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%18.1%
1 years$180,848$179,237$177,666$176,132$174,634$168,908
2 years$89,529$87,861$86,245$84,679$83,159$77,445
3 years$59,093$57,418$55,807$54,254$52,759$47,237
4 years$43,878$42,209$40,613$39,087$37,628$32,339
5 years$34,751$33,092$31,517$30,023$28,605$23,563
6 years$28,669$27,022$25,471$24,009$22,634$17,844
7 years$24,326$22,693$21,166$19,739$18,407$13,869
8 years$21,071$19,452$17,951$16,559$15,271$10,980
9 years$18,540$16,937$15,461$14,105$12,860$8,812
10 years$16,516$14,929$13,479$12,158$10,957$7,146
11 years$14,862$13,290$11,867$10,581$9,424$5,841
12 years$13,484$11,929$10,531$9,281$8,166$4,805
13 years$12,319$10,780$9,409$8,194$7,121$3,973
14 years$11,321$9,799$8,454$7,274$6,242$3,299
15 years$10,458$8,951$7,633$6,487$5,496$2,748
16 years$9,703$8,213$6,920$5,808$4,858$2,295
17 years$9,037$7,564$6,297$5,219$4,307$1,921
18 years$8,446$6,989$5,749$4,703$3,830$1,611
19 years$7,918$6,477$5,263$4,250$3,414$1,353
20 years$7,443$6,019$4,830$3,849$3,049$1,138
21 years$7,014$5,607$4,442$3,493$2,729$958
22 years$6,625$5,234$4,094$3,176$2,446$808
23 years$6,270$4,895$3,780$2,892$2,195$681
24 years$5,945$4,586$3,496$2,638$1,973$575
25 years$5,646$4,304$3,238$2,409$1,776$485
26 years$5,371$4,045$3,003$2,203$1,599$410
27 years$5,117$3,807$2,789$2,016$1,442$346
28 years$4,881$3,587$2,593$1,847$1,301$293
29 years$4,662$3,384$2,413$1,694$1,175$248
30 years$4,458$3,196$2,247$1,555$1,062$209
31 years$4,267$3,021$2,095$1,428$960$177
32 years$4,089$2,859$1,955$1,312$868$150
33 years$3,922$2,707$1,825$1,207$786$127
34 years$3,765$2,566$1,705$1,110$711$107
35 years$3,617$2,434$1,594$1,022$644$91
36 years$3,478$2,310$1,491$941$584$77
37 years$3,347$2,194$1,396$867$529$65
38 years$3,223$2,085$1,307$799$480$55
39 years$3,105$1,983$1,225$737$435$47
40 years$2,994$1,886$1,148$680$395$39
41 years$2,888$1,795$1,076$627$358$33
42 years$2,788$1,710$1,010$579$325$28
43 years$2,693$1,629$948$534$295$24
44 years$2,602$1,553$889$493$268$20
45 years$2,516$1,481$835$456$243$17
46 years$2,433$1,413$784$421$221$15
47 years$2,354$1,348$737$389$200$12
48 years$2,279$1,287$692$359$182$10
49 years$2,207$1,229$651$332$165$9
50 years$2,138$1,174$612$307$150$7

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 $3,917 every year, while hoping to spend $49,707 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: 50/43/7 Blend
55$2,190,000$2,190,000$2,190,000$2,190,000
56$2,417,420$2,301,350$2,267,405$2,533,804
57$2,611,109$2,361,229$2,290,476$2,673,441
58$2,822,889$2,422,375$2,312,653$2,819,441
59$3,054,551$2,484,799$2,333,854$2,976,906
60$3,308,070$2,548,509$2,353,994$3,146,922
61$3,585,620$2,613,513$2,372,979$3,330,683
62$3,889,594$2,679,816$2,390,715$3,529,503
63$4,222,628$2,747,422$2,407,099$3,744,830
64$4,587,625$2,816,335$2,422,025$3,978,257
65$4,987,781$2,886,554$2,435,382$4,231,537
66$5,426,619$2,958,078$2,447,051$4,506,602
67$5,908,015$3,030,906$2,456,908$4,805,579
68$6,436,242$3,105,029$2,464,824$5,130,809
69$7,016,005$3,180,442$2,470,662$5,484,871
70$7,652,487$3,257,133$2,474,278$5,870,607
71$8,351,396$3,335,088$2,475,522$6,291,145
72$9,119,022$3,414,291$2,474,236$6,749,931
73$9,962,294$3,494,723$2,470,254$7,250,764
74$10,888,843$3,576,359$2,463,403$7,797,824
75$11,907,077$3,659,173$2,453,499$8,395,719
76$13,026,260$3,743,133$2,440,352$9,049,526
77$14,256,596$3,828,205$2,423,761$9,764,838
78$15,609,329$3,914,346$2,403,517$10,547,815
79$17,096,845$4,001,514$2,379,400$11,405,248
80$18,732,791$4,089,656$2,351,178$12,344,617
81$20,532,204$4,178,718$2,318,611$13,374,164
82$22,511,651$4,268,637$2,281,446$14,502,971
83$24,689,384$4,359,345$2,239,419$15,741,046
84$27,085,514$4,450,765$2,192,252$17,099,416
85$29,722,200$4,542,817$2,139,657$18,590,233
86$32,623,858$4,635,409$2,081,329$20,226,888
87$35,817,391$4,728,443$2,016,952$22,024,136
88$39,332,439$4,821,811$1,946,195$23,998,239
89$43,201,665$4,915,397$1,868,710$26,167,115
90$47,461,058$5,009,074$1,784,134$28,550,511
91$52,150,272$5,102,705$1,692,089$31,170,189
92$57,313,005$5,196,142$1,592,179$34,050,129
93$62,997,403$5,289,225$1,483,989$37,216,759
94$69,256,522$5,381,781$1,367,086$40,699,204
95$76,148,822$5,473,623$1,241,019$44,529,559
96$83,738,723$5,564,552$1,105,314$48,743,195
97$92,097,210$5,654,353$959,479$53,379,093
98$101,302,503$5,742,793$802,999$58,480,210
99$111,440,794$5,829,625$635,335$64,093,888
100$122,607,061$5,914,584$455,925$70,272,300