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%18.2%
1 years$207,273$205,427$203,626$201,868$200,151$193,512
2 years$102,611$100,700$98,848$97,052$95,310$88,685
3 years$67,728$65,808$63,961$62,182$60,469$54,067
4 years$50,289$48,376$46,547$44,799$43,127$36,997
5 years$39,829$37,927$36,122$34,410$32,784$26,942
6 years$32,858$30,971$29,192$27,518$25,941$20,392
7 years$27,881$26,009$24,259$22,624$21,097$15,840
8 years$24,149$22,295$20,574$18,979$17,502$12,533
9 years$21,249$19,411$17,720$16,166$14,739$10,052
10 years$18,930$17,110$15,449$13,935$12,559$8,146
11 years$17,033$15,232$13,601$12,127$10,801$6,655
12 years$15,454$13,672$12,070$10,637$9,360$5,471
13 years$14,119$12,355$10,784$9,391$8,162$4,521
14 years$12,976$11,230$9,690$8,337$7,155$3,750
15 years$11,986$10,259$8,748$7,435$6,300$3,122
16 years$11,120$9,413$7,932$6,657$5,568$2,606
17 years$10,357$8,669$7,217$5,981$4,937$2,180
18 years$9,680$8,010$6,589$5,390$4,389$1,827
19 years$9,075$7,424$6,032$4,871$3,912$1,533
20 years$8,531$6,899$5,535$4,411$3,495$1,288
21 years$8,039$6,426$5,092$4,003$3,127$1,084
22 years$7,593$5,998$4,693$3,640$2,803$913
23 years$7,186$5,610$4,333$3,315$2,516$769
24 years$6,813$5,256$4,007$3,024$2,262$648
25 years$6,471$4,933$3,711$2,761$2,035$547
26 years$6,156$4,636$3,442$2,525$1,833$462
27 years$5,864$4,363$3,196$2,311$1,653$390
28 years$5,594$4,111$2,971$2,117$1,491$329
29 years$5,343$3,878$2,765$1,942$1,347$278
30 years$5,109$3,663$2,576$1,782$1,217$235
31 years$4,891$3,463$2,401$1,637$1,100$199
32 years$4,687$3,276$2,240$1,504$995$168
33 years$4,495$3,103$2,092$1,383$901$142
34 years$4,315$2,941$1,954$1,273$815$120
35 years$4,146$2,789$1,827$1,171$738$101
36 years$3,986$2,647$1,709$1,079$669$86
37 years$3,836$2,514$1,600$994$606$73
38 years$3,694$2,390$1,498$916$550$61
39 years$3,559$2,272$1,404$845$499$52
40 years$3,432$2,162$1,316$779$452$44
41 years$3,311$2,058$1,234$719$410$37
42 years$3,196$1,960$1,157$664$372$31
43 years$3,086$1,867$1,086$612$338$27
44 years$2,982$1,780$1,019$566$307$22
45 years$2,883$1,697$957$522$278$19
46 years$2,789$1,619$899$482$253$16
47 years$2,698$1,545$845$446$230$14
48 years$2,612$1,475$794$412$208$12
49 years$2,530$1,409$746$381$189$10
50 years$2,451$1,346$701$352$172$8

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 $3,860 every year, while hoping to spend $41,077 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: 63/17/20 Blend
55$2,510,000$2,510,000$2,510,000$2,510,000
56$2,770,002$2,636,972$2,598,067$2,930,057
57$3,008,836$2,722,478$2,641,396$3,123,856
58$3,270,655$2,810,797$2,684,801$3,330,457
59$3,557,759$2,902,023$2,728,239$3,555,142
60$3,872,684$2,996,255$2,771,668$3,799,679
61$4,218,219$3,093,593$2,815,040$4,066,013
62$4,597,441$3,194,143$2,858,308$4,356,290
63$5,013,735$3,298,011$2,901,416$4,672,867
64$5,470,834$3,405,311$2,944,311$5,018,345
65$5,972,845$3,516,158$2,986,932$5,395,584
66$6,524,298$3,630,672$3,029,217$5,807,737
67$7,130,178$3,748,977$3,071,098$6,258,274
68$7,795,982$3,871,202$3,112,505$6,751,019
69$8,527,760$3,997,480$3,153,362$7,290,181
70$9,332,183$4,127,947$3,193,591$7,880,400
71$10,216,596$4,262,747$3,233,107$8,526,783
72$11,189,094$4,402,027$3,271,821$9,234,958
73$12,258,595$4,545,940$3,309,640$10,011,124
74$13,434,924$4,694,643$3,346,465$10,862,111
75$14,728,905$4,848,299$3,382,191$11,795,442
76$16,152,467$5,007,079$3,416,708$12,819,405
77$17,718,750$5,171,158$3,449,899$13,943,130
78$19,442,234$5,340,716$3,481,642$15,176,678
79$21,338,873$5,515,942$3,511,808$16,531,131
80$23,426,246$5,697,031$3,540,261$18,018,701
81$25,723,720$5,884,183$3,566,857$19,652,841
82$28,252,639$6,077,608$3,591,447$21,448,374
83$31,036,519$6,277,521$3,613,871$23,421,633
84$34,101,271$6,484,146$3,633,962$25,590,612
85$37,475,446$6,697,715$3,651,546$27,975,140
86$41,190,507$6,918,468$3,666,438$30,597,063
87$45,281,120$7,146,654$3,678,444$33,480,454
88$49,785,484$7,382,531$3,687,362$36,651,838
89$54,745,693$7,626,364$3,692,979$40,140,442
90$60,208,129$7,878,431$3,695,069$43,978,470
91$66,223,902$8,139,018$3,693,398$48,201,410
92$72,849,332$8,408,422$3,687,719$52,848,364
93$80,146,480$8,686,951$3,677,773$57,962,419
94$88,183,732$8,974,923$3,663,290$63,591,055
95$97,036,447$9,272,668$3,643,984$69,786,591
96$106,787,665$9,580,529$3,619,557$76,606,678
97$117,528,892$9,898,860$3,589,698$84,114,845
98$129,360,964$10,228,030$3,554,078$92,381,095
99$142,394,998$10,568,418$3,512,355$101,482,569
100$156,753,438$10,920,421$3,464,169$111,504,274