Can I retire at age 56 with 2,360,000?

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 $2,360,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.2%
1 years$194,887$193,151$191,457$189,804$188,190$187,239
2 years$96,479$94,682$92,940$91,252$89,614$88,655
3 years$63,680$61,876$60,139$58,466$56,855$55,917
4 years$47,284$45,485$43,765$42,121$40,549$39,639
5 years$37,449$35,661$33,964$32,353$30,825$29,946
6 years$30,895$29,120$27,448$25,873$24,391$23,543
7 years$26,215$24,455$22,809$21,272$19,836$19,021
8 years$22,706$20,962$19,344$17,844$16,456$15,674
9 years$19,979$18,251$16,661$15,199$13,858$13,108
10 years$17,798$16,088$14,525$13,102$11,808$11,090
11 years$16,015$14,322$12,788$11,403$10,155$9,469
12 years$14,531$12,855$11,349$10,002$8,800$8,144
13 years$13,275$11,617$10,140$8,830$7,674$7,048
14 years$12,200$10,559$9,110$7,838$6,727$6,131
15 years$11,269$9,646$8,226$6,990$5,923$5,356
16 years$10,456$8,850$7,458$6,259$5,235$4,696
17 years$9,738$8,151$6,786$5,624$4,642$4,129
18 years$9,102$7,532$6,195$5,068$4,127$3,641
19 years$8,532$6,980$5,671$4,580$3,679$3,218
20 years$8,021$6,486$5,205$4,148$3,286$2,850
21 years$7,559$6,042$4,787$3,764$2,940$2,528
22 years$7,139$5,640$4,412$3,423$2,636$2,246
23 years$6,756$5,275$4,074$3,117$2,366$1,999
24 years$6,406$4,942$3,768$2,843$2,127$1,780
25 years$6,084$4,638$3,490$2,596$1,914$1,587
26 years$5,788$4,359$3,236$2,374$1,724$1,417
27 years$5,514$4,102$3,005$2,173$1,554$1,265
28 years$5,260$3,866$2,794$1,991$1,402$1,131
29 years$5,024$3,647$2,600$1,826$1,266$1,012
30 years$4,804$3,444$2,422$1,675$1,144$905
31 years$4,599$3,256$2,258$1,539$1,034$811
32 years$4,407$3,080$2,106$1,414$936$726
33 years$4,226$2,917$1,967$1,300$847$651
34 years$4,057$2,765$1,838$1,197$767$583
35 years$3,898$2,622$1,718$1,101$694$523
36 years$3,748$2,489$1,607$1,014$629$469
37 years$3,607$2,364$1,504$935$570$421
38 years$3,473$2,247$1,409$862$517$378
39 years$3,346$2,136$1,320$794$469$339
40 years$3,226$2,033$1,237$733$425$305
41 years$3,113$1,935$1,160$676$386$273
42 years$3,005$1,843$1,088$624$350$246
43 years$2,902$1,756$1,021$576$318$221
44 years$2,804$1,674$958$532$288$198
45 years$2,711$1,596$900$491$262$178
46 years$2,622$1,522$845$454$238$160
47 years$2,537$1,453$794$419$216$144
48 years$2,456$1,387$746$387$196$129
49 years$2,378$1,324$701$358$178$116
50 years$2,304$1,265$659$331$162$104

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $2,360,000, adding $3,162 every year, while hoping to spend $55,373 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: 60/12/28 Blend
55$2,360,000$2,360,000$2,360,000$2,360,000
56$2,603,982$2,478,902$2,442,322$2,740,306
57$2,810,671$2,541,451$2,465,223$2,896,225
58$3,036,587$2,605,210$2,487,036$3,060,080
59$3,283,633$2,670,179$2,507,665$3,237,721
60$3,553,902$2,736,356$2,527,010$3,430,503
61$3,849,702$2,803,740$2,544,967$3,639,920
62$4,173,572$2,872,324$2,561,424$3,867,620
63$4,528,311$2,942,101$2,576,266$4,115,416
64$4,916,997$3,013,063$2,589,369$4,385,311
65$5,343,023$3,085,195$2,600,605$4,679,507
66$5,810,125$3,158,484$2,609,839$5,000,435
67$6,322,418$3,232,910$2,616,930$5,350,771
68$6,884,435$3,308,452$2,621,727$5,733,468
69$7,501,166$3,385,086$2,624,074$6,151,776
70$8,178,112$3,462,782$2,623,807$6,609,282
71$8,921,329$3,541,508$2,620,754$7,109,936
72$9,737,489$3,621,226$2,614,734$7,658,092
73$10,633,942$3,701,895$2,605,557$8,258,552
74$11,618,785$3,783,469$2,593,024$8,916,605
75$12,700,938$3,865,896$2,576,927$9,638,083
76$13,890,227$3,949,118$2,557,047$10,429,412
77$15,197,478$4,033,073$2,533,156$11,297,676
78$16,634,617$4,117,690$2,505,013$12,250,685
79$18,214,786$4,202,894$2,472,369$13,297,043
80$19,952,459$4,288,602$2,434,958$14,446,237
81$21,863,588$4,374,721$2,392,508$15,708,721
82$23,965,746$4,461,154$2,344,728$17,096,020
83$26,278,294$4,547,792$2,291,318$18,620,835
84$28,822,565$4,634,519$2,231,963$20,297,166
85$31,622,064$4,721,208$2,166,331$22,140,442
86$34,702,689$4,807,722$2,094,078$24,167,672
87$38,092,976$4,893,913$2,014,842$26,397,599
88$41,824,367$4,979,622$1,928,246$28,850,884
89$45,931,505$5,064,677$1,833,896$31,550,299
90$50,452,565$5,148,892$1,731,378$34,520,941
91$55,429,609$5,232,070$1,620,260$37,790,472
92$60,908,983$5,313,995$1,500,094$41,389,381
93$66,941,759$5,394,441$1,370,406$45,351,270
94$73,584,210$5,473,160$1,230,706$49,713,174
95$80,898,344$5,549,889$1,080,480$54,515,913
96$88,952,489$5,624,348$919,190$59,804,474
97$97,821,936$5,696,234$746,276$65,628,439
98$107,589,650$5,765,226$561,152$72,042,455
99$118,347,052$5,830,979$363,208$79,106,751
100$130,194,881$5,893,127$151,806$86,887,706