Can I retire at age 56 with 2,780,000?

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 $2,780,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.4%
1 years$229,570$227,525$225,530$223,583$221,681$220,376
2 years$113,648$111,532$109,481$107,492$105,562$104,246
3 years$75,013$72,887$70,841$68,871$66,973$65,686
4 years$55,699$53,580$51,554$49,618$47,766$46,518
5 years$44,114$42,007$40,008$38,111$36,311$35,106
6 years$36,393$34,302$32,333$30,478$28,732$27,571
7 years$30,880$28,807$26,869$25,057$23,366$22,250
8 years$26,747$24,693$22,787$21,020$19,385$18,314
9 years$23,534$21,500$19,626$17,904$16,325$15,298
10 years$20,966$18,951$17,110$15,434$13,909$12,927
11 years$18,866$16,871$15,064$13,432$11,963$11,024
12 years$17,117$15,142$13,369$11,782$10,367$9,470
13 years$15,638$13,684$11,944$10,401$9,040$8,186
14 years$14,372$12,439$10,732$9,233$7,924$7,111
15 years$13,275$11,363$9,689$8,234$6,977$6,203
16 years$12,316$10,425$8,785$7,373$6,166$5,431
17 years$11,472$9,601$7,994$6,625$5,468$4,770
18 years$10,721$8,872$7,297$5,970$4,862$4,200
19 years$10,051$8,222$6,680$5,395$4,333$3,707
20 years$9,448$7,641$6,131$4,886$3,870$3,278
21 years$8,904$7,117$5,639$4,434$3,464$2,904
22 years$8,409$6,643$5,197$4,032$3,105$2,576
23 years$7,959$6,213$4,799$3,672$2,787$2,289
24 years$7,546$5,822$4,438$3,349$2,505$2,035
25 years$7,167$5,463$4,111$3,058$2,254$1,812
26 years$6,818$5,135$3,812$2,796$2,030$1,615
27 years$6,495$4,832$3,540$2,560$1,831$1,440
28 years$6,196$4,553$3,291$2,345$1,652$1,285
29 years$5,918$4,296$3,063$2,151$1,491$1,148
30 years$5,659$4,057$2,853$1,974$1,348$1,025
31 years$5,417$3,835$2,659$1,813$1,218$917
32 years$5,191$3,629$2,481$1,666$1,102$820
33 years$4,979$3,436$2,317$1,532$997$733
34 years$4,779$3,257$2,165$1,409$903$656
35 years$4,592$3,089$2,024$1,298$818$588
36 years$4,415$2,932$1,893$1,195$741$526
37 years$4,249$2,785$1,772$1,101$672$471
38 years$4,091$2,647$1,659$1,015$609$422
39 years$3,942$2,517$1,555$936$552$378
40 years$3,801$2,394$1,457$863$501$339
41 years$3,667$2,279$1,366$796$454$304
42 years$3,539$2,171$1,282$735$412$273
43 years$3,418$2,068$1,203$678$374$244
44 years$3,303$1,971$1,129$626$340$219
45 years$3,193$1,880$1,060$578$308$197
46 years$3,088$1,793$996$534$280$176
47 years$2,989$1,711$935$494$254$158
48 years$2,893$1,634$879$456$231$142
49 years$2,802$1,560$826$422$210$127
50 years$2,714$1,490$777$390$190$114

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $2,780,000, adding $3,338 every year, while hoping to spend $53,648 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: 48/25/27 Blend
55$2,780,000$2,780,000$2,780,000$2,780,000
56$3,067,003$2,919,663$2,876,573$3,190,455
57$3,322,756$3,005,646$2,915,857$3,363,501
58$3,602,798$3,094,043$2,954,659$3,545,769
59$3,909,550$3,184,917$2,992,907$3,742,663
60$4,245,677$3,278,331$3,030,522$3,955,589
61$4,614,116$3,374,349$3,067,424$4,186,095
62$5,018,100$3,473,037$3,103,527$4,435,885
63$5,461,191$3,574,460$3,138,740$4,706,834
64$5,947,311$3,678,687$3,172,966$5,001,008
65$6,480,781$3,785,788$3,206,105$5,320,684
66$7,066,361$3,895,832$3,238,050$5,668,367
67$7,709,294$4,008,891$3,268,688$6,046,819
68$8,415,353$4,125,038$3,297,901$6,459,080
69$9,190,901$4,244,347$3,325,563$6,908,499
70$10,042,947$4,366,893$3,351,543$7,398,768
71$10,979,210$4,492,754$3,375,702$7,933,951
72$12,008,197$4,622,006$3,397,895$8,518,528
73$13,139,277$4,754,728$3,417,969$9,157,433
74$14,382,773$4,891,000$3,435,761$9,856,103
75$15,750,060$5,030,903$3,451,103$10,620,528
76$17,253,668$5,174,520$3,463,817$11,457,308
77$18,907,403$5,321,932$3,473,716$12,373,716
78$20,726,475$5,473,224$3,480,602$13,377,766
79$22,727,644$5,628,480$3,484,271$14,478,286
80$24,929,375$5,787,787$3,484,505$15,685,007
81$27,352,013$5,951,230$3,481,078$17,008,650
82$30,017,975$6,118,897$3,473,751$18,461,029
83$32,951,962$6,290,876$3,462,274$20,055,164
84$36,181,187$6,467,254$3,446,385$21,805,399
85$39,735,639$6,648,121$3,425,811$23,727,545
86$43,648,361$6,833,565$3,400,262$25,839,023
87$47,955,760$7,023,676$3,369,437$28,159,031
88$52,697,955$7,218,544$3,333,021$30,708,725
89$57,919,151$7,418,257$3,290,681$33,511,419
90$63,668,059$7,622,905$3,242,073$36,592,807
91$69,998,351$7,832,578$3,186,833$39,981,202
92$76,969,172$8,047,363$3,124,581$43,707,807
93$84,645,692$8,267,349$3,054,919$47,807,006
94$93,099,726$8,492,623$2,977,433$52,316,693
95$102,410,408$8,723,270$2,891,686$57,278,629
96$112,664,935$8,959,377$2,797,223$62,738,834
97$123,959,398$9,201,025$2,693,569$68,748,024
98$136,399,678$9,448,297$2,580,226$75,362,091
99$150,102,455$9,701,273$2,456,673$82,642,629
100$165,196,300$9,960,031$2,322,366$90,657,515