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%14.4%
1 years$231,221$229,162$227,152$225,191$223,276$219,216
2 years$114,466$112,334$110,268$108,265$106,322$102,246
3 years$75,553$73,412$71,351$69,366$67,455$63,491
4 years$56,100$53,965$51,925$49,975$48,109$44,287
5 years$44,431$42,309$40,296$38,385$36,572$32,902
6 years$36,655$34,549$32,565$30,697$28,938$25,425
7 years$31,102$29,014$27,062$25,238$23,535$20,179
8 years$26,940$24,870$22,951$21,171$19,524$16,325
9 years$23,704$21,654$19,767$18,033$16,442$13,398
10 years$21,117$19,087$17,234$15,545$14,010$11,118
11 years$19,001$16,992$15,172$13,529$12,049$9,306
12 years$17,240$15,251$13,465$11,866$10,441$7,843
13 years$15,750$13,783$12,030$10,476$9,105$6,648
14 years$14,475$12,528$10,809$9,300$7,981$5,661
15 years$13,370$11,445$9,759$8,294$7,027$4,839
16 years$12,405$10,500$8,848$7,426$6,211$4,150
17 years$11,554$9,670$8,051$6,672$5,507$3,569
18 years$10,799$8,936$7,350$6,013$4,896$3,076
19 years$10,123$8,282$6,728$5,433$4,364$2,656
20 years$9,516$7,696$6,175$4,921$3,898$2,297
21 years$8,968$7,168$5,680$4,466$3,489$1,990
22 years$8,470$6,691$5,235$4,061$3,127$1,726
23 years$8,016$6,258$4,833$3,698$2,807$1,498
24 years$7,601$5,864$4,470$3,373$2,523$1,302
25 years$7,219$5,503$4,140$3,080$2,270$1,132
26 years$6,867$5,172$3,840$2,816$2,045$985
27 years$6,542$4,867$3,566$2,578$1,844$858
28 years$6,241$4,586$3,315$2,362$1,664$747
29 years$5,961$4,327$3,085$2,166$1,502$651
30 years$5,700$4,086$2,873$1,988$1,357$568
31 years$5,456$3,863$2,679$1,826$1,227$495
32 years$5,228$3,655$2,499$1,678$1,110$432
33 years$5,014$3,461$2,334$1,543$1,005$377
34 years$4,814$3,280$2,180$1,420$910$329
35 years$4,625$3,111$2,038$1,307$824$287
36 years$4,447$2,953$1,907$1,204$746$251
37 years$4,279$2,805$1,785$1,109$677$219
38 years$4,120$2,666$1,671$1,022$613$191
39 years$3,970$2,535$1,566$942$556$167
40 years$3,828$2,412$1,468$869$504$146
41 years$3,693$2,296$1,376$802$458$128
42 years$3,565$2,186$1,291$740$415$111
43 years$3,443$2,083$1,211$683$377$97
44 years$3,327$1,986$1,137$631$342$85
45 years$3,216$1,893$1,068$583$311$74
46 years$3,111$1,806$1,003$538$282$65
47 years$3,010$1,724$942$497$256$57
48 years$2,914$1,646$885$459$233$50
49 years$2,822$1,571$832$425$211$43
50 years$2,734$1,501$782$392$192$38

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 $2,367 every year, while hoping to spend $54,670 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: 40/32/28 Blend
55$2,800,000$2,800,000$2,800,000$2,800,000
56$3,088,042$2,939,642$2,896,242$3,185,941
57$3,344,853$3,025,516$2,935,097$3,343,206
58$3,626,028$3,113,765$2,973,422$3,507,982
59$3,933,992$3,204,449$3,011,141$3,685,213
60$4,271,418$3,297,626$3,048,174$3,876,074
61$4,641,252$3,393,359$3,084,436$4,081,858
62$5,046,734$3,491,708$3,119,839$4,303,989
63$5,491,435$3,592,736$3,154,289$4,544,037
64$5,979,290$3,696,508$3,187,685$4,803,727
65$6,514,628$3,803,088$3,219,924$5,084,960
66$7,102,223$3,912,542$3,250,894$5,389,830
67$7,747,330$4,024,937$3,280,479$5,720,643
68$8,455,740$4,140,341$3,308,557$6,079,939
69$9,233,830$4,258,822$3,334,999$6,470,514
70$10,088,627$4,380,451$3,359,667$6,895,450
71$11,027,871$4,505,297$3,382,420$7,358,142
72$12,060,089$4,633,432$3,403,107$7,862,329
73$13,194,676$4,764,928$3,421,569$8,412,130
74$14,441,981$4,899,857$3,437,639$9,012,084
75$15,813,407$5,038,294$3,451,144$9,667,192
76$17,321,516$5,180,312$3,461,899$10,382,962
77$18,980,150$5,325,986$3,469,711$11,165,466
78$20,804,556$5,475,391$3,474,378$12,021,391
79$22,811,538$5,628,603$3,475,687$12,958,109
80$25,019,607$5,785,696$3,473,415$13,983,740
81$27,449,160$5,946,748$3,467,327$15,107,233
82$30,122,670$6,111,834$3,457,178$16,338,450
83$33,064,899$6,281,031$3,442,710$17,688,256
84$36,303,132$6,454,415$3,423,654$19,168,626
85$39,867,432$6,632,061$3,399,727$20,792,757
86$43,790,923$6,814,045$3,370,631$22,575,188
87$48,110,107$7,000,443$3,336,056$24,531,945
88$52,865,201$7,191,328$3,295,678$26,680,689
89$58,100,522$7,386,774$3,249,154$29,040,878
90$63,864,904$7,586,854$3,196,128$31,633,961
91$70,212,153$7,791,639$3,136,228$34,483,572
92$77,201,561$8,001,198$3,069,061$37,615,758
93$84,898,465$8,215,601$2,994,218$41,059,223
94$93,374,856$8,434,913$2,911,272$44,845,601
95$102,710,067$8,659,199$2,819,775$49,009,753
96$112,991,514$8,888,521$2,719,259$53,590,099
97$124,315,528$9,122,938$2,609,233$58,628,978
98$136,788,256$9,362,506$2,489,186$64,173,053
99$150,526,667$9,607,278$2,358,583$70,273,746
100$165,659,656$9,857,303$2,216,864$76,987,729