Can I retire at age 56 with 2,110,000?

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 $2,110,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.9%
1 years$174,242$172,690$171,176$169,698$168,254$166,914
2 years$86,258$84,652$83,095$81,585$80,121$78,770
3 years$56,934$55,321$53,768$52,273$50,832$49,512
4 years$42,275$40,667$39,129$37,659$36,254$34,975
5 years$33,482$31,883$30,366$28,926$27,560$26,326
6 years$27,622$26,035$24,540$23,132$21,807$20,620
7 years$23,438$21,864$20,393$19,018$17,735$16,595
8 years$20,301$18,742$17,295$15,954$14,713$13,620
9 years$17,862$16,318$14,896$13,589$12,390$11,345
10 years$15,913$14,383$12,987$11,714$10,557$9,558
11 years$14,319$12,805$11,433$10,195$9,080$8,125
12 years$12,991$11,493$10,147$8,942$7,868$6,959
13 years$11,869$10,386$9,065$7,895$6,861$5,995
14 years$10,908$9,441$8,145$7,008$6,014$5,191
15 years$10,076$8,624$7,354$6,250$5,296$4,514
16 years$9,348$7,913$6,668$5,596$4,680$3,938
17 years$8,707$7,287$6,067$5,028$4,150$3,447
18 years$8,137$6,734$5,539$4,531$3,690$3,024
19 years$7,629$6,241$5,070$4,094$3,289$2,660
20 years$7,171$5,799$4,653$3,708$2,938$2,344
21 years$6,758$5,402$4,280$3,365$2,629$2,068
22 years$6,383$5,042$3,945$3,060$2,356$1,828
23 years$6,041$4,716$3,642$2,787$2,115$1,618
24 years$5,728$4,419$3,369$2,542$1,901$1,433
25 years$5,440$4,147$3,120$2,321$1,711$1,271
26 years$5,175$3,897$2,894$2,122$1,541$1,128
27 years$4,930$3,668$2,687$1,943$1,389$1,002
28 years$4,703$3,456$2,498$1,780$1,254$891
29 years$4,492$3,260$2,324$1,632$1,132$792
30 years$4,295$3,079$2,165$1,498$1,023$705
31 years$4,111$2,911$2,019$1,376$925$628
32 years$3,940$2,754$1,883$1,264$837$559
33 years$3,779$2,608$1,758$1,163$757$498
34 years$3,627$2,472$1,643$1,070$685$444
35 years$3,485$2,345$1,536$985$621$396
36 years$3,351$2,225$1,437$907$562$353
37 years$3,225$2,114$1,345$836$510$315
38 years$3,105$2,009$1,260$770$462$281
39 years$2,992$1,910$1,180$710$419$251
40 years$2,885$1,817$1,106$655$380$224
41 years$2,783$1,730$1,037$604$345$200
42 years$2,686$1,647$973$558$313$178
43 years$2,594$1,570$913$515$284$159
44 years$2,507$1,496$857$475$258$142
45 years$2,424$1,427$805$439$234$127
46 years$2,344$1,361$756$406$212$113
47 years$2,268$1,299$710$375$193$101
48 years$2,196$1,240$667$346$175$90
49 years$2,126$1,184$627$320$159$81
50 years$2,060$1,131$590$296$145$72

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $2,110,000, adding $4,927 every year, while hoping to spend $32,235 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: 41/49/10 Blend
55$2,110,000$2,110,000$2,110,000$2,110,000
56$2,330,302$2,218,472$2,185,767$2,418,741
57$2,533,695$2,292,880$2,224,693$2,555,632
58$2,756,754$2,369,852$2,263,842$2,700,100
59$3,001,450$2,449,483$2,303,188$2,855,733
60$3,269,956$2,531,865$2,342,702$3,023,558
61$3,564,664$2,617,099$2,382,355$3,204,704
62$3,888,209$2,705,286$2,422,113$3,400,410
63$4,243,493$2,796,532$2,461,941$3,612,040
64$4,633,716$2,890,948$2,501,803$3,841,091
65$5,062,399$2,988,649$2,541,657$4,089,209
66$5,533,423$3,089,752$2,581,462$4,358,205
67$6,051,063$3,194,381$2,621,171$4,650,068
68$6,620,029$3,302,663$2,660,738$4,966,988
69$7,245,510$3,414,731$2,700,111$5,311,371
70$7,933,222$3,530,724$2,739,236$5,685,867
71$8,689,465$3,650,783$2,778,054$6,093,388
72$9,521,176$3,775,057$2,816,504$6,537,139
73$10,436,002$3,903,701$2,854,523$7,020,648
74$11,442,365$4,036,873$2,892,040$7,547,795
75$12,549,547$4,174,741$2,928,984$8,122,852
76$13,767,773$4,317,475$2,965,278$8,750,519
77$15,108,311$4,465,257$3,000,840$9,435,972
78$16,583,575$4,618,270$3,035,584$10,184,906
79$18,207,243$4,776,709$3,069,420$11,003,592
80$19,994,388$4,940,774$3,102,252$11,898,932
81$21,961,617$5,110,674$3,133,979$12,878,527
82$24,127,230$5,286,624$3,164,494$13,950,745
83$26,511,389$5,468,850$3,193,686$15,124,801
84$29,136,312$5,657,586$3,221,436$16,410,841
85$32,026,481$5,853,073$3,247,620$17,820,039
86$35,208,873$6,055,565$3,272,107$19,364,699
87$38,713,214$6,265,323$3,294,757$21,058,372
88$42,572,258$6,482,619$3,315,428$22,915,984
89$46,822,098$6,707,738$3,333,965$24,953,971
90$51,502,508$6,940,973$3,350,208$27,190,439
91$56,657,312$7,182,629$3,363,989$29,645,329
92$62,334,806$7,433,026$3,375,130$32,340,607
93$68,588,205$7,692,493$3,383,446$35,300,467
94$75,476,151$7,961,374$3,388,741$38,551,562
95$83,063,264$8,240,027$3,390,809$42,123,251
96$91,420,752$8,528,824$3,389,436$46,047,876
97$100,627,082$8,828,149$3,384,396$50,361,067
98$110,768,723$9,138,407$3,375,451$55,102,072
99$121,940,957$9,460,014$3,362,354$60,314,133
100$134,248,785$9,793,404$3,344,843$66,044,887