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%18.7%
1 years$198,190$196,424$194,702$193,021$191,379$184,663
2 years$98,114$96,286$94,516$92,799$91,133$84,436
3 years$64,759$62,924$61,158$59,457$57,819$51,353
4 years$48,086$46,256$44,507$42,835$41,237$35,051
5 years$38,084$36,265$34,539$32,902$31,347$25,458
6 years$31,418$29,613$27,913$26,312$24,804$19,216
7 years$26,659$24,869$23,196$21,632$20,172$14,884
8 years$23,091$21,318$19,672$18,147$16,735$11,742
9 years$20,318$18,561$16,943$15,457$14,093$9,389
10 years$18,100$16,360$14,772$13,324$12,008$7,585
11 years$16,287$14,565$13,005$11,596$10,327$6,176
12 years$14,777$13,072$11,541$10,171$8,950$5,061
13 years$13,500$11,814$10,311$8,980$7,804$4,167
14 years$12,407$10,738$9,265$7,971$6,841$3,445
15 years$11,460$9,810$8,365$7,109$6,023$2,858
16 years$10,633$9,000$7,584$6,365$5,324$2,376
17 years$9,904$8,289$6,901$5,719$4,720$1,981
18 years$9,256$7,659$6,300$5,154$4,197$1,654
19 years$8,677$7,099$5,767$4,657$3,741$1,383
20 years$8,157$6,596$5,293$4,218$3,341$1,158
21 years$7,687$6,144$4,868$3,828$2,990$970
22 years$7,260$5,735$4,487$3,481$2,680$814
23 years$6,871$5,364$4,143$3,170$2,406$683
24 years$6,515$5,026$3,832$2,891$2,163$574
25 years$6,188$4,717$3,549$2,640$1,946$482
26 years$5,886$4,433$3,291$2,414$1,753$405
27 years$5,607$4,172$3,056$2,210$1,580$341
28 years$5,349$3,931$2,841$2,025$1,426$287
29 years$5,109$3,708$2,644$1,857$1,288$241
30 years$4,885$3,502$2,463$1,704$1,163$203
31 years$4,677$3,311$2,296$1,565$1,052$171
32 years$4,481$3,133$2,142$1,438$951$144
33 years$4,298$2,967$2,000$1,323$861$121
34 years$4,126$2,812$1,869$1,217$780$102
35 years$3,964$2,667$1,747$1,120$706$86
36 years$3,812$2,531$1,634$1,032$640$72
37 years$3,668$2,404$1,530$951$580$61
38 years$3,532$2,285$1,433$876$526$51
39 years$3,403$2,173$1,342$808$477$43
40 years$3,281$2,067$1,258$745$432$36
41 years$3,165$1,968$1,180$687$392$31
42 years$3,056$1,874$1,107$634$356$26
43 years$2,951$1,785$1,038$586$323$22
44 years$2,852$1,702$975$541$293$18
45 years$2,757$1,623$915$499$266$15
46 years$2,666$1,548$860$461$242$13
47 years$2,580$1,477$808$426$219$11
48 years$2,498$1,410$759$394$199$9
49 years$2,419$1,347$713$364$181$8
50 years$2,343$1,287$671$336$164$7

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 $2,237 every year, while hoping to spend $31,451 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: 67/18/15 Blend
55$2,400,000$2,400,000$2,400,000$2,400,000
56$2,647,107$2,519,907$2,482,707$2,814,966
57$2,883,649$2,609,919$2,532,415$3,017,256
58$3,143,263$2,703,288$2,582,733$3,234,457
59$3,428,271$2,800,144$2,633,649$3,471,160
60$3,741,228$2,900,624$2,685,150$3,729,278
61$4,084,950$3,004,871$2,737,219$4,010,913
62$4,462,538$3,113,033$2,789,839$4,318,380
63$4,877,409$3,225,264$2,842,991$4,654,228
64$5,333,327$3,341,725$2,896,654$5,021,264
65$5,834,440$3,462,582$2,950,804$5,422,578
66$6,385,315$3,588,010$3,005,418$5,861,572
67$6,990,985$3,718,191$3,060,468$6,341,992
68$7,656,997$3,853,314$3,115,925$6,867,964
69$8,389,459$3,993,575$3,171,757$7,444,031
70$9,195,102$4,139,179$3,227,930$8,075,197
71$10,081,344$4,290,340$3,284,407$8,766,973
72$11,056,356$4,447,281$3,341,149$9,525,426
73$12,129,140$4,610,233$3,398,113$10,357,243
74$13,309,616$4,779,439$3,455,254$11,269,786
75$14,608,716$4,955,150$3,512,523$12,271,166
76$16,038,481$5,137,629$3,569,869$13,370,316
77$17,612,182$5,327,148$3,627,236$14,577,077
78$19,344,440$5,523,995$3,684,564$15,902,289
79$21,251,368$5,728,465$3,741,791$17,357,896
80$23,350,716$5,940,868$3,798,850$18,957,051
81$25,662,046$6,161,528$3,855,669$20,714,249
82$28,206,914$6,390,782$3,912,173$22,645,456
83$31,009,069$6,628,980$3,968,280$24,768,262
84$34,094,682$6,876,489$4,023,906$27,102,046
85$37,492,594$7,133,690$4,078,961$29,668,160
86$41,234,580$7,400,982$4,133,347$32,490,126
87$45,355,657$7,678,781$4,186,965$35,593,861
88$49,894,412$7,967,519$4,239,706$39,007,920
89$54,893,363$8,267,648$4,291,457$42,763,765
90$60,399,362$8,579,639$4,342,097$46,896,060
91$66,464,041$8,903,985$4,391,501$51,442,997
92$73,144,291$9,241,198$4,439,534$56,446,661
93$80,502,805$9,591,814$4,486,055$61,953,418
94$88,608,668$9,956,390$4,530,915$68,014,359
95$97,538,009$10,335,509$4,573,957$74,685,779
96$107,374,717$10,729,780$4,615,016$82,029,707
97$118,211,235$11,139,837$4,653,916$90,114,490
98$130,149,435$11,566,342$4,690,476$99,015,440
99$143,301,570$12,009,986$4,724,500$108,815,540
100$157,791,346$12,471,491$4,755,787$119,606,232