Can I retire at age 56 with 2,520,000?

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 $2,520,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.2%
1 years$208,099$206,246$204,437$202,672$200,948$198,273
2 years$103,019$101,101$99,241$97,438$95,690$92,999
3 years$67,997$66,070$64,216$62,430$60,709$58,086
4 years$50,490$48,569$46,733$44,977$43,299$40,763
5 years$39,988$38,079$36,266$34,547$32,915$30,475
6 years$32,989$31,094$29,309$27,627$26,044$23,703
7 years$27,992$26,113$24,356$22,714$21,181$18,939
8 years$24,246$22,383$20,655$19,054$17,572$15,429
9 years$21,333$19,489$17,791$16,230$14,798$12,753
10 years$19,005$17,178$15,510$13,990$12,609$10,660
11 years$17,101$15,293$13,655$12,176$10,844$8,990
12 years$15,516$13,726$12,118$10,680$9,397$7,636
13 years$14,175$12,404$10,827$9,429$8,194$6,524
14 years$13,027$11,275$9,728$8,370$7,183$5,600
15 years$12,033$10,300$8,783$7,464$6,325$4,827
16 years$11,165$9,450$7,963$6,683$5,590$4,174
17 years$10,399$8,703$7,246$6,005$4,956$3,620
18 years$9,719$8,042$6,615$5,412$4,407$3,147
19 years$9,111$7,453$6,056$4,890$3,928$2,742
20 years$8,565$6,926$5,558$4,429$3,508$2,393
21 years$8,071$6,451$5,112$4,019$3,140$2,091
22 years$7,623$6,022$4,711$3,655$2,814$1,831
23 years$7,214$5,632$4,350$3,328$2,526$1,604
24 years$6,840$5,277$4,023$3,036$2,271$1,407
25 years$6,497$4,952$3,726$2,772$2,043$1,235
26 years$6,180$4,654$3,456$2,535$1,840$1,085
27 years$5,888$4,380$3,209$2,320$1,659$954
28 years$5,617$4,128$2,983$2,126$1,497$839
29 years$5,364$3,894$2,776$1,949$1,352$739
30 years$5,130$3,677$2,586$1,789$1,222$650
31 years$4,910$3,476$2,411$1,643$1,104$573
32 years$4,705$3,289$2,249$1,510$999$505
33 years$4,513$3,115$2,100$1,389$904$445
34 years$4,332$2,952$1,962$1,278$819$392
35 years$4,162$2,800$1,835$1,176$741$346
36 years$4,002$2,658$1,716$1,083$672$305
37 years$3,851$2,524$1,606$998$609$269
38 years$3,708$2,399$1,504$920$552$237
39 years$3,573$2,281$1,409$848$501$210
40 years$3,445$2,170$1,321$782$454$185
41 years$3,324$2,066$1,239$722$412$163
42 years$3,208$1,968$1,162$666$374$144
43 years$3,099$1,875$1,090$615$339$127
44 years$2,994$1,787$1,023$568$308$112
45 years$2,895$1,704$961$524$280$99
46 years$2,800$1,626$903$484$254$88
47 years$2,709$1,551$848$447$230$77
48 years$2,622$1,481$797$414$209$68
49 years$2,540$1,414$749$382$190$60
50 years$2,460$1,351$704$353$173$53

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $2,520,000, adding $4,959 every year, while hoping to spend $31,454 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: 76/9/15 Blend
55$2,520,000$2,520,000$2,520,000$2,520,000
56$2,782,155$2,648,595$2,609,535$2,984,263
57$3,032,468$2,744,910$2,663,488$3,214,717
58$3,307,259$2,844,889$2,718,194$3,462,871
59$3,608,991$2,948,680$2,773,645$3,734,068
60$3,940,378$3,056,435$2,829,832$4,030,592
61$4,304,409$3,168,314$2,886,744$4,354,961
62$4,704,379$3,284,481$2,944,369$4,709,948
63$5,143,914$3,405,109$3,002,694$5,098,605
64$5,627,011$3,530,377$3,061,703$5,524,294
65$6,158,075$3,660,475$3,121,379$5,990,718
66$6,741,957$3,795,596$3,181,703$6,501,956
67$7,384,001$3,935,944$3,242,654$7,062,501
68$8,090,095$4,081,732$3,304,209$7,677,301
69$8,866,729$4,233,180$3,366,344$8,351,807
70$9,721,049$4,390,521$3,429,031$9,092,023
71$10,660,933$4,553,993$3,492,240$9,904,564
72$11,695,057$4,723,847$3,555,939$10,796,716
73$12,832,983$4,900,346$3,620,094$11,776,507
74$14,085,246$5,083,762$3,684,666$12,852,779
75$15,463,454$5,274,379$3,749,615$14,035,276
76$16,980,397$5,472,495$3,814,897$15,334,731
77$18,650,168$5,678,417$3,880,467$16,762,969
78$20,488,295$5,892,469$3,946,272$18,333,017
79$22,511,889$6,114,988$4,012,260$20,059,231
80$24,739,804$6,346,325$4,078,373$21,957,426
81$27,192,815$6,586,845$4,144,549$24,045,025
82$29,893,813$6,836,932$4,210,723$26,341,228
83$32,868,025$7,096,985$4,276,825$28,867,187
84$36,143,245$7,367,419$4,342,780$31,646,211
85$39,750,102$7,648,668$4,408,509$34,703,980
86$43,722,346$7,941,186$4,473,928$38,068,791
87$48,097,168$8,245,447$4,538,947$41,771,822
88$52,915,548$8,561,943$4,603,471$45,847,427
89$58,222,646$8,891,190$4,667,399$50,333,462
90$64,068,224$9,233,727$4,730,625$55,271,638
91$70,507,117$9,590,113$4,793,036$60,707,917
92$77,599,751$9,960,937$4,854,510$66,692,943
93$85,412,713$10,346,810$4,914,923$73,282,521
94$94,019,376$10,748,371$4,974,141$80,538,146
95$103,500,599$11,166,287$5,032,020$88,527,576
96$113,945,480$11,601,255$5,088,413$97,325,479
97$125,452,206$12,054,004$5,143,162$107,014,130
98$138,128,972$12,525,291$5,196,099$117,684,194
99$152,095,009$13,015,912$5,247,050$129,435,574
100$167,481,704$13,526,696$5,295,830$142,378,361