Can I retire at age 56 with 2,290,000?

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 $2,290,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.9%
1 years$189,106$187,422$185,778$184,174$182,608$176,059
2 years$93,617$91,873$90,184$88,545$86,956$80,429
3 years$61,791$60,040$58,355$56,732$55,169$48,868
4 years$45,882$44,136$42,467$40,872$39,347$33,322
5 years$36,338$34,603$32,956$31,394$29,911$24,176
6 years$29,978$28,256$26,634$25,106$23,667$18,228
7 years$25,437$23,729$22,133$20,641$19,248$14,103
8 years$22,033$20,340$18,770$17,315$15,968$11,112
9 years$19,386$17,710$16,167$14,749$13,447$8,875
10 years$17,270$15,611$14,095$12,713$11,458$7,161
11 years$15,540$13,897$12,409$11,065$9,854$5,823
12 years$14,100$12,473$11,012$9,705$8,539$4,765
13 years$12,882$11,272$9,839$8,568$7,446$3,918
14 years$11,838$10,246$8,840$7,606$6,528$3,235
15 years$10,935$9,360$7,982$6,783$5,747$2,679
16 years$10,146$8,588$7,236$6,073$5,080$2,225
17 years$9,450$7,909$6,585$5,457$4,504$1,852
18 years$8,832$7,308$6,011$4,918$4,005$1,544
19 years$8,279$6,773$5,503$4,444$3,569$1,289
20 years$7,783$6,294$5,050$4,025$3,188$1,077
21 years$7,334$5,863$4,645$3,653$2,853$901
22 years$6,927$5,472$4,281$3,321$2,557$755
23 years$6,556$5,118$3,953$3,025$2,296$633
24 years$6,216$4,796$3,656$2,759$2,063$530
25 years$5,904$4,500$3,386$2,519$1,857$445
26 years$5,616$4,230$3,140$2,303$1,673$373
27 years$5,350$3,981$2,916$2,108$1,508$314
28 years$5,104$3,751$2,711$1,932$1,361$263
29 years$4,875$3,539$2,523$1,771$1,229$221
30 years$4,661$3,342$2,350$1,626$1,110$186
31 years$4,462$3,159$2,191$1,493$1,004$156
32 years$4,276$2,989$2,044$1,372$908$131
33 years$4,101$2,831$1,908$1,262$822$110
34 years$3,937$2,683$1,783$1,161$744$93
35 years$3,783$2,545$1,667$1,069$674$78
36 years$3,637$2,415$1,560$984$610$66
37 years$3,500$2,294$1,460$907$553$55
38 years$3,370$2,180$1,367$836$502$46
39 years$3,247$2,073$1,281$771$455$39
40 years$3,131$1,972$1,200$711$413$33
41 years$3,020$1,877$1,126$656$374$28
42 years$2,916$1,788$1,056$605$340$23
43 years$2,816$1,704$991$559$308$19
44 years$2,721$1,624$930$516$280$16
45 years$2,630$1,549$873$477$254$14
46 years$2,544$1,477$820$440$231$12
47 years$2,462$1,410$771$407$209$10
48 years$2,383$1,346$724$376$190$8
49 years$2,308$1,285$681$347$173$7
50 years$2,236$1,228$640$321$157$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $2,290,000, adding $2,982 every year, while hoping to spend $30,287 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: 37/40/23 Blend
55$2,290,000$2,290,000$2,290,000$2,290,000
56$2,526,656$2,405,286$2,369,791$2,602,588
57$2,752,150$2,490,920$2,416,954$2,743,970
58$2,999,629$2,579,735$2,464,682$2,893,555
59$3,271,304$2,671,854$2,512,961$3,054,525
60$3,569,609$2,767,408$2,561,778$3,227,925
61$3,897,228$2,866,529$2,611,116$3,414,900
62$4,257,115$2,969,359$2,660,958$3,616,710
63$4,652,524$3,076,041$2,711,284$3,834,738
64$5,087,043$3,186,729$2,762,073$4,070,505
65$5,564,622$3,301,579$2,813,303$4,325,684
66$6,089,612$3,420,755$2,864,948$4,602,111
67$6,666,810$3,544,430$2,916,981$4,901,807
68$7,301,498$3,672,780$2,969,373$5,226,994
69$7,999,496$3,805,991$3,022,092$5,580,116
70$8,767,217$3,944,257$3,075,105$5,963,860
71$9,611,726$4,087,779$3,128,374$6,381,183
72$10,540,809$4,236,767$3,181,861$6,835,339
73$11,563,041$4,391,438$3,235,523$7,329,905
74$12,687,874$4,552,021$3,289,316$7,868,820
75$13,925,720$4,718,753$3,343,191$8,456,418
76$15,288,052$4,891,881$3,397,096$9,097,469
77$16,787,513$5,071,662$3,450,978$9,797,222
78$18,438,030$5,258,365$3,504,777$10,561,456
79$20,254,954$5,452,269$3,558,432$11,396,531
80$22,255,195$5,653,667$3,611,875$12,309,450
81$24,457,390$5,862,861$3,665,038$13,307,923
82$26,882,071$6,080,169$3,717,844$14,400,436
83$29,551,866$6,305,921$3,770,216$15,596,336
84$32,491,707$6,540,461$3,822,068$16,905,913
85$35,729,066$6,784,149$3,873,312$18,340,499
86$39,294,217$7,037,358$3,923,854$19,912,571
87$43,220,517$7,300,479$3,973,594$21,635,873
88$47,544,727$7,573,919$4,022,426$23,525,537
89$52,307,351$7,858,103$4,070,240$25,598,231
90$57,553,024$8,153,473$4,116,916$27,872,312
91$63,330,931$8,460,492$4,162,331$30,368,000
92$69,695,271$8,779,641$4,206,354$33,107,565
93$76,705,768$9,111,423$4,248,846$36,115,536
94$84,428,235$9,456,361$4,289,661$39,418,935
95$92,935,196$9,815,004$4,328,646$43,047,525
96$102,306,568$10,187,921$4,365,638$47,034,092
97$112,630,418$10,575,709$4,400,466$51,414,754
98$124,003,791$10,978,989$4,432,952$56,229,300
99$136,533,627$11,398,409$4,462,906$61,521,560
100$150,337,772$11,834,647$4,490,129$67,339,821