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%17.8%
1 years$199,016$197,243$195,513$193,825$192,177$186,100
2 years$98,523$96,688$94,909$93,185$91,513$85,445
3 years$65,029$63,186$61,413$59,705$58,059$52,192
4 years$48,286$46,449$44,693$43,014$41,408$35,786
5 years$38,243$36,416$34,683$33,039$31,478$26,115
6 years$31,549$29,737$28,029$26,421$24,908$19,809
7 years$26,770$24,973$23,292$21,722$20,256$15,423
8 years$23,187$21,406$19,754$18,222$16,805$12,232
9 years$20,402$18,638$17,014$15,521$14,152$9,835
10 years$18,175$16,429$14,833$13,380$12,058$7,990
11 years$16,355$14,625$13,059$11,644$10,370$6,544
12 years$14,839$13,127$11,589$10,214$8,987$5,394
13 years$13,557$11,863$10,354$9,017$7,837$4,469
14 years$12,459$10,783$9,303$8,004$6,870$3,718
15 years$11,508$9,851$8,400$7,138$6,049$3,104
16 years$10,677$9,038$7,616$6,392$5,346$2,598
17 years$9,945$8,323$6,930$5,743$4,740$2,180
18 years$9,294$7,691$6,326$5,176$4,214$1,832
19 years$8,713$7,128$5,791$4,677$3,756$1,542
20 years$8,191$6,624$5,315$4,236$3,355$1,300
21 years$7,719$6,170$4,889$3,844$3,003$1,097
22 years$7,290$5,759$4,506$3,495$2,691$927
23 years$6,899$5,387$4,160$3,183$2,416$783
24 years$6,542$5,047$3,848$2,903$2,172$663
25 years$6,213$4,736$3,564$2,651$1,954$561
26 years$5,911$4,451$3,305$2,424$1,760$475
27 years$5,631$4,189$3,069$2,219$1,587$402
28 years$5,371$3,947$2,853$2,033$1,432$341
29 years$5,130$3,724$2,655$1,864$1,293$289
30 years$4,906$3,517$2,473$1,711$1,168$245
31 years$4,696$3,325$2,306$1,571$1,056$208
32 years$4,500$3,146$2,151$1,444$955$176
33 years$4,316$2,979$2,008$1,328$865$149
34 years$4,143$2,823$1,877$1,222$783$127
35 years$3,981$2,678$1,755$1,125$709$108
36 years$3,828$2,542$1,641$1,036$642$91
37 years$3,683$2,414$1,536$954$582$77
38 years$3,547$2,294$1,439$880$528$66
39 years$3,417$2,182$1,348$811$479$56
40 years$3,295$2,076$1,263$748$434$47
41 years$3,179$1,976$1,185$690$394$40
42 years$3,068$1,882$1,111$637$357$34
43 years$2,963$1,793$1,043$588$324$29
44 years$2,863$1,709$979$543$294$25
45 years$2,768$1,630$919$501$267$21
46 years$2,677$1,555$863$463$243$18
47 years$2,591$1,484$811$428$220$15
48 years$2,508$1,416$762$395$200$13
49 years$2,429$1,353$716$365$182$11
50 years$2,353$1,292$673$338$165$9

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 $4,426 every year, while hoping to spend $50,185 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: 78/8/14 Blend
55$2,410,000$2,410,000$2,410,000$2,410,000
56$2,660,385$2,532,655$2,495,300$2,859,944
57$2,878,348$2,603,359$2,525,497$3,062,709
58$3,116,861$2,675,845$2,555,022$3,278,229
59$3,377,968$2,750,148$2,583,802$3,513,218
60$3,663,917$2,826,302$2,611,756$3,769,602
61$3,977,188$2,904,342$2,638,801$4,049,502
62$4,320,508$2,984,302$2,664,848$4,355,253
63$4,696,883$3,066,215$2,689,803$4,689,428
64$5,109,621$3,150,117$2,713,568$5,054,860
65$5,562,370$3,236,039$2,736,040$5,454,670
66$6,059,143$3,324,016$2,757,108$5,892,298
67$6,604,363$3,414,081$2,776,659$6,371,530
68$7,202,902$3,506,265$2,794,571$6,896,541
69$7,860,126$3,600,600$2,810,718$7,471,926
70$8,581,947$3,697,118$2,824,964$8,102,750
71$9,374,876$3,795,847$2,837,171$8,794,594
72$10,246,088$3,896,818$2,847,191$9,553,605
73$11,203,485$4,000,058$2,854,868$10,386,556
74$12,255,773$4,105,594$2,860,039$11,300,909
75$13,412,546$4,213,451$2,862,534$12,304,888
76$14,684,369$4,323,654$2,862,173$13,407,552
77$16,082,887$4,436,225$2,858,767$14,618,884
78$17,620,926$4,551,185$2,852,120$15,949,882
79$19,312,618$4,668,551$2,842,025$17,412,666
80$21,173,536$4,788,341$2,828,263$19,020,591
81$23,220,835$4,910,567$2,810,608$20,788,373
82$25,473,417$5,035,242$2,788,821$22,732,225
83$27,952,111$5,162,375$2,762,651$24,870,016
84$30,679,864$5,291,969$2,731,838$27,221,432
85$33,681,962$5,424,027$2,696,107$29,808,171
86$36,986,266$5,558,548$2,655,170$32,654,138
87$40,623,474$5,695,526$2,608,727$35,785,676
88$44,627,413$5,834,951$2,556,464$39,231,817
89$49,035,354$5,976,809$2,498,051$43,024,547
90$53,888,368$6,121,080$2,433,143$47,199,119
91$59,231,708$6,267,740$2,361,380$51,794,378
92$65,115,241$6,416,758$2,282,385$56,853,129
93$71,593,914$6,568,098$2,195,763$62,422,544
94$78,728,275$6,721,716$2,101,102$68,554,603
95$86,585,042$6,877,562$1,997,972$75,306,589
96$95,237,732$7,035,580$1,885,921$82,741,626
97$104,767,360$7,195,702$1,764,478$90,929,276
98$115,263,194$7,357,854$1,633,151$99,946,193
99$126,823,604$7,521,954$1,491,426$109,876,854
100$139,556,988$7,687,906$1,338,765$120,814,345