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

Use the below retirement simulation to view the chances of a successful retirement.
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%14.2%
1 years$232,047$229,980$227,964$225,995$224,073$220,180
2 years$114,875$112,735$110,662$108,652$106,702$102,792
3 years$75,822$73,674$71,606$69,614$67,696$63,891
4 years$56,300$54,158$52,111$50,153$48,281$44,611
5 years$44,590$42,461$40,440$38,522$36,703$33,178
6 years$36,785$34,672$32,681$30,807$29,042$25,666
7 years$31,213$29,118$27,158$25,328$23,619$20,393
8 years$27,036$24,959$23,033$21,247$19,594$16,518
9 years$23,788$21,732$19,838$18,098$16,501$13,572
10 years$21,192$19,155$17,295$15,600$14,060$11,276
11 years$19,069$17,053$15,226$13,577$12,092$9,450
12 years$17,301$15,306$13,513$11,909$10,478$7,975
13 years$15,807$13,832$12,073$10,514$9,137$6,769
14 years$14,527$12,573$10,848$9,333$8,010$5,772
15 years$13,418$11,485$9,794$8,323$7,052$4,941
16 years$12,449$10,538$8,880$7,453$6,233$4,243
17 years$11,595$9,705$8,080$6,696$5,527$3,654
18 years$10,837$8,968$7,376$6,035$4,914$3,154
19 years$10,159$8,311$6,752$5,453$4,380$2,727
20 years$9,550$7,723$6,197$4,938$3,912$2,363
21 years$9,000$7,194$5,700$4,482$3,501$2,050
22 years$8,500$6,715$5,254$4,075$3,138$1,780
23 years$8,045$6,281$4,851$3,711$2,817$1,548
24 years$7,628$5,884$4,486$3,385$2,532$1,347
25 years$7,245$5,522$4,155$3,091$2,278$1,173
26 years$6,892$5,190$3,854$2,827$2,052$1,023
27 years$6,565$4,884$3,578$2,587$1,850$892
28 years$6,263$4,603$3,327$2,370$1,670$778
29 years$5,982$4,342$3,096$2,174$1,508$679
30 years$5,720$4,101$2,883$1,995$1,362$593
31 years$5,475$3,876$2,688$1,832$1,232$518
32 years$5,247$3,668$2,508$1,684$1,114$453
33 years$5,032$3,474$2,342$1,548$1,008$396
34 years$4,831$3,292$2,188$1,425$913$346
35 years$4,641$3,123$2,046$1,312$827$303
36 years$4,463$2,964$1,914$1,208$749$265
37 years$4,294$2,815$1,791$1,113$679$232
38 years$4,135$2,675$1,677$1,026$616$203
39 years$3,985$2,544$1,572$946$558$177
40 years$3,842$2,420$1,473$872$506$155
41 years$3,706$2,304$1,381$805$459$136
42 years$3,578$2,194$1,296$743$417$119
43 years$3,455$2,090$1,216$686$378$104
44 years$3,339$1,993$1,141$633$343$91
45 years$3,228$1,900$1,072$585$312$80
46 years$3,122$1,813$1,006$540$283$70
47 years$3,021$1,730$946$499$257$61
48 years$2,924$1,651$889$461$233$53
49 years$2,832$1,577$835$426$212$47
50 years$2,744$1,506$785$394$193$41

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 $6,474 every year, while hoping to spend $50,030 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: 70/23/7 Blend
55$2,810,000$2,810,000$2,810,000$2,810,000
56$3,103,298$2,954,368$2,910,813$3,316,699
57$3,366,603$3,045,900$2,955,094$3,550,194
58$3,655,088$3,140,241$2,999,181$3,798,825
59$3,971,269$3,237,475$3,043,016$4,069,505
60$4,317,916$3,337,689$3,086,535$4,364,387
61$4,698,082$3,440,974$3,129,671$4,685,843
62$5,115,125$3,547,421$3,172,355$5,036,482
63$5,572,749$3,657,126$3,214,510$5,419,178
64$6,075,031$3,770,187$3,256,057$5,837,094
65$6,626,463$3,886,704$3,296,914$6,293,714
66$7,231,991$4,006,782$3,336,990$6,792,871
67$7,897,067$4,130,527$3,376,191$7,338,791
68$8,627,694$4,258,049$3,414,420$7,936,124
69$9,430,486$4,389,461$3,451,570$8,589,992
70$10,312,731$4,524,879$3,487,533$9,306,036
71$11,282,455$4,664,423$3,522,190$10,090,470
72$12,348,502$4,808,217$3,555,420$10,950,136
73$13,520,616$4,956,386$3,587,094$11,892,572
74$14,809,531$5,109,062$3,617,074$12,926,080
75$16,227,075$5,266,377$3,645,218$14,059,806
76$17,786,278$5,428,471$3,671,374$15,303,825
77$19,501,497$5,595,485$3,695,383$16,669,235
78$21,388,550$5,767,564$3,717,079$18,168,260
79$23,464,867$5,944,859$3,736,286$19,814,369
80$25,749,650$6,127,525$3,752,819$21,622,401
81$28,264,060$6,315,719$3,766,483$23,608,702
82$31,031,409$6,509,604$3,777,076$25,791,280
83$34,077,387$6,709,349$3,784,383$28,189,979
84$37,430,300$6,915,126$3,788,178$30,826,657
85$41,121,336$7,127,113$3,788,227$33,725,401
86$45,184,861$7,345,490$3,784,282$36,912,746
87$49,658,744$7,570,447$3,776,083$40,417,932
88$54,584,712$7,802,174$3,763,357$44,273,173
89$60,008,742$8,040,871$3,745,820$48,513,965
90$65,981,500$8,286,740$3,723,171$53,179,417
91$72,558,813$8,539,990$3,695,098$58,312,624
92$79,802,199$8,800,837$3,661,270$63,961,069
93$87,779,446$9,069,500$3,621,345$70,177,071
94$96,565,250$9,346,206$3,574,961$77,018,281
95$106,241,924$9,631,189$3,521,741$84,548,224
96$116,900,170$9,924,687$3,461,289$92,836,897
97$128,639,937$10,226,945$3,393,191$101,961,430
98$141,571,361$10,538,217$3,317,014$112,006,813
99$155,815,811$10,858,761$3,232,305$123,066,700
100$171,507,027$11,188,843$3,138,590$135,244,287