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

Use the below retirement simulation to view the chances of a successful retirement.
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%17.2%
1 years$180,848$179,237$177,666$176,132$174,634$169,519
2 years$89,529$87,861$86,245$84,679$83,159$78,047
3 years$59,093$57,418$55,807$54,254$52,759$47,811
4 years$43,878$42,209$40,613$39,087$37,628$32,882
5 years$34,751$33,092$31,517$30,023$28,605$24,072
6 years$28,669$27,022$25,471$24,009$22,634$18,320
7 years$24,326$22,693$21,166$19,739$18,407$14,311
8 years$21,071$19,452$17,951$16,559$15,271$11,391
9 years$18,540$16,937$15,461$14,105$12,860$9,192
10 years$16,516$14,929$13,479$12,158$10,957$7,496
11 years$14,862$13,290$11,867$10,581$9,424$6,163
12 years$13,484$11,929$10,531$9,281$8,166$5,101
13 years$12,319$10,780$9,409$8,194$7,121$4,243
14 years$11,321$9,799$8,454$7,274$6,242$3,545
15 years$10,458$8,951$7,633$6,487$5,496$2,972
16 years$9,703$8,213$6,920$5,808$4,858$2,498
17 years$9,037$7,564$6,297$5,219$4,307$2,105
18 years$8,446$6,989$5,749$4,703$3,830$1,777
19 years$7,918$6,477$5,263$4,250$3,414$1,503
20 years$7,443$6,019$4,830$3,849$3,049$1,273
21 years$7,014$5,607$4,442$3,493$2,729$1,079
22 years$6,625$5,234$4,094$3,176$2,446$916
23 years$6,270$4,895$3,780$2,892$2,195$778
24 years$5,945$4,586$3,496$2,638$1,973$661
25 years$5,646$4,304$3,238$2,409$1,776$562
26 years$5,371$4,045$3,003$2,203$1,599$478
27 years$5,117$3,807$2,789$2,016$1,442$407
28 years$4,881$3,587$2,593$1,847$1,301$347
29 years$4,662$3,384$2,413$1,694$1,175$295
30 years$4,458$3,196$2,247$1,555$1,062$252
31 years$4,267$3,021$2,095$1,428$960$214
32 years$4,089$2,859$1,955$1,312$868$183
33 years$3,922$2,707$1,825$1,207$786$156
34 years$3,765$2,566$1,705$1,110$711$133
35 years$3,617$2,434$1,594$1,022$644$113
36 years$3,478$2,310$1,491$941$584$97
37 years$3,347$2,194$1,396$867$529$82
38 years$3,223$2,085$1,307$799$480$70
39 years$3,105$1,983$1,225$737$435$60
40 years$2,994$1,886$1,148$680$395$51
41 years$2,888$1,795$1,076$627$358$44
42 years$2,788$1,710$1,010$579$325$37
43 years$2,693$1,629$948$534$295$32
44 years$2,602$1,553$889$493$268$27
45 years$2,516$1,481$835$456$243$23
46 years$2,433$1,413$784$421$221$20
47 years$2,354$1,348$737$389$200$17
48 years$2,279$1,287$692$359$182$14
49 years$2,207$1,229$651$332$165$12
50 years$2,138$1,174$612$307$150$10

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 $3,104 every year, while hoping to spend $40,735 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: 69/11/20 Blend
55$2,190,000$2,190,000$2,190,000$2,190,000
56$2,416,582$2,300,512$2,266,567$2,571,212
57$2,619,731$2,369,895$2,299,155$2,744,263
58$2,842,237$2,441,313$2,331,470$2,928,485
59$3,086,030$2,514,822$2,363,459$3,129,071
60$3,353,237$2,590,480$2,395,067$3,347,633
61$3,646,201$2,668,348$2,426,235$3,585,948
62$3,967,502$2,748,485$2,456,902$3,845,972
63$4,319,981$2,830,955$2,487,002$4,129,860
64$4,706,768$2,915,821$2,516,466$4,439,983
65$5,131,311$3,003,149$2,545,221$4,778,958
66$5,597,409$3,093,007$2,573,189$5,149,663
67$6,109,243$3,185,462$2,600,289$5,555,270
68$6,671,422$3,280,587$2,626,436$5,999,275
69$7,289,024$3,378,452$2,651,538$6,485,526
70$7,967,640$3,479,132$2,675,500$7,018,266
71$8,713,432$3,582,702$2,698,222$7,602,167
72$9,533,186$3,689,239$2,719,597$8,242,378
73$10,434,382$3,798,822$2,739,514$8,944,570
74$11,425,258$3,911,533$2,757,857$9,714,994
75$12,514,889$4,027,454$2,774,500$10,560,535
76$13,713,277$4,146,668$2,789,315$11,488,781
77$15,031,440$4,269,263$2,802,165$12,508,090
78$16,481,516$4,395,327$2,812,907$13,627,676
79$18,076,882$4,524,948$2,821,391$14,857,686
80$19,832,273$4,658,221$2,827,457$16,209,306
81$21,763,929$4,795,237$2,830,941$17,694,859
82$23,889,740$4,936,094$2,831,667$19,327,923
83$26,229,418$5,080,888$2,829,453$21,123,462
84$28,804,686$5,229,718$2,824,107$23,097,965
85$31,639,478$5,382,688$2,815,428$25,269,601
86$34,760,164$5,539,899$2,803,205$27,658,391
87$38,195,804$5,701,458$2,787,216$30,286,398
88$41,978,418$5,867,471$2,767,229$33,177,932
89$46,143,288$6,038,049$2,743,003$36,359,786
90$50,729,291$6,213,301$2,714,281$39,861,480
91$55,779,268$6,393,341$2,680,798$43,715,549
92$61,340,423$6,578,285$2,642,275$47,957,841
93$67,464,773$6,768,248$2,598,418$52,627,862
94$74,209,638$6,963,350$2,548,923$57,769,148
95$81,638,177$7,163,710$2,493,468$63,429,673
96$89,819,991$7,369,452$2,431,719$69,662,303
97$98,831,774$7,580,698$2,363,325$76,525,299
98$108,758,038$7,797,576$2,287,919$84,082,860
99$119,691,911$8,020,211$2,205,119$92,405,735
100$131,736,018$8,248,733$2,114,521$101,571,890