Can I retire at age 56 with 2,200,000?

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 $2,200,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.2%
1 years$181,674$180,056$178,477$176,936$175,431$168,938
2 years$89,938$88,263$86,639$85,065$83,539$77,070
3 years$59,363$57,681$56,061$54,502$53,000$46,760
4 years$44,078$42,401$40,798$39,266$37,800$31,836
5 years$34,910$33,243$31,661$30,160$28,735$23,062
6 years$28,800$27,146$25,587$24,119$22,737$17,359
7 years$24,437$22,797$21,263$19,830$18,491$13,407
8 years$21,167$19,541$18,033$16,635$15,340$10,546
9 years$18,624$17,014$15,531$14,169$12,919$8,407
10 years$16,592$14,997$13,541$12,214$11,007$6,770
11 years$14,930$13,351$11,921$10,630$9,467$5,495
12 years$13,546$11,983$10,580$9,324$8,204$4,487
13 years$12,375$10,829$9,452$8,231$7,154$3,682
14 years$11,373$9,843$8,493$7,307$6,271$3,034
15 years$10,505$8,992$7,668$6,516$5,521$2,507
16 years$9,747$8,250$6,952$5,835$4,880$2,078
17 years$9,078$7,598$6,326$5,243$4,327$1,725
18 years$8,485$7,021$5,775$4,725$3,847$1,435
19 years$7,954$6,507$5,287$4,269$3,429$1,195
20 years$7,477$6,047$4,852$3,866$3,063$997
21 years$7,046$5,632$4,463$3,509$2,741$832
22 years$6,655$5,257$4,113$3,191$2,457$695
23 years$6,298$4,917$3,798$2,906$2,205$581
24 years$5,972$4,607$3,512$2,650$1,982$486
25 years$5,672$4,323$3,253$2,420$1,784$407
26 years$5,396$4,063$3,017$2,213$1,607$341
27 years$5,140$3,824$2,802$2,026$1,449$285
28 years$4,903$3,603$2,604$1,856$1,307$239
29 years$4,683$3,399$2,424$1,702$1,180$200
30 years$4,478$3,210$2,258$1,562$1,066$168
31 years$4,287$3,035$2,105$1,434$964$141
32 years$4,108$2,872$1,964$1,318$872$118
33 years$3,940$2,719$1,833$1,212$789$99
34 years$3,782$2,577$1,713$1,115$715$83
35 years$3,634$2,445$1,602$1,027$647$70
36 years$3,494$2,320$1,498$946$586$58
37 years$3,362$2,204$1,402$871$532$49
38 years$3,238$2,094$1,313$803$482$41
39 years$3,120$1,992$1,230$740$437$34
40 years$3,008$1,895$1,153$683$396$29
41 years$2,902$1,804$1,081$630$360$24
42 years$2,801$1,718$1,014$582$326$20
43 years$2,705$1,637$952$537$296$17
44 years$2,614$1,560$893$496$269$14
45 years$2,527$1,488$839$458$244$12
46 years$2,444$1,419$788$423$222$10
47 years$2,365$1,354$740$391$201$8
48 years$2,289$1,293$696$361$183$7
49 years$2,217$1,235$654$334$166$6
50 years$2,148$1,179$615$308$151$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $2,200,000, adding $5,582 every year, while hoping to spend $27,177 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: 41/45/14 Blend
55$2,200,000$2,200,000$2,200,000$2,200,000
56$2,430,158$2,313,558$2,279,458$2,519,529
57$2,649,118$2,398,006$2,326,904$2,667,565
58$2,889,501$2,485,681$2,375,028$2,824,588
59$3,153,463$2,576,713$2,423,825$2,993,948
60$3,443,381$2,671,237$2,473,287$3,176,781
61$3,761,871$2,769,392$2,523,407$3,374,336
62$4,111,815$2,871,325$2,574,175$3,587,982
63$4,496,390$2,977,190$2,625,579$3,819,225
64$4,919,094$3,087,145$2,677,609$4,069,718
65$5,383,783$3,201,356$2,730,250$4,341,282
66$5,894,702$3,319,996$2,783,487$4,635,912
67$6,456,531$3,443,246$2,837,303$4,955,807
68$7,074,425$3,571,292$2,891,680$5,303,381
69$7,754,063$3,704,332$2,946,598$5,681,290
70$8,501,702$3,842,569$3,002,033$6,092,455
71$9,324,237$3,986,216$3,057,963$6,540,087
72$10,229,265$4,135,496$3,114,360$7,027,721
73$11,225,155$4,290,641$3,171,196$7,559,243
74$12,321,129$4,451,891$3,228,440$8,138,930
75$13,527,350$4,619,499$3,286,059$8,771,486
76$14,855,014$4,793,729$3,344,016$9,462,091
77$16,316,457$4,974,853$3,402,272$10,216,442
78$17,925,274$5,163,159$3,460,787$11,040,810
79$19,696,443$5,358,945$3,519,514$11,942,098
80$21,646,469$5,562,523$3,578,407$12,927,902
81$23,793,539$5,774,216$3,637,414$14,006,586
82$26,157,693$5,994,366$3,696,480$15,187,358
83$28,761,013$6,223,325$3,755,547$16,480,352
84$31,627,831$6,461,463$3,814,553$17,896,728
85$34,784,961$6,709,165$3,873,431$19,448,773
86$38,261,947$6,966,834$3,932,111$21,150,017
87$42,091,346$7,234,890$3,990,517$23,015,356
88$46,309,035$7,513,771$4,048,571$25,061,196
89$50,954,545$7,803,935$4,106,187$27,305,603
90$56,071,441$8,105,859$4,163,276$29,768,471
91$61,707,725$8,420,043$4,219,743$32,471,711
92$67,916,295$8,747,008$4,275,487$35,439,456
93$74,755,442$9,087,297$4,330,401$38,698,283
94$82,289,401$9,441,478$4,384,373$42,277,467
95$90,588,954$9,810,144$4,437,284$46,209,253
96$99,732,101$10,193,915$4,489,007$50,529,155
97$109,804,797$10,593,438$4,539,409$55,276,297
98$120,901,757$11,009,388$4,588,351$60,493,773
99$133,127,360$11,442,471$4,635,684$66,229,052
100$146,596,622$11,893,424$4,681,251$72,534,430