Can I retire at age 56 with 2,580,000?

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 $2,580,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.5%
1 years$213,054$211,156$209,305$207,497$205,733$198,670
2 years$105,472$103,508$101,604$99,758$97,968$90,925
3 years$69,616$67,644$65,745$63,916$62,155$55,352
4 years$51,692$49,725$47,845$46,048$44,329$37,819
5 years$40,940$38,985$37,130$35,369$33,699$27,497
6 years$33,775$31,834$30,006$28,285$26,664$20,778
7 years$28,658$26,734$24,936$23,255$21,685$16,112
8 years$24,823$22,916$21,147$19,508$17,990$12,726
9 years$21,841$19,953$18,214$16,616$15,150$10,188
10 years$19,457$17,587$15,880$14,323$12,909$8,241
11 years$17,508$15,657$13,980$12,466$11,102$6,719
12 years$15,885$14,053$12,407$10,934$9,621$5,513
13 years$14,513$12,700$11,085$9,653$8,389$4,546
14 years$13,338$11,544$9,960$8,569$7,354$3,763
15 years$12,320$10,545$8,992$7,642$6,475$3,126
16 years$11,430$9,675$8,153$6,843$5,723$2,603
17 years$10,646$8,910$7,419$6,148$5,074$2,173
18 years$9,950$8,234$6,772$5,541$4,512$1,817
19 years$9,328$7,631$6,200$5,006$4,021$1,522
20 years$8,769$7,091$5,690$4,534$3,592$1,276
21 years$8,263$6,605$5,234$4,115$3,214$1,071
22 years$7,804$6,166$4,824$3,742$2,881$900
23 years$7,386$5,766$4,454$3,408$2,586$756
24 years$7,003$5,403$4,119$3,108$2,325$636
25 years$6,652$5,070$3,815$2,838$2,092$535
26 years$6,328$4,765$3,538$2,595$1,884$451
27 years$6,028$4,485$3,285$2,375$1,699$380
28 years$5,750$4,226$3,054$2,176$1,533$320
29 years$5,492$3,987$2,842$1,996$1,384$270
30 years$5,252$3,765$2,647$1,832$1,251$227
31 years$5,027$3,559$2,468$1,682$1,131$192
32 years$4,817$3,368$2,303$1,546$1,023$162
33 years$4,620$3,189$2,150$1,422$926$136
34 years$4,436$3,023$2,009$1,308$838$115
35 years$4,262$2,867$1,878$1,204$759$97
36 years$4,098$2,721$1,757$1,109$688$82
37 years$3,943$2,584$1,645$1,022$623$69
38 years$3,797$2,456$1,540$942$565$58
39 years$3,658$2,336$1,443$868$512$49
40 years$3,527$2,222$1,352$801$465$41
41 years$3,403$2,115$1,268$739$422$35
42 years$3,285$2,014$1,190$682$383$29
43 years$3,172$1,919$1,116$630$347$25
44 years$3,065$1,830$1,048$581$315$21
45 years$2,963$1,745$984$537$286$18
46 years$2,866$1,664$924$496$260$15
47 years$2,774$1,588$868$458$236$13
48 years$2,685$1,516$816$423$214$11
49 years$2,600$1,448$767$391$195$9
50 years$2,519$1,383$721$362$177$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $2,580,000, adding $4,991 every year, while hoping to spend $29,290 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: 65/24/11 Blend
55$2,580,000$2,580,000$2,580,000$2,580,000
56$2,848,308$2,711,568$2,671,578$3,026,205
57$3,107,671$2,813,271$2,729,912$3,247,192
58$3,392,508$2,918,975$2,789,218$3,484,654
59$3,705,385$3,028,846$2,849,498$3,743,365
60$4,049,131$3,143,057$2,910,753$4,025,393
61$4,426,862$3,261,786$2,972,983$4,333,016
62$4,842,010$3,385,221$3,036,186$4,668,739
63$5,298,357$3,513,559$3,100,360$5,035,320
64$5,800,069$3,647,003$3,165,501$5,435,794
65$6,351,735$3,785,766$3,231,605$5,873,502
66$6,958,414$3,930,070$3,298,666$6,352,123
67$7,625,676$4,080,147$3,366,675$6,875,704
68$8,359,660$4,236,239$3,435,623$7,448,702
69$9,167,130$4,398,599$3,505,501$8,076,025
70$10,055,537$4,567,491$3,576,296$8,763,076
71$11,033,093$4,743,189$3,647,992$9,515,804
72$12,108,844$4,925,981$3,720,576$10,340,760
73$13,292,758$5,116,166$3,794,027$11,245,157
74$14,595,819$5,314,058$3,868,327$12,236,939
75$16,030,130$5,519,983$3,943,453$13,324,856
76$17,609,024$5,734,284$4,019,379$14,518,543
77$19,347,196$5,957,315$4,096,080$15,828,610
78$21,260,836$6,189,450$4,173,525$17,266,746
79$23,367,784$6,431,076$4,251,681$18,845,824
80$25,687,699$6,682,600$4,330,513$20,580,024
81$28,242,242$6,944,445$4,409,983$22,484,963
82$31,055,282$7,217,054$4,490,049$24,577,847
83$34,153,121$7,500,889$4,570,665$26,877,626
84$37,564,740$7,796,433$4,651,783$29,405,177
85$41,322,076$8,104,191$4,733,351$32,183,496
86$45,460,321$8,424,690$4,815,312$35,237,919
87$50,018,255$8,758,481$4,897,605$38,596,355
88$55,038,608$9,106,137$4,980,166$42,289,549
89$60,568,470$9,468,262$5,062,926$46,351,376
90$66,659,729$9,845,482$5,145,809$50,819,153
91$73,369,565$10,238,454$5,228,737$55,733,994
92$80,760,986$10,647,864$5,311,625$61,141,196
93$88,903,426$11,074,428$5,394,384$67,090,663
94$97,873,396$11,518,896$5,476,917$73,637,380
95$107,755,210$11,982,050$5,559,121$80,841,925
96$118,641,780$12,464,709$5,640,890$88,771,046
97$130,635,489$12,967,727$5,722,107$97,498,282
98$143,849,162$13,491,999$5,802,651$107,104,661
99$158,407,129$14,038,459$5,882,392$117,679,461
100$174,446,397$14,608,085$5,961,193$129,321,051