Can I retire at age 56 with 2,230,000?

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 $2,230,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.5%
1 years$184,151$182,511$180,911$179,349$177,823$171,719
2 years$91,164$89,466$87,821$86,225$84,678$78,590
3 years$60,172$58,467$56,826$55,245$53,723$47,843
4 years$44,679$42,980$41,355$39,801$38,316$32,688
5 years$35,386$33,696$32,093$30,571$29,127$23,767
6 years$29,193$27,516$25,936$24,448$23,047$17,959
7 years$24,771$23,108$21,553$20,100$18,744$13,926
8 years$21,455$19,808$18,278$16,861$15,550$10,999
9 years$18,878$17,246$15,743$14,362$13,095$8,806
10 years$16,818$15,202$13,725$12,380$11,158$7,123
11 years$15,133$13,533$12,084$10,775$9,596$5,808
12 years$13,730$12,147$10,724$9,451$8,316$4,765
13 years$12,544$10,977$9,581$8,344$7,251$3,929
14 years$11,528$9,978$8,609$7,407$6,357$3,253
15 years$10,649$9,115$7,772$6,605$5,597$2,702
16 years$9,880$8,363$7,047$5,914$4,946$2,250
17 years$9,202$7,702$6,412$5,314$4,386$1,878
18 years$8,600$7,117$5,854$4,789$3,900$1,570
19 years$8,062$6,596$5,359$4,327$3,476$1,315
20 years$7,579$6,129$4,918$3,919$3,105$1,103
21 years$7,142$5,709$4,524$3,557$2,778$925
22 years$6,746$5,329$4,169$3,234$2,490$777
23 years$6,384$4,984$3,850$2,945$2,236$654
24 years$6,053$4,670$3,560$2,686$2,009$550
25 years$5,749$4,382$3,297$2,453$1,808$463
26 years$5,469$4,119$3,058$2,243$1,629$390
27 years$5,210$3,876$2,840$2,053$1,468$328
28 years$4,970$3,653$2,640$1,881$1,325$276
29 years$4,747$3,446$2,457$1,725$1,196$233
30 years$4,539$3,254$2,288$1,583$1,081$196
31 years$4,345$3,076$2,133$1,454$977$166
32 years$4,164$2,911$1,990$1,336$884$140
33 years$3,994$2,757$1,858$1,229$800$118
34 years$3,834$2,613$1,736$1,131$724$99
35 years$3,683$2,478$1,623$1,041$656$84
36 years$3,542$2,352$1,519$959$594$71
37 years$3,408$2,234$1,421$883$539$60
38 years$3,282$2,123$1,331$814$488$50
39 years$3,162$2,019$1,247$751$443$42
40 years$3,049$1,921$1,169$692$402$36
41 years$2,941$1,828$1,096$639$365$30
42 years$2,839$1,741$1,028$589$331$25
43 years$2,742$1,659$965$544$300$21
44 years$2,650$1,581$906$502$272$18
45 years$2,561$1,508$850$464$247$15
46 years$2,477$1,439$799$429$225$13
47 years$2,397$1,373$750$396$204$11
48 years$2,321$1,311$705$366$185$9
49 years$2,247$1,252$663$338$168$8
50 years$2,177$1,195$623$313$153$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $2,230,000, adding $4,341 every year, while hoping to spend $40,134 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: 73/20/7 Blend
55$2,230,000$2,230,000$2,230,000$2,230,000
56$2,461,938$2,343,748$2,309,183$2,638,919
57$2,670,353$2,415,889$2,343,838$2,828,309
58$2,898,682$2,490,220$2,378,309$3,030,195
59$3,148,912$2,566,806$2,412,548$3,250,161
60$3,423,235$2,645,714$2,446,502$3,489,978
61$3,724,063$2,727,011$2,480,118$3,751,598
62$4,054,052$2,810,770$2,513,336$4,037,168
63$4,416,130$2,897,061$2,546,097$4,349,055
64$4,813,519$2,985,961$2,578,335$4,689,863
65$5,249,770$3,077,546$2,609,982$5,062,458
66$5,728,796$3,171,895$2,640,965$5,470,000
67$6,254,903$3,269,088$2,671,208$5,915,966
68$6,832,840$3,369,209$2,700,630$6,404,185
69$7,467,834$3,472,345$2,729,145$6,938,877
70$8,165,645$3,578,582$2,756,664$7,524,687
71$8,932,621$3,688,012$2,783,092$8,166,733
72$9,775,751$3,800,728$2,808,329$8,870,651
73$10,702,739$3,916,825$2,832,269$9,642,650
74$11,722,070$4,036,401$2,854,801$10,489,570
75$12,843,094$4,159,558$2,875,810$11,418,944
76$14,076,112$4,286,398$2,895,172$12,439,073
77$15,432,472$4,417,029$2,912,757$13,559,099
78$16,924,680$4,551,559$2,928,431$14,789,096
79$18,566,514$4,690,102$2,942,049$16,140,160
80$20,373,153$4,832,772$2,953,463$17,624,518
81$22,361,324$4,979,687$2,962,514$19,255,637
82$24,549,458$5,130,970$2,969,036$21,048,359
83$26,957,860$5,286,745$2,972,856$23,019,034
84$29,608,906$5,447,140$2,973,792$25,185,674
85$32,527,252$5,612,287$2,971,651$27,568,128
86$35,740,063$5,782,321$2,966,233$30,188,265
87$39,277,275$5,957,380$2,957,326$33,070,180
88$43,171,871$6,137,606$2,944,711$36,240,421
89$47,460,198$6,323,145$2,928,155$39,728,242
90$52,182,306$6,514,146$2,907,416$43,565,874
91$57,382,326$6,710,764$2,882,239$47,788,835
92$63,108,886$6,913,154$2,852,357$52,436,258
93$69,415,572$7,121,479$2,817,491$57,551,264
94$76,361,433$7,335,904$2,777,349$63,181,369
95$84,011,533$7,556,597$2,731,625$69,378,929
96$92,437,573$7,783,734$2,679,997$76,201,638
97$101,718,560$8,017,491$2,622,132$83,713,068
98$111,941,557$8,258,052$2,557,677$91,983,269
99$123,202,502$8,505,603$2,486,265$101,089,434
100$135,607,115$8,760,335$2,407,513$111,116,623