Can I retire at age 56 with 2,130,000?

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 $2,130,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14%
1 years$175,893$174,327$172,798$171,306$169,849$167,035
2 years$87,076$85,454$83,883$82,359$80,881$78,054
3 years$57,474$55,845$54,278$52,768$51,314$48,562
4 years$42,676$41,052$39,500$38,016$36,598$33,942
5 years$33,799$32,185$30,654$29,200$27,821$25,270
6 years$27,884$26,282$24,773$23,352$22,014$19,569
7 years$23,660$22,071$20,586$19,199$17,903$15,566
8 years$20,493$18,919$17,459$16,105$14,852$12,623
9 years$18,032$16,473$15,037$13,718$12,508$10,384
10 years$16,064$14,520$13,110$11,825$10,657$8,638
11 years$14,455$12,926$11,542$10,291$9,166$7,248
12 years$13,115$11,602$10,243$9,027$7,943$6,125
13 years$11,982$10,485$9,151$7,969$6,926$5,205
14 years$11,011$9,530$8,223$7,074$6,071$4,445
15 years$10,171$8,706$7,424$6,309$5,346$3,810
16 years$9,437$7,988$6,731$5,649$4,725$3,276
17 years$8,789$7,356$6,125$5,076$4,189$2,825
18 years$8,215$6,798$5,591$4,574$3,725$2,442
19 years$7,701$6,300$5,118$4,133$3,320$2,115
20 years$7,239$5,854$4,697$3,743$2,966$1,835
21 years$6,822$5,453$4,321$3,397$2,654$1,594
22 years$6,443$5,090$3,982$3,089$2,379$1,387
23 years$6,098$4,761$3,677$2,813$2,135$1,208
24 years$5,782$4,460$3,400$2,566$1,919$1,053
25 years$5,491$4,186$3,150$2,343$1,727$918
26 years$5,224$3,934$2,921$2,143$1,556$802
27 years$4,977$3,702$2,712$1,961$1,403$700
28 years$4,747$3,489$2,522$1,797$1,266$612
29 years$4,534$3,291$2,347$1,648$1,143$535
30 years$4,336$3,108$2,186$1,512$1,033$468
31 years$4,150$2,938$2,038$1,389$934$410
32 years$3,977$2,780$1,901$1,276$844$359
33 years$3,815$2,633$1,775$1,174$764$314
34 years$3,662$2,495$1,659$1,080$692$275
35 years$3,518$2,367$1,551$994$627$241
36 years$3,383$2,247$1,451$916$568$211
37 years$3,255$2,134$1,358$844$515$185
38 years$3,135$2,028$1,271$778$467$162
39 years$3,020$1,928$1,191$717$423$142
40 years$2,912$1,835$1,117$661$384$124
41 years$2,809$1,746$1,047$610$348$109
42 years$2,712$1,663$982$563$316$96
43 years$2,619$1,585$922$520$287$84
44 years$2,531$1,510$865$480$260$74
45 years$2,447$1,440$812$443$236$64
46 years$2,366$1,374$763$409$215$57
47 years$2,290$1,311$717$378$195$50
48 years$2,217$1,252$674$350$177$43
49 years$2,147$1,195$633$323$161$38
50 years$2,080$1,142$595$299$146$33

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $2,130,000, adding $4,637 every year, while hoping to spend $41,469 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: 29/49/22 Blend
55$2,130,000$2,130,000$2,130,000$2,130,000
56$2,352,043$2,239,153$2,206,138$2,403,931
57$2,547,829$2,304,749$2,235,921$2,509,970
58$2,762,195$2,372,169$2,265,312$2,619,899
59$2,996,992$2,441,459$2,294,254$2,737,219
60$3,254,261$2,512,666$2,322,686$2,862,593
61$3,536,245$2,585,836$2,350,546$2,996,747
62$3,845,418$2,661,018$2,377,765$3,140,482
63$4,184,504$2,738,261$2,404,273$3,294,677
64$4,556,502$2,817,615$2,429,996$3,460,299
65$4,964,718$2,899,130$2,454,853$3,638,413
66$5,412,790$2,982,858$2,478,761$3,830,190
67$5,904,728$3,068,852$2,501,633$4,036,918
68$6,444,948$3,157,164$2,523,376$4,260,014
69$7,038,316$3,247,848$2,543,893$4,501,039
70$7,690,191$3,340,960$2,563,080$4,761,711
71$8,406,478$3,436,554$2,580,830$5,043,921
72$9,193,680$3,534,686$2,597,029$5,349,750
73$10,058,963$3,635,414$2,611,557$5,681,490
74$11,010,223$3,738,794$2,624,290$6,041,666
75$12,056,156$3,844,886$2,635,094$6,433,058
76$13,206,345$3,953,746$2,643,831$6,858,726
77$14,471,348$4,065,436$2,650,355$7,322,041
78$15,862,798$4,180,014$2,654,514$7,826,718
79$17,393,509$4,297,541$2,656,146$8,376,846
80$19,077,603$4,418,076$2,655,083$8,976,931
81$20,930,638$4,541,682$2,651,148$9,631,937
82$22,969,757$4,668,418$2,644,155$10,347,330
83$25,213,848$4,798,347$2,633,911$11,129,136
84$27,683,724$4,931,529$2,620,210$11,983,991
85$30,402,316$5,068,026$2,602,839$12,919,205
86$33,394,892$5,207,899$2,581,574$13,942,836
87$36,689,295$5,351,209$2,556,180$15,063,759
88$40,316,202$5,498,018$2,526,412$16,291,753
89$44,309,419$5,648,385$2,492,011$17,637,596
90$48,706,194$5,802,371$2,452,708$19,113,159
91$53,547,573$5,960,034$2,408,220$20,731,528
92$58,878,783$6,121,433$2,358,253$22,507,119
93$64,749,661$6,286,625$2,302,496$24,455,818
94$71,215,123$6,455,667$2,240,627$26,595,131
95$78,335,684$6,628,613$2,172,307$28,944,349
96$86,178,026$6,805,517$2,097,181$31,524,729
97$94,815,628$6,986,431$2,014,880$34,359,697
98$104,329,460$7,171,404$1,925,016$37,475,066
99$114,808,746$7,360,483$1,827,185$40,899,283
100$126,351,806$7,553,715$1,720,964$44,663,697