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

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 $2,130,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.6%
1 years$175,893$174,327$172,798$171,306$169,849$163,304
2 years$87,076$85,454$83,883$82,359$80,881$74,364
3 years$57,474$55,845$54,278$52,768$51,314$45,032
4 years$42,676$41,052$39,500$38,016$36,598$30,597
5 years$33,799$32,185$30,654$29,200$27,821$22,118
6 years$27,884$26,282$24,773$23,352$22,014$16,612
7 years$23,660$22,071$20,586$19,199$17,903$12,801
8 years$20,493$18,919$17,459$16,105$14,852$10,045
9 years$18,032$16,473$15,037$13,718$12,508$7,988
10 years$16,064$14,520$13,110$11,825$10,657$6,416
11 years$14,455$12,926$11,542$10,291$9,166$5,194
12 years$13,115$11,602$10,243$9,027$7,943$4,230
13 years$11,982$10,485$9,151$7,969$6,926$3,462
14 years$11,011$9,530$8,223$7,074$6,071$2,844
15 years$10,171$8,706$7,424$6,309$5,346$2,344
16 years$9,437$7,988$6,731$5,649$4,725$1,937
17 years$8,789$7,356$6,125$5,076$4,189$1,603
18 years$8,215$6,798$5,591$4,574$3,725$1,330
19 years$7,701$6,300$5,118$4,133$3,320$1,104
20 years$7,239$5,854$4,697$3,743$2,966$918
21 years$6,822$5,453$4,321$3,397$2,654$764
22 years$6,443$5,090$3,982$3,089$2,379$636
23 years$6,098$4,761$3,677$2,813$2,135$530
24 years$5,782$4,460$3,400$2,566$1,919$442
25 years$5,491$4,186$3,150$2,343$1,727$369
26 years$5,224$3,934$2,921$2,143$1,556$308
27 years$4,977$3,702$2,712$1,961$1,403$257
28 years$4,747$3,489$2,522$1,797$1,266$215
29 years$4,534$3,291$2,347$1,648$1,143$179
30 years$4,336$3,108$2,186$1,512$1,033$150
31 years$4,150$2,938$2,038$1,389$934$125
32 years$3,977$2,780$1,901$1,276$844$105
33 years$3,815$2,633$1,775$1,174$764$87
34 years$3,662$2,495$1,659$1,080$692$73
35 years$3,518$2,367$1,551$994$627$61
36 years$3,383$2,247$1,451$916$568$51
37 years$3,255$2,134$1,358$844$515$43
38 years$3,135$2,028$1,271$778$467$36
39 years$3,020$1,928$1,191$717$423$30
40 years$2,912$1,835$1,117$661$384$25
41 years$2,809$1,746$1,047$610$348$21
42 years$2,712$1,663$982$563$316$17
43 years$2,619$1,585$922$520$287$15
44 years$2,531$1,510$865$480$260$12
45 years$2,447$1,440$812$443$236$10
46 years$2,366$1,374$763$409$215$9
47 years$2,290$1,311$717$378$195$7
48 years$2,217$1,252$674$350$177$6
49 years$2,147$1,195$633$323$161$5
50 years$2,080$1,142$595$299$146$4

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 $6,689 every year, while hoping to spend $40,211 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: 51/32/17 Blend
55$2,130,000$2,130,000$2,130,000$2,130,000
56$2,354,160$2,241,270$2,208,255$2,462,907
57$2,551,500$2,308,308$2,239,447$2,605,446
58$2,767,621$2,377,283$2,270,337$2,755,590
59$3,004,396$2,448,248$2,300,871$2,917,951
60$3,263,889$2,521,256$2,330,994$3,093,696
61$3,548,370$2,596,362$2,360,647$3,284,111
62$3,860,343$2,673,623$2,389,768$3,490,609
63$4,202,563$2,753,096$2,418,291$3,714,748
64$4,578,067$2,834,840$2,446,146$3,958,241
65$4,990,197$2,918,915$2,473,259$4,222,976
66$5,442,638$3,005,382$2,499,554$4,511,028
67$5,939,446$3,094,304$2,524,947$4,824,686
68$6,485,090$3,185,746$2,549,354$5,166,467
69$7,084,495$3,279,773$2,572,683$5,539,146
70$7,743,083$3,376,452$2,594,838$5,945,775
71$8,466,831$3,475,851$2,615,718$6,389,718
72$9,262,320$3,578,041$2,635,217$6,874,681
73$10,136,804$3,683,091$2,653,223$7,404,742
74$11,098,271$3,791,076$2,669,619$7,984,397
75$12,155,524$3,902,068$2,684,281$8,618,596
76$13,318,262$4,016,144$2,697,079$9,312,792
77$14,597,169$4,133,380$2,707,876$10,072,993
78$16,004,019$4,253,854$2,716,529$10,905,816
79$17,551,783$4,377,647$2,722,887$11,818,552
80$19,254,753$4,504,840$2,726,791$12,819,233
81$21,128,675$4,635,514$2,728,076$13,916,707
82$23,190,900$4,769,755$2,726,567$15,120,723
83$25,460,546$4,907,647$2,722,081$16,442,024
84$27,958,677$5,049,277$2,714,426$17,892,443
85$30,708,504$5,194,733$2,703,401$19,485,019
86$33,735,602$5,344,105$2,688,795$21,234,119
87$37,068,150$5,497,484$2,670,387$23,155,573
88$40,737,202$5,654,961$2,647,945$25,266,823
89$44,776,972$5,816,629$2,621,227$27,587,088
90$49,225,162$5,982,583$2,589,977$30,137,544
91$54,123,318$6,152,919$2,553,930$32,941,525
92$59,517,217$6,327,732$2,512,808$36,024,745
93$65,457,303$6,507,121$2,466,317$39,415,534
94$71,999,162$6,691,184$2,414,152$43,145,113
95$79,204,044$6,880,020$2,355,994$47,247,883
96$87,139,445$7,073,730$2,291,509$51,761,753
97$95,879,740$7,272,414$2,220,346$56,728,496
98$105,506,885$7,476,174$2,142,139$62,194,144
99$116,111,192$7,685,111$2,056,505$68,209,420
100$127,792,181$7,899,329$1,963,045$74,830,221