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%16.9%
1 years$195,712$193,969$192,268$190,608$188,987$183,674
2 years$96,887$95,083$93,334$91,639$89,994$84,681
3 years$63,950$62,138$60,393$58,714$57,096$51,950
4 years$47,484$45,678$43,951$42,300$40,721$35,782
5 years$37,608$35,812$34,108$32,490$30,956$26,237
6 years$31,025$29,243$27,564$25,983$24,494$20,000
7 years$26,326$24,558$22,906$21,362$19,920$15,651
8 years$22,802$21,051$19,426$17,920$16,526$12,479
9 years$20,064$18,329$16,732$15,264$13,917$10,088
10 years$17,874$16,156$14,587$13,158$11,858$8,243
11 years$16,083$14,383$12,842$11,451$10,198$6,790
12 years$14,592$12,909$11,397$10,044$8,838$5,631
13 years$13,332$11,666$10,183$8,867$7,707$4,694
14 years$12,252$10,604$9,149$7,872$6,756$3,929
15 years$11,317$9,687$8,260$7,020$5,948$3,301
16 years$10,500$8,888$7,489$6,286$5,257$2,781
17 years$9,780$8,185$6,815$5,648$4,661$2,348
18 years$9,140$7,564$6,221$5,090$4,145$1,987
19 years$8,569$7,010$5,695$4,599$3,694$1,684
20 years$8,055$6,514$5,227$4,165$3,300$1,430
21 years$7,591$6,067$4,808$3,780$2,953$1,215
22 years$7,169$5,664$4,431$3,437$2,647$1,033
23 years$6,785$5,297$4,091$3,130$2,376$880
24 years$6,433$4,963$3,784$2,855$2,136$749
25 years$6,110$4,658$3,504$2,607$1,922$639
26 years$5,813$4,377$3,250$2,384$1,731$545
27 years$5,537$4,120$3,018$2,182$1,561$465
28 years$5,282$3,882$2,806$1,999$1,408$397
29 years$5,045$3,662$2,611$1,833$1,272$339
30 years$4,824$3,458$2,432$1,683$1,149$289
31 years$4,618$3,269$2,267$1,545$1,039$247
32 years$4,425$3,094$2,115$1,420$940$211
33 years$4,244$2,930$1,975$1,306$850$181
34 years$4,074$2,777$1,845$1,202$770$154
35 years$3,915$2,634$1,725$1,106$697$132
36 years$3,764$2,500$1,614$1,019$632$113
37 years$3,622$2,374$1,511$939$573$96
38 years$3,488$2,256$1,415$865$519$82
39 years$3,361$2,145$1,325$798$471$70
40 years$3,240$2,041$1,242$736$427$60
41 years$3,126$1,943$1,165$679$387$52
42 years$3,017$1,851$1,093$626$352$44
43 years$2,914$1,763$1,025$578$319$38
44 years$2,816$1,681$963$534$290$32
45 years$2,722$1,603$904$493$263$28
46 years$2,633$1,529$849$456$239$24
47 years$2,548$1,459$797$421$217$20
48 years$2,466$1,393$749$389$197$17
49 years$2,388$1,330$704$359$179$15
50 years$2,314$1,271$662$332$162$13

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 $6,517 every year, while hoping to spend $54,936 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: 70/24/6 Blend
55$2,370,000$2,370,000$2,370,000$2,370,000
56$2,618,462$2,492,852$2,456,117$2,799,214
57$2,827,094$2,556,551$2,479,946$2,983,217
58$3,055,165$2,621,529$2,502,731$3,177,080
59$3,304,600$2,687,792$2,524,381$3,387,680
60$3,577,518$2,755,343$2,544,797$3,616,649
61$3,876,253$2,824,183$2,563,876$3,865,780
62$4,203,375$2,894,312$2,581,509$4,137,048
63$4,561,713$2,965,727$2,597,584$4,432,629
64$4,954,383$3,038,423$2,611,979$4,754,919
65$5,384,819$3,112,394$2,624,568$5,106,555
66$5,856,799$3,187,630$2,635,220$5,490,444
67$6,374,487$3,264,119$2,643,794$5,909,784
68$6,942,469$3,341,844$2,650,145$6,368,101
69$7,565,795$3,420,789$2,654,119$6,869,277
70$8,250,028$3,500,930$2,655,555$7,417,587
71$9,001,298$3,582,243$2,654,283$8,017,744
72$9,826,356$3,664,698$2,650,127$8,674,937
73$10,732,637$3,748,261$2,642,899$9,394,881
74$11,728,334$3,832,894$2,632,405$10,183,877
75$12,822,474$3,918,555$2,618,439$11,048,861
76$14,024,998$4,005,196$2,600,788$11,997,480
77$15,346,860$4,092,763$2,579,227$13,038,156
78$16,800,128$4,181,197$2,553,520$14,180,169
79$18,398,098$4,270,433$2,523,420$15,433,744
80$20,155,419$4,360,399$2,488,669$16,810,146
81$22,088,229$4,451,015$2,448,997$18,321,789
82$24,214,309$4,542,196$2,404,119$19,982,350
83$26,553,252$4,633,847$2,353,740$21,806,901
84$29,126,643$4,725,864$2,297,550$23,812,048
85$31,958,266$4,818,137$2,235,223$26,016,090
86$35,074,326$4,910,544$2,166,421$28,439,191
87$38,503,699$5,002,952$2,090,788$31,103,570
88$42,278,200$5,095,220$2,007,952$34,033,710
89$46,432,884$5,187,193$1,917,526$37,256,591
90$51,006,378$5,278,706$1,819,104$40,801,943
91$56,041,245$5,369,579$1,712,260$44,702,529
92$61,584,384$5,459,619$1,596,552$48,994,450
93$67,687,470$5,548,620$1,471,516$53,717,488
94$74,407,448$5,636,359$1,336,668$58,915,486
95$81,807,064$5,722,596$1,191,502$64,636,752
96$89,955,457$5,807,076$1,035,490$70,934,527
97$98,928,814$5,889,523$868,079$77,867,476
98$108,811,088$5,969,644$688,695$85,500,252
99$119,694,787$6,047,125$496,734$93,904,099
100$131,681,849$6,121,629$291,569$103,157,531