Can I retire at age 56 with 2,640,000?

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 $2,640,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.2%
1 years$218,009$216,067$214,172$212,323$210,517$206,014
2 years$107,925$105,915$103,967$102,078$100,246$95,732
3 years$71,235$69,217$67,274$65,403$63,600$59,215
4 years$52,894$50,882$48,958$47,119$45,360$41,138
5 years$41,892$39,892$37,993$36,192$34,482$30,434
6 years$34,560$32,575$30,704$28,943$27,285$23,416
7 years$29,325$27,356$25,515$23,796$22,190$18,501
8 years$25,400$23,449$21,639$19,961$18,408$14,898
9 years$22,349$20,417$18,638$17,003$15,503$12,169
10 years$19,910$17,996$16,249$14,657$13,209$10,048
11 years$17,916$16,021$14,305$12,756$11,360$8,368
12 years$16,255$14,380$12,695$11,188$9,844$7,016
13 years$14,850$12,995$11,343$9,878$8,585$5,916
14 years$13,648$11,812$10,191$8,768$7,525$5,010
15 years$12,606$10,791$9,201$7,820$6,626$4,259
16 years$11,696$9,900$8,342$7,002$5,856$3,632
17 years$10,894$9,118$7,591$6,291$5,192$3,105
18 years$10,181$8,425$6,930$5,669$4,617$2,661
19 years$9,545$7,808$6,344$5,123$4,115$2,284
20 years$8,973$7,256$5,822$4,640$3,676$1,964
21 years$8,455$6,759$5,355$4,211$3,289$1,691
22 years$7,986$6,309$4,936$3,829$2,948$1,457
23 years$7,558$5,901$4,557$3,487$2,647$1,257
24 years$7,166$5,528$4,215$3,180$2,379$1,086
25 years$6,806$5,188$3,904$2,904$2,141$938
26 years$6,475$4,876$3,620$2,656$1,928$811
27 years$6,168$4,589$3,362$2,431$1,738$702
28 years$5,884$4,324$3,125$2,227$1,569$607
29 years$5,620$4,079$2,908$2,042$1,416$526
30 years$5,374$3,852$2,709$1,874$1,280$455
31 years$5,144$3,642$2,526$1,721$1,157$395
32 years$4,929$3,446$2,356$1,582$1,047$342
33 years$4,728$3,263$2,200$1,455$947$296
34 years$4,539$3,093$2,056$1,339$858$257
35 years$4,361$2,934$1,922$1,232$777$223
36 years$4,193$2,784$1,798$1,135$704$193
37 years$4,035$2,645$1,683$1,046$638$168
38 years$3,885$2,513$1,576$964$578$145
39 years$3,743$2,390$1,476$889$524$126
40 years$3,609$2,274$1,384$820$476$109
41 years$3,482$2,164$1,298$756$432$95
42 years$3,361$2,061$1,217$698$392$82
43 years$3,246$1,964$1,142$644$355$71
44 years$3,137$1,872$1,072$595$323$62
45 years$3,032$1,785$1,007$549$293$54
46 years$2,933$1,703$946$507$266$47
47 years$2,838$1,625$888$469$241$41
48 years$2,747$1,551$835$433$219$35
49 years$2,661$1,482$785$400$199$31
50 years$2,578$1,415$738$370$181$27

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $2,640,000, adding $4,385 every year, while hoping to spend $50,607 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: 32/38/30 Blend
55$2,640,000$2,640,000$2,640,000$2,640,000
56$2,913,803$2,773,883$2,732,963$2,980,327
57$3,157,166$2,855,958$2,770,672$3,114,133
58$3,423,655$2,940,358$2,807,948$3,253,413
59$3,715,577$3,027,145$2,844,723$3,402,460
60$4,035,470$3,116,379$2,880,925$3,562,173
61$4,386,130$3,208,124$2,916,479$3,733,539
62$4,770,638$3,302,445$2,951,304$3,917,645
63$5,192,385$3,399,406$2,985,314$4,115,687
64$5,655,107$3,499,076$3,018,421$4,328,982
65$6,162,919$3,601,522$3,050,530$4,558,978
66$6,720,355$3,706,815$3,081,540$4,807,272
67$7,332,406$3,815,024$3,111,347$5,075,619
68$8,004,574$3,926,223$3,139,840$5,365,955
69$8,742,918$4,040,485$3,166,901$5,680,408
70$9,554,111$4,157,884$3,192,408$6,021,324
71$10,445,508$4,278,498$3,216,231$6,391,288
72$11,425,209$4,402,404$3,238,234$6,793,143
73$12,502,139$4,529,680$3,258,274$7,230,025
74$13,686,129$4,660,407$3,276,198$7,705,386
75$14,988,013$4,794,665$3,291,850$8,223,030
76$16,419,725$4,932,539$3,305,061$8,787,146
77$17,994,414$5,074,110$3,315,658$9,402,350
78$19,726,568$5,219,464$3,323,456$10,073,729
79$21,632,148$5,368,688$3,328,261$10,806,886
80$23,728,741$5,521,868$3,329,872$11,607,994
81$26,035,726$5,679,093$3,328,076$12,483,857
82$28,574,452$5,840,450$3,322,649$13,441,971
83$31,368,446$6,006,032$3,313,357$14,490,593
84$34,443,628$6,175,928$3,299,955$15,638,827
85$37,828,560$6,350,231$3,282,186$16,896,701
86$41,554,713$6,529,032$3,259,779$18,275,266
87$45,656,764$6,712,425$3,232,452$19,786,701
88$50,172,924$6,900,504$3,199,909$21,444,425
89$55,145,296$7,093,363$3,161,840$23,263,228
90$60,620,274$7,291,095$3,117,919$25,259,408
91$66,648,980$7,493,797$3,067,808$27,450,924
92$73,287,745$7,701,562$3,011,148$29,857,568
93$80,598,642$7,914,486$2,947,569$32,501,154
94$88,650,071$8,132,662$2,876,679$35,405,718
95$97,517,401$8,356,186$2,798,072$38,597,749
96$107,283,688$8,585,151$2,711,319$42,106,443
97$118,040,450$8,819,650$2,615,974$45,963,970
98$129,888,538$9,059,774$2,511,571$50,205,788
99$142,939,082$9,305,616$2,397,621$54,870,970
100$157,314,541$9,557,264$2,273,615$60,002,578