Can I retire at age 56 with 2,050,000?

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 $2,050,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.3%
1 years$169,287$167,779$166,308$164,872$163,470$158,618
2 years$83,805$82,245$80,732$79,265$77,843$72,995
3 years$55,315$53,748$52,239$50,786$49,387$44,695
4 years$41,073$39,510$38,017$36,589$35,223$30,723
5 years$32,530$30,977$29,502$28,104$26,776$22,480
6 years$26,836$25,295$23,842$22,475$21,187$17,098
7 years$22,771$21,242$19,813$18,478$17,231$13,350
8 years$19,724$18,209$16,803$15,500$14,294$10,619
9 years$17,355$15,854$14,472$13,203$12,038$8,564
10 years$15,460$13,974$12,617$11,381$10,257$6,980
11 years$13,912$12,441$11,108$9,905$8,821$5,735
12 years$12,622$11,166$9,858$8,688$7,644$4,743
13 years$11,532$10,091$8,808$7,670$6,666$3,943
14 years$10,598$9,172$7,914$6,809$5,843$3,292
15 years$9,789$8,379$7,145$6,072$5,145$2,757
16 years$9,082$7,688$6,478$5,437$4,547$2,316
17 years$8,459$7,080$5,895$4,885$4,032$1,951
18 years$7,906$6,542$5,381$4,402$3,585$1,646
19 years$7,412$6,063$4,926$3,978$3,195$1,391
20 years$6,967$5,634$4,521$3,603$2,854$1,177
21 years$6,566$5,248$4,158$3,270$2,554$997
22 years$6,201$4,899$3,833$2,973$2,289$845
23 years$5,869$4,582$3,539$2,708$2,055$717
24 years$5,565$4,293$3,273$2,469$1,847$609
25 years$5,285$4,029$3,031$2,255$1,662$518
26 years$5,028$3,786$2,811$2,062$1,497$440
27 years$4,790$3,563$2,611$1,887$1,350$374
28 years$4,569$3,358$2,427$1,729$1,218$318
29 years$4,364$3,168$2,258$1,586$1,100$271
30 years$4,173$2,992$2,104$1,455$994$231
31 years$3,995$2,828$1,961$1,337$898$196
32 years$3,828$2,676$1,830$1,228$813$167
33 years$3,671$2,534$1,708$1,130$736$142
34 years$3,524$2,402$1,596$1,039$666$121
35 years$3,386$2,278$1,492$957$603$103
36 years$3,256$2,162$1,396$881$546$88
37 years$3,133$2,054$1,307$812$495$75
38 years$3,017$1,952$1,224$748$449$64
39 years$2,907$1,856$1,146$690$407$55
40 years$2,803$1,766$1,075$636$369$46
41 years$2,704$1,681$1,008$587$335$40
42 years$2,610$1,601$945$542$304$34
43 years$2,521$1,525$887$500$276$29
44 years$2,436$1,454$833$462$250$25
45 years$2,355$1,386$782$427$227$21
46 years$2,277$1,322$734$394$206$18
47 years$2,204$1,262$690$364$187$15
48 years$2,133$1,205$648$336$170$13
49 years$2,066$1,150$609$311$155$11
50 years$2,002$1,099$573$287$140$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $2,050,000, adding $4,584 every year, while hoping to spend $35,692 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: 79/15/6 Blend
55$2,050,000$2,050,000$2,050,000$2,050,000
56$2,263,828$2,155,178$2,123,403$2,441,208
57$2,456,763$2,222,806$2,156,561$2,625,711
58$2,668,180$2,292,551$2,189,634$2,822,900
59$2,899,929$2,364,480$2,222,581$3,038,127
60$3,154,042$2,438,661$2,255,358$3,273,173
61$3,432,763$2,515,163$2,287,921$3,529,996
62$3,738,559$2,594,060$2,320,220$3,810,755
63$4,074,149$2,675,426$2,352,204$4,117,825
64$4,442,528$2,759,338$2,383,819$4,453,822
65$4,846,995$2,845,875$2,415,007$4,821,628
66$5,291,186$2,935,120$2,445,706$5,224,415
67$5,779,102$3,027,156$2,475,853$5,665,679
68$6,315,154$3,122,071$2,505,378$6,149,268
69$6,904,201$3,219,954$2,534,209$6,679,421
70$7,551,596$3,320,897$2,562,271$7,260,810
71$8,263,234$3,424,997$2,589,483$7,898,576
72$9,045,613$3,532,351$2,615,760$8,598,387
73$9,905,890$3,643,060$2,641,012$9,366,484
74$10,851,950$3,757,229$2,665,145$10,209,743
75$11,892,481$3,874,966$2,688,059$11,135,738
76$13,037,056$3,996,381$2,709,651$12,152,813
77$14,296,221$4,121,589$2,729,810$13,270,163
78$15,681,597$4,250,708$2,748,420$14,497,914
79$17,205,986$4,383,860$2,765,359$15,847,225
80$18,883,497$4,521,169$2,780,498$17,330,390
81$20,729,672$4,662,765$2,793,704$18,960,952
82$22,761,639$4,808,781$2,804,833$20,753,834
83$24,998,270$4,959,354$2,813,738$22,725,478
84$27,460,357$5,114,626$2,820,263$24,894,000
85$30,170,814$5,274,743$2,824,241$27,279,359
86$33,154,886$5,439,855$2,825,503$29,903,547
87$36,440,393$5,610,117$2,823,866$32,790,798
88$40,057,989$5,785,688$2,819,141$35,967,811
89$44,041,451$5,966,734$2,811,130$39,464,005
90$48,427,999$6,153,424$2,799,622$43,311,798
91$53,258,646$6,345,932$2,784,400$47,546,909
92$58,578,584$6,544,440$2,765,235$52,208,697
93$64,437,615$6,749,132$2,741,885$57,340,531
94$70,890,613$6,960,201$2,714,100$62,990,199
95$77,998,049$7,177,844$2,681,615$69,210,361
96$85,826,555$7,402,264$2,644,155$76,059,042
97$94,449,560$7,633,671$2,601,430$83,600,180
98$103,947,974$7,872,280$2,553,137$91,904,232
99$114,410,961$8,118,315$2,498,961$101,048,837
100$125,936,772$8,372,005$2,438,568$111,119,546