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%18.9%
1 years$176,719$175,145$173,609$172,110$170,647$164,526
2 years$87,485$85,855$84,276$82,745$81,260$75,161
3 years$57,744$56,107$54,532$53,016$51,555$45,667
4 years$42,876$41,245$39,686$38,195$36,769$31,139
5 years$33,958$32,337$30,798$29,337$27,951$22,593
6 years$28,015$26,405$24,889$23,461$22,117$17,034
7 years$23,771$22,175$20,683$19,289$17,987$13,179
8 years$20,590$19,008$17,541$16,181$14,922$10,384
9 years$18,116$16,550$15,108$13,783$12,567$8,294
10 years$16,139$14,588$13,171$11,881$10,707$6,692
11 years$14,522$12,987$11,596$10,340$9,209$5,442
12 years$13,176$11,656$10,291$9,069$7,980$4,453
13 years$12,038$10,534$9,194$8,007$6,959$3,662
14 years$11,063$9,575$8,261$7,108$6,100$3,023
15 years$10,219$8,747$7,459$6,339$5,371$2,504
16 years$9,481$8,025$6,762$5,676$4,747$2,079
17 years$8,831$7,391$6,154$5,100$4,209$1,730
18 years$8,253$6,829$5,617$4,596$3,742$1,443
19 years$7,737$6,330$5,142$4,153$3,336$1,204
20 years$7,273$5,882$4,719$3,761$2,979$1,007
21 years$6,854$5,479$4,341$3,413$2,666$842
22 years$6,473$5,114$4,001$3,104$2,390$705
23 years$6,127$4,783$3,694$2,826$2,145$591
24 years$5,809$4,481$3,416$2,578$1,928$496
25 years$5,517$4,206$3,164$2,354$1,735$416
26 years$5,248$3,953$2,935$2,153$1,563$349
27 years$5,000$3,720$2,725$1,970$1,409$293
28 years$4,770$3,505$2,533$1,805$1,271$246
29 years$4,556$3,307$2,358$1,655$1,148$207
30 years$4,356$3,123$2,196$1,519$1,037$174
31 years$4,170$2,952$2,047$1,395$938$146
32 years$3,996$2,793$1,910$1,282$848$123
33 years$3,832$2,645$1,783$1,179$768$103
34 years$3,679$2,507$1,666$1,085$695$87
35 years$3,535$2,378$1,558$999$630$73
36 years$3,399$2,257$1,457$920$570$61
37 years$3,271$2,144$1,364$848$517$51
38 years$3,149$2,037$1,277$781$469$43
39 years$3,034$1,937$1,197$720$425$36
40 years$2,926$1,843$1,122$664$386$31
41 years$2,823$1,754$1,052$613$350$26
42 years$2,725$1,671$987$566$317$22
43 years$2,631$1,592$926$522$288$18
44 years$2,543$1,518$869$482$261$15
45 years$2,458$1,447$816$445$237$13
46 years$2,377$1,381$766$411$216$11
47 years$2,301$1,317$720$380$196$9
48 years$2,227$1,258$677$351$178$8
49 years$2,157$1,201$636$325$161$6
50 years$2,089$1,147$598$300$147$5

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 $2,313 every year, while hoping to spend $31,714 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: 46/34/20 Blend
55$2,140,000$2,140,000$2,140,000$2,140,000
56$2,360,666$2,247,246$2,214,076$2,455,653
57$2,567,710$2,323,617$2,254,504$2,598,743
58$2,794,810$2,402,668$2,295,223$2,750,550
59$3,043,978$2,484,496$2,336,211$2,914,592
60$3,317,430$2,569,203$2,377,440$3,092,023
61$3,617,608$2,656,894$2,418,884$3,284,114
62$3,947,200$2,747,678$2,460,513$3,492,259
63$4,309,170$2,841,669$2,502,295$3,717,995
64$4,706,780$2,938,986$2,544,197$3,963,012
65$5,143,626$3,039,751$2,586,182$4,229,168
66$5,623,668$3,144,090$2,628,211$4,518,507
67$6,151,269$3,252,138$2,670,243$4,833,282
68$6,731,236$3,364,030$2,712,234$5,175,967
69$7,368,864$3,479,910$2,754,136$5,549,290
70$8,069,989$3,599,925$2,795,900$5,956,250
71$8,841,037$3,724,231$2,837,472$6,400,149
72$9,689,092$3,852,987$2,878,796$6,884,624
73$10,621,955$3,986,360$2,919,812$7,413,677
74$11,648,225$4,124,522$2,960,455$7,991,714
75$12,777,373$4,267,652$3,000,660$8,623,588
76$14,019,837$4,415,939$3,040,354$9,314,641
77$15,387,116$4,569,576$3,079,462$10,070,756
78$16,891,881$4,728,764$3,117,903$10,898,413
79$18,548,094$4,893,714$3,155,593$11,804,745
80$20,371,137$5,064,644$3,192,443$12,797,610
81$22,377,961$5,241,780$3,228,359$13,885,663
82$24,587,244$5,425,358$3,263,240$15,078,435
83$27,019,566$5,615,624$3,296,981$16,386,424
84$29,697,604$5,812,832$3,329,472$17,821,195
85$32,646,346$6,017,247$3,360,596$19,395,484
86$35,893,327$6,229,146$3,390,230$21,123,323
87$39,468,888$6,448,815$3,418,243$23,020,167
88$43,406,460$6,676,553$3,444,500$25,103,043
89$47,742,885$6,912,670$3,468,857$27,390,706
90$52,518,757$7,157,489$3,491,162$29,903,821
91$57,778,811$7,411,346$3,511,256$32,665,149
92$63,572,338$7,674,591$3,528,972$35,699,770
93$69,953,659$7,947,588$3,544,135$39,035,311
94$76,982,628$8,230,715$3,556,559$42,702,212
95$84,725,203$8,524,367$3,566,051$46,734,010
96$93,254,066$8,828,954$3,572,406$51,167,652
97$102,649,311$9,144,903$3,575,412$56,043,847
98$112,999,196$9,472,659$3,574,843$61,407,449
99$124,400,978$9,812,683$3,570,465$67,307,875
100$136,961,832$10,165,458$3,562,029$73,799,575