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

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 $2,570,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.8%
1 years$212,228$210,338$208,493$206,693$204,935$198,455
2 years$105,063$103,107$101,210$99,372$97,588$91,118
3 years$69,347$67,381$65,490$63,668$61,914$55,657
4 years$51,492$49,532$47,660$45,870$44,158$38,162
5 years$40,781$38,834$36,986$35,232$33,568$27,849
6 years$33,644$31,711$29,890$28,175$26,561$21,125
7 years$28,547$26,631$24,839$23,165$21,601$16,446
8 years$24,727$22,828$21,065$19,432$17,920$13,044
9 years$21,757$19,875$18,144$16,552$15,092$10,488
10 years$19,382$17,519$15,818$14,268$12,859$8,521
11 years$17,440$15,596$13,926$12,417$11,059$6,979
12 years$15,824$13,998$12,359$10,892$9,583$5,753
13 years$14,457$12,650$11,042$9,616$8,357$4,766
14 years$13,286$11,499$9,921$8,536$7,326$3,965
15 years$12,272$10,505$8,957$7,612$6,450$3,310
16 years$11,386$9,638$8,121$6,816$5,701$2,770
17 years$10,605$8,876$7,390$6,124$5,055$2,324
18 years$9,912$8,202$6,746$5,519$4,494$1,954
19 years$9,292$7,601$6,176$4,987$4,006$1,645
20 years$8,735$7,064$5,668$4,517$3,578$1,386
21 years$8,231$6,579$5,213$4,099$3,202$1,170
22 years$7,774$6,142$4,805$3,727$2,870$988
23 years$7,358$5,744$4,436$3,394$2,576$835
24 years$6,976$5,382$4,103$3,096$2,316$707
25 years$6,626$5,051$3,800$2,827$2,084$598
26 years$6,303$4,747$3,524$2,585$1,877$506
27 years$6,005$4,467$3,273$2,366$1,692$429
28 years$5,728$4,209$3,042$2,168$1,527$363
29 years$5,471$3,971$2,831$1,988$1,379$308
30 years$5,231$3,750$2,637$1,825$1,246$261
31 years$5,008$3,545$2,459$1,676$1,126$221
32 years$4,799$3,355$2,294$1,540$1,019$188
33 years$4,602$3,177$2,142$1,416$922$159
34 years$4,418$3,011$2,001$1,303$835$135
35 years$4,245$2,856$1,871$1,199$756$115
36 years$4,082$2,711$1,750$1,105$685$97
37 years$3,928$2,574$1,638$1,018$621$83
38 years$3,782$2,447$1,534$938$563$70
39 years$3,644$2,327$1,437$865$510$59
40 years$3,514$2,213$1,347$798$463$50
41 years$3,390$2,107$1,263$736$420$43
42 years$3,272$2,007$1,185$679$381$36
43 years$3,160$1,912$1,112$627$346$31
44 years$3,054$1,822$1,044$579$314$26
45 years$2,952$1,738$980$535$285$22
46 years$2,855$1,658$920$494$259$19
47 years$2,763$1,582$865$456$235$16
48 years$2,674$1,510$813$422$213$14
49 years$2,590$1,442$764$390$194$12
50 years$2,509$1,378$718$360$176$10

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 $5,462 every year, while hoping to spend $22,984 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: 33/43/24 Blend
55$2,570,000$2,570,000$2,570,000$2,570,000
56$2,837,774$2,701,564$2,661,729$2,910,441
57$3,102,772$2,809,486$2,726,442$3,073,431
58$3,394,030$2,921,926$2,792,553$3,246,514
59$3,714,201$3,039,080$2,860,084$3,432,593
60$4,066,210$3,161,156$2,929,057$3,632,829
61$4,453,279$3,288,368$2,999,496$3,848,496
62$4,878,957$3,420,941$3,071,422$4,080,993
63$5,347,154$3,559,111$3,144,858$4,331,854
64$5,862,179$3,703,123$3,219,827$4,602,761
65$6,428,780$3,853,234$3,296,350$4,895,562
66$7,052,187$4,009,714$3,374,449$5,212,288
67$7,738,163$4,172,843$3,454,146$5,555,164
68$8,493,059$4,342,915$3,535,462$5,926,640
69$9,323,870$4,520,237$3,618,419$6,329,402
70$10,238,306$4,705,130$3,703,038$6,766,404
71$11,244,861$4,897,930$3,789,338$7,240,893
72$12,352,897$5,098,988$3,877,340$7,756,435
73$13,572,725$5,308,671$3,967,064$8,316,951
74$14,915,710$5,527,364$4,058,528$8,926,753
75$16,394,375$5,755,467$4,151,751$9,590,580
76$18,022,518$5,993,401$4,246,751$10,313,643
77$19,815,342$6,241,605$4,343,545$11,101,675
78$21,789,602$6,500,539$4,442,149$11,960,980
79$23,963,759$6,770,683$4,542,578$12,898,491
80$26,358,156$7,052,540$4,644,848$13,921,837
81$28,995,210$7,346,636$4,748,972$15,039,411
82$31,899,621$7,653,521$4,854,963$16,260,448
83$35,098,610$7,973,771$4,962,831$17,595,108
84$38,622,170$8,307,988$5,072,588$19,054,573
85$42,503,353$8,656,801$5,184,242$20,651,150
86$46,778,582$9,020,871$5,297,801$22,398,383
87$51,487,990$9,400,887$5,413,270$24,311,180
88$56,675,805$9,797,570$5,530,654$26,405,951
89$62,390,762$10,211,676$5,649,956$28,700,761
90$68,686,566$10,643,995$5,771,176$31,215,498
91$75,622,399$11,095,353$5,894,314$33,972,055
92$83,263,476$11,566,618$6,019,365$36,994,538
93$91,681,662$12,058,693$6,146,325$40,309,490
94$100,956,149$12,572,527$6,275,185$43,946,136
95$111,174,208$13,109,113$6,405,936$47,936,656
96$122,432,006$13,669,487$6,538,563$52,316,489
97$134,835,516$14,254,738$6,673,051$57,124,660
98$148,501,522$14,866,003$6,809,381$62,404,145
99$163,558,712$15,504,473$6,947,530$68,202,276
100$180,148,902$16,171,393$7,087,474$74,571,182