Can I retire at age 56 with 2,820,000?

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 $2,820,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.8%
1 years$232,873$230,799$228,775$226,800$224,871$220,421
2 years$115,284$113,137$111,056$109,038$107,081$102,617
3 years$76,092$73,936$71,860$69,862$67,937$63,597
4 years$56,501$54,351$52,296$50,332$48,453$44,271
5 years$44,748$42,612$40,584$38,659$36,833$32,822
6 years$36,916$34,796$32,798$30,916$29,145$25,308
7 years$31,324$29,221$27,255$25,418$23,703$20,041
8 years$27,132$25,048$23,114$21,323$19,664$16,176
9 years$23,873$21,809$19,909$18,162$16,560$13,244
10 years$21,267$19,223$17,357$15,656$14,110$10,963
11 years$19,137$17,113$15,281$13,625$12,135$9,153
12 years$17,363$15,360$13,561$11,951$10,516$7,695
13 years$15,863$13,881$12,116$10,551$9,170$6,505
14 years$14,578$12,618$10,886$9,366$8,038$5,524
15 years$13,466$11,526$9,829$8,353$7,078$4,709
16 years$12,494$10,575$8,911$7,479$6,255$4,027
17 years$11,637$9,739$8,109$6,720$5,546$3,453
18 years$10,876$9,000$7,402$6,056$4,931$2,967
19 years$10,196$8,341$6,777$5,472$4,396$2,555
20 years$9,584$7,751$6,219$4,956$3,926$2,203
21 years$9,032$7,219$5,720$4,498$3,513$1,903
22 years$8,530$6,739$5,272$4,090$3,149$1,645
23 years$8,073$6,303$4,868$3,725$2,827$1,424
24 years$7,655$5,905$4,502$3,397$2,541$1,233
25 years$7,270$5,542$4,170$3,102$2,287$1,069
26 years$6,916$5,209$3,867$2,837$2,060$927
27 years$6,589$4,902$3,591$2,596$1,857$805
28 years$6,285$4,619$3,338$2,379$1,676$699
29 years$6,003$4,357$3,107$2,181$1,513$607
30 years$5,740$4,115$2,894$2,002$1,367$528
31 years$5,495$3,890$2,698$1,839$1,236$459
32 years$5,265$3,681$2,517$1,690$1,118$399
33 years$5,050$3,486$2,350$1,554$1,012$347
34 years$4,848$3,304$2,196$1,430$916$302
35 years$4,658$3,134$2,053$1,316$830$262
36 years$4,479$2,974$1,921$1,212$752$228
37 years$4,310$2,825$1,798$1,117$681$199
38 years$4,150$2,685$1,683$1,029$618$173
39 years$3,999$2,553$1,577$949$560$151
40 years$3,855$2,429$1,478$875$508$131
41 years$3,719$2,312$1,386$808$461$114
42 years$3,590$2,202$1,300$745$418$99
43 years$3,467$2,098$1,220$688$380$87
44 years$3,351$2,000$1,145$635$345$75
45 years$3,239$1,907$1,075$587$313$66
46 years$3,133$1,819$1,010$542$284$57
47 years$3,032$1,736$949$501$258$50
48 years$2,935$1,657$892$463$234$43
49 years$2,842$1,583$838$428$213$38
50 years$2,753$1,512$788$395$193$33

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $2,820,000, adding $4,892 every year, while hoping to spend $53,191 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: 31/41/28 Blend
55$2,820,000$2,820,000$2,820,000$2,820,000
56$3,112,686$2,963,226$2,919,516$3,182,351
57$3,373,585$3,051,829$2,960,725$3,325,277
58$3,659,313$3,142,991$3,001,532$3,474,013
59$3,972,347$3,236,782$3,041,867$3,633,075
60$4,315,413$3,333,271$3,081,656$3,803,402
61$4,691,515$3,432,531$3,120,822$3,986,030
62$5,103,962$3,534,637$3,159,281$4,182,098
63$5,556,396$3,639,664$3,196,947$4,392,856
64$6,052,832$3,747,691$3,233,728$4,619,685
65$6,597,688$3,858,796$3,269,526$4,864,098
66$7,195,835$3,973,060$3,304,238$5,127,765
67$7,852,637$4,090,566$3,337,756$5,412,524
68$8,574,001$4,211,399$3,369,966$5,720,395
69$9,366,437$4,335,646$3,400,748$6,053,605
70$10,237,115$4,463,393$3,429,974$6,414,605
71$11,193,934$4,594,733$3,457,512$6,806,093
72$12,245,597$4,729,756$3,483,220$7,231,041
73$13,401,690$4,868,557$3,506,950$7,692,723
74$14,672,777$5,011,230$3,528,547$8,194,743
75$16,070,494$5,157,875$3,547,848$8,741,071
76$17,607,663$5,308,589$3,564,679$9,336,080
77$19,298,410$5,463,475$3,578,860$9,984,588
78$21,158,297$5,622,635$3,590,202$10,691,901
79$23,204,474$5,786,174$3,598,504$11,463,864
80$25,455,834$5,954,200$3,603,558$12,306,917
81$27,933,194$6,126,821$3,605,142$13,228,157
82$30,659,493$6,304,148$3,603,027$14,235,398
83$33,660,003$6,486,293$3,596,970$15,337,255
84$36,962,572$6,673,370$3,586,717$16,543,215
85$40,597,884$6,865,496$3,572,003$17,863,735
86$44,599,750$7,062,786$3,552,546$19,310,335
87$49,005,424$7,265,362$3,528,056$20,895,708
88$53,855,956$7,473,344$3,498,225$22,633,841
89$59,196,580$7,686,855$3,462,732$24,540,148
90$65,077,139$7,906,018$3,421,241$26,631,611
91$71,552,553$8,130,958$3,373,398$28,926,945
92$78,683,342$8,361,804$3,318,836$31,446,773
93$86,536,193$8,598,683$3,257,167$34,213,820
94$95,184,590$8,841,723$3,187,987$37,253,128
95$104,709,507$9,091,057$3,110,874$40,592,294
96$115,200,173$9,346,815$3,025,384$44,261,729
97$126,754,911$9,609,129$2,931,055$48,294,946
98$139,482,068$9,878,133$2,827,401$52,728,874
99$153,501,037$10,153,959$2,713,918$57,604,213
100$168,943,383$10,436,743$2,590,074$62,965,813