hoping to spend $37,190 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: 72/10/18 Blend
55$2,130,000$2,130,000$2,130,000$2,130,000
56$2,349,353$2,236,463$2,203,448$2,508,406
57$2,549,417$2,306,480$2,237,694$2,684,376
58$2,768,641$2,378,681$2,271,840$2,872,348
59$3,008,941$2,453,134$2,305,845$3,077,256
60$3,272,424$2,529,910$2,339,662$3,300,771
61$3,561,415$2,609,079$2,373,245$3,544,736
62$3,878,472$2,690,716$2,406,541$3,811,179
63$4,226,414$2,774,899$2,439,497$4,102,334
64$4,608,344$2,861,704$2,472,056$4,420,662
65$5,027,682$2,951,215$2,504,157$4,768,873
66$5,488,195$3,043,514$2,535,736$5,149,955
67$5,994,033$3,138,688$2,566,725$5,567,194
68$6,549,766$3,236,826$2,597,052$6,024,215
69$7,160,431$3,338,020$2,626,643$6,525,009
70$7,831,576$3,442,363$2,655,416$7,073,973
71$8,569,312$3,549,954$2,683,287$7,675,951
72$9,380,373$3,660,893$2,710,168$8,336,279
73$10,272,177$3,775,283$2,735,965$9,060,838
74$11,252,898$3,893,230$2,760,579$9,856,106
75$12,331,540$4,014,846$2,783,905$10,729,219
76$13,518,026$4,140,242$2,805,835$11,688,041
77$14,823,286$4,269,535$2,826,252$12,741,238
78$16,259,366$4,402,847$2,845,035$13,898,355
79$17,839,534$4,540,299$2,862,057$15,169,911
80$19,578,414$4,682,021$2,877,184$16,567,496
81$21,492,116$4,828,144$2,890,273$18,103,882
82$23,598,391$4,978,803$2,901,177$19,793,139
83$25,916,801$5,134,138$2,909,740$21,650,774
84$28,468,896$5,294,292$2,915,797$23,693,871
85$31,278,425$5,459,414$2,919,178$25,941,257
86$34,371,556$5,629,657$2,919,702$28,413,677
87$37,777,122$5,805,177$2,917,180$31,133,991
88$41,526,896$5,986,138$2,911,412$34,127,388
89$45,655,886$6,172,706$2,902,192$37,421,624
90$50,202,671$6,365,053$2,889,299$41,047,288
91$55,209,759$6,563,356$2,872,507$45,038,082
92$60,723,992$6,767,798$2,851,573$49,431,149
93$66,796,986$6,978,567$2,826,248$54,267,416
94$73,485,619$7,195,858$2,796,268$59,591,982
95$80,852,565$7,419,868$2,761,356$65,454,548
96$88,966,890$7,650,805$2,721,225$71,909,879
97$97,904,698$7,888,879$2,675,571$79,018,326
98$107,749,852$8,134,309$2,624,077$86,846,396
99$118,594,767$8,387,320$2,566,414$95,467,373
100$130,541,277$8,648,143$2,502,233$104,962,020