Can I retire at age 56 with 2,190,000?

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 $2,190,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.6%
1 years$180,848$179,237$177,666$176,132$174,634$169,247
2 years$89,529$87,861$86,245$84,679$83,159$77,779
3 years$59,093$57,418$55,807$54,254$52,759$47,555
4 years$43,878$42,209$40,613$39,087$37,628$32,639
5 years$34,751$33,092$31,517$30,023$28,605$23,844
6 years$28,669$27,022$25,471$24,009$22,634$18,107
7 years$24,326$22,693$21,166$19,739$18,407$14,113
8 years$21,071$19,452$17,951$16,559$15,271$11,206
9 years$18,540$16,937$15,461$14,105$12,860$9,021
10 years$16,516$14,929$13,479$12,158$10,957$7,338
11 years$14,862$13,290$11,867$10,581$9,424$6,018
12 years$13,484$11,929$10,531$9,281$8,166$4,967
13 years$12,319$10,780$9,409$8,194$7,121$4,121
14 years$11,321$9,799$8,454$7,274$6,242$3,433
15 years$10,458$8,951$7,633$6,487$5,496$2,870
16 years$9,703$8,213$6,920$5,808$4,858$2,406
17 years$9,037$7,564$6,297$5,219$4,307$2,021
18 years$8,446$6,989$5,749$4,703$3,830$1,701
19 years$7,918$6,477$5,263$4,250$3,414$1,435
20 years$7,443$6,019$4,830$3,849$3,049$1,211
21 years$7,014$5,607$4,442$3,493$2,729$1,024
22 years$6,625$5,234$4,094$3,176$2,446$866
23 years$6,270$4,895$3,780$2,892$2,195$733
24 years$5,945$4,586$3,496$2,638$1,973$621
25 years$5,646$4,304$3,238$2,409$1,776$527
26 years$5,371$4,045$3,003$2,203$1,599$447
27 years$5,117$3,807$2,789$2,016$1,442$379
28 years$4,881$3,587$2,593$1,847$1,301$322
29 years$4,662$3,384$2,413$1,694$1,175$273
30 years$4,458$3,196$2,247$1,555$1,062$232
31 years$4,267$3,021$2,095$1,428$960$197
32 years$4,089$2,859$1,955$1,312$868$167
33 years$3,922$2,707$1,825$1,207$786$142
34 years$3,765$2,566$1,705$1,110$711$121
35 years$3,617$2,434$1,594$1,022$644$103
36 years$3,478$2,310$1,491$941$584$87
37 years$3,347$2,194$1,396$867$529$74
38 years$3,223$2,085$1,307$799$480$63
39 years$3,105$1,983$1,225$737$435$54
40 years$2,994$1,886$1,148$680$395$46
41 years$2,888$1,795$1,076$627$358$39
42 years$2,788$1,710$1,010$579$325$33
43 years$2,693$1,629$948$534$295$28
44 years$2,602$1,553$889$493$268$24
45 years$2,516$1,481$835$456$243$20
46 years$2,433$1,413$784$421$221$17
47 years$2,354$1,348$737$389$200$15
48 years$2,279$1,287$692$359$182$12
49 years$2,207$1,229$651$332$165$11
50 years$2,138$1,174$612$307$150$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $2,190,000, adding $3,894 every year, while hoping to spend $50,364 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: 61/32/7 Blend
55$2,190,000$2,190,000$2,190,000$2,190,000
56$2,417,397$2,301,327$2,267,382$2,561,243
57$2,610,384$2,360,505$2,289,752$2,717,079
58$2,821,369$2,420,895$2,311,184$2,880,864
59$3,052,132$2,482,502$2,331,592$3,058,285
60$3,304,637$2,545,333$2,350,889$3,250,655
61$3,581,046$2,609,390$2,368,979$3,459,422
62$3,883,737$2,674,674$2,385,764$3,686,180
63$4,215,331$2,741,186$2,401,140$3,932,682
64$4,578,715$2,808,925$2,414,999$4,200,860
65$4,977,067$2,877,885$2,427,224$4,492,841
66$5,413,887$2,948,061$2,437,696$4,810,968
67$5,893,032$3,019,444$2,446,286$5,157,821
68$6,418,747$3,092,023$2,452,863$5,536,241
69$6,995,712$3,165,784$2,457,286$5,949,359
70$7,629,077$3,240,710$2,459,408$6,400,621
71$8,324,520$3,316,781$2,459,075$6,893,826
72$9,088,291$3,393,975$2,456,125$7,433,156
73$9,927,280$3,472,262$2,450,388$8,023,222
74$10,849,073$3,551,614$2,441,686$8,669,099
75$11,862,029$3,631,993$2,429,834$9,376,382
76$12,975,357$3,713,362$2,414,634$10,151,234
77$14,199,201$3,795,674$2,395,882$11,000,445
78$15,544,739$3,878,881$2,373,363$11,931,496
79$17,024,284$3,962,928$2,346,852$12,952,630
80$18,651,403$4,047,753$2,316,113$14,072,930
81$20,441,043$4,133,290$2,280,900$15,302,404
82$22,409,673$4,219,465$2,240,954$16,652,079
83$24,575,438$4,306,198$2,196,005$18,134,107
84$26,958,331$4,393,399$2,145,769$19,761,876
85$29,580,379$4,480,974$2,089,950$21,550,140
86$32,465,853$4,568,817$2,028,239$23,515,159
87$35,641,496$4,656,816$1,960,311$25,674,848
88$39,136,775$4,744,846$1,885,828$28,048,949
89$42,984,157$4,832,775$1,804,435$30,659,219
90$47,219,419$4,920,458$1,715,761$33,529,630
91$51,881,979$5,007,741$1,619,419$36,686,603
92$57,015,276$5,094,455$1,515,004$40,159,250
93$62,667,171$5,180,420$1,402,093$43,979,657
94$68,890,404$5,265,442$1,280,245$48,183,177
95$75,743,089$5,349,312$1,148,997$52,808,774
96$83,289,262$5,431,807$1,007,866$57,899,384
97$91,599,487$5,512,685$856,350$63,502,326
98$100,751,518$5,591,691$693,922$69,669,742
99$110,831,037$5,668,548$520,032$76,459,099
100$121,932,457$5,742,960$334,107$83,933,722