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%15.5%
1 years$184,151$182,511$180,911$179,349$177,823$173,807
2 years$91,164$89,466$87,821$86,225$84,678$80,653
3 years$60,172$58,467$56,826$55,245$53,723$49,815
4 years$44,679$42,980$41,355$39,801$38,316$34,555
5 years$35,386$33,696$32,093$30,571$29,127$25,524
6 years$29,193$27,516$25,936$24,448$23,047$19,606
7 years$24,771$23,108$21,553$20,100$18,744$15,465
8 years$21,455$19,808$18,278$16,861$15,550$12,432
9 years$18,878$17,246$15,743$14,362$13,095$10,136
10 years$16,818$15,202$13,725$12,380$11,158$8,354
11 years$15,133$13,533$12,084$10,775$9,596$6,944
12 years$13,730$12,147$10,724$9,451$8,316$5,811
13 years$12,544$10,977$9,581$8,344$7,251$4,890
14 years$11,528$9,978$8,609$7,407$6,357$4,133
15 years$10,649$9,115$7,772$6,605$5,597$3,506
16 years$9,880$8,363$7,047$5,914$4,946$2,983
17 years$9,202$7,702$6,412$5,314$4,386$2,545
18 years$8,600$7,117$5,854$4,789$3,900$2,176
19 years$8,062$6,596$5,359$4,327$3,476$1,864
20 years$7,579$6,129$4,918$3,919$3,105$1,599
21 years$7,142$5,709$4,524$3,557$2,778$1,373
22 years$6,746$5,329$4,169$3,234$2,490$1,181
23 years$6,384$4,984$3,850$2,945$2,236$1,016
24 years$6,053$4,670$3,560$2,686$2,009$876
25 years$5,749$4,382$3,297$2,453$1,808$755
26 years$5,469$4,119$3,058$2,243$1,629$651
27 years$5,210$3,876$2,840$2,053$1,468$562
28 years$4,970$3,653$2,640$1,881$1,325$485
29 years$4,747$3,446$2,457$1,725$1,196$419
30 years$4,539$3,254$2,288$1,583$1,081$362
31 years$4,345$3,076$2,133$1,454$977$313
32 years$4,164$2,911$1,990$1,336$884$270
33 years$3,994$2,757$1,858$1,229$800$234
34 years$3,834$2,613$1,736$1,131$724$202
35 years$3,683$2,478$1,623$1,041$656$175
36 years$3,542$2,352$1,519$959$594$151
37 years$3,408$2,234$1,421$883$539$131
38 years$3,282$2,123$1,331$814$488$113
39 years$3,162$2,019$1,247$751$443$98
40 years$3,049$1,921$1,169$692$402$85
41 years$2,941$1,828$1,096$639$365$73
42 years$2,839$1,741$1,028$589$331$64
43 years$2,742$1,659$965$544$300$55
44 years$2,650$1,581$906$502$272$48
45 years$2,561$1,508$850$464$247$41
46 years$2,477$1,439$799$429$225$36
47 years$2,397$1,373$750$396$204$31
48 years$2,321$1,311$705$366$185$27
49 years$2,247$1,252$663$338$168$23
50 years$2,177$1,195$623$313$153$20

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 $6,769 every year, while hoping to spend $39,433 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: 60/20/20 Blend
55$2,230,000$2,230,000$2,230,000$2,230,000
56$2,464,442$2,346,252$2,311,687$2,599,016
57$2,673,859$2,419,262$2,347,172$2,763,937
58$2,903,315$2,494,528$2,382,525$2,938,854
59$3,154,811$2,572,119$2,417,698$3,128,798
60$3,430,555$2,652,105$2,452,643$3,335,234
61$3,732,973$2,734,560$2,487,309$3,559,770
62$4,064,742$2,819,559$2,521,639$3,804,181
63$4,428,808$2,907,180$2,555,577$4,070,419
64$4,828,417$2,997,503$2,589,059$4,360,635
65$5,267,145$3,090,609$2,622,021$4,677,196
66$5,748,928$3,186,583$2,654,394$5,022,709
67$6,278,106$3,285,513$2,686,103$5,400,048
68$6,859,458$3,387,489$2,717,073$5,812,374
69$7,498,250$3,492,602$2,747,222$6,263,171
70$8,200,280$3,600,949$2,776,462$6,756,278
71$8,971,939$3,712,626$2,804,705$7,295,920
72$9,820,268$3,827,735$2,831,853$7,886,755
73$10,753,021$3,946,381$2,857,806$8,533,912
74$11,778,745$4,068,669$2,882,458$9,243,040
75$12,906,853$4,194,710$2,905,697$10,020,366
76$14,147,719$4,324,617$2,927,405$10,872,748
77$15,512,770$4,458,508$2,947,457$11,807,740
78$17,014,600$4,596,501$2,965,723$12,833,667
79$18,667,080$4,738,721$2,982,067$13,959,700
80$20,485,500$4,885,296$2,996,343$15,195,944
81$22,486,700$5,036,355$3,008,400$16,553,532
82$24,689,242$5,192,034$3,018,079$18,044,731
83$27,113,572$5,352,472$3,025,213$19,683,056
84$29,782,225$5,517,811$3,029,626$21,483,399
85$32,720,026$5,688,198$3,031,133$23,462,169
86$35,954,334$5,863,785$3,029,540$25,637,447
87$39,515,292$6,044,727$3,024,646$28,029,155
88$43,436,117$6,231,184$3,016,237$30,659,246
89$47,753,410$6,423,320$3,004,090$33,551,907
90$52,507,500$6,621,306$2,987,970$36,733,794
91$57,742,830$6,825,315$2,967,632$40,234,278
92$63,508,371$7,035,527$2,942,819$44,085,721
93$69,858,083$7,252,126$2,913,262$48,323,788
94$76,851,429$7,475,302$2,878,678$52,987,776
95$84,553,933$7,705,250$2,838,771$58,120,990
96$93,037,797$7,942,170$2,793,234$63,771,148
97$102,382,586$8,186,270$2,741,740$69,990,835
98$112,675,974$8,437,761$2,683,952$76,837,996
99$124,014,573$8,696,862$2,619,515$84,376,484
100$136,504,848$8,963,796$2,548,057$92,676,664