Can I retire at age 56 with 2,510,000?

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 $2,510,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.5%
1 years$207,273$205,427$203,626$201,868$200,151$198,890
2 years$102,611$100,700$98,848$97,052$95,310$94,038
3 years$67,728$65,808$63,961$62,182$60,469$59,225
4 years$50,289$48,376$46,547$44,799$43,127$41,921
5 years$39,829$37,927$36,122$34,410$32,784$31,620
6 years$32,858$30,971$29,192$27,518$25,941$24,820
7 years$27,881$26,009$24,259$22,624$21,097$20,019
8 years$24,149$22,295$20,574$18,979$17,502$16,468
9 years$21,249$19,411$17,720$16,166$14,739$13,748
10 years$18,930$17,110$15,449$13,935$12,559$11,611
11 years$17,033$15,232$13,601$12,127$10,801$9,895
12 years$15,454$13,672$12,070$10,637$9,360$8,495
13 years$14,119$12,355$10,784$9,391$8,162$7,338
14 years$12,976$11,230$9,690$8,337$7,155$6,370
15 years$11,986$10,259$8,748$7,435$6,300$5,554
16 years$11,120$9,413$7,932$6,657$5,568$4,859
17 years$10,357$8,669$7,217$5,981$4,937$4,265
18 years$9,680$8,010$6,589$5,390$4,389$3,753
19 years$9,075$7,424$6,032$4,871$3,912$3,310
20 years$8,531$6,899$5,535$4,411$3,495$2,925
21 years$8,039$6,426$5,092$4,003$3,127$2,589
22 years$7,593$5,998$4,693$3,640$2,803$2,295
23 years$7,186$5,610$4,333$3,315$2,516$2,037
24 years$6,813$5,256$4,007$3,024$2,262$1,810
25 years$6,471$4,933$3,711$2,761$2,035$1,611
26 years$6,156$4,636$3,442$2,525$1,833$1,434
27 years$5,864$4,363$3,196$2,311$1,653$1,278
28 years$5,594$4,111$2,971$2,117$1,491$1,140
29 years$5,343$3,878$2,765$1,942$1,347$1,017
30 years$5,109$3,663$2,576$1,782$1,217$908
31 years$4,891$3,463$2,401$1,637$1,100$811
32 years$4,687$3,276$2,240$1,504$995$725
33 years$4,495$3,103$2,092$1,383$901$648
34 years$4,315$2,941$1,954$1,273$815$579
35 years$4,146$2,789$1,827$1,171$738$518
36 years$3,986$2,647$1,709$1,079$669$464
37 years$3,836$2,514$1,600$994$606$415
38 years$3,694$2,390$1,498$916$550$371
39 years$3,559$2,272$1,404$845$499$333
40 years$3,432$2,162$1,316$779$452$298
41 years$3,311$2,058$1,234$719$410$267
42 years$3,196$1,960$1,157$664$372$239
43 years$3,086$1,867$1,086$612$338$214
44 years$2,982$1,780$1,019$566$307$192
45 years$2,883$1,697$957$522$278$172
46 years$2,789$1,619$899$482$253$154
47 years$2,698$1,545$845$446$230$138
48 years$2,612$1,475$794$412$208$124
49 years$2,530$1,409$746$381$189$111
50 years$2,451$1,346$701$352$172$99

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $2,510,000, adding $3,688 every year, while hoping to spend $50,934 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: 55/32/13 Blend
55$2,510,000$2,510,000$2,510,000$2,510,000
56$2,769,824$2,636,794$2,597,889$2,912,659
57$2,998,153$2,711,804$2,630,725$3,085,056
58$3,248,064$2,788,782$2,662,954$3,266,827
59$3,521,705$2,867,771$2,694,502$3,463,569
60$3,821,441$2,948,814$2,725,290$3,676,718
61$4,149,877$3,031,954$2,755,236$3,907,858
62$4,509,881$3,117,236$2,784,252$4,158,729
63$4,904,612$3,204,704$2,812,247$4,431,249
64$5,337,548$3,294,401$2,839,124$4,727,530
65$5,812,524$3,386,372$2,864,781$5,049,894
66$6,333,759$3,480,662$2,889,108$5,400,901
67$6,905,904$3,577,315$2,911,995$5,783,369
68$7,534,079$3,676,377$2,933,320$6,200,401
69$8,223,927$3,777,891$2,952,958$6,655,416
70$8,981,663$3,881,903$2,970,777$7,152,177
71$9,814,133$3,988,457$2,986,639$7,694,830
72$10,728,880$4,097,597$3,000,396$8,287,943
73$11,734,212$4,209,366$3,011,896$8,936,546
74$12,839,285$4,323,808$3,020,978$9,646,180
75$14,054,183$4,440,965$3,027,471$10,422,950
76$15,390,017$4,560,880$3,031,199$11,273,580
77$16,859,028$4,683,593$3,031,974$12,205,479
78$18,474,705$4,809,145$3,029,601$13,226,808
79$20,251,907$4,937,574$3,023,874$14,346,561
80$22,207,005$5,068,920$3,014,578$15,574,645
81$24,358,040$5,203,217$3,001,487$16,921,975
82$26,724,888$5,340,502$2,984,364$18,400,577
83$29,329,446$5,480,807$2,962,961$20,023,704
84$32,195,847$5,624,163$2,937,016$21,805,957
85$35,350,676$5,770,600$2,906,259$23,763,423
86$38,823,229$5,920,144$2,870,404$25,913,829
87$42,645,787$6,072,819$2,829,151$28,276,708
88$46,853,918$6,228,648$2,782,187$30,873,584
89$51,486,812$6,387,646$2,729,186$33,728,173
90$56,587,657$6,549,831$2,669,803$36,866,609
91$62,204,037$6,715,212$2,603,681$40,317,690
92$68,388,388$6,883,796$2,530,443$44,113,149
93$75,198,488$7,055,587$2,449,698$48,287,954
94$82,698,005$7,230,581$2,361,033$52,880,637
95$90,957,094$7,408,773$2,264,021$57,933,662
96$100,053,063$7,590,148$2,158,211$63,493,819
97$110,071,099$7,774,688$2,043,134$69,612,672
98$121,105,072$7,962,369$1,918,300$76,347,041
99$133,258,422$8,153,158$1,783,196$83,759,542
100$146,645,133$8,347,015$1,637,286$91,919,176