Can I retire at age 56 with 2,790,000?

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 $2,790,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.5%
1 years$230,396$228,343$226,341$224,387$222,479$213,990
2 years$114,057$111,933$109,874$107,878$105,942$97,490
3 years$75,283$73,149$71,096$69,119$67,214$59,064
4 years$55,899$53,773$51,740$49,796$47,938$40,152
5 years$44,272$42,158$40,152$38,248$36,441$29,040
6 years$36,524$34,425$32,449$30,587$28,835$21,823
7 years$30,991$28,910$26,965$25,148$23,450$16,826
8 years$26,843$24,782$22,869$21,096$19,454$13,211
9 years$23,619$21,577$19,697$17,969$16,383$10,512
10 years$21,041$19,019$17,172$15,489$13,960$8,449
11 years$18,933$16,931$15,118$13,480$12,006$6,845
12 years$17,178$15,197$13,417$11,824$10,404$5,578
13 years$15,694$13,733$11,987$10,439$9,072$4,568
14 years$14,423$12,483$10,770$9,266$7,953$3,756
15 years$13,323$11,404$9,724$8,264$7,002$3,097
16 years$12,361$10,463$8,816$7,400$6,189$2,561
17 years$11,513$9,636$8,023$6,648$5,487$2,122
18 years$10,760$8,904$7,324$5,992$4,879$1,761
19 years$10,087$8,252$6,704$5,414$4,349$1,464
20 years$9,482$7,668$6,153$4,903$3,884$1,218
21 years$8,936$7,143$5,660$4,450$3,476$1,014
22 years$8,440$6,667$5,216$4,046$3,116$845
23 years$7,987$6,236$4,816$3,685$2,797$705
24 years$7,573$5,843$4,454$3,361$2,514$588
25 years$7,193$5,483$4,125$3,069$2,262$491
26 years$6,843$5,153$3,826$2,806$2,038$410
27 years$6,519$4,850$3,553$2,569$1,837$343
28 years$6,218$4,570$3,303$2,354$1,658$286
29 years$5,939$4,311$3,074$2,158$1,497$239
30 years$5,679$4,071$2,863$1,981$1,353$200
31 years$5,436$3,849$2,669$1,819$1,223$167
32 years$5,209$3,642$2,490$1,672$1,106$140
33 years$4,996$3,449$2,325$1,537$1,001$117
34 years$4,797$3,269$2,173$1,415$906$98
35 years$4,608$3,100$2,031$1,302$821$82
36 years$4,431$2,943$1,900$1,199$744$69
37 years$4,264$2,795$1,778$1,105$674$57
38 years$4,106$2,656$1,665$1,018$611$48
39 years$3,956$2,526$1,560$939$554$40
40 years$3,814$2,403$1,463$866$503$34
41 years$3,680$2,287$1,371$799$456$28
42 years$3,552$2,178$1,286$738$414$24
43 years$3,431$2,076$1,207$681$376$20
44 years$3,315$1,978$1,133$629$341$16
45 years$3,205$1,887$1,064$581$309$14
46 years$3,100$1,800$999$536$281$12
47 years$2,999$1,718$939$495$255$10
48 years$2,903$1,640$882$458$232$8
49 years$2,812$1,566$829$423$210$7
50 years$2,724$1,496$780$391$191$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $2,790,000, adding $4,336 every year, while hoping to spend $21,093 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: 60/35/5 Blend
55$2,790,000$2,790,000$2,790,000$2,790,000
56$3,079,053$2,931,183$2,887,938$3,260,930
57$3,370,673$3,052,368$2,962,241$3,504,236
58$3,691,332$3,178,784$3,038,326$3,766,657
59$4,043,969$3,310,665$3,116,231$4,052,325
60$4,431,823$3,448,257$3,195,994$4,363,473
61$4,858,462$3,591,815$3,277,652$4,702,555
62$5,327,817$3,741,606$3,361,246$5,072,273
63$5,844,222$3,897,912$3,446,815$5,475,595
64$6,412,448$4,061,025$3,534,399$5,915,788
65$7,037,755$4,231,253$3,624,039$6,396,442
66$7,725,937$4,408,915$3,715,775$6,921,510
67$8,483,379$4,594,349$3,809,650$7,495,338
68$9,317,117$4,787,904$3,905,706$8,122,710
69$10,234,901$4,989,950$4,003,986$8,808,888
70$11,245,273$5,200,870$4,104,532$9,559,664
71$12,357,646$5,421,067$4,207,388$10,381,410
72$13,582,389$5,650,963$4,312,599$11,281,140
73$14,930,930$5,890,998$4,420,208$12,266,575
74$16,415,861$6,141,633$4,530,262$13,346,212
75$18,051,058$6,403,351$4,642,804$14,529,406
76$19,851,809$6,676,659$4,757,881$15,826,452
77$21,834,962$6,962,084$4,875,539$17,248,689
78$24,019,082$7,260,180$4,995,824$18,808,596
79$26,424,627$7,571,527$5,118,782$20,519,916
80$29,074,139$7,896,732$5,244,461$22,397,778
81$31,992,458$8,236,428$5,372,907$24,458,843
82$35,206,957$8,591,282$5,504,168$26,721,457
83$38,747,801$8,961,989$5,638,292$29,205,821
84$42,648,227$9,349,276$5,775,325$31,934,183
85$46,944,863$9,753,908$5,915,315$34,931,044
86$51,678,071$10,176,682$6,058,311$38,223,387
87$56,892,329$10,618,434$6,204,359$41,840,930
88$62,636,648$11,080,039$6,353,507$45,816,403
89$68,965,040$11,562,414$6,505,802$50,185,857
90$75,937,019$12,066,518$6,661,293$54,989,000
91$83,618,174$12,593,356$6,820,024$60,269,567
92$92,080,777$13,143,980$6,982,044$66,075,737
93$101,404,472$13,719,491$7,147,399$72,460,575
94$111,677,025$14,321,043$7,316,134$79,482,539
95$122,995,152$14,949,844$7,488,294$87,206,023
96$135,465,430$15,607,159$7,663,924$95,701,964
97$149,205,306$16,294,312$7,843,069$105,048,505
98$164,344,206$17,012,692$8,025,770$115,331,736
99$181,024,752$17,763,751$8,212,070$126,646,493
100$199,404,113$18,549,011$8,402,011$139,097,258