Can I retire at age 56 with 2,630,000?

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 $2,630,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.3%
1 years$217,183$215,248$213,361$211,519$209,720$208,573
2 years$107,516$105,514$103,573$101,692$99,867$98,709
3 years$70,966$68,955$67,019$65,155$63,359$62,228
4 years$52,694$50,689$48,773$46,940$45,189$44,091
5 years$41,734$39,741$37,849$36,055$34,352$33,291
6 years$34,429$32,451$30,588$28,833$27,181$26,160
7 years$29,214$27,253$25,419$23,705$22,106$21,124
8 years$25,304$23,360$21,557$19,886$18,339$17,396
9 years$22,265$20,339$18,567$16,938$15,444$14,540
10 years$19,835$17,928$16,187$14,601$13,159$12,294
11 years$17,848$15,960$14,251$12,707$11,317$10,490
12 years$16,193$14,325$12,647$11,146$9,807$9,018
13 years$14,794$12,946$11,300$9,840$8,552$7,799
14 years$13,596$11,767$10,153$8,735$7,497$6,780
15 years$12,559$10,750$9,167$7,790$6,601$5,918
16 years$11,652$9,863$8,311$6,975$5,834$5,185
17 years$10,853$9,083$7,563$6,267$5,173$4,557
18 years$10,143$8,393$6,904$5,648$4,599$4,016
19 years$9,509$7,779$6,320$5,103$4,099$3,547
20 years$8,939$7,228$5,800$4,622$3,662$3,139
21 years$8,423$6,733$5,335$4,195$3,277$2,782
22 years$7,956$6,285$4,917$3,814$2,937$2,470
23 years$7,529$5,878$4,540$3,474$2,637$2,196
24 years$7,139$5,508$4,199$3,168$2,370$1,955
25 years$6,781$5,169$3,889$2,893$2,132$1,741
26 years$6,450$4,858$3,607$2,645$1,921$1,553
27 years$6,145$4,572$3,349$2,421$1,732$1,386
28 years$5,862$4,308$3,113$2,219$1,563$1,238
29 years$5,599$4,064$2,897$2,035$1,411$1,106
30 years$5,354$3,838$2,699$1,867$1,275$989
31 years$5,125$3,628$2,516$1,715$1,153$885
32 years$4,911$3,433$2,347$1,576$1,043$792
33 years$4,710$3,251$2,192$1,449$944$709
34 years$4,521$3,081$2,048$1,333$854$635
35 years$4,344$2,922$1,915$1,227$774$569
36 years$4,177$2,774$1,791$1,130$701$510
37 years$4,019$2,635$1,676$1,042$635$457
38 years$3,870$2,504$1,570$960$576$410
39 years$3,729$2,381$1,471$885$522$368
40 years$3,596$2,265$1,379$816$474$330
41 years$3,469$2,156$1,293$753$430$296
42 years$3,348$2,054$1,213$695$390$266
43 years$3,234$1,957$1,138$642$354$238
44 years$3,125$1,865$1,068$593$321$214
45 years$3,021$1,778$1,003$547$292$192
46 years$2,922$1,697$942$506$265$172
47 years$2,827$1,619$885$467$241$155
48 years$2,737$1,546$832$432$218$139
49 years$2,650$1,476$782$399$198$125
50 years$2,568$1,410$735$369$180$112

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $2,630,000, adding $4,094 every year, while hoping to spend $26,238 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: 66/29/5 Blend
55$2,630,000$2,630,000$2,630,000$2,630,000
56$2,902,483$2,763,093$2,722,328$3,091,919
57$3,170,619$2,870,567$2,785,609$3,325,579
58$3,465,226$2,982,429$2,850,130$3,577,289
59$3,788,975$3,098,864$2,915,906$3,851,654
60$4,144,812$3,220,070$2,982,950$4,150,875
61$4,535,978$3,346,249$3,051,274$4,477,374
62$4,966,048$3,477,615$3,120,892$4,833,816
63$5,438,958$3,614,391$3,191,816$5,223,132
64$5,959,046$3,756,811$3,264,055$5,648,549
65$6,531,090$3,905,116$3,337,623$6,113,617
66$7,160,356$4,059,561$3,412,527$6,622,242
67$7,852,644$4,220,411$3,488,779$7,178,727
68$8,614,347$4,387,944$3,566,386$7,787,803
69$9,452,506$4,562,449$3,645,356$8,454,683
70$10,374,881$4,744,229$3,725,695$9,185,102
71$11,390,023$4,933,600$3,807,409$9,985,376
72$12,507,352$5,130,893$3,890,504$10,862,457
73$13,737,248$5,336,453$3,974,982$11,824,000
74$15,091,149$5,550,641$4,060,845$12,878,434
75$16,581,658$5,773,834$4,148,096$14,035,041
76$18,222,661$6,006,426$4,236,732$15,304,042
77$20,029,463$6,248,831$4,326,752$16,696,690
78$22,018,922$6,501,478$4,418,152$18,225,381
79$24,209,620$6,764,818$4,510,928$19,903,764
80$26,622,029$7,039,323$4,605,072$21,746,874
81$29,278,710$7,325,483$4,700,576$23,771,268
82$32,204,520$7,623,814$4,797,427$25,995,183
83$35,426,854$7,934,853$4,895,614$28,438,705
84$38,975,897$8,259,164$4,995,120$31,123,959
85$42,884,910$8,597,335$5,095,928$34,075,315
86$47,190,546$8,949,980$5,198,018$37,319,619
87$51,933,196$9,317,743$5,301,365$40,886,441
88$57,157,366$9,701,297$5,405,946$44,808,355
89$62,912,102$10,101,345$5,511,729$49,121,246
90$69,251,449$10,518,623$5,618,684$53,864,644
91$76,234,961$10,953,900$5,726,775$59,082,097
92$83,928,268$11,407,982$5,835,962$64,821,581
93$92,403,688$11,881,710$5,946,204$71,135,950
94$101,740,915$12,375,965$6,057,453$78,083,432
95$112,027,769$12,891,668$6,169,658$85,728,177
96$123,361,025$13,429,782$6,282,765$94,140,863
97$135,847,325$13,991,317$6,396,713$103,399,356
98$149,604,187$14,577,326$6,511,437$113,589,448
99$164,761,112$15,188,914$6,626,869$124,805,660
100$181,460,809$15,827,234$6,742,932$137,152,134