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%15.4%
1 years$180,848$179,237$177,666$176,132$174,634$170,759
2 years$89,529$87,861$86,245$84,679$83,159$79,275
3 years$59,093$57,418$55,807$54,254$52,759$48,988
4 years$43,878$42,209$40,613$39,087$37,628$33,999
5 years$34,751$33,092$31,517$30,023$28,605$25,126
6 years$28,669$27,022$25,471$24,009$22,634$19,311
7 years$24,326$22,693$21,166$19,739$18,407$15,240
8 years$21,071$19,452$17,951$16,559$15,271$12,259
9 years$18,540$16,937$15,461$14,105$12,860$10,001
10 years$16,516$14,929$13,479$12,158$10,957$8,247
11 years$14,862$13,290$11,867$10,581$9,424$6,860
12 years$13,484$11,929$10,531$9,281$8,166$5,744
13 years$12,319$10,780$9,409$8,194$7,121$4,837
14 years$11,321$9,799$8,454$7,274$6,242$4,091
15 years$10,458$8,951$7,633$6,487$5,496$3,473
16 years$9,703$8,213$6,920$5,808$4,858$2,957
17 years$9,037$7,564$6,297$5,219$4,307$2,525
18 years$8,446$6,989$5,749$4,703$3,830$2,160
19 years$7,918$6,477$5,263$4,250$3,414$1,852
20 years$7,443$6,019$4,830$3,849$3,049$1,590
21 years$7,014$5,607$4,442$3,493$2,729$1,366
22 years$6,625$5,234$4,094$3,176$2,446$1,176
23 years$6,270$4,895$3,780$2,892$2,195$1,013
24 years$5,945$4,586$3,496$2,638$1,973$873
25 years$5,646$4,304$3,238$2,409$1,776$753
26 years$5,371$4,045$3,003$2,203$1,599$650
27 years$5,117$3,807$2,789$2,016$1,442$562
28 years$4,881$3,587$2,593$1,847$1,301$485
29 years$4,662$3,384$2,413$1,694$1,175$420
30 years$4,458$3,196$2,247$1,555$1,062$363
31 years$4,267$3,021$2,095$1,428$960$314
32 years$4,089$2,859$1,955$1,312$868$272
33 years$3,922$2,707$1,825$1,207$786$235
34 years$3,765$2,566$1,705$1,110$711$203
35 years$3,617$2,434$1,594$1,022$644$176
36 years$3,478$2,310$1,491$941$584$152
37 years$3,347$2,194$1,396$867$529$132
38 years$3,223$2,085$1,307$799$480$114
39 years$3,105$1,983$1,225$737$435$99
40 years$2,994$1,886$1,148$680$395$86
41 years$2,888$1,795$1,076$627$358$74
42 years$2,788$1,710$1,010$579$325$64
43 years$2,693$1,629$948$534$295$56
44 years$2,602$1,553$889$493$268$48
45 years$2,516$1,481$835$456$243$42
46 years$2,433$1,413$784$421$221$36
47 years$2,354$1,348$737$389$200$31
48 years$2,279$1,287$692$359$182$27
49 years$2,207$1,229$651$332$165$24
50 years$2,138$1,174$612$307$150$20

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 $6,345 every year, while hoping to spend $23,975 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: 67/11/22 Blend
55$2,190,000$2,190,000$2,190,000$2,190,000
56$2,419,925$2,303,855$2,269,910$2,568,148
57$2,641,248$2,391,235$2,320,443$2,755,731
58$2,884,343$2,482,092$2,371,865$2,957,459
59$3,151,404$2,576,573$2,424,181$3,177,505
60$3,444,850$2,674,829$2,477,394$3,417,675
61$3,767,347$2,777,017$2,531,508$3,679,954
62$4,121,828$2,883,303$2,586,526$3,966,529
63$4,511,528$2,993,858$2,642,448$4,279,808
64$4,940,010$3,108,863$2,699,276$4,622,443
65$5,411,198$3,228,504$2,757,009$4,997,353
66$5,929,417$3,352,978$2,815,646$5,407,755
67$6,499,433$3,482,490$2,875,185$5,857,188
68$7,126,495$3,617,251$2,935,623$6,349,553
69$7,816,387$3,757,486$2,996,956$6,889,147
70$8,575,482$3,903,426$3,059,177$7,480,699
71$9,410,801$4,055,314$3,122,281$8,129,420
72$10,330,084$4,213,405$3,186,257$8,841,052
73$11,341,853$4,377,963$3,251,098$9,621,917
74$12,455,503$4,549,264$3,316,791$10,478,980
75$13,681,384$4,727,598$3,383,323$11,419,912
76$15,030,901$4,913,266$3,450,680$12,453,167
77$16,516,619$5,106,582$3,518,844$13,588,056
78$18,152,387$5,307,878$3,587,798$14,834,835
79$19,953,462$5,517,495$3,657,521$16,204,807
80$21,936,657$5,735,794$3,727,990$17,710,420
81$24,120,498$5,963,150$3,799,179$19,365,391
82$26,525,400$6,199,955$3,871,062$21,184,832
83$29,173,856$6,446,618$3,943,609$23,185,392
84$32,090,655$6,703,569$4,016,786$25,385,415
85$35,303,112$6,971,253$4,090,557$27,805,112
86$38,841,324$7,250,139$4,164,886$30,466,752
87$42,738,458$7,540,715$4,239,729$33,394,869
88$47,031,063$7,843,492$4,315,042$36,616,497
89$51,759,411$8,159,004$4,390,776$40,161,423
90$56,967,884$8,487,807$4,466,879$44,062,467
91$62,705,384$8,830,486$4,543,296$48,355,791
92$69,025,804$9,187,650$4,619,967$53,081,242
93$75,988,526$9,559,936$4,696,826$58,282,725
94$83,658,992$9,948,009$4,773,806$64,008,619
95$92,109,315$10,352,567$4,850,834$70,312,231
96$101,418,959$10,774,336$4,927,831$77,252,300
97$111,675,493$11,214,079$5,004,713$84,893,551
98$122,975,415$11,672,591$5,081,394$93,307,303
99$135,425,064$12,150,705$5,157,777$102,572,146
100$149,141,621$12,649,289$5,233,762$112,774,677