Can I retire at age 56 with 2,710,000?

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 $2,710,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.7%
1 years$223,789$221,796$219,851$217,953$216,099$208,515
2 years$110,787$108,723$106,724$104,785$102,904$95,343
3 years$73,124$71,052$69,057$67,137$65,287$57,986
4 years$54,297$52,231$50,256$48,368$46,563$39,578
5 years$43,003$40,950$39,001$37,151$35,397$28,746
6 years$35,476$33,438$31,518$29,710$28,008$21,698
7 years$30,102$28,081$26,192$24,426$22,778$16,806
8 years$26,074$24,071$22,213$20,491$18,897$13,258
9 years$22,942$20,958$19,132$17,454$15,914$10,602
10 years$20,438$18,474$16,680$15,045$13,559$8,565
11 years$18,391$16,446$14,684$13,094$11,661$6,974
12 years$16,686$14,761$13,032$11,485$10,106$5,714
13 years$15,244$13,340$11,643$10,140$8,812$4,705
14 years$14,010$12,125$10,462$9,001$7,725$3,890
15 years$12,941$11,077$9,445$8,027$6,801$3,227
16 years$12,006$10,163$8,564$7,187$6,011$2,683
17 years$11,183$9,359$7,793$6,458$5,330$2,236
18 years$10,451$8,649$7,114$5,820$4,739$1,867
19 years$9,798$8,015$6,512$5,259$4,224$1,561
20 years$9,210$7,448$5,977$4,763$3,773$1,307
21 years$8,680$6,938$5,497$4,322$3,376$1,095
22 years$8,198$6,476$5,067$3,930$3,026$919
23 years$7,758$6,057$4,678$3,579$2,717$771
24 years$7,356$5,675$4,326$3,264$2,442$648
25 years$6,987$5,326$4,007$2,981$2,197$544
26 years$6,646$5,005$3,716$2,726$1,979$457
27 years$6,332$4,711$3,451$2,495$1,784$385
28 years$6,040$4,439$3,208$2,286$1,610$324
29 years$5,769$4,187$2,985$2,096$1,454$272
30 years$5,516$3,955$2,781$1,924$1,314$229
31 years$5,281$3,738$2,593$1,767$1,188$193
32 years$5,060$3,537$2,419$1,624$1,074$162
33 years$4,853$3,350$2,259$1,493$972$137
34 years$4,659$3,175$2,110$1,374$880$115
35 years$4,476$3,011$1,973$1,265$797$97
36 years$4,304$2,858$1,846$1,165$722$82
37 years$4,142$2,715$1,727$1,073$655$69
38 years$3,988$2,580$1,618$989$594$58
39 years$3,843$2,453$1,516$912$538$49
40 years$3,705$2,334$1,421$841$488$41
41 years$3,574$2,222$1,332$776$443$35
42 years$3,450$2,116$1,250$716$402$29
43 years$3,332$2,016$1,172$661$365$25
44 years$3,220$1,922$1,101$611$331$21
45 years$3,113$1,833$1,033$564$301$17
46 years$3,011$1,748$971$521$273$15
47 years$2,913$1,668$912$481$248$12
48 years$2,820$1,593$857$445$225$10
49 years$2,731$1,521$805$411$204$9
50 years$2,646$1,453$757$380$186$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $2,710,000, adding $6,075 every year, while hoping to spend $24,414 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: 54/17/29 Blend
55$2,710,000$2,710,000$2,710,000$2,710,000
56$2,992,686$2,849,056$2,807,051$3,129,817
57$3,271,964$2,962,684$2,875,111$3,339,029
58$3,578,910$3,081,061$2,944,633$3,563,693
59$3,916,320$3,204,394$3,015,640$3,807,817
60$4,287,275$3,332,900$3,088,154$4,073,279
61$4,695,170$3,466,805$3,162,200$4,362,147
62$5,143,744$3,606,345$3,237,800$4,676,694
63$5,637,117$3,751,767$3,314,978$5,019,425
64$6,179,828$3,903,329$3,393,755$5,393,092
65$6,776,879$4,061,300$3,474,154$5,800,728
66$7,433,781$4,225,964$3,556,198$6,245,668
67$8,156,605$4,397,615$3,639,909$6,731,585
68$8,952,041$4,576,560$3,725,309$7,262,521
69$9,827,461$4,763,123$3,812,418$7,842,928
70$10,790,986$4,957,641$3,901,258$8,477,705
71$11,851,567$5,160,465$3,991,850$9,172,246
72$13,019,063$5,371,964$4,084,214$9,932,491
73$14,304,341$5,592,524$4,178,369$10,764,982
74$15,719,374$5,822,548$4,274,334$11,676,920
75$17,277,353$6,062,456$4,372,127$12,676,237
76$18,992,817$6,312,690$4,471,767$13,771,667
77$20,881,782$6,573,710$4,573,270$14,972,830
78$22,961,901$6,845,998$4,676,651$16,290,321
79$25,252,622$7,130,060$4,781,926$17,735,807
80$27,775,378$7,426,421$4,889,109$19,322,142
81$30,553,786$7,735,634$4,998,213$21,063,480
82$33,613,868$8,058,277$5,109,249$22,975,416
83$36,984,302$8,394,952$5,222,229$25,075,125
84$40,696,688$8,746,291$5,337,160$27,381,526
85$44,785,846$9,112,956$5,454,051$29,915,462
86$49,290,149$9,495,637$5,572,909$32,699,892
87$54,251,879$9,895,059$5,693,736$35,760,108
88$59,717,631$10,311,977$5,816,537$39,123,974
89$65,738,750$10,747,184$5,941,311$42,822,185
90$72,371,815$11,201,508$6,068,057$46,888,558
91$79,679,175$11,675,818$6,196,773$51,360,351
92$87,729,538$12,171,020$6,327,452$56,278,608
93$96,598,615$12,688,064$6,460,085$61,688,552
94$106,369,839$13,227,944$6,594,663$67,640,007
95$117,135,150$13,791,701$6,731,172$74,187,865
96$128,995,863$14,380,422$6,869,594$81,392,607
97$142,063,627$14,995,248$7,009,911$89,320,869
98$156,461,473$15,637,372$7,152,099$98,046,072
99$172,324,981$16,308,041$7,296,133$107,649,111
100$189,803,557$17,008,563$7,441,981$118,219,119