Can I retire at age 56 with 2,180,000?

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 $2,180,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.7%
1 years$180,022$178,419$176,854$175,327$173,836$172,596
2 years$89,120$87,460$85,852$84,292$82,779$81,529
3 years$58,823$57,156$55,552$54,007$52,519$51,296
4 years$43,678$42,016$40,427$38,909$37,457$36,272
5 years$34,593$32,941$31,373$29,886$28,474$27,331
6 years$28,538$26,899$25,354$23,900$22,530$21,430
7 years$24,215$22,590$21,070$19,649$18,323$17,266
8 years$20,974$19,363$17,869$16,483$15,201$14,187
9 years$18,455$16,859$15,390$14,040$12,801$11,830
10 years$16,441$14,861$13,418$12,103$10,907$9,979
11 years$14,794$13,230$11,813$10,533$9,381$8,494
12 years$13,422$11,874$10,483$9,239$8,129$7,283
13 years$12,263$10,731$9,366$8,157$7,089$6,283
14 years$11,270$9,754$8,416$7,240$6,214$5,447
15 years$10,410$8,910$7,598$6,457$5,471$4,743
16 years$9,658$8,175$6,889$5,782$4,836$4,144
17 years$8,996$7,529$6,269$5,195$4,288$3,632
18 years$8,407$6,957$5,722$4,682$3,812$3,191
19 years$7,882$6,448$5,239$4,230$3,398$2,811
20 years$7,409$5,992$4,808$3,831$3,035$2,480
21 years$6,982$5,581$4,422$3,477$2,716$2,192
22 years$6,594$5,210$4,076$3,162$2,435$1,940
23 years$6,241$4,872$3,763$2,879$2,185$1,720
24 years$5,918$4,565$3,480$2,626$1,964$1,526
25 years$5,620$4,284$3,223$2,398$1,768$1,356
26 years$5,347$4,026$2,990$2,193$1,592$1,205
27 years$5,093$3,789$2,776$2,007$1,435$1,072
28 years$4,859$3,571$2,581$1,839$1,295$955
29 years$4,641$3,369$2,402$1,686$1,170$850
30 years$4,438$3,181$2,237$1,548$1,057$758
31 years$4,248$3,007$2,086$1,421$955$676
32 years$4,070$2,846$1,946$1,306$864$603
33 years$3,904$2,695$1,817$1,201$782$538
34 years$3,748$2,554$1,698$1,105$708$480
35 years$3,601$2,422$1,587$1,017$641$429
36 years$3,462$2,299$1,485$937$581$383
37 years$3,332$2,184$1,390$863$527$342
38 years$3,208$2,075$1,301$796$478$306
39 years$3,091$1,973$1,219$734$433$274
40 years$2,980$1,878$1,143$677$393$245
41 years$2,875$1,787$1,072$624$356$219
42 years$2,775$1,702$1,005$576$323$196
43 years$2,681$1,622$943$532$293$175
44 years$2,590$1,546$885$491$266$156
45 years$2,504$1,474$831$454$242$140
46 years$2,422$1,406$781$419$220$125
47 years$2,344$1,342$734$387$199$112
48 years$2,269$1,281$689$358$181$100
49 years$2,197$1,223$648$331$164$90
50 years$2,128$1,169$609$306$149$80

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $2,180,000, adding $6,147 every year, while hoping to spend $55,976 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: 38/39/23 Blend
55$2,180,000$2,180,000$2,180,000$2,180,000
56$2,408,701$2,293,161$2,259,371$2,483,470
57$2,594,830$2,345,967$2,275,502$2,591,173
58$2,798,069$2,399,486$2,290,297$2,701,816
59$3,020,102$2,453,691$2,303,652$2,820,273
60$3,262,787$2,508,557$2,315,459$2,947,283
61$3,528,167$2,564,052$2,325,603$3,083,663
62$3,818,492$2,620,142$2,333,962$3,230,313
63$4,136,239$2,676,790$2,340,411$3,388,225
64$4,484,137$2,733,954$2,344,816$3,558,492
65$4,865,189$2,791,587$2,347,037$3,742,321
66$5,282,704$2,849,641$2,346,929$3,941,041
67$5,740,325$2,908,059$2,344,337$4,156,121
68$6,242,066$2,966,781$2,339,099$4,389,176
69$6,792,345$3,025,742$2,331,048$4,641,992
70$7,396,031$3,084,870$2,320,004$4,916,535
71$8,058,485$3,144,088$2,305,784$5,214,974
72$8,785,613$3,203,311$2,288,190$5,539,703
73$9,583,921$3,262,449$2,267,020$5,893,360
74$10,460,575$3,321,403$2,242,059$6,278,855
75$11,423,469$3,380,067$2,213,083$6,699,397
76$12,481,300$3,438,327$2,179,858$7,158,527
77$13,643,647$3,496,059$2,142,138$7,660,146
78$14,921,066$3,553,133$2,099,666$8,208,560
79$16,325,182$3,609,404$2,052,173$8,808,515
80$17,868,807$3,664,721$1,999,377$9,465,248
81$19,566,053$3,718,920$1,940,984$10,184,531
82$21,432,469$3,771,826$1,876,685$10,972,730
83$23,485,186$3,823,250$1,806,159$11,836,866
84$25,743,077$3,872,992$1,729,068$12,784,682
85$28,226,940$3,920,837$1,645,060$13,824,713
86$30,959,685$3,966,556$1,553,767$14,966,374
87$33,966,559$4,009,903$1,454,805$16,220,045
88$37,275,377$4,050,617$1,347,770$17,597,171
89$40,916,788$4,088,420$1,232,242$19,110,374
90$44,924,561$4,123,013$1,107,783$20,773,569
91$49,335,907$4,154,081$973,934$22,602,100
92$54,191,824$4,181,286$830,216$24,612,884
93$59,537,490$4,204,269$676,128$26,824,575
94$65,422,684$4,222,648$511,148$29,257,737
95$71,902,258$4,236,017$334,732$31,935,045
96$79,036,651$4,243,946$146,308$34,881,498
97$86,892,464$4,245,974$0$38,124,656
98$95,543,084$4,241,615$0$41,708,346
99$105,069,376$4,230,351$0$45,691,816
100$115,560,447$4,211,633$0$50,076,212