Can I retire at age 56 with 2,320,000?

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 $2,320,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.6%
1 years$191,583$189,877$188,212$186,587$185,000$183,757
2 years$94,843$93,077$91,365$89,705$88,095$86,842
3 years$62,601$60,827$59,119$57,475$55,891$54,666
4 years$46,483$44,714$43,024$41,408$39,862$38,674
5 years$36,814$35,056$33,388$31,805$30,303$29,156
6 years$30,371$28,626$26,983$25,435$23,977$22,873
7 years$25,770$24,040$22,423$20,911$19,500$18,439
8 years$22,321$20,607$19,016$17,542$16,177$15,160
9 years$19,640$17,942$16,379$14,942$13,624$12,649
10 years$17,497$15,815$14,279$12,880$11,608$10,676
11 years$15,744$14,079$12,571$11,209$9,983$9,093
12 years$14,284$12,637$11,157$9,832$8,651$7,802
13 years$13,050$11,420$9,968$8,680$7,544$6,734
14 years$11,994$10,380$8,956$7,705$6,613$5,843
15 years$11,078$9,483$8,086$6,872$5,823$5,090
16 years$10,278$8,700$7,331$6,153$5,146$4,451
17 years$9,573$8,013$6,671$5,528$4,563$3,903
18 years$8,947$7,404$6,090$4,982$4,057$3,432
19 years$8,388$6,862$5,575$4,502$3,616$3,025
20 years$7,885$6,376$5,116$4,077$3,230$2,671
21 years$7,431$5,939$4,706$3,700$2,891$2,363
22 years$7,018$5,544$4,337$3,365$2,591$2,093
23 years$6,642$5,185$4,005$3,064$2,326$1,856
24 years$6,298$4,858$3,704$2,795$2,090$1,649
25 years$5,981$4,559$3,430$2,552$1,881$1,465
26 years$5,690$4,285$3,182$2,334$1,694$1,304
27 years$5,420$4,033$2,954$2,136$1,528$1,161
28 years$5,171$3,800$2,746$1,957$1,378$1,034
29 years$4,939$3,585$2,556$1,795$1,245$922
30 years$4,723$3,386$2,381$1,647$1,125$823
31 years$4,521$3,200$2,219$1,513$1,017$734
32 years$4,332$3,028$2,071$1,390$920$656
33 years$4,155$2,868$1,933$1,278$832$586
34 years$3,989$2,718$1,807$1,176$754$523
35 years$3,832$2,578$1,689$1,083$683$468
36 years$3,685$2,447$1,580$997$618$418
37 years$3,546$2,324$1,479$919$561$374
38 years$3,414$2,209$1,385$847$508$334
39 years$3,290$2,100$1,297$781$461$299
40 years$3,172$1,998$1,216$720$418$268
41 years$3,060$1,902$1,140$665$379$240
42 years$2,954$1,811$1,070$613$344$214
43 years$2,853$1,726$1,004$566$312$192
44 years$2,756$1,645$942$523$283$172
45 years$2,665$1,569$885$483$257$154
46 years$2,577$1,497$831$446$234$138
47 years$2,494$1,428$781$412$212$123
48 years$2,414$1,363$734$381$193$110
49 years$2,338$1,302$690$352$175$99
50 years$2,265$1,244$648$325$159$89

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $2,320,000, adding $3,259 every year, while hoping to spend $39,461 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: 33/42/25 Blend
55$2,320,000$2,320,000$2,320,000$2,320,000
56$2,560,002$2,437,042$2,401,082$2,624,851
57$2,779,136$2,514,471$2,439,532$2,751,429
58$3,019,299$2,594,371$2,477,947$2,883,977
59$3,282,594$2,676,822$2,516,285$3,026,045
60$3,571,339$2,761,906$2,554,501$3,178,498
61$3,888,083$2,849,708$2,592,545$3,342,290
62$4,235,639$2,940,314$2,630,366$3,518,467
63$4,617,101$3,033,816$2,667,910$3,708,182
64$5,035,879$3,130,307$2,705,119$3,912,700
65$5,495,729$3,229,882$2,741,930$4,133,414
66$6,000,788$3,332,642$2,778,280$4,371,856
67$6,555,615$3,438,688$2,814,100$4,629,710
68$7,165,232$3,548,128$2,849,316$4,908,832
69$7,835,168$3,661,069$2,883,851$5,211,260
70$8,571,520$3,777,626$2,917,624$5,539,241
71$9,381,000$3,897,914$2,950,549$5,895,244
72$10,271,005$4,022,055$2,982,536$6,281,990
73$11,249,685$4,150,173$3,013,488$6,702,472
74$12,326,018$4,282,397$3,043,305$7,159,986
75$13,509,896$4,418,858$3,071,880$7,658,161
76$14,812,218$4,559,695$3,099,101$8,200,991
77$16,244,993$4,705,049$3,124,850$8,792,876
78$17,821,452$4,855,066$3,149,002$9,438,660
79$19,556,173$5,009,897$3,171,426$10,143,677
80$21,465,219$5,169,698$3,191,985$10,913,801
81$23,566,288$5,334,631$3,210,533$11,755,504
82$25,878,883$5,504,861$3,226,919$12,675,910
83$28,424,490$5,680,560$3,240,983$13,682,868
84$31,226,787$5,861,907$3,252,555$14,785,025
85$34,311,863$6,049,084$3,261,459$15,991,902
86$37,708,465$6,242,280$3,267,509$17,313,989
87$41,448,269$6,441,693$3,270,512$18,762,843
88$45,566,179$6,647,523$3,270,261$20,351,192
89$50,100,658$6,859,980$3,266,543$22,093,061
90$55,094,085$7,079,279$3,259,132$24,003,898
91$60,593,161$7,305,643$3,247,793$26,100,724
92$66,649,347$7,539,303$3,232,277$28,402,291
93$73,319,348$7,780,496$3,212,326$30,929,259
94$80,665,649$8,029,468$3,187,666$33,704,389
95$88,757,107$8,286,474$3,158,015$36,752,759
96$97,669,595$8,551,774$3,123,072$40,102,002
97$107,486,724$8,825,642$3,082,525$43,782,561
98$118,300,628$9,108,356$3,036,047$47,827,980
99$130,212,832$9,400,206$2,983,295$52,275,222
100$143,335,216$9,701,491$2,923,911$57,165,009