Can I retire at age 56 with 2,450,000?

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 $2,450,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.2%
1 years$202,319$200,517$198,758$197,042$195,366$191,972
2 years$100,158$98,292$96,485$94,732$93,032$89,623
3 years$66,109$64,235$62,432$60,696$59,023$55,706
4 years$49,087$47,220$45,434$43,728$42,096$38,896
5 years$38,877$37,021$35,259$33,587$32,001$28,927
6 years$32,073$30,230$28,495$26,860$25,321$22,378
7 years$27,214$25,387$23,679$22,083$20,593$17,780
8 years$23,572$21,762$20,082$18,525$17,084$14,401
9 years$20,741$18,947$17,296$15,779$14,387$11,833
10 years$18,477$16,701$15,079$13,602$12,258$9,831
11 years$16,626$14,868$13,276$11,838$10,543$8,239
12 years$15,085$13,345$11,782$10,383$9,136$6,954
13 years$13,782$12,060$10,526$9,167$7,967$5,902
14 years$12,666$10,962$9,458$8,137$6,984$5,032
15 years$11,699$10,014$8,539$7,257$6,149$4,308
16 years$10,854$9,188$7,742$6,498$5,434$3,699
17 years$10,110$8,462$7,045$5,838$4,819$3,186
18 years$9,449$7,819$6,431$5,261$4,284$2,750
19 years$8,858$7,246$5,887$4,754$3,819$2,378
20 years$8,327$6,734$5,403$4,306$3,411$2,060
21 years$7,847$6,272$4,970$3,908$3,052$1,787
22 years$7,411$5,855$4,580$3,553$2,736$1,552
23 years$7,014$5,476$4,229$3,236$2,456$1,350
24 years$6,650$5,131$3,911$2,951$2,208$1,175
25 years$6,316$4,815$3,623$2,695$1,987$1,023
26 years$6,009$4,525$3,360$2,464$1,789$892
27 years$5,724$4,259$3,120$2,256$1,613$778
28 years$5,461$4,013$2,900$2,067$1,456$679
29 years$5,215$3,786$2,699$1,895$1,314$592
30 years$4,987$3,575$2,514$1,739$1,188$517
31 years$4,774$3,380$2,344$1,597$1,074$452
32 years$4,575$3,198$2,187$1,468$971$395
33 years$4,388$3,029$2,042$1,350$879$345
34 years$4,212$2,870$1,908$1,242$796$302
35 years$4,047$2,722$1,784$1,143$721$264
36 years$3,891$2,584$1,669$1,053$653$231
37 years$3,744$2,454$1,562$970$592$202
38 years$3,605$2,332$1,462$894$537$177
39 years$3,474$2,218$1,370$825$487$155
40 years$3,350$2,110$1,284$761$441$135
41 years$3,231$2,009$1,204$702$400$118
42 years$3,119$1,913$1,130$648$363$104
43 years$3,013$1,823$1,060$598$330$91
44 years$2,911$1,737$995$552$299$79
45 years$2,814$1,657$934$510$272$69
46 years$2,722$1,580$877$471$247$61
47 years$2,634$1,508$824$435$224$53
48 years$2,550$1,440$775$402$203$47
49 years$2,469$1,375$728$372$185$41
50 years$2,392$1,313$685$343$168$36

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $2,450,000, adding $2,280 every year, while hoping to spend $48,872 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: 44/49/7 Blend
55$2,450,000$2,450,000$2,450,000$2,450,000
56$2,702,252$2,572,402$2,534,427$2,815,694
57$2,925,882$2,646,450$2,567,331$2,968,441
58$3,170,685$2,722,489$2,599,699$3,128,684
59$3,438,767$2,800,564$2,631,462$3,301,222
60$3,732,452$2,880,722$2,662,546$3,487,198
61$4,054,295$2,963,009$2,692,874$3,687,872
62$4,407,111$3,047,475$2,722,363$3,904,627
63$4,794,002$3,134,167$2,750,928$4,138,986
64$5,218,382$3,223,133$2,778,476$4,392,623
65$5,684,014$3,314,424$2,804,913$4,667,381
66$6,195,042$3,408,089$2,830,135$4,965,287
67$6,756,029$3,504,178$2,854,038$5,288,572
68$7,372,003$3,602,742$2,876,507$5,639,693
69$8,048,503$3,703,832$2,897,425$6,021,353
70$8,791,629$3,807,498$2,916,668$6,436,527
71$9,608,102$3,913,793$2,934,103$6,888,491
72$10,505,327$4,022,767$2,949,594$7,380,852
73$11,491,461$4,134,473$2,962,996$7,917,582
74$12,575,490$4,248,963$2,974,157$8,503,054
75$13,767,315$4,366,287$2,982,916$9,142,083
76$15,077,844$4,486,497$2,989,106$9,839,973
77$16,519,093$4,609,645$2,992,551$10,602,565
78$18,104,305$4,735,782$2,993,065$11,436,292
79$19,848,066$4,864,957$2,990,455$12,348,240
80$21,766,450$4,997,222$2,984,517$13,346,212
81$23,877,167$5,132,624$2,975,037$14,438,807
82$26,199,729$5,271,214$2,961,791$15,635,495
83$28,755,635$5,413,037$2,944,545$16,946,707
84$31,568,575$5,558,142$2,923,053$18,383,937
85$34,664,651$5,706,572$2,897,057$19,959,846
86$38,072,624$5,858,371$2,866,286$21,688,382
87$41,824,182$6,013,583$2,830,458$23,584,913
88$45,954,247$6,172,247$2,789,276$25,666,370
89$50,501,295$6,334,401$2,742,431$27,951,408
90$55,507,722$6,500,082$2,689,598$30,460,578
91$61,020,246$6,669,323$2,630,436$33,216,527
92$67,090,346$6,842,155$2,564,591$36,244,206
93$73,774,747$7,018,605$2,491,690$39,571,107
94$81,135,954$7,198,700$2,411,344$43,227,523
95$89,242,843$7,382,458$2,323,146$47,246,832
96$98,171,313$7,569,898$2,226,671$51,665,814
97$108,004,996$7,761,032$2,121,474$56,524,996
98$118,836,051$7,955,868$2,007,089$61,869,034
99$130,766,032$8,154,410$1,883,030$67,747,137
100$143,906,845$8,356,654$1,748,789$74,213,527