Can I retire at age 56 with 2,300,000?

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 $2,300,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.7%
1 years$189,932$188,240$186,589$184,978$183,405$180,590
2 years$94,026$92,275$90,577$88,932$87,336$84,506
3 years$62,061$60,302$58,610$56,980$55,409$52,654
4 years$46,082$44,329$42,653$41,051$39,518$36,858
5 years$36,497$34,754$33,100$31,531$30,041$27,483
6 years$30,109$28,379$26,750$25,215$23,771$21,318
7 years$25,548$23,833$22,229$20,731$19,332$16,986
8 years$22,129$20,429$18,852$17,391$16,038$13,798
9 years$19,471$17,787$16,237$14,813$13,506$11,371
10 years$17,346$15,679$14,156$12,769$11,508$9,476
11 years$15,608$13,958$12,463$11,113$9,897$7,967
12 years$14,161$12,528$11,060$9,747$8,577$6,745
13 years$12,938$11,321$9,882$8,606$7,479$5,744
14 years$11,890$10,291$8,879$7,639$6,556$4,914
15 years$10,983$9,401$8,016$6,813$5,772$4,221
16 years$10,190$8,625$7,268$6,100$5,102$3,638
17 years$9,491$7,943$6,614$5,481$4,524$3,144
18 years$8,870$7,340$6,037$4,939$4,022$2,723
19 years$8,316$6,803$5,527$4,463$3,585$2,364
20 years$7,817$6,321$5,072$4,042$3,202$2,055
21 years$7,366$5,888$4,666$3,669$2,866$1,790
22 years$6,957$5,496$4,300$3,336$2,569$1,560
23 years$6,585$5,141$3,970$3,038$2,306$1,362
24 years$6,243$4,816$3,672$2,771$2,072$1,190
25 years$5,930$4,520$3,401$2,530$1,865$1,041
26 years$5,641$4,248$3,154$2,314$1,680$911
27 years$5,374$3,998$2,929$2,118$1,514$797
28 years$5,126$3,767$2,723$1,940$1,367$699
29 years$4,896$3,554$2,534$1,779$1,234$612
30 years$4,682$3,356$2,360$1,633$1,115$537
31 years$4,482$3,173$2,200$1,500$1,008$471
32 years$4,294$3,002$2,053$1,378$912$413
33 years$4,119$2,843$1,917$1,267$825$363
34 years$3,954$2,695$1,791$1,166$747$319
35 years$3,799$2,556$1,674$1,073$677$280
36 years$3,653$2,426$1,566$989$613$246
37 years$3,515$2,304$1,466$911$556$216
38 years$3,385$2,190$1,373$840$504$190
39 years$3,261$2,082$1,286$774$457$167
40 years$3,144$1,981$1,206$714$414$146
41 years$3,034$1,886$1,131$659$376$129
42 years$2,928$1,796$1,060$608$341$113
43 years$2,828$1,711$995$561$310$99
44 years$2,733$1,631$934$518$281$87
45 years$2,642$1,555$877$479$255$77
46 years$2,555$1,484$824$442$232$68
47 years$2,473$1,416$774$408$210$59
48 years$2,393$1,352$727$377$191$52
49 years$2,318$1,291$684$349$173$46
50 years$2,246$1,233$643$322$158$40

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $2,300,000, adding $6,818 every year, while hoping to spend $43,488 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$2,300,000$2,300,000$2,300,000$2,300,000
56$2,541,633$2,419,733$2,384,083$2,617,896
57$2,754,608$2,492,029$2,417,679$2,746,523
58$2,987,850$2,566,410$2,450,942$2,880,837
59$3,243,379$2,642,932$2,483,817$3,025,048
60$3,523,421$2,721,653$2,516,242$3,180,072
61$3,830,427$2,802,632$2,548,154$3,346,919
62$4,167,099$2,885,928$2,579,485$3,526,699
63$4,536,408$2,971,604$2,610,163$3,720,634
64$4,941,632$3,059,723$2,640,114$3,930,068
65$5,386,377$3,150,348$2,669,257$4,156,481
66$5,874,619$3,243,546$2,697,508$4,401,499
67$6,410,734$3,339,384$2,724,778$4,666,916
68$6,999,546$3,437,931$2,750,975$4,954,705
69$7,646,366$3,539,256$2,776,000$5,267,037
70$8,357,048$3,643,432$2,799,747$5,606,305
71$9,138,037$3,750,530$2,822,109$5,975,141
72$9,996,437$3,860,627$2,842,971$6,376,447
73$10,940,074$3,973,797$2,862,210$6,813,416
74$11,977,567$4,090,119$2,879,700$7,289,565
75$13,118,415$4,209,671$2,895,306$7,808,769
76$14,373,082$4,332,534$2,908,887$8,375,294
77$15,753,098$4,458,790$2,920,297$8,993,842
78$17,271,165$4,588,522$2,929,378$9,669,589
79$18,941,280$4,721,815$2,935,968$10,408,240
80$20,778,862$4,858,756$2,939,895$11,216,077
81$22,800,904$4,999,433$2,940,979$12,100,024
82$25,026,126$5,143,934$2,939,031$13,067,705
83$27,475,155$5,292,352$2,933,854$14,127,523
84$30,170,721$5,444,777$2,925,238$15,288,735
85$33,137,868$5,601,304$2,912,966$16,561,540
86$36,404,189$5,762,027$2,896,810$17,957,175
87$40,000,093$5,927,043$2,876,529$19,488,022
88$43,959,084$6,096,449$2,851,874$21,167,723
89$48,318,079$6,270,344$2,822,581$23,011,311
90$53,117,760$6,448,827$2,788,374$25,035,349
91$58,402,951$6,632,000$2,748,965$27,258,089
92$64,223,049$6,819,965$2,704,052$29,699,641
93$70,632,481$7,012,825$2,653,318$32,382,168
94$77,691,224$7,210,682$2,596,434$35,330,089
95$85,465,367$7,413,644$2,533,052$38,570,313
96$94,027,735$7,621,814$2,462,811$42,132,493
97$103,458,580$7,835,298$2,385,331$46,049,304
98$113,846,332$8,054,204$2,300,216$50,356,754
99$125,288,435$8,278,638$2,207,051$55,094,522
100$137,892,272$8,508,707$2,105,403$60,306,334