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%16.5%
1 years$223,789$221,796$219,851$217,953$216,099$210,363
2 years$110,787$108,723$106,724$104,785$102,904$97,165
3 years$73,124$71,052$69,057$67,137$65,287$59,725
4 years$54,297$52,231$50,256$48,368$46,563$41,220
5 years$43,003$40,950$39,001$37,151$35,397$30,288
6 years$35,476$33,438$31,518$29,710$28,008$23,139
7 years$30,102$28,081$26,192$24,426$22,778$18,148
8 years$26,074$24,071$22,213$20,491$18,897$14,504
9 years$22,942$20,958$19,132$17,454$15,914$11,754
10 years$20,438$18,474$16,680$15,045$13,559$9,627
11 years$18,391$16,446$14,684$13,094$11,661$7,952
12 years$16,686$14,761$13,032$11,485$10,106$6,611
13 years$15,244$13,340$11,643$10,140$8,812$5,525
14 years$14,010$12,125$10,462$9,001$7,725$4,638
15 years$12,941$11,077$9,445$8,027$6,801$3,907
16 years$12,006$10,163$8,564$7,187$6,011$3,301
17 years$11,183$9,359$7,793$6,458$5,330$2,796
18 years$10,451$8,649$7,114$5,820$4,739$2,373
19 years$9,798$8,015$6,512$5,259$4,224$2,017
20 years$9,210$7,448$5,977$4,763$3,773$1,718
21 years$8,680$6,938$5,497$4,322$3,376$1,464
22 years$8,198$6,476$5,067$3,930$3,026$1,249
23 years$7,758$6,057$4,678$3,579$2,717$1,067
24 years$7,356$5,675$4,326$3,264$2,442$912
25 years$6,987$5,326$4,007$2,981$2,197$780
26 years$6,646$5,005$3,716$2,726$1,979$667
27 years$6,332$4,711$3,451$2,495$1,784$571
28 years$6,040$4,439$3,208$2,286$1,610$489
29 years$5,769$4,187$2,985$2,096$1,454$419
30 years$5,516$3,955$2,781$1,924$1,314$359
31 years$5,281$3,738$2,593$1,767$1,188$308
32 years$5,060$3,537$2,419$1,624$1,074$264
33 years$4,853$3,350$2,259$1,493$972$226
34 years$4,659$3,175$2,110$1,374$880$194
35 years$4,476$3,011$1,973$1,265$797$166
36 years$4,304$2,858$1,846$1,165$722$143
37 years$4,142$2,715$1,727$1,073$655$122
38 years$3,988$2,580$1,618$989$594$105
39 years$3,843$2,453$1,516$912$538$90
40 years$3,705$2,334$1,421$841$488$77
41 years$3,574$2,222$1,332$776$443$66
42 years$3,450$2,116$1,250$716$402$57
43 years$3,332$2,016$1,172$661$365$49
44 years$3,220$1,922$1,101$611$331$42
45 years$3,113$1,833$1,033$564$301$36
46 years$3,011$1,748$971$521$273$31
47 years$2,913$1,668$912$481$248$27
48 years$2,820$1,593$857$445$225$23
49 years$2,731$1,521$805$411$204$20
50 years$2,646$1,453$757$380$186$17

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 $2,148 every year, while hoping to spend $36,665 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: 61/26/13 Blend
55$2,710,000$2,710,000$2,710,000$2,710,000
56$2,988,636$2,845,006$2,803,001$3,161,389
57$3,254,465$2,945,400$2,857,890$3,378,111
58$3,546,181$3,049,484$2,913,389$3,610,150
59$3,866,383$3,157,401$2,969,480$3,862,466
60$4,217,939$3,269,299$3,026,142$4,137,025
61$4,604,005$3,385,330$3,083,354$4,435,986
62$5,028,059$3,505,657$3,141,092$4,761,729
63$5,493,931$3,630,444$3,199,328$5,116,870
64$6,005,841$3,759,865$3,258,035$5,504,290
65$6,568,440$3,894,102$3,317,183$5,927,160
66$7,186,849$4,033,341$3,376,736$6,388,969
67$7,866,711$4,177,778$3,436,661$6,893,560
68$8,614,244$4,327,617$3,496,917$7,445,162
69$9,436,296$4,483,070$3,557,463$8,048,431
70$10,340,415$4,644,357$3,618,254$8,708,497
71$11,334,914$4,811,707$3,679,243$9,431,002
72$12,428,956$4,985,361$3,740,378$10,222,166
73$13,632,633$5,165,568$3,801,604$11,088,832
74$14,957,067$5,352,586$3,862,863$12,038,541
75$16,414,511$5,546,686$3,924,093$13,079,595
76$18,018,467$5,748,149$3,985,225$14,221,137
77$19,783,811$5,957,269$4,046,191$15,473,238
78$21,726,935$6,174,350$4,106,914$16,846,992
79$23,865,901$6,399,712$4,167,314$18,354,614
80$26,220,610$6,633,685$4,227,306$20,009,564
81$28,812,992$6,876,615$4,286,800$21,826,664
82$31,667,210$7,128,862$4,345,701$23,822,243
83$34,809,889$7,390,801$4,403,906$26,014,288
84$38,270,370$7,662,822$4,461,309$28,422,614
85$42,080,981$7,945,333$4,517,796$31,069,049
86$46,277,346$8,238,759$4,573,247$33,977,641
87$50,898,719$8,543,542$4,627,534$37,174,880
88$55,988,356$8,860,144$4,680,525$40,689,953
89$61,593,922$9,189,045$4,732,076$44,555,012
90$67,767,941$9,530,747$4,782,040$48,805,483
91$74,568,290$9,885,773$4,830,257$53,480,393
92$82,058,747$10,254,667$4,876,562$58,622,741
93$90,309,593$10,637,999$4,920,780$64,279,904
94$99,398,271$11,036,361$4,962,727$70,504,078
95$109,410,124$11,450,372$5,002,207$77,352,774
96$120,439,192$11,880,675$5,039,016$84,889,357
97$132,589,106$12,327,945$5,072,939$93,183,645
98$145,974,062$12,792,881$5,103,750$102,312,564
99$160,719,901$13,276,217$5,131,211$112,360,874
100$176,965,295$13,778,716$5,155,070$123,421,969