Can I retire at age 56 with 2,590,000?

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 $2,590,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.9%
1 years$213,880$211,975$210,116$208,302$206,530$199,123
2 years$105,881$103,909$101,998$100,145$98,348$90,965
3 years$69,886$67,906$65,999$64,164$62,396$55,270
4 years$51,892$49,918$48,031$46,226$44,501$37,687
5 years$41,099$39,136$37,274$35,506$33,829$27,344
6 years$33,905$31,958$30,123$28,395$26,768$20,616
7 years$28,769$26,838$25,032$23,345$21,769$15,950
8 years$24,919$23,005$21,229$19,583$18,060$12,568
9 years$21,926$20,030$18,285$16,681$15,209$10,037
10 years$19,533$17,656$15,941$14,379$12,959$8,099
11 years$17,576$15,718$14,034$12,514$11,145$6,586
12 years$15,947$14,107$12,455$10,976$9,658$5,389
13 years$14,569$12,749$11,128$9,691$8,422$4,432
14 years$13,389$11,588$9,998$8,602$7,383$3,659
15 years$12,368$10,586$9,027$7,672$6,500$3,030
16 years$11,475$9,713$8,184$6,869$5,745$2,516
17 years$10,688$8,945$7,448$6,172$5,094$2,094
18 years$9,989$8,266$6,799$5,562$4,529$1,746
19 years$9,364$7,660$6,224$5,026$4,037$1,458
20 years$8,803$7,118$5,712$4,552$3,606$1,218
21 years$8,295$6,631$5,254$4,131$3,227$1,019
22 years$7,835$6,189$4,842$3,756$2,892$854
23 years$7,415$5,789$4,471$3,421$2,596$715
24 years$7,030$5,424$4,135$3,120$2,334$600
25 years$6,677$5,090$3,830$2,849$2,100$503
26 years$6,352$4,784$3,552$2,605$1,892$422
27 years$6,051$4,502$3,298$2,385$1,705$355
28 years$5,773$4,242$3,066$2,185$1,539$298
29 years$5,513$4,002$2,853$2,004$1,390$250
30 years$5,272$3,780$2,658$1,839$1,256$210
31 years$5,047$3,573$2,478$1,689$1,135$177
32 years$4,836$3,381$2,312$1,552$1,027$148
33 years$4,638$3,202$2,159$1,427$929$125
34 years$4,453$3,034$2,017$1,313$841$105
35 years$4,278$2,878$1,886$1,209$762$88
36 years$4,114$2,732$1,764$1,113$690$74
37 years$3,958$2,594$1,651$1,026$626$62
38 years$3,811$2,466$1,546$945$567$52
39 years$3,673$2,345$1,448$872$514$44
40 years$3,541$2,231$1,358$804$467$37
41 years$3,416$2,123$1,273$742$423$31
42 years$3,297$2,022$1,194$685$384$26
43 years$3,185$1,927$1,121$632$349$22
44 years$3,077$1,837$1,052$584$316$19
45 years$2,975$1,751$988$539$287$16
46 years$2,877$1,671$928$498$261$13
47 years$2,784$1,594$871$460$237$11
48 years$2,695$1,522$819$425$215$9
49 years$2,610$1,454$770$393$195$8
50 years$2,529$1,388$724$363$177$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $2,590,000, adding $6,057 every year, while hoping to spend $47,183 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: 63/17/20 Blend
55$2,590,000$2,590,000$2,590,000$2,590,000
56$2,860,428$2,723,158$2,683,013$3,025,585
57$3,101,989$2,806,390$2,722,691$3,220,811
58$3,366,608$2,892,120$2,762,118$3,428,089
59$3,656,587$2,980,419$2,801,234$3,653,371
60$3,974,462$3,071,362$2,839,978$3,898,418
61$4,323,024$3,165,025$2,878,284$4,165,169
62$4,705,349$3,261,488$2,916,083$4,455,759
63$5,124,825$3,360,831$2,953,302$4,772,540
64$5,585,182$3,463,137$2,989,863$5,118,100
65$6,090,531$3,568,491$3,025,684$5,495,292
66$6,645,399$3,676,981$3,060,678$5,907,255
67$7,254,773$3,788,697$3,094,754$6,357,451
68$7,924,147$3,903,730$3,127,815$6,849,688
69$8,659,572$4,022,175$3,159,759$7,388,167
70$9,467,717$4,144,130$3,190,479$7,977,509
71$10,355,925$4,269,693$3,219,862$8,622,810
72$11,332,290$4,398,969$3,247,788$9,329,680
73$12,405,726$4,532,060$3,274,131$10,104,302
74$13,586,055$4,669,076$3,298,759$10,953,488
75$14,884,098$4,810,126$3,321,533$11,884,741
76$16,311,778$4,955,324$3,342,306$12,906,328
77$17,882,230$5,104,787$3,360,925$14,027,359
78$19,609,928$5,258,632$3,377,226$15,257,868
79$21,510,819$5,416,982$3,391,041$16,608,915
80$23,602,471$5,579,964$3,402,190$18,092,683
81$25,904,245$5,747,703$3,410,485$19,722,596
82$28,437,471$5,920,334$3,415,729$21,513,446
83$31,225,652$6,097,989$3,417,715$23,481,533
84$34,294,686$6,280,808$3,416,226$25,644,815
85$37,673,108$6,468,932$3,411,033$28,023,083
86$41,392,360$6,662,504$3,401,898$30,638,141
87$45,487,089$6,861,675$3,388,570$33,514,019
88$49,995,470$7,066,596$3,370,785$36,677,193
89$54,959,571$7,277,421$3,348,269$40,156,840
90$60,425,743$7,494,311$3,320,732$43,985,109
91$66,445,064$7,717,427$3,287,872$48,197,428
92$73,073,817$7,946,938$3,249,372$52,832,836
93$80,374,020$8,183,011$3,204,900$57,934,353
94$88,414,014$8,425,823$3,154,108$63,549,384
95$97,269,105$8,675,550$3,096,632$69,730,169
96$107,022,277$8,932,375$3,032,093$76,534,273
97$117,764,972$9,196,484$2,960,091$84,025,132
98$129,597,954$9,468,067$2,880,208$92,272,652
99$142,632,260$9,747,317$2,792,010$101,353,864
100$156,990,248$10,034,433$2,695,040$111,353,660