Can I retire at age 56 with 2,680,000?

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 $2,680,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.4%
1 years$221,312$219,341$217,417$215,540$213,707$210,687
2 years$109,560$107,520$105,542$103,625$101,765$98,729
3 years$72,315$70,265$68,293$66,394$64,564$61,605
4 years$53,696$51,653$49,700$47,833$46,048$43,189
5 years$42,527$40,496$38,569$36,740$35,005$32,255
6 years$35,084$33,068$31,170$29,381$27,698$25,060
7 years$29,769$27,771$25,902$24,156$22,526$20,001
8 years$25,785$23,805$21,967$20,264$18,687$16,275
9 years$22,688$20,726$18,920$17,260$15,737$13,437
10 years$20,212$18,269$16,495$14,879$13,409$11,218
11 years$18,187$16,264$14,522$12,949$11,532$9,449
12 years$16,501$14,598$12,888$11,358$9,994$8,015
13 years$15,075$13,192$11,514$10,027$8,715$6,839
14 years$13,855$11,991$10,346$8,901$7,639$5,863
15 years$12,797$10,954$9,341$7,938$6,726$5,046
16 years$11,873$10,050$8,469$7,108$5,945$4,358
17 years$11,059$9,256$7,706$6,386$5,271$3,774
18 years$10,336$8,553$7,035$5,755$4,687$3,276
19 years$9,689$7,927$6,440$5,200$4,177$2,850
20 years$9,108$7,366$5,910$4,710$3,731$2,484
21 years$8,584$6,861$5,436$4,275$3,339$2,168
22 years$8,107$6,404$5,011$3,887$2,993$1,894
23 years$7,672$5,990$4,626$3,540$2,687$1,657
24 years$7,275$5,612$4,279$3,228$2,415$1,451
25 years$6,909$5,267$3,963$2,948$2,173$1,272
26 years$6,573$4,950$3,675$2,696$1,957$1,116
27 years$6,262$4,658$3,413$2,468$1,765$979
28 years$5,973$4,390$3,173$2,261$1,592$860
29 years$5,705$4,141$2,952$2,073$1,438$756
30 years$5,455$3,911$2,750$1,903$1,299$664
31 years$5,222$3,697$2,564$1,747$1,175$584
32 years$5,004$3,498$2,392$1,606$1,062$514
33 years$4,799$3,313$2,234$1,477$962$452
34 years$4,607$3,140$2,087$1,359$871$398
35 years$4,427$2,978$1,951$1,251$789$350
36 years$4,256$2,827$1,825$1,152$714$309
37 years$4,096$2,685$1,708$1,061$648$272
38 years$3,944$2,551$1,600$978$587$239
39 years$3,800$2,426$1,499$902$532$211
40 years$3,664$2,308$1,405$832$483$186
41 years$3,535$2,197$1,317$768$438$164
42 years$3,412$2,093$1,236$708$397$144
43 years$3,295$1,994$1,160$654$361$127
44 years$3,184$1,900$1,088$604$327$112
45 years$3,078$1,812$1,022$558$297$99
46 years$2,977$1,729$960$515$270$87
47 years$2,881$1,650$902$476$245$77
48 years$2,789$1,575$847$440$223$68
49 years$2,701$1,504$797$406$202$60
50 years$2,617$1,437$749$376$184$53

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $2,680,000, adding $6,319 every year, while hoping to spend $44,609 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: 61/18/21 Blend
55$2,680,000$2,680,000$2,680,000$2,680,000
56$2,959,878$2,817,838$2,776,298$3,123,798
57$3,214,322$2,908,448$2,821,840$3,326,049
58$3,493,224$3,002,004$2,867,413$3,541,205
59$3,799,032$3,098,601$2,912,971$3,775,023
60$4,134,442$3,198,341$2,958,464$4,029,322
61$4,502,422$3,301,327$3,003,839$4,306,108
62$4,906,244$3,407,667$3,049,043$4,607,587
63$5,349,510$3,517,471$3,094,015$4,936,189
64$5,836,188$3,630,855$3,138,692$5,294,591
65$6,370,649$3,747,938$3,183,009$5,685,737
66$6,957,710$3,868,841$3,226,894$6,112,874
67$7,602,674$3,993,692$3,270,273$6,579,575
68$8,311,386$4,122,622$3,313,066$7,089,777
69$9,090,283$4,255,766$3,355,190$7,647,814
70$9,946,459$4,393,266$3,396,555$8,258,462
71$10,887,727$4,535,265$3,437,069$8,926,982
72$11,922,697$4,681,914$3,476,633$9,659,166
73$13,060,852$4,833,369$3,515,140$10,461,398
74$14,312,644$4,989,789$3,552,482$11,340,709
75$15,689,585$5,151,340$3,588,542$12,304,845
76$17,204,362$5,318,195$3,623,197$13,362,339
77$18,870,951$5,490,530$3,656,318$14,522,592
78$20,704,751$5,668,530$3,687,768$15,795,962
79$22,722,732$5,852,384$3,717,405$17,193,860
80$24,943,588$6,042,288$3,745,076$18,728,859
81$27,387,921$6,238,447$3,770,623$20,414,810
82$30,078,429$6,441,071$3,793,878$22,266,975
83$33,040,122$6,650,377$3,814,666$24,302,171
84$36,300,559$6,866,590$3,832,802$26,538,925
85$39,890,106$7,089,943$3,848,091$28,997,652
86$43,842,225$7,320,678$3,860,330$31,700,847
87$48,193,784$7,559,043$3,869,303$34,673,294
88$52,985,411$7,805,298$3,874,786$37,942,306
89$58,261,874$8,059,708$3,876,543$41,537,974
90$64,072,503$8,322,551$3,874,324$45,493,458
91$70,471,655$8,594,113$3,867,871$49,845,297
92$77,519,228$8,874,690$3,856,910$54,633,751
93$85,281,228$9,164,588$3,841,154$59,903,187
94$93,830,385$9,464,125$3,820,305$65,702,492
95$103,246,846$9,773,628$3,794,047$72,085,535
96$113,618,928$10,093,440$3,762,051$79,111,677
97$125,043,951$10,423,910$3,723,971$86,846,332
98$137,629,156$10,765,404$3,679,447$95,361,580
99$151,492,720$11,118,299$3,628,099$104,736,851
100$166,764,868$11,482,986$3,569,530$115,059,672