Can I retire at age 56 with 2,560,000?

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 $2,560,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.3%
1 years$211,402$209,519$207,682$205,889$204,138$197,288
2 years$104,655$102,706$100,817$98,985$97,209$90,375
3 years$69,077$67,119$65,235$63,421$61,673$55,070
4 years$51,291$49,340$47,474$45,691$43,986$37,664
5 years$40,623$38,683$36,842$35,095$33,437$27,414
6 years$33,513$31,588$29,774$28,066$26,458$20,737
7 years$28,436$26,527$24,742$23,074$21,517$16,099
8 years$24,630$22,739$20,983$19,357$17,851$12,731
9 years$21,672$19,798$18,073$16,488$15,033$10,205
10 years$19,307$17,451$15,756$14,212$12,809$8,265
11 years$17,373$15,536$13,872$12,369$11,016$6,747
12 years$15,762$13,944$12,311$10,849$9,546$5,543
13 years$14,400$12,601$10,999$9,578$8,324$4,577
14 years$13,234$11,454$9,883$8,503$7,297$3,795
15 years$12,224$10,464$8,923$7,583$6,425$3,156
16 years$11,342$9,600$8,090$6,790$5,678$2,632
17 years$10,564$8,841$7,361$6,100$5,035$2,200
18 years$9,873$8,170$6,720$5,498$4,477$1,843
19 years$9,256$7,572$6,152$4,968$3,990$1,545
20 years$8,701$7,036$5,646$4,499$3,564$1,298
21 years$8,199$6,554$5,193$4,083$3,190$1,091
22 years$7,744$6,118$4,786$3,713$2,859$918
23 years$7,329$5,722$4,419$3,381$2,566$773
24 years$6,949$5,361$4,087$3,084$2,307$651
25 years$6,600$5,031$3,785$2,816$2,076$549
26 years$6,278$4,728$3,511$2,575$1,870$463
27 years$5,981$4,450$3,260$2,357$1,686$391
28 years$5,706$4,193$3,031$2,160$1,521$330
29 years$5,450$3,956$2,820$1,980$1,373$278
30 years$5,211$3,736$2,627$1,817$1,241$235
31 years$4,988$3,532$2,449$1,669$1,122$198
32 years$4,780$3,342$2,285$1,534$1,015$168
33 years$4,585$3,164$2,134$1,411$918$141
34 years$4,401$2,999$1,993$1,298$832$120
35 years$4,229$2,845$1,864$1,195$753$101
36 years$4,066$2,700$1,743$1,100$682$85
37 years$3,912$2,564$1,632$1,014$619$72
38 years$3,767$2,437$1,528$935$561$61
39 years$3,630$2,317$1,432$862$509$51
40 years$3,500$2,205$1,342$795$461$44
41 years$3,376$2,099$1,258$733$418$37
42 years$3,259$1,999$1,180$677$380$31
43 years$3,148$1,905$1,108$625$345$26
44 years$3,042$1,815$1,040$577$313$22
45 years$2,941$1,731$976$533$284$19
46 years$2,844$1,651$917$492$258$16
47 years$2,752$1,576$861$455$234$13
48 years$2,664$1,504$809$420$213$11
49 years$2,580$1,437$761$388$193$10
50 years$2,499$1,372$715$359$175$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $2,560,000, adding $5,163 every year, while hoping to spend $27,026 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: 69/7/24 Blend
55$2,560,000$2,560,000$2,560,000$2,560,000
56$2,826,446$2,690,766$2,651,086$3,003,895
57$3,085,988$2,793,858$2,711,142$3,226,501
58$3,371,097$2,901,095$2,772,304$3,466,412
59$3,684,353$3,012,654$2,834,580$3,728,321
60$4,028,598$3,128,714$2,897,979$4,014,405
61$4,406,962$3,249,468$2,962,508$4,327,059
62$4,822,893$3,375,113$3,028,173$4,668,922
63$5,280,191$3,505,857$3,094,980$5,042,901
64$5,783,043$3,641,916$3,162,935$5,452,195
65$6,336,060$3,783,517$3,232,040$5,900,329
66$6,944,325$3,930,895$3,302,299$6,391,185
67$7,613,434$4,084,298$3,373,715$6,929,039
68$8,349,558$4,243,982$3,446,288$7,518,600
69$9,159,492$4,410,216$3,520,018$8,165,057
70$10,050,726$4,583,282$3,594,903$8,874,123
71$11,031,509$4,763,472$3,670,942$9,652,095
72$12,110,935$4,951,094$3,748,130$10,505,905
73$13,299,019$5,146,466$3,826,461$11,443,194
74$14,606,800$5,349,924$3,905,929$12,472,378
75$16,046,440$5,561,817$3,986,524$13,602,727
76$17,631,340$5,782,509$4,068,236$14,844,456
77$19,376,268$6,012,383$4,151,052$16,208,819
78$21,297,493$6,251,836$4,234,959$17,708,214
79$23,412,947$6,501,285$4,319,939$19,356,300
80$25,742,384$6,761,165$4,405,974$21,168,127
81$28,307,576$7,031,930$4,493,043$23,160,278
82$31,132,510$7,314,057$4,581,121$25,351,021
83$34,243,621$7,608,040$4,670,184$27,760,487
84$37,670,037$7,914,401$4,760,201$30,410,855
85$41,443,854$8,233,680$4,851,141$33,326,563
86$45,600,442$8,566,445$4,942,969$36,534,538
87$50,178,775$8,913,289$5,035,647$40,064,450
88$55,221,802$9,274,832$5,129,133$43,948,991
89$60,776,848$9,651,721$5,223,381$48,224,183
90$66,896,066$10,044,634$5,318,344$52,929,720
91$73,636,922$10,454,279$5,413,966$58,109,337
92$81,062,747$10,881,397$5,510,192$63,811,229
93$89,243,323$11,326,762$5,606,960$70,088,501
94$98,255,552$11,791,183$5,704,203$76,999,668
95$108,184,174$12,275,507$5,801,849$84,609,212
96$119,122,572$12,780,619$5,899,824$92,988,184
97$131,173,651$13,307,446$5,998,045$102,214,879
98$144,450,808$13,856,955$6,096,424$112,375,573
99$159,079,004$14,430,160$6,194,868$123,565,334
100$175,195,945$15,028,120$6,293,278$135,888,923