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%19.7%
1 years$216,357$214,430$212,550$210,714$208,922$200,792
2 years$107,108$105,113$103,179$101,305$99,487$91,394
3 years$70,696$68,692$66,764$64,907$63,119$55,317
4 years$52,493$50,496$48,587$46,762$45,017$37,567
5 years$41,575$39,590$37,706$35,918$34,221$27,142
6 years$34,298$32,328$30,472$28,724$27,078$20,374
7 years$29,103$27,149$25,322$23,615$22,022$15,691
8 years$25,208$23,272$21,475$19,810$18,269$12,305
9 years$22,180$20,262$18,497$16,874$15,385$9,779
10 years$19,759$17,860$16,126$14,546$13,109$7,850
11 years$17,780$15,900$14,197$12,659$11,274$6,351
12 years$16,132$14,271$12,599$11,104$9,770$5,169
13 years$14,738$12,897$11,257$9,803$8,520$4,228
14 years$13,544$11,723$10,114$8,702$7,468$3,471
15 years$12,511$10,709$9,132$7,761$6,576$2,858
16 years$11,608$9,825$8,279$6,949$5,812$2,360
17 years$10,811$9,049$7,534$6,243$5,153$1,952
18 years$10,104$8,361$6,877$5,627$4,582$1,618
19 years$9,472$7,749$6,296$5,084$4,084$1,343
20 years$8,905$7,201$5,778$4,605$3,648$1,115
21 years$8,391$6,707$5,315$4,179$3,264$927
22 years$7,925$6,261$4,898$3,800$2,926$772
23 years$7,501$5,856$4,523$3,460$2,627$643
24 years$7,112$5,487$4,183$3,156$2,361$536
25 years$6,755$5,149$3,874$2,882$2,124$446
26 years$6,426$4,839$3,593$2,635$1,914$372
27 years$6,121$4,554$3,336$2,412$1,725$311
28 years$5,839$4,291$3,102$2,210$1,557$259
29 years$5,577$4,048$2,886$2,027$1,406$216
30 years$5,333$3,823$2,689$1,860$1,270$180
31 years$5,105$3,614$2,506$1,708$1,148$151
32 years$4,892$3,420$2,339$1,570$1,039$126
33 years$4,692$3,239$2,184$1,444$940$105
34 years$4,504$3,070$2,040$1,328$851$88
35 years$4,328$2,911$1,907$1,223$771$73
36 years$4,161$2,763$1,784$1,126$698$61
37 years$4,004$2,625$1,670$1,038$633$51
38 years$3,856$2,494$1,564$956$574$43
39 years$3,715$2,372$1,465$882$520$36
40 years$3,582$2,257$1,373$813$472$30
41 years$3,456$2,148$1,288$750$428$25
42 years$3,336$2,046$1,208$693$389$21
43 years$3,222$1,949$1,134$639$353$17
44 years$3,113$1,858$1,064$590$320$14
45 years$3,009$1,772$999$545$291$12
46 years$2,911$1,690$938$504$264$10
47 years$2,817$1,613$882$465$240$8
48 years$2,726$1,540$828$430$218$7
49 years$2,640$1,470$779$397$198$6
50 years$2,558$1,405$732$367$180$5

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 $4,542 every year, while hoping to spend $58,540 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: 40/36/24 Blend
55$2,620,000$2,620,000$2,620,000$2,620,000
56$2,891,925$2,753,065$2,712,455$2,986,914
57$3,124,615$2,825,679$2,741,036$3,128,447
58$3,379,078$2,899,889$2,768,613$3,275,610
59$3,657,472$2,975,712$2,795,089$3,433,661
60$3,962,175$3,053,162$2,820,365$3,603,631
61$4,295,804$3,132,254$2,844,335$3,786,651
62$4,661,242$3,213,001$2,866,886$3,983,971
63$5,061,663$3,295,413$2,887,902$4,196,964
64$5,500,564$3,379,500$2,907,258$4,427,144
65$5,981,796$3,465,269$2,924,825$4,676,180
66$6,509,598$3,552,727$2,940,466$4,945,910
67$7,088,643$3,641,876$2,954,037$5,238,358
68$7,724,075$3,732,718$2,965,388$5,555,755
69$8,421,561$3,825,252$2,974,359$5,900,560
70$9,187,344$3,919,473$2,980,783$6,275,481
71$10,028,301$4,015,375$2,984,487$6,683,505
72$10,952,006$4,112,947$2,985,286$7,127,921
73$11,966,805$4,212,176$2,982,988$7,612,355
74$13,081,891$4,313,044$2,977,390$8,140,803
75$14,307,392$4,415,531$2,968,280$8,717,668
76$15,654,465$4,519,611$2,955,436$9,347,805
77$17,135,402$4,625,254$2,938,626$10,036,562
78$18,763,747$4,732,425$2,917,603$10,789,837
79$20,554,420$4,841,085$2,892,114$11,614,128
80$22,523,859$4,951,187$2,861,888$12,516,597
81$24,690,178$5,062,680$2,826,647$13,505,139
82$27,073,331$5,175,506$2,786,094$14,588,456
83$29,695,305$5,289,600$2,739,923$15,776,140
84$32,580,326$5,404,890$2,687,810$17,078,762
85$35,755,087$5,521,297$2,629,419$18,507,974
86$39,248,998$5,638,733$2,564,396$20,076,621
87$43,094,464$5,757,099$2,492,372$21,798,858
88$47,327,193$5,876,291$2,412,961$23,690,290
89$51,986,529$5,996,192$2,325,757$25,768,116
90$57,115,824$6,116,674$2,230,339$28,051,293
91$62,762,848$6,237,600$2,126,265$30,560,715
92$68,980,236$6,358,820$2,013,072$33,319,415
93$75,825,988$6,480,170$1,890,278$36,352,778
94$83,364,014$6,601,474$1,757,378$39,688,783
95$91,664,738$6,722,541$1,613,845$43,358,271
96$100,805,760$6,843,165$1,459,127$47,395,234
97$110,872,590$6,963,122$1,292,650$51,837,137
98$121,959,453$7,082,173$1,113,813$56,725,277
99$134,170,178$7,200,061$921,987$62,105,168
100$147,619,179$7,316,507$716,516$68,026,978