Can I retire at age 56 with 2,490,000?

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 $2,490,000?

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 years$205,622$203,790$202,003$200,259$198,556$196,892
2 years$101,793$99,897$98,060$96,278$94,551$92,874
3 years$67,188$65,284$63,451$61,687$59,987$58,349
4 years$49,889$47,991$46,176$44,442$42,783$41,197
5 years$39,512$37,625$35,835$34,135$32,523$30,993
6 years$32,596$30,724$28,960$27,298$25,734$24,262
7 years$27,659$25,802$24,066$22,444$20,929$19,516
8 years$23,957$22,117$20,410$18,827$17,363$16,008
9 years$21,079$19,257$17,579$16,037$14,622$13,325
10 years$18,779$16,974$15,326$13,824$12,458$11,220
11 years$16,898$15,111$13,492$12,031$10,715$9,533
12 years$15,331$13,563$11,974$10,553$9,285$8,159
13 years$14,007$12,257$10,698$9,316$8,097$7,025
14 years$12,872$11,141$9,612$8,270$7,098$6,078
15 years$11,890$10,178$8,679$7,375$6,249$5,281
16 years$11,032$9,338$7,868$6,604$5,523$4,605
17 years$10,275$8,600$7,160$5,934$4,897$4,028
18 years$9,603$7,946$6,536$5,347$4,354$3,532
19 years$9,002$7,365$5,984$4,832$3,881$3,104
20 years$8,463$6,844$5,491$4,376$3,467$2,733
21 years$7,975$6,375$5,051$3,972$3,102$2,410
22 years$7,532$5,950$4,655$3,611$2,781$2,129
23 years$7,129$5,565$4,298$3,289$2,496$1,882
24 years$6,759$5,214$3,975$2,999$2,244$1,666
25 years$6,420$4,893$3,682$2,739$2,019$1,477
26 years$6,107$4,599$3,415$2,505$1,819$1,310
27 years$5,818$4,328$3,171$2,293$1,640$1,162
28 years$5,550$4,078$2,948$2,100$1,479$1,032
29 years$5,301$3,848$2,743$1,926$1,336$918
30 years$5,069$3,634$2,555$1,768$1,207$816
31 years$4,852$3,435$2,382$1,624$1,091$726
32 years$4,649$3,250$2,223$1,492$987$646
33 years$4,459$3,078$2,075$1,372$893$575
34 years$4,281$2,917$1,939$1,262$809$512
35 years$4,113$2,767$1,813$1,162$733$456
36 years$3,955$2,626$1,696$1,070$664$406
37 years$3,805$2,494$1,587$986$602$362
38 years$3,664$2,370$1,486$909$545$323
39 years$3,531$2,254$1,393$838$495$288
40 years$3,404$2,145$1,305$773$449$257
41 years$3,284$2,041$1,224$713$407$229
42 years$3,170$1,944$1,148$658$369$204
43 years$3,062$1,852$1,077$608$335$182
44 years$2,958$1,766$1,011$561$304$162
45 years$2,860$1,684$950$518$276$145
46 years$2,766$1,606$892$479$251$129
47 years$2,677$1,533$838$442$228$115
48 years$2,591$1,463$787$409$207$103
49 years$2,509$1,397$740$378$188$92
50 years$2,431$1,335$696$349$171$82

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $2,490,000, adding $5,354 every year, while hoping to spend $44,158 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: 33/45/22 Blend
55$2,490,000$2,490,000$2,490,000$2,490,000
56$2,749,503$2,617,533$2,578,938$2,821,515
57$2,982,968$2,698,808$2,618,348$2,957,056
58$3,238,767$2,782,586$2,657,599$3,098,645
59$3,519,131$2,868,942$2,696,638$3,250,339
60$3,826,517$2,957,955$2,735,411$3,413,057
61$4,163,633$3,049,706$2,773,858$3,587,807
62$4,533,458$3,144,276$2,811,917$3,775,700
63$4,939,278$3,241,753$2,849,523$3,977,953
64$5,384,709$3,342,223$2,886,606$4,195,910
65$5,873,734$3,445,777$2,923,093$4,431,044
66$6,410,744$3,552,509$2,958,905$4,684,977
67$7,000,572$3,662,514$2,993,961$4,959,496
68$7,648,544$3,775,891$3,028,173$5,256,564
69$8,360,528$3,892,742$3,061,449$5,578,340
70$9,142,987$4,013,172$3,093,692$5,927,205
71$10,003,042$4,137,287$3,124,801$6,305,774
72$10,948,538$4,265,200$3,154,667$6,716,929
73$11,988,117$4,397,023$3,183,177$7,163,841
74$13,131,303$4,532,875$3,210,212$7,650,001
75$14,388,586$4,672,877$3,235,644$8,179,253
76$15,771,526$4,817,152$3,259,342$8,755,829
77$17,292,858$4,965,828$3,281,166$9,384,389
78$18,966,613$5,119,038$3,300,969$10,070,066
79$20,808,253$5,276,916$3,318,597$10,818,510
80$22,834,812$5,439,602$3,333,887$11,635,946
81$25,065,060$5,607,239$3,346,670$12,529,228
82$27,519,678$5,779,976$3,356,765$13,505,906
83$30,221,453$5,957,963$3,363,984$14,574,297
84$33,195,494$6,141,356$3,368,131$15,743,560
85$36,469,469$6,330,316$3,368,997$17,023,784
86$40,073,861$6,525,009$3,366,366$18,426,087
87$44,042,264$6,725,603$3,360,008$19,962,711
88$48,411,692$6,932,274$3,349,684$21,647,145
89$53,222,930$7,145,201$3,335,144$23,494,250
90$58,520,921$7,364,569$3,316,125$25,520,398
91$64,355,189$7,590,567$3,292,349$27,743,624
92$70,780,305$7,823,390$3,263,529$30,183,801
93$77,856,400$8,063,240$3,229,361$32,862,822
94$85,649,736$8,310,323$3,189,528$35,804,811
95$94,233,330$8,564,850$3,143,698$39,036,344
96$103,687,642$8,827,040$3,091,524$42,586,706
97$114,101,332$9,097,115$3,032,641$46,488,163
98$125,572,102$9,375,308$2,966,668$50,776,266
99$138,207,612$9,661,853$2,893,207$55,490,190
100$152,126,499$9,956,995$2,811,841$60,673,097