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%11.3%
1 years$175,893$174,327$172,798$171,306$169,849$168,920
2 years$87,076$85,454$83,883$82,359$80,881$79,943
3 years$57,474$55,845$54,278$52,768$51,314$50,397
4 years$42,676$41,052$39,500$38,016$36,598$35,709
5 years$33,799$32,185$30,654$29,200$27,821$26,962
6 years$27,884$26,282$24,773$23,352$22,014$21,187
7 years$23,660$22,071$20,586$19,199$17,903$17,108
8 years$20,493$18,919$17,459$16,105$14,852$14,089
9 years$18,032$16,473$15,037$13,718$12,508$11,776
10 years$16,064$14,520$13,110$11,825$10,657$9,957
11 years$14,455$12,926$11,542$10,291$9,166$8,496
12 years$13,115$11,602$10,243$9,027$7,943$7,303
13 years$11,982$10,485$9,151$7,969$6,926$6,316
14 years$11,011$9,530$8,223$7,074$6,071$5,491
15 years$10,171$8,706$7,424$6,309$5,346$4,793
16 years$9,437$7,988$6,731$5,649$4,725$4,200
17 years$8,789$7,356$6,125$5,076$4,189$3,691
18 years$8,215$6,798$5,591$4,574$3,725$3,252
19 years$7,701$6,300$5,118$4,133$3,320$2,872
20 years$7,239$5,854$4,697$3,743$2,966$2,542
21 years$6,822$5,453$4,321$3,397$2,654$2,253
22 years$6,443$5,090$3,982$3,089$2,379$2,001
23 years$6,098$4,761$3,677$2,813$2,135$1,779
24 years$5,782$4,460$3,400$2,566$1,919$1,583
25 years$5,491$4,186$3,150$2,343$1,727$1,410
26 years$5,224$3,934$2,921$2,143$1,556$1,258
27 years$4,977$3,702$2,712$1,961$1,403$1,123
28 years$4,747$3,489$2,522$1,797$1,266$1,003
29 years$4,534$3,291$2,347$1,648$1,143$896
30 years$4,336$3,108$2,186$1,512$1,033$801
31 years$4,150$2,938$2,038$1,389$934$717
32 years$3,977$2,780$1,901$1,276$844$642
33 years$3,815$2,633$1,775$1,174$764$575
34 years$3,662$2,495$1,659$1,080$692$515
35 years$3,518$2,367$1,551$994$627$461
36 years$3,383$2,247$1,451$916$568$413
37 years$3,255$2,134$1,358$844$515$371
38 years$3,135$2,028$1,271$778$467$332
39 years$3,020$1,928$1,191$717$423$298
40 years$2,912$1,835$1,117$661$384$267
41 years$2,809$1,746$1,047$610$348$240
42 years$2,712$1,663$982$563$316$215
43 years$2,619$1,585$922$520$287$193
44 years$2,531$1,510$865$480$260$173
45 years$2,447$1,440$812$443$236$156
46 years$2,366$1,374$763$409$215$140
47 years$2,290$1,311$717$378$195$125
48 years$2,217$1,252$674$350$177$113
49 years$2,147$1,195$633$323$161$101
50 years$2,080$1,142$595$299$146$91

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 $5,701 every year, while hoping to spend $42,471 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: 58/15/27 Blend
55$2,130,000$2,130,000$2,130,000$2,130,000
56$2,353,141$2,240,251$2,207,236$2,472,011
57$2,547,972$2,304,834$2,235,989$2,618,583
58$2,761,253$2,371,159$2,264,283$2,773,343
59$2,994,820$2,439,265$2,292,055$2,941,207
60$3,250,697$2,509,194$2,319,244$3,123,458
61$3,531,111$2,580,987$2,345,782$3,321,507
62$3,838,515$2,654,687$2,371,596$3,536,909
63$4,175,613$2,730,335$2,396,614$3,771,378
64$4,545,380$2,807,976$2,420,755$4,026,801
65$4,951,094$2,887,653$2,443,936$4,305,257
66$5,396,367$2,969,409$2,466,069$4,609,036
67$5,885,176$3,053,290$2,487,063$4,940,663
68$6,421,903$3,139,340$2,506,818$5,302,916
69$7,011,374$3,227,604$2,525,233$5,698,860
70$7,658,905$3,318,128$2,542,199$6,131,871
71$8,370,355$3,410,957$2,557,604$6,605,667
72$9,152,174$3,506,138$2,571,327$7,124,347
73$10,011,473$3,603,716$2,583,244$7,692,427
74$10,956,082$3,703,737$2,593,222$8,314,883
75$11,994,630$3,806,247$2,601,122$8,997,197
76$13,136,622$3,911,293$2,606,799$9,745,414
77$14,392,531$4,018,920$2,610,100$10,566,191
78$15,773,896$4,129,174$2,610,866$11,466,866
79$17,293,430$4,242,100$2,608,926$12,455,526
80$18,965,140$4,357,743$2,604,106$13,541,080
81$20,804,460$4,476,148$2,596,219$14,733,349
82$22,828,394$4,597,358$2,585,071$16,043,155
83$25,055,678$4,721,417$2,570,459$17,482,423
84$27,506,958$4,848,366$2,552,169$19,064,295
85$30,204,979$4,978,248$2,529,979$20,803,256
86$33,174,806$5,111,101$2,503,652$22,715,265
87$36,444,056$5,246,965$2,472,945$24,817,913
88$40,043,161$5,385,878$2,437,599$27,130,584
89$44,005,651$5,527,874$2,397,347$29,674,642
90$48,368,476$5,672,987$2,351,906$32,473,628
91$53,172,347$5,821,250$2,300,981$35,553,489
92$58,462,127$5,972,692$2,244,265$38,942,816
93$64,287,250$6,127,340$2,181,434$42,673,121
94$70,702,188$6,285,218$2,112,150$46,779,130
95$77,766,965$6,446,348$2,036,061$51,299,114
96$85,547,724$6,610,747$1,952,798$56,275,247
97$94,117,349$6,778,431$1,861,974$61,754,010
98$103,556,154$6,949,410$1,763,185$67,786,626
99$113,952,640$7,123,690$1,656,011$74,429,544
100$125,404,332$7,301,273$1,540,009$81,744,976