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%13.1%
1 years$194,887$193,151$191,457$189,804$188,190$185,761
2 years$96,479$94,682$92,940$91,252$89,614$87,171
3 years$63,680$61,876$60,139$58,466$56,855$54,473
4 years$47,284$45,485$43,765$42,121$40,549$38,247
5 years$37,449$35,661$33,964$32,353$30,825$28,609
6 years$30,895$29,120$27,448$25,873$24,391$22,264
7 years$26,215$24,455$22,809$21,272$19,836$17,799
8 years$22,706$20,962$19,344$17,844$16,456$14,508
9 years$19,979$18,251$16,661$15,199$13,858$11,999
10 years$17,798$16,088$14,525$13,102$11,808$10,036
11 years$16,015$14,322$12,788$11,403$10,155$8,469
12 years$14,531$12,855$11,349$10,002$8,800$7,198
13 years$13,275$11,617$10,140$8,830$7,674$6,153
14 years$12,200$10,559$9,110$7,838$6,727$5,286
15 years$11,269$9,646$8,226$6,990$5,923$4,559
16 years$10,456$8,850$7,458$6,259$5,235$3,945
17 years$9,738$8,151$6,786$5,624$4,642$3,424
18 years$9,102$7,532$6,195$5,068$4,127$2,979
19 years$8,532$6,980$5,671$4,580$3,679$2,597
20 years$8,021$6,486$5,205$4,148$3,286$2,268
21 years$7,559$6,042$4,787$3,764$2,940$1,984
22 years$7,139$5,640$4,412$3,423$2,636$1,738
23 years$6,756$5,275$4,074$3,117$2,366$1,524
24 years$6,406$4,942$3,768$2,843$2,127$1,338
25 years$6,084$4,638$3,490$2,596$1,914$1,175
26 years$5,788$4,359$3,236$2,374$1,724$1,033
27 years$5,514$4,102$3,005$2,173$1,554$909
28 years$5,260$3,866$2,794$1,991$1,402$800
29 years$5,024$3,647$2,600$1,826$1,266$705
30 years$4,804$3,444$2,422$1,675$1,144$621
31 years$4,599$3,256$2,258$1,539$1,034$548
32 years$4,407$3,080$2,106$1,414$936$483
33 years$4,226$2,917$1,967$1,300$847$426
34 years$4,057$2,765$1,838$1,197$767$376
35 years$3,898$2,622$1,718$1,101$694$332
36 years$3,748$2,489$1,607$1,014$629$293
37 years$3,607$2,364$1,504$935$570$259
38 years$3,473$2,247$1,409$862$517$228
39 years$3,346$2,136$1,320$794$469$202
40 years$3,226$2,033$1,237$733$425$178
41 years$3,113$1,935$1,160$676$386$157
42 years$3,005$1,843$1,088$624$350$139
43 years$2,902$1,756$1,021$576$318$123
44 years$2,804$1,674$958$532$288$109
45 years$2,711$1,596$900$491$262$96
46 years$2,622$1,522$845$454$238$85
47 years$2,537$1,453$794$419$216$75
48 years$2,456$1,387$746$387$196$66
49 years$2,378$1,324$701$358$178$59
50 years$2,304$1,265$659$331$162$52

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 $2,098 every year, while hoping to spend $57,323 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: 81/14/5 Blend
55$2,360,000$2,360,000$2,360,000$2,360,000
56$2,602,884$2,477,804$2,441,224$2,813,230
57$2,807,387$2,538,225$2,462,014$3,011,478
58$3,030,828$2,599,686$2,481,579$3,221,138
59$3,275,078$2,662,176$2,499,818$3,449,461
60$3,542,198$2,725,685$2,516,623$3,698,279
61$3,834,455$2,790,196$2,531,883$3,969,609
62$4,154,348$2,855,694$2,545,479$4,265,671
63$4,504,626$2,922,157$2,557,287$4,588,912
64$4,888,318$2,989,564$2,567,177$4,942,024
65$5,308,760$3,057,886$2,575,011$5,327,975
66$5,769,625$3,127,093$2,580,645$5,750,032
67$6,274,958$3,197,152$2,583,928$6,211,792
68$6,829,215$3,268,024$2,584,701$6,717,220
69$7,437,304$3,339,666$2,582,798$7,270,682
70$8,104,631$3,412,032$2,578,043$7,876,987
71$8,837,150$3,485,068$2,570,254$8,541,434
72$9,641,419$3,558,717$2,559,238$9,269,859
73$10,524,666$3,632,915$2,544,794$10,068,691
74$11,494,847$3,707,594$2,526,710$10,945,015
75$12,560,732$3,782,677$2,504,766$11,906,635
76$13,731,980$3,858,081$2,478,729$12,962,149
77$15,019,232$3,933,717$2,448,356$14,121,029
78$16,434,211$4,009,486$2,413,393$15,393,714
79$17,989,833$4,085,284$2,373,574$16,791,704
80$19,700,328$4,160,994$2,328,620$18,327,667
81$21,581,372$4,236,493$2,278,240$20,015,567
82$23,650,238$4,311,648$2,222,127$21,870,784
83$25,925,957$4,386,313$2,159,963$23,910,270
84$28,429,496$4,460,334$2,091,414$26,152,700
85$31,183,958$4,533,544$2,016,129$28,618,653
86$34,214,796$4,605,762$1,933,744$31,330,806
87$37,550,057$4,676,797$1,843,877$34,314,146
88$41,220,644$4,746,440$1,746,127$37,596,205
89$45,260,605$4,814,471$1,640,078$41,207,325
90$49,707,460$4,880,653$1,525,293$45,180,936
91$54,602,547$4,944,731$1,401,317$49,553,880
92$59,991,418$5,006,434$1,267,672$54,366,753
93$65,924,265$5,065,473$1,123,862$59,664,289
94$72,456,395$5,121,536$969,366$65,495,783
95$79,648,750$5,174,293$803,642$71,915,559
96$87,568,482$5,223,393$626,124$78,983,476
97$96,289,586$5,268,459$436,218$86,765,501
98$105,893,601$5,309,090$233,308$95,334,323
99$116,470,373$5,344,860$16,749$104,770,049
100$128,118,908$5,375,315$0$115,160,950