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

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 $2,620,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.2%
1 years$216,357$214,430$212,550$210,714$208,922$201,992
2 years$107,108$105,113$103,179$101,305$99,487$92,572
3 years$70,696$68,692$66,764$64,907$63,119$56,436
4 years$52,493$50,496$48,587$46,762$45,017$38,618
5 years$41,575$39,590$37,706$35,918$34,221$28,123
6 years$34,298$32,328$30,472$28,724$27,078$21,285
7 years$29,103$27,149$25,322$23,615$22,022$16,534
8 years$25,208$23,272$21,475$19,810$18,269$13,082
9 years$22,180$20,262$18,497$16,874$15,385$10,493
10 years$19,759$17,860$16,126$14,546$13,109$8,504
11 years$17,780$15,900$14,197$12,659$11,274$6,947
12 years$16,132$14,271$12,599$11,104$9,770$5,711
13 years$14,738$12,897$11,257$9,803$8,520$4,719
14 years$13,544$11,723$10,114$8,702$7,468$3,915
15 years$12,511$10,709$9,132$7,761$6,576$3,259
16 years$11,608$9,825$8,279$6,949$5,812$2,720
17 years$10,811$9,049$7,534$6,243$5,153$2,275
18 years$10,104$8,361$6,877$5,627$4,582$1,907
19 years$9,472$7,749$6,296$5,084$4,084$1,600
20 years$8,905$7,201$5,778$4,605$3,648$1,345
21 years$8,391$6,707$5,315$4,179$3,264$1,131
22 years$7,925$6,261$4,898$3,800$2,926$953
23 years$7,501$5,856$4,523$3,460$2,627$803
24 years$7,112$5,487$4,183$3,156$2,361$677
25 years$6,755$5,149$3,874$2,882$2,124$571
26 years$6,426$4,839$3,593$2,635$1,914$482
27 years$6,121$4,554$3,336$2,412$1,725$407
28 years$5,839$4,291$3,102$2,210$1,557$344
29 years$5,577$4,048$2,886$2,027$1,406$290
30 years$5,333$3,823$2,689$1,860$1,270$245
31 years$5,105$3,614$2,506$1,708$1,148$207
32 years$4,892$3,420$2,339$1,570$1,039$175
33 years$4,692$3,239$2,184$1,444$940$148
34 years$4,504$3,070$2,040$1,328$851$125
35 years$4,328$2,911$1,907$1,223$771$106
36 years$4,161$2,763$1,784$1,126$698$90
37 years$4,004$2,625$1,670$1,038$633$76
38 years$3,856$2,494$1,564$956$574$64
39 years$3,715$2,372$1,465$882$520$54
40 years$3,582$2,257$1,373$813$472$46
41 years$3,456$2,148$1,288$750$428$39
42 years$3,336$2,046$1,208$693$389$33
43 years$3,222$1,949$1,134$639$353$28
44 years$3,113$1,858$1,064$590$320$23
45 years$3,009$1,772$999$545$291$20
46 years$2,911$1,690$938$504$264$17
47 years$2,817$1,613$882$465$240$14
48 years$2,726$1,540$828$430$218$12
49 years$2,640$1,470$779$397$198$10
50 years$2,558$1,405$732$367$180$9

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 $5,055 every year, while hoping to spend $43,849 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: 61/14/25 Blend
55$2,620,000$2,620,000$2,620,000$2,620,000
56$2,892,454$2,753,594$2,712,984$3,049,322
57$3,140,830$2,841,865$2,757,214$3,244,694
58$3,413,070$2,932,992$2,801,456$3,452,627
59$3,711,562$3,027,068$2,845,664$3,678,635
60$4,038,937$3,124,190$2,889,790$3,924,488
61$4,398,092$3,224,458$2,933,781$4,192,136
62$4,792,216$3,327,976$2,977,582$4,483,722
63$5,224,825$3,434,850$3,021,133$4,801,612
64$5,699,790$3,545,190$3,064,374$5,148,407
65$6,221,375$3,659,111$3,107,238$5,526,974
66$6,794,279$3,776,731$3,149,653$5,940,470
67$7,423,676$3,898,171$3,191,547$6,392,372
68$8,115,267$4,023,558$3,232,840$6,886,513
69$8,875,334$4,153,022$3,273,450$7,427,110
70$9,710,795$4,286,697$3,313,287$8,018,814
71$10,629,273$4,424,723$3,352,260$8,666,744
72$11,639,168$4,567,243$3,390,270$9,376,542
73$12,749,732$4,714,407$3,427,213$10,154,424
74$13,971,160$4,866,367$3,462,979$11,007,237
75$15,314,683$5,023,284$3,497,454$11,942,526
76$16,792,677$5,185,322$3,530,515$12,968,601
77$18,418,778$5,352,650$3,562,035$14,094,621
78$20,208,008$5,525,445$3,591,878$15,330,676
79$22,176,920$5,703,887$3,619,901$16,687,884
80$24,343,754$5,888,166$3,645,956$18,178,493
81$26,728,606$6,078,475$3,669,885$19,816,002
82$29,353,620$6,275,016$3,691,522$21,615,283
83$32,243,193$6,477,996$3,710,692$23,592,722
84$35,424,212$6,687,631$3,727,213$25,766,376
85$38,926,299$6,904,142$3,740,892$28,156,143
86$42,782,097$7,127,760$3,751,527$30,783,947
87$47,027,573$7,358,723$3,758,906$33,673,947
88$51,702,362$7,597,277$3,762,805$36,852,764
89$56,850,135$7,843,676$3,762,992$40,349,732
90$62,519,017$8,098,183$3,759,220$44,197,177
91$68,762,034$8,361,072$3,751,231$48,430,719
92$75,637,621$8,632,624$3,738,757$53,089,610
93$83,210,166$8,913,131$3,721,513$58,217,103
94$91,550,623$9,202,894$3,699,204$63,860,863
95$100,737,176$9,502,225$3,671,517$70,073,412
96$110,855,982$9,811,448$3,638,126$76,912,631
97$122,001,980$10,130,897$3,598,691$84,442,301
98$134,279,788$10,460,917$3,552,854$92,732,706
99$147,804,691$10,801,867$3,500,239$101,861,300
100$162,703,728$11,154,117$3,440,456$111,913,434