Can I retire at age 56 with 2,170,000?

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 $2,170,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.7%
1 years$179,197$177,600$176,043$174,523$173,039$170,383
2 years$88,711$87,059$85,458$83,905$82,399$79,730
3 years$58,553$56,894$55,297$53,759$52,278$49,678
4 years$43,477$41,823$40,242$38,730$37,285$34,774
5 years$34,434$32,790$31,229$29,749$28,343$25,930
6 years$28,407$26,775$25,238$23,790$22,427$20,113
7 years$24,104$22,486$20,973$19,559$18,239$16,026
8 years$20,878$19,275$17,787$16,408$15,131$13,018
9 years$18,370$16,782$15,320$13,976$12,743$10,729
10 years$16,365$14,793$13,356$12,047$10,857$8,941
11 years$14,726$13,169$11,758$10,485$9,338$7,517
12 years$13,361$11,820$10,435$9,196$8,092$6,364
13 years$12,207$10,682$9,323$8,119$7,056$5,419
14 years$11,218$9,709$8,377$7,207$6,185$4,636
15 years$10,362$8,870$7,563$6,428$5,446$3,982
16 years$9,614$8,138$6,857$5,755$4,813$3,432
17 years$8,954$7,494$6,240$5,171$4,268$2,966
18 years$8,369$6,925$5,696$4,660$3,795$2,569
19 years$7,846$6,418$5,215$4,211$3,382$2,230
20 years$7,375$5,964$4,786$3,814$3,021$1,939
21 years$6,950$5,555$4,402$3,461$2,704$1,689
22 years$6,564$5,186$4,057$3,147$2,423$1,472
23 years$6,212$4,850$3,746$2,866$2,175$1,285
24 years$5,890$4,544$3,464$2,614$1,955$1,123
25 years$5,595$4,265$3,209$2,387$1,759$982
26 years$5,322$4,008$2,976$2,183$1,585$859
27 years$5,070$3,772$2,763$1,998$1,429$752
28 years$4,836$3,554$2,569$1,831$1,289$659
29 years$4,619$3,353$2,391$1,679$1,164$578
30 years$4,417$3,167$2,227$1,541$1,052$507
31 years$4,228$2,994$2,076$1,415$951$444
32 years$4,052$2,832$1,937$1,300$860$390
33 years$3,886$2,682$1,808$1,196$779$342
34 years$3,731$2,542$1,690$1,100$705$301
35 years$3,584$2,411$1,580$1,013$638$264
36 years$3,446$2,289$1,478$933$578$232
37 years$3,316$2,174$1,383$859$524$204
38 years$3,193$2,066$1,295$792$475$179
39 years$3,077$1,964$1,214$730$431$157
40 years$2,967$1,869$1,138$674$391$138
41 years$2,862$1,779$1,067$622$355$121
42 years$2,763$1,694$1,001$574$322$107
43 years$2,668$1,614$939$530$292$94
44 years$2,578$1,539$881$489$265$82
45 years$2,493$1,467$827$452$241$72
46 years$2,411$1,400$777$417$219$64
47 years$2,333$1,336$730$385$198$56
48 years$2,258$1,275$686$356$180$49
49 years$2,187$1,218$645$329$164$43
50 years$2,119$1,163$606$304$149$38

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $2,170,000, adding $6,843 every year, while hoping to spend $21,244 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: 51/27/22 Blend
55$2,170,000$2,170,000$2,170,000$2,170,000
56$2,398,399$2,283,389$2,249,754$2,505,686
57$2,620,432$2,372,671$2,302,517$2,669,911
58$2,864,400$2,465,617$2,356,336$2,845,640
59$3,132,519$2,562,382$2,411,223$3,036,268
60$3,427,229$2,663,131$2,467,192$3,243,217
61$3,751,217$2,768,036$2,524,254$3,468,048
62$4,107,446$2,877,274$2,582,421$3,712,479
63$4,499,180$2,991,034$2,641,706$3,978,401
64$4,930,012$3,109,511$2,702,119$4,267,892
65$5,403,904$3,232,909$2,763,671$4,583,239
66$5,925,221$3,361,440$2,826,373$4,926,956
67$6,498,772$3,495,328$2,890,234$5,301,812
68$7,129,853$3,634,806$2,955,264$5,710,853
69$7,824,303$3,780,116$3,021,470$6,157,430
70$8,588,554$3,931,514$3,088,861$6,645,233
71$9,429,693$4,089,265$3,157,445$7,178,321
72$10,355,529$4,253,646$3,227,227$7,761,163
73$11,374,667$4,424,949$3,298,212$8,398,679
74$12,496,587$4,603,475$3,370,407$9,096,285
75$13,731,737$4,789,543$3,443,813$9,859,941
76$15,091,627$4,983,484$3,518,434$10,696,214
77$16,588,943$5,185,645$3,594,272$11,612,330
78$18,237,662$5,396,388$3,671,326$12,616,247
79$20,053,184$5,616,091$3,749,596$13,716,729
80$22,052,480$5,845,151$3,829,079$14,923,425
81$24,254,252$6,083,983$3,909,772$16,246,961
82$26,679,105$6,333,018$3,991,669$17,699,041
83$29,349,748$6,592,709$4,074,764$19,292,554
84$32,291,201$6,863,531$4,159,048$21,041,694
85$35,531,038$7,145,978$4,244,510$22,962,095
86$39,099,641$7,440,569$4,331,138$25,070,979
87$43,030,492$7,747,844$4,418,919$27,387,310
88$47,360,484$8,068,370$4,507,834$29,931,983
89$52,130,273$8,402,740$4,597,866$32,728,009
90$57,384,659$8,751,573$4,688,994$35,800,739
91$63,173,012$9,115,517$4,781,192$39,178,096
92$69,549,733$9,495,251$4,874,436$42,890,841
93$76,574,771$9,891,484$4,968,695$46,972,863
94$84,314,188$10,304,957$5,063,937$51,461,492
95$92,840,783$10,736,448$5,160,126$56,397,853
96$102,234,777$11,186,768$5,257,224$61,827,255
97$112,584,571$11,656,766$5,355,189$67,799,611
98$123,987,583$12,147,333$5,453,973$74,369,915
99$136,551,163$12,659,399$5,553,527$81,598,750
100$150,393,608$13,193,936$5,653,797$89,552,867