Can I retire at age 56 with 2,230,000?

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 $2,230,000?

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$184,151$182,511$180,911$179,349$177,823$176,703
2 years$91,164$89,466$87,821$86,225$84,678$83,547
3 years$60,172$58,467$56,826$55,245$53,723$52,618
4 years$44,679$42,980$41,355$39,801$38,316$37,244
5 years$35,386$33,696$32,093$30,571$29,127$28,093
6 years$29,193$27,516$25,936$24,448$23,047$22,051
7 years$24,771$23,108$21,553$20,100$18,744$17,786
8 years$21,455$19,808$18,278$16,861$15,550$14,631
9 years$18,878$17,246$15,743$14,362$13,095$12,215
10 years$16,818$15,202$13,725$12,380$11,158$10,315
11 years$15,133$13,533$12,084$10,775$9,596$8,791
12 years$13,730$12,147$10,724$9,451$8,316$7,548
13 years$12,544$10,977$9,581$8,344$7,251$6,519
14 years$11,528$9,978$8,609$7,407$6,357$5,660
15 years$10,649$9,115$7,772$6,605$5,597$4,934
16 years$9,880$8,363$7,047$5,914$4,946$4,317
17 years$9,202$7,702$6,412$5,314$4,386$3,789
18 years$8,600$7,117$5,854$4,789$3,900$3,334
19 years$8,062$6,596$5,359$4,327$3,476$2,940
20 years$7,579$6,129$4,918$3,919$3,105$2,598
21 years$7,142$5,709$4,524$3,557$2,778$2,300
22 years$6,746$5,329$4,169$3,234$2,490$2,039
23 years$6,384$4,984$3,850$2,945$2,236$1,810
24 years$6,053$4,670$3,560$2,686$2,009$1,609
25 years$5,749$4,382$3,297$2,453$1,808$1,431
26 years$5,469$4,119$3,058$2,243$1,629$1,274
27 years$5,210$3,876$2,840$2,053$1,468$1,135
28 years$4,970$3,653$2,640$1,881$1,325$1,012
29 years$4,747$3,446$2,457$1,725$1,196$903
30 years$4,539$3,254$2,288$1,583$1,081$806
31 years$4,345$3,076$2,133$1,454$977$720
32 years$4,164$2,911$1,990$1,336$884$644
33 years$3,994$2,757$1,858$1,229$800$575
34 years$3,834$2,613$1,736$1,131$724$515
35 years$3,683$2,478$1,623$1,041$656$460
36 years$3,542$2,352$1,519$959$594$412
37 years$3,408$2,234$1,421$883$539$369
38 years$3,282$2,123$1,331$814$488$330
39 years$3,162$2,019$1,247$751$443$295
40 years$3,049$1,921$1,169$692$402$265
41 years$2,941$1,828$1,096$639$365$237
42 years$2,839$1,741$1,028$589$331$212
43 years$2,742$1,659$965$544$300$190
44 years$2,650$1,581$906$502$272$170
45 years$2,561$1,508$850$464$247$153
46 years$2,477$1,439$799$429$225$137
47 years$2,397$1,373$750$396$204$123
48 years$2,321$1,311$705$366$185$110
49 years$2,247$1,252$663$338$168$99
50 years$2,177$1,195$623$313$153$88

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $2,230,000, adding $6,173 every year, while hoping to spend $39,974 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: 85/5/10 Blend
55$2,230,000$2,230,000$2,230,000$2,230,000
56$2,463,827$2,345,637$2,311,072$2,669,156
57$2,672,606$2,418,042$2,345,961$2,876,645
58$2,901,340$2,492,654$2,380,679$3,098,526
59$3,152,023$2,569,540$2,415,178$3,341,067
60$3,426,850$2,648,768$2,449,408$3,606,322
61$3,728,239$2,730,408$2,483,313$3,896,556
62$4,058,853$2,814,532$2,516,838$4,214,259
63$4,421,625$2,901,213$2,549,921$4,562,178
64$4,819,786$2,990,528$2,582,499$4,943,336
65$5,256,895$3,082,555$2,614,503$5,361,065
66$5,736,872$3,177,374$2,645,863$5,819,032
67$6,264,036$3,275,068$2,676,502$6,321,281
68$6,843,143$3,375,722$2,706,340$6,872,263
69$7,479,435$3,479,423$2,735,294$7,476,883
70$8,178,685$3,586,263$2,763,274$8,140,546
71$8,947,253$3,696,332$2,790,186$8,869,203
72$9,792,147$3,809,726$2,815,931$9,669,415
73$10,721,087$3,926,543$2,840,405$10,548,407
74$11,742,578$4,046,884$2,863,499$11,514,140
75$12,865,991$4,170,852$2,885,097$12,575,385
76$14,101,651$4,298,553$2,905,076$13,741,807
77$15,460,933$4,430,096$2,923,310$15,024,054
78$16,956,371$4,565,593$2,939,664$16,433,858
79$18,601,774$4,705,160$2,953,995$17,984,146
80$20,412,357$4,848,915$2,966,157$19,689,161
81$22,404,885$4,996,980$2,975,991$21,564,598
82$24,597,832$5,149,480$2,983,335$23,627,749
83$27,011,549$5,306,543$2,988,015$25,897,669
84$29,668,465$5,468,302$2,989,852$28,395,354
85$32,593,291$5,634,891$2,988,654$31,143,939
86$35,813,257$5,806,451$2,984,224$34,168,917
87$39,358,366$5,983,124$2,976,353$37,498,378
88$43,261,679$6,165,056$2,964,820$41,163,276
89$47,559,626$6,352,400$2,949,397$45,197,719
90$52,292,349$6,545,309$2,929,843$49,639,292
91$57,504,082$6,743,942$2,905,906$54,529,411
92$63,243,565$6,948,462$2,877,321$59,913,714
93$69,564,509$7,159,037$2,843,811$65,842,491
94$76,526,097$7,375,838$2,805,087$72,371,158
95$84,193,547$7,599,041$2,760,845$79,560,783
96$92,638,722$7,828,828$2,710,767$87,478,659
97$101,940,815$8,065,384$2,654,521$96,198,939
98$112,187,089$8,308,899$2,591,759$105,803,338
99$123,473,705$8,559,567$2,522,115$116,381,903
100$135,906,627$8,817,590$2,445,210$128,033,861