Can I retire at age 56 with 2,570,000?

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 $2,570,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14%
1 years$212,228$210,338$208,493$206,693$204,935$201,540
2 years$105,063$103,107$101,210$99,372$97,588$94,178
3 years$69,347$67,381$65,490$63,668$61,914$58,594
4 years$51,492$49,532$47,660$45,870$44,158$40,954
5 years$40,781$38,834$36,986$35,232$33,568$30,490
6 years$33,644$31,711$29,890$28,175$26,561$23,612
7 years$28,547$26,631$24,839$23,165$21,601$18,782
8 years$24,727$22,828$21,065$19,432$17,920$15,230
9 years$21,757$19,875$18,144$16,552$15,092$12,529
10 years$19,382$17,519$15,818$14,268$12,859$10,422
11 years$17,440$15,596$13,926$12,417$11,059$8,746
12 years$15,824$13,998$12,359$10,892$9,583$7,390
13 years$14,457$12,650$11,042$9,616$8,357$6,281
14 years$13,286$11,499$9,921$8,536$7,326$5,363
15 years$12,272$10,505$8,957$7,612$6,450$4,597
16 years$11,386$9,638$8,121$6,816$5,701$3,953
17 years$10,605$8,876$7,390$6,124$5,055$3,409
18 years$9,912$8,202$6,746$5,519$4,494$2,947
19 years$9,292$7,601$6,176$4,987$4,006$2,552
20 years$8,735$7,064$5,668$4,517$3,578$2,214
21 years$8,231$6,579$5,213$4,099$3,202$1,924
22 years$7,774$6,142$4,805$3,727$2,870$1,673
23 years$7,358$5,744$4,436$3,394$2,576$1,457
24 years$6,976$5,382$4,103$3,096$2,316$1,270
25 years$6,626$5,051$3,800$2,827$2,084$1,108
26 years$6,303$4,747$3,524$2,585$1,877$967
27 years$6,005$4,467$3,273$2,366$1,692$845
28 years$5,728$4,209$3,042$2,168$1,527$739
29 years$5,471$3,971$2,831$1,988$1,379$646
30 years$5,231$3,750$2,637$1,825$1,246$565
31 years$5,008$3,545$2,459$1,676$1,126$494
32 years$4,799$3,355$2,294$1,540$1,019$433
33 years$4,602$3,177$2,142$1,416$922$379
34 years$4,418$3,011$2,001$1,303$835$332
35 years$4,245$2,856$1,871$1,199$756$291
36 years$4,082$2,711$1,750$1,105$685$255
37 years$3,928$2,574$1,638$1,018$621$223
38 years$3,782$2,447$1,534$938$563$195
39 years$3,644$2,327$1,437$865$510$171
40 years$3,514$2,213$1,347$798$463$150
41 years$3,390$2,107$1,263$736$420$132
42 years$3,272$2,007$1,185$679$381$115
43 years$3,160$1,912$1,112$627$346$101
44 years$3,054$1,822$1,044$579$314$89
45 years$2,952$1,738$980$535$285$78
46 years$2,855$1,658$920$494$259$68
47 years$2,763$1,582$865$456$235$60
48 years$2,674$1,510$813$422$213$52
49 years$2,590$1,442$764$390$194$46
50 years$2,509$1,378$718$360$176$40

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $2,570,000, adding $3,888 every year, while hoping to spend $45,194 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: 33/47/20 Blend
55$2,570,000$2,570,000$2,570,000$2,570,000
56$2,836,150$2,699,940$2,660,105$2,912,136
57$3,077,352$2,784,151$2,701,133$3,053,152
58$3,341,641$2,870,974$2,742,020$3,200,617
59$3,631,325$2,960,489$2,782,715$3,358,608
60$3,948,945$3,052,778$2,823,161$3,528,077
61$4,297,301$3,147,927$2,863,299$3,710,073
62$4,679,473$3,246,023$2,903,068$3,905,748
63$5,098,859$3,347,157$2,942,400$4,116,366
64$5,559,197$3,451,423$2,981,225$4,343,319
65$6,064,608$3,558,915$3,019,469$4,588,138
66$6,619,629$3,669,733$3,057,052$4,852,505
67$7,229,260$3,783,979$3,093,893$5,138,272
68$7,899,008$3,901,758$3,129,901$5,447,475
69$8,634,940$4,023,177$3,164,986$5,782,355
70$9,443,739$4,148,348$3,199,049$6,145,376
71$10,332,769$4,277,386$3,231,985$6,539,251
72$11,310,142$4,410,408$3,263,687$6,966,967
73$12,384,795$4,547,536$3,294,039$7,431,810
74$13,566,574$4,688,895$3,322,919$7,937,398
75$14,866,329$4,834,615$3,350,201$8,487,713
76$16,296,011$4,984,828$3,375,749$9,087,139
77$17,868,790$5,139,671$3,399,423$9,740,505
78$19,599,177$5,299,285$3,421,074$10,453,125
79$21,503,157$5,463,814$3,440,544$11,230,854
80$23,598,347$5,633,409$3,457,670$12,080,136
81$25,904,155$5,808,223$3,472,279$13,008,070
82$28,441,967$5,988,414$3,484,188$14,022,474
83$31,235,347$6,174,145$3,493,208$15,131,958
84$34,310,259$6,365,585$3,499,137$16,346,007
85$37,695,312$6,562,906$3,501,765$17,675,065
86$41,422,032$6,766,285$3,500,872$19,130,641
87$45,525,153$6,975,907$3,496,225$20,725,407
88$50,042,952$7,191,960$3,487,582$22,473,327
89$55,017,605$7,414,638$3,474,687$24,389,782
90$60,495,585$7,644,140$3,457,275$26,491,716
91$66,528,105$7,880,673$3,435,064$28,797,797
92$73,171,594$8,124,449$3,407,760$31,328,588
93$80,488,234$8,375,684$3,375,058$34,106,749
94$88,546,545$8,634,603$3,336,633$37,157,240
95$97,422,032$8,901,438$3,292,150$40,507,565
96$107,197,896$9,176,426$3,241,253$44,188,024
97$117,965,821$9,459,810$3,183,575$48,232,005
98$129,826,837$9,751,843$3,118,727$52,676,291
99$142,892,275$10,052,784$3,046,305$57,561,414
100$157,284,815$10,362,899$2,965,884$62,932,031