Can I retire at age 56 with 2,720,000?

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 $2,720,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.8%
1 years$224,615$222,614$220,662$218,757$216,897$210,884
2 years$111,196$109,125$107,118$105,172$103,284$97,271
3 years$73,394$71,314$69,312$67,384$65,528$59,703
4 years$54,497$52,423$50,442$48,547$46,735$41,143
5 years$43,162$41,101$39,145$37,289$35,527$30,183
6 years$35,607$33,562$31,635$29,820$28,111$23,021
7 years$30,213$28,185$26,289$24,517$22,862$18,025
8 years$26,170$24,160$22,295$20,566$18,966$14,380
9 years$23,027$21,035$19,203$17,518$15,972$11,633
10 years$20,513$18,542$16,741$15,101$13,609$9,510
11 years$18,458$16,507$14,739$13,142$11,704$7,840
12 years$16,747$14,815$13,080$11,527$10,143$6,505
13 years$15,300$13,389$11,686$10,177$8,845$5,426
14 years$14,061$12,170$10,500$9,034$7,753$4,545
15 years$12,988$11,118$9,480$8,057$6,827$3,821
16 years$12,051$10,200$8,595$7,214$6,033$3,222
17 years$11,224$9,394$7,821$6,482$5,350$2,723
18 years$10,490$8,680$7,140$5,841$4,757$2,305
19 years$9,834$8,045$6,536$5,278$4,240$1,956
20 years$9,244$7,476$5,999$4,780$3,787$1,661
21 years$8,712$6,963$5,518$4,338$3,389$1,413
22 years$8,228$6,500$5,085$3,945$3,038$1,203
23 years$7,787$6,079$4,695$3,592$2,727$1,025
24 years$7,383$5,696$4,342$3,277$2,451$874
25 years$7,013$5,345$4,022$2,992$2,205$745
26 years$6,671$5,024$3,730$2,736$1,987$636
27 years$6,355$4,728$3,464$2,504$1,791$543
28 years$6,062$4,455$3,220$2,295$1,616$464
29 years$5,790$4,203$2,997$2,104$1,459$397
30 years$5,537$3,969$2,791$1,931$1,319$339
31 years$5,300$3,752$2,602$1,774$1,192$290
32 years$5,079$3,550$2,428$1,630$1,078$248
33 years$4,871$3,362$2,267$1,499$976$212
34 years$4,676$3,187$2,118$1,379$884$181
35 years$4,493$3,023$1,980$1,270$800$155
36 years$4,320$2,869$1,852$1,169$725$133
37 years$4,157$2,725$1,734$1,077$657$114
38 years$4,003$2,589$1,624$993$596$97
39 years$3,857$2,462$1,521$916$540$83
40 years$3,719$2,343$1,426$844$490$71
41 years$3,588$2,230$1,337$779$445$61
42 years$3,463$2,124$1,254$719$403$52
43 years$3,345$2,024$1,177$664$366$45
44 years$3,232$1,929$1,105$613$332$38
45 years$3,124$1,839$1,037$566$302$33
46 years$3,022$1,755$974$523$274$28
47 years$2,924$1,674$915$483$249$24
48 years$2,831$1,599$860$446$226$21
49 years$2,741$1,526$808$412$205$18
50 years$2,656$1,458$760$381$186$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $2,720,000, adding $6,339 every year, while hoping to spend $46,127 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: 39/39/22 Blend
55$2,720,000$2,720,000$2,720,000$2,720,000
56$3,003,979$2,859,819$2,817,659$3,101,248
57$3,261,306$2,950,871$2,862,971$3,263,081
58$3,543,334$3,044,839$2,908,256$3,433,133
59$3,852,535$3,141,817$2,953,463$3,616,080
60$4,191,629$3,241,901$2,998,540$3,813,120
61$4,563,614$3,345,193$3,043,430$4,025,568
62$4,971,792$3,451,797$3,088,074$4,254,874
63$5,419,798$3,561,818$3,132,408$4,502,629
64$5,911,638$3,675,368$3,176,365$4,770,584
65$6,451,726$3,792,562$3,219,873$5,060,668
66$7,044,921$3,913,517$3,262,858$5,375,000
67$7,696,578$4,038,354$3,305,239$5,715,913
68$8,412,597$4,167,201$3,346,932$6,085,975
69$9,199,474$4,300,186$3,387,847$6,488,012
70$10,064,370$4,437,445$3,427,890$6,925,134
71$11,015,172$4,579,116$3,466,960$7,400,766
72$12,060,569$4,725,342$3,504,952$7,918,675
73$13,210,135$4,876,272$3,541,756$8,483,014
74$14,474,417$5,032,057$3,577,253$9,098,350
75$15,865,036$5,192,857$3,611,320$9,769,714
76$17,394,798$5,358,835$3,643,827$10,502,648
77$19,077,807$5,530,158$3,674,636$11,303,252
78$20,929,609$5,707,002$3,703,602$12,178,244
79$22,967,330$5,889,545$3,730,573$13,135,025
80$25,209,840$6,077,975$3,755,389$14,181,744
81$27,677,930$6,272,482$3,777,881$15,327,379
82$30,394,512$6,473,267$3,797,873$16,581,815
83$33,384,828$6,680,532$3,815,177$17,955,944
84$36,676,693$6,894,492$3,829,599$19,461,764
85$40,300,757$7,115,363$3,840,932$21,112,488
86$44,290,792$7,343,373$3,848,960$22,922,676
87$48,684,009$7,578,755$3,853,457$24,908,364
88$53,521,415$7,821,751$3,854,185$27,087,222
89$58,848,193$8,072,611$3,850,894$29,478,713
90$64,714,132$8,331,591$3,843,322$32,104,283
91$71,174,094$8,598,960$3,831,194$34,987,556
92$78,288,534$8,874,992$3,814,221$38,154,562
93$86,124,070$9,159,972$3,792,103$41,633,981
94$94,754,109$9,454,194$3,764,522$45,457,411
95$104,259,541$9,757,963$3,731,147$49,659,664
96$114,729,504$10,071,593$3,691,630$54,279,102
97$126,262,221$10,395,408$3,645,607$59,357,988
98$138,965,929$10,729,745$3,592,697$64,942,893
99$152,959,903$11,074,951$3,532,501$71,085,128
100$168,375,574$11,431,385$3,464,600$77,841,234