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

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 $2,330,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.7%
1 years$192,409$190,695$189,023$187,391$185,797$181,453
2 years$95,252$93,478$91,759$90,092$88,475$84,123
3 years$62,871$61,089$59,374$57,723$56,132$51,908
4 years$46,683$44,907$43,209$41,586$40,034$35,971
5 years$36,973$35,208$33,532$31,942$30,433$26,542
6 years$30,502$28,750$27,099$25,544$24,081$20,366
7 years$25,881$24,144$22,519$21,001$19,584$16,046
8 years$22,418$20,696$19,098$17,618$16,247$12,884
9 years$19,725$18,019$16,449$15,006$13,682$10,492
10 years$17,572$15,883$14,341$12,936$11,658$8,636
11 years$15,812$14,140$12,625$11,258$10,026$7,169
12 years$14,346$12,691$11,205$9,875$8,689$5,992
13 years$13,107$11,469$10,011$8,718$7,577$5,035
14 years$12,045$10,425$8,995$7,739$6,642$4,250
15 years$11,126$9,524$8,121$6,902$5,848$3,600
16 years$10,323$8,738$7,363$6,180$5,168$3,059
17 years$9,615$8,047$6,700$5,552$4,583$2,606
18 years$8,986$7,436$6,116$5,004$4,075$2,225
19 years$8,424$6,891$5,599$4,521$3,632$1,903
20 years$7,919$6,404$5,139$4,095$3,244$1,630
21 years$7,463$5,965$4,726$3,716$2,903$1,398
22 years$7,048$5,568$4,356$3,379$2,602$1,200
23 years$6,670$5,208$4,022$3,077$2,336$1,031
24 years$6,325$4,879$3,720$2,807$2,099$887
25 years$6,007$4,579$3,445$2,563$1,889$764
26 years$5,714$4,303$3,195$2,344$1,702$658
27 years$5,444$4,050$2,967$2,145$1,534$567
28 years$5,193$3,816$2,758$1,966$1,384$488
29 years$4,960$3,600$2,567$1,802$1,250$421
30 years$4,743$3,400$2,391$1,654$1,130$363
31 years$4,540$3,214$2,229$1,519$1,021$313
32 years$4,350$3,041$2,080$1,396$924$270
33 years$4,173$2,880$1,942$1,284$836$233
34 years$4,006$2,730$1,814$1,181$757$202
35 years$3,849$2,589$1,696$1,087$686$174
36 years$3,701$2,457$1,587$1,002$621$150
37 years$3,561$2,334$1,485$923$563$130
38 years$3,429$2,218$1,391$851$510$112
39 years$3,304$2,109$1,303$784$463$97
40 years$3,185$2,007$1,221$723$420$84
41 years$3,073$1,910$1,145$667$381$72
42 years$2,966$1,819$1,074$616$346$62
43 years$2,865$1,733$1,008$569$314$54
44 years$2,768$1,652$946$525$285$47
45 years$2,676$1,576$889$485$258$40
46 years$2,589$1,503$835$448$235$35
47 years$2,505$1,434$784$414$213$30
48 years$2,425$1,369$737$382$194$26
49 years$2,348$1,308$692$353$176$22
50 years$2,275$1,249$651$327$160$19

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 $3,851 every year, while hoping to spend $51,477 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: 60/33/7 Blend
55$2,330,000$2,330,000$2,330,000$2,330,000
56$2,571,632$2,448,142$2,412,027$2,722,018
57$2,779,168$2,513,330$2,438,059$2,888,373
58$3,006,146$2,579,987$2,463,238$3,063,485
59$3,254,497$2,648,130$2,487,480$3,253,179
60$3,526,344$2,717,777$2,510,699$3,458,860
61$3,824,026$2,788,943$2,532,802$3,682,073
62$4,150,118$2,861,642$2,553,692$3,924,518
63$4,507,457$2,935,890$2,573,268$4,188,070
64$4,899,167$3,011,697$2,591,421$4,474,789
65$5,328,687$3,089,075$2,608,039$4,786,947
66$5,799,807$3,168,034$2,623,002$5,127,043
67$6,316,700$3,248,581$2,636,186$5,497,832
68$6,883,964$3,330,722$2,647,459$5,902,345
69$7,506,662$3,414,461$2,656,682$6,343,921
70$8,190,372$3,499,800$2,663,712$6,826,240
71$8,941,239$3,586,739$2,668,395$7,353,354
72$9,766,030$3,675,274$2,670,571$7,929,724
73$10,672,203$3,765,401$2,670,073$8,560,267
74$11,667,972$3,857,109$2,666,725$9,250,400
75$12,762,386$3,950,389$2,660,341$10,006,089
76$13,965,416$4,045,224$2,650,729$10,833,906
77$15,288,044$4,141,596$2,637,684$11,741,093
78$16,742,372$4,239,482$2,620,994$12,735,628
79$18,341,733$4,338,855$2,600,436$13,826,302
80$20,100,815$4,439,684$2,575,775$15,022,799
81$22,035,802$4,541,932$2,546,768$16,335,790
82$24,164,526$4,645,560$2,513,157$17,777,033
83$26,506,634$4,750,518$2,474,674$19,359,483
84$29,083,773$4,856,756$2,431,038$21,097,414
85$31,919,794$4,964,213$2,381,954$23,006,556
86$35,040,977$5,072,824$2,327,114$25,104,241
87$38,476,280$5,182,516$2,266,196$27,409,566
88$42,257,610$5,293,208$2,198,862$29,943,577
89$46,420,123$5,404,811$2,124,760$32,729,463
90$51,002,557$5,517,229$2,043,522$35,792,779
91$56,047,599$5,630,354$1,954,761$39,161,682
92$61,602,282$5,744,070$1,858,074$42,867,204
93$67,718,435$5,858,249$1,753,039$46,943,538
94$74,453,166$5,972,754$1,639,216$51,428,366
95$81,869,404$6,087,435$1,516,146$56,363,211
96$90,036,493$6,202,128$1,383,345$61,793,832
97$99,030,840$6,316,658$1,240,313$67,770,656
98$108,936,647$6,430,834$1,086,524$74,349,249
99$119,846,692$6,544,452$921,430$81,590,849
100$131,863,215$6,657,291$744,458$89,562,938