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

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 $2,780,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.1%
1 years$229,570$227,525$225,530$223,583$221,681$217,028
2 years$113,648$111,532$109,481$107,492$105,562$100,896
3 years$75,013$72,887$70,841$68,871$66,973$62,440
4 years$55,699$53,580$51,554$49,618$47,766$43,400
5 years$44,114$42,007$40,008$38,111$36,311$32,125
6 years$36,393$34,302$32,333$30,478$28,732$24,730
7 years$30,880$28,807$26,869$25,057$23,366$19,550
8 years$26,747$24,693$22,787$21,020$19,385$15,753
9 years$23,534$21,500$19,626$17,904$16,325$12,874
10 years$20,966$18,951$17,110$15,434$13,909$10,637
11 years$18,866$16,871$15,064$13,432$11,963$8,864
12 years$17,117$15,142$13,369$11,782$10,367$7,437
13 years$15,638$13,684$11,944$10,401$9,040$6,275
14 years$14,372$12,439$10,732$9,233$7,924$5,318
15 years$13,275$11,363$9,689$8,234$6,977$4,524
16 years$12,316$10,425$8,785$7,373$6,166$3,861
17 years$11,472$9,601$7,994$6,625$5,468$3,303
18 years$10,721$8,872$7,297$5,970$4,862$2,832
19 years$10,051$8,222$6,680$5,395$4,333$2,433
20 years$9,448$7,641$6,131$4,886$3,870$2,094
21 years$8,904$7,117$5,639$4,434$3,464$1,804
22 years$8,409$6,643$5,197$4,032$3,105$1,556
23 years$7,959$6,213$4,799$3,672$2,787$1,343
24 years$7,546$5,822$4,438$3,349$2,505$1,161
25 years$7,167$5,463$4,111$3,058$2,254$1,004
26 years$6,818$5,135$3,812$2,796$2,030$869
27 years$6,495$4,832$3,540$2,560$1,831$752
28 years$6,196$4,553$3,291$2,345$1,652$652
29 years$5,918$4,296$3,063$2,151$1,491$565
30 years$5,659$4,057$2,853$1,974$1,348$489
31 years$5,417$3,835$2,659$1,813$1,218$424
32 years$5,191$3,629$2,481$1,666$1,102$368
33 years$4,979$3,436$2,317$1,532$997$319
34 years$4,779$3,257$2,165$1,409$903$277
35 years$4,592$3,089$2,024$1,298$818$240
36 years$4,415$2,932$1,893$1,195$741$209
37 years$4,249$2,785$1,772$1,101$672$181
38 years$4,091$2,647$1,659$1,015$609$157
39 years$3,942$2,517$1,555$936$552$137
40 years$3,801$2,394$1,457$863$501$119
41 years$3,667$2,279$1,366$796$454$103
42 years$3,539$2,171$1,282$735$412$89
43 years$3,418$2,068$1,203$678$374$78
44 years$3,303$1,971$1,129$626$340$67
45 years$3,193$1,880$1,060$578$308$59
46 years$3,088$1,793$996$534$280$51
47 years$2,989$1,711$935$494$254$44
48 years$2,893$1,634$879$456$231$38
49 years$2,802$1,560$826$422$210$33
50 years$2,714$1,490$777$390$190$29

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 $6,565 every year, while hoping to spend $25,917 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: 57/30/13 Blend
55$2,780,000$2,780,000$2,780,000$2,780,000
56$3,070,332$2,922,992$2,879,902$3,234,870
57$3,355,930$3,038,643$2,948,803$3,462,570
58$3,669,791$3,159,092$3,019,144$3,707,142
59$4,014,769$3,284,548$3,090,945$3,973,033
60$4,394,012$3,415,226$3,164,227$4,262,292
61$4,810,983$3,551,355$3,239,011$4,577,170
62$5,269,502$3,693,170$3,315,317$4,920,141
63$5,773,776$3,840,920$3,393,165$5,293,930
64$6,328,440$3,994,864$3,472,574$5,701,532
65$6,938,600$4,155,271$3,553,565$6,146,243
66$7,609,883$4,322,425$3,636,155$6,631,689
67$8,348,489$4,496,622$3,720,364$7,161,859
68$9,161,248$4,678,169$3,806,209$7,741,143
69$10,055,686$4,867,391$3,893,709$8,374,374
70$11,040,097$5,064,624$3,982,879$9,066,869
71$12,123,619$5,270,222$4,073,736$9,824,481
72$13,316,318$5,484,553$4,166,297$10,653,653
73$14,629,289$5,708,003$4,260,575$11,561,476
74$16,074,757$5,940,975$4,356,584$12,555,758
75$17,666,191$6,183,892$4,454,339$13,645,095
76$19,418,433$6,437,193$4,553,849$14,838,949
77$21,347,838$6,701,340$4,655,128$16,147,741
78$23,472,427$6,976,815$4,758,185$17,582,943
79$25,812,058$7,264,123$4,863,027$19,157,189
80$28,388,613$7,563,790$4,969,664$20,884,391
81$31,226,204$7,876,368$5,078,100$22,779,870
82$34,351,400$8,202,434$5,188,340$24,860,496
83$37,793,481$8,542,591$5,300,387$27,144,852
84$41,584,708$8,897,470$5,414,242$29,653,401
85$45,760,634$9,267,731$5,529,905$32,408,683
86$50,360,434$9,654,066$5,647,372$35,435,523
87$55,427,278$10,057,195$5,766,639$38,761,264
88$61,008,738$10,477,875$5,887,699$42,416,026
89$67,157,236$10,916,897$6,010,543$46,432,983
90$73,930,536$11,375,088$6,135,159$50,848,680
91$81,392,296$11,853,312$6,261,532$55,703,373
92$89,612,662$12,352,476$6,389,645$61,041,405
93$98,668,933$12,873,528$6,519,478$66,911,629
94$108,646,292$13,417,457$6,651,007$73,367,858
95$119,638,604$13,985,303$6,784,207$80,469,377
96$131,749,309$14,578,151$6,919,045$88,281,499
97$145,092,395$15,197,137$7,055,490$96,876,176
98$159,793,472$15,843,449$7,193,501$106,332,680
99$175,990,961$16,518,333$7,333,039$116,738,343
100$193,837,399$17,223,091$7,474,055$128,189,385