Can I retire at age 56 with 2,460,000?

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 $2,460,000?

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$203,145$201,335$199,570$197,846$196,164$194,764
2 years$100,567$98,694$96,878$95,118$93,411$92,000
3 years$66,378$64,497$62,687$60,943$59,264$57,885
4 years$49,288$47,412$45,620$43,906$42,268$40,931
5 years$39,036$37,172$35,403$33,724$32,131$30,841
6 years$32,204$30,354$28,611$26,970$25,424$24,182
7 years$27,325$25,491$23,776$22,173$20,677$19,484
8 years$23,668$21,850$20,164$18,600$17,153$16,009
9 years$20,825$19,025$17,367$15,843$14,446$13,350
10 years$18,552$16,769$15,141$13,657$12,308$11,261
11 years$16,694$14,929$13,330$11,886$10,586$9,585
12 years$15,146$13,399$11,830$10,426$9,173$8,219
13 years$13,838$12,109$10,569$9,204$7,999$7,090
14 years$12,717$11,007$9,496$8,170$7,012$6,147
15 years$11,747$10,055$8,574$7,287$6,174$5,352
16 years$10,899$9,225$7,774$6,524$5,457$4,676
17 years$10,151$8,496$7,074$5,862$4,838$4,098
18 years$9,487$7,851$6,457$5,283$4,302$3,601
19 years$8,894$7,276$5,911$4,774$3,834$3,172
20 years$8,361$6,761$5,425$4,323$3,425$2,799
21 years$7,879$6,298$4,990$3,924$3,065$2,474
22 years$7,441$5,879$4,599$3,568$2,747$2,190
23 years$7,043$5,498$4,247$3,249$2,466$1,941
24 years$6,678$5,152$3,927$2,963$2,217$1,722
25 years$6,342$4,834$3,637$2,706$1,995$1,530
26 years$6,033$4,544$3,374$2,474$1,797$1,360
27 years$5,748$4,276$3,133$2,265$1,620$1,210
28 years$5,483$4,029$2,912$2,075$1,462$1,077
29 years$5,237$3,801$2,710$1,903$1,320$960
30 years$5,007$3,590$2,524$1,746$1,193$855
31 years$4,793$3,394$2,353$1,604$1,078$763
32 years$4,593$3,211$2,196$1,474$975$680
33 years$4,405$3,041$2,050$1,356$883$607
34 years$4,229$2,882$1,916$1,247$799$542
35 years$4,063$2,734$1,791$1,148$724$484
36 years$3,907$2,595$1,675$1,057$656$432
37 years$3,760$2,464$1,568$974$594$386
38 years$3,620$2,342$1,468$898$539$345
39 years$3,488$2,227$1,376$828$489$309
40 years$3,363$2,119$1,290$764$443$276
41 years$3,245$2,017$1,209$705$402$247
42 years$3,132$1,921$1,134$650$365$221
43 years$3,025$1,830$1,064$600$331$197
44 years$2,923$1,744$999$554$301$176
45 years$2,826$1,664$938$512$273$158
46 years$2,733$1,587$881$473$248$141
47 years$2,645$1,514$828$437$225$126
48 years$2,560$1,446$778$404$204$113
49 years$2,479$1,381$731$373$186$101
50 years$2,402$1,319$687$345$169$91

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $2,460,000, adding $2,653 every year, while hoping to spend $57,323 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: 61/9/30 Blend
55$2,460,000$2,460,000$2,460,000$2,460,000
56$2,713,657$2,583,277$2,545,147$2,856,974
57$2,929,458$2,648,866$2,569,418$3,020,645
58$3,165,351$2,715,748$2,592,581$3,192,860
59$3,423,322$2,783,925$2,614,538$3,379,670
60$3,705,563$2,853,399$2,635,187$3,582,515
61$4,014,483$2,924,169$2,654,419$3,802,984
62$4,352,739$2,996,231$2,672,120$4,042,824
63$4,723,252$3,069,581$2,688,170$4,303,964
64$5,129,245$3,144,211$2,702,444$4,588,530
65$5,574,261$3,220,111$2,714,810$4,898,861
66$6,062,207$3,297,268$2,725,127$5,237,540
67$6,597,383$3,375,665$2,733,250$5,607,411
68$7,184,528$3,455,284$2,739,026$6,011,610
69$7,828,859$3,536,102$2,742,292$6,453,592
70$8,536,124$3,618,093$2,742,881$6,937,167
71$9,312,655$3,701,226$2,740,614$7,466,533
72$10,165,427$3,785,467$2,735,305$8,046,318
73$11,102,122$3,870,776$2,726,759$8,681,622
74$12,131,204$3,957,110$2,714,771$9,378,067
75$13,261,997$4,044,419$2,699,127$10,141,851
76$14,504,774$4,132,648$2,679,600$10,979,804
77$15,870,851$4,221,738$2,655,957$11,899,454
78$17,372,695$4,311,621$2,627,949$12,909,099
79$19,024,043$4,402,222$2,595,318$14,017,887
80$20,840,027$4,493,463$2,557,792$15,235,898
81$22,837,320$4,585,253$2,515,089$16,574,245
82$25,034,293$4,677,497$2,466,911$18,045,176
83$27,451,186$4,770,089$2,412,947$19,662,189
84$30,110,298$4,862,915$2,352,872$21,440,165
85$33,036,202$4,955,851$2,286,347$23,395,504
86$36,255,969$5,048,762$2,213,014$25,546,282
87$39,799,430$5,141,504$2,132,502$27,912,423
88$43,699,452$5,233,918$2,044,421$30,515,885
89$47,992,252$5,325,836$1,948,365$33,380,872
90$52,717,734$5,417,074$1,843,908$36,534,060
91$57,919,869$5,507,437$1,730,605$40,004,850
92$63,647,107$5,596,713$1,607,991$43,825,649
93$69,952,835$5,684,674$1,475,582$48,032,173
94$76,895,879$5,771,078$1,332,869$52,663,785
95$84,541,061$5,855,664$1,179,323$57,763,872
96$92,959,809$5,938,151$1,014,389$63,380,251
97$102,230,829$6,018,239$837,491$69,565,624
98$112,440,850$6,095,610$648,023$76,378,074
99$123,685,441$6,169,919$445,357$83,881,617
100$136,069,913$6,240,802$228,833$92,146,808