Can I retire at age 56 with 2,800,000?

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 $2,800,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.6%
1 years$231,221$229,162$227,152$225,191$223,276$220,852
2 years$114,466$112,334$110,268$108,265$106,322$103,882
3 years$75,553$73,412$71,351$69,366$67,455$65,074
4 years$56,100$53,965$51,925$49,975$48,109$45,806
5 years$44,431$42,309$40,296$38,385$36,572$34,352
6 years$36,655$34,549$32,565$30,697$28,938$26,805
7 years$31,102$29,014$27,062$25,238$23,535$21,490
8 years$26,940$24,870$22,951$21,171$19,524$17,567
9 years$23,704$21,654$19,767$18,033$16,442$14,572
10 years$21,117$19,087$17,234$15,545$14,010$12,225
11 years$19,001$16,992$15,172$13,529$12,049$10,348
12 years$17,240$15,251$13,465$11,866$10,441$8,823
13 years$15,750$13,783$12,030$10,476$9,105$7,567
14 years$14,475$12,528$10,809$9,300$7,981$6,522
15 years$13,370$11,445$9,759$8,294$7,027$5,644
16 years$12,405$10,500$8,848$7,426$6,211$4,901
17 years$11,554$9,670$8,051$6,672$5,507$4,269
18 years$10,799$8,936$7,350$6,013$4,896$3,727
19 years$10,123$8,282$6,728$5,433$4,364$3,261
20 years$9,516$7,696$6,175$4,921$3,898$2,859
21 years$8,968$7,168$5,680$4,466$3,489$2,510
22 years$8,470$6,691$5,235$4,061$3,127$2,207
23 years$8,016$6,258$4,833$3,698$2,807$1,943
24 years$7,601$5,864$4,470$3,373$2,523$1,712
25 years$7,219$5,503$4,140$3,080$2,270$1,510
26 years$6,867$5,172$3,840$2,816$2,045$1,333
27 years$6,542$4,867$3,566$2,578$1,844$1,177
28 years$6,241$4,586$3,315$2,362$1,664$1,041
29 years$5,961$4,327$3,085$2,166$1,502$920
30 years$5,700$4,086$2,873$1,988$1,357$814
31 years$5,456$3,863$2,679$1,826$1,227$721
32 years$5,228$3,655$2,499$1,678$1,110$638
33 years$5,014$3,461$2,334$1,543$1,005$566
34 years$4,814$3,280$2,180$1,420$910$501
35 years$4,625$3,111$2,038$1,307$824$444
36 years$4,447$2,953$1,907$1,204$746$394
37 years$4,279$2,805$1,785$1,109$677$349
38 years$4,120$2,666$1,671$1,022$613$310
39 years$3,970$2,535$1,566$942$556$275
40 years$3,828$2,412$1,468$869$504$244
41 years$3,693$2,296$1,376$802$458$216
42 years$3,565$2,186$1,291$740$415$192
43 years$3,443$2,083$1,211$683$377$170
44 years$3,327$1,986$1,137$631$342$151
45 years$3,216$1,893$1,068$583$311$134
46 years$3,111$1,806$1,003$538$282$119
47 years$3,010$1,724$942$497$256$106
48 years$2,914$1,646$885$459$233$94
49 years$2,822$1,571$832$425$211$83
50 years$2,734$1,501$782$392$192$74

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $2,800,000, adding $6,040 every year, while hoping to spend $38,902 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: 65/17/18 Blend
55$2,800,000$2,800,000$2,800,000$2,800,000
56$3,091,830$2,943,430$2,900,030$3,278,570
57$3,365,806$3,046,267$2,955,790$3,507,371
58$3,666,422$3,152,839$3,012,114$3,752,291
59$3,996,357$3,263,288$3,068,979$4,019,007
60$4,358,558$3,377,761$3,126,363$4,309,653
61$4,756,273$3,496,413$3,184,237$4,626,577
62$5,193,078$3,619,403$3,242,575$4,972,365
63$5,672,915$3,746,897$3,301,344$5,349,864
64$6,200,125$3,879,067$3,360,512$5,762,208
65$6,779,491$4,016,094$3,420,041$6,212,848
66$7,416,280$4,158,164$3,479,894$6,705,585
67$8,116,299$4,305,472$3,540,029$7,244,604
68$8,885,941$4,458,221$3,600,400$7,834,513
69$9,732,254$4,616,620$3,660,959$8,480,387
70$10,662,998$4,780,888$3,721,656$9,187,817
71$11,686,727$4,951,255$3,782,435$9,962,960
72$12,812,863$5,127,957$3,843,236$10,812,596
73$14,051,789$5,311,241$3,903,999$11,744,195
74$15,414,945$5,501,364$3,964,656$12,765,985
75$16,914,933$5,698,595$4,025,135$13,887,027
76$18,565,641$5,903,211$4,085,362$15,117,307
77$20,382,371$6,115,503$4,145,257$16,467,820
78$22,381,983$6,335,773$4,204,733$17,950,683
79$24,583,055$6,564,336$4,263,701$19,579,242
80$27,006,056$6,801,518$4,322,065$21,368,200
81$29,673,543$7,047,661$4,379,723$23,333,756
82$32,610,369$7,303,121$4,436,569$25,493,757
83$35,843,920$7,568,268$4,492,487$27,867,864
84$39,404,373$7,843,486$4,547,359$30,477,740
85$43,324,980$8,129,178$4,601,056$33,347,250
86$47,642,382$8,425,761$4,653,445$36,502,692
87$52,396,954$8,733,673$4,704,385$39,973,036
88$57,633,186$9,053,365$4,753,724$43,790,205
89$63,400,104$9,385,313$4,801,307$47,989,371
90$69,751,729$9,730,009$4,846,966$52,609,288
91$76,747,593$10,087,966$4,890,526$57,692,656
92$84,453,292$10,459,720$4,931,803$63,286,523
93$92,941,111$10,845,831$4,970,602$69,442,733
94$102,290,706$11,246,878$5,006,719$76,218,406
95$112,589,852$11,663,469$5,039,938$83,676,487
96$123,935,274$12,096,236$5,070,033$91,886,328
97$136,433,559$12,545,839$5,096,766$100,924,353
98$150,202,161$13,012,964$5,119,887$110,874,769
99$165,370,510$13,498,327$5,139,132$121,830,368
100$182,081,234$14,002,678$5,154,225$133,893,395