Can I retire at age 56 with 2,480,000?

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 $2,480,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.2%
1 years$204,796$202,972$201,192$199,455$197,759$191,967
2 years$101,384$99,496$97,666$95,892$94,171$88,382
3 years$66,918$65,022$63,196$61,439$59,746$54,142
4 years$49,688$47,798$45,991$44,263$42,611$37,236
5 years$39,353$37,474$35,691$33,998$32,392$27,260
6 years$32,465$30,600$28,843$27,189$25,631$20,746
7 years$27,548$25,698$23,969$22,353$20,845$16,207
8 years$23,861$22,028$20,328$18,752$17,293$12,899
9 years$20,995$19,179$17,508$15,972$14,563$10,409
10 years$18,703$16,906$15,264$13,768$12,408$8,489
11 years$16,830$15,050$13,438$11,983$10,672$6,980
12 years$15,270$13,508$11,926$10,510$9,248$5,776
13 years$13,950$12,207$10,655$9,279$8,064$4,805
14 years$12,821$11,096$9,574$8,237$7,069$4,014
15 years$11,842$10,137$8,644$7,346$6,224$3,365
16 years$10,987$9,300$7,837$6,577$5,501$2,829
17 years$10,234$8,565$7,131$5,910$4,878$2,384
18 years$9,564$7,915$6,510$5,326$4,337$2,013
19 years$8,966$7,335$5,959$4,812$3,866$1,702
20 years$8,429$6,816$5,469$4,359$3,453$1,441
21 years$7,943$6,349$5,031$3,956$3,090$1,222
22 years$7,502$5,927$4,637$3,597$2,770$1,037
23 years$7,100$5,543$4,281$3,275$2,486$881
24 years$6,732$5,193$3,959$2,987$2,235$749
25 years$6,394$4,874$3,667$2,728$2,011$637
26 years$6,082$4,581$3,401$2,495$1,811$542
27 years$5,794$4,311$3,158$2,283$1,633$461
28 years$5,527$4,062$2,936$2,092$1,474$393
29 years$5,279$3,832$2,732$1,918$1,331$334
30 years$5,048$3,619$2,545$1,761$1,202$285
31 years$4,832$3,421$2,373$1,617$1,087$243
32 years$4,631$3,237$2,214$1,486$983$207
33 years$4,441$3,066$2,067$1,367$890$176
34 years$4,264$2,905$1,931$1,257$806$150
35 years$4,096$2,756$1,805$1,157$730$128
36 years$3,939$2,616$1,689$1,066$661$109
37 years$3,790$2,484$1,581$982$599$93
38 years$3,650$2,361$1,480$905$543$80
39 years$3,517$2,245$1,387$835$493$68
40 years$3,391$2,136$1,300$770$447$58
41 years$3,271$2,033$1,219$710$405$49
42 years$3,157$1,936$1,143$656$368$42
43 years$3,049$1,845$1,073$605$334$36
44 years$2,947$1,759$1,007$559$303$31
45 years$2,849$1,677$946$516$275$26
46 years$2,755$1,600$888$477$250$22
47 years$2,666$1,527$834$440$227$19
48 years$2,581$1,457$784$407$206$16
49 years$2,499$1,392$737$376$187$14
50 years$2,421$1,330$693$348$170$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $2,480,000, adding $4,153 every year, while hoping to spend $47,345 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: 63/22/15 Blend
55$2,480,000$2,480,000$2,480,000$2,480,000
56$2,737,244$2,605,804$2,567,364$2,899,389
57$2,966,068$2,683,113$2,602,996$3,085,994
58$3,216,645$2,762,625$2,638,235$3,283,899
59$3,491,145$2,844,395$2,673,017$3,498,868
60$3,791,955$2,928,484$2,707,277$3,732,560
61$4,121,706$3,014,951$2,740,942$3,986,807
62$4,483,296$3,103,859$2,773,939$4,263,621
63$4,879,914$3,195,271$2,806,189$4,565,221
64$5,315,077$3,289,250$2,837,607$4,894,050
65$5,792,654$3,385,863$2,868,106$5,252,795
66$6,316,911$3,485,176$2,897,594$5,644,419
67$6,892,544$3,587,258$2,925,972$6,072,183
68$7,524,728$3,692,178$2,953,136$6,539,681
69$8,219,162$3,800,007$2,978,978$7,050,869
70$8,982,127$3,910,818$3,003,384$7,610,106
71$9,820,540$4,024,683$3,026,233$8,222,192
72$10,742,021$4,141,678$3,047,398$8,892,417
73$11,754,966$4,261,880$3,066,745$9,626,606
74$12,868,625$4,385,365$3,084,134$10,431,177
75$14,093,189$4,512,212$3,099,416$11,313,201
76$15,439,885$4,642,501$3,112,438$12,280,468
77$16,921,084$4,776,315$3,123,035$13,341,558
78$18,550,415$4,913,734$3,131,037$14,505,928
79$20,342,894$5,054,844$3,136,263$15,783,993
80$22,315,067$5,199,728$3,138,526$17,187,232
81$24,485,162$5,348,474$3,137,625$18,728,290
82$26,873,267$5,501,168$3,133,354$20,421,100
83$29,501,514$5,657,898$3,125,495$22,281,014
84$32,394,287$5,818,754$3,113,818$24,324,948
85$35,578,458$5,983,826$3,098,084$26,571,539
86$39,083,632$6,153,205$3,078,041$29,041,327
87$42,942,433$6,326,983$3,053,426$31,756,939
88$47,190,809$6,505,253$3,023,964$34,743,312
89$51,868,369$6,688,108$2,989,364$38,027,923
90$57,018,759$6,875,641$2,949,324$41,641,047
91$62,690,073$7,067,948$2,903,527$45,616,048
92$68,935,306$7,265,123$2,851,641$49,989,689
93$75,812,855$7,467,262$2,793,318$54,802,480
94$83,387,067$7,674,459$2,728,195$60,099,061
95$91,728,850$7,886,809$2,655,892$65,928,625
96$100,916,338$8,104,408$2,576,010$72,345,377
97$111,035,631$8,327,351$2,488,132$79,409,051
98$122,181,606$8,555,731$2,391,825$87,185,470
99$134,458,810$8,789,643$2,286,632$95,747,170
100$147,982,452$9,029,179$2,172,077$105,174,082