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%15%
1 years$223,789$221,796$219,851$217,953$216,099$211,649
2 years$110,787$108,723$106,724$104,785$102,904$98,442
3 years$73,124$71,052$69,057$67,137$65,287$60,950
4 years$54,297$52,231$50,256$48,368$46,563$42,386
5 years$43,003$40,950$39,001$37,151$35,397$31,391
6 years$35,476$33,438$31,518$29,710$28,008$24,178
7 years$30,102$28,081$26,192$24,426$22,778$19,125
8 years$26,074$24,071$22,213$20,491$18,897$15,419
9 years$22,942$20,958$19,132$17,454$15,914$12,609
10 years$20,438$18,474$16,680$15,045$13,559$10,424
11 years$18,391$16,446$14,684$13,094$11,661$8,692
12 years$16,686$14,761$13,032$11,485$10,106$7,298
13 years$15,244$13,340$11,643$10,140$8,812$6,161
14 years$14,010$12,125$10,462$9,001$7,725$5,225
15 years$12,941$11,077$9,445$8,027$6,801$4,448
16 years$12,006$10,163$8,564$7,187$6,011$3,799
17 years$11,183$9,359$7,793$6,458$5,330$3,252
18 years$10,451$8,649$7,114$5,820$4,739$2,791
19 years$9,798$8,015$6,512$5,259$4,224$2,399
20 years$9,210$7,448$5,977$4,763$3,773$2,066
21 years$8,680$6,938$5,497$4,322$3,376$1,781
22 years$8,198$6,476$5,067$3,930$3,026$1,538
23 years$7,758$6,057$4,678$3,579$2,717$1,329
24 years$7,356$5,675$4,326$3,264$2,442$1,149
25 years$6,987$5,326$4,007$2,981$2,197$995
26 years$6,646$5,005$3,716$2,726$1,979$861
27 years$6,332$4,711$3,451$2,495$1,784$746
28 years$6,040$4,439$3,208$2,286$1,610$647
29 years$5,769$4,187$2,985$2,096$1,454$561
30 years$5,516$3,955$2,781$1,924$1,314$487
31 years$5,281$3,738$2,593$1,767$1,188$422
32 years$5,060$3,537$2,419$1,624$1,074$367
33 years$4,853$3,350$2,259$1,493$972$318
34 years$4,659$3,175$2,110$1,374$880$277
35 years$4,476$3,011$1,973$1,265$797$240
36 years$4,304$2,858$1,846$1,165$722$209
37 years$4,142$2,715$1,727$1,073$655$181
38 years$3,988$2,580$1,618$989$594$158
39 years$3,843$2,453$1,516$912$538$137
40 years$3,705$2,334$1,421$841$488$119
41 years$3,574$2,222$1,332$776$443$103
42 years$3,450$2,116$1,250$716$402$90
43 years$3,332$2,016$1,172$661$365$78
44 years$3,220$1,922$1,101$611$331$68
45 years$3,113$1,833$1,033$564$301$59
46 years$3,011$1,748$971$521$273$51
47 years$2,913$1,668$912$481$248$45
48 years$2,820$1,593$857$445$225$39
49 years$2,731$1,521$805$411$204$34
50 years$2,646$1,453$757$380$186$29

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 $4,426 every year, while hoping to spend $40,426 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: 53/29/18 Blend
55$2,710,000$2,710,000$2,710,000$2,710,000
56$2,990,985$2,847,355$2,805,350$3,134,649
57$3,253,053$2,943,863$2,856,317$3,330,087
58$3,540,497$3,043,744$2,907,635$3,538,004
59$3,855,862$3,147,122$2,959,276$3,763,355
60$4,201,953$3,254,124$3,011,204$4,007,811
61$4,581,858$3,364,882$3,063,386$4,273,210
62$4,998,979$3,479,534$3,115,781$4,561,573
63$5,457,065$3,598,221$3,168,350$4,875,126
64$5,960,243$3,721,091$3,221,047$5,216,315
65$6,513,063$3,848,299$3,273,827$5,587,836
66$7,120,533$3,980,004$3,326,638$5,992,655
67$7,788,174$4,116,371$3,379,427$6,434,035
68$8,522,067$4,257,572$3,432,137$6,915,570
69$9,328,912$4,403,787$3,484,707$7,441,217
70$10,216,088$4,555,200$3,537,073$8,015,330
71$11,191,729$4,712,005$3,589,165$8,642,706
72$12,264,794$4,874,401$3,640,910$9,328,625
73$13,445,154$5,042,598$3,692,231$10,078,900
74$14,743,685$5,216,810$3,743,046$10,899,936
75$16,172,370$5,397,264$3,793,268$11,798,783
76$17,744,414$5,584,192$3,842,805$12,783,208
77$19,474,364$5,777,837$3,891,558$13,861,762
78$21,378,249$5,978,451$3,939,426$15,043,866
79$23,473,732$6,186,297$3,986,298$16,339,895
80$25,780,274$6,401,646$4,032,060$17,761,277
81$28,319,317$6,624,782$4,076,589$19,320,601
82$31,114,491$6,856,000$4,119,759$21,031,732
83$34,191,831$7,095,606$4,161,432$22,909,944
84$37,580,025$7,343,918$4,201,467$24,972,065
85$41,310,684$7,601,266$4,239,713$27,236,629
86$45,418,642$7,867,996$4,276,011$29,724,057
87$49,942,281$8,144,465$4,310,195$32,456,845
88$54,923,895$8,431,046$4,342,088$35,459,776
89$60,410,090$8,728,125$4,371,507$38,760,154
90$66,452,222$9,036,106$4,398,255$42,388,060
91$73,106,881$9,355,408$4,422,129$46,376,636
92$80,436,427$9,686,466$4,442,913$50,762,397
93$88,509,573$10,029,734$4,460,382$55,585,572
94$97,402,043$10,385,684$4,474,298$60,890,488
95$107,197,276$10,754,808$4,484,412$66,725,982
96$117,987,221$11,137,615$4,490,462$73,145,863
97$129,873,197$11,534,639$4,492,173$80,209,421
98$142,966,859$11,946,432$4,489,256$87,981,982
99$157,391,242$12,373,570$4,481,409$96,535,526
100$173,281,928$12,816,654$4,468,316$105,949,365