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%14.6%
1 years$199,016$197,243$195,513$193,825$192,177$188,528
2 years$98,523$96,688$94,909$93,185$91,513$87,851
3 years$65,029$63,186$61,413$59,705$58,059$54,499
4 years$48,286$46,449$44,693$43,014$41,408$37,976
5 years$38,243$36,416$34,683$33,039$31,478$28,184
6 years$31,549$29,737$28,029$26,421$24,908$21,755
7 years$26,770$24,973$23,292$21,722$20,256$17,247
8 years$23,187$21,406$19,754$18,222$16,805$13,937
9 years$20,402$18,638$17,014$15,521$14,152$11,425
10 years$18,175$16,429$14,833$13,380$12,058$9,468
11 years$16,355$14,625$13,059$11,644$10,370$7,915
12 years$14,839$13,127$11,589$10,214$8,987$6,663
13 years$13,557$11,863$10,354$9,017$7,837$5,640
14 years$12,459$10,783$9,303$8,004$6,870$4,796
15 years$11,508$9,851$8,400$7,138$6,049$4,094
16 years$10,677$9,038$7,616$6,392$5,346$3,506
17 years$9,945$8,323$6,930$5,743$4,740$3,011
18 years$9,294$7,691$6,326$5,176$4,214$2,591
19 years$8,713$7,128$5,791$4,677$3,756$2,234
20 years$8,191$6,624$5,315$4,236$3,355$1,930
21 years$7,719$6,170$4,889$3,844$3,003$1,669
22 years$7,290$5,759$4,506$3,495$2,691$1,445
23 years$6,899$5,387$4,160$3,183$2,416$1,253
24 years$6,542$5,047$3,848$2,903$2,172$1,087
25 years$6,213$4,736$3,564$2,651$1,954$944
26 years$5,911$4,451$3,305$2,424$1,760$820
27 years$5,631$4,189$3,069$2,219$1,587$713
28 years$5,371$3,947$2,853$2,033$1,432$620
29 years$5,130$3,724$2,655$1,864$1,293$539
30 years$4,906$3,517$2,473$1,711$1,168$469
31 years$4,696$3,325$2,306$1,571$1,056$409
32 years$4,500$3,146$2,151$1,444$955$356
33 years$4,316$2,979$2,008$1,328$865$310
34 years$4,143$2,823$1,877$1,222$783$270
35 years$3,981$2,678$1,755$1,125$709$235
36 years$3,828$2,542$1,641$1,036$642$205
37 years$3,683$2,414$1,536$954$582$179
38 years$3,547$2,294$1,439$880$528$156
39 years$3,417$2,182$1,348$811$479$136
40 years$3,295$2,076$1,263$748$434$119
41 years$3,179$1,976$1,185$690$394$103
42 years$3,068$1,882$1,111$637$357$90
43 years$2,963$1,793$1,043$588$324$79
44 years$2,863$1,709$979$543$294$69
45 years$2,768$1,630$919$501$267$60
46 years$2,677$1,555$863$463$243$52
47 years$2,591$1,484$811$428$220$46
48 years$2,508$1,416$762$395$200$40
49 years$2,429$1,353$716$365$182$35
50 years$2,353$1,292$673$338$165$30

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 $5,539 every year, while hoping to spend $22,476 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: 59/25/16 Blend
55$2,410,000$2,410,000$2,410,000$2,410,000
56$2,661,533$2,533,803$2,496,448$2,807,334
57$2,909,096$2,634,046$2,556,165$3,006,762
58$3,181,156$2,738,446$2,617,129$3,221,169
59$3,480,189$2,847,185$2,679,358$3,454,462
60$3,808,922$2,960,451$2,742,871$3,708,466
61$4,170,359$3,078,441$2,807,684$3,985,190
62$4,567,810$3,201,359$2,873,816$4,286,842
63$5,004,922$3,329,420$2,941,283$4,615,852
64$5,485,711$3,462,849$3,010,104$4,974,894
65$6,014,605$3,601,880$3,080,293$5,366,910
66$6,596,480$3,746,758$3,151,869$5,795,139
67$7,236,712$3,897,739$3,224,847$6,263,145
68$7,941,219$4,055,091$3,299,242$6,774,849
69$8,716,527$4,219,094$3,375,070$7,334,569
70$9,569,823$4,390,040$3,452,345$7,947,059
71$10,509,028$4,568,234$3,531,082$8,617,550
72$11,542,868$4,753,998$3,611,293$9,351,804
73$12,680,962$4,947,665$3,692,992$10,156,161
74$13,933,903$5,149,583$3,776,190$11,037,606
75$15,313,368$5,360,120$3,860,900$12,003,827
76$16,832,222$5,579,656$3,947,130$13,063,290
77$18,504,641$5,808,592$4,034,892$14,225,320
78$20,346,247$6,047,345$4,124,193$15,500,183
79$22,374,251$6,296,352$4,215,040$16,899,188
80$24,607,621$6,556,070$4,307,440$18,434,787
81$27,067,258$6,826,976$4,401,399$20,120,695
82$29,776,191$7,109,572$4,496,919$21,972,019
83$32,759,801$7,404,379$4,594,004$24,005,397
84$36,046,051$7,711,944$4,692,654$26,239,154
85$39,665,759$8,032,840$4,792,868$28,693,477
86$43,652,881$8,367,664$4,894,645$31,390,602
87$48,044,839$8,717,043$4,997,979$34,355,020
88$52,882,866$9,081,631$5,102,864$37,613,715
89$58,212,401$9,462,115$5,209,293$41,196,406
90$64,083,517$9,859,209$5,317,256$45,135,837
91$70,551,391$10,273,665$5,426,738$49,468,077
92$77,676,825$10,706,267$5,537,726$54,232,863
93$85,526,823$11,157,836$5,650,202$59,473,971
94$94,175,220$11,629,231$5,764,145$65,239,630
95$103,703,380$12,121,351$5,879,532$71,582,972
96$114,200,965$12,635,137$5,996,336$78,562,538
97$125,766,778$13,171,574$6,114,528$86,242,820
98$138,509,700$13,731,691$6,234,075$94,694,874
99$152,549,713$14,316,568$6,354,941$103,996,989
100$168,019,036$14,927,333$6,477,084$114,235,420