Can I retire at age 56 with 2,210,000?

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 $2,210,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11%
1 years$182,500$180,874$179,288$177,740$176,229$175,486
2 years$90,346$88,664$87,033$85,452$83,918$83,169
3 years$59,633$57,943$56,316$54,750$53,241$52,508
4 years$44,279$42,594$40,984$39,444$37,972$37,260
5 years$35,069$33,394$31,805$30,297$28,866$28,178
6 years$28,931$27,269$25,703$24,229$22,841$22,177
7 years$24,548$22,900$21,359$19,920$18,575$17,937
8 years$21,263$19,630$18,115$16,710$15,410$14,797
9 years$18,709$17,091$15,602$14,233$12,978$12,390
10 years$16,667$15,065$13,602$12,269$11,058$10,494
11 years$14,997$13,412$11,975$10,678$9,510$8,971
12 years$13,607$12,038$10,628$9,366$8,241$7,726
13 years$12,432$10,878$9,495$8,269$7,186$6,695
14 years$11,425$9,888$8,531$7,340$6,300$5,831
15 years$10,553$9,033$7,703$6,546$5,547$5,101
16 years$9,791$8,288$6,984$5,861$4,902$4,478
17 years$9,119$7,633$6,355$5,266$4,347$3,943
18 years$8,523$7,053$5,801$4,746$3,865$3,482
19 years$7,990$6,537$5,311$4,288$3,445$3,082
20 years$7,511$6,074$4,874$3,884$3,077$2,733
21 years$7,078$5,658$4,483$3,525$2,753$2,428
22 years$6,685$5,281$4,132$3,205$2,468$2,161
23 years$6,327$4,940$3,815$2,919$2,216$1,925
24 years$5,999$4,628$3,528$2,662$1,991$1,718
25 years$5,698$4,343$3,268$2,431$1,792$1,534
26 years$5,420$4,082$3,031$2,223$1,614$1,371
27 years$5,163$3,842$2,814$2,035$1,455$1,226
28 years$4,926$3,620$2,616$1,864$1,313$1,098
29 years$4,705$3,415$2,435$1,710$1,186$984
30 years$4,499$3,225$2,268$1,569$1,071$882
31 years$4,306$3,049$2,114$1,441$969$791
32 years$4,126$2,885$1,973$1,324$876$710
33 years$3,958$2,732$1,842$1,218$793$637
34 years$3,799$2,589$1,721$1,120$718$572
35 years$3,650$2,456$1,609$1,031$650$514
36 years$3,510$2,331$1,505$950$589$462
37 years$3,377$2,214$1,409$875$534$415
38 years$3,252$2,104$1,319$807$484$373
39 years$3,134$2,001$1,236$744$439$335
40 years$3,021$1,903$1,158$686$398$302
41 years$2,915$1,812$1,086$633$361$271
42 years$2,814$1,726$1,019$584$328$244
43 years$2,717$1,644$956$539$297$220
44 years$2,626$1,567$898$498$270$198
45 years$2,539$1,494$843$460$245$178
46 years$2,455$1,426$792$425$223$160
47 years$2,376$1,361$744$392$202$144
48 years$2,300$1,299$699$363$184$130
49 years$2,227$1,240$657$335$167$117
50 years$2,158$1,185$618$310$151$105

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $2,210,000, adding $3,113 every year, while hoping to spend $55,589 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: 51/19/30 Blend
55$2,210,000$2,210,000$2,210,000$2,210,000
56$2,438,631$2,321,501$2,287,246$2,542,189
57$2,628,225$2,376,108$2,304,723$2,669,498
58$2,835,295$2,431,528$2,320,921$2,802,077
59$3,061,564$2,487,742$2,335,741$2,945,180
60$3,308,930$2,544,728$2,349,075$3,099,839
61$3,579,482$2,602,461$2,360,811$3,267,186
62$3,875,522$2,660,914$2,370,830$3,448,474
63$4,199,582$2,720,056$2,379,010$3,645,081
64$4,554,452$2,779,852$2,385,220$3,858,528
65$4,943,204$2,840,262$2,389,322$4,090,492
66$5,369,221$2,901,245$2,391,175$4,342,822
67$5,836,229$2,962,753$2,390,626$4,617,554
68$6,348,331$3,024,735$2,387,519$4,916,937
69$6,910,047$3,087,133$2,381,687$5,243,448
70$7,526,354$3,149,885$2,372,956$5,599,819
71$8,202,737$3,212,924$2,361,145$5,989,061
72$8,945,235$3,276,176$2,346,062$6,414,494
73$9,760,500$3,339,560$2,327,506$6,879,782
74$10,655,863$3,402,990$2,305,269$7,388,960
75$11,639,396$3,466,372$2,279,131$7,946,479
76$12,719,993$3,529,603$2,248,861$8,557,246
77$13,907,453$3,592,574$2,214,218$9,226,671
78$15,212,569$3,655,166$2,174,951$9,960,720
79$16,647,234$3,717,252$2,130,794$10,765,969
80$18,224,548$3,778,694$2,081,472$11,649,668
81$19,958,947$3,839,344$2,026,696$12,619,811
82$21,866,332$3,899,045$1,966,163$13,685,210
83$23,964,225$3,957,625$1,899,556$14,855,581
84$26,271,930$4,014,903$1,826,545$16,141,634
85$28,810,716$4,070,683$1,746,784$17,555,178
86$31,604,019$4,124,756$1,659,911$19,109,229
87$34,677,659$4,176,899$1,565,549$20,818,139
88$38,060,086$4,226,873$1,463,300$22,697,726
89$41,782,648$4,274,423$1,352,754$24,765,430
90$45,879,885$4,319,277$1,233,478$27,040,477
91$50,389,855$4,361,143$1,105,022$29,544,057
92$55,354,495$4,399,713$966,914$32,299,532
93$60,820,011$4,434,657$818,663$35,332,655
94$66,837,319$4,465,622$659,756$38,671,811
95$73,462,524$4,492,236$489,656$42,348,292
96$80,757,445$4,514,099$307,802$46,396,590
97$88,790,202$4,530,788$113,612$50,854,724
98$97,635,860$4,541,853$0$55,764,602
99$107,377,129$4,546,816$0$61,202,388
100$118,105,154$4,545,168$0$67,229,789