Can I retire at age 56 with 2,550,000?

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 $2,550,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.7%
1 years$210,577$208,701$206,871$205,085$203,341$199,398
2 years$104,246$102,304$100,423$98,598$96,829$92,873
3 years$68,807$66,857$64,980$63,173$61,432$57,586
4 years$51,091$49,147$47,289$45,513$43,814$40,107
5 years$40,464$38,532$36,698$34,958$33,307$29,750
6 years$33,382$31,464$29,658$27,956$26,354$22,952
7 years$28,325$26,424$24,646$22,984$21,433$18,185
8 years$24,534$22,650$20,901$19,281$17,781$14,687
9 years$21,587$19,721$18,002$16,423$14,974$12,032
10 years$19,231$17,383$15,695$14,157$12,759$9,966
11 years$17,305$15,475$13,818$12,321$10,973$8,326
12 years$15,701$13,889$12,263$10,807$9,509$7,004
13 years$14,344$12,552$10,956$9,541$8,292$5,925
14 years$13,183$11,409$9,844$8,469$7,269$5,035
15 years$12,177$10,423$8,888$7,553$6,400$4,295
16 years$11,297$9,563$8,058$6,763$5,656$3,676
17 years$10,522$8,807$7,332$6,077$5,015$3,154
18 years$9,834$8,138$6,694$5,476$4,459$2,712
19 years$9,219$7,542$6,128$4,948$3,975$2,337
20 years$8,667$7,009$5,624$4,482$3,550$2,017
21 years$8,167$6,528$5,173$4,067$3,177$1,743
22 years$7,714$6,094$4,767$3,698$2,848$1,508
23 years$7,300$5,699$4,402$3,368$2,556$1,306
24 years$6,922$5,340$4,071$3,072$2,298$1,132
25 years$6,574$5,011$3,771$2,805$2,068$982
26 years$6,254$4,710$3,497$2,565$1,862$853
27 years$5,958$4,433$3,247$2,348$1,679$741
28 years$5,683$4,177$3,019$2,151$1,515$644
29 years$5,428$3,940$2,809$1,973$1,368$560
30 years$5,191$3,721$2,617$1,810$1,236$487
31 years$4,969$3,518$2,439$1,663$1,118$423
32 years$4,761$3,328$2,276$1,528$1,011$368
33 years$4,567$3,152$2,125$1,405$915$321
34 years$4,384$2,988$1,986$1,293$828$279
35 years$4,212$2,834$1,856$1,190$750$243
36 years$4,050$2,690$1,737$1,096$680$212
37 years$3,897$2,554$1,625$1,010$616$184
38 years$3,753$2,428$1,522$931$559$161
39 years$3,616$2,308$1,426$858$507$140
40 years$3,486$2,196$1,337$792$459$122
41 years$3,363$2,091$1,253$730$417$106
42 years$3,247$1,991$1,176$674$378$93
43 years$3,135$1,897$1,103$622$343$81
44 years$3,030$1,808$1,036$575$312$70
45 years$2,929$1,724$972$531$283$61
46 years$2,833$1,645$913$490$257$53
47 years$2,741$1,570$858$453$233$47
48 years$2,654$1,499$806$418$212$41
49 years$2,570$1,431$758$387$192$35
50 years$2,490$1,367$713$357$175$31

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $2,550,000, adding $4,530 every year, while hoping to spend $20,269 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: 48/29/23 Blend
55$2,550,000$2,550,000$2,550,000$2,550,000
56$2,814,773$2,679,623$2,640,098$2,931,303
57$3,080,313$2,789,358$2,706,975$3,122,903
58$3,372,260$2,903,791$2,775,413$3,328,459
59$3,693,284$3,023,131$2,845,443$3,551,269
60$4,046,331$3,147,595$2,917,097$3,792,963
61$4,434,642$3,277,413$2,990,405$4,055,335
62$4,861,792$3,412,823$3,065,400$4,340,354
63$5,331,718$3,554,074$3,142,114$4,650,188
64$5,848,758$3,701,429$3,220,580$4,987,218
65$6,417,692$3,855,160$3,300,830$5,354,063
66$7,043,787$4,015,553$3,382,898$5,753,605
67$7,732,845$4,182,907$3,466,817$6,189,012
68$8,491,261$4,357,535$3,552,622$6,663,769
69$9,326,080$4,539,765$3,640,345$7,181,711
70$10,245,065$4,729,938$3,730,021$7,747,056
71$11,256,769$4,928,413$3,821,685$8,364,446
72$12,370,619$5,135,564$3,915,370$9,038,990
73$13,597,000$5,351,785$4,011,113$9,776,308
74$14,947,355$5,577,484$4,108,947$10,582,586
75$16,434,297$5,813,091$4,208,907$11,464,636
76$18,071,718$6,059,056$4,311,029$12,429,950
77$19,874,933$6,315,849$4,415,348$13,486,781
78$21,860,812$6,583,962$4,521,898$14,644,211
79$24,047,947$6,863,908$4,630,714$15,912,240
80$26,456,827$7,156,229$4,741,832$17,301,876
81$29,110,025$7,461,486$4,855,286$18,825,241
82$32,032,420$7,780,272$4,971,110$20,495,682
83$35,251,425$8,113,202$5,089,340$22,327,896
84$38,797,246$8,460,925$5,210,009$24,338,065
85$42,703,171$8,824,117$5,333,150$26,544,013
86$47,005,882$9,203,486$5,458,798$28,965,365
87$51,745,800$9,599,774$5,586,986$31,623,736
88$56,967,466$10,013,758$5,717,745$34,542,931
89$62,719,966$10,446,251$5,851,107$37,749,168
90$69,057,388$10,898,103$5,987,105$41,271,326
91$76,039,337$11,370,205$6,125,768$45,141,211
92$83,731,494$11,863,490$6,267,127$49,393,857
93$92,206,241$12,378,935$6,411,209$54,067,854
94$101,543,336$12,917,562$6,558,044$59,205,710
95$111,830,675$13,480,441$6,707,657$64,854,249
96$123,165,115$14,068,694$6,860,075$71,065,054
97$135,653,391$14,683,494$7,015,321$77,894,945
98$149,413,122$15,326,070$7,173,420$85,406,518
99$164,573,923$15,997,710$7,334,392$93,668,731
100$181,278,627$16,699,762$7,498,257$102,757,550