Can I retire at age 56 with 2,090,000?

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 $2,090,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.5%
1 years$172,590$171,053$169,553$168,089$166,660$162,236
2 years$85,441$83,849$82,307$80,812$79,362$74,936
3 years$56,395$54,797$53,258$51,777$50,350$46,061
4 years$41,874$40,281$38,758$37,302$35,910$31,790
5 years$33,165$31,581$30,078$28,652$27,298$23,359
6 years$27,360$25,788$24,308$22,913$21,600$17,845
7 years$23,215$21,657$20,200$18,838$17,567$13,996
8 years$20,108$18,564$17,131$15,803$14,573$11,185
9 years$17,693$16,163$14,755$13,461$12,273$9,065
10 years$15,762$14,247$12,864$11,603$10,457$7,425
11 years$14,183$12,683$11,325$10,098$8,993$6,132
12 years$12,868$11,384$10,051$8,857$7,794$5,098
13 years$11,757$10,288$8,980$7,820$6,796$4,261
14 years$10,804$9,351$8,068$6,942$5,957$3,577
15 years$9,980$8,543$7,284$6,191$5,245$3,013
16 years$9,259$7,838$6,604$5,543$4,636$2,546
17 years$8,624$7,218$6,010$4,980$4,111$2,156
18 years$8,060$6,670$5,486$4,488$3,655$1,830
19 years$7,556$6,182$5,022$4,056$3,258$1,556
20 years$7,103$5,744$4,609$3,673$2,910$1,325
21 years$6,694$5,351$4,240$3,334$2,604$1,129
22 years$6,322$4,995$3,907$3,031$2,334$963
23 years$5,983$4,671$3,608$2,760$2,095$823
24 years$5,673$4,377$3,337$2,518$1,883$703
25 years$5,388$4,107$3,090$2,299$1,695$601
26 years$5,126$3,860$2,866$2,102$1,526$515
27 years$4,883$3,633$2,662$1,924$1,376$440
28 years$4,658$3,423$2,474$1,763$1,242$377
29 years$4,449$3,229$2,302$1,617$1,121$323
30 years$4,254$3,050$2,145$1,484$1,013$277
31 years$4,072$2,883$1,999$1,363$916$237
32 years$3,902$2,728$1,865$1,252$829$203
33 years$3,743$2,584$1,742$1,152$750$174
34 years$3,593$2,449$1,627$1,060$679$150
35 years$3,452$2,322$1,522$975$615$128
36 years$3,319$2,204$1,423$898$557$110
37 years$3,194$2,094$1,332$828$505$94
38 years$3,076$1,990$1,248$763$458$81
39 years$2,964$1,892$1,169$703$415$70
40 years$2,857$1,800$1,096$649$377$60
41 years$2,757$1,714$1,027$599$342$51
42 years$2,661$1,632$964$552$310$44
43 years$2,570$1,555$904$510$281$38
44 years$2,483$1,482$849$471$255$32
45 years$2,401$1,413$797$435$232$28
46 years$2,322$1,348$749$402$210$24
47 years$2,247$1,287$703$371$191$20
48 years$2,175$1,228$661$343$174$18
49 years$2,106$1,173$621$317$158$15
50 years$2,041$1,120$584$293$143$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $2,090,000, adding $5,465 every year, while hoping to spend $45,897 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: 50/36/14 Blend
55$2,090,000$2,090,000$2,090,000$2,090,000
56$2,308,817$2,198,047$2,165,652$2,415,164
57$2,495,482$2,256,917$2,189,367$2,547,674
58$2,699,649$2,317,134$2,212,339$2,686,346
59$2,923,055$2,378,715$2,234,493$2,836,020
60$3,167,610$2,441,676$2,255,753$2,997,743
61$3,435,423$2,506,034$2,276,037$3,172,670
62$3,728,810$2,571,804$2,295,258$3,362,073
63$4,050,327$2,639,001$2,313,328$3,567,351
64$4,402,786$2,707,637$2,330,150$3,790,046
65$4,789,284$2,777,725$2,345,624$4,031,853
66$5,213,233$2,849,277$2,359,645$4,294,643
67$5,678,392$2,922,300$2,372,102$4,580,474
68$6,188,900$2,996,804$2,382,879$4,891,613
69$6,749,315$3,072,795$2,391,853$5,230,556
70$7,364,662$3,150,278$2,398,896$5,600,055
71$8,040,471$3,229,256$2,403,873$6,003,140
72$8,782,838$3,309,728$2,406,642$6,443,149
73$9,598,477$3,391,695$2,407,054$6,923,759
74$10,494,785$3,475,151$2,404,953$7,449,022
75$11,479,909$3,560,090$2,400,176$8,023,402
76$12,562,829$3,646,503$2,392,550$8,651,817
77$13,753,433$3,734,377$2,381,896$9,339,687
78$15,062,618$3,823,697$2,368,025$10,092,981
79$16,502,390$3,914,442$2,350,738$10,918,280
80$18,085,975$4,006,591$2,329,829$11,822,832
81$19,827,946$4,100,117$2,305,081$12,814,627
82$21,744,361$4,194,986$2,276,265$13,902,466
83$23,852,909$4,291,164$2,243,144$15,096,049
84$26,173,085$4,388,610$2,205,467$16,406,067
85$28,726,364$4,487,276$2,162,975$17,844,296
86$31,536,412$4,587,112$2,115,393$19,423,719
87$34,629,303$4,688,058$2,062,437$21,158,638
88$38,033,769$4,790,049$2,003,805$23,064,818
89$41,781,467$4,893,016$1,939,186$25,159,629
90$45,907,281$4,996,877$1,868,253$27,462,215
91$50,449,646$5,101,547$1,790,662$29,993,674
92$55,450,918$5,206,930$1,706,057$32,777,253
93$60,957,764$5,312,923$1,614,063$35,838,576
94$67,021,611$5,419,411$1,514,289$39,205,878
95$73,699,124$5,526,270$1,406,326$42,910,276
96$81,052,744$5,633,367$1,289,747$46,986,064
97$89,151,278$5,740,556$1,164,108$51,471,034
98$98,070,543$5,847,678$1,028,940$56,406,835
99$107,894,087$5,954,563$883,758$61,839,368
100$118,713,973$6,061,026$728,054$67,819,216