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

Use the below retirement simulation to view the chances of a successful retirement.
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%16%
1 years$191,583$189,877$188,212$186,587$185,000$180,454
2 years$94,843$93,077$91,365$89,705$88,095$83,544
3 years$62,601$60,827$59,119$57,475$55,891$51,476
4 years$46,483$44,714$43,024$41,408$39,862$35,617
5 years$36,814$35,056$33,388$31,805$30,303$26,240
6 years$30,371$28,626$26,983$25,435$23,977$20,101
7 years$25,770$24,040$22,423$20,911$19,500$15,810
8 years$22,321$20,607$19,016$17,542$16,177$12,672
9 years$19,640$17,942$16,379$14,942$13,624$10,301
10 years$17,497$15,815$14,279$12,880$11,608$8,464
11 years$15,744$14,079$12,571$11,209$9,983$7,013
12 years$14,284$12,637$11,157$9,832$8,651$5,849
13 years$13,050$11,420$9,968$8,680$7,544$4,905
14 years$11,994$10,380$8,956$7,705$6,613$4,132
15 years$11,078$9,483$8,086$6,872$5,823$3,493
16 years$10,278$8,700$7,331$6,153$5,146$2,962
17 years$9,573$8,013$6,671$5,528$4,563$2,518
18 years$8,947$7,404$6,090$4,982$4,057$2,145
19 years$8,388$6,862$5,575$4,502$3,616$1,830
20 years$7,885$6,376$5,116$4,077$3,230$1,564
21 years$7,431$5,939$4,706$3,700$2,891$1,338
22 years$7,018$5,544$4,337$3,365$2,591$1,146
23 years$6,642$5,185$4,005$3,064$2,326$983
24 years$6,298$4,858$3,704$2,795$2,090$843
25 years$5,981$4,559$3,430$2,552$1,881$724
26 years$5,690$4,285$3,182$2,334$1,694$622
27 years$5,420$4,033$2,954$2,136$1,528$535
28 years$5,171$3,800$2,746$1,957$1,378$460
29 years$4,939$3,585$2,556$1,795$1,245$395
30 years$4,723$3,386$2,381$1,647$1,125$340
31 years$4,521$3,200$2,219$1,513$1,017$293
32 years$4,332$3,028$2,071$1,390$920$252
33 years$4,155$2,868$1,933$1,278$832$217
34 years$3,989$2,718$1,807$1,176$754$187
35 years$3,832$2,578$1,689$1,083$683$161
36 years$3,685$2,447$1,580$997$618$139
37 years$3,546$2,324$1,479$919$561$119
38 years$3,414$2,209$1,385$847$508$103
39 years$3,290$2,100$1,297$781$461$89
40 years$3,172$1,998$1,216$720$418$76
41 years$3,060$1,902$1,140$665$379$66
42 years$2,954$1,811$1,070$613$344$57
43 years$2,853$1,726$1,004$566$312$49
44 years$2,756$1,645$942$523$283$42
45 years$2,665$1,569$885$483$257$36
46 years$2,577$1,497$831$446$234$31
47 years$2,494$1,428$781$412$212$27
48 years$2,414$1,363$734$381$193$23
49 years$2,338$1,302$690$352$175$20
50 years$2,265$1,244$648$325$159$17

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 $3,472 every year, while hoping to spend $52,665 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: 75/8/17 Blend
55$2,320,000$2,320,000$2,320,000$2,320,000
56$2,560,221$2,437,261$2,401,301$2,742,146
57$2,765,329$2,500,652$2,425,710$2,926,410
58$2,989,592$2,565,384$2,449,171$3,121,469
59$3,234,909$2,631,467$2,471,597$3,333,867
60$3,503,371$2,698,909$2,492,897$3,565,314
61$3,797,279$2,767,720$2,512,972$3,817,698
62$4,119,167$2,837,903$2,531,722$4,093,094
63$4,471,826$2,909,465$2,549,039$4,393,793
64$4,858,331$2,982,407$2,564,810$4,722,314
65$5,282,065$3,056,730$2,578,917$5,081,435
66$5,746,759$3,132,433$2,591,233$5,474,216
67$6,256,518$3,209,512$2,601,629$5,904,028
68$6,815,866$3,287,960$2,609,966$6,374,584
69$7,429,784$3,367,770$2,616,100$6,889,976
70$8,103,760$3,448,930$2,619,878$7,454,713
71$8,843,841$3,531,425$2,621,142$8,073,763
72$9,656,686$3,615,237$2,619,722$8,752,597
73$10,549,629$3,700,345$2,615,445$9,497,248
74$11,530,754$3,786,725$2,608,125$10,314,360
75$12,608,963$3,874,346$2,597,569$11,211,256
76$13,794,064$3,963,177$2,583,575$12,196,004
77$15,096,864$4,053,178$2,565,930$13,277,495
78$16,529,268$4,144,307$2,544,412$14,465,526
79$18,104,391$4,236,515$2,518,787$15,770,893
80$19,836,684$4,329,750$2,488,812$17,205,492
81$21,742,070$4,423,951$2,454,231$18,782,433
82$23,838,089$4,519,053$2,414,776$20,516,161
83$26,144,069$4,614,982$2,370,166$22,422,596
84$28,681,306$4,711,657$2,320,108$24,519,281
85$31,473,262$4,808,992$2,264,295$26,825,547
86$34,545,793$4,906,890$2,202,407$29,362,697
87$37,927,382$5,005,247$2,134,106$32,154,209
88$41,649,418$5,103,947$2,059,041$35,225,951
89$45,746,485$5,202,866$1,976,846$38,606,435
90$50,256,691$5,301,871$1,887,134$42,327,076
91$55,222,026$5,400,815$1,789,506$46,422,499
92$60,688,758$5,499,541$1,683,540$50,930,857
93$66,707,871$5,597,878$1,568,798$55,894,197
94$73,335,542$5,695,643$1,444,821$61,358,854
95$80,633,675$5,792,637$1,311,131$67,375,891
96$88,670,482$5,888,648$1,167,225$74,001,579
97$97,521,127$5,983,447$1,012,583$81,297,932
98$107,268,434$6,076,788$846,657$89,333,288
99$118,003,671$6,168,408$668,877$98,182,957
100$129,827,409$6,258,024$478,648$107,929,934