Can I retire at age 56 with 2,540,000?

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 $2,540,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.5%
1 years$209,751$207,882$206,060$204,280$202,543$201,267
2 years$103,837$101,903$100,029$98,212$96,449$95,162
3 years$68,537$66,595$64,725$62,925$61,191$59,932
4 years$50,891$48,954$47,103$45,334$43,642$42,422
5 years$40,305$38,381$36,554$34,821$33,176$31,998
6 years$33,251$31,341$29,541$27,847$26,251$25,116
7 years$28,214$26,320$24,549$22,894$21,349$20,259
8 years$24,438$22,561$20,819$19,205$17,711$16,665
9 years$21,503$19,643$17,932$16,359$14,915$13,913
10 years$19,156$17,315$15,633$14,101$12,709$11,749
11 years$17,237$15,414$13,763$12,272$10,930$10,013
12 years$15,639$13,835$12,215$10,765$9,472$8,597
13 years$14,288$12,503$10,913$9,503$8,259$7,426
14 years$13,131$11,365$9,805$8,436$7,240$6,447
15 years$12,129$10,382$8,853$7,524$6,375$5,620
16 years$11,253$9,525$8,026$6,737$5,634$4,917
17 years$10,481$8,772$7,304$6,053$4,996$4,316
18 years$9,796$8,106$6,667$5,455$4,442$3,798
19 years$9,183$7,513$6,104$4,929$3,959$3,349
20 years$8,633$6,981$5,602$4,464$3,536$2,960
21 years$8,135$6,503$5,152$4,051$3,165$2,620
22 years$7,683$6,070$4,749$3,684$2,837$2,322
23 years$7,272$5,677$4,385$3,355$2,546$2,062
24 years$6,895$5,319$4,055$3,060$2,289$1,832
25 years$6,549$4,992$3,756$2,794$2,059$1,630
26 years$6,229$4,691$3,483$2,555$1,855$1,451
27 years$5,934$4,415$3,235$2,339$1,673$1,293
28 years$5,661$4,160$3,007$2,143$1,509$1,153
29 years$5,407$3,925$2,798$1,965$1,363$1,029
30 years$5,170$3,707$2,606$1,803$1,231$919
31 years$4,949$3,504$2,430$1,656$1,113$820
32 years$4,743$3,315$2,267$1,522$1,007$733
33 years$4,549$3,140$2,117$1,400$911$655
34 years$4,367$2,976$1,978$1,288$825$586
35 years$4,195$2,822$1,849$1,185$747$524
36 years$4,034$2,679$1,730$1,092$677$469
37 years$3,882$2,544$1,619$1,006$614$420
38 years$3,738$2,418$1,516$927$556$376
39 years$3,602$2,299$1,421$855$505$337
40 years$3,473$2,188$1,331$789$458$301
41 years$3,350$2,082$1,248$728$415$270
42 years$3,234$1,983$1,171$671$377$242
43 years$3,123$1,890$1,099$620$342$217
44 years$3,018$1,801$1,032$572$310$194
45 years$2,918$1,718$969$529$282$174
46 years$2,822$1,639$910$488$256$156
47 years$2,731$1,564$855$451$232$140
48 years$2,643$1,493$803$417$211$125
49 years$2,560$1,425$755$385$192$112
50 years$2,480$1,362$710$356$174$101

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $2,540,000, adding $2,234 every year, while hoping to spend $44,930 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: 79/10/11 Blend
55$2,540,000$2,540,000$2,540,000$2,540,000
56$2,801,384$2,666,764$2,627,394$3,017,063
57$3,039,320$2,749,631$2,667,607$3,241,937
58$3,300,020$2,835,052$2,707,661$3,482,546
59$3,585,758$2,923,105$2,747,503$3,745,208
60$3,899,038$3,013,870$2,787,078$4,032,107
61$4,242,621$3,107,431$2,826,326$4,345,647
62$4,619,545$3,203,871$2,865,184$4,688,475
63$5,033,156$3,303,278$2,903,585$5,063,507
64$5,487,141$3,405,742$2,941,459$5,473,953
65$5,985,562$3,511,356$2,978,730$5,923,352
66$6,532,892$3,620,216$3,015,320$6,415,598
67$7,134,059$3,732,418$3,051,146$6,954,982
68$7,794,492$3,848,065$3,086,118$7,546,232
69$8,520,171$3,967,261$3,120,143$8,194,554
70$9,317,684$4,090,113$3,153,124$8,905,684
71$10,194,290$4,216,730$3,184,955$9,685,942
72$11,157,985$4,347,227$3,215,529$10,542,288
73$12,217,579$4,481,721$3,244,729$11,482,391
74$13,382,778$4,620,332$3,272,433$12,514,700
75$14,664,276$4,763,183$3,298,515$13,648,525
76$16,073,856$4,910,402$3,322,838$14,894,119
77$17,624,498$5,062,120$3,345,262$16,262,784
78$19,330,505$5,218,473$3,365,637$17,766,967
79$21,207,637$5,379,598$3,383,806$19,420,386
80$23,273,257$5,545,640$3,399,604$21,238,153
81$25,546,497$5,716,744$3,412,859$23,236,920
82$28,048,438$5,893,062$3,423,388$25,435,035
83$30,802,307$6,074,751$3,430,999$27,852,714
84$33,833,698$6,261,969$3,435,493$30,512,233
85$37,170,811$6,454,882$3,436,659$33,438,136
86$40,844,722$6,653,659$3,434,275$36,657,470
87$44,889,670$6,858,474$3,428,109$40,200,035
88$49,343,384$7,069,508$3,417,919$44,098,669
89$54,247,439$7,286,943$3,403,449$48,389,556
90$59,647,644$7,510,970$3,384,431$53,112,568
91$65,594,481$7,741,784$3,360,586$58,311,640
92$72,143,571$7,979,586$3,331,620$64,035,185
93$79,356,211$8,224,580$3,297,224$70,336,552
94$87,299,940$8,476,981$3,257,077$77,274,527
95$96,049,186$8,737,005$3,210,841$84,913,889
96$105,685,962$9,004,877$3,158,163$93,326,020
97$116,300,641$9,280,827$3,098,672$102,589,581
98$127,992,811$9,565,091$3,031,982$112,791,252
99$140,872,211$9,857,915$2,957,687$124,026,550
100$155,059,770$10,159,546$2,875,364$136,400,732