Can I retire at age 56 with 2,660,000?

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 $2,660,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.8%
1 years$219,660$217,704$215,795$213,932$212,112$208,770
2 years$108,743$106,717$104,755$102,852$101,006$97,647
3 years$71,775$69,741$67,783$65,898$64,082$60,812
4 years$53,295$51,267$49,329$47,476$45,704$42,547
5 years$42,210$40,194$38,281$36,466$34,743$31,709
6 years$34,822$32,821$30,937$29,162$27,491$24,583
7 years$29,547$27,563$25,709$23,976$22,358$19,576
8 years$25,593$23,627$21,803$20,113$18,548$15,893
9 years$22,519$20,571$18,779$17,132$15,620$13,090
10 years$20,061$18,133$16,372$14,768$13,309$10,902
11 years$18,051$16,143$14,414$12,852$11,446$9,160
12 years$16,378$14,489$12,792$11,273$9,919$7,750
13 years$14,963$13,094$11,429$9,952$8,650$6,595
14 years$13,751$11,902$10,269$8,835$7,582$5,639
15 years$12,702$10,872$9,271$7,879$6,676$4,840
16 years$11,785$9,975$8,406$7,055$5,900$4,168
17 years$10,976$9,187$7,649$6,339$5,232$3,600
18 years$10,259$8,489$6,982$5,712$4,652$3,116
19 years$9,617$7,868$6,392$5,162$4,146$2,703
20 years$9,040$7,311$5,866$4,675$3,703$2,348
21 years$8,519$6,810$5,396$4,243$3,314$2,043
22 years$8,046$6,357$4,973$3,858$2,971$1,780
23 years$7,615$5,945$4,592$3,513$2,667$1,553
24 years$7,220$5,570$4,247$3,204$2,397$1,356
25 years$6,858$5,227$3,933$2,926$2,157$1,184
26 years$6,524$4,913$3,648$2,676$1,943$1,036
27 years$6,215$4,624$3,387$2,449$1,752$906
28 years$5,929$4,357$3,149$2,244$1,580$793
29 years$5,662$4,110$2,930$2,058$1,427$695
30 years$5,415$3,882$2,730$1,888$1,289$609
31 years$5,183$3,669$2,545$1,734$1,166$533
32 years$4,967$3,472$2,374$1,594$1,055$468
33 years$4,764$3,288$2,217$1,466$954$410
34 years$4,573$3,116$2,071$1,349$864$360
35 years$4,394$2,956$1,937$1,242$783$316
36 years$4,225$2,806$1,812$1,143$709$277
37 years$4,065$2,665$1,696$1,053$643$243
38 years$3,914$2,532$1,588$971$583$213
39 years$3,772$2,408$1,488$895$528$187
40 years$3,637$2,291$1,394$826$479$165
41 years$3,508$2,181$1,307$762$435$145
42 years$3,387$2,077$1,226$703$395$127
43 years$3,271$1,979$1,151$649$358$111
44 years$3,160$1,886$1,080$599$325$98
45 years$3,055$1,799$1,014$554$295$86
46 years$2,955$1,716$953$511$268$76
47 years$2,860$1,638$895$472$243$66
48 years$2,768$1,563$841$436$221$58
49 years$2,681$1,493$791$403$201$51
50 years$2,597$1,426$743$373$182$45

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $2,660,000, adding $5,941 every year, while hoping to spend $39,840 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: 55/28/17 Blend
55$2,660,000$2,660,000$2,660,000$2,660,000
56$2,937,448$2,796,468$2,755,238$3,085,385
57$3,194,678$2,891,106$2,805,149$3,281,522
58$3,476,811$2,989,045$2,855,397$3,490,218
59$3,786,344$3,090,406$2,905,951$3,716,584
60$4,126,028$3,195,313$2,956,777$3,962,317
61$4,498,894$3,303,896$3,007,841$4,229,287
62$4,908,282$3,416,287$3,059,104$4,519,549
63$5,357,867$3,532,625$3,110,525$4,835,366
64$5,851,702$3,653,057$3,162,060$5,179,228
65$6,394,250$3,777,730$3,213,662$5,553,876
66$6,990,425$3,906,801$3,265,282$5,962,328
67$7,645,646$4,040,431$3,316,866$6,407,903
68$8,365,878$4,178,789$3,368,358$6,894,258
69$9,157,695$4,322,047$3,419,696$7,425,419
70$10,028,341$4,470,388$3,470,816$8,005,816
71$10,985,794$4,624,000$3,521,651$8,640,329
72$12,038,847$4,783,077$3,572,128$9,334,332
73$13,197,184$4,947,823$3,622,169$10,093,742
74$14,471,478$5,118,448$3,671,693$10,925,075
75$15,873,489$5,295,171$3,720,614$11,835,507
76$17,416,171$5,478,221$3,768,841$12,832,941
77$19,113,799$5,667,832$3,816,276$13,926,082
78$20,982,102$5,864,252$3,862,817$15,124,518
79$23,038,412$6,067,736$3,908,357$16,438,808
80$25,301,823$6,278,548$3,952,780$17,880,586
81$27,793,377$6,496,965$3,995,966$19,462,664
82$30,536,259$6,723,274$4,037,788$21,199,156
83$33,556,016$6,957,772$4,078,113$23,105,611
84$36,880,797$7,200,770$4,116,797$25,199,157
85$40,541,621$7,452,591$4,153,692$27,498,662
86$44,572,666$7,713,568$4,188,641$30,024,914
87$49,011,597$7,984,051$4,221,479$32,800,813
88$53,899,912$8,264,402$4,252,031$35,851,590
89$59,283,343$8,554,998$4,280,114$39,205,039
90$65,212,282$8,856,231$4,305,536$42,891,786
91$71,742,257$9,168,509$4,328,094$46,945,569
92$78,934,457$9,492,255$4,347,574$51,403,564
93$86,856,307$9,827,911$4,363,753$56,306,728
94$95,582,108$10,175,936$4,376,397$61,700,187
95$105,193,734$10,536,808$4,385,257$67,633,663
96$115,781,406$10,911,023$4,390,075$74,161,940
97$127,444,546$11,299,100$4,390,578$81,345,381
98$140,292,709$11,701,575$4,386,482$89,250,497
99$154,446,622$12,119,009$4,377,486$97,950,572
100$170,039,323$12,551,985$4,363,277$107,526,355