Can I retire at age 56 with 2,220,000?

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 $2,220,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.1%
1 years$183,326$181,693$180,099$178,544$177,026$174,741
2 years$90,755$89,065$87,427$85,839$84,298$82,000
3 years$59,902$58,205$56,571$54,998$53,482$51,241
4 years$44,479$42,787$41,169$39,623$38,144$35,978
5 years$35,228$33,545$31,949$30,434$28,996$26,912
6 years$29,062$27,392$25,820$24,338$22,944$20,943
7 years$24,659$23,004$21,456$20,010$18,660$16,743
8 years$21,359$19,719$18,197$16,786$15,480$13,647
9 years$18,794$17,169$15,673$14,298$13,036$11,287
10 years$16,742$15,133$13,664$12,325$11,108$9,441
11 years$15,065$13,472$12,029$10,726$9,553$7,967
12 years$13,669$12,092$10,676$9,408$8,278$6,771
13 years$12,488$10,928$9,538$8,306$7,219$5,788
14 years$11,477$9,933$8,570$7,373$6,328$4,972
15 years$10,601$9,074$7,738$6,576$5,572$4,288
16 years$9,835$8,325$7,015$5,888$4,924$3,711
17 years$9,161$7,667$6,384$5,290$4,366$3,221
18 years$8,562$7,085$5,827$4,768$3,882$2,802
19 years$8,026$6,566$5,335$4,308$3,460$2,443
20 years$7,545$6,102$4,896$3,902$3,091$2,134
21 years$7,110$5,683$4,503$3,541$2,766$1,866
22 years$6,715$5,305$4,150$3,220$2,479$1,635
23 years$6,356$4,962$3,832$2,932$2,226$1,434
24 years$6,026$4,649$3,544$2,674$2,000$1,258
25 years$5,724$4,363$3,283$2,442$1,800$1,106
26 years$5,445$4,100$3,044$2,233$1,621$972
27 years$5,187$3,859$2,827$2,044$1,462$855
28 years$4,948$3,636$2,628$1,873$1,319$753
29 years$4,726$3,430$2,446$1,717$1,191$663
30 years$4,519$3,240$2,278$1,576$1,076$584
31 years$4,326$3,062$2,124$1,448$973$515
32 years$4,145$2,898$1,982$1,330$880$454
33 years$3,976$2,744$1,850$1,223$797$401
34 years$3,817$2,601$1,729$1,126$721$354
35 years$3,667$2,467$1,616$1,036$653$312
36 years$3,526$2,341$1,512$954$592$276
37 years$3,393$2,224$1,415$879$536$243
38 years$3,267$2,113$1,325$810$486$215
39 years$3,148$2,010$1,242$747$441$190
40 years$3,035$1,912$1,164$689$400$168
41 years$2,928$1,820$1,091$636$363$148
42 years$2,826$1,733$1,024$587$329$131
43 years$2,730$1,652$960$542$299$116
44 years$2,638$1,574$902$500$271$102
45 years$2,550$1,501$847$462$246$90
46 years$2,466$1,432$795$427$224$80
47 years$2,387$1,367$747$394$203$71
48 years$2,310$1,305$702$364$184$62
49 years$2,237$1,246$660$337$167$55
50 years$2,167$1,190$620$311$152$49

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $2,220,000, adding $4,444 every year, while hoping to spend $58,706 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: 38/35/27 Blend
55$2,220,000$2,220,000$2,220,000$2,220,000
56$2,451,024$2,333,364$2,298,954$2,524,299
57$2,638,566$2,385,236$2,313,506$2,630,295
58$2,843,269$2,437,682$2,326,578$2,739,048
59$3,066,823$2,490,669$2,338,059$2,855,452
60$3,311,085$2,544,158$2,347,831$2,980,241
61$3,578,103$2,598,109$2,355,770$3,114,221
62$3,870,129$2,652,476$2,361,748$3,258,284
63$4,189,645$2,707,210$2,365,629$3,413,412
64$4,539,381$2,762,255$2,367,270$3,580,689
65$4,922,345$2,817,553$2,366,521$3,761,312
66$5,341,850$2,873,039$2,363,225$3,956,599
67$5,801,544$2,928,643$2,357,218$4,168,008
68$6,305,443$2,984,288$2,348,326$4,397,144
69$6,857,972$3,039,893$2,336,369$4,645,780
70$7,464,005$3,095,367$2,321,157$4,915,870
71$8,128,908$3,150,615$2,302,491$5,209,572
72$8,858,595$3,205,533$2,280,162$5,529,265
73$9,659,576$3,260,008$2,253,952$5,877,574
74$10,539,025$3,313,921$2,223,632$6,257,396
75$11,504,845$3,367,142$2,188,963$6,671,925
76$12,565,739$3,419,533$2,149,693$7,124,685
77$13,731,298$3,470,944$2,105,562$7,619,566
78$15,012,086$3,521,215$2,056,293$8,160,855
79$16,419,740$3,570,176$2,001,600$8,753,284
80$17,967,082$3,617,643$1,941,182$9,402,070
81$19,668,237$3,663,420$1,874,725$10,112,969
82$21,538,768$3,707,299$1,801,899$10,892,330
83$23,595,822$3,749,056$1,722,362$11,747,156
84$25,858,288$3,788,451$1,635,753$12,685,169
85$28,346,979$3,825,232$1,541,697$13,714,887
86$31,084,829$3,859,126$1,439,801$14,845,704
87$34,097,102$3,889,844$1,329,656$16,087,980
88$37,411,638$3,917,078$1,210,831$17,453,141
89$41,059,111$3,940,501$1,082,880$18,953,786
90$45,073,318$3,959,763$945,334$20,603,811
91$49,491,499$3,974,493$797,705$22,418,537
92$54,354,686$3,984,298$639,482$24,414,861
93$59,708,093$3,988,757$470,134$26,611,413
94$65,601,538$3,987,426$289,102$29,028,738
95$72,089,915$3,979,830$95,808$31,689,487
96$79,233,713$3,965,469$0$34,618,637
97$87,099,584$3,943,808$0$37,875,554
98$95,760,970$3,914,283$0$41,490,300
99$105,298,800$3,876,294$0$45,468,911
100$115,802,250$3,829,206$0$49,848,498