Can I retire at age 56 with 2,400,000?

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 $2,400,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.1%
1 years$198,190$196,424$194,702$193,021$191,379$189,697
2 years$98,114$96,286$94,516$92,799$91,133$89,437
3 years$64,759$62,924$61,158$59,457$57,819$56,162
4 years$48,086$46,256$44,507$42,835$41,237$39,633
5 years$38,084$36,265$34,539$32,902$31,347$29,801
6 years$31,418$29,613$27,913$26,312$24,804$23,317
7 years$26,659$24,869$23,196$21,632$20,172$18,744
8 years$23,091$21,318$19,672$18,147$16,735$15,367
9 years$20,318$18,561$16,943$15,457$14,093$12,784
10 years$18,100$16,360$14,772$13,324$12,008$10,758
11 years$16,287$14,565$13,005$11,596$10,327$9,134
12 years$14,777$13,072$11,541$10,171$8,950$7,813
13 years$13,500$11,814$10,311$8,980$7,804$6,722
14 years$12,407$10,738$9,265$7,971$6,841$5,813
15 years$11,460$9,810$8,365$7,109$6,023$5,048
16 years$10,633$9,000$7,584$6,365$5,324$4,398
17 years$9,904$8,289$6,901$5,719$4,720$3,844
18 years$9,256$7,659$6,300$5,154$4,197$3,368
19 years$8,677$7,099$5,767$4,657$3,741$2,958
20 years$8,157$6,596$5,293$4,218$3,341$2,602
21 years$7,687$6,144$4,868$3,828$2,990$2,293
22 years$7,260$5,735$4,487$3,481$2,680$2,024
23 years$6,871$5,364$4,143$3,170$2,406$1,789
24 years$6,515$5,026$3,832$2,891$2,163$1,582
25 years$6,188$4,717$3,549$2,640$1,946$1,401
26 years$5,886$4,433$3,291$2,414$1,753$1,242
27 years$5,607$4,172$3,056$2,210$1,580$1,101
28 years$5,349$3,931$2,841$2,025$1,426$977
29 years$5,109$3,708$2,644$1,857$1,288$868
30 years$4,885$3,502$2,463$1,704$1,163$771
31 years$4,677$3,311$2,296$1,565$1,052$685
32 years$4,481$3,133$2,142$1,438$951$609
33 years$4,298$2,967$2,000$1,323$861$542
34 years$4,126$2,812$1,869$1,217$780$482
35 years$3,964$2,667$1,747$1,120$706$429
36 years$3,812$2,531$1,634$1,032$640$382
37 years$3,668$2,404$1,530$951$580$340
38 years$3,532$2,285$1,433$876$526$303
39 years$3,403$2,173$1,342$808$477$270
40 years$3,281$2,067$1,258$745$432$241
41 years$3,165$1,968$1,180$687$392$214
42 years$3,056$1,874$1,107$634$356$191
43 years$2,951$1,785$1,038$586$323$170
44 years$2,852$1,702$975$541$293$152
45 years$2,757$1,623$915$499$266$135
46 years$2,666$1,548$860$461$242$121
47 years$2,580$1,477$808$426$219$108
48 years$2,498$1,410$759$394$199$96
49 years$2,419$1,347$713$364$181$85
50 years$2,343$1,287$671$336$164$76

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $2,400,000, adding $4,464 every year, while hoping to spend $45,221 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: 50/32/18 Blend
55$2,400,000$2,400,000$2,400,000$2,400,000
56$2,649,405$2,522,205$2,485,005$2,768,426
57$2,871,529$2,597,678$2,520,137$2,926,521
58$3,114,795$2,675,334$2,554,932$3,093,210
59$3,381,310$2,755,231$2,589,328$3,273,393
60$3,673,397$2,837,431$2,623,264$3,468,356
61$3,993,614$2,921,996$2,656,674$3,679,518
62$4,344,777$3,008,988$2,689,487$3,908,440
63$4,729,989$3,098,473$2,721,629$4,156,838
64$5,152,667$3,190,517$2,753,023$4,426,604
65$5,616,575$3,285,188$2,783,585$4,719,818
66$6,125,859$3,382,556$2,813,228$5,038,774
67$6,685,086$3,482,691$2,841,862$5,385,994
68$7,299,288$3,585,666$2,869,387$5,764,257
69$7,974,007$3,691,555$2,895,703$6,176,622
70$8,715,348$3,800,433$2,920,701$6,626,460
71$9,530,037$3,912,379$2,944,269$7,117,481
72$10,425,485$4,027,470$2,966,286$7,653,772
73$11,409,856$4,145,787$2,986,628$8,239,837
74$12,492,143$4,267,412$3,005,161$8,880,633
75$13,682,255$4,392,429$3,021,748$9,581,623
76$14,991,110$4,520,923$3,036,242$10,348,824
77$16,430,737$4,652,981$3,048,489$11,188,864
78$18,014,386$4,788,692$3,058,328$12,109,046
79$19,756,662$4,928,146$3,065,590$13,117,413
80$21,673,650$5,071,434$3,070,096$14,222,830
81$23,783,079$5,218,650$3,071,660$15,435,058
82$26,104,478$5,369,890$3,070,087$16,764,857
83$28,659,370$5,525,249$3,065,169$18,224,078
84$31,471,466$5,684,827$3,056,693$19,825,779
85$34,566,894$5,848,722$3,044,431$21,584,350
86$37,974,444$6,017,036$3,028,146$23,515,643
87$41,725,839$6,189,872$3,007,590$25,637,126
88$45,856,032$6,367,334$2,982,502$27,968,045
89$50,403,542$6,549,527$2,952,610$30,529,609
90$55,410,808$6,736,559$2,917,628$33,345,186
91$60,924,599$6,928,538$2,877,256$36,440,524
92$66,996,445$7,125,574$2,831,182$39,843,997
93$73,683,132$7,327,777$2,779,076$43,586,870
94$81,047,232$7,535,258$2,720,595$47,703,594
95$89,157,695$7,748,132$2,655,381$52,232,132
96$98,090,501$7,966,511$2,583,057$57,214,317
97$107,929,372$8,190,510$2,503,230$62,696,246
98$118,766,568$8,420,245$2,415,488$68,728,717
99$130,703,753$8,655,832$2,319,402$75,367,706
100$143,852,954$8,897,387$2,214,520$82,674,895