Can I retire at age 56 with 2,190,000?

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 $2,190,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.9%
1 years$180,848$179,237$177,666$176,132$174,634$169,044
2 years$89,529$87,861$86,245$84,679$83,159$77,578
3 years$59,093$57,418$55,807$54,254$52,759$47,364
4 years$43,878$42,209$40,613$39,087$37,628$32,459
5 years$34,751$33,092$31,517$30,023$28,605$23,675
6 years$28,669$27,022$25,471$24,009$22,634$17,949
7 years$24,326$22,693$21,166$19,739$18,407$13,966
8 years$21,071$19,452$17,951$16,559$15,271$11,070
9 years$18,540$16,937$15,461$14,105$12,860$8,895
10 years$16,516$14,929$13,479$12,158$10,957$7,222
11 years$14,862$13,290$11,867$10,581$9,424$5,912
12 years$13,484$11,929$10,531$9,281$8,166$4,870
13 years$12,319$10,780$9,409$8,194$7,121$4,032
14 years$11,321$9,799$8,454$7,274$6,242$3,352
15 years$10,458$8,951$7,633$6,487$5,496$2,796
16 years$9,703$8,213$6,920$5,808$4,858$2,339
17 years$9,037$7,564$6,297$5,219$4,307$1,961
18 years$8,446$6,989$5,749$4,703$3,830$1,647
19 years$7,918$6,477$5,263$4,250$3,414$1,385
20 years$7,443$6,019$4,830$3,849$3,049$1,167
21 years$7,014$5,607$4,442$3,493$2,729$984
22 years$6,625$5,234$4,094$3,176$2,446$830
23 years$6,270$4,895$3,780$2,892$2,195$701
24 years$5,945$4,586$3,496$2,638$1,973$593
25 years$5,646$4,304$3,238$2,409$1,776$501
26 years$5,371$4,045$3,003$2,203$1,599$424
27 years$5,117$3,807$2,789$2,016$1,442$359
28 years$4,881$3,587$2,593$1,847$1,301$304
29 years$4,662$3,384$2,413$1,694$1,175$257
30 years$4,458$3,196$2,247$1,555$1,062$218
31 years$4,267$3,021$2,095$1,428$960$185
32 years$4,089$2,859$1,955$1,312$868$157
33 years$3,922$2,707$1,825$1,207$786$133
34 years$3,765$2,566$1,705$1,110$711$112
35 years$3,617$2,434$1,594$1,022$644$95
36 years$3,478$2,310$1,491$941$584$81
37 years$3,347$2,194$1,396$867$529$69
38 years$3,223$2,085$1,307$799$480$58
39 years$3,105$1,983$1,225$737$435$49
40 years$2,994$1,886$1,148$680$395$42
41 years$2,888$1,795$1,076$627$358$35
42 years$2,788$1,710$1,010$579$325$30
43 years$2,693$1,629$948$534$295$25
44 years$2,602$1,553$889$493$268$22
45 years$2,516$1,481$835$456$243$18
46 years$2,433$1,413$784$421$221$16
47 years$2,354$1,348$737$389$200$13
48 years$2,279$1,287$692$359$182$11
49 years$2,207$1,229$651$332$165$9
50 years$2,138$1,174$612$307$150$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $2,190,000, adding $6,391 every year, while hoping to spend $50,718 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: 37/50/13 Blend
55$2,190,000$2,190,000$2,190,000$2,190,000
56$2,419,972$2,303,902$2,269,957$2,499,657
57$2,612,846$2,362,830$2,292,037$2,616,206
58$2,823,693$2,422,945$2,313,157$2,736,658
59$3,054,293$2,484,253$2,333,231$2,865,653
60$3,306,605$2,546,756$2,352,169$3,003,978
61$3,582,788$2,610,456$2,369,876$3,152,503
62$3,885,217$2,675,353$2,386,251$3,312,182
63$4,216,508$2,741,444$2,401,190$3,484,067
64$4,579,544$2,808,727$2,414,582$3,669,317
65$4,977,498$2,877,195$2,426,311$3,869,207
66$5,413,864$2,946,839$2,436,253$4,085,140
67$5,892,493$3,017,649$2,444,282$4,318,664
68$6,417,624$3,089,610$2,450,262$4,571,482
69$6,993,927$3,162,706$2,454,052$4,845,471
70$7,626,546$3,236,918$2,455,501$5,142,699
71$8,321,149$3,312,222$2,454,456$5,465,442
72$9,083,978$3,388,592$2,450,751$5,816,211
73$9,921,908$3,465,998$2,444,216$6,197,770
74$10,842,515$3,544,404$2,434,670$6,613,166
75$11,854,144$3,623,772$2,421,923$7,065,755
76$12,965,988$3,704,059$2,405,779$7,559,238
77$14,188,176$3,785,215$2,386,031$8,097,690
78$15,531,867$3,867,187$2,362,459$8,685,604
79$17,009,354$3,949,916$2,334,838$9,327,932
80$18,634,181$4,033,335$2,302,928$10,030,129
81$20,421,272$4,117,372$2,266,480$10,798,209
82$22,387,067$4,201,950$2,225,234$11,638,800
83$24,549,683$4,286,980$2,178,914$12,559,206
84$26,929,078$4,372,370$2,127,235$13,567,478
85$29,547,245$4,458,017$2,069,898$14,672,489
86$32,428,414$4,543,809$2,006,589$15,884,018
87$35,599,283$4,629,627$1,936,981$17,212,846
88$39,089,271$4,715,340$1,860,731$18,670,853
89$42,930,792$4,800,806$1,777,481$20,271,133
90$47,159,562$4,885,875$1,686,856$22,028,119
91$51,814,936$4,970,382$1,588,464$23,957,721
92$56,940,279$5,054,150$1,481,898$26,077,472
93$62,583,374$5,136,990$1,366,728$28,406,699
94$68,796,873$5,218,697$1,242,508$30,966,702
95$75,638,794$5,299,053$1,108,771$33,780,962
96$83,173,066$5,377,823$965,031$36,875,357
97$91,470,137$5,454,754$810,777$40,278,410
98$100,607,632$5,529,577$645,479$44,021,559
99$110,671,088$5,602,005$468,581$48,139,458
100$121,754,764$5,671,728$279,503$52,670,298