Can I retire at age 56 with 2,530,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $2,530,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.7%
1 years$208,925$207,064$205,248$203,476$201,746$197,834
2 years$103,428$101,502$99,635$97,825$96,069$92,144
3 years$68,267$66,333$64,471$62,677$60,950$57,134
4 years$50,690$48,762$46,918$45,156$43,470$39,793
5 years$40,147$38,230$36,410$34,684$33,045$29,517
6 years$33,120$31,217$29,425$27,737$26,148$22,772
7 years$28,103$26,216$24,452$22,804$21,265$18,043
8 years$24,342$22,472$20,737$19,130$17,641$14,572
9 years$21,418$19,566$17,861$16,294$14,857$11,938
10 years$19,080$17,247$15,572$14,046$12,659$9,888
11 years$17,169$15,354$13,709$12,224$10,887$8,260
12 years$15,577$13,781$12,167$10,722$9,434$6,949
13 years$14,232$12,454$10,870$9,466$8,227$5,878
14 years$13,079$11,320$9,767$8,403$7,212$4,995
15 years$12,081$10,341$8,818$7,494$6,350$4,261
16 years$11,209$9,488$7,995$6,710$5,612$3,647
17 years$10,440$8,738$7,275$6,029$4,976$3,129
18 years$9,757$8,074$6,641$5,433$4,424$2,691
19 years$9,147$7,483$6,080$4,909$3,943$2,319
20 years$8,599$6,954$5,580$4,446$3,522$2,001
21 years$8,103$6,477$5,132$4,035$3,152$1,729
22 years$7,653$6,046$4,730$3,669$2,825$1,496
23 years$7,243$5,655$4,367$3,342$2,536$1,296
24 years$6,868$5,298$4,039$3,048$2,280$1,123
25 years$6,523$4,972$3,741$2,783$2,051$975
26 years$6,205$4,673$3,470$2,545$1,848$846
27 years$5,911$4,398$3,222$2,329$1,666$735
28 years$5,639$4,144$2,995$2,134$1,503$639
29 years$5,386$3,909$2,787$1,957$1,357$555
30 years$5,150$3,692$2,596$1,796$1,226$483
31 years$4,930$3,490$2,420$1,650$1,109$420
32 years$4,724$3,302$2,258$1,516$1,003$366
33 years$4,531$3,127$2,109$1,394$908$318
34 years$4,350$2,964$1,970$1,283$822$277
35 years$4,179$2,811$1,842$1,181$744$241
36 years$4,018$2,668$1,723$1,088$674$210
37 years$3,867$2,534$1,613$1,002$611$183
38 years$3,723$2,409$1,510$924$554$159
39 years$3,587$2,290$1,415$852$503$139
40 years$3,459$2,179$1,326$785$456$121
41 years$3,337$2,074$1,244$725$414$105
42 years$3,221$1,975$1,167$669$375$92
43 years$3,111$1,882$1,095$617$341$80
44 years$3,006$1,794$1,027$570$309$70
45 years$2,906$1,711$965$526$281$61
46 years$2,811$1,632$906$486$255$53
47 years$2,720$1,558$851$449$231$46
48 years$2,633$1,487$800$415$210$40
49 years$2,550$1,420$752$384$191$35
50 years$2,470$1,356$707$355$173$31

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $2,530,000, adding $5,400 every year, while hoping to spend $37,499 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: 74/7/19 Blend
55$2,530,000$2,530,000$2,530,000$2,530,000
56$2,793,630$2,659,540$2,620,325$2,987,505
57$3,038,682$2,749,959$2,668,207$3,207,259
58$3,307,472$2,843,551$2,716,437$3,442,902
59$3,602,382$2,940,434$2,764,986$3,700,153
60$3,926,036$3,040,726$2,813,824$3,981,155
61$4,281,323$3,144,553$2,862,918$4,288,267
62$4,671,427$3,252,045$2,912,235$4,624,087
63$5,099,854$3,363,336$2,961,736$4,991,478
64$5,570,466$3,478,567$3,011,381$5,393,592
65$6,087,519$3,597,882$3,061,128$5,833,902
66$6,655,701$3,721,434$3,110,931$6,316,232
67$7,280,176$3,849,377$3,160,741$6,844,796
68$7,966,634$3,981,877$3,210,505$7,424,236
69$8,721,343$4,119,100$3,260,169$8,059,665
70$9,551,208$4,261,225$3,309,673$8,756,717
71$10,463,839$4,408,432$3,358,955$9,521,596
72$11,467,618$4,560,913$3,407,947$10,361,140
73$12,571,781$4,718,864$3,456,580$11,282,882
74$13,786,504$4,882,490$3,504,777$12,295,120
75$15,123,000$5,052,005$3,552,459$13,406,998
76$16,593,622$5,227,629$3,599,543$14,628,589
77$18,211,982$5,409,593$3,645,938$15,970,995
78$19,993,078$5,598,137$3,691,550$17,446,443
79$21,953,435$5,793,508$3,736,280$19,068,410
80$24,111,261$5,995,966$3,780,022$20,851,743
81$26,486,621$6,205,780$3,822,664$22,812,800
82$29,101,623$6,423,229$3,864,089$24,969,609
83$31,980,625$6,648,605$3,904,173$27,342,031
84$35,150,471$6,882,208$3,942,785$29,951,952
85$38,640,737$7,124,355$3,979,786$32,823,489
86$42,484,016$7,375,371$4,015,033$35,983,214
87$46,716,219$7,635,598$4,048,370$39,460,410
88$51,376,921$7,905,390$4,079,638$43,287,341
89$56,509,727$8,185,114$4,108,666$47,499,562
90$62,162,688$8,475,154$4,135,275$52,136,251
91$68,388,754$8,775,908$4,159,279$57,240,579
92$75,246,272$9,087,792$4,180,479$62,860,120
93$82,799,534$9,411,237$4,198,668$69,047,294
94$91,119,391$9,746,692$4,213,628$75,859,868
95$100,283,914$10,094,625$4,225,129$83,361,499
96$110,379,134$10,455,523$4,232,932$91,622,330
97$121,499,854$10,829,892$4,236,784$100,719,660
98$133,750,542$11,218,259$4,236,419$110,738,668
99$147,246,318$11,621,174$4,231,559$121,773,217
100$162,114,039$12,039,208$4,221,913$133,926,742