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%13.3%
1 years$207,273$205,427$203,626$201,868$200,151$197,404
2 years$102,611$100,700$98,848$97,052$95,310$92,548
3 years$67,728$65,808$63,961$62,182$60,469$57,777
4 years$50,289$48,376$46,547$44,799$43,127$40,526
5 years$39,829$37,927$36,122$34,410$32,784$30,282
6 years$32,858$30,971$29,192$27,518$25,941$23,540
7 years$27,881$26,009$24,259$22,624$21,097$18,798
8 years$24,149$22,295$20,574$18,979$17,502$15,305
9 years$21,249$19,411$17,720$16,166$14,739$12,643
10 years$18,930$17,110$15,449$13,935$12,559$10,562
11 years$17,033$15,232$13,601$12,127$10,801$8,902
12 years$15,454$13,672$12,070$10,637$9,360$7,556
13 years$14,119$12,355$10,784$9,391$8,162$6,451
14 years$12,976$11,230$9,690$8,337$7,155$5,534
15 years$11,986$10,259$8,748$7,435$6,300$4,767
16 years$11,120$9,413$7,932$6,657$5,568$4,119
17 years$10,357$8,669$7,217$5,981$4,937$3,570
18 years$9,680$8,010$6,589$5,390$4,389$3,101
19 years$9,075$7,424$6,032$4,871$3,912$2,700
20 years$8,531$6,899$5,535$4,411$3,495$2,355
21 years$8,039$6,426$5,092$4,003$3,127$2,057
22 years$7,593$5,998$4,693$3,640$2,803$1,799
23 years$7,186$5,610$4,333$3,315$2,516$1,575
24 years$6,813$5,256$4,007$3,024$2,262$1,380
25 years$6,471$4,933$3,711$2,761$2,035$1,211
26 years$6,156$4,636$3,442$2,525$1,833$1,063
27 years$5,864$4,363$3,196$2,311$1,653$934
28 years$5,594$4,111$2,971$2,117$1,491$821
29 years$5,343$3,878$2,765$1,942$1,347$722
30 years$5,109$3,663$2,576$1,782$1,217$635
31 years$4,891$3,463$2,401$1,637$1,100$559
32 years$4,687$3,276$2,240$1,504$995$492
33 years$4,495$3,103$2,092$1,383$901$433
34 years$4,315$2,941$1,954$1,273$815$382
35 years$4,146$2,789$1,827$1,171$738$336
36 years$3,986$2,647$1,709$1,079$669$296
37 years$3,836$2,514$1,600$994$606$261
38 years$3,694$2,390$1,498$916$550$230
39 years$3,559$2,272$1,404$845$499$203
40 years$3,432$2,162$1,316$779$452$179
41 years$3,311$2,058$1,234$719$410$158
42 years$3,196$1,960$1,157$664$372$139
43 years$3,086$1,867$1,086$612$338$123
44 years$2,982$1,780$1,019$566$307$108
45 years$2,883$1,697$957$522$278$96
46 years$2,789$1,619$899$482$253$84
47 years$2,698$1,545$845$446$230$74
48 years$2,612$1,475$794$412$208$66
49 years$2,530$1,409$746$381$189$58
50 years$2,451$1,346$701$352$172$51

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 $5,883 every year, while hoping to spend $29,474 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: 66/22/12 Blend
55$2,510,000$2,510,000$2,510,000$2,510,000
56$2,772,088$2,639,058$2,600,153$2,947,210
57$3,023,481$2,737,012$2,655,898$3,162,646
58$3,299,528$2,838,778$2,712,523$3,394,010
59$3,602,713$2,944,511$2,770,026$3,646,138
60$3,935,772$3,054,374$2,828,403$3,921,059
61$4,301,719$3,168,536$2,887,653$4,221,003
62$4,703,874$3,287,174$2,947,769$4,548,425
63$5,145,895$3,410,472$3,008,745$4,906,027
64$5,631,812$3,538,621$3,070,574$5,296,785
65$6,166,066$3,671,822$3,133,247$5,723,972
66$6,753,547$3,810,284$3,196,754$6,191,193
67$7,399,646$3,954,225$3,261,082$6,702,417
68$8,110,299$4,103,871$3,326,218$7,262,014
69$8,892,050$4,259,461$3,392,146$7,874,795
70$9,752,106$4,421,242$3,458,850$8,546,057
71$10,698,410$4,589,472$3,526,311$9,281,634
72$11,739,712$4,764,420$3,594,506$10,087,951
73$12,885,653$4,946,367$3,663,412$10,972,082
74$14,146,858$5,135,607$3,733,005$11,941,818
75$15,535,032$5,332,446$3,803,255$13,005,742
76$17,063,073$5,537,204$3,874,132$14,173,303
77$18,745,194$5,750,215$3,945,603$15,454,912
78$20,597,054$5,971,826$4,017,631$16,862,034
79$22,635,910$6,202,401$4,090,178$18,407,299
80$24,880,774$6,442,320$4,163,200$20,104,619
81$27,352,599$6,691,980$4,236,653$21,969,318
82$30,074,470$6,951,793$4,310,487$24,018,277
83$33,071,827$7,222,192$4,384,650$26,270,091
84$36,372,702$7,503,628$4,459,084$28,745,246
85$40,007,984$7,796,572$4,533,730$31,466,310
86$44,011,710$8,101,516$4,608,522$34,458,144
87$48,421,389$8,418,974$4,683,391$37,748,140
88$53,278,350$8,749,483$4,758,264$41,366,471
89$58,628,137$9,093,604$4,833,062$45,346,383
90$64,520,938$9,451,921$4,907,700$49,724,502
91$71,012,055$9,825,047$4,982,089$54,541,183
92$78,162,430$10,213,620$5,056,135$59,840,885
93$86,039,219$10,618,308$5,129,737$65,672,594
94$94,716,424$11,039,810$5,202,787$72,090,279
95$104,275,591$11,478,852$5,275,172$79,153,408
96$114,806,583$11,936,198$5,346,773$86,927,499
97$126,408,425$12,412,642$5,417,460$95,484,743
98$139,190,240$12,909,017$5,487,100$104,904,683
99$153,272,276$13,426,191$5,555,550$115,274,962
100$168,787,047$13,965,072$5,622,659$126,692,149