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%14.5%
1 years$217,183$215,248$213,361$211,519$209,720$205,822
2 years$107,516$105,514$103,573$101,692$99,867$95,954
3 years$70,966$68,955$67,019$65,155$63,359$59,555
4 years$52,694$50,689$48,773$46,940$45,189$41,520
5 years$41,734$39,741$37,849$36,055$34,352$30,830
6 years$34,429$32,451$30,588$28,833$27,181$23,811
7 years$29,214$27,253$25,419$23,705$22,106$18,887
8 years$25,304$23,360$21,557$19,886$18,339$15,272
9 years$22,265$20,339$18,567$16,938$15,444$12,526
10 years$19,835$17,928$16,187$14,601$13,159$10,388
11 years$17,848$15,960$14,251$12,707$11,317$8,689
12 years$16,193$14,325$12,647$11,146$9,807$7,319
13 years$14,794$12,946$11,300$9,840$8,552$6,200
14 years$13,596$11,767$10,153$8,735$7,497$5,276
15 years$12,559$10,750$9,167$7,790$6,601$4,507
16 years$11,652$9,863$8,311$6,975$5,834$3,862
17 years$10,853$9,083$7,563$6,267$5,173$3,319
18 years$10,143$8,393$6,904$5,648$4,599$2,858
19 years$9,509$7,779$6,320$5,103$4,099$2,466
20 years$8,939$7,228$5,800$4,622$3,662$2,132
21 years$8,423$6,733$5,335$4,195$3,277$1,845
22 years$7,956$6,285$4,917$3,814$2,937$1,599
23 years$7,529$5,878$4,540$3,474$2,637$1,387
24 years$7,139$5,508$4,199$3,168$2,370$1,204
25 years$6,781$5,169$3,889$2,893$2,132$1,046
26 years$6,450$4,858$3,607$2,645$1,921$910
27 years$6,145$4,572$3,349$2,421$1,732$792
28 years$5,862$4,308$3,113$2,219$1,563$689
29 years$5,599$4,064$2,897$2,035$1,411$600
30 years$5,354$3,838$2,699$1,867$1,275$523
31 years$5,125$3,628$2,516$1,715$1,153$455
32 years$4,911$3,433$2,347$1,576$1,043$397
33 years$4,710$3,251$2,192$1,449$944$346
34 years$4,521$3,081$2,048$1,333$854$302
35 years$4,344$2,922$1,915$1,227$774$263
36 years$4,177$2,774$1,791$1,130$701$230
37 years$4,019$2,635$1,676$1,042$635$200
38 years$3,870$2,504$1,570$960$576$175
39 years$3,729$2,381$1,471$885$522$153
40 years$3,596$2,265$1,379$816$474$133
41 years$3,469$2,156$1,293$753$430$116
42 years$3,348$2,054$1,213$695$390$102
43 years$3,234$1,957$1,138$642$354$89
44 years$3,125$1,865$1,068$593$321$77
45 years$3,021$1,778$1,003$547$292$68
46 years$2,922$1,697$942$506$265$59
47 years$2,827$1,619$885$467$241$51
48 years$2,737$1,546$832$432$218$45
49 years$2,650$1,476$782$399$198$39
50 years$2,568$1,410$735$369$180$34

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 $4,756 every year, while hoping to spend $34,653 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: 82/11/7 Blend
55$2,630,000$2,630,000$2,630,000$2,630,000
56$2,903,166$2,763,776$2,723,011$3,138,877
57$3,162,418$2,862,330$2,777,361$3,392,269
58$3,446,953$2,964,553$2,832,371$3,665,267
59$3,759,312$3,070,586$2,888,025$3,963,899
60$4,102,296$3,180,579$2,944,308$4,290,710
61$4,478,990$3,294,687$3,001,202$4,648,505
62$4,892,792$3,413,071$3,058,687$5,040,372
63$5,347,445$3,535,900$3,116,742$5,469,712
64$5,847,074$3,663,349$3,175,343$5,940,270
65$6,396,223$3,795,600$3,234,463$6,456,172
66$6,999,895$3,932,842$3,294,076$7,021,960
67$7,663,607$4,075,274$3,354,150$7,642,638
68$8,393,434$4,223,102$3,414,653$8,323,719
69$9,196,070$4,376,539$3,475,549$9,071,272
70$10,078,890$4,535,810$3,536,801$9,891,987
71$11,050,018$4,701,146$3,598,365$10,793,229
72$12,118,409$4,872,792$3,660,200$11,783,113
73$13,293,927$5,050,998$3,722,257$12,870,579
74$14,587,440$5,236,030$3,784,484$14,065,476
75$16,010,923$5,428,159$3,846,829$15,378,653
76$17,577,572$5,627,674$3,909,232$16,822,061
77$19,301,926$5,834,871$3,971,633$18,408,870
78$21,200,003$6,050,061$4,033,964$20,153,587
79$23,289,458$6,273,568$4,096,156$22,072,194
80$25,589,738$6,505,729$4,158,133$24,182,303
81$28,122,277$6,746,896$4,219,816$26,503,314
82$30,910,691$6,997,434$4,281,121$29,056,604
83$33,981,000$7,257,728$4,341,958$31,865,725
84$37,361,880$7,528,174$4,402,231$34,956,629
85$41,084,927$7,809,190$4,461,841$38,357,906
86$45,184,956$8,101,207$4,520,679$42,101,062
87$49,700,334$8,404,678$4,578,634$46,220,809
88$54,673,335$8,720,074$4,635,585$50,755,394
89$60,150,544$9,047,887$4,691,407$55,746,962
90$66,183,296$9,388,630$4,745,965$61,241,950
91$72,828,156$9,742,836$4,799,119$67,291,524
92$80,147,458$10,111,066$4,850,719$73,952,066
93$88,209,890$10,493,899$4,900,610$81,285,700
94$97,091,143$10,891,945$4,948,624$89,360,884
95$106,874,625$11,305,835$4,994,589$98,253,048
96$117,652,248$11,736,232$5,038,318$108,045,311
97$129,525,295$12,183,826$5,079,620$118,829,263
98$142,605,378$12,649,336$5,118,290$130,705,829
99$157,015,487$13,133,513$5,154,113$143,786,219
100$172,891,154$13,637,143$5,186,863$158,192,980