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%18.3%
1 years$200,667$198,880$197,136$195,434$193,772$187,269
2 years$99,340$97,490$95,697$93,958$92,272$85,785
3 years$65,569$63,711$61,922$60,200$58,541$52,273
4 years$48,687$46,834$45,064$43,371$41,752$35,751
5 years$38,560$36,719$34,971$33,313$31,739$26,022
6 years$31,811$29,983$28,262$26,641$25,114$19,684
7 years$26,992$25,180$23,486$21,903$20,425$15,281
8 years$23,380$21,584$19,918$18,374$16,944$12,084
9 years$20,571$18,793$17,155$15,650$14,269$9,686
10 years$18,326$16,565$14,956$13,491$12,158$7,845
11 years$16,490$14,747$13,167$11,741$10,457$6,405
12 years$14,962$13,236$11,686$10,298$9,061$5,262
13 years$13,669$11,961$10,440$9,092$7,902$4,345
14 years$12,562$10,873$9,381$8,071$6,927$3,602
15 years$11,604$9,932$8,469$7,198$6,099$2,996
16 years$10,766$9,113$7,679$6,445$5,390$2,499
17 years$10,027$8,392$6,987$5,791$4,779$2,089
18 years$9,372$7,755$6,379$5,218$4,249$1,749
19 years$8,786$7,187$5,839$4,715$3,788$1,467
20 years$8,259$6,679$5,359$4,271$3,383$1,232
21 years$7,783$6,221$4,929$3,876$3,028$1,036
22 years$7,351$5,807$4,543$3,524$2,714$871
23 years$6,957$5,431$4,195$3,209$2,436$734
24 years$6,596$5,089$3,879$2,927$2,190$618
25 years$6,265$4,775$3,593$2,673$1,970$521
26 years$5,960$4,488$3,332$2,444$1,775$439
27 years$5,677$4,224$3,094$2,237$1,600$371
28 years$5,416$3,980$2,877$2,050$1,444$313
29 years$5,173$3,755$2,677$1,880$1,304$264
30 years$4,946$3,546$2,494$1,725$1,178$223
31 years$4,735$3,352$2,325$1,584$1,065$188
32 years$4,537$3,172$2,169$1,456$963$159
33 years$4,352$3,004$2,025$1,339$872$134
34 years$4,178$2,847$1,892$1,232$789$113
35 years$4,014$2,700$1,769$1,134$715$96
36 years$3,859$2,563$1,655$1,045$648$81
37 years$3,714$2,434$1,549$962$587$68
38 years$3,576$2,313$1,451$887$532$58
39 years$3,446$2,200$1,359$818$483$49
40 years$3,322$2,093$1,274$754$438$41
41 years$3,205$1,992$1,194$696$397$35
42 years$3,094$1,897$1,120$642$360$30
43 years$2,988$1,808$1,051$593$327$25
44 years$2,887$1,723$987$548$297$21
45 years$2,791$1,643$927$506$270$18
46 years$2,700$1,568$870$467$245$15
47 years$2,612$1,496$818$432$222$13
48 years$2,529$1,428$768$399$202$11
49 years$2,449$1,364$722$369$183$9
50 years$2,373$1,303$679$341$166$8

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 $2,219 every year, while hoping to spend $38,082 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: 69/14/17 Blend
55$2,430,000$2,430,000$2,430,000$2,430,000
56$2,680,149$2,551,359$2,513,694$2,854,078
57$2,913,005$2,635,857$2,557,384$3,054,773
58$3,168,336$2,723,218$2,601,261$3,269,566
59$3,448,395$2,813,544$2,645,291$3,503,627
60$3,755,661$2,906,938$2,689,439$3,758,852
61$4,092,868$3,003,507$2,733,664$4,037,325
62$4,463,025$3,103,363$2,777,926$4,341,347
63$4,869,447$3,206,622$2,822,181$4,673,446
64$5,315,788$3,313,403$2,866,380$5,036,409
65$5,806,069$3,423,831$2,910,475$5,433,305
66$6,344,723$3,538,033$2,954,411$5,867,513
67$6,936,632$3,656,145$2,998,131$6,342,757
68$7,587,176$3,778,303$3,041,576$6,863,135
69$8,302,280$3,904,652$3,084,680$7,433,163
70$9,088,472$4,035,340$3,127,377$8,057,816
71$9,952,946$4,170,521$3,169,594$8,742,574
72$10,903,627$4,310,357$3,211,256$9,493,471
73$11,949,244$4,455,011$3,252,280$10,317,158
74$13,099,418$4,604,658$3,292,582$11,220,959
75$14,364,747$4,759,474$3,332,072$12,212,944
76$15,756,909$4,919,647$3,370,654$13,302,002
77$17,288,770$5,085,366$3,408,228$14,497,929
78$18,974,508$5,256,833$3,444,688$15,811,515
79$20,829,744$5,434,253$3,479,920$17,254,648
80$22,871,688$5,617,842$3,513,808$18,840,427
81$25,119,306$5,807,822$3,546,226$20,583,283
82$27,593,494$6,004,424$3,577,044$22,499,117
83$30,317,278$6,207,889$3,606,122$24,605,447
84$33,316,030$6,418,464$3,633,316$26,921,578
85$36,617,705$6,636,409$3,658,473$29,468,777
86$40,253,109$6,861,992$3,681,430$32,270,481
87$44,256,187$7,095,490$3,702,019$35,352,510
88$48,664,343$7,337,194$3,720,061$38,743,319
89$53,518,793$7,587,403$3,735,370$42,474,258
90$58,864,953$7,846,429$3,747,748$46,579,872
91$64,752,870$8,114,595$3,756,989$51,098,227
92$71,237,690$8,392,238$3,762,875$56,071,267
93$78,380,183$8,679,706$3,765,180$61,545,212
94$86,247,312$8,977,362$3,763,664$67,570,990
95$94,912,867$9,285,582$3,758,076$74,204,721
96$104,458,161$9,604,758$3,748,153$81,508,247
97$114,972,797$9,935,294$3,733,620$89,549,710
98$126,555,512$10,277,614$3,714,187$98,404,200
99$139,315,113$10,632,155$3,689,550$108,154,462
100$153,371,497$10,999,374$3,659,393$118,891,676