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

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 $2,150,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.4%
1 years$177,545$175,964$174,421$172,915$171,444$166,961
2 years$87,894$86,257$84,670$83,132$81,640$77,154
3 years$58,014$56,370$54,787$53,263$51,796$47,447
4 years$43,077$41,438$39,871$38,373$36,941$32,763
5 years$34,117$32,488$30,942$29,474$28,082$24,086
6 years$28,145$26,529$25,005$23,571$22,220$18,411
7 years$23,882$22,279$20,780$19,379$18,071$14,448
8 years$20,686$19,097$17,623$16,257$14,992$11,554
9 years$18,201$16,627$15,178$13,847$12,625$9,369
10 years$16,215$14,656$13,233$11,936$10,757$7,679
11 years$14,590$13,048$11,650$10,388$9,252$6,346
12 years$13,238$11,711$10,339$9,112$8,017$5,280
13 years$12,094$10,583$9,237$8,044$6,991$4,416
14 years$11,115$9,620$8,300$7,141$6,128$3,709
15 years$10,267$8,788$7,494$6,368$5,396$3,127
16 years$9,525$8,063$6,794$5,702$4,769$2,644
17 years$8,872$7,425$6,182$5,123$4,229$2,241
18 years$8,292$6,861$5,644$4,617$3,760$1,903
19 years$7,773$6,359$5,166$4,172$3,351$1,619
20 years$7,307$5,909$4,742$3,779$2,993$1,380
21 years$6,886$5,504$4,361$3,429$2,679$1,177
22 years$6,504$5,138$4,020$3,118$2,401$1,005
23 years$6,155$4,805$3,711$2,840$2,155$859
24 years$5,836$4,502$3,432$2,590$1,937$735
25 years$5,543$4,225$3,179$2,365$1,743$629
26 years$5,273$3,971$2,948$2,163$1,570$538
27 years$5,023$3,737$2,738$1,980$1,416$461
28 years$4,792$3,522$2,545$1,814$1,277$395
29 years$4,577$3,322$2,369$1,663$1,153$339
30 years$4,376$3,137$2,206$1,526$1,042$291
31 years$4,189$2,966$2,057$1,402$942$249
32 years$4,014$2,806$1,919$1,288$852$214
33 years$3,850$2,658$1,792$1,185$771$184
34 years$3,696$2,519$1,674$1,090$698$158
35 years$3,551$2,389$1,565$1,003$633$135
36 years$3,415$2,268$1,464$924$573$116
37 years$3,286$2,154$1,370$852$519$100
38 years$3,164$2,047$1,283$785$471$86
39 years$3,049$1,946$1,202$724$427$74
40 years$2,939$1,852$1,127$667$387$63
41 years$2,836$1,763$1,057$616$351$54
42 years$2,737$1,679$991$568$319$47
43 years$2,644$1,599$930$525$289$40
44 years$2,555$1,525$873$484$263$34
45 years$2,470$1,454$820$447$238$30
46 years$2,389$1,387$770$413$217$25
47 years$2,311$1,324$723$382$197$22
48 years$2,237$1,264$680$353$179$19
49 years$2,167$1,207$639$326$162$16
50 years$2,099$1,153$601$301$147$14

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 $3,702 every year, while hoping to spend $56,223 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: 78/6/16 Blend
55$2,150,000$2,150,000$2,150,000$2,150,000
56$2,373,119$2,259,169$2,225,844$2,549,760
57$2,555,356$2,310,047$2,240,589$2,717,636
58$2,754,297$2,361,534$2,253,943$2,894,252
59$2,971,586$2,413,600$2,265,801$3,086,434
60$3,209,034$2,466,213$2,276,052$3,295,717
61$3,468,634$2,519,335$2,284,578$3,523,794
62$3,752,579$2,572,928$2,291,256$3,772,527
63$4,063,287$2,626,946$2,295,957$4,043,969
64$4,403,417$2,681,341$2,298,546$4,340,382
65$4,775,899$2,736,060$2,298,881$4,664,258
66$5,183,959$2,791,045$2,296,812$5,018,341
67$5,631,150$2,846,233$2,292,182$5,405,655
68$6,121,385$2,901,557$2,284,828$5,829,533
69$6,658,973$2,956,940$2,274,577$6,293,647
70$7,248,662$3,012,304$2,261,249$6,802,040
71$7,895,679$3,067,560$2,244,654$7,359,171
72$8,605,782$3,122,614$2,224,594$7,969,952
73$9,385,316$3,177,366$2,200,862$8,639,793
74$10,241,267$3,231,706$2,173,239$9,374,658
75$11,181,332$3,285,516$2,141,499$10,181,119
76$12,213,991$3,338,669$2,105,402$11,066,418
77$13,348,584$3,391,030$2,064,699$12,038,532
78$14,595,402$3,442,452$2,019,129$13,106,255
79$15,965,781$3,492,781$1,968,418$14,279,278
80$17,472,210$3,541,847$1,912,280$15,568,277
81$19,128,450$3,589,472$1,850,416$16,985,020
82$20,949,660$3,635,463$1,782,512$18,542,474
83$22,952,541$3,679,617$1,708,242$20,254,928
84$25,155,496$3,721,714$1,627,264$22,138,130
85$27,578,799$3,761,520$1,539,220$24,209,433
86$30,244,788$3,798,786$1,443,735$26,487,961
87$33,178,076$3,833,247$1,340,420$28,994,790
88$36,405,781$3,864,617$1,228,866$31,753,144
89$39,957,784$3,892,597$1,108,646$34,788,618
90$43,867,007$3,916,864$979,315$38,129,418
91$48,169,728$3,937,076$840,408$41,806,627
92$52,905,917$3,952,869$691,438$45,854,502
93$58,119,618$3,963,857$531,899$50,310,791
94$63,859,361$3,969,628$361,260$55,217,096
95$70,178,621$3,969,746$178,968$60,619,265
96$77,136,323$3,963,746$0$66,567,822
97$84,797,394$3,951,135$0$73,121,103
98$93,233,379$3,931,392$0$80,370,591
99$102,523,114$3,903,960$0$88,353,428
100$112,753,470$3,868,253$0$97,144,248