Can I retire at age 56 with 2,350,000?

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 $2,350,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.5%
1 years$194,061$192,332$190,646$189,000$187,392$183,160
2 years$96,070$94,280$92,546$90,865$89,234$84,993
3 years$63,410$61,613$59,884$58,218$56,614$52,496
4 years$47,084$45,292$43,580$41,943$40,378$36,415
5 years$37,290$35,510$33,820$32,216$30,694$26,898
6 years$30,764$28,996$27,331$25,764$24,287$20,661
7 years$26,103$24,351$22,713$21,182$19,752$16,297
8 years$22,610$20,873$19,262$17,769$16,386$13,101
9 years$19,894$18,174$16,590$15,135$13,800$10,681
10 years$17,723$16,020$14,464$13,047$11,758$8,803
11 years$15,948$14,261$12,734$11,354$10,112$7,317
12 years$14,469$12,800$11,301$9,959$8,763$6,124
13 years$13,219$11,568$10,097$8,793$7,642$5,153
14 years$12,149$10,515$9,072$7,805$6,699$4,355
15 years$11,222$9,605$8,191$6,961$5,898$3,695
16 years$10,411$8,813$7,426$6,233$5,213$3,144
17 years$9,697$8,116$6,757$5,600$4,622$2,682
18 years$9,063$7,500$6,169$5,047$4,110$2,293
19 years$8,496$6,951$5,647$4,560$3,663$1,964
20 years$7,987$6,459$5,183$4,130$3,272$1,685
21 years$7,527$6,016$4,767$3,748$2,928$1,447
22 years$7,109$5,616$4,394$3,408$2,624$1,244
23 years$6,728$5,252$4,057$3,104$2,356$1,071
24 years$6,379$4,921$3,752$2,831$2,117$923
25 years$6,059$4,618$3,475$2,585$1,905$795
26 years$5,763$4,340$3,223$2,364$1,716$686
27 years$5,491$4,085$2,993$2,164$1,547$592
28 years$5,238$3,849$2,782$1,982$1,396$511
29 years$5,003$3,631$2,589$1,818$1,261$442
30 years$4,784$3,429$2,411$1,668$1,139$382
31 years$4,579$3,242$2,248$1,532$1,030$330
32 years$4,388$3,067$2,098$1,408$932$285
33 years$4,209$2,905$1,958$1,295$843$246
34 years$4,040$2,753$1,830$1,191$763$213
35 years$3,882$2,611$1,711$1,097$691$184
36 years$3,732$2,479$1,600$1,010$626$159
37 years$3,591$2,354$1,498$931$568$138
38 years$3,458$2,237$1,403$858$515$119
39 years$3,332$2,127$1,314$791$467$103
40 years$3,213$2,024$1,232$730$423$89
41 years$3,100$1,927$1,155$673$384$77
42 years$2,992$1,835$1,084$621$349$67
43 years$2,890$1,748$1,017$573$316$58
44 years$2,792$1,666$954$529$287$50
45 years$2,699$1,589$896$489$261$43
46 years$2,611$1,516$842$452$237$38
47 years$2,526$1,447$791$417$215$33
48 years$2,446$1,381$743$386$195$28
49 years$2,368$1,319$698$356$177$24
50 years$2,294$1,260$657$329$161$21

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $2,350,000, adding $4,317 every year, while hoping to spend $30,237 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: 76/19/5 Blend
55$2,350,000$2,350,000$2,350,000$2,350,000
56$2,594,153$2,469,603$2,433,178$2,790,212
57$2,826,585$2,558,442$2,482,518$3,008,376
58$3,081,711$2,650,620$2,532,497$3,243,093
59$3,361,815$2,746,270$2,583,104$3,499,458
60$3,669,411$2,845,528$2,634,329$3,779,601
61$4,007,270$2,948,538$2,686,158$4,085,872
62$4,378,443$3,055,447$2,738,576$4,420,855
63$4,786,292$3,166,412$2,791,567$4,787,397
64$5,234,521$3,281,594$2,845,112$5,188,630
65$5,727,211$3,401,161$2,899,191$5,628,004
66$6,268,856$3,525,287$2,953,784$6,109,318
67$6,864,409$3,654,156$3,008,865$6,636,755
68$7,519,326$3,787,957$3,064,410$7,214,922
69$8,239,620$3,926,890$3,120,390$7,848,892
70$9,031,914$4,071,159$3,176,775$8,544,252
71$9,903,504$4,220,982$3,233,533$9,307,155
72$10,862,433$4,376,581$3,290,627$10,144,378
73$11,917,558$4,538,191$3,348,021$11,063,386
74$13,078,642$4,706,055$3,405,672$12,072,400
75$14,356,439$4,880,427$3,463,538$13,180,477
76$15,762,801$5,061,573$3,521,571$14,397,593
77$17,310,784$5,249,768$3,579,722$15,734,736
78$19,014,778$5,445,300$3,637,936$17,204,011
79$20,890,635$5,648,469$3,696,156$18,818,753
80$22,955,824$5,859,589$3,754,322$20,593,652
81$25,229,595$6,078,986$3,812,369$22,544,891
82$27,733,157$6,306,999$3,870,226$24,690,298
83$30,489,882$6,543,985$3,927,822$27,049,515
84$33,525,523$6,790,313$3,985,077$29,644,180
85$36,868,458$7,046,370$4,041,909$32,498,134
86$40,549,957$7,312,559$4,098,229$35,637,641
87$44,604,478$7,589,300$4,153,945$39,091,641
88$49,069,991$7,877,032$4,208,959$42,892,015
89$53,988,335$8,176,212$4,263,164$47,073,892
90$59,405,617$8,487,317$4,316,451$51,675,976
91$65,372,641$8,810,847$4,368,704$56,740,910
92$71,945,393$9,147,321$4,419,798$62,315,682
93$79,185,564$9,497,281$4,469,603$68,452,060
94$87,161,138$9,861,295$4,517,981$75,207,088
95$95,947,028$10,239,952$4,564,787$82,643,618
96$105,625,786$10,633,870$4,609,868$90,830,904
97$116,288,380$11,043,694$4,653,062$99,845,254
98$128,035,054$11,470,094$4,694,200$109,770,751
99$140,976,275$11,913,775$4,733,101$120,700,042
100$155,233,773$12,375,467$4,769,577$132,735,216