Can I retire at age 56 with 2,770,000?

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 $2,770,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.8%
1 years$228,744$226,706$224,719$222,778$220,884$217,403
2 years$113,240$111,131$109,087$107,105$105,183$101,685
3 years$74,743$72,625$70,586$68,623$66,732$63,327
4 years$55,499$53,387$51,369$49,439$47,594$44,307
5 years$43,955$41,856$39,864$37,974$36,180$33,020
6 years$36,262$34,179$32,216$30,368$28,628$25,599
7 years$30,769$28,703$26,772$24,967$23,282$20,386
8 years$26,651$24,604$22,705$20,944$19,315$16,550
9 years$23,450$21,422$19,556$17,840$16,266$13,631
10 years$20,890$18,883$17,049$15,378$13,859$11,353
11 years$18,798$16,810$15,010$13,384$11,920$9,538
12 years$17,055$15,088$13,321$11,739$10,329$8,071
13 years$15,582$13,635$11,901$10,364$9,007$6,868
14 years$14,320$12,394$10,693$9,200$7,896$5,872
15 years$13,227$11,322$9,655$8,205$6,952$5,040
16 years$12,272$10,388$8,753$7,347$6,144$4,341
17 years$11,430$9,567$7,965$6,601$5,448$3,749
18 years$10,683$8,840$7,271$5,949$4,844$3,245
19 years$10,015$8,193$6,656$5,375$4,318$2,814
20 years$9,414$7,613$6,109$4,868$3,857$2,445
21 years$8,872$7,091$5,619$4,418$3,451$2,128
22 years$8,379$6,620$5,179$4,017$3,093$1,854
23 years$7,930$6,191$4,782$3,659$2,777$1,617
24 years$7,519$5,801$4,422$3,337$2,496$1,412
25 years$7,141$5,444$4,096$3,047$2,246$1,233
26 years$6,794$5,116$3,799$2,786$2,023$1,078
27 years$6,472$4,815$3,527$2,550$1,824$944
28 years$6,174$4,537$3,279$2,337$1,646$826
29 years$5,897$4,280$3,052$2,143$1,486$723
30 years$5,639$4,042$2,842$1,967$1,343$634
31 years$5,398$3,821$2,650$1,806$1,214$556
32 years$5,172$3,616$2,472$1,660$1,098$487
33 years$4,961$3,424$2,309$1,526$994$427
34 years$4,762$3,245$2,157$1,404$900$375
35 years$4,575$3,078$2,017$1,293$815$329
36 years$4,399$2,922$1,886$1,191$738$289
37 years$4,233$2,775$1,766$1,097$669$253
38 years$4,076$2,637$1,654$1,011$607$222
39 years$3,928$2,508$1,549$932$550$195
40 years$3,787$2,386$1,452$860$499$171
41 years$3,653$2,271$1,362$793$453$150
42 years$3,527$2,163$1,277$732$411$132
43 years$3,406$2,061$1,198$676$373$116
44 years$3,291$1,964$1,125$624$338$102
45 years$3,182$1,873$1,056$576$307$90
46 years$3,077$1,787$992$532$279$79
47 years$2,978$1,705$932$492$253$69
48 years$2,883$1,628$876$455$230$61
49 years$2,792$1,555$823$420$209$53
50 years$2,704$1,485$774$388$190$47

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $2,770,000, adding $6,448 every year, while hoping to spend $58,781 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: 78/10/12 Blend
55$2,770,000$2,770,000$2,770,000$2,770,000
56$3,059,191$2,912,381$2,869,446$3,290,347
57$3,308,686$2,992,545$2,903,030$3,523,500
58$3,581,659$3,074,667$2,935,769$3,770,986
59$3,880,444$3,158,781$2,967,572$4,040,757
60$4,207,608$3,244,921$2,998,345$4,335,012
61$4,565,981$3,333,119$3,027,987$4,656,175
62$4,958,678$3,423,408$3,056,391$5,006,912
63$5,389,129$3,515,821$3,083,446$5,390,164
64$5,861,113$3,610,389$3,109,034$5,809,166
65$6,378,792$3,707,144$3,133,032$6,267,485
66$6,946,749$3,806,114$3,155,309$6,769,046
67$7,570,034$3,907,330$3,175,728$7,318,177
68$8,254,207$4,010,818$3,194,144$7,919,642
69$9,005,394$4,116,607$3,210,407$8,578,692
70$9,830,344$4,224,721$3,224,355$9,301,110
71$10,736,491$4,335,184$3,235,823$10,093,268
72$11,732,024$4,448,018$3,244,633$10,962,186
73$12,825,963$4,563,244$3,250,602$11,915,598
74$14,028,249$4,680,881$3,253,535$12,962,025
75$15,349,830$4,800,943$3,253,228$14,110,855
76$16,802,770$4,923,446$3,249,467$15,372,433
77$18,400,357$5,048,401$3,242,030$16,758,155
78$20,157,236$5,175,814$3,230,680$18,280,579
79$22,089,537$5,305,692$3,215,171$19,953,543
80$24,215,035$5,438,037$3,195,245$21,792,293
81$26,553,314$5,572,846$3,170,631$23,813,629
82$29,125,950$5,710,113$3,141,045$26,036,061
83$31,956,717$5,849,829$3,106,190$28,479,987
84$35,071,810$5,991,978$3,065,755$31,167,883
85$38,500,091$6,136,541$3,019,414$34,124,516
86$42,273,361$6,283,493$2,966,826$37,377,178
87$46,426,663$6,432,803$2,907,633$40,955,939
88$50,998,606$6,584,433$2,841,462$44,893,940
89$56,031,734$6,738,341$2,767,921$49,227,696
90$61,572,927$6,894,476$2,686,602$53,997,447
91$67,673,838$7,052,778$2,597,077$59,247,535
92$74,391,388$7,213,182$2,498,897$65,026,822
93$81,788,294$7,375,613$2,391,595$71,389,155
94$89,933,668$7,539,986$2,274,681$78,393,868
95$98,903,664$7,706,207$2,147,644$86,106,348
96$108,782,197$7,874,170$2,009,949$94,598,648
97$119,661,736$8,043,760$1,861,038$103,950,172
98$131,644,177$8,214,848$1,700,327$114,248,417
99$144,841,801$8,387,294$1,527,206$125,589,808
100$159,378,335$8,560,941$1,341,037$138,080,599