Can I retire at age 56 with 2,260,000?

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 $2,260,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.2%
1 years$186,629$184,966$183,344$181,761$180,216$178,557
2 years$92,390$90,670$89,002$87,385$85,817$84,145
3 years$60,982$59,254$57,590$55,989$54,446$52,814
4 years$45,281$43,558$41,911$40,337$38,831$37,251
5 years$35,862$34,150$32,525$30,982$29,519$27,995
6 years$29,585$27,886$26,285$24,777$23,357$21,892
7 years$25,104$23,419$21,843$20,370$18,996$17,589
8 years$21,744$20,074$18,524$17,088$15,759$14,412
9 years$19,132$17,478$15,955$14,555$13,271$11,983
10 years$17,044$15,406$13,910$12,547$11,308$10,077
11 years$15,337$13,715$12,246$10,920$9,725$8,551
12 years$13,915$12,310$10,868$9,578$8,427$7,309
13 years$12,713$11,125$9,710$8,456$7,349$6,285
14 years$11,683$10,112$8,724$7,506$6,442$5,431
15 years$10,792$9,237$7,877$6,694$5,672$4,713
16 years$10,013$8,475$7,142$5,994$5,013$4,104
17 years$9,326$7,805$6,499$5,385$4,445$3,584
18 years$8,716$7,212$5,932$4,853$3,952$3,138
19 years$8,171$6,684$5,431$4,385$3,523$2,754
20 years$7,681$6,211$4,984$3,972$3,146$2,421
21 years$7,238$5,786$4,584$3,605$2,816$2,132
22 years$6,836$5,401$4,225$3,278$2,524$1,880
23 years$6,470$5,051$3,901$2,985$2,266$1,660
24 years$6,135$4,733$3,608$2,722$2,036$1,468
25 years$5,827$4,441$3,342$2,486$1,832$1,299
26 years$5,543$4,174$3,099$2,273$1,651$1,150
27 years$5,280$3,928$2,878$2,081$1,488$1,019
28 years$5,037$3,702$2,675$1,906$1,343$904
29 years$4,811$3,492$2,490$1,748$1,213$802
30 years$4,600$3,298$2,319$1,604$1,096$712
31 years$4,404$3,118$2,162$1,474$991$632
32 years$4,220$2,950$2,017$1,354$896$562
33 years$4,047$2,794$1,883$1,245$811$499
34 years$3,885$2,648$1,760$1,146$734$444
35 years$3,733$2,511$1,645$1,055$665$395
36 years$3,589$2,384$1,539$971$602$351
37 years$3,454$2,264$1,441$895$546$312
38 years$3,326$2,152$1,349$825$495$278
39 years$3,205$2,046$1,264$761$449$247
40 years$3,090$1,946$1,185$702$407$220
41 years$2,981$1,853$1,111$647$369$196
42 years$2,877$1,765$1,042$597$335$175
43 years$2,779$1,681$978$551$304$155
44 years$2,685$1,603$918$509$276$138
45 years$2,596$1,528$862$470$251$123
46 years$2,511$1,458$809$434$228$110
47 years$2,430$1,391$760$401$207$98
48 years$2,352$1,328$715$371$188$87
49 years$2,278$1,268$672$343$170$78
50 years$2,207$1,212$631$317$155$69

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $2,260,000, adding $2,233 every year, while hoping to spend $28,647 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: 47/46/7 Blend
55$2,260,000$2,260,000$2,260,000$2,260,000
56$2,492,823$2,373,043$2,338,013$2,605,197
57$2,716,611$2,458,842$2,385,857$2,768,356
58$2,962,265$2,547,885$2,434,342$2,942,134
59$3,231,986$2,640,301$2,483,462$3,130,053
60$3,528,196$2,736,223$2,533,206$3,333,432
61$3,853,566$2,835,792$2,583,562$3,553,720
62$4,211,037$2,939,153$2,634,519$3,792,510
63$4,603,848$3,046,458$2,686,061$4,051,552
64$5,035,570$3,157,863$2,738,174$4,332,770
65$5,510,135$3,273,535$2,790,839$4,638,279
66$6,031,874$3,393,644$2,844,038$4,970,405
67$6,605,562$3,518,370$2,897,750$5,331,704
68$7,236,457$3,647,897$2,951,952$5,724,988
69$7,930,353$3,782,421$3,006,619$6,153,351
70$8,693,633$3,922,144$3,061,725$6,620,194
71$9,533,330$4,067,276$3,117,240$7,129,260
72$10,457,195$4,218,037$3,173,132$7,684,666
73$11,473,765$4,374,657$3,229,368$8,290,943
74$12,592,448$4,537,374$3,285,911$8,953,077
75$13,823,610$4,706,438$3,342,721$9,676,553
76$15,178,672$4,882,108$3,399,757$10,467,411
77$16,670,220$5,064,655$3,456,972$11,332,295
78$18,312,121$5,254,361$3,514,319$12,278,520
79$20,119,654$5,451,522$3,571,746$13,314,141
80$22,109,656$5,656,443$3,629,196$14,448,020
81$24,300,679$5,869,447$3,686,612$15,689,917
82$26,713,165$6,090,867$3,743,931$17,050,578
83$29,369,640$6,321,051$3,801,084$18,541,832
84$32,294,924$6,560,364$3,858,002$20,176,707
85$35,516,370$6,809,185$3,914,608$21,969,545
86$39,064,115$7,067,910$3,970,823$23,936,143
87$42,971,370$7,336,953$4,026,561$26,093,895
88$47,274,730$7,616,745$4,081,731$28,461,956
89$52,014,522$7,907,734$4,136,238$31,061,424
90$57,235,183$8,210,393$4,189,982$33,915,535
91$62,985,679$8,525,209$4,242,853$37,049,878
92$69,319,969$8,852,696$4,294,740$40,492,640
93$76,297,515$9,193,387$4,345,523$44,274,868
94$83,983,837$9,547,839$4,395,074$48,430,757
95$92,451,140$9,916,634$4,443,260$52,997,977
96$101,778,988$10,300,380$4,489,941$58,018,020
97$112,055,058$10,699,712$4,534,967$63,536,593
98$123,375,967$11,115,291$4,578,182$69,604,046
99$135,848,184$11,547,810$4,619,420$76,275,847
100$149,589,036$11,997,989$4,658,507$83,613,098