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%17.4%
1 years$232,047$229,980$227,964$225,995$224,073$217,336
2 years$114,875$112,735$110,662$108,652$106,702$99,971
3 years$75,822$73,674$71,606$69,614$67,696$61,182
4 years$56,300$54,158$52,111$50,153$48,281$42,035
5 years$44,590$42,461$40,440$38,522$36,703$30,741
6 years$36,785$34,672$32,681$30,807$29,042$23,369
7 years$31,213$29,118$27,158$25,328$23,619$18,235
8 years$27,036$24,959$23,033$21,247$19,594$14,497
9 years$23,788$21,732$19,838$18,098$16,501$11,684
10 years$21,192$19,155$17,295$15,600$14,060$9,517
11 years$19,069$17,053$15,226$13,577$12,092$7,815
12 years$17,301$15,306$13,513$11,909$10,478$6,459
13 years$15,807$13,832$12,073$10,514$9,137$5,366
14 years$14,527$12,573$10,848$9,333$8,010$4,476
15 years$13,418$11,485$9,794$8,323$7,052$3,747
16 years$12,449$10,538$8,880$7,453$6,233$3,146
17 years$11,595$9,705$8,080$6,696$5,527$2,647
18 years$10,837$8,968$7,376$6,035$4,914$2,231
19 years$10,159$8,311$6,752$5,453$4,380$1,884
20 years$9,550$7,723$6,197$4,938$3,912$1,593
21 years$9,000$7,194$5,700$4,482$3,501$1,349
22 years$8,500$6,715$5,254$4,075$3,138$1,143
23 years$8,045$6,281$4,851$3,711$2,817$969
24 years$7,628$5,884$4,486$3,385$2,532$822
25 years$7,245$5,522$4,155$3,091$2,278$698
26 years$6,892$5,190$3,854$2,827$2,052$593
27 years$6,565$4,884$3,578$2,587$1,850$504
28 years$6,263$4,603$3,327$2,370$1,670$428
29 years$5,982$4,342$3,096$2,174$1,508$364
30 years$5,720$4,101$2,883$1,995$1,362$310
31 years$5,475$3,876$2,688$1,832$1,232$264
32 years$5,247$3,668$2,508$1,684$1,114$224
33 years$5,032$3,474$2,342$1,548$1,008$191
34 years$4,831$3,292$2,188$1,425$913$162
35 years$4,641$3,123$2,046$1,312$827$138
36 years$4,463$2,964$1,914$1,208$749$118
37 years$4,294$2,815$1,791$1,113$679$100
38 years$4,135$2,675$1,677$1,026$616$85
39 years$3,985$2,544$1,572$946$558$73
40 years$3,842$2,420$1,473$872$506$62
41 years$3,706$2,304$1,381$805$459$53
42 years$3,578$2,194$1,296$743$417$45
43 years$3,455$2,090$1,216$686$378$38
44 years$3,339$1,993$1,141$633$343$33
45 years$3,228$1,900$1,072$585$312$28
46 years$3,122$1,813$1,006$540$283$24
47 years$3,021$1,730$946$499$257$20
48 years$2,924$1,651$889$461$233$17
49 years$2,832$1,577$835$426$212$15
50 years$2,744$1,506$785$394$193$12

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 $6,662 every year, while hoping to spend $45,711 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: 68/26/6 Blend
55$2,810,000$2,810,000$2,810,000$2,810,000
56$3,103,492$2,954,562$2,911,007$3,311,393
57$3,371,412$3,050,699$2,959,889$3,546,082
58$3,665,128$3,150,015$3,008,878$3,796,435
59$3,987,222$3,252,618$3,057,926$4,068,958
60$4,340,540$3,358,617$3,106,988$4,365,811
61$4,728,215$3,468,130$3,156,013$4,689,369
62$5,153,699$3,581,273$3,204,945$5,042,248
63$5,620,793$3,698,172$3,253,727$5,427,328
64$6,133,685$3,818,954$3,302,298$5,847,778
65$6,696,989$3,943,751$3,350,593$6,307,087
66$7,315,786$4,072,699$3,398,542$6,809,097
67$7,995,675$4,205,940$3,446,072$7,358,036
68$8,742,823$4,343,621$3,493,105$7,958,563
69$9,564,026$4,485,893$3,539,559$8,615,805
70$10,466,769$4,632,914$3,585,346$9,335,409
71$11,459,299$4,784,846$3,630,375$10,123,594
72$12,550,702$4,941,858$3,674,546$10,987,209
73$13,750,988$5,104,123$3,717,758$11,933,796
74$15,071,187$5,271,824$3,759,902$12,971,664
75$16,523,451$5,445,146$3,800,861$14,109,963
76$18,121,168$5,624,283$3,840,515$15,358,770
77$19,879,090$5,809,436$3,878,736$16,729,188
78$21,813,472$6,000,814$3,915,388$18,233,445
79$23,942,223$6,198,630$3,950,330$19,885,012
80$26,285,075$6,403,108$3,983,411$21,698,727
81$28,863,771$6,614,479$4,014,474$23,690,937
82$31,702,269$6,832,982$4,043,353$25,879,651
83$34,826,968$7,058,865$4,069,872$28,284,707
84$38,266,954$7,292,385$4,093,848$30,927,961
85$42,054,280$7,533,808$4,115,089$33,833,491
86$46,224,262$7,783,410$4,133,389$37,027,827
87$50,815,816$8,041,476$4,148,537$40,540,195
88$55,871,823$8,308,303$4,160,308$44,402,796
89$61,439,537$8,584,198$4,168,466$48,651,108
90$67,571,024$8,869,478$4,172,764$53,324,221
91$74,323,660$9,164,473$4,172,942$58,465,203
92$81,760,667$9,469,526$4,168,729$64,121,507
93$89,951,712$9,784,990$4,159,839$70,345,419
94$98,973,565$10,111,233$4,145,972$77,194,547
95$108,910,820$10,448,635$4,126,813$84,732,370
96$119,856,697$10,797,591$4,102,035$93,028,829
97$131,913,918$11,158,511$4,071,291$102,160,990
98$145,195,678$11,531,818$4,034,220$112,213,773
99$159,826,714$11,917,954$3,990,443$123,280,746
100$175,944,479$12,317,374$3,939,563$135,465,011