Can I retire at age 56 with 2,360,000?

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 $2,360,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.7%
1 years$194,887$193,151$191,457$189,804$188,190$186,847
2 years$96,479$94,682$92,940$91,252$89,614$88,260
3 years$63,680$61,876$60,139$58,466$56,855$55,532
4 years$47,284$45,485$43,765$42,121$40,549$39,267
5 years$37,449$35,661$33,964$32,353$30,825$29,587
6 years$30,895$29,120$27,448$25,873$24,391$23,199
7 years$26,215$24,455$22,809$21,272$19,836$18,692
8 years$22,706$20,962$19,344$17,844$16,456$15,358
9 years$19,979$18,251$16,661$15,199$13,858$12,807
10 years$17,798$16,088$14,525$13,102$11,808$10,803
11 years$16,015$14,322$12,788$11,403$10,155$9,195
12 years$14,531$12,855$11,349$10,002$8,800$7,885
13 years$13,275$11,617$10,140$8,830$7,674$6,802
14 years$12,200$10,559$9,110$7,838$6,727$5,897
15 years$11,269$9,646$8,226$6,990$5,923$5,134
16 years$10,456$8,850$7,458$6,259$5,235$4,486
17 years$9,738$8,151$6,786$5,624$4,642$3,932
18 years$9,102$7,532$6,195$5,068$4,127$3,455
19 years$8,532$6,980$5,671$4,580$3,679$3,043
20 years$8,021$6,486$5,205$4,148$3,286$2,685
21 years$7,559$6,042$4,787$3,764$2,940$2,373
22 years$7,139$5,640$4,412$3,423$2,636$2,101
23 years$6,756$5,275$4,074$3,117$2,366$1,862
24 years$6,406$4,942$3,768$2,843$2,127$1,652
25 years$6,084$4,638$3,490$2,596$1,914$1,467
26 years$5,788$4,359$3,236$2,374$1,724$1,305
27 years$5,514$4,102$3,005$2,173$1,554$1,161
28 years$5,260$3,866$2,794$1,991$1,402$1,033
29 years$5,024$3,647$2,600$1,826$1,266$921
30 years$4,804$3,444$2,422$1,675$1,144$821
31 years$4,599$3,256$2,258$1,539$1,034$732
32 years$4,407$3,080$2,106$1,414$936$653
33 years$4,226$2,917$1,967$1,300$847$583
34 years$4,057$2,765$1,838$1,197$767$520
35 years$3,898$2,622$1,718$1,101$694$464
36 years$3,748$2,489$1,607$1,014$629$415
37 years$3,607$2,364$1,504$935$570$371
38 years$3,473$2,247$1,409$862$517$331
39 years$3,346$2,136$1,320$794$469$296
40 years$3,226$2,033$1,237$733$425$265
41 years$3,113$1,935$1,160$676$386$237
42 years$3,005$1,843$1,088$624$350$212
43 years$2,902$1,756$1,021$576$318$189
44 years$2,804$1,674$958$532$288$169
45 years$2,711$1,596$900$491$262$151
46 years$2,622$1,522$845$454$238$135
47 years$2,537$1,453$794$419$216$121
48 years$2,456$1,387$746$387$196$108
49 years$2,378$1,324$701$358$178$97
50 years$2,304$1,265$659$331$162$87

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $2,360,000, adding $6,265 every year, while hoping to spend $25,793 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: 48/43/9 Blend
55$2,360,000$2,360,000$2,360,000$2,360,000
56$2,607,182$2,482,102$2,445,522$2,725,695
57$2,845,671$2,576,282$2,500,004$2,901,872
58$3,107,622$2,674,212$2,555,446$3,089,827
59$3,395,400$2,776,048$2,611,854$3,293,297
60$3,711,611$2,881,955$2,669,231$3,513,736
61$4,059,127$2,992,103$2,727,582$3,752,739
62$4,441,111$3,106,669$2,786,909$4,012,060
63$4,861,048$3,225,839$2,847,214$4,293,627
64$5,322,777$3,349,807$2,908,498$4,599,558
65$5,830,528$3,478,776$2,970,761$4,932,182
66$6,388,963$3,612,957$3,034,002$5,294,060
67$7,003,214$3,752,569$3,098,219$5,688,006
68$7,678,941$3,897,844$3,163,408$6,117,117
69$8,422,376$4,049,021$3,229,565$6,584,798
70$9,240,386$4,206,351$3,296,683$7,094,795
71$10,140,541$4,370,097$3,364,757$7,651,228
72$11,131,176$4,540,532$3,433,777$8,258,630
73$12,221,480$4,717,942$3,503,732$8,921,988
74$13,421,574$4,902,625$3,574,611$9,646,792
75$14,742,614$5,094,893$3,646,399$10,439,080
76$16,196,889$5,295,071$3,719,082$11,305,498
77$17,797,942$5,503,500$3,792,642$12,253,363
78$19,560,695$5,720,534$3,867,058$13,290,725
79$21,501,590$5,946,544$3,942,309$14,426,449
80$23,638,747$6,181,919$4,018,370$15,670,289
81$25,992,129$6,427,063$4,095,216$17,032,988
82$28,583,736$6,682,400$4,172,816$18,526,370
83$31,437,811$6,948,371$4,251,138$20,163,455
84$34,581,064$7,225,438$4,330,149$21,958,578
85$38,042,933$7,514,084$4,409,808$23,927,523
86$41,855,851$7,814,814$4,490,077$26,087,671
87$46,055,563$8,128,155$4,570,909$28,458,163
88$50,681,453$8,454,657$4,652,257$31,060,076
89$55,776,923$8,794,897$4,734,070$33,916,623
90$61,389,799$9,149,477$4,816,291$37,053,368
91$67,572,783$9,519,025$4,898,860$40,498,467
92$74,383,949$9,904,200$4,981,715$44,282,931
93$81,887,295$10,305,688$5,064,785$48,440,914
94$90,153,341$10,724,210$5,147,998$53,010,037
95$99,259,801$11,160,515$5,231,275$58,031,739
96$109,292,311$11,615,390$5,314,533$63,551,666
97$120,345,239$12,089,657$5,397,682$69,620,096
98$132,522,577$12,584,174$5,480,628$76,292,415
99$145,938,920$13,099,838$5,563,269$83,629,637
100$160,720,550$13,637,590$5,645,499$91,698,973