Can I retire at age 56 with 2,630,000?

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 $2,630,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.2%
1 years$217,183$215,248$213,361$211,519$209,720$206,928
2 years$107,516$105,514$103,573$101,692$99,867$97,058
3 years$70,966$68,955$67,019$65,155$63,359$60,622
4 years$52,694$50,689$48,773$46,940$45,189$42,543
5 years$41,734$39,741$37,849$36,055$34,352$31,805
6 years$34,429$32,451$30,588$28,833$27,181$24,738
7 years$29,214$27,253$25,419$23,705$22,106$19,766
8 years$25,304$23,360$21,557$19,886$18,339$16,102
9 years$22,265$20,339$18,567$16,938$15,444$13,310
10 years$19,835$17,928$16,187$14,601$13,159$11,125
11 years$17,848$15,960$14,251$12,707$11,317$9,383
12 years$16,193$14,325$12,647$11,146$9,807$7,969
13 years$14,794$12,946$11,300$9,840$8,552$6,808
14 years$13,596$11,767$10,153$8,735$7,497$5,845
15 years$12,559$10,750$9,167$7,790$6,601$5,037
16 years$11,652$9,863$8,311$6,975$5,834$4,356
17 years$10,853$9,083$7,563$6,267$5,173$3,778
18 years$10,143$8,393$6,904$5,648$4,599$3,285
19 years$9,509$7,779$6,320$5,103$4,099$2,861
20 years$8,939$7,228$5,800$4,622$3,662$2,497
21 years$8,423$6,733$5,335$4,195$3,277$2,183
22 years$7,956$6,285$4,917$3,814$2,937$1,910
23 years$7,529$5,878$4,540$3,474$2,637$1,674
24 years$7,139$5,508$4,199$3,168$2,370$1,468
25 years$6,781$5,169$3,889$2,893$2,132$1,289
26 years$6,450$4,858$3,607$2,645$1,921$1,132
27 years$6,145$4,572$3,349$2,421$1,732$996
28 years$5,862$4,308$3,113$2,219$1,563$876
29 years$5,599$4,064$2,897$2,035$1,411$771
30 years$5,354$3,838$2,699$1,867$1,275$679
31 years$5,125$3,628$2,516$1,715$1,153$598
32 years$4,911$3,433$2,347$1,576$1,043$527
33 years$4,710$3,251$2,192$1,449$944$464
34 years$4,521$3,081$2,048$1,333$854$409
35 years$4,344$2,922$1,915$1,227$774$361
36 years$4,177$2,774$1,791$1,130$701$318
37 years$4,019$2,635$1,676$1,042$635$281
38 years$3,870$2,504$1,570$960$576$248
39 years$3,729$2,381$1,471$885$522$219
40 years$3,596$2,265$1,379$816$474$193
41 years$3,469$2,156$1,293$753$430$170
42 years$3,348$2,054$1,213$695$390$150
43 years$3,234$1,957$1,138$642$354$133
44 years$3,125$1,865$1,068$593$321$117
45 years$3,021$1,778$1,003$547$292$104
46 years$2,922$1,697$942$506$265$91
47 years$2,827$1,619$885$467$241$81
48 years$2,737$1,546$832$432$218$71
49 years$2,650$1,476$782$399$198$63
50 years$2,568$1,410$735$369$180$56

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $2,630,000, adding $6,866 every year, while hoping to spend $34,469 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: 58/32/10 Blend
55$2,630,000$2,630,000$2,630,000$2,630,000
56$2,905,342$2,765,952$2,725,187$3,066,548
57$3,165,012$2,864,809$2,779,806$3,274,769
58$3,450,014$2,967,355$2,835,100$3,497,158
59$3,762,893$3,073,734$2,891,054$3,738,723
60$4,106,458$3,184,096$2,947,653$4,001,308
61$4,483,798$3,298,598$3,004,881$4,286,938
62$4,898,319$3,417,402$3,062,718$4,597,843
63$5,353,771$3,540,679$3,121,144$4,936,476
64$5,854,289$3,668,606$3,180,135$5,305,535
65$6,404,424$3,801,365$3,239,667$5,707,988
66$7,009,192$3,939,149$3,299,712$6,147,105
67$7,674,119$4,082,157$3,360,243$6,626,480
68$8,405,294$4,230,597$3,421,225$7,150,071
69$9,209,423$4,384,685$3,482,625$7,722,236
70$10,093,898$4,544,648$3,544,407$8,347,769
71$11,066,860$4,710,720$3,606,529$9,031,950
72$12,137,280$4,883,147$3,668,948$9,780,591
73$13,315,044$5,062,182$3,731,620$10,600,090
74$14,611,043$5,248,093$3,794,493$11,497,493
75$16,037,276$5,441,156$3,857,515$12,480,558
76$17,606,966$5,641,660$3,920,629$13,557,827
77$19,334,681$5,849,907$3,983,775$14,738,707
78$21,236,476$6,066,209$4,046,889$16,033,557
79$23,330,037$6,290,895$4,109,901$17,453,786
80$25,634,857$6,524,304$4,172,738$19,011,958
81$28,172,410$6,766,793$4,235,323$20,721,912
82$30,966,362$7,018,732$4,297,572$22,598,888
83$34,042,788$7,280,507$4,359,399$24,659,676
84$37,430,423$7,552,522$4,420,709$26,922,765
85$41,160,927$7,835,197$4,481,403$29,408,524
86$45,269,190$8,128,970$4,541,379$32,139,389
87$49,793,656$8,434,298$4,600,523$35,140,073
88$54,776,688$8,751,657$4,658,720$38,437,803
89$60,264,967$9,081,546$4,715,844$42,062,569
90$66,309,935$9,424,483$4,771,766$46,047,410
91$72,968,274$9,781,009$4,826,346$50,428,725
92$80,302,448$10,151,688$4,879,439$55,246,612
93$88,381,287$10,537,110$4,930,889$60,545,246
94$97,280,639$10,937,889$4,980,535$66,373,296
95$107,084,086$11,354,667$5,028,204$72,784,383
96$117,883,730$11,788,113$5,073,716$79,837,580
97$129,781,066$12,238,926$5,116,881$87,597,973
98$142,887,935$12,707,834$5,157,497$96,137,273
99$157,327,585$13,195,598$5,195,354$105,534,487
100$173,235,829$13,703,013$5,230,228$115,876,666