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%17.7%
1 years$200,667$198,880$197,136$195,434$193,772$187,719
2 years$99,340$97,490$95,697$93,958$92,272$86,228
3 years$65,569$63,711$61,922$60,200$58,541$52,696
4 years$48,687$46,834$45,064$43,371$41,752$36,149
5 years$38,560$36,719$34,971$33,313$31,739$26,395
6 years$31,811$29,983$28,262$26,641$25,114$20,032
7 years$26,992$25,180$23,486$21,903$20,425$15,605
8 years$23,380$21,584$19,918$18,374$16,944$12,384
9 years$20,571$18,793$17,155$15,650$14,269$9,963
10 years$18,326$16,565$14,956$13,491$12,158$8,099
11 years$16,490$14,747$13,167$11,741$10,457$6,638
12 years$14,962$13,236$11,686$10,298$9,061$5,475
13 years$13,669$11,961$10,440$9,092$7,902$4,539
14 years$12,562$10,873$9,381$8,071$6,927$3,779
15 years$11,604$9,932$8,469$7,198$6,099$3,157
16 years$10,766$9,113$7,679$6,445$5,390$2,644
17 years$10,027$8,392$6,987$5,791$4,779$2,220
18 years$9,372$7,755$6,379$5,218$4,249$1,867
19 years$8,786$7,187$5,839$4,715$3,788$1,573
20 years$8,259$6,679$5,359$4,271$3,383$1,327
21 years$7,783$6,221$4,929$3,876$3,028$1,121
22 years$7,351$5,807$4,543$3,524$2,714$948
23 years$6,957$5,431$4,195$3,209$2,436$802
24 years$6,596$5,089$3,879$2,927$2,190$679
25 years$6,265$4,775$3,593$2,673$1,970$575
26 years$5,960$4,488$3,332$2,444$1,775$487
27 years$5,677$4,224$3,094$2,237$1,600$413
28 years$5,416$3,980$2,877$2,050$1,444$350
29 years$5,173$3,755$2,677$1,880$1,304$297
30 years$4,946$3,546$2,494$1,725$1,178$252
31 years$4,735$3,352$2,325$1,584$1,065$214
32 years$4,537$3,172$2,169$1,456$963$182
33 years$4,352$3,004$2,025$1,339$872$154
34 years$4,178$2,847$1,892$1,232$789$131
35 years$4,014$2,700$1,769$1,134$715$111
36 years$3,859$2,563$1,655$1,045$648$94
37 years$3,714$2,434$1,549$962$587$80
38 years$3,576$2,313$1,451$887$532$68
39 years$3,446$2,200$1,359$818$483$58
40 years$3,322$2,093$1,274$754$438$49
41 years$3,205$1,992$1,194$696$397$42
42 years$3,094$1,897$1,120$642$360$35
43 years$2,988$1,808$1,051$593$327$30
44 years$2,887$1,723$987$548$297$26
45 years$2,791$1,643$927$506$270$22
46 years$2,700$1,568$870$467$245$18
47 years$2,612$1,496$818$432$222$16
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$10

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 $3,599 every year, while hoping to spend $56,067 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: 64/9/27 Blend
55$2,430,000$2,430,000$2,430,000$2,430,000
56$2,681,572$2,552,782$2,515,117$2,833,806
57$2,895,438$2,618,214$2,539,719$3,002,673
58$3,129,239$2,684,972$2,563,266$3,180,589
59$3,384,949$2,753,064$2,585,663$3,373,767
60$3,664,742$2,822,492$2,606,811$3,583,713
61$3,971,011$2,893,260$2,626,605$3,812,086
62$4,306,393$2,965,369$2,644,935$4,060,714
63$4,673,790$3,038,816$2,661,684$4,331,612
64$5,076,397$3,113,599$2,676,732$4,627,000
65$5,517,735$3,189,711$2,689,948$4,949,325
66$6,001,682$3,267,145$2,701,199$5,301,283
67$6,532,508$3,345,889$2,710,343$5,685,845
68$7,114,915$3,425,928$2,717,231$6,106,285
69$7,754,084$3,507,247$2,721,706$6,566,213
70$8,455,722$3,589,824$2,723,605$7,069,605
71$9,226,115$3,673,635$2,722,755$7,620,844
72$10,072,188$3,758,651$2,718,976$8,224,763
73$11,001,567$3,844,842$2,712,078$8,886,683
74$12,022,657$3,932,169$2,701,863$9,612,475
75$13,144,714$4,020,591$2,688,121$10,408,603
76$14,377,937$4,110,062$2,670,636$11,282,197
77$15,733,562$4,200,530$2,649,177$12,241,112
78$17,223,965$4,291,937$2,623,505$13,294,005
79$18,862,786$4,384,218$2,593,368$14,450,419
80$20,665,049$4,477,303$2,558,505$15,720,871
81$22,647,308$4,571,115$2,518,639$17,116,953
82$24,827,801$4,665,568$2,473,481$18,651,439
83$27,226,625$4,760,569$2,422,731$20,338,410
84$29,865,920$4,856,016$2,366,071$22,193,384
85$32,770,082$4,951,798$2,303,172$24,233,464
86$35,965,990$5,047,796$2,233,688$26,477,501
87$39,483,261$5,143,878$2,157,257$28,946,269
88$43,354,529$5,239,904$2,073,501$31,662,667
89$47,615,752$5,335,720$1,982,025$34,651,929
90$52,306,551$5,431,162$1,882,414$37,941,869
91$57,470,581$5,526,051$1,774,237$41,563,140
92$63,155,948$5,620,196$1,657,042$45,549,526
93$69,415,659$5,713,390$1,530,357$49,938,261
94$76,308,122$5,805,411$1,393,689$54,770,380
95$83,897,695$5,896,021$1,246,523$60,091,109
96$92,255,299$5,984,965$1,088,320$65,950,292
97$101,459,079$6,071,969$918,519$72,402,862
98$111,595,148$6,156,738$736,532$79,509,361
99$122,758,394$6,238,959$541,747$87,336,511
100$135,053,379$6,318,296$333,523$95,957,849