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%15.6%
1 years$194,061$192,332$190,646$189,000$187,392$183,085
2 years$96,070$94,280$92,546$90,865$89,234$84,919
3 years$63,410$61,613$59,884$58,218$56,614$52,425
4 years$47,084$45,292$43,580$41,943$40,378$36,347
5 years$37,290$35,510$33,820$32,216$30,694$26,834
6 years$30,764$28,996$27,331$25,764$24,287$20,601
7 years$26,103$24,351$22,713$21,182$19,752$16,240
8 years$22,610$20,873$19,262$17,769$16,386$13,047
9 years$19,894$18,174$16,590$15,135$13,800$10,631
10 years$17,723$16,020$14,464$13,047$11,758$8,757
11 years$15,948$14,261$12,734$11,354$10,112$7,274
12 years$14,469$12,800$11,301$9,959$8,763$6,083
13 years$13,219$11,568$10,097$8,793$7,642$5,115
14 years$12,149$10,515$9,072$7,805$6,699$4,321
15 years$11,222$9,605$8,191$6,961$5,898$3,663
16 years$10,411$8,813$7,426$6,233$5,213$3,115
17 years$9,697$8,116$6,757$5,600$4,622$2,655
18 years$9,063$7,500$6,169$5,047$4,110$2,268
19 years$8,496$6,951$5,647$4,560$3,663$1,942
20 years$7,987$6,459$5,183$4,130$3,272$1,664
21 years$7,527$6,016$4,767$3,748$2,928$1,428
22 years$7,109$5,616$4,394$3,408$2,624$1,227
23 years$6,728$5,252$4,057$3,104$2,356$1,056
24 years$6,379$4,921$3,752$2,831$2,117$909
25 years$6,059$4,618$3,475$2,585$1,905$783
26 years$5,763$4,340$3,223$2,364$1,716$675
27 years$5,491$4,085$2,993$2,164$1,547$582
28 years$5,238$3,849$2,782$1,982$1,396$502
29 years$5,003$3,631$2,589$1,818$1,261$433
30 years$4,784$3,429$2,411$1,668$1,139$374
31 years$4,579$3,242$2,248$1,532$1,030$323
32 years$4,388$3,067$2,098$1,408$932$279
33 years$4,209$2,905$1,958$1,295$843$241
34 years$4,040$2,753$1,830$1,191$763$208
35 years$3,882$2,611$1,711$1,097$691$180
36 years$3,732$2,479$1,600$1,010$626$155
37 years$3,591$2,354$1,498$931$568$134
38 years$3,458$2,237$1,403$858$515$116
39 years$3,332$2,127$1,314$791$467$100
40 years$3,213$2,024$1,232$730$423$87
41 years$3,100$1,927$1,155$673$384$75
42 years$2,992$1,835$1,084$621$349$65
43 years$2,890$1,748$1,017$573$316$56
44 years$2,792$1,666$954$529$287$49
45 years$2,699$1,589$896$489$261$42
46 years$2,611$1,516$842$452$237$36
47 years$2,526$1,447$791$417$215$31
48 years$2,446$1,381$743$386$195$27
49 years$2,368$1,319$698$356$177$24
50 years$2,294$1,260$657$329$161$20

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 $2,712 every year, while hoping to spend $31,306 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: 36/37/27 Blend
55$2,350,000$2,350,000$2,350,000$2,350,000
56$2,592,497$2,467,947$2,431,522$2,664,705
57$2,823,623$2,555,568$2,479,669$2,806,148
58$3,077,274$2,646,432$2,528,379$2,955,703
59$3,355,715$2,740,666$2,577,639$3,116,556
60$3,661,440$2,838,401$2,627,433$3,289,743
61$3,997,199$2,939,774$2,677,743$3,476,403
62$4,366,016$3,044,927$2,728,551$3,677,787
63$4,771,228$3,154,006$2,779,835$3,895,269
64$5,216,507$3,267,167$2,831,574$4,130,359
65$5,705,902$3,384,568$2,883,742$4,384,719
66$6,243,870$3,506,378$2,936,314$4,660,176
67$6,835,323$3,632,769$2,989,259$4,958,736
68$7,485,674$3,763,923$3,042,547$5,282,609
69$8,200,885$3,900,028$3,096,145$5,634,225
70$8,987,525$4,041,279$3,150,016$6,016,254
71$9,852,833$4,187,881$3,204,121$6,431,637
72$10,804,781$4,340,047$3,258,419$6,883,610
73$11,852,158$4,497,999$3,312,865$7,375,731
74$13,004,644$4,661,966$3,367,412$7,911,917
75$14,272,906$4,832,191$3,422,008$8,496,479
76$15,668,697$5,008,922$3,476,599$9,134,163
77$17,204,967$5,192,423$3,531,128$9,830,191
78$18,895,985$5,382,963$3,585,533$10,590,312
79$20,757,475$5,580,828$3,639,748$11,420,856
80$22,806,761$5,786,312$3,693,703$12,328,792
81$25,062,933$5,999,724$3,747,324$13,321,792
82$27,547,026$6,221,384$3,800,533$14,408,303
83$30,282,218$6,451,627$3,853,247$15,597,627
84$33,294,049$6,690,802$3,905,376$16,900,009
85$36,610,663$6,939,272$3,956,827$18,326,727
86$40,263,072$7,197,417$4,007,501$19,890,204
87$44,285,447$7,465,632$4,057,294$21,604,122
88$48,715,443$7,744,329$4,106,095$23,483,549
89$53,594,555$8,033,938$4,153,786$25,545,079
90$58,968,506$8,334,908$4,200,244$27,806,993
91$64,887,680$8,647,704$4,245,338$30,289,424
92$71,407,598$8,972,816$4,288,932$33,014,548
93$78,589,441$9,310,752$4,330,879$36,006,795
94$86,500,627$9,662,042$4,371,026$39,293,075
95$95,215,449$10,027,240$4,409,213$42,903,031
96$104,815,773$10,406,923$4,445,270$46,869,317
97$115,391,813$10,801,693$4,479,018$51,227,907
98$127,042,981$11,212,179$4,510,268$56,018,433
99$139,878,826$11,639,037$4,538,823$61,284,553
100$154,020,067$12,082,951$4,564,475$67,074,367