Can I retire at age 56 with 2,070,000?

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 $2,070,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.9%
1 years$170,939$169,416$167,930$166,481$165,065$159,781
2 years$84,623$83,047$81,520$80,039$78,602$73,328
3 years$55,855$54,272$52,749$51,282$49,868$44,769
4 years$41,474$39,896$38,387$36,945$35,567$30,680
5 years$32,847$31,279$29,790$28,378$27,037$22,378
6 years$27,098$25,541$24,075$22,694$21,394$16,965
7 years$22,993$21,450$20,006$18,658$17,399$13,201
8 years$19,916$18,386$16,967$15,652$14,434$10,463
9 years$17,524$16,009$14,614$13,332$12,155$8,408
10 years$15,611$14,111$12,741$11,492$10,357$6,827
11 years$14,047$12,562$11,217$10,002$8,907$5,588
12 years$12,745$11,275$9,954$8,773$7,719$4,603
13 years$11,644$10,189$8,894$7,745$6,731$3,811
14 years$10,701$9,262$7,991$6,875$5,900$3,168
15 years$9,885$8,461$7,215$6,131$5,195$2,643
16 years$9,171$7,763$6,541$5,490$4,592$2,210
17 years$8,542$7,149$5,952$4,933$4,071$1,853
18 years$7,983$6,606$5,434$4,445$3,620$1,556
19 years$7,484$6,122$4,974$4,017$3,226$1,309
20 years$7,035$5,689$4,565$3,638$2,882$1,103
21 years$6,630$5,299$4,199$3,302$2,579$930
22 years$6,262$4,947$3,870$3,002$2,312$785
23 years$5,926$4,627$3,573$2,734$2,075$663
24 years$5,619$4,335$3,305$2,494$1,865$560
25 years$5,337$4,068$3,061$2,277$1,678$474
26 years$5,077$3,823$2,839$2,082$1,512$401
27 years$4,836$3,598$2,636$1,906$1,363$339
28 years$4,614$3,391$2,451$1,746$1,230$287
29 years$4,407$3,199$2,280$1,601$1,111$243
30 years$4,214$3,021$2,124$1,470$1,003$206
31 years$4,034$2,856$1,980$1,350$907$175
32 years$3,865$2,702$1,848$1,240$821$148
33 years$3,707$2,559$1,725$1,141$743$125
34 years$3,559$2,425$1,612$1,050$672$106
35 years$3,419$2,300$1,507$966$609$90
36 years$3,288$2,183$1,410$890$552$76
37 years$3,164$2,074$1,320$820$500$65
38 years$3,046$1,971$1,236$756$453$55
39 years$2,935$1,874$1,158$697$411$47
40 years$2,830$1,783$1,085$643$373$39
41 years$2,730$1,697$1,017$593$338$33
42 years$2,635$1,616$954$547$307$28
43 years$2,545$1,540$896$505$279$24
44 years$2,459$1,468$841$466$253$20
45 years$2,378$1,400$789$431$230$17
46 years$2,300$1,335$741$398$208$15
47 years$2,225$1,274$697$368$189$12
48 years$2,154$1,217$655$340$172$11
49 years$2,086$1,162$615$314$156$9
50 years$2,021$1,110$578$290$142$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $2,070,000, adding $4,188 every year, while hoping to spend $21,393 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: 41/46/13 Blend
55$2,070,000$2,070,000$2,070,000$2,070,000
56$2,285,460$2,175,750$2,143,665$2,370,218
57$2,495,815$2,259,600$2,192,716$2,514,173
58$2,726,909$2,346,841$2,242,693$2,667,447
59$2,980,835$2,437,618$2,293,604$2,832,870
60$3,259,899$2,532,080$2,345,459$3,011,558
61$3,566,640$2,630,383$2,398,263$3,204,734
62$3,903,857$2,732,692$2,452,025$3,413,742
63$4,274,633$2,839,176$2,506,750$3,640,059
64$4,682,365$2,950,015$2,562,445$3,885,307
65$5,130,794$3,065,394$2,619,116$4,151,266
66$5,624,045$3,185,507$2,676,765$4,439,895
67$6,166,659$3,310,559$2,735,398$4,753,344
68$6,763,641$3,440,760$2,795,018$5,093,977
69$7,420,508$3,576,332$2,855,626$5,464,394
70$8,143,335$3,717,507$2,917,224$5,867,452
71$8,938,817$3,864,527$2,979,813$6,306,292
72$9,814,331$4,017,643$3,043,392$6,784,370
73$10,778,006$4,177,121$3,107,959$7,305,486
74$11,838,798$4,343,236$3,173,511$7,873,818
75$13,006,576$4,516,275$3,240,044$8,493,964
76$14,292,215$4,696,540$3,307,553$9,170,983
77$15,707,696$4,884,346$3,376,032$9,910,439
78$17,266,223$5,080,021$3,445,471$10,718,454
79$18,982,344$5,283,909$3,515,861$11,601,768
80$20,872,092$5,496,368$3,587,190$12,567,795
81$22,953,130$5,717,775$3,659,446$13,624,696
82$25,244,925$5,948,522$3,732,613$14,781,453
83$27,768,926$6,189,018$3,806,674$16,047,954
84$30,548,769$6,439,693$3,881,611$17,435,082
85$33,610,500$6,700,995$3,957,401$18,954,818
86$36,982,819$6,973,391$4,034,022$20,620,353
87$40,697,352$7,257,372$4,111,447$22,446,209
88$44,788,949$7,553,451$4,189,647$24,448,376
89$49,296,013$7,862,162$4,268,593$26,644,459
90$54,260,864$8,184,065$4,348,248$29,053,844
91$59,730,135$8,519,747$4,428,577$31,697,879
92$65,755,213$8,869,818$4,509,538$34,600,072
93$72,392,725$9,234,921$4,591,089$37,786,313
94$79,705,075$9,615,723$4,673,181$41,285,111
95$87,761,025$10,012,926$4,755,765$45,127,867
96$96,636,352$10,427,262$4,838,786$49,349,165
97$106,414,559$10,859,497$4,922,185$53,987,096
98$117,187,664$11,310,432$5,005,898$59,083,612
99$129,057,069$11,780,906$5,089,858$64,684,925
100$142,134,515$12,271,796$5,173,994$70,841,936