Can I retire at age 56 with 2,150,000?

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 $2,150,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.5%
1 years$177,545$175,964$174,421$172,915$171,444$170,364
2 years$87,894$86,257$84,670$83,132$81,640$80,550
3 years$58,014$56,370$54,787$53,263$51,796$50,730
4 years$43,077$41,438$39,871$38,373$36,941$35,908
5 years$34,117$32,488$30,942$29,474$28,082$27,085
6 years$28,145$26,529$25,005$23,571$22,220$21,260
7 years$23,882$22,279$20,780$19,379$18,071$17,148
8 years$20,686$19,097$17,623$16,257$14,992$14,106
9 years$18,201$16,627$15,178$13,847$12,625$11,777
10 years$16,215$14,656$13,233$11,936$10,757$9,945
11 years$14,590$13,048$11,650$10,388$9,252$8,476
12 years$13,238$11,711$10,339$9,112$8,017$7,277
13 years$12,094$10,583$9,237$8,044$6,991$6,286
14 years$11,115$9,620$8,300$7,141$6,128$5,457
15 years$10,267$8,788$7,494$6,368$5,396$4,757
16 years$9,525$8,063$6,794$5,702$4,769$4,162
17 years$8,872$7,425$6,182$5,123$4,229$3,653
18 years$8,292$6,861$5,644$4,617$3,760$3,214
19 years$7,773$6,359$5,166$4,172$3,351$2,835
20 years$7,307$5,909$4,742$3,779$2,993$2,505
21 years$6,886$5,504$4,361$3,429$2,679$2,218
22 years$6,504$5,138$4,020$3,118$2,401$1,966
23 years$6,155$4,805$3,711$2,840$2,155$1,745
24 years$5,836$4,502$3,432$2,590$1,937$1,551
25 years$5,543$4,225$3,179$2,365$1,743$1,380
26 years$5,273$3,971$2,948$2,163$1,570$1,228
27 years$5,023$3,737$2,738$1,980$1,416$1,095
28 years$4,792$3,522$2,545$1,814$1,277$976
29 years$4,577$3,322$2,369$1,663$1,153$871
30 years$4,376$3,137$2,206$1,526$1,042$778
31 years$4,189$2,966$2,057$1,402$942$695
32 years$4,014$2,806$1,919$1,288$852$621
33 years$3,850$2,658$1,792$1,185$771$555
34 years$3,696$2,519$1,674$1,090$698$496
35 years$3,551$2,389$1,565$1,003$633$444
36 years$3,415$2,268$1,464$924$573$397
37 years$3,286$2,154$1,370$852$519$355
38 years$3,164$2,047$1,283$785$471$318
39 years$3,049$1,946$1,202$724$427$285
40 years$2,939$1,852$1,127$667$387$255
41 years$2,836$1,763$1,057$616$351$228
42 years$2,737$1,679$991$568$319$205
43 years$2,644$1,599$930$525$289$183
44 years$2,555$1,525$873$484$263$164
45 years$2,470$1,454$820$447$238$147
46 years$2,389$1,387$770$413$217$132
47 years$2,311$1,324$723$382$197$118
48 years$2,237$1,264$680$353$179$106
49 years$2,167$1,207$639$326$162$95
50 years$2,099$1,153$601$301$147$85

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $2,150,000, adding $2,524 every year, while hoping to spend $51,687 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: 42/49/9 Blend
55$2,150,000$2,150,000$2,150,000$2,150,000
56$2,371,904$2,257,954$2,224,629$2,465,164
57$2,558,843$2,313,599$2,244,159$2,586,130
58$2,763,118$2,370,238$2,262,611$2,711,628
59$2,986,442$2,427,866$2,279,895$2,846,345
60$3,230,703$2,486,474$2,295,915$2,991,142
61$3,497,976$2,546,053$2,310,570$3,146,967
62$3,790,550$2,606,591$2,323,754$3,314,863
63$4,110,944$2,668,071$2,335,358$3,495,976
64$4,461,932$2,730,478$2,345,263$3,691,572
65$4,846,567$2,793,790$2,353,348$3,903,042
66$5,268,216$2,857,984$2,359,484$4,131,920
67$5,730,582$2,923,034$2,363,535$4,379,895
68$6,237,748$2,988,909$2,365,360$4,648,827
69$6,794,208$3,055,575$2,364,809$4,940,765
70$7,404,913$3,122,995$2,361,727$5,257,967
71$8,075,318$3,191,125$2,355,948$5,602,920
72$8,811,430$3,259,920$2,347,302$5,978,366
73$9,619,867$3,329,327$2,335,607$6,387,324
74$10,507,918$3,399,289$2,320,676$6,833,121
75$11,483,617$3,469,745$2,302,309$7,319,425
76$12,555,809$3,540,626$2,280,299$7,850,276
77$13,734,242$3,611,857$2,254,430$8,430,127
78$15,029,653$3,683,357$2,224,472$9,063,886
79$16,453,875$3,755,038$2,190,189$9,756,960
80$18,019,939$3,826,804$2,151,329$10,515,311
81$19,742,207$3,898,551$2,107,632$11,345,506
82$21,636,499$3,970,167$2,058,825$12,254,787
83$23,720,248$4,041,531$2,004,622$13,251,132
84$26,012,659$4,112,512$1,944,723$14,343,336
85$28,534,893$4,182,969$1,878,814$15,541,092
86$31,310,268$4,252,749$1,806,570$16,855,083
87$34,364,472$4,321,691$1,727,647$18,297,084
88$37,725,813$4,389,618$1,641,688$19,880,074
89$41,425,480$4,456,343$1,548,318$21,618,356
90$45,497,839$4,521,665$1,447,147$23,527,699
91$49,980,758$4,585,365$1,337,766$25,625,479
92$54,915,962$4,647,215$1,219,748$27,930,850
93$60,349,427$4,706,966$1,092,647$30,464,924
94$66,331,816$4,764,354$955,997$33,250,970
95$72,918,950$4,819,097$809,312$36,314,635
96$80,172,343$4,870,893$652,084$39,684,187
97$88,159,775$4,919,420$483,782$43,390,785
98$96,955,936$4,964,335$303,852$47,468,769
99$106,643,126$5,005,272$111,717$51,955,991
100$117,312,038$5,041,843$0$56,894,170