Can I retire at age 56 with 2,310,000?

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 $2,310,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.6%
1 years$190,758$189,058$187,401$185,783$184,203$181,450
2 years$94,434$92,676$90,971$89,319$87,716$84,948
3 years$62,331$60,565$58,864$57,227$55,650$52,955
4 years$46,282$44,521$42,838$41,229$39,690$37,087
5 years$36,656$34,905$33,244$31,668$30,172$27,669
6 years$30,240$28,503$26,866$25,325$23,874$21,474
7 years$25,659$23,937$22,326$20,821$19,416$17,120
8 years$22,225$20,518$18,934$17,466$16,107$13,914
9 years$19,556$17,865$16,308$14,877$13,565$11,474
10 years$17,421$15,747$14,218$12,824$11,558$9,568
11 years$15,676$14,019$12,517$11,161$9,940$8,049
12 years$14,223$12,582$11,109$9,790$8,614$6,819
13 years$12,994$11,371$9,925$8,643$7,512$5,810
14 years$11,942$10,336$8,917$7,672$6,585$4,975
15 years$11,031$9,442$8,051$6,842$5,798$4,276
16 years$10,234$8,663$7,300$6,127$5,124$3,687
17 years$9,532$7,978$6,642$5,505$4,543$3,189
18 years$8,909$7,372$6,064$4,961$4,040$2,764
19 years$8,352$6,832$5,551$4,482$3,601$2,401
20 years$7,851$6,349$5,094$4,060$3,216$2,089
21 years$7,398$5,914$4,686$3,684$2,878$1,821
22 years$6,988$5,520$4,319$3,350$2,580$1,589
23 years$6,613$5,163$3,988$3,051$2,316$1,388
24 years$6,270$4,837$3,688$2,783$2,081$1,214
25 years$5,956$4,540$3,416$2,541$1,873$1,062
26 years$5,665$4,267$3,168$2,324$1,687$930
27 years$5,397$4,015$2,942$2,127$1,521$815
28 years$5,148$3,784$2,735$1,949$1,372$715
29 years$4,917$3,569$2,545$1,787$1,239$627
30 years$4,702$3,371$2,370$1,640$1,120$550
31 years$4,501$3,187$2,210$1,506$1,012$483
32 years$4,313$3,015$2,062$1,384$916$424
33 years$4,137$2,855$1,925$1,273$829$373
34 years$3,971$2,706$1,799$1,171$750$327
35 years$3,816$2,567$1,682$1,078$680$288
36 years$3,669$2,436$1,573$993$616$253
37 years$3,530$2,314$1,472$915$558$222
38 years$3,399$2,199$1,379$843$506$196
39 years$3,276$2,091$1,292$778$459$172
40 years$3,158$1,990$1,211$717$416$151
41 years$3,047$1,894$1,135$662$378$133
42 years$2,941$1,804$1,065$611$343$117
43 years$2,840$1,719$999$564$311$103
44 years$2,745$1,638$938$520$282$91
45 years$2,653$1,562$881$481$256$80
46 years$2,566$1,490$827$444$233$70
47 years$2,483$1,422$777$410$211$62
48 years$2,404$1,358$730$379$192$54
49 years$2,328$1,296$687$350$174$48
50 years$2,255$1,238$645$324$158$42

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $2,310,000, adding $3,152 every year, while hoping to spend $58,994 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: 46/33/21 Blend
55$2,310,000$2,310,000$2,310,000$2,310,000
56$2,548,871$2,426,441$2,390,636$2,650,659
57$2,746,087$2,482,568$2,407,953$2,778,449
58$2,961,441$2,539,467$2,423,873$2,910,907
59$3,196,723$2,597,115$2,438,287$3,053,403
60$3,453,899$2,655,484$2,451,080$3,206,900
61$3,735,137$2,714,543$2,462,132$3,372,461
62$4,042,823$2,774,258$2,471,315$3,551,254
63$4,379,583$2,834,589$2,478,497$3,744,571
64$4,748,312$2,895,496$2,483,538$3,953,832
65$5,152,195$2,956,930$2,486,292$4,180,605
66$5,594,740$3,018,840$2,486,603$4,426,616
67$6,079,810$3,081,170$2,484,311$4,693,771
68$6,611,662$3,143,858$2,479,247$4,984,167
69$7,194,981$3,206,837$2,471,231$5,300,120
70$7,834,930$3,270,033$2,460,078$5,644,180
71$8,537,194$3,333,366$2,445,593$6,019,160
72$9,308,038$3,396,751$2,427,569$6,428,160
73$10,154,359$3,460,093$2,405,794$6,874,599
74$11,083,757$3,523,291$2,380,042$7,362,245
75$12,104,603$3,586,236$2,350,077$7,895,254
76$13,226,121$3,648,809$2,315,652$8,478,206
77$14,458,469$3,710,885$2,276,511$9,116,151
78$15,812,840$3,772,326$2,232,381$9,814,658
79$17,301,565$3,832,984$2,182,981$10,579,865
80$18,938,228$3,892,704$2,128,014$11,418,540
81$20,737,795$3,951,314$2,067,170$12,338,144
82$22,716,756$4,008,635$2,000,126$13,346,902
83$24,893,278$4,064,470$1,926,543$14,453,884
84$27,287,376$4,118,613$1,846,066$15,669,087
85$29,921,105$4,170,842$1,758,326$17,003,534
86$32,818,761$4,220,917$1,662,934$18,469,376
87$36,007,119$4,268,586$1,559,486$20,080,009
88$39,515,676$4,313,577$1,447,559$21,850,201
89$43,376,934$4,355,601$1,326,712$23,796,232
90$47,626,706$4,394,351$1,196,481$25,936,050
91$52,304,452$4,429,497$1,056,386$28,289,440
92$57,453,654$4,460,689$905,922$30,878,213
93$63,122,219$4,487,556$744,563$33,726,412
94$69,362,939$4,509,700$571,760$36,860,543
95$76,233,984$4,526,700$386,939$40,309,822
96$83,799,450$4,538,108$189,501$44,106,457
97$92,129,966$4,543,447$0$48,285,950
98$101,303,358$4,542,212$0$52,892,188
99$111,405,385$4,533,864$0$58,009,182
100$122,530,544$4,517,834$0$63,642,130