Can I retire at age 56 with 2,590,000?

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 $2,590,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.8%
1 years$213,880$211,975$210,116$208,302$206,530$200,805
2 years$105,881$103,909$101,998$100,145$98,348$92,622
3 years$69,886$67,906$65,999$64,164$62,396$56,849
4 years$51,892$49,918$48,031$46,226$44,501$39,177
5 years$41,099$39,136$37,274$35,506$33,829$28,741
6 years$33,905$31,958$30,123$28,395$26,768$21,921
7 years$28,769$26,838$25,032$23,345$21,769$17,164
8 years$24,919$23,005$21,229$19,583$18,060$13,693
9 years$21,926$20,030$18,285$16,681$15,209$11,077
10 years$19,533$17,656$15,941$14,379$12,959$9,056
11 years$17,576$15,718$14,034$12,514$11,145$7,465
12 years$15,947$14,107$12,455$10,976$9,658$6,194
13 years$14,569$12,749$11,128$9,691$8,422$5,167
14 years$13,389$11,588$9,998$8,602$7,383$4,328
15 years$12,368$10,586$9,027$7,672$6,500$3,639
16 years$11,475$9,713$8,184$6,869$5,745$3,068
17 years$10,688$8,945$7,448$6,172$5,094$2,592
18 years$9,989$8,266$6,799$5,562$4,529$2,195
19 years$9,364$7,660$6,224$5,026$4,037$1,862
20 years$8,803$7,118$5,712$4,552$3,606$1,582
21 years$8,295$6,631$5,254$4,131$3,227$1,345
22 years$7,835$6,189$4,842$3,756$2,892$1,145
23 years$7,415$5,789$4,471$3,421$2,596$976
24 years$7,030$5,424$4,135$3,120$2,334$832
25 years$6,677$5,090$3,830$2,849$2,100$710
26 years$6,352$4,784$3,552$2,605$1,892$606
27 years$6,051$4,502$3,298$2,385$1,705$517
28 years$5,773$4,242$3,066$2,185$1,539$442
29 years$5,513$4,002$2,853$2,004$1,390$378
30 years$5,272$3,780$2,658$1,839$1,256$323
31 years$5,047$3,573$2,478$1,689$1,135$276
32 years$4,836$3,381$2,312$1,552$1,027$236
33 years$4,638$3,202$2,159$1,427$929$202
34 years$4,453$3,034$2,017$1,313$841$173
35 years$4,278$2,878$1,886$1,209$762$148
36 years$4,114$2,732$1,764$1,113$690$126
37 years$3,958$2,594$1,651$1,026$626$108
38 years$3,811$2,466$1,546$945$567$93
39 years$3,673$2,345$1,448$872$514$79
40 years$3,541$2,231$1,358$804$467$68
41 years$3,416$2,123$1,273$742$423$58
42 years$3,297$2,022$1,194$685$384$50
43 years$3,185$1,927$1,121$632$349$43
44 years$3,077$1,837$1,052$584$316$36
45 years$2,975$1,751$988$539$287$31
46 years$2,877$1,671$928$498$261$27
47 years$2,784$1,594$871$460$237$23
48 years$2,695$1,522$819$425$215$20
49 years$2,610$1,454$770$393$195$17
50 years$2,529$1,388$724$363$177$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $2,590,000, adding $3,556 every year, while hoping to spend $23,981 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: 62/29/9 Blend
55$2,590,000$2,590,000$2,590,000$2,590,000
56$2,857,848$2,720,578$2,680,433$3,029,248
57$3,123,833$2,828,371$2,744,712$3,252,099
58$3,416,145$2,940,642$2,810,340$3,492,141
59$3,737,443$3,057,585$2,877,338$3,753,538
60$4,090,658$3,179,403$2,945,726$4,038,358
61$4,479,020$3,306,308$3,015,522$4,348,871
62$4,906,084$3,438,521$3,086,746$4,687,577
63$5,375,771$3,576,275$3,159,418$5,057,226
64$5,892,397$3,719,810$3,233,556$5,460,845
65$6,460,721$3,869,380$3,309,180$5,901,761
66$7,085,983$4,025,248$3,386,306$6,383,639
67$7,773,960$4,187,692$3,464,954$6,910,511
68$8,531,015$4,356,999$3,545,140$7,486,812
69$9,364,158$4,533,472$3,626,883$8,117,428
70$10,281,116$4,717,426$3,710,197$8,807,735
71$11,290,401$4,909,191$3,795,100$9,563,649
72$12,401,392$5,109,112$3,881,606$10,391,687
73$13,624,425$5,317,549$3,969,730$11,299,020
74$14,970,886$5,534,879$4,059,486$12,293,545
75$16,453,325$5,761,496$4,150,887$13,383,957
76$18,085,568$5,997,814$4,243,946$14,579,830
77$19,882,851$6,244,261$4,338,673$15,891,705
78$21,861,962$6,501,291$4,435,079$17,331,192
79$24,041,401$6,769,373$4,533,173$18,911,073
80$26,441,553$7,049,001$4,632,963$20,645,428
81$29,084,880$7,340,690$4,734,456$22,549,762
82$31,996,134$7,644,981$4,837,657$24,641,151
83$35,202,591$7,962,436$4,942,570$26,938,403
84$38,734,307$8,293,647$5,049,197$29,462,232
85$42,624,400$8,639,230$5,157,539$32,235,457
86$46,909,368$8,999,831$5,267,596$35,283,207
87$51,629,427$9,376,126$5,379,364$38,633,168
88$56,828,894$9,768,821$5,492,837$42,315,832
89$62,556,604$10,178,657$5,608,011$46,364,791
90$68,866,372$10,606,406$5,724,874$50,817,047
91$75,817,500$11,052,878$5,843,415$55,713,363
92$83,475,336$11,518,920$5,963,621$61,098,644
93$91,911,892$12,005,418$6,085,473$67,022,360
94$101,206,521$12,513,300$6,208,953$73,539,008
95$111,446,671$13,043,536$6,334,037$80,708,629
96$122,728,704$13,597,141$6,460,700$88,597,370
97$135,158,810$14,175,180$6,588,912$97,278,103
98$148,854,008$14,778,763$6,718,639$106,831,116
99$163,943,249$15,409,055$6,849,847$117,344,866
100$180,568,637$16,067,275$6,982,493$128,916,809