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

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 $2,560,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.3%
1 years$211,402$209,519$207,682$205,889$204,138$201,337
2 years$104,655$102,706$100,817$98,985$97,209$94,391
3 years$69,077$67,119$65,235$63,421$61,673$58,927
4 years$51,291$49,340$47,474$45,691$43,986$41,333
5 years$40,623$38,683$36,842$35,095$33,437$30,885
6 years$33,513$31,588$29,774$28,066$26,458$24,009
7 years$28,436$26,527$24,742$23,074$21,517$19,173
8 years$24,630$22,739$20,983$19,357$17,851$15,610
9 years$21,672$19,798$18,073$16,488$15,033$12,895
10 years$19,307$17,451$15,756$14,212$12,809$10,772
11 years$17,373$15,536$13,872$12,369$11,016$9,079
12 years$15,762$13,944$12,311$10,849$9,546$7,707
13 years$14,400$12,601$10,999$9,578$8,324$6,580
14 years$13,234$11,454$9,883$8,503$7,297$5,644
15 years$12,224$10,464$8,923$7,583$6,425$4,862
16 years$11,342$9,600$8,090$6,790$5,678$4,201
17 years$10,564$8,841$7,361$6,100$5,035$3,641
18 years$9,873$8,170$6,720$5,498$4,477$3,163
19 years$9,256$7,572$6,152$4,968$3,990$2,754
20 years$8,701$7,036$5,646$4,499$3,564$2,401
21 years$8,199$6,554$5,193$4,083$3,190$2,097
22 years$7,744$6,118$4,786$3,713$2,859$1,834
23 years$7,329$5,722$4,419$3,381$2,566$1,606
24 years$6,949$5,361$4,087$3,084$2,307$1,408
25 years$6,600$5,031$3,785$2,816$2,076$1,235
26 years$6,278$4,728$3,511$2,575$1,870$1,084
27 years$5,981$4,450$3,260$2,357$1,686$952
28 years$5,706$4,193$3,031$2,160$1,521$837
29 years$5,450$3,956$2,820$1,980$1,373$736
30 years$5,211$3,736$2,627$1,817$1,241$648
31 years$4,988$3,532$2,449$1,669$1,122$570
32 years$4,780$3,342$2,285$1,534$1,015$502
33 years$4,585$3,164$2,134$1,411$918$442
34 years$4,401$2,999$1,993$1,298$832$389
35 years$4,229$2,845$1,864$1,195$753$343
36 years$4,066$2,700$1,743$1,100$682$302
37 years$3,912$2,564$1,632$1,014$619$266
38 years$3,767$2,437$1,528$935$561$235
39 years$3,630$2,317$1,432$862$509$207
40 years$3,500$2,205$1,342$795$461$183
41 years$3,376$2,099$1,258$733$418$161
42 years$3,259$1,999$1,180$677$380$142
43 years$3,148$1,905$1,108$625$345$125
44 years$3,042$1,815$1,040$577$313$111
45 years$2,941$1,731$976$533$284$98
46 years$2,844$1,651$917$492$258$86
47 years$2,752$1,576$861$455$234$76
48 years$2,664$1,504$809$420$213$67
49 years$2,580$1,437$761$388$193$59
50 years$2,499$1,372$715$359$175$52

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 $2,425 every year, while hoping to spend $32,376 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: 86/6/8 Blend
55$2,560,000$2,560,000$2,560,000$2,560,000
56$2,823,621$2,687,941$2,648,261$3,063,906
57$3,077,183$2,785,203$2,702,530$3,318,269
58$3,355,523$2,886,145$2,757,532$3,593,059
59$3,661,134$2,990,914$2,813,257$3,893,999
60$3,996,763$3,099,662$2,869,695$4,223,700
61$4,365,435$3,212,547$2,926,832$4,585,038
62$4,770,483$3,329,736$2,984,655$4,981,182
63$5,215,579$3,451,400$3,043,147$5,415,620
64$5,704,768$3,577,718$3,102,292$5,892,197
65$6,242,506$3,708,878$3,162,071$6,415,145
66$6,833,702$3,845,074$3,222,461$6,989,129
67$7,483,766$3,986,509$3,283,440$7,619,285
68$8,198,657$4,133,395$3,344,982$8,311,273
69$8,984,941$4,285,951$3,407,059$9,071,327
70$9,849,851$4,444,409$3,469,642$9,906,314
71$10,801,358$4,609,007$3,532,697$10,823,801
72$11,848,243$4,779,996$3,596,189$11,832,123
73$13,000,183$4,957,635$3,660,081$12,940,464
74$14,267,839$5,142,196$3,724,330$14,158,941
75$15,662,957$5,333,962$3,788,894$15,498,702
76$17,198,480$5,533,228$3,853,724$16,972,027
77$18,888,671$5,740,302$3,918,770$18,592,449
78$20,749,244$5,955,505$3,983,977$20,374,875
79$22,797,514$6,179,172$4,049,287$22,335,734
80$25,052,561$6,411,651$4,114,638$24,493,122
81$27,535,408$6,653,308$4,179,964$26,866,984
82$30,269,221$6,904,522$4,245,195$29,479,291
83$33,279,527$7,165,689$4,310,254$32,354,255
84$36,594,454$7,437,223$4,375,063$35,518,553
85$40,244,996$7,719,555$4,439,535$39,001,580
86$44,265,308$8,013,135$4,503,582$42,835,724
87$48,693,024$8,318,434$4,567,107$47,056,676
88$53,569,616$8,635,940$4,630,009$51,703,761
89$58,940,782$8,966,167$4,692,179$56,820,313
90$64,856,880$9,309,647$4,753,505$62,454,079
91$71,373,400$9,666,938$4,813,866$68,657,676
92$78,551,491$10,038,622$4,873,134$75,489,081
93$86,458,533$10,425,305$4,931,175$83,012,180
94$95,168,780$10,827,621$4,987,846$91,297,372
95$104,764,054$11,246,233$5,042,997$100,422,231
96$115,334,520$11,681,830$5,096,469$110,472,239
97$126,979,535$12,135,135$5,148,096$121,541,593
98$139,808,591$12,606,899$5,197,700$133,734,089
99$153,942,340$13,097,910$5,245,096$147,164,110
100$169,513,740$13,608,989$5,290,088$161,957,697