Can I retire at age 56 with 2,810,000?

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 $2,810,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.1%
1 years$232,047$229,980$227,964$225,995$224,073$220,271
2 years$114,875$112,735$110,662$108,652$106,702$102,882
3 years$75,822$73,674$71,606$69,614$67,696$63,979
4 years$56,300$54,158$52,111$50,153$48,281$44,695
5 years$44,590$42,461$40,440$38,522$36,703$33,257
6 years$36,785$34,672$32,681$30,807$29,042$25,741
7 years$31,213$29,118$27,158$25,328$23,619$20,464
8 years$27,036$24,959$23,033$21,247$19,594$16,585
9 years$23,788$21,732$19,838$18,098$16,501$13,636
10 years$21,192$19,155$17,295$15,600$14,060$11,336
11 years$19,069$17,053$15,226$13,577$12,092$9,506
12 years$17,301$15,306$13,513$11,909$10,478$8,028
13 years$15,807$13,832$12,073$10,514$9,137$6,818
14 years$14,527$12,573$10,848$9,333$8,010$5,818
15 years$13,418$11,485$9,794$8,323$7,052$4,983
16 years$12,449$10,538$8,880$7,453$6,233$4,283
17 years$11,595$9,705$8,080$6,696$5,527$3,690
18 years$10,837$8,968$7,376$6,035$4,914$3,188
19 years$10,159$8,311$6,752$5,453$4,380$2,759
20 years$9,550$7,723$6,197$4,938$3,912$2,392
21 years$9,000$7,194$5,700$4,482$3,501$2,076
22 years$8,500$6,715$5,254$4,075$3,138$1,805
23 years$8,045$6,281$4,851$3,711$2,817$1,570
24 years$7,628$5,884$4,486$3,385$2,532$1,368
25 years$7,245$5,522$4,155$3,091$2,278$1,192
26 years$6,892$5,190$3,854$2,827$2,052$1,040
27 years$6,565$4,884$3,578$2,587$1,850$908
28 years$6,263$4,603$3,327$2,370$1,670$793
29 years$5,982$4,342$3,096$2,174$1,508$693
30 years$5,720$4,101$2,883$1,995$1,362$605
31 years$5,475$3,876$2,688$1,832$1,232$529
32 years$5,247$3,668$2,508$1,684$1,114$463
33 years$5,032$3,474$2,342$1,548$1,008$405
34 years$4,831$3,292$2,188$1,425$913$354
35 years$4,641$3,123$2,046$1,312$827$310
36 years$4,463$2,964$1,914$1,208$749$271
37 years$4,294$2,815$1,791$1,113$679$238
38 years$4,135$2,675$1,677$1,026$616$208
39 years$3,985$2,544$1,572$946$558$182
40 years$3,842$2,420$1,473$872$506$160
41 years$3,706$2,304$1,381$805$459$140
42 years$3,578$2,194$1,296$743$417$122
43 years$3,455$2,090$1,216$686$378$107
44 years$3,339$1,993$1,141$633$343$94
45 years$3,228$1,900$1,072$585$312$82
46 years$3,122$1,813$1,006$540$283$72
47 years$3,021$1,730$946$499$257$63
48 years$2,924$1,651$889$461$233$55
49 years$2,832$1,577$835$426$212$49
50 years$2,744$1,506$785$394$193$43

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $2,810,000, adding $6,483 every year, while hoping to spend $55,018 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: 28/42/30 Blend
55$2,810,000$2,810,000$2,810,000$2,810,000
56$3,103,307$2,954,377$2,910,822$3,161,301
57$3,361,306$3,040,603$2,949,796$3,294,843
58$3,643,776$3,129,210$2,988,232$3,433,066
59$3,953,157$3,220,256$3,026,053$3,580,481
60$4,292,132$3,313,802$3,063,179$3,737,917
61$4,663,659$3,409,908$3,099,525$3,906,286
62$5,070,994$3,508,635$3,135,001$4,086,594
63$5,517,724$3,610,047$3,169,512$4,279,944
64$6,007,800$3,714,207$3,202,958$4,487,554
65$6,545,572$3,821,180$3,235,234$4,710,762
66$7,135,834$3,931,031$3,266,227$4,951,041
67$7,783,864$4,043,827$3,295,822$5,210,013
68$8,495,479$4,159,636$3,323,893$5,489,464
69$9,277,086$4,278,526$3,350,311$5,791,361
70$10,135,741$4,400,565$3,374,938$6,117,870
71$11,079,219$4,525,826$3,397,631$6,471,376
72$12,116,085$4,654,377$3,418,237$6,854,506
73$13,255,775$4,786,291$3,436,598$7,270,154
74$14,508,685$4,921,640$3,452,545$7,721,508
75$15,886,268$5,060,497$3,465,902$8,212,079
76$17,401,141$5,202,936$3,476,484$8,745,735
77$19,067,208$5,349,030$3,484,096$9,326,740
78$20,899,784$5,498,854$3,488,535$9,959,788
79$22,915,747$5,652,482$3,489,585$10,650,054
80$25,133,690$5,809,990$3,487,023$11,403,239
81$27,574,099$5,971,453$3,480,611$12,225,624
82$30,259,549$6,136,946$3,470,104$13,124,131
83$33,214,911$6,306,544$3,455,240$14,106,387
84$36,467,589$6,480,322$3,435,748$15,180,798
85$40,047,781$6,658,355$3,411,343$16,356,626
86$43,988,758$6,840,718$3,381,726$17,644,076
87$48,327,182$7,027,484$3,346,585$19,054,398
88$53,103,449$7,218,725$3,305,590$20,599,987
89$58,362,073$7,414,515$3,258,400$22,294,503
90$64,152,102$7,614,924$3,204,654$24,153,001
91$70,527,583$7,820,021$3,143,975$26,192,071
92$77,548,069$8,029,875$3,075,972$28,429,999
93$85,279,185$8,244,552$3,000,230$30,886,934
94$93,793,243$8,464,116$2,916,319$33,585,084
95$103,169,926$8,688,630$2,823,788$36,548,924
96$113,497,039$8,918,153$2,722,164$39,805,427
97$124,871,336$9,152,742$2,610,956$43,384,321
98$137,399,435$9,392,449$2,489,646$47,318,367
99$151,198,825$9,637,326$2,357,696$51,643,673
100$166,398,968$9,887,419$2,214,543$56,400,032