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%15.9%
1 years$177,545$175,964$174,421$172,915$171,444$167,299
2 years$87,894$86,257$84,670$83,132$81,640$77,489
3 years$58,014$56,370$54,787$53,263$51,796$47,769
4 years$43,077$41,438$39,871$38,373$36,941$33,069
5 years$34,117$32,488$30,942$29,474$28,082$24,375
6 years$28,145$26,529$25,005$23,571$22,220$18,683
7 years$23,882$22,279$20,780$19,379$18,071$14,703
8 years$20,686$19,097$17,623$16,257$14,992$11,792
9 years$18,201$16,627$15,178$13,847$12,625$9,591
10 years$16,215$14,656$13,233$11,936$10,757$7,885
11 years$14,590$13,048$11,650$10,388$9,252$6,537
12 years$13,238$11,711$10,339$9,112$8,017$5,457
13 years$12,094$10,583$9,237$8,044$6,991$4,579
14 years$11,115$9,620$8,300$7,141$6,128$3,860
15 years$10,267$8,788$7,494$6,368$5,396$3,265
16 years$9,525$8,063$6,794$5,702$4,769$2,771
17 years$8,872$7,425$6,182$5,123$4,229$2,357
18 years$8,292$6,861$5,644$4,617$3,760$2,009
19 years$7,773$6,359$5,166$4,172$3,351$1,716
20 years$7,307$5,909$4,742$3,779$2,993$1,467
21 years$6,886$5,504$4,361$3,429$2,679$1,257
22 years$6,504$5,138$4,020$3,118$2,401$1,077
23 years$6,155$4,805$3,711$2,840$2,155$924
24 years$5,836$4,502$3,432$2,590$1,937$794
25 years$5,543$4,225$3,179$2,365$1,743$682
26 years$5,273$3,971$2,948$2,163$1,570$586
27 years$5,023$3,737$2,738$1,980$1,416$504
28 years$4,792$3,522$2,545$1,814$1,277$434
29 years$4,577$3,322$2,369$1,663$1,153$374
30 years$4,376$3,137$2,206$1,526$1,042$322
31 years$4,189$2,966$2,057$1,402$942$277
32 years$4,014$2,806$1,919$1,288$852$239
33 years$3,850$2,658$1,792$1,185$771$206
34 years$3,696$2,519$1,674$1,090$698$177
35 years$3,551$2,389$1,565$1,003$633$153
36 years$3,415$2,268$1,464$924$573$132
37 years$3,286$2,154$1,370$852$519$114
38 years$3,164$2,047$1,283$785$471$98
39 years$3,049$1,946$1,202$724$427$85
40 years$2,939$1,852$1,127$667$387$73
41 years$2,836$1,763$1,057$616$351$63
42 years$2,737$1,679$991$568$319$54
43 years$2,644$1,599$930$525$289$47
44 years$2,555$1,525$873$484$263$40
45 years$2,470$1,454$820$447$238$35
46 years$2,389$1,387$770$413$217$30
47 years$2,311$1,324$723$382$197$26
48 years$2,237$1,264$680$353$179$22
49 years$2,167$1,207$639$326$162$19
50 years$2,099$1,153$601$301$147$17

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 $5,272 every year, while hoping to spend $59,025 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: 67/28/5 Blend
55$2,150,000$2,150,000$2,150,000$2,150,000
56$2,374,738$2,260,788$2,227,463$2,532,052
57$2,554,159$2,308,765$2,239,281$2,684,942
58$2,749,903$2,357,114$2,249,516$2,844,363
59$2,963,572$2,405,791$2,258,054$3,017,033
60$3,196,931$2,454,749$2,264,773$3,204,234
61$3,451,921$2,503,935$2,269,546$3,407,379
62$3,730,680$2,553,291$2,272,239$3,628,022
63$4,035,563$2,602,756$2,272,713$3,867,875
64$4,369,160$2,652,261$2,270,819$4,128,826
65$4,734,327$2,701,734$2,266,404$4,412,953
66$5,134,206$2,751,097$2,259,306$4,722,543
67$5,572,257$2,800,262$2,249,354$5,060,119
68$6,052,291$2,849,139$2,236,372$5,428,459
69$6,578,507$2,897,629$2,220,172$5,830,623
70$7,155,526$2,945,624$2,200,560$6,269,984
71$7,788,441$2,993,011$2,177,329$6,750,256
72$8,482,859$3,039,665$2,150,267$7,275,533
73$9,244,957$3,085,456$2,119,148$7,850,326
74$10,081,540$3,130,241$2,083,737$8,479,606
75$11,000,103$3,173,869$2,043,788$9,168,848
76$12,008,903$3,216,177$1,999,043$9,924,089
77$13,117,033$3,256,992$1,949,234$10,751,979
78$14,334,515$3,296,129$1,894,077$11,659,847
79$15,672,385$3,333,389$1,833,278$12,655,770
80$17,142,804$3,368,560$1,766,529$13,748,649
81$18,759,168$3,401,419$1,693,506$14,948,291
82$20,536,238$3,431,722$1,613,873$16,265,507
83$22,490,273$3,459,215$1,527,277$17,712,209
84$24,639,188$3,483,625$1,433,348$19,301,526
85$27,002,723$3,504,660$1,331,703$21,047,927
86$29,602,624$3,522,012$1,221,938$22,967,357
87$32,462,852$3,535,350$1,103,633$25,077,389
88$35,609,807$3,544,327$976,349$27,397,391
89$39,072,578$3,548,569$839,627$29,948,708
90$42,883,214$3,547,682$692,988$32,754,861
91$47,077,029$3,541,246$535,931$35,841,778
92$51,692,936$3,528,817$367,934$39,238,030
93$56,773,807$3,509,921$188,452$42,975,106
94$62,366,886$3,484,057$0$47,087,711
95$68,524,226$3,450,693$0$51,614,257
96$75,303,186$3,409,267$0$56,607,473
97$82,766,969$3,359,179$0$62,103,783
98$90,985,218$3,299,796$0$68,154,423
99$100,034,672$3,230,449$0$74,815,855
100$109,999,894$3,150,426$0$82,150,305