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%20%
1 years$229,570$227,525$225,530$223,583$221,681$212,802
2 years$113,648$111,532$109,481$107,492$105,562$96,728
3 years$75,013$72,887$70,841$68,871$66,973$58,462
4 years$55,699$53,580$51,554$49,618$47,766$39,643
5 years$44,114$42,007$40,008$38,111$36,311$28,596
6 years$36,393$34,302$32,333$30,478$28,732$21,430
7 years$30,880$28,807$26,869$25,057$23,366$16,476
8 years$26,747$24,693$22,787$21,020$19,385$12,898
9 years$23,534$21,500$19,626$17,904$16,325$10,231
10 years$20,966$18,951$17,110$15,434$13,909$8,198
11 years$18,866$16,871$15,064$13,432$11,963$6,619
12 years$17,117$15,142$13,369$11,782$10,367$5,376
13 years$15,638$13,684$11,944$10,401$9,040$4,388
14 years$14,372$12,439$10,732$9,233$7,924$3,595
15 years$13,275$11,363$9,689$8,234$6,977$2,954
16 years$12,316$10,425$8,785$7,373$6,166$2,434
17 years$11,472$9,601$7,994$6,625$5,468$2,009
18 years$10,721$8,872$7,297$5,970$4,862$1,661
19 years$10,051$8,222$6,680$5,395$4,333$1,375
20 years$9,448$7,641$6,131$4,886$3,870$1,140
21 years$8,904$7,117$5,639$4,434$3,464$946
22 years$8,409$6,643$5,197$4,032$3,105$785
23 years$7,959$6,213$4,799$3,672$2,787$652
24 years$7,546$5,822$4,438$3,349$2,505$542
25 years$7,167$5,463$4,111$3,058$2,254$451
26 years$6,818$5,135$3,812$2,796$2,030$375
27 years$6,495$4,832$3,540$2,560$1,831$312
28 years$6,196$4,553$3,291$2,345$1,652$260
29 years$5,918$4,296$3,063$2,151$1,491$216
30 years$5,659$4,057$2,853$1,974$1,348$180
31 years$5,417$3,835$2,659$1,813$1,218$150
32 years$5,191$3,629$2,481$1,666$1,102$125
33 years$4,979$3,436$2,317$1,532$997$104
34 years$4,779$3,257$2,165$1,409$903$87
35 years$4,592$3,089$2,024$1,298$818$72
36 years$4,415$2,932$1,893$1,195$741$60
37 years$4,249$2,785$1,772$1,101$672$50
38 years$4,091$2,647$1,659$1,015$609$42
39 years$3,942$2,517$1,555$936$552$35
40 years$3,801$2,394$1,457$863$501$29
41 years$3,667$2,279$1,366$796$454$24
42 years$3,539$2,171$1,282$735$412$20
43 years$3,418$2,068$1,203$678$374$17
44 years$3,303$1,971$1,129$626$340$14
45 years$3,193$1,880$1,060$578$308$12
46 years$3,088$1,793$996$534$280$10
47 years$2,989$1,711$935$494$254$8
48 years$2,893$1,634$879$456$231$7
49 years$2,802$1,560$826$422$210$6
50 years$2,714$1,490$777$390$190$5

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 $4,268 every year, while hoping to spend $44,035 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: 51/28/21 Blend
55$2,780,000$2,780,000$2,780,000$2,780,000
56$3,067,962$2,920,622$2,877,532$3,206,306
57$3,334,042$3,016,880$2,927,077$3,398,604
58$3,625,785$3,116,378$2,976,805$3,602,695
59$3,945,764$3,219,230$3,026,677$3,823,673
60$4,296,811$3,325,551$3,076,649$4,063,157
61$4,682,044$3,435,461$3,126,676$4,322,924
62$5,104,901$3,549,087$3,176,707$4,604,932
63$5,569,165$3,666,557$3,226,692$4,911,335
64$6,079,007$3,788,005$3,276,573$5,244,504
65$6,639,019$3,913,570$3,326,291$5,607,047
66$7,254,260$4,043,397$3,375,784$6,001,837
67$7,930,305$4,177,634$3,424,983$6,432,036
68$8,673,295$4,316,436$3,473,818$6,901,125
69$9,489,993$4,459,964$3,522,213$7,412,937
70$10,387,853$4,608,383$3,570,088$7,971,692
71$11,375,086$4,761,866$3,617,358$8,582,038
72$12,460,739$4,920,591$3,663,933$9,249,092
73$13,654,778$5,084,744$3,709,719$9,978,488
74$14,968,185$5,254,516$3,754,614$10,776,435
75$16,413,058$5,430,106$3,798,513$11,649,767
76$18,002,730$5,611,721$3,841,303$12,606,013
77$19,751,888$5,799,575$3,882,866$13,653,465
78$21,676,716$5,993,889$3,923,077$14,801,258
79$23,795,045$6,194,894$3,961,804$16,059,451
80$26,126,524$6,402,828$3,998,909$17,439,129
81$28,692,802$6,617,939$4,034,245$18,952,500
82$31,517,734$6,840,484$4,067,658$20,613,011
83$34,627,603$7,070,729$4,098,985$22,435,480
84$38,051,375$7,308,950$4,128,057$24,436,229
85$41,820,961$7,555,434$4,154,693$26,633,238
86$45,971,527$7,810,479$4,178,704$29,046,318
87$50,541,824$8,074,393$4,199,891$31,697,296
88$55,574,549$8,347,497$4,218,046$34,610,216
89$61,116,751$8,630,123$4,232,949$37,811,573
90$67,220,277$8,922,616$4,244,370$41,330,556
91$73,942,255$9,225,334$4,252,066$45,199,326
92$81,345,638$9,538,649$4,255,784$49,453,317
93$89,499,797$9,862,947$4,255,256$54,131,574
94$98,481,172$10,198,627$4,250,203$59,277,114
95$108,373,998$10,546,106$4,240,331$64,937,337
96$119,271,096$10,905,816$4,225,333$71,164,472
97$131,274,752$11,278,204$4,204,885$78,016,067
98$144,497,677$11,663,737$4,178,649$85,555,531
99$159,064,077$12,062,897$4,146,271$93,852,736
100$175,110,820$12,476,186$4,107,379$102,984,672