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

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 $2,820,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.6%
1 years$232,873$230,799$228,775$226,800$224,871$220,601
2 years$115,284$113,137$111,056$109,038$107,081$102,796
3 years$76,092$73,936$71,860$69,862$67,937$63,770
4 years$56,501$54,351$52,296$50,332$48,453$44,437
5 years$44,748$42,612$40,584$38,659$36,833$32,979
6 years$36,916$34,796$32,798$30,916$29,145$25,457
7 years$31,324$29,221$27,255$25,418$23,703$20,181
8 years$27,132$25,048$23,114$21,323$19,664$16,308
9 years$23,873$21,809$19,909$18,162$16,560$13,368
10 years$21,267$19,223$17,357$15,656$14,110$11,079
11 years$19,137$17,113$15,281$13,625$12,135$9,262
12 years$17,363$15,360$13,561$11,951$10,516$7,796
13 years$15,863$13,881$12,116$10,551$9,170$6,600
14 years$14,578$12,618$10,886$9,366$8,038$5,612
15 years$13,466$11,526$9,829$8,353$7,078$4,791
16 years$12,494$10,575$8,911$7,479$6,255$4,103
17 years$11,637$9,739$8,109$6,720$5,546$3,523
18 years$10,876$9,000$7,402$6,056$4,931$3,032
19 years$10,196$8,341$6,777$5,472$4,396$2,614
20 years$9,584$7,751$6,219$4,956$3,926$2,258
21 years$9,032$7,219$5,720$4,498$3,513$1,953
22 years$8,530$6,739$5,272$4,090$3,149$1,691
23 years$8,073$6,303$4,868$3,725$2,827$1,466
24 years$7,655$5,905$4,502$3,397$2,541$1,272
25 years$7,270$5,542$4,170$3,102$2,287$1,104
26 years$6,916$5,209$3,867$2,837$2,060$959
27 years$6,589$4,902$3,591$2,596$1,857$834
28 years$6,285$4,619$3,338$2,379$1,676$725
29 years$6,003$4,357$3,107$2,181$1,513$631
30 years$5,740$4,115$2,894$2,002$1,367$549
31 years$5,495$3,890$2,698$1,839$1,236$478
32 years$5,265$3,681$2,517$1,690$1,118$417
33 years$5,050$3,486$2,350$1,554$1,012$363
34 years$4,848$3,304$2,196$1,430$916$316
35 years$4,658$3,134$2,053$1,316$830$276
36 years$4,479$2,974$1,921$1,212$752$240
37 years$4,310$2,825$1,798$1,117$681$209
38 years$4,150$2,685$1,683$1,029$618$183
39 years$3,999$2,553$1,577$949$560$159
40 years$3,855$2,429$1,478$875$508$139
41 years$3,719$2,312$1,386$808$461$121
42 years$3,590$2,202$1,300$745$418$106
43 years$3,467$2,098$1,220$688$380$92
44 years$3,351$2,000$1,145$635$345$80
45 years$3,239$1,907$1,075$587$313$70
46 years$3,133$1,819$1,010$542$284$61
47 years$3,032$1,736$949$501$258$53
48 years$2,935$1,657$892$463$234$47
49 years$2,842$1,583$838$428$213$41
50 years$2,753$1,512$788$395$193$35

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 $5,538 every year, while hoping to spend $35,637 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: 75/11/14 Blend
55$2,820,000$2,820,000$2,820,000$2,820,000
56$3,113,352$2,963,892$2,920,182$3,337,216
57$3,392,997$3,071,206$2,980,091$3,593,171
58$3,699,971$3,182,583$3,040,812$3,868,625
59$4,037,024$3,298,186$3,102,336$4,169,548
60$4,407,185$3,418,182$3,164,649$4,498,459
61$4,813,793$3,542,747$3,227,739$4,858,135
62$5,260,522$3,672,064$3,291,591$5,251,635
63$5,751,423$3,806,323$3,356,186$5,682,323
64$6,290,956$3,945,721$3,421,507$6,153,909
65$6,884,039$4,090,466$3,487,533$6,670,475
66$7,536,085$4,240,773$3,554,239$7,236,520
67$8,253,061$4,396,866$3,621,601$7,856,995
68$9,041,539$4,558,979$3,689,591$8,537,357
69$9,908,762$4,727,355$3,758,179$9,283,616
70$10,862,710$4,902,249$3,827,331$10,102,390
71$11,912,172$5,083,925$3,897,013$11,000,971
72$13,066,836$5,272,660$3,967,185$11,987,391
73$14,337,373$5,468,740$4,037,806$13,070,499
74$15,735,543$5,672,467$4,108,831$14,260,041
75$17,274,304$5,884,152$4,180,211$15,566,756
76$18,967,930$6,104,123$4,251,896$17,002,474
77$20,832,153$6,332,720$4,323,828$18,580,226
78$22,884,306$6,570,296$4,395,950$20,314,372
79$25,143,488$6,817,223$4,468,197$22,220,730
80$27,630,743$7,073,887$4,540,501$24,316,729
81$30,369,261$7,340,689$4,612,790$26,621,571
82$33,384,593$7,618,051$4,684,986$29,156,412
83$36,704,896$7,906,409$4,757,007$31,944,561
84$40,361,194$8,206,222$4,828,766$35,011,701
85$44,387,675$8,517,967$4,900,169$38,386,131
86$48,822,011$8,842,140$4,971,118$42,099,028
87$53,705,714$9,179,263$5,041,508$46,184,747
88$59,084,525$9,529,875$5,111,227$50,681,142
89$65,008,852$9,894,544$5,180,158$55,629,921
90$71,534,237$10,273,859$5,248,176$61,077,042
91$78,721,888$10,668,437$5,315,148$67,073,144
92$86,639,251$11,078,921$5,380,936$73,674,026
93$95,360,648$11,505,982$5,445,391$80,941,171
94$104,967,980$11,950,320$5,508,357$88,942,330
95$115,551,498$12,412,669$5,569,671$97,752,154
96$127,210,652$12,893,792$5,629,156$107,452,905
97$140,055,037$13,394,486$5,686,631$118,135,227
98$154,205,419$13,915,584$5,741,902$129,899,002
99$169,794,880$14,457,956$5,794,764$142,854,294
100$186,970,073$15,022,511$5,845,003$157,122,384