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

Use the below retirement simulation to view the chances of a successful retirement.
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%14.4%
1 years$228,744$226,706$224,719$222,778$220,884$216,868
2 years$113,240$111,131$109,087$107,105$105,183$101,151
3 years$74,743$72,625$70,586$68,623$66,732$62,810
4 years$55,499$53,387$51,369$49,439$47,594$43,812
5 years$43,955$41,856$39,864$37,974$36,180$32,549
6 years$36,262$34,179$32,216$30,368$28,628$25,152
7 years$30,769$28,703$26,772$24,967$23,282$19,963
8 years$26,651$24,604$22,705$20,944$19,315$16,150
9 years$23,450$21,422$19,556$17,840$16,266$13,255
10 years$20,890$18,883$17,049$15,378$13,859$10,999
11 years$18,798$16,810$15,010$13,384$11,920$9,206
12 years$17,055$15,088$13,321$11,739$10,329$7,759
13 years$15,582$13,635$11,901$10,364$9,007$6,577
14 years$14,320$12,394$10,693$9,200$7,896$5,601
15 years$13,227$11,322$9,655$8,205$6,952$4,788
16 years$12,272$10,388$8,753$7,347$6,144$4,106
17 years$11,430$9,567$7,965$6,601$5,448$3,530
18 years$10,683$8,840$7,271$5,949$4,844$3,043
19 years$10,015$8,193$6,656$5,375$4,318$2,628
20 years$9,414$7,613$6,109$4,868$3,857$2,273
21 years$8,872$7,091$5,619$4,418$3,451$1,969
22 years$8,379$6,620$5,179$4,017$3,093$1,707
23 years$7,930$6,191$4,782$3,659$2,777$1,482
24 years$7,519$5,801$4,422$3,337$2,496$1,288
25 years$7,141$5,444$4,096$3,047$2,246$1,120
26 years$6,794$5,116$3,799$2,786$2,023$975
27 years$6,472$4,815$3,527$2,550$1,824$849
28 years$6,174$4,537$3,279$2,337$1,646$739
29 years$5,897$4,280$3,052$2,143$1,486$644
30 years$5,639$4,042$2,842$1,967$1,343$562
31 years$5,398$3,821$2,650$1,806$1,214$490
32 years$5,172$3,616$2,472$1,660$1,098$427
33 years$4,961$3,424$2,309$1,526$994$373
34 years$4,762$3,245$2,157$1,404$900$326
35 years$4,575$3,078$2,017$1,293$815$284
36 years$4,399$2,922$1,886$1,191$738$248
37 years$4,233$2,775$1,766$1,097$669$217
38 years$4,076$2,637$1,654$1,011$607$189
39 years$3,928$2,508$1,549$932$550$165
40 years$3,787$2,386$1,452$860$499$144
41 years$3,653$2,271$1,362$793$453$126
42 years$3,527$2,163$1,277$732$411$110
43 years$3,406$2,061$1,198$676$373$96
44 years$3,291$1,964$1,125$624$338$84
45 years$3,182$1,873$1,056$576$307$74
46 years$3,077$1,787$992$532$279$64
47 years$2,978$1,705$932$492$253$56
48 years$2,883$1,628$876$455$230$49
49 years$2,792$1,555$823$420$209$43
50 years$2,704$1,485$774$388$190$37

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 $4,512 every year, while hoping to spend $33,129 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: 85/9/6 Blend
55$2,770,000$2,770,000$2,770,000$2,770,000
56$3,057,194$2,910,384$2,867,449$3,315,820
57$3,333,779$3,017,744$2,928,260$3,592,520
58$3,637,465$3,129,254$2,989,997$3,891,442
59$3,970,982$3,245,083$3,052,657$4,218,775
60$4,337,336$3,365,406$3,116,235$4,577,351
61$4,739,839$3,490,406$3,180,724$4,970,290
62$5,182,141$3,620,274$3,246,117$5,401,027
63$5,668,262$3,755,209$3,312,404$5,873,346
64$6,202,629$3,895,419$3,379,574$6,391,414
65$6,790,121$4,041,119$3,447,614$6,959,822
66$7,436,116$4,192,536$3,516,511$7,583,625
67$8,146,533$4,349,904$3,586,248$8,268,391
68$8,927,899$4,513,469$3,656,807$9,020,256
69$9,787,403$4,683,487$3,728,168$9,845,975
70$10,732,965$4,860,225$3,800,309$10,752,992
71$11,773,313$5,043,961$3,873,204$11,749,507
72$12,918,062$5,234,987$3,946,828$12,844,554
73$14,177,808$5,433,604$4,021,150$14,048,082
74$15,564,224$5,640,130$4,096,138$15,371,056
75$17,090,173$5,854,895$4,171,757$16,825,553
76$18,769,828$6,078,243$4,247,968$18,424,879
77$20,618,807$6,310,533$4,324,731$20,183,694
78$22,654,317$6,552,141$4,402,002$22,118,150
79$24,895,319$6,803,457$4,479,731$24,246,042
80$27,362,707$7,064,892$4,557,867$26,586,976
81$30,079,502$7,336,871$4,636,354$29,162,554
82$33,071,073$7,619,839$4,715,134$31,996,576
83$36,365,374$7,914,263$4,794,142$35,115,268
84$39,993,206$8,220,625$4,873,310$38,547,523
85$43,988,512$8,539,435$4,952,565$42,325,178
86$48,388,693$8,871,220$5,031,828$46,483,313
87$53,234,963$9,216,533$5,111,018$51,060,580
88$58,572,737$9,575,951$5,190,045$56,099,568
89$64,452,060$9,950,077$5,268,816$61,647,206
90$70,928,079$10,339,539$5,347,230$67,755,204
91$78,061,562$10,744,995$5,425,180$74,480,537
92$85,919,473$11,167,132$5,502,555$81,885,991
93$94,575,602$11,606,665$5,579,235$90,040,745
94$104,111,267$12,064,344$5,655,092$99,021,031
95$114,616,070$12,540,951$5,729,992$108,910,848
96$126,188,756$13,037,304$5,803,793$119,802,755
97$138,938,134$13,554,257$5,876,345$131,798,748
98$152,984,109$14,092,701$5,947,488$145,011,217
99$168,458,813$14,653,569$6,017,054$159,564,007
100$185,507,853$15,237,835$6,084,866$175,593,588