Can I retire at age 56 with 2,510,000?

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 $2,510,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.5%
1 years$207,273$205,427$203,626$201,868$200,151$194,055
2 years$102,611$100,700$98,848$97,052$95,310$89,221
3 years$67,728$65,808$63,961$62,182$60,469$54,577
4 years$50,289$48,376$46,547$44,799$43,127$37,478
5 years$39,829$37,927$36,122$34,410$32,784$27,393
6 years$32,858$30,971$29,192$27,518$25,941$20,813
7 years$27,881$26,009$24,259$22,624$21,097$16,232
8 years$24,149$22,295$20,574$18,979$17,502$12,896
9 years$21,249$19,411$17,720$16,166$14,739$10,388
10 years$18,930$17,110$15,449$13,935$12,559$8,456
11 years$17,033$15,232$13,601$12,127$10,801$6,939
12 years$15,454$13,672$12,070$10,637$9,360$5,731
13 years$14,119$12,355$10,784$9,391$8,162$4,758
14 years$12,976$11,230$9,690$8,337$7,155$3,967
15 years$11,986$10,259$8,748$7,435$6,300$3,318
16 years$11,120$9,413$7,932$6,657$5,568$2,783
17 years$10,357$8,669$7,217$5,981$4,937$2,340
18 years$9,680$8,010$6,589$5,390$4,389$1,971
19 years$9,075$7,424$6,032$4,871$3,912$1,663
20 years$8,531$6,899$5,535$4,411$3,495$1,405
21 years$8,039$6,426$5,092$4,003$3,127$1,189
22 years$7,593$5,998$4,693$3,640$2,803$1,007
23 years$7,186$5,610$4,333$3,315$2,516$853
24 years$6,813$5,256$4,007$3,024$2,262$723
25 years$6,471$4,933$3,711$2,761$2,035$613
26 years$6,156$4,636$3,442$2,525$1,833$521
27 years$5,864$4,363$3,196$2,311$1,653$442
28 years$5,594$4,111$2,971$2,117$1,491$376
29 years$5,343$3,878$2,765$1,942$1,347$319
30 years$5,109$3,663$2,576$1,782$1,217$271
31 years$4,891$3,463$2,401$1,637$1,100$231
32 years$4,687$3,276$2,240$1,504$995$196
33 years$4,495$3,103$2,092$1,383$901$167
34 years$4,315$2,941$1,954$1,273$815$142
35 years$4,146$2,789$1,827$1,171$738$121
36 years$3,986$2,647$1,709$1,079$669$103
37 years$3,836$2,514$1,600$994$606$87
38 years$3,694$2,390$1,498$916$550$74
39 years$3,559$2,272$1,404$845$499$63
40 years$3,432$2,162$1,316$779$452$54
41 years$3,311$2,058$1,234$719$410$46
42 years$3,196$1,960$1,157$664$372$39
43 years$3,086$1,867$1,086$612$338$33
44 years$2,982$1,780$1,019$566$307$28
45 years$2,883$1,697$957$522$278$24
46 years$2,789$1,619$899$482$253$20
47 years$2,698$1,545$845$446$230$17
48 years$2,612$1,475$794$412$208$15
49 years$2,530$1,409$746$381$189$13
50 years$2,451$1,346$701$352$172$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $2,510,000, adding $3,664 every year, while hoping to spend $54,629 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: 61/33/6 Blend
55$2,510,000$2,510,000$2,510,000$2,510,000
56$2,769,799$2,636,769$2,597,864$2,935,475
57$2,994,194$2,707,846$2,626,768$3,117,691
58$3,239,646$2,780,575$2,654,809$3,309,752
59$3,508,246$2,854,979$2,681,901$3,517,898
60$3,802,294$2,931,080$2,707,952$3,743,679
61$4,124,326$3,008,901$2,732,866$3,988,802
62$4,477,133$3,088,463$2,756,543$4,255,142
63$4,863,788$3,169,785$2,778,874$4,544,767
64$5,287,676$3,252,886$2,799,748$4,859,952
65$5,752,526$3,337,784$2,819,047$5,203,202
66$6,262,444$3,424,496$2,836,645$5,577,276
67$6,821,953$3,513,037$2,852,413$5,985,212
68$7,436,036$3,603,419$2,866,212$6,430,355
69$8,110,180$3,695,654$2,877,898$6,916,388
70$8,850,429$3,789,753$2,887,319$7,447,371
71$9,663,445$3,885,722$2,894,316$8,027,772
72$10,556,561$3,983,567$2,898,720$8,662,514
73$11,537,859$4,083,292$2,900,357$9,357,020
74$12,616,243$4,184,895$2,899,041$10,117,263
75$13,801,520$4,288,375$2,894,579$10,949,824
76$15,104,495$4,393,726$2,886,768$11,861,953
77$16,537,074$4,500,938$2,875,394$12,861,634
78$18,112,371$4,609,999$2,860,235$13,957,668
79$19,844,836$4,720,893$2,841,056$15,159,746
80$21,750,390$4,833,597$2,817,613$16,478,551
81$23,846,574$4,948,088$2,789,648$17,925,847
82$26,152,715$5,064,335$2,756,891$19,514,601
83$28,690,107$5,182,302$2,719,062$21,259,097
84$31,482,212$5,301,949$2,675,864$23,175,075
85$34,554,881$5,423,228$2,626,990$25,279,878
86$37,936,600$5,546,087$2,572,114$27,592,614
87$41,658,753$5,670,465$2,510,900$30,134,342
88$45,755,923$5,796,295$2,442,993$32,928,263
89$50,266,216$5,923,503$2,368,022$35,999,944
90$55,231,620$6,052,003$2,285,600$39,377,556
91$60,698,399$6,181,706$2,195,321$43,092,145
92$66,717,534$6,312,508$2,096,763$47,177,919
93$73,345,200$6,444,298$1,989,482$51,672,573
94$80,643,295$6,576,954$1,873,015$56,617,648
95$88,680,029$6,710,342$1,746,878$62,058,918
96$97,530,559$6,844,316$1,610,566$68,046,825
97$107,277,706$6,978,717$1,463,550$74,636,955
98$118,012,732$7,113,374$1,305,278$81,890,562
99$129,836,200$7,248,099$1,135,175$89,875,149
100$142,858,926$7,382,690$952,637$98,665,100