Can I retire at age 56 with 2,170,000?

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 $2,170,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.1%
1 years$179,197$177,600$176,043$174,523$173,039$172,237
2 years$88,711$87,059$85,458$83,905$82,399$81,590
3 years$58,553$56,894$55,297$53,759$52,278$51,486
4 years$43,477$41,823$40,242$38,730$37,285$36,517
5 years$34,434$32,790$31,229$29,749$28,343$27,601
6 years$28,407$26,775$25,238$23,790$22,427$21,712
7 years$24,104$22,486$20,973$19,559$18,239$17,551
8 years$20,878$19,275$17,787$16,408$15,131$14,470
9 years$18,370$16,782$15,320$13,976$12,743$12,109
10 years$16,365$14,793$13,356$12,047$10,857$10,251
11 years$14,726$13,169$11,758$10,485$9,338$8,757
12 years$13,361$11,820$10,435$9,196$8,092$7,537
13 years$12,207$10,682$9,323$8,119$7,056$6,527
14 years$11,218$9,709$8,377$7,207$6,185$5,681
15 years$10,362$8,870$7,563$6,428$5,446$4,966
16 years$9,614$8,138$6,857$5,755$4,813$4,357
17 years$8,954$7,494$6,240$5,171$4,268$3,834
18 years$8,369$6,925$5,696$4,660$3,795$3,383
19 years$7,846$6,418$5,215$4,211$3,382$2,993
20 years$7,375$5,964$4,786$3,814$3,021$2,652
21 years$6,950$5,555$4,402$3,461$2,704$2,354
22 years$6,564$5,186$4,057$3,147$2,423$2,093
23 years$6,212$4,850$3,746$2,866$2,175$1,864
24 years$5,890$4,544$3,464$2,614$1,955$1,662
25 years$5,595$4,265$3,209$2,387$1,759$1,483
26 years$5,322$4,008$2,976$2,183$1,585$1,324
27 years$5,070$3,772$2,763$1,998$1,429$1,184
28 years$4,836$3,554$2,569$1,831$1,289$1,059
29 years$4,619$3,353$2,391$1,679$1,164$948
30 years$4,417$3,167$2,227$1,541$1,052$849
31 years$4,228$2,994$2,076$1,415$951$761
32 years$4,052$2,832$1,937$1,300$860$682
33 years$3,886$2,682$1,808$1,196$779$612
34 years$3,731$2,542$1,690$1,100$705$549
35 years$3,584$2,411$1,580$1,013$638$493
36 years$3,446$2,289$1,478$933$578$442
37 years$3,316$2,174$1,383$859$524$397
38 years$3,193$2,066$1,295$792$475$357
39 years$3,077$1,964$1,214$730$431$320
40 years$2,967$1,869$1,138$674$391$288
41 years$2,862$1,779$1,067$622$355$259
42 years$2,763$1,694$1,001$574$322$233
43 years$2,668$1,614$939$530$292$209
44 years$2,578$1,539$881$489$265$188
45 years$2,493$1,467$827$452$241$169
46 years$2,411$1,400$777$417$219$152
47 years$2,333$1,336$730$385$198$137
48 years$2,258$1,275$686$356$180$123
49 years$2,187$1,218$645$329$164$111
50 years$2,119$1,163$606$304$149$100

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $2,170,000, adding $3,637 every year, while hoping to spend $24,113 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: 47/35/18 Blend
55$2,170,000$2,170,000$2,170,000$2,170,000
56$2,395,092$2,280,082$2,246,447$2,495,285
57$2,613,735$2,366,150$2,296,046$2,651,448
58$2,853,872$2,455,627$2,346,500$2,818,119
59$3,117,669$2,548,655$2,397,810$2,998,510
60$3,407,513$2,645,381$2,449,979$3,193,911
61$3,726,035$2,745,960$2,503,008$3,405,742
62$4,076,131$2,850,552$2,556,899$3,635,562
63$4,460,993$2,959,326$2,611,652$3,885,087
64$4,884,137$3,072,456$2,667,266$4,156,201
65$5,349,438$3,190,126$2,723,738$4,450,978
66$5,861,165$3,312,525$2,781,067$4,771,699
67$6,424,018$3,439,854$2,839,248$5,120,872
68$7,043,181$3,572,320$2,898,275$5,501,255
69$7,724,362$3,710,140$2,958,144$5,915,885
70$8,473,850$3,853,540$3,018,845$6,368,100
71$9,298,577$4,002,758$3,080,371$6,861,576
72$10,206,179$4,158,040$3,142,710$7,400,356
73$11,205,069$4,319,643$3,205,850$7,988,892
74$12,304,518$4,487,838$3,269,779$8,632,080
75$13,514,742$4,662,905$3,334,479$9,335,313
76$14,846,996$4,845,138$3,399,935$10,104,525
77$16,313,684$5,034,844$3,466,127$10,946,249
78$17,928,471$5,232,342$3,533,033$11,867,676
79$19,706,416$5,437,968$3,600,631$12,876,726
80$21,664,112$5,652,071$3,668,894$13,982,116
81$23,819,844$5,875,015$3,737,795$15,193,445
82$26,193,760$6,107,182$3,807,303$16,521,283
83$28,808,061$6,348,971$3,877,384$17,977,268
84$31,687,209$6,600,797$3,948,003$19,574,219
85$34,858,164$6,863,096$4,019,121$21,326,249
86$38,350,631$7,136,321$4,090,695$23,248,903
87$42,197,342$7,420,948$4,162,680$25,359,303
88$46,434,369$7,717,473$4,235,028$27,676,302
89$51,101,459$8,026,413$4,307,686$30,220,669
90$56,242,412$8,348,311$4,380,597$33,015,277
91$61,905,493$8,683,733$4,453,702$36,085,323
92$68,143,888$9,033,271$4,526,936$39,458,560
93$75,016,207$9,397,544$4,600,231$43,165,556
94$82,587,034$9,777,197$4,673,513$47,239,988
95$90,927,539$10,172,908$4,746,703$51,718,952
96$100,116,150$10,585,382$4,819,719$56,643,311
97$110,239,290$11,015,359$4,892,473$62,058,083
98$121,392,196$11,463,610$4,964,869$68,012,861
99$133,679,817$11,930,943$5,036,808$74,562,280
100$147,217,801$12,418,202$5,108,185$81,766,530