Can I retire at age 56 with 2,480,000?

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 $2,480,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.6%
1 years$204,796$202,972$201,192$199,455$197,759$196,430
2 years$101,384$99,496$97,666$95,892$94,171$92,831
3 years$66,918$65,022$63,196$61,439$59,746$58,436
4 years$49,688$47,798$45,991$44,263$42,611$41,342
5 years$39,353$37,474$35,691$33,998$32,392$31,167
6 years$32,465$30,600$28,843$27,189$25,631$24,451
7 years$27,548$25,698$23,969$22,353$20,845$19,711
8 years$23,861$22,028$20,328$18,752$17,293$16,205
9 years$20,995$19,179$17,508$15,972$14,563$13,521
10 years$18,703$16,906$15,264$13,768$12,408$11,412
11 years$16,830$15,050$13,438$11,983$10,672$9,720
12 years$15,270$13,508$11,926$10,510$9,248$8,340
13 years$13,950$12,207$10,655$9,279$8,064$7,199
14 years$12,821$11,096$9,574$8,237$7,069$6,246
15 years$11,842$10,137$8,644$7,346$6,224$5,441
16 years$10,987$9,300$7,837$6,577$5,501$4,758
17 years$10,234$8,565$7,131$5,910$4,878$4,173
18 years$9,564$7,915$6,510$5,326$4,337$3,669
19 years$8,966$7,335$5,959$4,812$3,866$3,234
20 years$8,429$6,816$5,469$4,359$3,453$2,855
21 years$7,943$6,349$5,031$3,956$3,090$2,526
22 years$7,502$5,927$4,637$3,597$2,770$2,237
23 years$7,100$5,543$4,281$3,275$2,486$1,985
24 years$6,732$5,193$3,959$2,987$2,235$1,762
25 years$6,394$4,874$3,667$2,728$2,011$1,567
26 years$6,082$4,581$3,401$2,495$1,811$1,394
27 years$5,794$4,311$3,158$2,283$1,633$1,241
28 years$5,527$4,062$2,936$2,092$1,474$1,106
29 years$5,279$3,832$2,732$1,918$1,331$986
30 years$5,048$3,619$2,545$1,761$1,202$879
31 years$4,832$3,421$2,373$1,617$1,087$785
32 years$4,631$3,237$2,214$1,486$983$701
33 years$4,441$3,066$2,067$1,367$890$626
34 years$4,264$2,905$1,931$1,257$806$559
35 years$4,096$2,756$1,805$1,157$730$500
36 years$3,939$2,616$1,689$1,066$661$447
37 years$3,790$2,484$1,581$982$599$400
38 years$3,650$2,361$1,480$905$543$357
39 years$3,517$2,245$1,387$835$493$320
40 years$3,391$2,136$1,300$770$447$286
41 years$3,271$2,033$1,219$710$405$256
42 years$3,157$1,936$1,143$656$368$229
43 years$3,049$1,845$1,073$605$334$205
44 years$2,947$1,759$1,007$559$303$184
45 years$2,849$1,677$946$516$275$164
46 years$2,755$1,600$888$477$250$147
47 years$2,666$1,527$834$440$227$132
48 years$2,581$1,457$784$407$206$118
49 years$2,499$1,392$737$376$187$106
50 years$2,421$1,330$693$348$170$95

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $2,480,000, adding $4,202 every year, while hoping to spend $37,762 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: 49/25/26 Blend
55$2,480,000$2,480,000$2,480,000$2,480,000
56$2,737,294$2,605,854$2,567,414$2,851,052
57$2,976,320$2,693,363$2,613,244$3,018,543
58$3,238,460$2,783,893$2,659,344$3,196,312
59$3,526,034$2,877,555$2,705,682$3,388,703
60$3,841,593$2,974,459$2,752,226$3,597,114
61$4,187,950$3,074,722$2,798,941$3,823,085
62$4,568,203$3,178,465$2,845,787$4,068,311
63$4,985,764$3,285,814$2,892,725$4,334,655
64$5,444,392$3,396,899$2,939,711$4,624,170
65$5,948,227$3,511,854$2,986,699$4,939,116
66$6,501,831$3,630,820$3,033,638$5,281,978
67$7,110,230$3,753,942$3,080,477$5,655,495
68$7,778,959$3,881,371$3,127,159$6,062,680
69$8,514,119$4,013,264$3,173,625$6,506,853
70$9,322,429$4,149,784$3,219,811$6,991,667
71$10,211,292$4,291,099$3,265,650$7,521,147
72$11,188,866$4,437,384$3,311,071$8,099,724
73$12,264,136$4,588,823$3,355,999$8,732,279
74$13,447,006$4,745,603$3,400,352$9,424,186
75$14,748,384$4,907,921$3,444,047$10,181,366
76$16,180,291$5,075,980$3,486,995$11,010,338
77$17,755,971$5,249,994$3,529,099$11,918,284
78$19,490,016$5,430,180$3,570,261$12,913,115
79$21,398,507$5,616,768$3,610,374$14,003,546
80$23,499,160$5,809,995$3,649,326$15,199,175
81$25,811,497$6,010,107$3,687,001$16,510,577
82$28,357,028$6,217,361$3,723,274$17,949,401
83$31,159,455$6,432,022$3,758,014$19,528,480
84$34,244,895$6,654,366$3,791,083$21,261,953
85$37,642,126$6,884,682$3,822,336$23,165,395
86$41,382,858$7,123,266$3,851,619$25,255,967
87$45,502,034$7,370,431$3,878,773$27,552,576
88$50,038,157$7,626,497$3,903,627$30,076,051
89$55,033,654$7,891,801$3,926,004$32,849,343
90$60,535,277$8,166,689$3,945,716$35,897,738
91$66,594,544$8,451,526$3,962,566$39,249,097
92$73,268,223$8,746,686$3,976,347$42,934,117
93$80,618,870$9,052,562$3,986,843$46,986,622
94$88,715,418$9,369,561$3,993,826$51,443,879
95$97,633,826$9,698,105$3,997,054$56,346,952
96$107,457,800$10,038,635$3,996,279$61,741,089
97$118,279,576$10,391,609$3,991,235$67,676,144
98$130,200,797$10,757,503$3,981,646$74,207,055
99$143,333,469$11,136,811$3,967,222$81,394,353
100$157,801,018$11,530,050$3,947,659$89,304,741