Can I retire at age 56 with 2,620,000?

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 $2,620,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.5%
1 years$216,357$214,430$212,550$210,714$208,922$205,885
2 years$107,108$105,113$103,179$101,305$99,487$96,433
3 years$70,696$68,692$66,764$64,907$63,119$60,144
4 years$52,493$50,496$48,587$46,762$45,017$42,143
5 years$41,575$39,590$37,706$35,918$34,221$31,457
6 years$34,298$32,328$30,472$28,724$27,078$24,427
7 years$29,103$27,149$25,322$23,615$22,022$19,485
8 years$25,208$23,272$21,475$19,810$18,269$15,846
9 years$22,180$20,262$18,497$16,874$15,385$13,075
10 years$19,759$17,860$16,126$14,546$13,109$10,909
11 years$17,780$15,900$14,197$12,659$11,274$9,183
12 years$16,132$14,271$12,599$11,104$9,770$7,785
13 years$14,738$12,897$11,257$9,803$8,520$6,638
14 years$13,544$11,723$10,114$8,702$7,468$5,687
15 years$12,511$10,709$9,132$7,761$6,576$4,891
16 years$11,608$9,825$8,279$6,949$5,812$4,221
17 years$10,811$9,049$7,534$6,243$5,153$3,653
18 years$10,104$8,361$6,877$5,627$4,582$3,169
19 years$9,472$7,749$6,296$5,084$4,084$2,755
20 years$8,905$7,201$5,778$4,605$3,648$2,399
21 years$8,391$6,707$5,315$4,179$3,264$2,092
22 years$7,925$6,261$4,898$3,800$2,926$1,827
23 years$7,501$5,856$4,523$3,460$2,627$1,597
24 years$7,112$5,487$4,183$3,156$2,361$1,398
25 years$6,755$5,149$3,874$2,882$2,124$1,224
26 years$6,426$4,839$3,593$2,635$1,914$1,073
27 years$6,121$4,554$3,336$2,412$1,725$941
28 years$5,839$4,291$3,102$2,210$1,557$826
29 years$5,577$4,048$2,886$2,027$1,406$725
30 years$5,333$3,823$2,689$1,860$1,270$637
31 years$5,105$3,614$2,506$1,708$1,148$559
32 years$4,892$3,420$2,339$1,570$1,039$492
33 years$4,692$3,239$2,184$1,444$940$432
34 years$4,504$3,070$2,040$1,328$851$380
35 years$4,328$2,911$1,907$1,223$771$334
36 years$4,161$2,763$1,784$1,126$698$294
37 years$4,004$2,625$1,670$1,038$633$259
38 years$3,856$2,494$1,564$956$574$228
39 years$3,715$2,372$1,465$882$520$201
40 years$3,582$2,257$1,373$813$472$177
41 years$3,456$2,148$1,288$750$428$155
42 years$3,336$2,046$1,208$693$389$137
43 years$3,222$1,949$1,134$639$353$121
44 years$3,113$1,858$1,064$590$320$106
45 years$3,009$1,772$999$545$291$93
46 years$2,911$1,690$938$504$264$82
47 years$2,817$1,613$882$465$240$72
48 years$2,726$1,540$828$430$218$64
49 years$2,640$1,470$779$397$198$56
50 years$2,558$1,405$732$367$180$50

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $2,620,000, adding $4,555 every year, while hoping to spend $28,965 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: 43/33/24 Blend
55$2,620,000$2,620,000$2,620,000$2,620,000
56$2,891,938$2,753,078$2,712,468$2,995,888
57$3,156,098$2,857,161$2,772,518$3,174,405
58$3,446,230$2,965,372$2,833,608$3,364,566
59$3,764,955$3,077,885$2,895,743$3,570,025
60$4,115,157$3,194,878$2,958,927$3,792,214
61$4,500,014$3,316,538$3,023,162$4,032,702
62$4,923,027$3,443,060$3,088,450$4,293,219
63$5,388,054$3,574,648$3,154,791$4,575,661
64$5,899,345$3,711,515$3,222,185$4,882,116
65$6,461,581$3,853,882$3,290,631$5,214,880
66$7,079,921$4,001,981$3,360,126$5,576,476
67$7,760,048$4,156,053$3,430,666$5,969,680
68$8,508,225$4,316,352$3,502,245$6,397,546
69$9,331,350$4,483,139$3,574,856$6,863,433
70$10,237,025$4,656,690$3,648,491$7,371,034
71$11,233,626$4,837,293$3,723,140$7,924,418
72$12,330,382$5,025,246$3,798,792$8,528,057
73$13,537,462$5,220,864$3,875,432$9,186,876
74$14,866,068$5,424,472$3,953,044$9,906,292
75$16,328,548$5,636,412$4,031,612$10,692,270
76$17,938,505$5,857,040$4,111,116$11,551,374
77$19,710,927$6,086,730$4,191,533$12,490,832
78$21,662,331$6,325,869$4,272,838$13,518,596
79$23,810,916$6,574,864$4,355,006$14,643,427
80$26,176,736$6,834,139$4,438,005$15,874,966
81$28,781,888$7,104,137$4,521,804$17,223,829
82$31,650,723$7,385,322$4,606,366$18,701,707
83$34,810,071$7,678,177$4,691,654$20,321,471
84$38,289,498$7,983,207$4,777,624$22,097,297
85$42,121,584$8,300,942$4,864,231$24,044,794
86$46,342,229$8,631,931$4,951,427$26,181,153
87$50,990,993$8,976,753$5,039,156$28,525,306
88$56,111,470$9,336,010$5,127,364$31,098,106
89$61,751,697$9,710,331$5,215,987$33,922,517
90$67,964,607$10,100,375$5,304,961$37,023,836
91$74,808,534$10,506,829$5,394,213$40,429,923
92$82,347,753$10,930,413$5,483,668$44,171,468
93$90,653,099$11,371,879$5,573,247$48,282,276
94$99,802,626$11,832,011$5,662,860$52,799,584
95$109,882,346$12,311,631$5,752,418$57,764,413
96$120,987,042$12,811,599$5,841,821$63,221,948
97$133,221,163$13,332,810$5,930,966$69,221,969
98$146,699,809$13,876,204$6,019,740$75,819,315
99$161,549,814$14,442,763$6,108,025$83,074,398
100$177,910,948$15,033,511$6,195,697$91,053,773