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

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 $2,580,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.4%
1 years$213,054$211,156$209,305$207,497$205,733$199,547
2 years$105,472$103,508$101,604$99,758$97,968$91,788
3 years$69,616$67,644$65,745$63,916$62,155$56,174
4 years$51,692$49,725$47,845$46,048$44,329$38,594
5 years$40,940$38,985$37,130$35,369$33,699$28,224
6 years$33,775$31,834$30,006$28,285$26,664$21,456
7 years$28,658$26,734$24,936$23,255$21,685$16,743
8 years$24,823$22,916$21,147$19,508$17,990$13,310
9 years$21,841$19,953$18,214$16,616$15,150$10,728
10 years$19,457$17,587$15,880$14,323$12,909$8,738
11 years$17,508$15,657$13,980$12,466$11,102$7,175
12 years$15,885$14,053$12,407$10,934$9,621$5,930
13 years$14,513$12,700$11,085$9,653$8,389$4,926
14 years$13,338$11,544$9,960$8,569$7,354$4,110
15 years$12,320$10,545$8,992$7,642$6,475$3,440
16 years$11,430$9,675$8,153$6,843$5,723$2,888
17 years$10,646$8,910$7,419$6,148$5,074$2,430
18 years$9,950$8,234$6,772$5,541$4,512$2,049
19 years$9,328$7,631$6,200$5,006$4,021$1,730
20 years$8,769$7,091$5,690$4,534$3,592$1,463
21 years$8,263$6,605$5,234$4,115$3,214$1,238
22 years$7,804$6,166$4,824$3,742$2,881$1,049
23 years$7,386$5,766$4,454$3,408$2,586$890
24 years$7,003$5,403$4,119$3,108$2,325$755
25 years$6,652$5,070$3,815$2,838$2,092$641
26 years$6,328$4,765$3,538$2,595$1,884$544
27 years$6,028$4,485$3,285$2,375$1,699$463
28 years$5,750$4,226$3,054$2,176$1,533$393
29 years$5,492$3,987$2,842$1,996$1,384$334
30 years$5,252$3,765$2,647$1,832$1,251$285
31 years$5,027$3,559$2,468$1,682$1,131$242
32 years$4,817$3,368$2,303$1,546$1,023$206
33 years$4,620$3,189$2,150$1,422$926$175
34 years$4,436$3,023$2,009$1,308$838$149
35 years$4,262$2,867$1,878$1,204$759$127
36 years$4,098$2,721$1,757$1,109$688$108
37 years$3,943$2,584$1,645$1,022$623$92
38 years$3,797$2,456$1,540$942$565$78
39 years$3,658$2,336$1,443$868$512$67
40 years$3,527$2,222$1,352$801$465$57
41 years$3,403$2,115$1,268$739$422$48
42 years$3,285$2,014$1,190$682$383$41
43 years$3,172$1,919$1,116$630$347$35
44 years$3,065$1,830$1,048$581$315$30
45 years$2,963$1,745$984$537$286$25
46 years$2,866$1,664$924$496$260$22
47 years$2,774$1,588$868$458$236$18
48 years$2,685$1,516$816$423$214$16
49 years$2,600$1,448$767$391$195$13
50 years$2,519$1,383$721$362$177$11

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 $2,138 every year, while hoping to spend $48,249 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: 63/25/12 Blend
55$2,580,000$2,580,000$2,580,000$2,580,000
56$2,845,365$2,708,625$2,668,635$3,016,547
57$3,084,256$2,790,011$2,706,698$3,212,775
58$3,345,897$2,873,768$2,744,419$3,421,195
59$3,632,556$2,959,961$2,781,735$3,647,578
60$3,946,735$3,048,657$2,818,581$3,893,668
61$4,291,185$3,139,924$2,854,886$4,161,386
62$4,668,938$3,233,833$2,890,577$4,452,846
63$5,083,333$3,330,454$2,925,576$4,770,376
64$5,538,049$3,429,863$2,959,798$5,116,538
65$6,037,137$3,532,133$2,993,158$5,494,154
66$6,585,059$3,637,342$3,025,564$5,906,332
67$7,186,732$3,745,568$3,056,917$6,356,492
68$7,847,570$3,856,892$3,087,115$6,848,403
69$8,573,539$3,971,397$3,116,050$7,386,215
70$9,371,211$4,089,166$3,143,608$7,974,498
71$10,247,825$4,210,286$3,169,670$8,618,287
72$11,211,358$4,334,844$3,194,108$9,323,126
73$12,270,595$4,462,931$3,216,790$10,095,124
74$13,435,219$4,594,638$3,237,576$10,941,007
75$14,715,895$4,730,058$3,256,318$11,868,188
76$16,124,373$4,869,288$3,272,862$12,884,831
77$17,673,602$5,012,426$3,287,045$13,999,930
78$19,377,844$5,159,570$3,298,696$15,223,393
79$21,252,818$5,310,822$3,307,636$16,566,137
80$23,315,840$5,466,287$3,313,676$18,040,188
81$25,585,990$5,626,069$3,316,618$19,658,795
82$28,084,291$5,790,277$3,316,255$21,436,558
83$30,833,907$5,959,019$3,312,369$23,389,561
84$33,860,363$6,132,408$3,304,730$25,535,523
85$37,191,781$6,310,557$3,293,099$27,893,971
86$40,859,150$6,493,581$3,277,225$30,486,419
87$44,896,615$6,681,599$3,256,844$33,336,569
88$49,341,801$6,874,729$3,231,681$36,470,542
89$54,236,168$7,073,093$3,201,444$39,917,117
90$59,625,396$7,276,815$3,165,832$43,708,003
91$65,559,827$7,486,018$3,124,527$47,878,144
92$72,094,927$7,700,831$3,077,197$52,466,041
93$79,291,819$7,921,381$3,023,493$57,514,120
94$87,217,855$8,147,800$2,963,051$63,069,130
95$95,947,253$8,380,218$2,895,489$69,182,585
96$105,561,794$8,618,770$2,820,409$75,911,248
97$116,151,598$8,863,591$2,737,394$83,317,671
98$127,815,971$9,114,817$2,646,006$91,470,778
99$140,664,342$9,372,585$2,545,790$100,446,524
100$154,817,298$9,637,035$2,436,267$110,328,604