Can I retire at age 56 with 2,410,000?

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 $2,410,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.1%
1 years$199,016$197,243$195,513$193,825$192,177$190,487
2 years$98,523$96,688$94,909$93,185$91,513$89,810
3 years$65,029$63,186$61,413$59,705$58,059$56,396
4 years$48,286$46,449$44,693$43,014$41,408$39,798
5 years$38,243$36,416$34,683$33,039$31,478$29,925
6 years$31,549$29,737$28,029$26,421$24,908$23,414
7 years$26,770$24,973$23,292$21,722$20,256$18,823
8 years$23,187$21,406$19,754$18,222$16,805$15,431
9 years$20,402$18,638$17,014$15,521$14,152$12,837
10 years$18,175$16,429$14,833$13,380$12,058$10,802
11 years$16,355$14,625$13,059$11,644$10,370$9,172
12 years$14,839$13,127$11,589$10,214$8,987$7,845
13 years$13,557$11,863$10,354$9,017$7,837$6,750
14 years$12,459$10,783$9,303$8,004$6,870$5,837
15 years$11,508$9,851$8,400$7,138$6,049$5,069
16 years$10,677$9,038$7,616$6,392$5,346$4,417
17 years$9,945$8,323$6,930$5,743$4,740$3,860
18 years$9,294$7,691$6,326$5,176$4,214$3,382
19 years$8,713$7,128$5,791$4,677$3,756$2,970
20 years$8,191$6,624$5,315$4,236$3,355$2,613
21 years$7,719$6,170$4,889$3,844$3,003$2,303
22 years$7,290$5,759$4,506$3,495$2,691$2,032
23 years$6,899$5,387$4,160$3,183$2,416$1,796
24 years$6,542$5,047$3,848$2,903$2,172$1,589
25 years$6,213$4,736$3,564$2,651$1,954$1,407
26 years$5,911$4,451$3,305$2,424$1,760$1,247
27 years$5,631$4,189$3,069$2,219$1,587$1,106
28 years$5,371$3,947$2,853$2,033$1,432$981
29 years$5,130$3,724$2,655$1,864$1,293$871
30 years$4,906$3,517$2,473$1,711$1,168$774
31 years$4,696$3,325$2,306$1,571$1,056$688
32 years$4,500$3,146$2,151$1,444$955$612
33 years$4,316$2,979$2,008$1,328$865$544
34 years$4,143$2,823$1,877$1,222$783$484
35 years$3,981$2,678$1,755$1,125$709$431
36 years$3,828$2,542$1,641$1,036$642$384
37 years$3,683$2,414$1,536$954$582$342
38 years$3,547$2,294$1,439$880$528$304
39 years$3,417$2,182$1,348$811$479$271
40 years$3,295$2,076$1,263$748$434$242
41 years$3,179$1,976$1,185$690$394$215
42 years$3,068$1,882$1,111$637$357$192
43 years$2,963$1,793$1,043$588$324$171
44 years$2,863$1,709$979$543$294$152
45 years$2,768$1,630$919$501$267$136
46 years$2,677$1,555$863$463$243$121
47 years$2,591$1,484$811$428$220$108
48 years$2,508$1,416$762$395$200$96
49 years$2,429$1,353$716$365$182$86
50 years$2,353$1,292$673$338$165$77

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $2,410,000, adding $5,325 every year, while hoping to spend $53,016 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: 74/6/20 Blend
55$2,410,000$2,410,000$2,410,000$2,410,000
56$2,661,313$2,533,583$2,496,228$2,845,214
57$2,876,358$2,601,320$2,523,443$3,035,737
58$3,111,561$2,670,599$2,549,793$3,237,498
59$3,368,922$2,741,440$2,575,192$3,457,236
60$3,650,643$2,813,862$2,599,552$3,696,728
61$3,959,150$2,887,882$2,622,778$3,957,935
62$4,297,112$2,963,517$2,644,771$4,243,014
63$4,667,472$3,040,784$2,665,425$4,554,344
64$5,073,469$3,119,697$2,684,631$4,894,545
65$5,518,669$3,200,268$2,702,273$5,266,502
66$6,007,002$3,282,511$2,718,228$5,673,397
67$6,542,797$3,366,434$2,732,369$6,118,731
68$7,130,820$3,452,047$2,744,561$6,606,367
69$7,776,321$3,539,355$2,754,661$7,140,556
70$8,485,086$3,628,363$2,762,523$7,725,986
71$9,263,485$3,719,074$2,767,988$8,367,821
72$10,118,539$3,811,486$2,770,893$9,071,750
73$11,057,978$3,905,597$2,771,066$9,844,044
74$12,090,321$4,001,402$2,768,327$10,691,612
75$13,224,954$4,098,890$2,762,485$11,622,066
76$14,472,213$4,198,049$2,753,343$12,643,797
77$15,843,490$4,298,865$2,740,691$13,766,048
78$17,351,333$4,401,316$2,724,311$14,999,008
79$19,009,567$4,505,379$2,703,974$16,353,902
80$20,833,427$4,611,026$2,679,441$17,843,100
81$22,839,694$4,718,224$2,650,459$19,480,236
82$25,046,859$4,826,934$2,616,766$21,280,331
83$27,475,297$4,937,112$2,578,087$23,259,942
84$30,147,457$5,048,710$2,534,132$25,437,312
85$33,088,071$5,161,670$2,484,599$27,832,545
86$36,324,394$5,275,931$2,429,172$30,467,796
87$39,886,453$5,391,424$2,367,521$33,367,482
88$43,807,338$5,508,070$2,299,299$36,558,509
89$48,123,505$5,625,784$2,224,145$40,070,527
90$52,875,128$5,744,472$2,141,678$43,936,213
91$58,106,471$5,864,032$2,051,505$48,191,576
92$63,866,311$5,984,349$1,953,211$52,876,300
93$70,208,394$6,105,301$1,846,362$58,034,116
94$77,191,942$6,226,753$1,730,507$63,713,219
95$84,882,214$6,348,558$1,605,173$69,966,719
96$93,351,120$6,470,558$1,469,867$76,853,144
97$102,677,899$6,592,579$1,324,071$84,436,997
98$112,949,865$6,714,436$1,167,248$92,789,357
99$124,263,234$6,835,926$998,834$101,988,558
100$136,724,030$6,956,833$818,241$112,120,926