Can I retire at age 56 with 2,330,000?

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 $2,330,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.3%
1 years$192,409$190,695$189,023$187,391$185,797$180,283
2 years$95,252$93,478$91,759$90,092$88,475$82,965
3 years$62,871$61,089$59,374$57,723$56,132$50,799
4 years$46,683$44,907$43,209$41,586$40,034$34,919
5 years$36,973$35,208$33,532$31,942$30,433$25,550
6 years$30,502$28,750$27,099$25,544$24,081$19,434
7 years$25,881$24,144$22,519$21,001$19,584$15,173
8 years$22,418$20,696$19,098$17,618$16,247$12,069
9 years$19,725$18,019$16,449$15,006$13,682$9,734
10 years$17,572$15,883$14,341$12,936$11,658$7,933
11 years$15,812$14,140$12,625$11,258$10,026$6,519
12 years$14,346$12,691$11,205$9,875$8,689$5,391
13 years$13,107$11,469$10,011$8,718$7,577$4,482
14 years$12,045$10,425$8,995$7,739$6,642$3,741
15 years$11,126$9,524$8,121$6,902$5,848$3,134
16 years$10,323$8,738$7,363$6,180$5,168$2,633
17 years$9,615$8,047$6,700$5,552$4,583$2,217
18 years$8,986$7,436$6,116$5,004$4,075$1,870
19 years$8,424$6,891$5,599$4,521$3,632$1,581
20 years$7,919$6,404$5,139$4,095$3,244$1,337
21 years$7,463$5,965$4,726$3,716$2,903$1,133
22 years$7,048$5,568$4,356$3,379$2,602$961
23 years$6,670$5,208$4,022$3,077$2,336$815
24 years$6,325$4,879$3,720$2,807$2,099$692
25 years$6,007$4,579$3,445$2,563$1,889$588
26 years$5,714$4,303$3,195$2,344$1,702$500
27 years$5,444$4,050$2,967$2,145$1,534$425
28 years$5,193$3,816$2,758$1,966$1,384$362
29 years$4,960$3,600$2,567$1,802$1,250$308
30 years$4,743$3,400$2,391$1,654$1,130$262
31 years$4,540$3,214$2,229$1,519$1,021$223
32 years$4,350$3,041$2,080$1,396$924$190
33 years$4,173$2,880$1,942$1,284$836$162
34 years$4,006$2,730$1,814$1,181$757$138
35 years$3,849$2,589$1,696$1,087$686$118
36 years$3,701$2,457$1,587$1,002$621$100
37 years$3,561$2,334$1,485$923$563$85
38 years$3,429$2,218$1,391$851$510$73
39 years$3,304$2,109$1,303$784$463$62
40 years$3,185$2,007$1,221$723$420$53
41 years$3,073$1,910$1,145$667$381$45
42 years$2,966$1,819$1,074$616$346$38
43 years$2,865$1,733$1,008$569$314$33
44 years$2,768$1,652$946$525$285$28
45 years$2,676$1,576$889$485$258$24
46 years$2,589$1,503$835$448$235$20
47 years$2,505$1,434$784$414$213$17
48 years$2,425$1,369$737$382$194$15
49 years$2,348$1,308$692$353$176$13
50 years$2,275$1,249$651$327$160$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $2,330,000, adding $3,174 every year, while hoping to spend $38,686 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: 56/24/20 Blend
55$2,330,000$2,330,000$2,330,000$2,330,000
56$2,570,934$2,447,444$2,411,329$2,700,918
57$2,792,008$2,526,207$2,450,947$2,868,723
58$3,034,334$2,607,533$2,490,595$3,047,036
59$3,300,041$2,691,507$2,530,235$3,240,444
60$3,591,470$2,778,215$2,569,822$3,450,408
61$3,911,201$2,867,750$2,609,313$3,678,532
62$4,262,078$2,960,203$2,648,659$3,926,585
63$4,647,230$3,055,673$2,687,809$4,196,512
64$5,070,105$3,154,259$2,726,709$4,490,456
65$5,534,503$3,256,065$2,765,301$4,810,774
66$6,044,608$3,361,198$2,803,524$5,160,064
67$6,605,029$3,469,768$2,841,313$5,541,186
68$7,220,845$3,581,889$2,878,600$5,957,287
69$7,897,651$3,697,682$2,915,313$6,411,836
70$8,641,610$3,817,266$2,951,374$6,908,650
71$9,459,512$3,940,770$2,986,703$7,451,936
72$10,358,838$4,068,324$3,021,214$8,046,327
73$11,347,832$4,200,064$3,054,817$8,696,922
74$12,435,573$4,336,129$3,087,415$9,409,344
75$13,632,066$4,476,665$3,118,909$10,189,781
76$14,948,336$4,621,821$3,149,191$11,045,053
77$16,396,529$4,771,752$3,178,151$11,982,671
78$17,990,026$4,926,619$3,205,671$13,010,909
79$19,743,573$5,086,587$3,231,625$14,138,885
80$21,673,416$5,251,829$3,255,883$15,376,639
81$23,797,457$5,422,522$3,278,308$16,735,236
82$26,135,422$5,598,849$3,298,755$18,226,865
83$28,709,043$5,781,001$3,317,072$19,864,956
84$31,542,269$5,969,174$3,333,098$21,664,303
85$34,661,489$6,163,572$3,346,665$23,641,209
86$38,095,780$6,364,406$3,357,597$25,813,633
87$41,877,181$6,571,893$3,365,708$28,201,366
88$46,040,997$6,786,260$3,370,803$30,826,211
89$50,626,132$7,007,739$3,372,678$33,712,192
90$55,675,452$7,236,573$3,371,117$36,885,782
91$61,236,195$7,473,012$3,365,896$40,376,147
92$67,360,412$7,717,314$3,356,779$44,215,426
93$74,105,459$7,969,748$3,343,516$48,439,031
94$81,534,542$8,230,592$3,325,850$53,085,984
95$89,717,306$8,500,132$3,303,507$58,199,282
96$98,730,499$8,778,666$3,276,202$63,826,301
97$108,658,691$9,066,502$3,243,636$70,019,250
98$119,595,076$9,363,959$3,205,496$76,835,655
99$131,642,348$9,671,367$3,161,455$84,338,907
100$144,913,672$9,989,068$3,111,168$92,598,857