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%17.1%
1 years$189,932$188,240$186,589$184,978$183,405$178,105
2 years$94,026$92,275$90,577$88,932$87,336$82,038
3 years$62,061$60,302$58,610$56,980$55,409$50,280
4 years$46,082$44,329$42,653$41,051$39,518$34,597
5 years$36,497$34,754$33,100$31,531$30,041$25,341
6 years$30,109$28,379$26,750$25,215$23,771$19,296
7 years$25,548$23,833$22,229$20,731$19,332$15,083
8 years$22,129$20,429$18,852$17,391$16,038$12,012
9 years$19,471$17,787$16,237$14,813$13,506$9,699
10 years$17,346$15,679$14,156$12,769$11,508$7,915
11 years$15,608$13,958$12,463$11,113$9,897$6,512
12 years$14,161$12,528$11,060$9,747$8,577$5,392
13 years$12,938$11,321$9,882$8,606$7,479$4,489
14 years$11,890$10,291$8,879$7,639$6,556$3,753
15 years$10,983$9,401$8,016$6,813$5,772$3,148
16 years$10,190$8,625$7,268$6,100$5,102$2,648
17 years$9,491$7,943$6,614$5,481$4,524$2,233
18 years$8,870$7,340$6,037$4,939$4,022$1,887
19 years$8,316$6,803$5,527$4,463$3,585$1,597
20 years$7,817$6,321$5,072$4,042$3,202$1,353
21 years$7,366$5,888$4,666$3,669$2,866$1,148
22 years$6,957$5,496$4,300$3,336$2,569$975
23 years$6,585$5,141$3,970$3,038$2,306$829
24 years$6,243$4,816$3,672$2,771$2,072$705
25 years$5,930$4,520$3,401$2,530$1,865$600
26 years$5,641$4,248$3,154$2,314$1,680$511
27 years$5,374$3,998$2,929$2,118$1,514$435
28 years$5,126$3,767$2,723$1,940$1,367$371
29 years$4,896$3,554$2,534$1,779$1,234$316
30 years$4,682$3,356$2,360$1,633$1,115$270
31 years$4,482$3,173$2,200$1,500$1,008$230
32 years$4,294$3,002$2,053$1,378$912$196
33 years$4,119$2,843$1,917$1,267$825$167
34 years$3,954$2,695$1,791$1,166$747$143
35 years$3,799$2,556$1,674$1,073$677$122
36 years$3,653$2,426$1,566$989$613$104
37 years$3,515$2,304$1,466$911$556$89
38 years$3,385$2,190$1,373$840$504$76
39 years$3,261$2,082$1,286$774$457$65
40 years$3,144$1,981$1,206$714$414$55
41 years$3,034$1,886$1,131$659$376$47
42 years$2,928$1,796$1,060$608$341$40
43 years$2,828$1,711$995$561$310$34
44 years$2,733$1,631$934$518$281$29
45 years$2,642$1,555$877$479$255$25
46 years$2,555$1,484$824$442$232$21
47 years$2,473$1,416$774$408$210$18
48 years$2,393$1,352$727$377$191$16
49 years$2,318$1,291$684$349$173$13
50 years$2,246$1,233$643$322$158$11

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 $2,708 every year, while hoping to spend $39,993 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: 53/31/16 Blend
55$2,300,000$2,300,000$2,300,000$2,300,000
56$2,537,393$2,415,493$2,379,843$2,660,807
57$2,753,655$2,491,300$2,417,016$2,821,298
58$2,990,635$2,569,481$2,454,093$2,991,364
59$3,250,405$2,650,111$2,491,030$3,175,516
60$3,535,245$2,733,265$2,527,778$3,375,103
61$3,847,667$2,819,022$2,564,286$3,591,611
62$4,190,439$2,907,464$2,600,500$3,826,672
63$4,566,609$2,998,675$2,636,361$4,082,086
64$4,979,533$3,092,740$2,671,810$4,359,829
65$5,432,911$3,189,749$2,706,780$4,662,082
66$5,930,815$3,289,794$2,741,204$4,991,242
67$6,477,733$3,392,969$2,775,010$5,349,949
68$7,078,609$3,499,372$2,808,120$5,741,109
69$7,738,889$3,609,103$2,840,454$6,167,923
70$8,464,572$3,722,266$2,871,926$6,633,915
71$9,262,270$3,838,968$2,902,447$7,142,965
72$10,139,263$3,959,320$2,931,921$7,699,347
73$11,103,576$4,083,434$2,960,248$8,307,768
74$12,164,047$4,211,428$2,987,322$8,973,410
75$13,330,414$4,343,423$3,013,032$9,701,983
76$14,613,409$4,479,543$3,037,261$10,499,775
77$16,024,853$4,619,917$3,059,886$11,373,713
78$17,577,772$4,764,677$3,080,776$12,331,425
79$19,286,517$4,913,959$3,099,795$13,381,317
80$21,166,903$5,067,904$3,116,799$14,532,646
81$23,236,353$5,226,657$3,131,637$15,795,611
82$25,514,065$5,390,367$3,144,151$17,181,449
83$28,021,193$5,559,188$3,154,173$18,702,535
84$30,781,046$5,733,280$3,161,530$20,372,508
85$33,819,308$5,912,805$3,166,036$22,206,391
86$37,164,277$6,097,933$3,167,498$24,220,736
87$40,847,139$6,288,837$3,165,715$26,433,780
88$44,902,254$6,485,697$3,160,473$28,865,614
89$49,367,485$6,688,697$3,151,550$31,538,376
90$54,284,553$6,898,028$3,138,712$34,476,458
91$59,699,433$7,113,886$3,121,713$37,706,735
92$65,662,782$7,336,474$3,100,298$41,258,818
93$72,230,424$7,566,000$3,074,196$45,165,335
94$79,463,872$7,802,678$3,043,127$49,462,235
95$87,430,909$8,046,732$3,006,793$54,189,134
96$96,206,228$8,298,388$2,964,887$59,389,678
97$105,872,136$8,557,882$2,917,084$65,111,964
98$116,519,333$8,825,457$2,863,045$71,408,988
99$128,247,763$9,101,362$2,802,415$78,339,148
100$141,167,562$9,385,856$2,734,823$85,966,791