Can I retire at age 56 with 2,380,000?

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 $2,380,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.2%
1 years$196,538$194,788$193,080$191,412$189,785$188,037
2 years$97,296$95,484$93,728$92,025$90,374$88,613
3 years$64,220$62,400$60,648$58,961$57,337$55,618
4 years$47,685$45,871$44,136$42,478$40,893$39,229
5 years$37,766$35,963$34,252$32,627$31,086$29,482
6 years$31,156$29,367$27,680$26,092$24,597$23,054
7 years$26,437$24,662$23,003$21,452$20,004$18,523
8 years$22,899$21,140$19,508$17,996$16,596$15,177
9 years$20,148$18,406$16,802$15,328$13,976$12,619
10 years$17,949$16,224$14,649$13,213$11,908$10,612
11 years$16,151$14,443$12,896$11,499$10,241$9,005
12 years$14,654$12,964$11,445$10,086$8,875$7,697
13 years$13,388$11,715$10,226$8,905$7,739$6,619
14 years$12,304$10,649$9,188$7,905$6,784$5,720
15 years$11,365$9,728$8,295$7,050$5,973$4,963
16 years$10,544$8,925$7,521$6,312$5,279$4,322
17 years$9,821$8,220$6,844$5,671$4,681$3,775
18 years$9,179$7,595$6,247$5,111$4,162$3,305
19 years$8,605$7,039$5,719$4,618$3,710$2,900
20 years$8,089$6,541$5,249$4,183$3,314$2,550
21 years$7,623$6,093$4,828$3,796$2,965$2,245
22 years$7,199$5,688$4,450$3,452$2,658$1,980
23 years$6,814$5,319$4,108$3,143$2,386$1,749
24 years$6,460$4,984$3,800$2,867$2,145$1,546
25 years$6,136$4,677$3,519$2,618$1,930$1,368
26 years$5,837$4,396$3,264$2,394$1,738$1,211
27 years$5,561$4,137$3,031$2,191$1,567$1,073
28 years$5,305$3,898$2,818$2,008$1,414$952
29 years$5,066$3,678$2,622$1,841$1,277$844
30 years$4,845$3,473$2,442$1,690$1,154$750
31 years$4,638$3,283$2,277$1,552$1,043$666
32 years$4,444$3,107$2,124$1,426$944$591
33 years$4,262$2,942$1,983$1,311$854$526
34 years$4,092$2,788$1,853$1,207$773$467
35 years$3,931$2,645$1,733$1,111$700$416
36 years$3,780$2,510$1,621$1,023$634$370
37 years$3,637$2,384$1,517$943$575$329
38 years$3,502$2,266$1,421$869$521$293
39 years$3,375$2,155$1,331$801$473$260
40 years$3,254$2,050$1,248$739$429$232
41 years$3,139$1,951$1,170$682$389$206
42 years$3,030$1,858$1,097$629$353$184
43 years$2,926$1,771$1,030$581$320$164
44 years$2,828$1,688$967$536$291$146
45 years$2,734$1,609$908$495$264$130
46 years$2,644$1,535$852$457$240$116
47 years$2,559$1,465$801$423$218$103
48 years$2,477$1,399$753$391$198$92
49 years$2,399$1,336$707$361$180$82
50 years$2,324$1,276$665$334$163$73

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $2,380,000, adding $2,047 every year, while hoping to spend $59,836 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: 76/9/15 Blend
55$2,380,000$2,380,000$2,380,000$2,380,000
56$2,624,871$2,498,731$2,461,841$2,815,751
57$2,828,943$2,557,504$2,480,648$3,000,849
58$3,051,825$2,617,152$2,498,079$3,196,025
59$3,295,372$2,677,653$2,514,026$3,408,364
60$3,561,627$2,738,985$2,528,373$3,639,558
61$3,852,839$2,801,121$2,540,999$3,891,469
62$4,171,485$2,864,032$2,551,779$4,166,149
63$4,520,290$2,927,684$2,560,577$4,465,858
64$4,902,258$2,992,038$2,567,255$4,793,084
65$5,320,695$3,057,055$2,571,665$5,150,572
66$5,779,242$3,122,687$2,573,652$5,541,343
67$6,281,910$3,188,884$2,573,054$5,968,725
68$6,833,116$3,255,590$2,569,702$6,436,386
69$7,437,723$3,322,744$2,563,417$6,948,368
70$8,101,091$3,390,278$2,554,012$7,509,123
71$8,829,121$3,458,121$2,541,290$8,123,556
72$9,628,315$3,526,192$2,525,046$8,797,074
73$10,505,832$3,594,405$2,505,065$9,535,633
74$11,469,563$3,662,666$2,481,120$10,345,796
75$12,528,196$3,730,875$2,452,976$11,234,794
76$13,691,305$3,798,921$2,420,384$12,210,598
77$14,969,437$3,866,686$2,383,084$13,281,988
78$16,374,208$3,934,042$2,340,807$14,458,641
79$17,918,420$4,000,853$2,293,266$15,751,222
80$19,616,173$4,066,969$2,240,165$17,171,479
81$21,483,005$4,132,233$2,181,193$18,732,364
82$23,536,032$4,196,473$2,116,024$20,448,144
83$25,794,114$4,259,506$2,044,317$22,334,546
84$28,278,028$4,321,136$1,965,716$24,408,897
85$31,010,668$4,381,153$1,879,848$26,690,295
86$34,017,258$4,439,332$1,786,325$29,199,784
87$37,325,590$4,495,431$1,684,739$31,960,556
88$40,966,288$4,549,195$1,574,665$34,998,167
89$44,973,092$4,600,348$1,455,659$38,340,781
90$49,383,179$4,648,597$1,327,255$42,019,437
91$54,237,514$4,693,629$1,188,969$46,068,339
92$59,581,235$4,735,111$1,040,294$50,525,181
93$65,464,078$4,772,688$880,701$55,431,502
94$71,940,845$4,805,981$709,636$60,833,081
95$79,071,925$4,834,588$526,522$66,780,366
96$86,923,858$4,858,080$330,757$73,328,953
97$95,569,966$4,876,000$121,712$80,540,110
98$105,091,043$4,887,865$0$88,481,358
99$115,576,118$4,893,158$0$97,243,330
100$127,123,292$4,891,333$0$106,913,645