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%16.2%
1 years$180,022$178,419$176,854$175,327$173,836$169,428
2 years$89,120$87,460$85,852$84,292$82,779$78,366
3 years$58,823$57,156$55,552$54,007$52,519$48,239
4 years$43,678$42,016$40,427$38,909$37,457$33,344
5 years$34,593$32,941$31,373$29,886$28,474$24,539
6 years$28,538$26,899$25,354$23,900$22,530$18,778
7 years$24,215$22,590$21,070$19,649$18,323$14,753
8 years$20,974$19,363$17,869$16,483$15,201$11,811
9 years$18,455$16,859$15,390$14,040$12,801$9,589
10 years$16,441$14,861$13,418$12,103$10,907$7,869
11 years$14,794$13,230$11,813$10,533$9,381$6,512
12 years$13,422$11,874$10,483$9,239$8,129$5,424
13 years$12,263$10,731$9,366$8,157$7,089$4,543
14 years$11,270$9,754$8,416$7,240$6,214$3,821
15 years$10,410$8,910$7,598$6,457$5,471$3,226
16 years$9,658$8,175$6,889$5,782$4,836$2,732
17 years$8,996$7,529$6,269$5,195$4,288$2,319
18 years$8,407$6,957$5,722$4,682$3,812$1,972
19 years$7,882$6,448$5,239$4,230$3,398$1,680
20 years$7,409$5,992$4,808$3,831$3,035$1,434
21 years$6,982$5,581$4,422$3,477$2,716$1,225
22 years$6,594$5,210$4,076$3,162$2,435$1,048
23 years$6,241$4,872$3,763$2,879$2,185$897
24 years$5,918$4,565$3,480$2,626$1,964$768
25 years$5,620$4,284$3,223$2,398$1,768$659
26 years$5,347$4,026$2,990$2,193$1,592$565
27 years$5,093$3,789$2,776$2,007$1,435$485
28 years$4,859$3,571$2,581$1,839$1,295$416
29 years$4,641$3,369$2,402$1,686$1,170$357
30 years$4,438$3,181$2,237$1,548$1,057$307
31 years$4,248$3,007$2,086$1,421$955$264
32 years$4,070$2,846$1,946$1,306$864$227
33 years$3,904$2,695$1,817$1,201$782$195
34 years$3,748$2,554$1,698$1,105$708$168
35 years$3,601$2,422$1,587$1,017$641$144
36 years$3,462$2,299$1,485$937$581$124
37 years$3,332$2,184$1,390$863$527$107
38 years$3,208$2,075$1,301$796$478$92
39 years$3,091$1,973$1,219$734$433$79
40 years$2,980$1,878$1,143$677$393$68
41 years$2,875$1,787$1,072$624$356$58
42 years$2,775$1,702$1,005$576$323$50
43 years$2,681$1,622$943$532$293$43
44 years$2,590$1,546$885$491$266$37
45 years$2,504$1,474$831$454$242$32
46 years$2,422$1,406$781$419$220$28
47 years$2,344$1,342$734$387$199$24
48 years$2,269$1,281$689$358$181$20
49 years$2,197$1,223$648$331$164$18
50 years$2,128$1,169$609$306$149$15

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 $4,516 every year, while hoping to spend $42,724 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: 66/17/17 Blend
55$2,180,000$2,180,000$2,180,000$2,180,000
56$2,407,018$2,291,478$2,257,688$2,555,597
57$2,607,076$2,358,303$2,287,863$2,722,399
58$2,826,108$2,426,970$2,317,616$2,899,294
59$3,066,004$2,497,524$2,346,889$3,091,621
60$3,328,846$2,570,012$2,375,620$3,300,889
61$3,616,926$2,644,481$2,403,741$3,528,764
62$3,932,769$2,720,977$2,431,183$3,777,078
63$4,279,157$2,799,550$2,457,872$4,047,850
64$4,659,151$2,880,248$2,483,731$4,343,301
65$5,076,125$2,963,121$2,508,677$4,665,881
66$5,533,795$3,048,219$2,532,623$5,018,286
67$6,036,255$3,135,595$2,555,479$5,403,487
68$6,588,013$3,225,299$2,577,148$5,824,754
69$7,194,036$3,317,385$2,597,528$6,285,693
70$7,859,797$3,411,905$2,616,514$6,790,275
71$8,591,321$3,508,914$2,633,992$7,342,872
72$9,395,251$3,608,466$2,649,846$7,948,304
73$10,278,901$3,710,615$2,663,951$8,611,881
74$11,250,332$3,815,418$2,676,176$9,339,451
75$12,318,423$3,922,930$2,686,385$10,137,458
76$13,492,956$4,033,208$2,694,433$11,013,003
77$14,784,711$4,146,309$2,700,169$11,973,909
78$16,205,562$4,262,288$2,703,436$13,028,796
79$17,768,594$4,381,205$2,704,065$14,187,160
80$19,488,221$4,503,115$2,701,882$15,459,467
81$21,380,328$4,628,076$2,696,704$16,857,247
82$23,462,416$4,756,146$2,688,338$18,393,205
83$25,753,768$4,887,383$2,676,583$20,081,342
84$28,275,631$5,021,843$2,661,226$21,937,084
85$31,051,415$5,159,583$2,642,047$23,977,430
86$34,106,917$5,300,660$2,618,813$26,221,112
87$37,470,560$5,445,130$2,591,281$28,688,769
88$41,173,664$5,593,048$2,559,196$31,403,147
89$45,250,740$5,744,470$2,522,291$34,389,309
90$49,739,814$5,899,447$2,480,287$37,674,874
91$54,682,789$6,058,034$2,432,890$41,290,276
92$60,125,837$6,220,281$2,379,795$45,269,053
93$66,119,836$6,386,239$2,320,682$49,648,163
94$72,720,850$6,555,955$2,255,216$54,468,332
95$79,990,656$6,729,476$2,183,045$59,774,438
96$87,997,329$6,906,847$2,103,803$65,615,938
97$96,815,883$7,088,109$2,017,107$72,047,331
98$106,528,978$7,273,301$1,922,555$79,128,676
99$117,227,703$7,462,462$1,819,729$86,926,154
100$129,012,429$7,655,623$1,708,191$95,512,700