Can I retire at age 56 with 2,550,000?

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 $2,550,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.8%
1 years$210,577$208,701$206,871$205,085$203,341$197,704
2 years$104,246$102,304$100,423$98,598$96,829$91,192
3 years$68,807$66,857$64,980$63,173$61,432$55,971
4 years$51,091$49,147$47,289$45,513$43,814$38,571
5 years$40,464$38,532$36,698$34,958$33,307$28,297
6 years$33,382$31,464$29,658$27,956$26,354$21,582
7 years$28,325$26,424$24,646$22,984$21,433$16,898
8 years$24,534$22,650$20,901$19,281$17,781$13,481
9 years$21,587$19,721$18,002$16,423$14,974$10,906
10 years$19,231$17,383$15,695$14,157$12,759$8,916
11 years$17,305$15,475$13,818$12,321$10,973$7,350
12 years$15,701$13,889$12,263$10,807$9,509$6,098
13 years$14,344$12,552$10,956$9,541$8,292$5,087
14 years$13,183$11,409$9,844$8,469$7,269$4,261
15 years$12,177$10,423$8,888$7,553$6,400$3,582
16 years$11,297$9,563$8,058$6,763$5,656$3,020
17 years$10,522$8,807$7,332$6,077$5,015$2,552
18 years$9,834$8,138$6,694$5,476$4,459$2,161
19 years$9,219$7,542$6,128$4,948$3,975$1,833
20 years$8,667$7,009$5,624$4,482$3,550$1,557
21 years$8,167$6,528$5,173$4,067$3,177$1,324
22 years$7,714$6,094$4,767$3,698$2,848$1,127
23 years$7,300$5,699$4,402$3,368$2,556$961
24 years$6,922$5,340$4,071$3,072$2,298$819
25 years$6,574$5,011$3,771$2,805$2,068$699
26 years$6,254$4,710$3,497$2,565$1,862$596
27 years$5,958$4,433$3,247$2,348$1,679$509
28 years$5,683$4,177$3,019$2,151$1,515$435
29 years$5,428$3,940$2,809$1,973$1,368$372
30 years$5,191$3,721$2,617$1,810$1,236$318
31 years$4,969$3,518$2,439$1,663$1,118$272
32 years$4,761$3,328$2,276$1,528$1,011$232
33 years$4,567$3,152$2,125$1,405$915$199
34 years$4,384$2,988$1,986$1,293$828$170
35 years$4,212$2,834$1,856$1,190$750$145
36 years$4,050$2,690$1,737$1,096$680$124
37 years$3,897$2,554$1,625$1,010$616$106
38 years$3,753$2,428$1,522$931$559$91
39 years$3,616$2,308$1,426$858$507$78
40 years$3,486$2,196$1,337$792$459$67
41 years$3,363$2,091$1,253$730$417$57
42 years$3,247$1,991$1,176$674$378$49
43 years$3,135$1,897$1,103$622$343$42
44 years$3,030$1,808$1,036$575$312$36
45 years$2,929$1,724$972$531$283$31
46 years$2,833$1,645$913$490$257$26
47 years$2,741$1,570$858$453$233$22
48 years$2,654$1,499$806$418$212$19
49 years$2,570$1,431$758$387$192$16
50 years$2,490$1,367$713$357$175$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $2,550,000, adding $3,736 every year, while hoping to spend $42,800 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: 68/18/14 Blend
55$2,550,000$2,550,000$2,550,000$2,550,000
56$2,813,954$2,678,804$2,639,279$2,996,034
57$3,055,438$2,764,526$2,682,156$3,203,476
58$3,320,119$2,853,015$2,725,035$3,424,849
59$3,610,319$2,944,359$2,767,870$3,665,881
60$3,928,592$3,038,654$2,810,615$3,928,498
61$4,277,755$3,135,994$2,853,217$4,214,821
62$4,660,908$3,236,480$2,895,622$4,527,185
63$5,081,468$3,340,215$2,937,772$4,868,160
64$5,543,197$3,447,305$2,979,607$5,240,579
65$6,050,240$3,557,860$3,021,061$5,647,557
66$6,607,164$3,671,994$3,062,066$6,092,529
67$7,218,997$3,789,824$3,102,547$6,579,276
68$7,891,281$3,911,472$3,142,429$7,111,961
69$8,630,120$4,037,063$3,181,629$7,695,170
70$9,442,240$4,166,726$3,220,061$8,333,957
71$10,335,049$4,300,597$3,257,634$9,033,884
72$11,316,710$4,438,812$3,294,251$9,801,081
73$12,396,217$4,581,516$3,329,810$10,642,300
74$13,583,477$4,728,856$3,364,205$11,564,977
75$14,889,407$4,880,986$3,397,321$12,577,307
76$16,326,035$5,038,062$3,429,040$13,688,315
77$17,906,613$5,200,250$3,459,235$14,907,945
78$19,645,743$5,367,718$3,487,775$16,247,151
79$21,559,513$5,540,640$3,514,520$17,718,003
80$23,665,650$5,719,197$3,539,322$19,333,796
81$25,983,684$5,903,577$3,562,028$21,109,181
82$28,535,139$6,093,971$3,582,475$23,060,298
83$31,343,728$6,290,580$3,600,492$25,204,930
84$34,435,579$6,493,609$3,615,900$27,562,672
85$37,839,485$6,703,274$3,628,510$30,155,111
86$41,587,172$6,919,793$3,638,123$33,006,035
87$45,713,596$7,143,395$3,644,533$36,141,652
88$50,257,278$7,374,317$3,647,520$39,590,842
89$55,260,664$7,612,802$3,646,856$43,385,425
90$60,770,525$7,859,103$3,642,299$47,560,463
91$66,838,401$8,113,481$3,633,598$52,154,589
92$73,521,082$8,376,206$3,620,488$57,210,375
93$80,881,149$8,647,557$3,602,691$62,774,729
94$88,987,562$8,927,823$3,579,917$68,899,338
95$97,916,310$9,217,303$3,551,861$75,641,159
96$107,751,129$9,516,306$3,518,203$83,062,953
97$118,584,290$9,825,151$3,478,610$91,233,877
98$130,517,475$10,144,171$3,432,730$100,230,138
99$143,662,728$10,473,706$3,380,198$110,135,711
100$158,143,521$10,814,111$3,320,628$121,043,131