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%19.9%
1 years$231,221$229,162$227,152$225,191$223,276$214,417
2 years$114,466$112,334$110,268$108,265$106,322$97,507
3 years$75,553$73,412$71,351$69,366$67,455$58,961
4 years$56,100$53,965$51,925$49,975$48,109$40,001
5 years$44,431$42,309$40,296$38,385$36,572$28,870
6 years$36,655$34,549$32,565$30,697$28,938$21,647
7 years$31,102$29,014$27,062$25,238$23,535$16,652
8 years$26,940$24,870$22,951$21,171$19,524$13,044
9 years$23,704$21,654$19,767$18,033$16,442$10,354
10 years$21,117$19,087$17,234$15,545$14,010$8,301
11 years$19,001$16,992$15,172$13,529$12,049$6,707
12 years$17,240$15,251$13,465$11,866$10,441$5,451
13 years$15,750$13,783$12,030$10,476$9,105$4,452
14 years$14,475$12,528$10,809$9,300$7,981$3,650
15 years$13,370$11,445$9,759$8,294$7,027$3,002
16 years$12,405$10,500$8,848$7,426$6,211$2,475
17 years$11,554$9,670$8,051$6,672$5,507$2,044
18 years$10,799$8,936$7,350$6,013$4,896$1,691
19 years$10,123$8,282$6,728$5,433$4,364$1,401
20 years$9,516$7,696$6,175$4,921$3,898$1,163
21 years$8,968$7,168$5,680$4,466$3,489$965
22 years$8,470$6,691$5,235$4,061$3,127$802
23 years$8,016$6,258$4,833$3,698$2,807$667
24 years$7,601$5,864$4,470$3,373$2,523$555
25 years$7,219$5,503$4,140$3,080$2,270$462
26 years$6,867$5,172$3,840$2,816$2,045$384
27 years$6,542$4,867$3,566$2,578$1,844$320
28 years$6,241$4,586$3,315$2,362$1,664$267
29 years$5,961$4,327$3,085$2,166$1,502$222
30 years$5,700$4,086$2,873$1,988$1,357$185
31 years$5,456$3,863$2,679$1,826$1,227$154
32 years$5,228$3,655$2,499$1,678$1,110$129
33 years$5,014$3,461$2,334$1,543$1,005$107
34 years$4,814$3,280$2,180$1,420$910$89
35 years$4,625$3,111$2,038$1,307$824$75
36 years$4,447$2,953$1,907$1,204$746$62
37 years$4,279$2,805$1,785$1,109$677$52
38 years$4,120$2,666$1,671$1,022$613$43
39 years$3,970$2,535$1,566$942$556$36
40 years$3,828$2,412$1,468$869$504$30
41 years$3,693$2,296$1,376$802$458$25
42 years$3,565$2,186$1,291$740$415$21
43 years$3,443$2,083$1,211$683$377$17
44 years$3,327$1,986$1,137$631$342$15
45 years$3,216$1,893$1,068$583$311$12
46 years$3,111$1,806$1,003$538$282$10
47 years$3,010$1,724$942$497$256$8
48 years$2,914$1,646$885$459$233$7
49 years$2,822$1,571$832$425$211$6
50 years$2,734$1,501$782$392$192$5

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 $2,801 every year, while hoping to spend $33,311 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: 66/12/22 Blend
55$2,800,000$2,800,000$2,800,000$2,800,000
56$3,088,489$2,940,089$2,896,689$3,274,806
57$3,368,072$3,048,711$2,958,286$3,508,919
58$3,675,057$3,161,539$3,020,829$3,760,708
59$4,012,202$3,278,743$3,084,316$4,035,202
60$4,382,548$3,400,503$3,148,742$4,334,634
61$4,789,444$3,527,004$3,214,101$4,661,461
62$5,236,579$3,658,439$3,280,386$5,018,389
63$5,728,019$3,795,011$3,347,587$5,408,399
64$6,268,241$3,936,931$3,415,695$5,834,772
65$6,862,178$4,084,417$3,484,697$6,301,121
66$7,515,266$4,237,699$3,554,581$6,811,425
67$8,233,492$4,397,016$3,625,329$7,370,065
68$9,023,456$4,562,617$3,696,925$7,981,869
69$9,892,426$4,734,763$3,769,349$8,652,151
70$10,848,410$4,913,723$3,842,579$9,386,766
71$11,900,235$5,099,782$3,916,592$10,192,163
72$13,057,621$5,293,234$3,991,361$11,075,444
73$14,331,284$5,494,388$4,066,856$12,044,434
74$15,733,026$5,703,564$4,143,047$13,107,752
75$17,275,855$5,921,099$4,219,899$14,274,892
76$18,974,101$6,147,341$4,297,375$15,556,312
77$20,843,555$6,382,657$4,375,433$16,963,535
78$22,901,618$6,627,428$4,454,030$18,509,255
79$25,167,462$6,882,050$4,533,119$20,207,456
80$27,662,213$7,146,941$4,612,648$22,073,543
81$30,409,150$7,422,532$4,692,564$24,124,491
82$33,433,925$7,709,278$4,772,806$26,379,000
83$36,764,802$8,007,650$4,853,312$28,857,673
84$40,432,929$8,318,141$4,934,015$31,583,210
85$44,472,625$8,641,268$5,014,842$34,580,622
86$48,921,710$8,977,567$5,095,716$37,877,466
87$53,821,856$9,327,600$5,176,555$41,504,105
88$59,218,987$9,691,954$5,257,271$45,493,991
89$65,163,706$10,071,241$5,337,771$49,883,987
90$71,711,773$10,466,101$5,417,956$54,714,707
91$78,924,637$10,877,203$5,497,720$60,030,903
92$86,870,008$11,305,244$5,576,952$65,881,885
93$95,622,501$11,750,953$5,655,532$72,321,987
94$105,264,339$12,215,093$5,733,335$79,411,079
95$115,886,126$12,698,458$5,810,227$87,215,130
96$127,587,709$13,201,879$5,886,067$95,806,832
97$140,479,110$13,726,226$5,960,705$105,266,283
98$154,681,574$14,272,406$6,033,984$115,681,744
99$170,328,708$14,841,367$6,105,735$127,150,473
100$187,567,742$15,434,100$6,175,784$139,779,639