Can I retire at age 56 with 2,380,000?

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 $2,380,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14%
1 years$196,538$194,788$193,080$191,412$189,785$186,640
2 years$97,296$95,484$93,728$92,025$90,374$87,215
3 years$64,220$62,400$60,648$58,961$57,337$54,262
4 years$47,685$45,871$44,136$42,478$40,893$37,926
5 years$37,766$35,963$34,252$32,627$31,086$28,236
6 years$31,156$29,367$27,680$26,092$24,597$21,866
7 years$26,437$24,662$23,003$21,452$20,004$17,393
8 years$22,899$21,140$19,508$17,996$16,596$14,104
9 years$20,148$18,406$16,802$15,328$13,976$11,603
10 years$17,949$16,224$14,649$13,213$11,908$9,652
11 years$16,151$14,443$12,896$11,499$10,241$8,099
12 years$14,654$12,964$11,445$10,086$8,875$6,844
13 years$13,388$11,715$10,226$8,905$7,739$5,816
14 years$12,304$10,649$9,188$7,905$6,784$4,966
15 years$11,365$9,728$8,295$7,050$5,973$4,257
16 years$10,544$8,925$7,521$6,312$5,279$3,661
17 years$9,821$8,220$6,844$5,671$4,681$3,157
18 years$9,179$7,595$6,247$5,111$4,162$2,729
19 years$8,605$7,039$5,719$4,618$3,710$2,363
20 years$8,089$6,541$5,249$4,183$3,314$2,050
21 years$7,623$6,093$4,828$3,796$2,965$1,781
22 years$7,199$5,688$4,450$3,452$2,658$1,550
23 years$6,814$5,319$4,108$3,143$2,386$1,350
24 years$6,460$4,984$3,800$2,867$2,145$1,176
25 years$6,136$4,677$3,519$2,618$1,930$1,026
26 years$5,837$4,396$3,264$2,394$1,738$896
27 years$5,561$4,137$3,031$2,191$1,567$783
28 years$5,305$3,898$2,818$2,008$1,414$684
29 years$5,066$3,678$2,622$1,841$1,277$598
30 years$4,845$3,473$2,442$1,690$1,154$523
31 years$4,638$3,283$2,277$1,552$1,043$458
32 years$4,444$3,107$2,124$1,426$944$401
33 years$4,262$2,942$1,983$1,311$854$351
34 years$4,092$2,788$1,853$1,207$773$307
35 years$3,931$2,645$1,733$1,111$700$269
36 years$3,780$2,510$1,621$1,023$634$236
37 years$3,637$2,384$1,517$943$575$207
38 years$3,502$2,266$1,421$869$521$181
39 years$3,375$2,155$1,331$801$473$159
40 years$3,254$2,050$1,248$739$429$139
41 years$3,139$1,951$1,170$682$389$122
42 years$3,030$1,858$1,097$629$353$107
43 years$2,926$1,771$1,030$581$320$94
44 years$2,828$1,688$967$536$291$82
45 years$2,734$1,609$908$495$264$72
46 years$2,644$1,535$852$457$240$63
47 years$2,559$1,465$801$423$218$55
48 years$2,477$1,399$753$391$198$49
49 years$2,399$1,336$707$361$180$43
50 years$2,324$1,276$665$334$163$37

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $2,380,000, adding $5,146 every year, while hoping to spend $33,949 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: 84/11/5 Blend
55$2,380,000$2,380,000$2,380,000$2,380,000
56$2,628,068$2,501,928$2,465,038$2,848,336
57$2,860,010$2,588,401$2,511,495$3,079,261
58$3,114,471$2,677,973$2,558,371$3,327,675
59$3,393,714$2,770,761$2,605,644$3,599,423
60$3,700,230$2,866,885$2,653,289$3,896,824
61$4,036,761$2,966,470$2,701,282$4,222,431
62$4,406,330$3,069,646$2,749,594$4,579,055
63$4,812,266$3,176,550$2,798,197$4,969,793
64$5,258,238$3,287,321$2,847,056$5,398,053
65$5,748,284$3,402,106$2,896,139$5,867,593
66$6,286,858$3,521,058$2,945,408$6,382,546
67$6,878,861$3,644,334$2,994,824$6,947,470
68$7,529,698$3,772,099$3,044,343$7,567,382
69$8,245,319$3,904,524$3,093,921$8,247,809
70$9,032,283$4,041,787$3,143,508$8,994,840
71$9,897,815$4,184,073$3,193,054$9,815,182
72$10,849,874$4,331,575$3,242,504$10,716,222
73$11,897,231$4,484,492$3,291,798$11,706,100
74$13,049,550$4,643,033$3,340,874$12,793,782
75$14,317,477$4,807,415$3,389,667$13,989,146
76$15,712,745$4,977,864$3,438,106$15,303,073
77$17,248,279$5,154,613$3,486,116$16,747,552
78$18,938,321$5,337,907$3,533,619$18,335,792
79$20,798,566$5,528,000$3,580,531$20,082,344
80$22,846,304$5,725,157$3,626,764$22,003,243
81$25,100,590$5,929,652$3,672,223$24,116,151
82$27,582,418$6,141,773$3,716,810$26,440,532
83$30,314,921$6,361,817$3,760,420$28,997,829
84$33,323,592$6,590,094$3,802,942$31,811,670
85$36,636,518$6,826,928$3,844,261$34,908,087
86$40,284,650$7,072,656$3,884,252$38,315,763
87$44,302,096$7,327,627$3,922,785$42,066,303
88$48,726,436$7,592,207$3,959,725$46,194,533
89$53,599,083$7,866,775$3,994,926$50,738,822
90$58,965,670$8,151,728$4,028,236$55,741,451
91$64,876,482$8,447,477$4,059,496$61,249,007
92$71,386,931$8,754,451$4,088,537$67,312,825
93$78,558,077$9,073,098$4,115,183$73,989,470
94$86,457,205$9,403,884$4,139,245$81,341,270
95$95,158,460$9,747,294$4,160,529$89,436,905
96$104,743,544$10,103,833$4,178,829$98,352,056
97$115,302,494$10,474,029$4,193,928$108,170,115
98$126,934,522$10,858,430$4,205,598$118,982,975
99$139,748,959$11,257,609$4,213,601$130,891,894
100$153,866,283$11,672,162$4,217,687$144,008,453