Can I retire at age 56 with 2,430,000?

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 $2,430,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.7%
1 years$200,667$198,880$197,136$195,434$193,772$186,231
2 years$99,340$97,490$95,697$93,958$92,272$84,766
3 years$65,569$63,711$61,922$60,200$58,541$51,306
4 years$48,687$46,834$45,064$43,371$41,752$34,843
5 years$38,560$36,719$34,971$33,313$31,739$25,174
6 years$31,811$29,983$28,262$26,641$25,114$18,897
7 years$26,992$25,180$23,486$21,903$20,425$14,553
8 years$23,380$21,584$19,918$18,374$16,944$11,413
9 years$20,571$18,793$17,155$15,650$14,269$9,070
10 years$18,326$16,565$14,956$13,491$12,158$7,281
11 years$16,490$14,747$13,167$11,741$10,457$5,890
12 years$14,962$13,236$11,686$10,298$9,061$4,794
13 years$13,669$11,961$10,440$9,092$7,902$3,921
14 years$12,562$10,873$9,381$8,071$6,927$3,219
15 years$11,604$9,932$8,469$7,198$6,099$2,651
16 years$10,766$9,113$7,679$6,445$5,390$2,189
17 years$10,027$8,392$6,987$5,791$4,779$1,811
18 years$9,372$7,755$6,379$5,218$4,249$1,500
19 years$8,786$7,187$5,839$4,715$3,788$1,245
20 years$8,259$6,679$5,359$4,271$3,383$1,034
21 years$7,783$6,221$4,929$3,876$3,028$860
22 years$7,351$5,807$4,543$3,524$2,714$716
23 years$6,957$5,431$4,195$3,209$2,436$596
24 years$6,596$5,089$3,879$2,927$2,190$497
25 years$6,265$4,775$3,593$2,673$1,970$414
26 years$5,960$4,488$3,332$2,444$1,775$345
27 years$5,677$4,224$3,094$2,237$1,600$288
28 years$5,416$3,980$2,877$2,050$1,444$240
29 years$5,173$3,755$2,677$1,880$1,304$201
30 years$4,946$3,546$2,494$1,725$1,178$167
31 years$4,735$3,352$2,325$1,584$1,065$140
32 years$4,537$3,172$2,169$1,456$963$117
33 years$4,352$3,004$2,025$1,339$872$97
34 years$4,178$2,847$1,892$1,232$789$81
35 years$4,014$2,700$1,769$1,134$715$68
36 years$3,859$2,563$1,655$1,045$648$57
37 years$3,714$2,434$1,549$962$587$47
38 years$3,576$2,313$1,451$887$532$40
39 years$3,446$2,200$1,359$818$483$33
40 years$3,322$2,093$1,274$754$438$28
41 years$3,205$1,992$1,194$696$397$23
42 years$3,094$1,897$1,120$642$360$19
43 years$2,988$1,808$1,051$593$327$16
44 years$2,887$1,723$987$548$297$13
45 years$2,791$1,643$927$506$270$11
46 years$2,700$1,568$870$467$245$9
47 years$2,612$1,496$818$432$222$8
48 years$2,529$1,428$768$399$202$7
49 years$2,449$1,364$722$369$183$5
50 years$2,373$1,303$679$341$166$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $2,430,000, adding $6,588 every year, while hoping to spend $49,722 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: 44/37/19 Blend
55$2,430,000$2,430,000$2,430,000$2,430,000
56$2,684,656$2,555,866$2,518,201$2,787,759
57$2,905,587$2,628,199$2,549,656$2,933,277
58$3,147,386$2,702,411$2,580,500$3,085,497
59$3,412,130$2,778,539$2,610,657$3,249,455
60$3,702,105$2,856,625$2,640,052$3,426,261
61$4,019,829$2,936,709$2,668,602$3,617,134
62$4,368,073$3,018,830$2,696,222$3,823,419
63$4,749,893$3,103,028$2,722,822$4,046,594
64$5,168,651$3,189,346$2,748,305$4,288,287
65$5,628,051$3,277,822$2,772,572$4,550,290
66$6,132,175$3,368,497$2,795,515$4,834,577
67$6,685,516$3,461,413$2,817,025$5,143,321
68$7,293,026$3,556,610$2,836,982$5,478,916
69$7,960,157$3,654,127$2,855,264$5,843,996
70$8,692,919$3,754,004$2,871,740$6,241,466
71$9,497,928$3,856,281$2,886,275$6,674,523
72$10,382,475$3,960,998$2,898,724$7,146,689
73$11,354,592$4,068,192$2,908,936$7,661,843
74$12,423,128$4,177,901$2,916,753$8,224,262
75$13,597,832$4,290,162$2,922,009$8,838,652
76$14,889,443$4,405,012$2,924,528$9,510,202
77$16,309,794$4,522,486$2,924,128$10,244,626
78$17,871,922$4,642,617$2,920,615$11,048,223
79$19,590,191$4,765,438$2,913,789$11,927,929
80$21,480,427$4,890,980$2,903,437$12,891,389
81$23,560,065$5,019,273$2,889,337$13,947,025
82$25,848,319$5,150,345$2,871,257$15,104,120
83$28,366,356$5,284,220$2,848,952$16,372,898
84$31,137,500$5,420,923$2,822,168$17,764,628
85$34,187,451$5,560,474$2,790,637$19,291,728
86$37,544,526$5,702,892$2,754,078$20,967,880
87$41,239,926$5,848,192$2,712,198$22,808,161
88$45,308,031$5,996,386$2,664,689$24,829,186
89$49,786,724$6,147,483$2,611,230$27,049,265
90$54,717,748$6,301,488$2,551,485$29,488,574
91$60,147,100$6,458,402$2,485,100$32,169,347
92$66,125,461$6,618,221$2,411,708$35,116,086
93$72,708,681$6,780,937$2,330,924$38,355,792
94$79,958,300$6,946,536$2,242,343$41,918,220
95$87,942,130$7,115,000$2,145,545$45,836,162
96$96,734,895$7,286,303$2,040,089$50,145,753
97$106,418,936$7,460,414$1,925,514$54,886,818
98$117,084,988$7,637,294$1,801,339$60,103,242
99$128,833,034$7,816,899$1,667,060$65,843,388
100$141,773,249$7,999,173$1,522,153$72,160,557