Can I retire at age 56 with 2,370,000?

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 $2,370,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.8%
1 years$195,712$193,969$192,268$190,608$188,987$186,780
2 years$96,887$95,083$93,334$91,639$89,994$87,773
3 years$63,950$62,138$60,393$58,714$57,096$54,929
4 years$47,484$45,678$43,951$42,300$40,721$38,626
5 years$37,608$35,812$34,108$32,490$30,956$28,938
6 years$31,025$29,243$27,564$25,983$24,494$22,556
7 years$26,326$24,558$22,906$21,362$19,920$18,063
8 years$22,802$21,051$19,426$17,920$16,526$14,749
9 years$20,064$18,329$16,732$15,264$13,917$12,220
10 years$17,874$16,156$14,587$13,158$11,858$10,239
11 years$16,083$14,383$12,842$11,451$10,198$8,657
12 years$14,592$12,909$11,397$10,044$8,838$7,371
13 years$13,332$11,666$10,183$8,867$7,707$6,314
14 years$12,252$10,604$9,149$7,872$6,756$5,435
15 years$11,317$9,687$8,260$7,020$5,948$4,697
16 years$10,500$8,888$7,489$6,286$5,257$4,073
17 years$9,780$8,185$6,815$5,648$4,661$3,542
18 years$9,140$7,564$6,221$5,090$4,145$3,088
19 years$8,569$7,010$5,695$4,599$3,694$2,698
20 years$8,055$6,514$5,227$4,165$3,300$2,362
21 years$7,591$6,067$4,808$3,780$2,953$2,071
22 years$7,169$5,664$4,431$3,437$2,647$1,818
23 years$6,785$5,297$4,091$3,130$2,376$1,598
24 years$6,433$4,963$3,784$2,855$2,136$1,406
25 years$6,110$4,658$3,504$2,607$1,922$1,238
26 years$5,813$4,377$3,250$2,384$1,731$1,091
27 years$5,537$4,120$3,018$2,182$1,561$962
28 years$5,282$3,882$2,806$1,999$1,408$849
29 years$5,045$3,662$2,611$1,833$1,272$750
30 years$4,824$3,458$2,432$1,683$1,149$662
31 years$4,618$3,269$2,267$1,545$1,039$585
32 years$4,425$3,094$2,115$1,420$940$518
33 years$4,244$2,930$1,975$1,306$850$458
34 years$4,074$2,777$1,845$1,202$770$405
35 years$3,915$2,634$1,725$1,106$697$358
36 years$3,764$2,500$1,614$1,019$632$317
37 years$3,622$2,374$1,511$939$573$281
38 years$3,488$2,256$1,415$865$519$248
39 years$3,361$2,145$1,325$798$471$220
40 years$3,240$2,041$1,242$736$427$195
41 years$3,126$1,943$1,165$679$387$173
42 years$3,017$1,851$1,093$626$352$153
43 years$2,914$1,763$1,025$578$319$135
44 years$2,816$1,681$963$534$290$120
45 years$2,722$1,603$904$493$263$106
46 years$2,633$1,529$849$456$239$94
47 years$2,548$1,459$797$421$217$83
48 years$2,466$1,393$749$389$197$74
49 years$2,388$1,330$704$359$179$66
50 years$2,314$1,271$662$332$162$58

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $2,370,000, adding $3,518 every year, while hoping to spend $55,639 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: 69/10/21 Blend
55$2,370,000$2,370,000$2,370,000$2,370,000
56$2,615,369$2,489,759$2,453,024$2,781,943
57$2,822,937$2,552,558$2,476,001$2,956,520
58$3,049,812$2,616,569$2,497,882$3,140,649
59$3,297,905$2,681,793$2,518,574$3,340,785
60$3,569,320$2,748,229$2,537,974$3,558,506
61$3,866,372$2,815,873$2,555,978$3,795,550
62$4,191,612$2,884,722$2,572,473$4,053,833
63$4,547,850$2,954,766$2,587,344$4,335,463
64$4,938,177$3,025,996$2,600,467$4,642,765
65$5,366,001$3,098,399$2,611,712$4,978,300
66$5,835,073$3,171,961$2,620,944$5,344,890
67$6,349,525$3,246,662$2,628,021$5,745,644
68$6,913,908$3,322,480$2,632,791$6,183,987
69$7,533,235$3,399,390$2,635,098$6,663,696
70$8,213,029$3,477,363$2,634,777$7,188,930
71$8,959,370$3,556,367$2,631,655$7,764,272
72$9,778,959$3,636,362$2,625,549$8,394,775
73$10,679,178$3,717,309$2,616,269$9,086,005
74$11,668,155$3,799,158$2,603,616$9,844,095
75$12,754,849$3,881,859$2,587,379$10,675,807
76$13,949,127$3,965,353$2,567,339$11,588,589
77$15,261,859$4,049,577$2,543,267$12,590,652
78$16,705,023$4,134,460$2,514,920$13,691,042
79$18,291,813$4,219,926$2,482,047$14,899,731
80$20,036,765$4,305,890$2,444,384$16,227,705
81$21,955,898$4,392,261$2,401,653$17,687,075
82$24,066,856$4,478,939$2,353,565$19,291,184
83$26,389,084$4,565,815$2,299,818$21,054,741
84$28,944,001$4,652,771$2,240,093$22,993,952
85$31,755,212$4,739,680$2,174,059$25,126,680
86$34,848,723$4,826,403$2,101,369$27,472,611
87$38,253,188$4,912,792$2,021,660$30,053,438
88$42,000,180$4,998,686$1,934,552$32,893,070
89$46,124,488$5,083,911$1,839,649$36,017,855
90$50,664,445$5,168,281$1,736,536$39,456,833
91$55,662,287$5,251,597$1,624,780$43,242,004
92$61,164,557$5,333,641$1,503,926$47,408,638
93$67,222,537$5,414,185$1,373,503$51,995,602
94$73,892,736$5,492,980$1,233,015$57,045,731
95$81,237,420$5,569,761$1,081,946$62,606,233
96$89,325,202$5,644,244$919,756$68,729,132
97$98,231,687$5,716,127$745,883$75,471,763
98$108,040,186$5,785,084$559,737$82,897,314
99$118,842,501$5,850,769$360,704$91,075,419
100$130,739,792$5,912,813$148,144$100,082,821