Can I retire at age 56 with 2,400,000?

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 $2,400,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.9%
1 years$198,190$196,424$194,702$193,021$191,379$189,855
2 years$98,114$96,286$94,516$92,799$91,133$89,597
3 years$64,759$62,924$61,158$59,457$57,819$56,317
4 years$48,086$46,256$44,507$42,835$41,237$39,782
5 years$38,084$36,265$34,539$32,902$31,347$29,944
6 years$31,418$29,613$27,913$26,312$24,804$23,454
7 years$26,659$24,869$23,196$21,632$20,172$18,876
8 years$23,091$21,318$19,672$18,147$16,735$15,492
9 years$20,318$18,561$16,943$15,457$14,093$12,904
10 years$18,100$16,360$14,772$13,324$12,008$10,871
11 years$16,287$14,565$13,005$11,596$10,327$9,242
12 years$14,777$13,072$11,541$10,171$8,950$7,915
13 years$13,500$11,814$10,311$8,980$7,804$6,819
14 years$12,407$10,738$9,265$7,971$6,841$5,904
15 years$11,460$9,810$8,365$7,109$6,023$5,134
16 years$10,633$9,000$7,584$6,365$5,324$4,480
17 years$9,904$8,289$6,901$5,719$4,720$3,921
18 years$9,256$7,659$6,300$5,154$4,197$3,440
19 years$8,677$7,099$5,767$4,657$3,741$3,025
20 years$8,157$6,596$5,293$4,218$3,341$2,666
21 years$7,687$6,144$4,868$3,828$2,990$2,353
22 years$7,260$5,735$4,487$3,481$2,680$2,079
23 years$6,871$5,364$4,143$3,170$2,406$1,840
24 years$6,515$5,026$3,832$2,891$2,163$1,630
25 years$6,188$4,717$3,549$2,640$1,946$1,446
26 years$5,886$4,433$3,291$2,414$1,753$1,283
27 years$5,607$4,172$3,056$2,210$1,580$1,140
28 years$5,349$3,931$2,841$2,025$1,426$1,013
29 years$5,109$3,708$2,644$1,857$1,288$901
30 years$4,885$3,502$2,463$1,704$1,163$802
31 years$4,677$3,311$2,296$1,565$1,052$714
32 years$4,481$3,133$2,142$1,438$951$636
33 years$4,298$2,967$2,000$1,323$861$567
34 years$4,126$2,812$1,869$1,217$780$505
35 years$3,964$2,667$1,747$1,120$706$450
36 years$3,812$2,531$1,634$1,032$640$402
37 years$3,668$2,404$1,530$951$580$358
38 years$3,532$2,285$1,433$876$526$320
39 years$3,403$2,173$1,342$808$477$285
40 years$3,281$2,067$1,258$745$432$254
41 years$3,165$1,968$1,180$687$392$227
42 years$3,056$1,874$1,107$634$356$203
43 years$2,951$1,785$1,038$586$323$181
44 years$2,852$1,702$975$541$293$162
45 years$2,757$1,623$915$499$266$144
46 years$2,666$1,548$860$461$242$129
47 years$2,580$1,477$808$426$219$115
48 years$2,498$1,410$759$394$199$103
49 years$2,419$1,347$713$364$181$92
50 years$2,343$1,287$671$336$164$82

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $2,400,000, adding $3,666 every year, while hoping to spend $43,590 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: 42/46/12 Blend
55$2,400,000$2,400,000$2,400,000$2,400,000
56$2,648,581$2,521,381$2,484,181$2,750,363
57$2,872,357$2,598,550$2,521,022$2,899,222
58$3,117,497$2,678,038$2,557,636$3,055,681
59$3,386,135$2,759,915$2,593,969$3,224,137
60$3,680,619$2,844,249$2,629,966$3,405,702
61$4,003,537$2,931,112$2,665,564$3,601,603
62$4,357,738$3,020,577$2,700,702$3,813,185
63$4,746,363$3,112,720$2,735,310$4,041,929
64$5,172,867$3,207,619$2,769,318$4,289,464
65$5,641,059$3,305,352$2,802,650$4,557,582
66$6,155,135$3,406,002$2,835,226$4,848,255
67$6,719,715$3,509,652$2,866,963$5,163,650
68$7,339,890$3,616,389$2,897,770$5,506,156
69$8,021,267$3,726,302$2,927,555$5,878,398
70$8,770,026$3,839,480$2,956,217$6,283,269
71$9,592,972$3,956,017$2,983,653$6,723,949
72$10,497,603$4,076,010$3,009,754$7,203,943
73$11,492,180$4,199,556$3,034,402$7,727,107
74$12,585,804$4,326,756$3,057,476$8,297,688
75$13,788,502$4,457,713$3,078,848$8,920,359
76$15,111,323$4,592,535$3,098,383$9,600,270
77$16,566,438$4,731,329$3,115,938$10,343,089
78$18,167,257$4,874,207$3,131,365$11,155,059
79$19,928,559$5,021,284$3,144,507$12,043,054
80$21,866,622$5,172,678$3,155,199$13,014,648
81$23,999,387$5,328,508$3,163,267$14,078,178
82$26,346,618$5,488,899$3,168,530$15,242,832
83$28,930,095$5,653,976$3,170,798$16,518,726
84$31,773,814$5,823,871$3,169,869$17,917,006
85$34,904,217$5,998,714$3,165,534$19,449,947
86$38,350,440$6,178,644$3,157,572$21,131,075
87$42,144,586$6,363,799$3,145,752$22,975,285
88$46,322,031$6,554,322$3,129,831$24,998,991
89$50,921,754$6,750,360$3,109,557$27,220,274
90$55,986,707$6,952,062$3,084,661$29,659,052
91$61,564,220$7,159,582$3,054,866$32,337,272
92$67,706,446$7,373,077$3,019,880$35,279,112
93$74,470,853$7,592,707$2,979,395$38,511,210
94$81,920,768$7,818,638$2,933,093$42,062,916
95$90,125,972$8,051,036$2,880,636$45,966,568
96$99,163,358$8,290,074$2,821,675$50,257,795
97$109,117,661$8,535,929$2,755,842$54,975,854
98$120,082,252$8,788,778$2,682,752$60,164,001
99$132,160,020$9,048,807$2,602,003$65,869,897
100$145,464,347$9,316,203$2,513,174$72,146,057