Can I retire at age 56 with 2,150,000?

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 $2,150,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.2%
1 years$177,545$175,964$174,421$172,915$171,444$165,098
2 years$87,894$86,257$84,670$83,132$81,640$75,319
3 years$58,014$56,370$54,787$53,263$51,796$45,697
4 years$43,077$41,438$39,871$38,373$36,941$31,112
5 years$34,117$32,488$30,942$29,474$28,082$22,538
6 years$28,145$26,529$25,005$23,571$22,220$16,965
7 years$23,882$22,279$20,780$19,379$18,071$13,103
8 years$20,686$19,097$17,623$16,257$14,992$10,306
9 years$18,201$16,627$15,178$13,847$12,625$8,216
10 years$16,215$14,656$13,233$11,936$10,757$6,616
11 years$14,590$13,048$11,650$10,388$9,252$5,370
12 years$13,238$11,711$10,339$9,112$8,017$4,385
13 years$12,094$10,583$9,237$8,044$6,991$3,599
14 years$11,115$9,620$8,300$7,141$6,128$2,965
15 years$10,267$8,788$7,494$6,368$5,396$2,450
16 years$9,525$8,063$6,794$5,702$4,769$2,030
17 years$8,872$7,425$6,182$5,123$4,229$1,686
18 years$8,292$6,861$5,644$4,617$3,760$1,402
19 years$7,773$6,359$5,166$4,172$3,351$1,168
20 years$7,307$5,909$4,742$3,779$2,993$974
21 years$6,886$5,504$4,361$3,429$2,679$813
22 years$6,504$5,138$4,020$3,118$2,401$679
23 years$6,155$4,805$3,711$2,840$2,155$568
24 years$5,836$4,502$3,432$2,590$1,937$475
25 years$5,543$4,225$3,179$2,365$1,743$398
26 years$5,273$3,971$2,948$2,163$1,570$333
27 years$5,023$3,737$2,738$1,980$1,416$279
28 years$4,792$3,522$2,545$1,814$1,277$234
29 years$4,577$3,322$2,369$1,663$1,153$196
30 years$4,376$3,137$2,206$1,526$1,042$164
31 years$4,189$2,966$2,057$1,402$942$138
32 years$4,014$2,806$1,919$1,288$852$115
33 years$3,850$2,658$1,792$1,185$771$97
34 years$3,696$2,519$1,674$1,090$698$81
35 years$3,551$2,389$1,565$1,003$633$68
36 years$3,415$2,268$1,464$924$573$57
37 years$3,286$2,154$1,370$852$519$48
38 years$3,164$2,047$1,283$785$471$40
39 years$3,049$1,946$1,202$724$427$34
40 years$2,939$1,852$1,127$667$387$28
41 years$2,836$1,763$1,057$616$351$24
42 years$2,737$1,679$991$568$319$20
43 years$2,644$1,599$930$525$289$17
44 years$2,555$1,525$873$484$263$14
45 years$2,470$1,454$820$447$238$12
46 years$2,389$1,387$770$413$217$10
47 years$2,311$1,324$723$382$197$8
48 years$2,237$1,264$680$353$179$7
49 years$2,167$1,207$639$326$162$6
50 years$2,099$1,153$601$301$147$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $2,150,000, adding $5,133 every year, while hoping to spend $29,659 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: 46/24/30 Blend
55$2,150,000$2,150,000$2,150,000$2,150,000
56$2,374,595$2,260,645$2,227,320$2,463,086
57$2,585,246$2,339,859$2,270,378$2,605,696
58$2,816,391$2,421,961$2,313,885$2,757,095
59$3,070,086$2,507,061$2,357,823$2,920,817
60$3,348,601$2,595,273$2,402,176$3,098,034
61$3,654,433$2,686,717$2,446,924$3,290,037
62$3,990,335$2,781,515$2,492,046$3,498,247
63$4,359,338$2,879,799$2,537,519$3,724,224
64$4,764,782$2,981,700$2,583,317$3,969,688
65$5,210,346$3,087,360$2,629,415$4,236,532
66$5,700,084$3,196,923$2,675,782$4,526,838
67$6,238,461$3,310,541$2,722,390$4,842,897
68$6,830,397$3,428,370$2,769,203$5,187,233
69$7,481,312$3,550,575$2,816,186$5,562,625
70$8,197,179$3,677,326$2,863,300$5,972,130
71$8,984,576$3,808,800$2,910,506$6,419,115
72$9,850,753$3,945,181$2,957,758$6,907,289
73$10,803,697$4,086,663$3,005,010$7,440,734
74$11,852,209$4,233,444$3,052,213$8,023,947
75$13,005,985$4,385,733$3,099,313$8,661,878
76$14,275,709$4,543,747$3,146,253$9,359,982
77$15,673,152$4,707,712$3,192,974$10,124,263
78$17,211,287$4,877,863$3,239,411$10,961,336
79$18,904,405$5,054,445$3,285,498$11,878,488
80$20,768,254$5,237,713$3,331,162$12,883,743
81$22,820,187$5,427,932$3,376,327$13,985,941
82$25,079,324$5,625,379$3,420,913$15,194,820
83$27,566,736$5,830,343$3,464,834$16,521,106
84$30,305,637$6,043,123$3,507,999$17,976,616
85$33,321,609$6,264,034$3,550,315$19,574,367
86$36,642,841$6,493,400$3,591,679$21,328,699
87$40,300,396$6,731,561$3,631,985$23,255,411
88$44,328,501$6,978,872$3,671,121$25,371,908
89$48,764,873$7,235,702$3,708,968$27,697,366
90$53,651,073$7,502,434$3,745,401$30,252,912
91$59,032,898$7,779,470$3,780,289$33,061,820
92$64,960,817$8,067,227$3,813,491$36,149,737
93$71,490,441$8,366,141$3,844,863$39,544,918
94$78,683,049$8,676,666$3,874,250$43,278,493
95$86,606,173$8,999,274$3,901,490$47,384,763
96$95,334,225$9,334,461$3,926,412$51,901,523
97$104,949,206$9,682,740$3,948,837$56,870,414
98$115,541,478$10,044,647$3,968,576$62,337,318
99$127,210,616$10,420,743$3,985,431$68,352,794
100$140,066,350$10,811,610$3,999,194$74,972,545