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%18.9%
1 years$190,758$189,058$187,401$185,783$184,203$177,596
2 years$94,434$92,676$90,971$89,319$87,716$81,131
3 years$62,331$60,565$58,864$57,227$55,650$49,295
4 years$46,282$44,521$42,838$41,229$39,690$33,613
5 years$36,656$34,905$33,244$31,668$30,172$24,388
6 years$30,240$28,503$26,866$25,325$23,874$18,387
7 years$25,659$23,937$22,326$20,821$19,416$14,226
8 years$22,225$20,518$18,934$17,466$16,107$11,209
9 years$19,556$17,865$16,308$14,877$13,565$8,952
10 years$17,421$15,747$14,218$12,824$11,558$7,223
11 years$15,676$14,019$12,517$11,161$9,940$5,874
12 years$14,223$12,582$11,109$9,790$8,614$4,807
13 years$12,994$11,371$9,925$8,643$7,512$3,953
14 years$11,942$10,336$8,917$7,672$6,585$3,263
15 years$11,031$9,442$8,051$6,842$5,798$2,703
16 years$10,234$8,663$7,300$6,127$5,124$2,244
17 years$9,532$7,978$6,642$5,505$4,543$1,868
18 years$8,909$7,372$6,064$4,961$4,040$1,557
19 years$8,352$6,832$5,551$4,482$3,601$1,300
20 years$7,851$6,349$5,094$4,060$3,216$1,087
21 years$7,398$5,914$4,686$3,684$2,878$909
22 years$6,988$5,520$4,319$3,350$2,580$761
23 years$6,613$5,163$3,988$3,051$2,316$638
24 years$6,270$4,837$3,688$2,783$2,081$535
25 years$5,956$4,540$3,416$2,541$1,873$449
26 years$5,665$4,267$3,168$2,324$1,687$377
27 years$5,397$4,015$2,942$2,127$1,521$316
28 years$5,148$3,784$2,735$1,949$1,372$266
29 years$4,917$3,569$2,545$1,787$1,239$223
30 years$4,702$3,371$2,370$1,640$1,120$187
31 years$4,501$3,187$2,210$1,506$1,012$158
32 years$4,313$3,015$2,062$1,384$916$132
33 years$4,137$2,855$1,925$1,273$829$111
34 years$3,971$2,706$1,799$1,171$750$94
35 years$3,816$2,567$1,682$1,078$680$79
36 years$3,669$2,436$1,573$993$616$66
37 years$3,530$2,314$1,472$915$558$56
38 years$3,399$2,199$1,379$843$506$47
39 years$3,276$2,091$1,292$778$459$39
40 years$3,158$1,990$1,211$717$416$33
41 years$3,047$1,894$1,135$662$378$28
42 years$2,941$1,804$1,065$611$343$23
43 years$2,840$1,719$999$564$311$20
44 years$2,745$1,638$938$520$282$17
45 years$2,653$1,562$881$481$256$14
46 years$2,566$1,490$827$444$233$12
47 years$2,483$1,422$777$410$211$10
48 years$2,404$1,358$730$379$192$8
49 years$2,328$1,296$687$350$174$7
50 years$2,255$1,238$645$324$158$6

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 $2,893 every year, while hoping to spend $26,029 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: 51/32/17 Blend
55$2,310,000$2,310,000$2,310,000$2,310,000
56$2,548,604$2,426,174$2,390,369$2,666,542
57$2,780,867$2,517,362$2,442,752$2,839,143
58$3,035,949$2,612,146$2,496,017$3,023,743
59$3,316,148$2,710,674$2,550,167$3,223,875
60$3,624,000$2,813,102$2,605,202$3,441,015
61$3,962,296$2,919,591$2,661,124$3,676,785
62$4,334,110$3,030,311$2,717,931$3,932,972
63$4,742,830$3,145,438$2,775,623$4,211,537
64$5,192,189$3,265,154$2,834,197$4,514,641
65$5,686,299$3,389,653$2,893,649$4,844,657
66$6,229,690$3,519,135$2,953,975$5,204,199
67$6,827,353$3,653,807$3,015,168$5,596,141
68$7,484,789$3,793,889$3,077,221$6,023,645
69$8,208,056$3,939,608$3,140,127$6,490,193
70$9,003,830$4,091,202$3,203,874$6,999,614
71$9,879,468$4,248,918$3,268,451$7,556,124
72$10,843,074$4,413,015$3,333,844$8,164,362
73$11,903,579$4,583,764$3,400,039$8,829,436
74$13,070,822$4,761,447$3,467,019$9,556,968
75$14,355,647$4,946,359$3,534,764$10,353,147
76$15,769,998$5,138,806$3,603,255$11,224,787
77$17,327,041$5,339,111$3,672,467$12,179,390
78$19,041,281$5,547,608$3,742,376$13,225,217
79$20,928,699$5,764,649$3,812,953$14,371,363
80$23,006,908$5,990,598$3,884,169$15,627,844
81$25,295,314$6,225,839$3,955,990$17,005,689
82$27,815,301$6,470,770$4,028,381$18,517,044
83$30,590,433$6,725,809$4,101,302$20,175,285
84$33,646,674$6,991,390$4,174,713$21,995,146
85$37,012,636$7,267,970$4,248,567$23,992,850
86$40,719,848$7,556,023$4,322,816$26,186,268
87$44,803,050$7,856,046$4,397,409$28,595,084
88$49,300,527$8,168,558$4,472,288$31,240,979
89$54,254,465$8,494,102$4,547,394$34,147,833
90$59,711,352$8,833,244$4,622,663$37,341,952
91$65,722,413$9,186,576$4,698,025$40,852,314
92$72,344,098$9,554,717$4,773,408$44,710,840
93$79,638,612$9,938,314$4,848,733$48,952,692
94$87,674,502$10,338,043$4,923,917$53,616,609
95$96,527,304$10,754,611$4,998,872$58,745,265
96$106,280,258$11,188,755$5,073,502$64,385,674
97$117,025,088$11,641,248$5,147,709$70,589,629
98$128,862,875$12,112,897$5,221,385$77,414,191
99$141,905,005$12,604,546$5,294,418$84,922,225
100$156,274,222$13,117,075$5,366,688$93,182,992