Can I retire at age 56 with 2,560,000?

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 $2,560,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.4%
1 years$211,402$209,519$207,682$205,889$204,138$199,609
2 years$104,655$102,706$100,817$98,985$97,209$92,669
3 years$69,077$67,119$65,235$63,421$61,673$57,265
4 years$51,291$49,340$47,474$45,691$43,986$39,743
5 years$40,623$38,683$36,842$35,095$33,437$29,372
6 years$33,513$31,588$29,774$28,066$26,458$22,574
7 years$28,436$26,527$24,742$23,074$21,517$17,815
8 years$24,630$22,739$20,983$19,357$17,851$14,330
9 years$21,672$19,798$18,073$16,488$15,033$11,690
10 years$19,307$17,451$15,756$14,212$12,809$9,641
11 years$17,373$15,536$13,872$12,369$11,016$8,019
12 years$15,762$13,944$12,311$10,849$9,546$6,715
13 years$14,400$12,601$10,999$9,578$8,324$5,654
14 years$13,234$11,454$9,883$8,503$7,297$4,782
15 years$12,224$10,464$8,923$7,583$6,425$4,060
16 years$11,342$9,600$8,090$6,790$5,678$3,457
17 years$10,564$8,841$7,361$6,100$5,035$2,951
18 years$9,873$8,170$6,720$5,498$4,477$2,525
19 years$9,256$7,572$6,152$4,968$3,990$2,164
20 years$8,701$7,036$5,646$4,499$3,564$1,858
21 years$8,199$6,554$5,193$4,083$3,190$1,597
22 years$7,744$6,118$4,786$3,713$2,859$1,375
23 years$7,329$5,722$4,419$3,381$2,566$1,184
24 years$6,949$5,361$4,087$3,084$2,307$1,021
25 years$6,600$5,031$3,785$2,816$2,076$881
26 years$6,278$4,728$3,511$2,575$1,870$760
27 years$5,981$4,450$3,260$2,357$1,686$657
28 years$5,706$4,193$3,031$2,160$1,521$567
29 years$5,450$3,956$2,820$1,980$1,373$490
30 years$5,211$3,736$2,627$1,817$1,241$424
31 years$4,988$3,532$2,449$1,669$1,122$367
32 years$4,780$3,342$2,285$1,534$1,015$317
33 years$4,585$3,164$2,134$1,411$918$275
34 years$4,401$2,999$1,993$1,298$832$238
35 years$4,229$2,845$1,864$1,195$753$206
36 years$4,066$2,700$1,743$1,100$682$178
37 years$3,912$2,564$1,632$1,014$619$154
38 years$3,767$2,437$1,528$935$561$134
39 years$3,630$2,317$1,432$862$509$116
40 years$3,500$2,205$1,342$795$461$100
41 years$3,376$2,099$1,258$733$418$87
42 years$3,259$1,999$1,180$677$380$75
43 years$3,148$1,905$1,108$625$345$65
44 years$3,042$1,815$1,040$577$313$56
45 years$2,941$1,731$976$533$284$49
46 years$2,844$1,651$917$492$258$42
47 years$2,752$1,576$861$455$234$37
48 years$2,664$1,504$809$420$213$32
49 years$2,580$1,437$761$388$193$28
50 years$2,499$1,372$715$359$175$24

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $2,560,000, adding $3,533 every year, while hoping to spend $20,376 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: 47/46/7 Blend
55$2,560,000$2,560,000$2,560,000$2,560,000
56$2,824,764$2,689,084$2,649,404$2,952,055
57$3,091,210$2,799,170$2,716,479$3,149,875
58$3,384,151$2,913,966$2,785,119$3,362,010
59$3,706,267$3,033,683$2,855,353$3,591,748
60$4,060,512$3,158,540$2,927,213$3,840,726
61$4,450,141$3,288,765$3,000,732$4,110,742
62$4,878,739$3,424,598$3,075,940$4,403,772
63$5,350,257$3,566,289$3,152,870$4,721,985
64$5,869,046$3,714,101$3,231,554$5,067,764
65$6,439,904$3,868,307$3,312,026$5,443,729
66$7,068,114$4,029,193$3,394,319$5,852,755
67$7,759,499$4,197,061$3,478,465$6,298,007
68$8,520,473$4,372,222$3,564,500$6,782,960
69$9,358,106$4,555,006$3,652,456$7,311,438
70$10,280,188$4,745,756$3,742,367$7,887,642
71$11,295,299$4,944,830$3,834,269$8,516,193
72$12,412,897$5,152,605$3,928,195$9,202,173
73$13,643,404$5,369,473$4,024,180$9,951,173
74$14,998,300$5,595,846$4,122,259$10,769,339
75$16,490,238$5,832,154$4,222,466$11,663,435
76$18,133,161$6,078,848$4,324,837$12,640,903
77$19,942,430$6,336,399$4,429,406$13,709,930
78$21,934,976$6,605,300$4,536,209$14,879,523
79$24,129,451$6,886,067$4,645,280$16,159,597
80$26,546,411$7,179,241$4,756,653$17,561,061
81$29,208,508$7,485,387$4,870,364$19,095,923
82$32,140,701$7,805,096$4,986,446$20,777,398
83$35,370,495$8,138,988$5,104,934$22,620,034
84$38,928,198$8,487,711$5,225,862$24,639,844
85$42,847,209$8,851,944$5,349,264$26,854,456
86$47,164,332$9,232,397$5,475,172$29,283,278
87$51,920,123$9,629,814$5,603,619$31,947,676
88$57,159,273$10,044,972$5,734,637$34,871,176
89$62,931,030$10,478,687$5,868,259$38,079,682
90$69,289,664$10,931,811$6,004,514$41,601,715
91$76,294,978$11,405,238$6,143,434$45,468,683
92$84,012,874$11,899,903$6,285,047$49,715,173
93$92,515,973$12,416,784$6,429,382$54,379,274
94$101,884,303$12,956,907$6,576,467$59,502,930
95$112,206,050$13,521,344$6,726,327$65,132,338
96$123,578,397$14,111,219$6,878,989$71,318,375
97$136,108,434$14,727,710$7,034,476$78,117,079
98$149,914,173$15,372,047$7,192,810$85,590,169
99$165,125,663$16,045,521$7,354,013$93,805,626
100$181,886,212$16,749,483$7,518,103$102,838,328