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%14.2%
1 years$179,197$177,600$176,043$174,523$173,039$170,032
2 years$88,711$87,059$85,458$83,905$82,399$79,380
3 years$58,553$56,894$55,297$53,759$52,278$49,340
4 years$43,477$41,823$40,242$38,730$37,285$34,451
5 years$34,434$32,790$31,229$29,749$28,343$25,621
6 years$28,407$26,775$25,238$23,790$22,427$19,820
7 years$24,104$22,486$20,973$19,559$18,239$15,748
8 years$20,878$19,275$17,787$16,408$15,131$12,756
9 years$18,370$16,782$15,320$13,976$12,743$10,481
10 years$16,365$14,793$13,356$12,047$10,857$8,708
11 years$14,726$13,169$11,758$10,485$9,338$7,298
12 years$13,361$11,820$10,435$9,196$8,092$6,159
13 years$12,207$10,682$9,323$8,119$7,056$5,227
14 years$11,218$9,709$8,377$7,207$6,185$4,457
15 years$10,362$8,870$7,563$6,428$5,446$3,815
16 years$9,614$8,138$6,857$5,755$4,813$3,277
17 years$8,954$7,494$6,240$5,171$4,268$2,822
18 years$8,369$6,925$5,696$4,660$3,795$2,435
19 years$7,846$6,418$5,215$4,211$3,382$2,106
20 years$7,375$5,964$4,786$3,814$3,021$1,824
21 years$6,950$5,555$4,402$3,461$2,704$1,583
22 years$6,564$5,186$4,057$3,147$2,423$1,375
23 years$6,212$4,850$3,746$2,866$2,175$1,195
24 years$5,890$4,544$3,464$2,614$1,955$1,040
25 years$5,595$4,265$3,209$2,387$1,759$906
26 years$5,322$4,008$2,976$2,183$1,585$790
27 years$5,070$3,772$2,763$1,998$1,429$689
28 years$4,836$3,554$2,569$1,831$1,289$601
29 years$4,619$3,353$2,391$1,679$1,164$525
30 years$4,417$3,167$2,227$1,541$1,052$458
31 years$4,228$2,994$2,076$1,415$951$400
32 years$4,052$2,832$1,937$1,300$860$350
33 years$3,886$2,682$1,808$1,196$779$306
34 years$3,731$2,542$1,690$1,100$705$267
35 years$3,584$2,411$1,580$1,013$638$234
36 years$3,446$2,289$1,478$933$578$204
37 years$3,316$2,174$1,383$859$524$179
38 years$3,193$2,066$1,295$792$475$156
39 years$3,077$1,964$1,214$730$431$137
40 years$2,967$1,869$1,138$674$391$120
41 years$2,862$1,779$1,067$622$355$105
42 years$2,763$1,694$1,001$574$322$92
43 years$2,668$1,614$939$530$292$80
44 years$2,578$1,539$881$489$265$70
45 years$2,493$1,467$827$452$241$62
46 years$2,411$1,400$777$417$219$54
47 years$2,333$1,336$730$385$198$47
48 years$2,258$1,275$686$356$180$41
49 years$2,187$1,218$645$329$164$36
50 years$2,119$1,163$606$304$149$32

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 $6,447 every year, while hoping to spend $30,611 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: 33/43/24 Blend
55$2,170,000$2,170,000$2,170,000$2,170,000
56$2,397,990$2,282,980$2,249,345$2,459,347
57$2,610,015$2,362,276$2,292,128$2,585,294
58$2,842,641$2,444,432$2,335,319$2,717,726
59$3,097,936$2,529,555$2,378,898$2,859,839
60$3,378,180$2,617,758$2,422,845$3,012,507
61$3,685,883$2,709,156$2,467,139$3,176,691
62$4,023,810$2,803,871$2,511,755$3,353,444
63$4,395,007$2,902,030$2,556,667$3,543,925
64$4,802,831$3,003,763$2,601,849$3,749,407
65$5,250,978$3,109,205$2,647,269$3,971,289
66$5,743,521$3,218,500$2,692,896$4,211,106
67$6,284,947$3,331,793$2,738,695$4,470,550
68$6,880,200$3,449,239$2,784,630$4,751,477
69$7,534,726$3,570,997$2,830,660$5,055,931
70$8,254,524$3,697,233$2,876,744$5,386,158
71$9,046,207$3,828,118$2,922,836$5,744,629
72$9,917,057$3,963,833$2,968,888$6,134,062
73$10,875,101$4,104,565$3,014,850$6,557,447
74$11,929,180$4,250,507$3,060,666$7,018,073
75$13,089,037$4,401,863$3,106,278$7,519,561
76$14,365,406$4,558,841$3,151,626$8,065,895
77$15,770,115$4,721,662$3,196,643$8,661,457
78$17,316,197$4,890,554$3,241,261$9,311,074
79$19,018,012$5,065,754$3,285,406$10,020,056
80$20,891,381$5,247,508$3,329,000$10,794,251
81$22,953,741$5,436,075$3,371,960$11,640,092
82$25,224,302$5,631,722$3,414,200$12,564,668
83$27,724,232$5,834,728$3,455,627$13,575,778
84$30,476,858$6,045,383$3,496,144$14,682,012
85$33,507,881$6,263,990$3,535,649$15,892,828
86$36,845,623$6,490,864$3,574,031$17,218,642
87$40,521,293$6,726,333$3,611,178$18,670,921
88$44,569,280$6,970,739$3,646,968$20,262,297
89$49,027,479$7,224,437$3,681,273$22,006,678
90$53,937,646$7,487,798$3,713,960$23,919,385
91$59,345,794$7,761,210$3,744,886$26,017,290
92$65,302,629$8,045,073$3,773,904$28,318,978
93$71,864,024$8,339,808$3,800,856$30,844,916
94$79,091,547$8,645,851$3,825,578$33,617,653
95$87,053,046$8,963,659$3,847,895$36,662,024
96$95,823,283$9,293,705$3,867,627$40,005,385
97$105,484,646$9,636,484$3,884,580$43,677,875
98$116,127,920$9,992,512$3,898,554$47,712,691
99$127,853,150$10,362,327$3,909,337$52,146,404
100$140,770,578$10,746,488$3,916,707$57,019,305