Can I retire at age 56 with 2,210,000?

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 $2,210,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14%
1 years$182,500$180,874$179,288$177,740$176,229$173,309
2 years$90,346$88,664$87,033$85,452$83,918$80,986
3 years$59,633$57,943$56,316$54,750$53,241$50,386
4 years$44,279$42,594$40,984$39,444$37,972$35,217
5 years$35,069$33,394$31,805$30,297$28,866$26,219
6 years$28,931$27,269$25,703$24,229$22,841$20,304
7 years$24,548$22,900$21,359$19,920$18,575$16,151
8 years$21,263$19,630$18,115$16,710$15,410$13,097
9 years$18,709$17,091$15,602$14,233$12,978$10,774
10 years$16,667$15,065$13,602$12,269$11,058$8,962
11 years$14,997$13,412$11,975$10,678$9,510$7,521
12 years$13,607$12,038$10,628$9,366$8,241$6,355
13 years$12,432$10,878$9,495$8,269$7,186$5,401
14 years$11,425$9,888$8,531$7,340$6,300$4,612
15 years$10,553$9,033$7,703$6,546$5,547$3,953
16 years$9,791$8,288$6,984$5,861$4,902$3,400
17 years$9,119$7,633$6,355$5,266$4,347$2,932
18 years$8,523$7,053$5,801$4,746$3,865$2,534
19 years$7,990$6,537$5,311$4,288$3,445$2,195
20 years$7,511$6,074$4,874$3,884$3,077$1,904
21 years$7,078$5,658$4,483$3,525$2,753$1,654
22 years$6,685$5,281$4,132$3,205$2,468$1,439
23 years$6,327$4,940$3,815$2,919$2,216$1,253
24 years$5,999$4,628$3,528$2,662$1,991$1,092
25 years$5,698$4,343$3,268$2,431$1,792$953
26 years$5,420$4,082$3,031$2,223$1,614$832
27 years$5,163$3,842$2,814$2,035$1,455$727
28 years$4,926$3,620$2,616$1,864$1,313$635
29 years$4,705$3,415$2,435$1,710$1,186$555
30 years$4,499$3,225$2,268$1,569$1,071$486
31 years$4,306$3,049$2,114$1,441$969$425
32 years$4,126$2,885$1,973$1,324$876$372
33 years$3,958$2,732$1,842$1,218$793$326
34 years$3,799$2,589$1,721$1,120$718$285
35 years$3,650$2,456$1,609$1,031$650$250
36 years$3,510$2,331$1,505$950$589$219
37 years$3,377$2,214$1,409$875$534$192
38 years$3,252$2,104$1,319$807$484$168
39 years$3,134$2,001$1,236$744$439$147
40 years$3,021$1,903$1,158$686$398$129
41 years$2,915$1,812$1,086$633$361$113
42 years$2,814$1,726$1,019$584$328$99
43 years$2,717$1,644$956$539$297$87
44 years$2,626$1,567$898$498$270$76
45 years$2,539$1,494$843$460$245$67
46 years$2,455$1,426$792$425$223$59
47 years$2,376$1,361$744$392$202$51
48 years$2,300$1,299$699$363$184$45
49 years$2,227$1,240$657$335$167$40
50 years$2,158$1,185$618$310$151$35

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $2,210,000, adding $4,948 every year, while hoping to spend $39,666 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: 69/9/22 Blend
55$2,210,000$2,210,000$2,210,000$2,210,000
56$2,440,524$2,323,394$2,289,139$2,595,139
57$2,647,253$2,395,036$2,323,621$2,770,823
58$2,873,739$2,468,859$2,357,928$2,957,918
59$3,121,955$2,544,928$2,392,014$3,161,701
60$3,394,075$2,623,310$2,425,827$3,383,819
61$3,692,492$2,704,073$2,459,313$3,626,088
62$4,019,843$2,787,289$2,492,417$3,890,506
63$4,379,031$2,873,030$2,525,076$4,179,273
64$4,773,254$2,961,371$2,557,229$4,494,816
65$5,206,037$3,052,389$2,588,807$4,839,804
66$5,681,260$3,146,163$2,619,739$5,217,180
67$6,203,198$3,242,775$2,649,950$5,630,185
68$6,776,561$3,342,307$2,679,360$6,082,392
69$7,406,536$3,444,847$2,707,885$6,577,733
70$8,098,841$3,550,483$2,735,437$7,120,544
71$8,859,771$3,659,304$2,761,922$7,715,599
72$9,696,264$3,771,406$2,787,243$8,368,160
73$10,615,962$3,886,884$2,811,294$9,084,025
74$11,627,285$4,005,837$2,833,968$9,869,580
75$12,739,511$4,128,366$2,855,149$10,731,864
76$13,962,861$4,254,576$2,874,716$11,678,630
77$15,308,596$4,384,573$2,892,542$12,718,423
78$16,789,124$4,518,468$2,908,494$13,860,658
79$18,418,116$4,656,375$2,922,429$15,115,708
80$20,210,635$4,798,408$2,934,202$16,495,006
81$22,183,278$4,944,688$2,943,656$18,011,147
82$24,354,331$5,095,337$2,950,628$19,678,011
83$26,743,946$5,250,481$2,954,946$21,510,892
84$29,374,324$5,410,250$2,956,432$23,526,645
85$32,269,928$5,574,776$2,954,896$25,743,841
86$35,457,717$5,744,196$2,950,141$28,182,945
87$38,967,391$5,918,649$2,941,958$30,866,510
88$42,831,682$6,098,280$2,930,131$33,819,386
89$47,086,653$6,283,235$2,914,430$37,068,958
90$51,772,045$6,473,667$2,894,616$40,645,405
91$56,931,647$6,669,730$2,870,440$44,581,980
92$62,613,713$6,871,584$2,841,637$48,915,331
93$68,871,412$7,079,393$2,807,933$53,685,840
94$75,763,337$7,293,324$2,769,039$58,938,009
95$83,354,050$7,513,549$2,724,655$64,720,880
96$91,714,696$7,740,245$2,674,463$71,088,492
97$100,923,671$7,973,594$2,618,134$78,100,402
98$111,067,365$8,213,779$2,555,321$85,822,236
99$122,240,974$8,460,993$2,485,662$94,326,316
100$134,549,401$8,715,429$2,408,779$103,692,339