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%16.1%
1 years$208,099$206,246$204,437$202,672$200,948$195,931
2 years$103,019$101,101$99,241$97,438$95,690$90,667
3 years$67,997$66,070$64,216$62,430$60,709$55,838
4 years$50,490$48,569$46,733$44,977$43,299$38,616
5 years$39,988$38,079$36,266$34,547$32,915$28,434
6 years$32,989$31,094$29,309$27,627$26,044$21,770
7 years$27,992$26,113$24,356$22,714$21,181$17,113
8 years$24,246$22,383$20,655$19,054$17,572$13,709
9 years$21,333$19,489$17,791$16,230$14,798$11,137
10 years$19,005$17,178$15,510$13,990$12,609$9,144
11 years$17,101$15,293$13,655$12,176$10,844$7,572
12 years$15,516$13,726$12,118$10,680$9,397$6,312
13 years$14,175$12,404$10,827$9,429$8,194$5,290
14 years$13,027$11,275$9,728$8,370$7,183$4,453
15 years$12,033$10,300$8,783$7,464$6,325$3,762
16 years$11,165$9,450$7,963$6,683$5,590$3,187
17 years$10,399$8,703$7,246$6,005$4,956$2,707
18 years$9,719$8,042$6,615$5,412$4,407$2,304
19 years$9,111$7,453$6,056$4,890$3,928$1,965
20 years$8,565$6,926$5,558$4,429$3,508$1,678
21 years$8,071$6,451$5,112$4,019$3,140$1,435
22 years$7,623$6,022$4,711$3,655$2,814$1,228
23 years$7,214$5,632$4,350$3,328$2,526$1,052
24 years$6,840$5,277$4,023$3,036$2,271$902
25 years$6,497$4,952$3,726$2,772$2,043$774
26 years$6,180$4,654$3,456$2,535$1,840$664
27 years$5,888$4,380$3,209$2,320$1,659$570
28 years$5,617$4,128$2,983$2,126$1,497$490
29 years$5,364$3,894$2,776$1,949$1,352$421
30 years$5,130$3,677$2,586$1,789$1,222$362
31 years$4,910$3,476$2,411$1,643$1,104$311
32 years$4,705$3,289$2,249$1,510$999$268
33 years$4,513$3,115$2,100$1,389$904$230
34 years$4,332$2,952$1,962$1,278$819$198
35 years$4,162$2,800$1,835$1,176$741$171
36 years$4,002$2,658$1,716$1,083$672$147
37 years$3,851$2,524$1,606$998$609$126
38 years$3,708$2,399$1,504$920$552$109
39 years$3,573$2,281$1,409$848$501$94
40 years$3,445$2,170$1,321$782$454$81
41 years$3,324$2,066$1,239$722$412$69
42 years$3,208$1,968$1,162$666$374$60
43 years$3,099$1,875$1,090$615$339$52
44 years$2,994$1,787$1,023$568$308$44
45 years$2,895$1,704$961$524$280$38
46 years$2,800$1,626$903$484$254$33
47 years$2,709$1,551$848$447$230$28
48 years$2,622$1,481$797$414$209$24
49 years$2,540$1,414$749$382$190$21
50 years$2,460$1,351$704$353$173$18

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 $5,434 every year, while hoping to spend $39,737 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: 73/16/11 Blend
55$2,520,000$2,520,000$2,520,000$2,520,000
56$2,782,645$2,649,085$2,610,025$2,979,388
57$3,024,195$2,736,610$2,655,181$3,197,646
58$3,289,051$2,827,093$2,700,518$3,431,168
59$3,579,549$2,920,635$2,746,000$3,685,851
60$3,898,261$3,017,343$2,791,588$3,963,777
61$4,248,019$3,117,329$2,837,243$4,267,241
62$4,631,945$3,220,706$2,882,918$4,598,768
63$5,053,476$3,327,594$2,928,569$4,961,136
64$5,516,400$3,438,115$2,974,145$5,357,409
65$6,024,886$3,552,396$3,019,592$5,790,956
66$6,583,532$3,670,571$3,064,856$6,265,491
67$7,197,399$3,792,775$3,109,875$6,785,102
68$7,872,064$3,919,152$3,154,586$7,354,294
69$8,613,671$4,049,847$3,198,922$7,978,024
70$9,428,991$4,185,014$3,242,811$8,661,758
71$10,325,479$4,324,812$3,286,177$9,411,513
72$11,311,354$4,469,403$3,328,939$10,233,916
73$12,395,667$4,618,959$3,371,014$11,136,269
74$13,588,392$4,773,655$3,412,310$12,126,616
75$14,900,520$4,933,675$3,452,733$13,213,817
76$16,344,156$5,099,209$3,492,183$14,407,633
77$17,932,643$5,270,453$3,530,554$15,718,817
78$19,680,678$5,447,611$3,567,734$17,159,216
79$21,604,459$5,630,896$3,603,605$18,741,881
80$23,721,831$5,820,527$3,638,043$20,481,191
81$26,052,457$6,016,732$3,670,916$22,392,989
82$28,618,003$6,219,747$3,702,087$24,494,727
83$31,442,343$6,429,818$3,731,410$26,805,636
84$34,551,782$6,647,200$3,758,733$29,346,903
85$37,975,308$6,872,156$3,783,895$32,141,875
86$41,744,859$7,104,962$3,806,725$35,216,270
87$45,895,631$7,345,901$3,827,046$38,598,431
88$50,466,405$7,595,270$3,844,672$42,319,584
89$55,499,914$7,853,374$3,859,404$46,414,135
90$61,043,248$8,120,532$3,871,037$50,919,997
91$67,148,296$8,397,075$3,879,353$55,878,943
92$73,872,236$8,683,345$3,884,126$61,337,002
93$81,278,074$8,979,699$3,885,114$67,344,895
94$89,435,240$9,286,507$3,882,068$73,958,507
95$98,420,242$9,604,153$3,874,725$81,239,421
96$108,317,386$9,933,036$3,862,807$89,255,494
97$119,219,574$10,273,570$3,846,026$98,081,500
98$131,229,181$10,626,185$3,824,078$107,799,832
99$144,459,018$10,991,328$3,796,645$118,501,282
100$159,033,398$11,369,464$3,763,393$130,285,895