Can I retire at age 56 with 2,260,000?

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 $2,260,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.1%
1 years$186,629$184,966$183,344$181,761$180,216$175,008
2 years$92,390$90,670$89,002$87,385$85,817$80,612
3 years$60,982$59,254$57,590$55,989$54,446$49,406
4 years$45,281$43,558$41,911$40,337$38,831$33,996
5 years$35,862$34,150$32,525$30,982$29,519$24,901
6 years$29,585$27,886$26,285$24,777$23,357$18,961
7 years$25,104$23,419$21,843$20,370$18,996$14,821
8 years$21,744$20,074$18,524$17,088$15,759$11,803
9 years$19,132$17,478$15,955$14,555$13,271$9,530
10 years$17,044$15,406$13,910$12,547$11,308$7,777
11 years$15,337$13,715$12,246$10,920$9,725$6,398
12 years$13,915$12,310$10,868$9,578$8,427$5,299
13 years$12,713$11,125$9,710$8,456$7,349$4,411
14 years$11,683$10,112$8,724$7,506$6,442$3,687
15 years$10,792$9,237$7,877$6,694$5,672$3,093
16 years$10,013$8,475$7,142$5,994$5,013$2,602
17 years$9,326$7,805$6,499$5,385$4,445$2,194
18 years$8,716$7,212$5,932$4,853$3,952$1,854
19 years$8,171$6,684$5,431$4,385$3,523$1,569
20 years$7,681$6,211$4,984$3,972$3,146$1,330
21 years$7,238$5,786$4,584$3,605$2,816$1,128
22 years$6,836$5,401$4,225$3,278$2,524$958
23 years$6,470$5,051$3,901$2,985$2,266$815
24 years$6,135$4,733$3,608$2,722$2,036$693
25 years$5,827$4,441$3,342$2,486$1,832$590
26 years$5,543$4,174$3,099$2,273$1,651$502
27 years$5,280$3,928$2,878$2,081$1,488$428
28 years$5,037$3,702$2,675$1,906$1,343$365
29 years$4,811$3,492$2,490$1,748$1,213$311
30 years$4,600$3,298$2,319$1,604$1,096$265
31 years$4,404$3,118$2,162$1,474$991$226
32 years$4,220$2,950$2,017$1,354$896$193
33 years$4,047$2,794$1,883$1,245$811$164
34 years$3,885$2,648$1,760$1,146$734$140
35 years$3,733$2,511$1,645$1,055$665$120
36 years$3,589$2,384$1,539$971$602$102
37 years$3,454$2,264$1,441$895$546$87
38 years$3,326$2,152$1,349$825$495$74
39 years$3,205$2,046$1,264$761$449$64
40 years$3,090$1,946$1,185$702$407$54
41 years$2,981$1,853$1,111$647$369$46
42 years$2,877$1,765$1,042$597$335$40
43 years$2,779$1,681$978$551$304$34
44 years$2,685$1,603$918$509$276$29
45 years$2,596$1,528$862$470$251$25
46 years$2,511$1,458$809$434$228$21
47 years$2,430$1,391$760$401$207$18
48 years$2,352$1,328$715$371$188$15
49 years$2,278$1,268$672$343$170$13
50 years$2,207$1,212$631$317$155$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $2,260,000, adding $2,365 every year, while hoping to spend $42,633 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: 65/16/19 Blend
55$2,260,000$2,260,000$2,260,000$2,260,000
56$2,492,959$2,373,179$2,338,149$2,642,956
57$2,701,880$2,444,104$2,371,116$2,814,831
58$2,930,682$2,517,075$2,403,759$2,997,494
59$3,181,348$2,592,148$2,436,021$3,196,100
60$3,456,061$2,669,379$2,467,843$3,412,211
61$3,757,226$2,748,826$2,499,163$3,647,547
62$4,087,493$2,830,548$2,529,915$3,904,002
63$4,449,779$2,914,607$2,560,029$4,183,663
64$4,847,297$3,001,063$2,589,430$4,488,828
65$5,283,586$3,089,980$2,618,041$4,822,027
66$5,762,546$3,181,422$2,645,779$5,186,047
67$6,288,470$3,275,457$2,672,557$5,583,960
68$6,866,090$3,372,150$2,698,284$6,019,147
69$7,500,618$3,471,572$2,722,863$6,495,335
70$8,197,794$3,573,793$2,746,192$7,016,627
71$8,963,944$3,678,883$2,768,165$7,587,545
72$9,806,036$3,786,918$2,788,667$8,213,071
73$10,731,745$3,897,971$2,807,582$8,898,693
74$11,749,530$4,012,118$2,824,783$9,650,458
75$12,868,708$4,129,438$2,840,139$10,475,026
76$14,099,545$4,250,009$2,853,512$11,379,739
77$15,453,352$4,373,913$2,864,758$12,372,682
78$16,942,590$4,501,231$2,873,724$13,462,767
79$18,580,990$4,632,047$2,880,249$14,659,811
80$20,383,679$4,766,446$2,884,166$15,974,632
81$22,367,327$4,904,514$2,885,298$17,419,149
82$24,550,299$5,046,340$2,883,461$19,006,497
83$26,952,832$5,192,013$2,878,459$20,751,149
84$29,597,223$5,341,623$2,870,089$22,669,051
85$32,508,040$5,495,264$2,858,138$24,777,775
86$35,712,356$5,653,027$2,842,381$27,096,685
87$39,240,000$5,815,009$2,822,584$29,647,119
88$43,123,840$5,981,304$2,798,500$32,452,587
89$47,400,094$6,152,011$2,769,873$35,538,999
90$52,108,672$6,327,228$2,736,432$38,934,906
91$57,293,549$6,507,054$2,697,894$42,671,767
92$63,003,181$6,691,590$2,653,964$46,784,253
93$69,290,965$6,880,937$2,604,331$51,310,567
94$76,215,739$7,075,198$2,548,672$56,292,809
95$83,842,338$7,274,477$2,486,646$61,777,372
96$92,242,207$7,478,877$2,417,900$67,815,379
97$101,494,073$7,688,503$2,342,061$74,463,168
98$111,684,690$7,903,461$2,258,740$81,782,822
99$122,909,653$8,123,855$2,167,533$89,842,754
100$135,274,305$8,349,792$2,068,013$98,718,357