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%12.5%
1 years$191,583$189,877$188,212$186,587$185,000$183,068
2 years$94,843$93,077$91,365$89,705$88,095$86,150
3 years$62,601$60,827$59,119$57,475$55,891$53,992
4 years$46,483$44,714$43,024$41,408$39,862$38,025
5 years$36,814$35,056$33,388$31,805$30,303$28,532
6 years$30,371$28,626$26,983$25,435$23,977$22,276
7 years$25,770$24,040$22,423$20,911$19,500$17,868
8 years$22,321$20,607$19,016$17,542$16,177$14,615
9 years$19,640$17,942$16,379$14,942$13,624$12,130
10 years$17,497$15,815$14,279$12,880$11,608$10,183
11 years$15,744$14,079$12,571$11,209$9,983$8,625
12 years$14,284$12,637$11,157$9,832$8,651$7,358
13 years$13,050$11,420$9,968$8,680$7,544$6,315
14 years$11,994$10,380$8,956$7,705$6,613$5,446
15 years$11,078$9,483$8,086$6,872$5,823$4,717
16 years$10,278$8,700$7,331$6,153$5,146$4,099
17 years$9,573$8,013$6,671$5,528$4,563$3,572
18 years$8,947$7,404$6,090$4,982$4,057$3,121
19 years$8,388$6,862$5,575$4,502$3,616$2,733
20 years$7,885$6,376$5,116$4,077$3,230$2,397
21 years$7,431$5,939$4,706$3,700$2,891$2,107
22 years$7,018$5,544$4,337$3,365$2,591$1,853
23 years$6,642$5,185$4,005$3,064$2,326$1,633
24 years$6,298$4,858$3,704$2,795$2,090$1,440
25 years$5,981$4,559$3,430$2,552$1,881$1,271
26 years$5,690$4,285$3,182$2,334$1,694$1,123
27 years$5,420$4,033$2,954$2,136$1,528$993
28 years$5,171$3,800$2,746$1,957$1,378$878
29 years$4,939$3,585$2,556$1,795$1,245$777
30 years$4,723$3,386$2,381$1,647$1,125$688
31 years$4,521$3,200$2,219$1,513$1,017$610
32 years$4,332$3,028$2,071$1,390$920$540
33 years$4,155$2,868$1,933$1,278$832$479
34 years$3,989$2,718$1,807$1,176$754$425
35 years$3,832$2,578$1,689$1,083$683$377
36 years$3,685$2,447$1,580$997$618$334
37 years$3,546$2,324$1,479$919$561$297
38 years$3,414$2,209$1,385$847$508$263
39 years$3,290$2,100$1,297$781$461$234
40 years$3,172$1,998$1,216$720$418$208
41 years$3,060$1,902$1,140$665$379$184
42 years$2,954$1,811$1,070$613$344$164
43 years$2,853$1,726$1,004$566$312$145
44 years$2,756$1,645$942$523$283$129
45 years$2,665$1,569$885$483$257$115
46 years$2,577$1,497$831$446$234$102
47 years$2,494$1,428$781$412$212$91
48 years$2,414$1,363$734$381$193$80
49 years$2,338$1,302$690$352$175$72
50 years$2,265$1,244$648$325$159$64

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 $3,778 every year, while hoping to spend $28,416 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: 31/42/27 Blend
55$2,320,000$2,320,000$2,320,000$2,320,000
56$2,560,537$2,437,577$2,401,617$2,618,599
57$2,791,477$2,526,784$2,451,837$2,752,899
58$3,045,021$2,619,409$2,502,787$2,894,600
59$3,323,444$2,715,591$2,554,461$3,046,570
60$3,629,253$2,815,473$2,606,853$3,209,728
61$3,965,209$2,919,203$2,659,954$3,385,081
62$4,334,355$3,026,938$2,713,757$3,573,733
63$4,740,041$3,138,840$2,768,250$3,776,900
64$5,185,960$3,255,078$2,823,421$3,995,912
65$5,676,179$3,375,828$2,879,257$4,232,234
66$6,215,180$3,501,275$2,935,743$4,487,474
67$6,807,900$3,631,609$2,992,862$4,763,398
68$7,459,779$3,767,031$3,050,596$5,061,947
69$8,176,810$3,907,749$3,108,925$5,385,255
70$8,965,597$4,053,981$3,167,826$5,735,667
71$9,833,414$4,205,953$3,227,274$6,115,763
72$10,788,279$4,363,900$3,287,244$6,528,377
73$11,839,023$4,528,071$3,347,707$6,976,627
74$12,995,379$4,698,722$3,408,630$7,463,943
75$14,268,069$4,876,121$3,469,981$7,994,096
76$15,668,910$5,060,549$3,531,723$8,571,237
77$17,210,919$5,252,296$3,593,816$9,199,930
78$18,908,442$5,451,669$3,656,219$9,885,199
79$20,777,287$5,658,983$3,718,885$10,632,571
80$22,834,869$5,874,572$3,781,767$11,448,129
81$25,100,380$6,098,782$3,844,811$12,338,566
82$27,594,970$6,331,972$3,907,963$13,311,252
83$30,341,939$6,574,521$3,971,162$14,374,296
84$33,366,966$6,826,822$4,034,345$15,536,626
85$36,698,345$7,089,285$4,097,445$16,808,070
86$40,367,256$7,362,340$4,160,388$18,199,449
87$44,408,055$7,646,433$4,223,100$19,722,675
88$48,858,600$7,942,031$4,285,497$21,390,865
89$53,760,609$8,249,624$4,347,494$23,218,460
90$59,160,055$8,569,718$4,408,998$25,221,366
91$65,107,593$8,902,847$4,469,912$27,417,094
92$71,659,047$9,249,566$4,530,133$29,824,931
93$78,875,929$9,610,454$4,589,552$32,466,115
94$86,826,024$9,986,117$4,648,052$35,364,039
95$95,584,028$10,377,186$4,705,512$38,544,463
96$105,232,254$10,784,324$4,761,802$42,035,764
97$115,861,407$11,208,218$4,816,785$45,869,193
98$127,571,440$11,649,591$4,870,318$50,079,174
99$140,472,501$12,109,194$4,922,246$54,703,625
100$154,685,965$12,587,814$4,972,411$59,784,312