Can I retire at age 56 with 2,270,000?

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 $2,270,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.2%
1 years$187,454$185,785$184,156$182,566$181,013$176,422
2 years$92,799$91,071$89,396$87,772$86,197$81,601
3 years$61,252$59,516$57,845$56,236$54,687$50,231
4 years$45,481$43,750$42,096$40,515$39,003$34,720
5 years$36,021$34,301$32,669$31,119$29,649$25,552
6 years$29,716$28,009$26,401$24,887$23,461$19,553
7 years$25,215$23,522$21,939$20,461$19,080$15,362
8 years$21,840$20,163$18,606$17,164$15,829$12,298
9 years$19,217$17,555$16,026$14,620$13,330$9,985
10 years$17,120$15,474$13,972$12,602$11,358$8,194
11 years$15,405$13,776$12,300$10,968$9,768$6,780
12 years$13,977$12,364$10,916$9,620$8,465$5,648
13 years$12,769$11,174$9,753$8,493$7,381$4,730
14 years$11,735$10,157$8,763$7,539$6,471$3,979
15 years$10,840$9,278$7,912$6,724$5,697$3,359
16 years$10,057$8,513$7,173$6,020$5,035$2,844
17 years$9,367$7,840$6,527$5,409$4,465$2,414
18 years$8,755$7,244$5,959$4,875$3,970$2,053
19 years$8,207$6,714$5,455$4,405$3,538$1,750
20 years$7,715$6,239$5,006$3,989$3,160$1,493
21 years$7,270$5,811$4,605$3,621$2,828$1,276
22 years$6,867$5,425$4,244$3,292$2,535$1,091
23 years$6,499$5,074$3,919$2,998$2,276$934
24 years$6,162$4,754$3,624$2,734$2,045$800
25 years$5,852$4,461$3,357$2,497$1,841$686
26 years$5,567$4,193$3,113$2,283$1,658$588
27 years$5,304$3,946$2,891$2,090$1,495$505
28 years$5,059$3,718$2,687$1,915$1,349$433
29 years$4,832$3,508$2,501$1,756$1,218$372
30 years$4,621$3,313$2,329$1,612$1,100$320
31 years$4,423$3,131$2,172$1,480$995$275
32 years$4,238$2,963$2,026$1,360$900$236
33 years$4,065$2,806$1,892$1,251$814$203
34 years$3,903$2,659$1,768$1,151$737$174
35 years$3,750$2,522$1,653$1,059$668$150
36 years$3,605$2,394$1,546$976$605$129
37 years$3,469$2,274$1,447$899$548$111
38 years$3,341$2,161$1,355$829$497$95
39 years$3,219$2,055$1,270$764$451$82
40 years$3,103$1,955$1,190$705$409$71
41 years$2,994$1,861$1,116$650$371$61
42 years$2,890$1,772$1,047$600$337$52
43 years$2,791$1,689$982$554$306$45
44 years$2,697$1,610$922$511$277$39
45 years$2,607$1,535$866$472$252$33
46 years$2,522$1,464$813$436$229$29
47 years$2,440$1,397$764$403$208$25
48 years$2,362$1,334$718$372$189$21
49 years$2,288$1,274$675$344$171$18
50 years$2,216$1,217$634$318$156$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $2,270,000, adding $3,335 every year, while hoping to spend $23,032 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: 53/19/28 Blend
55$2,270,000$2,270,000$2,270,000$2,270,000
56$2,504,980$2,384,670$2,349,485$2,617,991
57$2,735,982$2,477,013$2,403,687$2,789,033
58$2,989,775$2,573,109$2,458,933$2,972,459
59$3,268,657$2,673,117$2,515,233$3,171,626
60$3,575,165$2,777,204$2,572,598$3,388,051
61$3,912,089$2,885,545$2,631,037$3,623,401
62$4,282,506$2,998,320$2,690,560$3,879,512
63$4,689,804$3,115,720$2,751,176$4,158,404
64$5,137,716$3,237,942$2,812,893$4,462,299
65$5,630,356$3,365,195$2,875,718$4,793,643
66$6,172,256$3,497,693$2,939,659$5,155,129
67$6,768,410$3,635,664$3,004,720$5,549,719
68$7,424,319$3,779,342$3,070,909$5,980,675
69$8,146,044$3,928,975$3,138,230$6,451,590
70$8,940,265$4,084,819$3,206,685$6,966,416
71$9,814,342$4,247,145$3,276,279$7,529,505
72$10,776,383$4,416,233$3,347,013$8,145,651
73$11,835,323$4,592,378$3,418,886$8,820,131
74$13,001,007$4,775,885$3,491,900$9,558,757
75$14,284,283$4,967,077$3,566,052$10,367,926
76$15,697,104$5,166,288$3,641,339$11,254,688
77$17,252,641$5,373,868$3,717,756$12,226,803
78$18,965,408$5,590,185$3,795,298$13,292,819
79$20,851,396$5,815,621$3,873,957$14,462,151
80$22,928,228$6,050,575$3,953,724$15,745,168
81$25,215,321$6,295,468$4,034,588$17,153,292
82$27,734,073$6,550,735$4,116,536$18,699,104
83$30,508,061$6,816,833$4,199,553$20,396,461
84$33,563,267$7,094,242$4,283,622$22,260,629
85$36,928,321$7,383,461$4,368,723$24,308,423
86$40,634,771$7,685,011$4,454,837$26,558,367
87$44,717,381$7,999,440$4,541,937$29,030,868
88$49,214,460$8,327,319$4,629,998$31,748,407
89$54,168,222$8,669,245$4,718,990$34,735,750
90$59,625,186$9,025,843$4,808,881$38,020,182
91$65,636,611$9,397,765$4,899,635$41,631,762
92$72,258,986$9,785,696$4,991,214$45,603,607
93$79,554,558$10,190,351$5,083,574$49,972,203
94$87,591,920$10,612,475$5,176,671$54,777,751
95$96,446,661$11,052,852$5,270,455$60,064,539
96$106,202,078$11,512,299$5,364,873$65,881,365
97$116,949,959$11,991,671$5,459,866$72,281,993
98$128,791,456$12,491,864$5,555,372$79,325,663
99$141,838,032$13,013,812$5,651,324$87,077,643
100$156,212,519$13,558,497$5,747,651$95,609,848