Can I retire at age 56 with 2,160,000?

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 $2,160,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.4%
1 years$178,371$176,782$175,232$173,719$172,241$165,735
2 years$88,302$86,658$85,064$83,519$82,020$75,540
3 years$58,283$56,632$55,042$53,511$52,037$45,788
4 years$43,277$41,630$40,057$38,552$37,113$31,142
5 years$34,275$32,639$31,085$29,611$28,213$22,536
6 years$28,276$26,652$25,122$23,681$22,324$16,945
7 years$23,993$22,382$20,876$19,469$18,155$13,072
8 years$20,782$19,186$17,705$16,332$15,061$10,270
9 years$18,286$16,705$15,249$13,911$12,684$8,177
10 years$16,290$14,724$13,294$11,992$10,807$6,576
11 years$14,658$13,108$11,704$10,436$9,295$5,331
12 years$13,299$11,765$10,387$9,154$8,055$4,348
13 years$12,150$10,632$9,280$8,082$7,024$3,563
14 years$11,166$9,664$8,338$7,174$6,157$2,931
15 years$10,314$8,829$7,528$6,398$5,421$2,419
16 years$9,570$8,100$6,826$5,729$4,791$2,002
17 years$8,913$7,460$6,211$5,147$4,248$1,660
18 years$8,330$6,893$5,670$4,639$3,777$1,378
19 years$7,809$6,389$5,191$4,191$3,367$1,146
20 years$7,341$5,937$4,764$3,796$3,007$955
21 years$6,918$5,530$4,382$3,445$2,691$796
22 years$6,534$5,162$4,038$3,133$2,412$664
23 years$6,184$4,828$3,729$2,853$2,165$554
24 years$5,863$4,523$3,448$2,602$1,946$463
25 years$5,569$4,245$3,194$2,376$1,751$387
26 years$5,297$3,990$2,962$2,173$1,578$323
27 years$5,047$3,755$2,751$1,989$1,422$270
28 years$4,814$3,538$2,557$1,822$1,283$226
29 years$4,598$3,338$2,380$1,671$1,159$189
30 years$4,397$3,152$2,216$1,533$1,047$158
31 years$4,209$2,980$2,066$1,408$947$132
32 years$4,033$2,819$1,928$1,294$856$111
33 years$3,868$2,670$1,800$1,190$775$93
34 years$3,713$2,531$1,682$1,095$702$78
35 years$3,568$2,400$1,573$1,008$636$65
36 years$3,431$2,278$1,471$928$576$54
37 years$3,301$2,164$1,377$855$522$46
38 years$3,179$2,056$1,289$788$473$38
39 years$3,063$1,955$1,208$727$429$32
40 years$2,953$1,860$1,132$671$389$27
41 years$2,849$1,771$1,062$619$353$22
42 years$2,750$1,687$996$571$320$19
43 years$2,656$1,607$935$527$291$16
44 years$2,566$1,532$877$487$264$13
45 years$2,481$1,461$824$449$240$11
46 years$2,400$1,393$774$415$218$9
47 years$2,322$1,330$727$384$198$8
48 years$2,248$1,269$683$354$179$6
49 years$2,177$1,212$642$328$163$5
50 years$2,109$1,158$604$303$148$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $2,160,000, adding $6,061 every year, while hoping to spend $41,534 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: 47/26/27 Blend
55$2,160,000$2,160,000$2,160,000$2,160,000
56$2,386,572$2,272,092$2,238,612$2,480,029
57$2,585,810$2,339,233$2,269,414$2,613,647
58$2,803,979$2,408,271$2,299,855$2,754,066
59$3,042,965$2,479,257$2,329,880$2,905,686
60$3,304,847$2,552,239$2,359,430$3,069,579
61$3,591,912$2,627,270$2,388,443$3,246,928
62$3,906,683$2,704,402$2,416,851$3,439,034
63$4,251,934$2,783,687$2,444,585$3,647,331
64$4,630,725$2,865,181$2,471,572$3,873,395
65$5,046,422$2,948,939$2,497,733$4,118,966
66$5,502,737$3,035,016$2,522,987$4,385,958
67$6,003,755$3,123,471$2,547,246$4,676,479
68$6,553,979$3,214,362$2,570,420$4,992,850
69$7,158,368$3,307,749$2,592,412$5,337,631
70$7,822,385$3,403,692$2,613,121$5,713,639
71$8,552,049$3,502,253$2,632,441$6,123,979
72$9,353,989$3,603,495$2,650,259$6,572,070
73$10,235,510$3,707,480$2,666,457$7,061,681
74$11,204,660$3,814,275$2,680,911$7,596,962
75$12,270,305$3,923,944$2,693,491$8,182,488
76$13,442,213$4,036,554$2,704,060$8,823,298
77$14,731,146$4,152,173$2,712,473$9,524,945
78$16,148,962$4,270,868$2,718,580$10,293,546
79$17,708,725$4,392,710$2,722,222$11,135,843
80$19,424,830$4,517,767$2,723,231$12,059,265
81$21,313,137$4,646,112$2,721,433$13,071,995
82$23,391,121$4,777,815$2,716,645$14,183,055
83$25,678,036$4,912,949$2,708,674$15,402,383
84$28,195,099$5,051,587$2,697,318$16,740,931
85$30,965,687$5,193,802$2,682,365$18,210,769
86$34,015,557$5,339,669$2,663,595$19,825,196
87$37,373,091$5,489,261$2,640,773$21,598,867
88$41,069,565$5,642,653$2,613,657$23,547,935
89$45,139,439$5,799,920$2,581,993$25,690,196
90$49,620,683$5,961,139$2,545,512$28,045,265
91$54,555,141$6,126,383$2,503,935$30,634,755
92$59,988,918$6,295,728$2,456,969$33,482,486
93$65,972,819$6,469,250$2,404,308$36,614,706
94$72,562,826$6,647,022$2,345,632$40,060,343
95$79,820,628$6,829,120$2,280,604$43,851,274
96$87,814,202$7,015,617$2,208,875$48,022,631
97$96,618,455$7,206,587$2,130,076$52,613,128
98$106,315,928$7,402,101$2,043,825$57,665,429
99$116,997,579$7,602,230$1,949,719$63,226,553
100$128,763,638$7,807,045$1,847,340$69,348,316