Can I retire at age 56 with 2,140,000?

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 $2,140,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.8%
1 years$176,719$175,145$173,609$172,110$170,647$163,941
2 years$87,485$85,855$84,276$82,745$81,260$74,586
3 years$57,744$56,107$54,532$53,016$51,555$45,123
4 years$42,876$41,245$39,686$38,195$36,769$30,628
5 years$33,958$32,337$30,798$29,337$27,951$22,117
6 years$28,015$26,405$24,889$23,461$22,117$16,593
7 years$23,771$22,175$20,683$19,289$17,987$12,772
8 years$20,590$19,008$17,541$16,181$14,922$10,010
9 years$18,116$16,550$15,108$13,783$12,567$7,950
10 years$16,139$14,588$13,171$11,881$10,707$6,378
11 years$14,522$12,987$11,596$10,340$9,209$5,157
12 years$13,176$11,656$10,291$9,069$7,980$4,194
13 years$12,038$10,534$9,194$8,007$6,959$3,428
14 years$11,063$9,575$8,261$7,108$6,100$2,812
15 years$10,219$8,747$7,459$6,339$5,371$2,314
16 years$9,481$8,025$6,762$5,676$4,747$1,909
17 years$8,831$7,391$6,154$5,100$4,209$1,578
18 years$8,253$6,829$5,617$4,596$3,742$1,307
19 years$7,737$6,330$5,142$4,153$3,336$1,084
20 years$7,273$5,882$4,719$3,761$2,979$900
21 years$6,854$5,479$4,341$3,413$2,666$748
22 years$6,473$5,114$4,001$3,104$2,390$622
23 years$6,127$4,783$3,694$2,826$2,145$517
24 years$5,809$4,481$3,416$2,578$1,928$431
25 years$5,517$4,206$3,164$2,354$1,735$359
26 years$5,248$3,953$2,935$2,153$1,563$299
27 years$5,000$3,720$2,725$1,970$1,409$249
28 years$4,770$3,505$2,533$1,805$1,271$208
29 years$4,556$3,307$2,358$1,655$1,148$173
30 years$4,356$3,123$2,196$1,519$1,037$144
31 years$4,170$2,952$2,047$1,395$938$120
32 years$3,996$2,793$1,910$1,282$848$100
33 years$3,832$2,645$1,783$1,179$768$84
34 years$3,679$2,507$1,666$1,085$695$70
35 years$3,535$2,378$1,558$999$630$58
36 years$3,399$2,257$1,457$920$570$49
37 years$3,271$2,144$1,364$848$517$41
38 years$3,149$2,037$1,277$781$469$34
39 years$3,034$1,937$1,197$720$425$28
40 years$2,926$1,843$1,122$664$386$24
41 years$2,823$1,754$1,052$613$350$20
42 years$2,725$1,671$987$566$317$16
43 years$2,631$1,592$926$522$288$14
44 years$2,543$1,518$869$482$261$11
45 years$2,458$1,447$816$445$237$10
46 years$2,377$1,381$766$411$216$8
47 years$2,301$1,317$720$380$196$7
48 years$2,227$1,258$677$351$178$6
49 years$2,157$1,201$636$325$161$5
50 years$2,089$1,147$598$300$147$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $2,140,000, adding $3,965 every year, while hoping to spend $37,146 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: 43/39/18 Blend
55$2,140,000$2,140,000$2,140,000$2,140,000
56$2,362,370$2,248,950$2,215,780$2,451,420
57$2,563,809$2,319,625$2,250,485$2,585,253
58$2,784,549$2,392,519$2,285,109$2,726,202
59$3,026,521$2,467,700$2,319,608$2,878,126
60$3,291,849$2,545,241$2,353,938$3,042,055
61$3,582,874$2,625,214$2,388,051$3,219,119
62$3,902,175$2,707,697$2,421,898$3,410,561
63$4,252,590$2,792,768$2,455,425$3,617,749
64$4,637,248$2,880,507$2,488,576$3,842,189
65$5,059,595$2,970,999$2,521,291$4,085,536
66$5,523,425$3,064,330$2,553,505$4,349,612
67$6,032,920$3,160,588$2,585,153$4,636,422
68$6,592,686$3,259,864$2,616,164$4,948,174
69$7,207,797$3,362,255$2,646,462$5,287,297
70$7,883,843$3,467,856$2,675,970$5,656,464
71$8,626,982$3,576,768$2,704,602$6,058,620
72$9,444,000$3,689,095$2,732,272$6,497,006
73$10,342,371$3,804,944$2,758,886$6,975,191
74$11,330,331$3,924,424$2,784,346$7,497,104
75$12,416,953$4,047,650$2,808,551$8,067,072
76$13,612,236$4,174,738$2,831,390$8,689,861
77$14,927,192$4,305,809$2,852,751$9,370,717
78$16,373,960$4,440,987$2,872,512$10,115,421
79$17,965,910$4,580,402$2,890,547$10,930,338
80$19,717,775$4,724,184$2,906,723$11,822,479
81$21,645,791$4,872,471$2,920,901$12,799,567
82$23,767,843$5,025,404$2,932,932$13,870,108
83$26,103,641$5,183,127$2,942,664$15,043,472
84$28,674,902$5,345,790$2,949,932$16,329,981
85$31,505,555$5,513,547$2,954,569$17,741,007
86$34,621,969$5,686,557$2,956,393$19,289,075
87$38,053,196$5,864,984$2,955,219$20,987,985
88$41,831,251$6,048,998$2,950,848$22,852,941
89$45,991,412$6,238,772$2,943,075$24,900,692
90$50,572,551$6,434,487$2,931,682$27,149,692
91$55,617,501$6,636,327$2,916,444$29,620,271
92$61,173,462$6,844,483$2,897,121$32,334,829
93$67,292,445$7,059,153$2,873,464$35,318,048
94$74,031,763$7,280,539$2,845,213$38,597,119
95$81,454,568$7,508,851$2,812,093$42,202,003
96$89,630,454$7,744,305$2,773,818$46,165,714
97$98,636,107$7,987,122$2,730,088$50,524,625
98$108,556,032$8,237,534$2,680,588$55,318,815
99$119,483,349$8,495,775$2,624,990$60,592,446
100$131,520,673$8,762,090$2,562,949$66,394,179