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%12.5%
1 years$180,022$178,419$176,854$175,327$173,836$172,021
2 years$89,120$87,460$85,852$84,292$82,779$80,951
3 years$58,823$57,156$55,552$54,007$52,519$50,734
4 years$43,678$42,016$40,427$38,909$37,457$35,730
5 years$34,593$32,941$31,373$29,886$28,474$26,810
6 years$28,538$26,899$25,354$23,900$22,530$20,931
7 years$24,215$22,590$21,070$19,649$18,323$16,790
8 years$20,974$19,363$17,869$16,483$15,201$13,733
9 years$18,455$16,859$15,390$14,040$12,801$11,398
10 years$16,441$14,861$13,418$12,103$10,907$9,568
11 years$14,794$13,230$11,813$10,533$9,381$8,104
12 years$13,422$11,874$10,483$9,239$8,129$6,914
13 years$12,263$10,731$9,366$8,157$7,089$5,934
14 years$11,270$9,754$8,416$7,240$6,214$5,118
15 years$10,410$8,910$7,598$6,457$5,471$4,432
16 years$9,658$8,175$6,889$5,782$4,836$3,851
17 years$8,996$7,529$6,269$5,195$4,288$3,357
18 years$8,407$6,957$5,722$4,682$3,812$2,933
19 years$7,882$6,448$5,239$4,230$3,398$2,568
20 years$7,409$5,992$4,808$3,831$3,035$2,253
21 years$6,982$5,581$4,422$3,477$2,716$1,979
22 years$6,594$5,210$4,076$3,162$2,435$1,742
23 years$6,241$4,872$3,763$2,879$2,185$1,534
24 years$5,918$4,565$3,480$2,626$1,964$1,353
25 years$5,620$4,284$3,223$2,398$1,768$1,194
26 years$5,347$4,026$2,990$2,193$1,592$1,055
27 years$5,093$3,789$2,776$2,007$1,435$933
28 years$4,859$3,571$2,581$1,839$1,295$825
29 years$4,641$3,369$2,402$1,686$1,170$730
30 years$4,438$3,181$2,237$1,548$1,057$647
31 years$4,248$3,007$2,086$1,421$955$573
32 years$4,070$2,846$1,946$1,306$864$508
33 years$3,904$2,695$1,817$1,201$782$450
34 years$3,748$2,554$1,698$1,105$708$399
35 years$3,601$2,422$1,587$1,017$641$354
36 years$3,462$2,299$1,485$937$581$314
37 years$3,332$2,184$1,390$863$527$279
38 years$3,208$2,075$1,301$796$478$248
39 years$3,091$1,973$1,219$734$433$220
40 years$2,980$1,878$1,143$677$393$195
41 years$2,875$1,787$1,072$624$356$173
42 years$2,775$1,702$1,005$576$323$154
43 years$2,681$1,622$943$532$293$137
44 years$2,590$1,546$885$491$266$121
45 years$2,504$1,474$831$454$242$108
46 years$2,422$1,406$781$419$220$96
47 years$2,344$1,342$734$387$199$85
48 years$2,269$1,281$689$358$181$76
49 years$2,197$1,223$648$331$164$67
50 years$2,128$1,169$609$306$149$60

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 $6,525 every year, while hoping to spend $51,054 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: 45/50/5 Blend
55$2,180,000$2,180,000$2,180,000$2,180,000
56$2,409,091$2,293,551$2,259,761$2,513,923
57$2,600,497$2,351,613$2,281,141$2,644,801
58$2,809,715$2,410,810$2,301,528$2,780,778
59$3,038,509$2,471,143$2,320,832$2,927,006
60$3,288,819$2,532,611$2,338,962$3,084,443
61$3,562,783$2,595,213$2,355,821$3,254,143
62$3,862,754$2,658,946$2,371,308$3,437,266
63$4,191,324$2,723,803$2,385,316$3,635,089
64$4,551,347$2,789,777$2,397,732$3,849,018
65$4,945,966$2,856,858$2,408,438$4,080,600
66$5,378,643$2,925,033$2,417,309$4,331,540
67$5,853,192$2,994,287$2,424,216$4,603,712
68$6,373,811$3,064,601$2,429,021$4,899,183
69$6,945,127$3,135,953$2,431,580$5,220,228
70$7,572,234$3,208,319$2,431,742$5,569,354
71$8,260,745$3,281,670$2,429,349$5,949,320
72$9,016,843$3,355,973$2,424,234$6,363,167
73$9,847,338$3,431,193$2,416,223$6,814,245
74$10,759,733$3,507,288$2,405,133$7,306,243
75$11,762,293$3,584,213$2,390,773$7,843,226
76$12,864,125$3,661,917$2,372,941$8,429,674
77$14,075,258$3,740,343$2,351,427$9,070,521
78$15,406,745$3,819,431$2,326,011$9,771,203
79$16,870,762$3,899,112$2,296,461$10,537,711
80$18,480,723$3,979,312$2,262,536$11,376,647
81$20,251,409$4,059,950$2,223,983$12,295,284
82$22,199,102$4,140,938$2,180,536$13,301,637
83$24,341,745$4,222,178$2,131,918$14,404,540
84$26,699,105$4,303,566$2,077,839$15,613,724
85$29,292,962$4,384,990$2,017,995$16,939,917
86$32,147,315$4,466,325$1,952,069$18,394,938
87$35,288,606$4,547,440$1,879,728$19,991,814
88$38,745,970$4,628,190$1,800,625$21,744,900
89$42,551,510$4,708,422$1,714,397$23,670,015
90$46,740,598$4,787,969$1,620,664$25,784,596
91$51,352,212$4,866,653$1,519,028$28,107,855
92$56,429,298$4,944,280$1,409,077$30,660,970
93$62,019,181$5,020,644$1,290,376$33,467,278
94$68,174,006$5,095,524$1,162,472$36,552,497
95$74,951,233$5,168,683$1,024,892$39,944,975
96$82,414,176$5,239,866$877,144$43,675,949
97$90,632,604$5,308,801$718,710$47,779,851
98$99,683,395$5,375,198$549,052$52,294,623
99$109,651,264$5,438,745$367,608$57,262,083
100$120,629,561$5,499,112$173,791$62,728,321