Can I retire at age 56 with 2,370,000?

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 $2,370,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.9%
1 years$195,712$193,969$192,268$190,608$188,987$186,703
2 years$96,887$95,083$93,334$91,639$89,994$87,695
3 years$63,950$62,138$60,393$58,714$57,096$54,854
4 years$47,484$45,678$43,951$42,300$40,721$38,553
5 years$37,608$35,812$34,108$32,490$30,956$28,868
6 years$31,025$29,243$27,564$25,983$24,494$22,490
7 years$26,326$24,558$22,906$21,362$19,920$18,000
8 years$22,802$21,051$19,426$17,920$16,526$14,689
9 years$20,064$18,329$16,732$15,264$13,917$12,163
10 years$17,874$16,156$14,587$13,158$11,858$10,185
11 years$16,083$14,383$12,842$11,451$10,198$8,606
12 years$14,592$12,909$11,397$10,044$8,838$7,323
13 years$13,332$11,666$10,183$8,867$7,707$6,269
14 years$12,252$10,604$9,149$7,872$6,756$5,392
15 years$11,317$9,687$8,260$7,020$5,948$4,657
16 years$10,500$8,888$7,489$6,286$5,257$4,036
17 years$9,780$8,185$6,815$5,648$4,661$3,507
18 years$9,140$7,564$6,221$5,090$4,145$3,056
19 years$8,569$7,010$5,695$4,599$3,694$2,668
20 years$8,055$6,514$5,227$4,165$3,300$2,334
21 years$7,591$6,067$4,808$3,780$2,953$2,044
22 years$7,169$5,664$4,431$3,437$2,647$1,793
23 years$6,785$5,297$4,091$3,130$2,376$1,575
24 years$6,433$4,963$3,784$2,855$2,136$1,385
25 years$6,110$4,658$3,504$2,607$1,922$1,219
26 years$5,813$4,377$3,250$2,384$1,731$1,073
27 years$5,537$4,120$3,018$2,182$1,561$946
28 years$5,282$3,882$2,806$1,999$1,408$834
29 years$5,045$3,662$2,611$1,833$1,272$736
30 years$4,824$3,458$2,432$1,683$1,149$649
31 years$4,618$3,269$2,267$1,545$1,039$573
32 years$4,425$3,094$2,115$1,420$940$506
33 years$4,244$2,930$1,975$1,306$850$448
34 years$4,074$2,777$1,845$1,202$770$396
35 years$3,915$2,634$1,725$1,106$697$350
36 years$3,764$2,500$1,614$1,019$632$309
37 years$3,622$2,374$1,511$939$573$274
38 years$3,488$2,256$1,415$865$519$242
39 years$3,361$2,145$1,325$798$471$214
40 years$3,240$2,041$1,242$736$427$189
41 years$3,126$1,943$1,165$679$387$168
42 years$3,017$1,851$1,093$626$352$148
43 years$2,914$1,763$1,025$578$319$131
44 years$2,816$1,681$963$534$290$116
45 years$2,722$1,603$904$493$263$103
46 years$2,633$1,529$849$456$239$91
47 years$2,548$1,459$797$421$217$81
48 years$2,466$1,393$749$389$197$71
49 years$2,388$1,330$704$359$179$63
50 years$2,314$1,271$662$332$162$56

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $2,370,000, adding $5,964 every year, while hoping to spend $21,310 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: 55/22/23 Blend
55$2,370,000$2,370,000$2,370,000$2,370,000
56$2,617,892$2,492,282$2,455,547$2,745,110
57$2,862,243$2,591,730$2,515,134$2,932,476
58$3,130,804$2,695,337$2,576,003$3,133,683
59$3,426,021$2,803,284$2,638,175$3,352,360
60$3,750,591$2,915,760$2,701,669$3,590,189
61$4,107,483$3,032,964$2,766,506$3,849,020
62$4,499,969$3,155,102$2,832,707$4,130,889
63$4,931,655$3,282,391$2,900,292$4,438,037
64$5,406,513$3,415,057$2,969,281$4,772,928
65$5,928,918$3,553,336$3,039,693$5,138,274
66$6,503,694$3,697,476$3,111,549$5,537,059
67$7,136,153$3,847,734$3,184,867$5,972,567
68$7,832,148$4,004,381$3,259,668$6,448,414
69$8,598,130$4,167,699$3,335,970$6,968,579
70$9,441,207$4,337,983$3,413,792$7,537,442
71$10,369,208$4,515,542$3,493,153$8,159,824
72$11,390,763$4,700,699$3,574,069$8,841,036
73$12,515,379$4,893,792$3,656,558$9,586,920
74$13,753,533$5,095,173$3,740,638$10,403,914
75$15,116,768$5,305,211$3,826,325$11,299,102
76$16,617,805$5,524,294$3,913,633$12,280,287
77$18,270,661$5,752,824$4,002,580$13,356,062
78$20,090,780$5,991,223$4,093,177$14,535,888
79$22,095,181$6,239,935$4,185,440$15,830,187
80$24,302,618$6,499,420$4,279,381$17,250,434
81$26,733,756$6,770,162$4,375,011$18,809,269
82$29,411,366$7,052,668$4,472,341$20,520,614
83$32,360,542$7,347,465$4,571,381$22,399,800
84$35,608,934$7,655,108$4,672,140$24,463,719
85$39,187,012$7,976,175$4,774,623$26,730,972
86$43,128,352$8,311,272$4,878,838$29,222,051
87$47,469,953$8,661,034$4,984,788$31,959,529
88$52,252,587$9,026,122$5,092,477$34,968,272
89$57,521,181$9,407,233$5,201,905$38,275,670
90$63,325,245$9,805,090$5,313,072$41,911,899
91$69,719,335$10,220,456$5,425,975$45,910,202
92$76,763,573$10,654,123$5,540,611$50,307,198
93$84,524,208$11,106,926$5,656,973$55,143,235
94$93,074,247$11,579,735$5,775,051$60,462,759
95$102,494,140$12,073,462$5,894,834$66,314,739
96$112,872,541$12,589,060$6,016,310$72,753,126
97$124,307,144$13,127,528$6,139,461$79,837,359
98$136,905,608$13,689,912$6,264,268$87,632,926
99$150,786,568$14,277,306$6,390,708$96,211,980
100$166,080,758$14,890,854$6,518,757$105,654,017