Can I retire at age 56 with 2,430,000?

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 $2,430,000?

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$200,667$198,880$197,136$195,434$193,772$187,644
2 years$99,340$97,490$95,697$93,958$92,272$86,154
3 years$65,569$63,711$61,922$60,200$58,541$52,625
4 years$48,687$46,834$45,064$43,371$41,752$36,083
5 years$38,560$36,719$34,971$33,313$31,739$26,332
6 years$31,811$29,983$28,262$26,641$25,114$19,974
7 years$26,992$25,180$23,486$21,903$20,425$15,551
8 years$23,380$21,584$19,918$18,374$16,944$12,333
9 years$20,571$18,793$17,155$15,650$14,269$9,916
10 years$18,326$16,565$14,956$13,491$12,158$8,056
11 years$16,490$14,747$13,167$11,741$10,457$6,599
12 years$14,962$13,236$11,686$10,298$9,061$5,439
13 years$13,669$11,961$10,440$9,092$7,902$4,506
14 years$12,562$10,873$9,381$8,071$6,927$3,749
15 years$11,604$9,932$8,469$7,198$6,099$3,129
16 years$10,766$9,113$7,679$6,445$5,390$2,620
17 years$10,027$8,392$6,987$5,791$4,779$2,198
18 years$9,372$7,755$6,379$5,218$4,249$1,847
19 years$8,786$7,187$5,839$4,715$3,788$1,555
20 years$8,259$6,679$5,359$4,271$3,383$1,311
21 years$7,783$6,221$4,929$3,876$3,028$1,106
22 years$7,351$5,807$4,543$3,524$2,714$934
23 years$6,957$5,431$4,195$3,209$2,436$790
24 years$6,596$5,089$3,879$2,927$2,190$668
25 years$6,265$4,775$3,593$2,673$1,970$565
26 years$5,960$4,488$3,332$2,444$1,775$479
27 years$5,677$4,224$3,094$2,237$1,600$406
28 years$5,416$3,980$2,877$2,050$1,444$344
29 years$5,173$3,755$2,677$1,880$1,304$291
30 years$4,946$3,546$2,494$1,725$1,178$247
31 years$4,735$3,352$2,325$1,584$1,065$209
32 years$4,537$3,172$2,169$1,456$963$178
33 years$4,352$3,004$2,025$1,339$872$151
34 years$4,178$2,847$1,892$1,232$789$128
35 years$4,014$2,700$1,769$1,134$715$108
36 years$3,859$2,563$1,655$1,045$648$92
37 years$3,714$2,434$1,549$962$587$78
38 years$3,576$2,313$1,451$887$532$66
39 years$3,446$2,200$1,359$818$483$56
40 years$3,322$2,093$1,274$754$438$48
41 years$3,205$1,992$1,194$696$397$40
42 years$3,094$1,897$1,120$642$360$34
43 years$2,988$1,808$1,051$593$327$29
44 years$2,887$1,723$987$548$297$25
45 years$2,791$1,643$927$506$270$21
46 years$2,700$1,568$870$467$245$18
47 years$2,612$1,496$818$432$222$15
48 years$2,529$1,428$768$399$202$13
49 years$2,449$1,364$722$369$183$11
50 years$2,373$1,303$679$341$166$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $2,430,000, adding $3,867 every year, while hoping to spend $47,316 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: 64/29/7 Blend
55$2,430,000$2,430,000$2,430,000$2,430,000
56$2,681,849$2,553,059$2,515,394$2,849,770
57$2,905,054$2,627,815$2,549,316$3,036,834
58$3,149,439$2,704,648$2,582,788$3,235,119
59$3,417,117$2,783,610$2,615,746$3,450,446
60$3,710,410$2,864,754$2,648,121$3,684,465
61$4,031,878$2,948,134$2,679,839$3,938,992
62$4,384,341$3,033,804$2,710,826$4,216,027
63$4,770,904$3,121,820$2,740,998$4,517,772
64$5,194,985$3,212,239$2,770,271$4,846,649
65$5,660,353$3,305,118$2,798,554$5,205,325
66$6,171,156$3,400,515$2,825,752$5,596,739
67$6,731,964$3,498,491$2,851,765$6,024,124
68$7,347,812$3,599,105$2,876,487$6,491,043
69$8,024,246$3,702,418$2,899,807$7,001,417
70$8,767,376$3,808,493$2,921,606$7,559,566
71$9,583,931$3,917,392$2,941,763$8,170,246
72$10,481,327$4,029,179$2,960,147$8,838,699
73$11,467,732$4,143,919$2,976,622$9,570,694
74$12,552,146$4,261,676$2,991,044$10,372,589
75$13,744,483$4,382,516$3,003,262$11,251,385
76$15,055,667$4,506,506$3,013,118$12,214,796
77$16,497,733$4,633,713$3,020,446$13,271,318
78$18,083,941$4,764,204$3,025,070$14,430,311
79$19,828,901$4,898,048$3,026,808$15,702,088
80$21,748,709$5,035,312$3,025,466$17,098,007
81$23,861,101$5,176,067$3,020,843$18,630,584
82$26,185,619$5,320,380$3,012,727$20,313,607
83$28,743,794$5,468,320$3,000,895$22,162,268
84$31,559,351$5,619,958$2,985,115$24,193,303
85$34,658,432$5,775,363$2,965,143$26,425,153
86$38,069,839$5,934,603$2,940,723$28,878,136
87$41,825,312$6,097,748$2,911,587$31,574,637
88$45,959,822$6,264,866$2,877,453$34,539,323
89$50,511,905$6,436,025$2,838,028$37,799,371
90$55,524,021$6,611,292$2,793,004$41,384,728
91$61,042,960$6,790,735$2,742,059$45,328,389
92$67,120,279$6,974,418$2,684,855$49,666,713
93$73,812,789$7,162,406$2,621,040$54,439,762
94$81,183,092$7,354,762$2,550,243$59,691,680
95$89,300,170$7,551,548$2,472,078$65,471,111
96$98,240,036$7,752,822$2,386,142$71,831,654
97$108,086,453$7,958,644$2,292,011$78,832,373
98$118,931,721$8,169,068$2,189,243$86,538,351
99$130,877,551$8,384,146$2,077,377$95,021,305
100$144,036,022$8,603,930$1,955,930$104,360,263